Centurion's Earnings Outlook Seems Positive on Higher Bed Capacity -- Market Talk

Dow Jones03-06

0621 GMT - Centurion's earnings outlook seems positive on higher bed capacity, RHB Research analyst Alfie Yeo says in a note. Based on its planned number of beds in 2024, the number of its revenue-contributing beds is expected to increase 6.5%, driven by asset-enhancement initiatives, Yeo says. Singapore, which contributes around 66% of the accommodation assets operator's total revenue, continues to expect demand for foreign workers to outstrip supply for dormitories, which augurs well for the company's occupancy and bed rates, Yeo adds. RHB lifts its 2024-2025 earnings estimates for Centurion by 4%-6%, and raises the stock's target price to S$0.64 from S$0.62 with an unchanged buy rating. Shares are 1.2% lower at S$0.425. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 06, 2024 01:21 ET (06:21 GMT)

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Singapore, which contributes around 66% of the accommodation assets operator's total revenue, continues to expect demand for foreign workers to outstrip supply for dormitories, which augurs well for the company's occupancy and bed rates, Yeo adds. RHB lifts its 2024-2025 earnings estimates for Centurion by 4%-6%, and raises the stock's target price to S$0.64 from S$0.62 with an unchanged buy rating. Shares are 1.2% lower at S$0.425. 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Based on its planned number of beds in 2024, the number of its revenue-...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BWCU.SI","symbol_name":"运通网城","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2417621235","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2417621235","pubTimestamp":1709706060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0621 GMT - Centurion's earnings outlook seems positive on higher bed capacity, RHB Research analyst Alfie Yeo says in a note. Based on its planned number of beds in 2024, the number of its revenue-contributing beds is expected to increase 6.5%, driven by asset-enhancement initiatives, Yeo says. Singapore, which contributes around 66% of the accommodation assets operator's total revenue, continues to expect demand for foreign workers to outstrip supply for dormitories, which augurs well for the company's occupancy and bed rates, Yeo adds. RHB lifts its 2024-2025 earnings estimates for Centurion by 4%-6%, and raises the stock's target price to S$0.64 from S$0.62 with an unchanged buy rating. Shares are 1.2% lower at S$0.425. 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