- We reiterate our positive outlook on ST Engineering (SGX:S63), which still has defensive dividends at S$0.04 per quarter, and strong earnings growth as all business segments witness robust growth.
- - Read this at SGinvestors.io -
Unchanged positive investment thesis.
- ST Engineering’s earnings outlook remains defensive. Its order backlog of S$27.4bn implies a book-to-bill ratio of 2.7 years. ST Engineering expects S$7.9bn of the orderbook to be delivered in 2024, accounting for 73% of our 2024F revenue estimate.
- - Read this at SGinvestors.io -
- The USS unit's earnings should improve as a result of the right-sizing exercise and earnings contribution from its TransCore acquisition.
- The Defence & Public Security (DPS) business’ profitability should be supported by the gradual delivery of its orderbook.
Expect dividend of S$0.04 per quarter
- Read more at SGinvestors.io.
Shekhar Jaiswal RHB Securities Research | https://www.rhbgroup.com/ 2024-04-08
Previous report by RHB:
2024-03-04 ST Engineering - Earnings Growth Momentum To Continue; BUY.
Price targets by 5 other brokers at ST Engineering Target Prices.
Listing of research reports at ST Engineering Analyst Reports.
Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividends & Corporate Actions,
ST Engineering News Articles
