SGX-listed Wilmar International Ltd. (SG:F34) and CapitaLand Investment Limited (SG:9CI) will announce their second-quarter earnings for 2023 tomorrow.
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We have identified these companies by using the TipRanks Earnings Calendar for the Singapore market. This tool is now available in the nine different markets in TipRanks, offering the latest information on upcoming earnings. It includes forecasted EPS, reported EPS, sales figures, etc. This tool could be quite handy during earnings season, allowing users to access a substantial amount of data in a concise and organized manner.
Recently, these stocks have received Buy ratings from analysts, which are subject to potential adjustments based on the forthcoming financial reports from these companies.
Let’s take a look at the numbers.
Wilmar International
Singapore-based agribusiness group Wilmar International will report its Q2 2023 earnings tomorrow after trading hours. Analysts expect the company to post earnings of S$0.1 per share for the quarter. The company reported an EPS of S$0.07 in the same period a year ago.
The company oversees the complete agricultural commodity business across Asia through a network of over 500 manufacturing plants. Analysts believe the plantation sector is anticipated to reflect improved prospects in 2023, as compared to volatility in the previous year. This will drive better margins and profits for Wilmar, which stands out as the preferred option within this sector.
F34 stock has low coverage on TipRanks with just two Buy recommendations from analysts, leading to a Moderate Buy rating. The average price target of S$4.83 signifies a 25.4% change from the current price level.
CapitaLand Investment Limited
CapitaLand functions as a real estate investment manager, overseeing a portfolio of assets across Singapore, India, and China. The company’s stock has experienced a loss of 17.8% in trading over the last 12 months.
For Q2 2023 numbers, the consensus EPS forecast is S$0.09 per share, slightly up from the EPS of S$0.08 in Q2 2022. The projected sales for the quarter are S$1.16 billion. For the quarter, analysts are optimistic about the company’s lodging business, which will be driven by the revival of air travel and tourism activities in Asia. In the previous quarter, the company posted growth of 11% in its lodging revenue of $447 million.
According to TipRanks consensus rating, 9CI stock has a Strong Buy rating, backed by all five Buy recommendations. The average price forecast for a 12-month period is S$4.29, which is 31.6% higher than the current price.
Conclusion
Wilmar International and CapitaLand Investment hold prominent positions in the SGX market. It would be interesting to see their Q2 financial numbers tomorrow and the subsequent market response to their respective share prices.
