HRnetGroup - RHB Invest 2023-03-07: Outlook & Valuation Still Positive; Keep BUY

HRnetGroup - Outlook & Valuation Still Positive; Keep BUY

Published:
HRNETGROUP LIMITED (SGX:CHZ) | SGinvestors.ioHRNETGROUP LIMITED (SGX:CHZ)
  • We continue to like HRnetGroup, as it is well-positioned for a recovery in 2H23 despite near-term labour market headwinds. It enjoys diversified exposure across multiple Asian economies and industries. It also has strong cash flow-generating ability, a net cash balance sheet and an attractive dividend yield, too.
  • - Read this at SGinvestors.io -

FY22 earnings and revenue are slightly below our expectations

  • HRnetGroup (SGX:CHZ)'s FY22 earnings and revenue are slightly below our expectations, at S$68m (+3% y-o-y; 8% miss) and S$612m (+4% y-o-y; 6% miss). Gross profit margin missed our estimates as well, by 0.9ppts to 28.5%, due to a lower contribution from the professional recruitment segment.
  • - Read this at SGinvestors.io -
  • HRnetGroup declared a final dividend of 1.87 cents, representing a dividend payout ratio of ~60%. This takes its full-year dividend to 4 cents. See HRnetGroup's dividend dates.

Growth supported by the Singapore and China labour markets.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.



Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2023-03-07



Read also RHB's most recent report:
2024-06-27 HRnetGroup - Expecting Slightly Weaker Earnings Outlook; Still BUY.

Previous report by RHB:
2024-04-03 HRnetGroup - Expect Better Job Demand; Keep BUY.

Price targets by other brokers at HRnetGroup Target Prices.

Listing of research reports at HRnetGroup Analyst Reports.

Relevant links:
HRnetGroup Share Price History,
HRnetGroup Announcements,
HRnetGroup Dividend Payout Dates & Corporate Actions,
HRnetGroup News






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