Q&M Dental Group - Refocusing On Its Core Dental Business
- Q&M Dental Group (SGX:QC7)'s 3Q21 net profit of S$9.5m beat our estimate of a S$8.6m run rate per quarter in 2H21F by 10% on the back of higher margins.
- We raise FY21F earnings per share forecast by 3% but cut FY22F-23F earnings per share forecast by 6-18% to reflect lower PCR test revenue moving forward.
- Reiterate ADD rating on Q&M Dental Group with a slightly lower target price of S$0.835, still pegged to 22x 2022F P/E (~15% below peers). Attractive dividend yield of ~6.5% at current Q&M Dental's share price.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
TAY Wee Kuang CGS-CIMB Research | Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-12 2021-11-12
Previous report by CGS-CIMB:
2021-10-11 Q&M Dental Group - PCR Waning, ART Shining
Target prices by 3 other brokers at Q&M Dental Target Prices.
Listing of broker reports at Q&M Dental Analyst Report.
Q&M Dental Share Price History,
Q&M Dental Announcements,
Q&M Dental Dividends & Corp Actions,
Q&M Dental News Articles