Sailing-Winds of change for America's Cup in Bermuda Triangle
HAMILTON, Bermuda, June 24 Mystery surrounds what next for the America's Cup if New Zealand win sailing's most prestigious prize in Bermuda next week.
Malaysia's Hong Leong Bank lags on analyst revisions among 31 companies in the country's financials sector tracked by at least three analysts, data from Thomson Reuters StarMine shows.
The company has an Analyst Revision Model (ARM) score of 25, the lowest in the sector. This score has declined 56 points over the past 30 days. Its gross margin for the four quarters ending March 2012 lags the industry average by nearly 6 percent.
Hong Leong Bank's free cash flow declined 7.7 billion ringgit to negative 4.3 billion ringgit between March 2011 and March 2012. Its net income, meanwhile, rose over 60 percent to 465 million ringgit during the same period.
Fourteen of 23 analysts tracking the stock have cut EPS estimates for 2013 by an average of 2.4 percent, while 17 of the 23 have cut estimates for 2014 by an average of 2.9 percent since Aug. 28.
Of the 23 analysts tracking the stock, 11 give it a 'strong buy' or 'buy' rating, seven recommend a 'hold' and five have a 'sell' or 'strong sell' rating.
The stock currently trades at 69 percent of its intrinsic value of 19.11 ringgit. It is now up 21.65 percent year-to-date. while the broader index is up nearly 6 percent for the same period, as of Wednesday's close.
At the other end of the spectrum, Bimb Holdings, Pavilion Real Estate Investment and Eastern & Oriental lead the Malaysian financials sector on analyst revisions with scores of 98, 95 and 93 respectively.
StarMine's Analyst Revision Model ranks stocks based on analysts' revision of earnings and revenue estimates and changes in their ratings and usually gives additional weight to analysts who have been more accurate in the past. (Reporting by Reshma Apte; Editing by Sunil Nair)
June 23 The U.S. Marine Corps said on Friday it resumed flight operations for Lockheed Martin Corp's F-35B fighter jets after temporarily suspended operations a day ago because of software problems.