Image by mischiru via FlickrFil-Estate Land, Inc.
Recommendation: Sell
ACCORD Capital Equities Corp. is advising investors to sell Fil-Estate Land, Inc. shares following the stock price’s hefty climb in just half a month.
“Shares of Fil-Estate Land traded from P0.38 to P0.41 per share during mid-August,” analyst Justino B. Calaycay, Jr., said. “Today, it closed at P0.54 per share which resulted in a 32% increase in its price which is a good thing,” he said last Friday.
The stock’s price-to-earnings (PE) ratio, at 28x, was way higher than the property industry average of 19x, Mr. Calaycay added.
“Since its PE ratio is higher than the industry average, there could be other property issues more attractive in the eyes of investors… it would be better for equity investors holding Fil-Estate shares to take profit at this time,” he said.
Fil-Estate’s announcement it could end its fiscal year with P50 million in net income, a turnaround, could already be taken into account, Mr. Calaycay said.
| Share Price | 0.54 |
| High (past 52 weeks) | 0.58 |
| Low (past 52 weeks) | 0.26 |
| Market Cap. (M) | 1,809.00 |
| Price-Earnings Ratio | -28.01 |
| Earnings Per Share | -0.04 |
Daniel Anne Nepomuceno-Rodriguez
September 6, 2010
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