Comments on a number of stocks in the spotlight were given by securities companies including DHC, NT2, DXG, and NLG.

DHC – Accumulation

BIDV Securities Joint Stock Company (BSC)

Technical highlights:

– Current trend: Cumulative.

– MACD trend indicator: Golden Cross is about to appear.

– RSI indicator: Gradually increases above 50 but has not entered the overbought zone.

MA: EMA12 is above EMA26.

Analysis:

DHC is still in cumulative sideways state in the 44 – 47 zone for more than three months. The stock liquidity in recent sessions tended to decrease gradually. The trend indicators are currently in a positive state.

The MACD is about to cut above its signal line so the stock might return to uptrend in the short term. The nearest support of DHC is around 45.5.

DHC stock technical chart

NT2 – Reduced yield during restoration

Yuanta Securities Vietnam (FSC)

Analysis:

Revenue in the third quarter of 2020 decreased 34% over the same period to 1,152 billion VND due to the reduction of output -31.5% over the same period to 772 million kWh. NT2 conducted the refurbishment at 75,000 equivalent operating hours (EOH) from September 15 to October 22. Gross profit margin in the third quarter of 2020 also decreased. Gross profit margin in the third quarter of 2020 is 5.9%.

NT2 said the plant’s shutdown starting September 15 had a negative impact on revenue while the business still has to record fixed expenses depreciation. In addition, net financial expenses in the third quarter of 2020 reached VND 45.6 billion compared with revenue from financial activities of 16.1 billion.

The main reason is due to the exchange rate difference loss of 20.4 billion VND when re-evaluating the balance of foreign currency loans compared to the interest rate difference of 49.6 billion VND in the third quarter of 2019. Accordingly, NT2 recorded a net loss of 5.9 billion dong.

Net debt / equity decreased to 23% by the end of Q3 / 2020 from 44% at the end of the third quarter of 2019. NT2 completed its long term repayment in 2Q20. Therefore, interest expenses in the third quarter of 2020 have decreased 67% compared to the same period to 7.1 billion.

There have been no updates on the PPA renegotiation results from NT2, but management has previously said that they do not expect contract prices this year to be adjusted and that next year’s downward adjustment will not exceed VND 40 VND / kWh.

DXG – Sales exceeded expectations but Q3 profit dropped

Viet Capital Securities Joint Stock Company (VCI)

Analysis:

Dat Xanh Real Estate Corporation (DXG) announced Q3 / 2020 business results with a modest EAT of 100 billion dong (down 71% year on year). However, DXG reported a net loss for the first 9 months of 2020 worth VND388 billion compared to a NPAT after the first 9 months of 2019’s net profit, worth VND907 billion.

If excluding the financial loss of 526 billion VND from the divestment from LDG in July, DXG’s EAT after the first 9 months of 2020 benefits of shareholders will reach 138 billion VND (down 85% compared to the same period). Weakness comes from the brokerage service’s contribution.

Real estate handover progress is lower than the same period in the first 9 months of 2020 as DXG’s main handover project Gem Sky World Long Thanh is expected to start recording in the fourth quarter.

Therefore, after-tax profit after the benefits Community expect a contribution from Gem Sky World project and the profit from divestment from non-core land bank in the fourth quarter, although more detailed assessment is required.

NLG – The first 9 months of 2020 profit is modest

Viet Capital Securities Joint Stock Company (VCI)

Analysis:

Nam Long Investment Joint Stock Company (NLG) announced that after the first 9 months of 2020 EAT is 208 billion dong (down 50% year on year) with a modest third quarter / 2020 profit of 28.3 billion dong.

The current handover progress of the Mizuki Park P1 project (the project has not been merged) and Flora Novia mainly lead the first 9 months of 2020 profit.

Forecast of net profit after the shareholders’ interest in 2020 will reach 871 billion VND (down 9% compared to last year), recording profit from NLG divestment of half of stake in Waterfront project (170 ha in Dong Nai province) in the quarter. IV / 2020.

Investors should only consider comments of securities companies as sources of reference information. Securities companies all have recommendations to exempt the responsibility for the above comments.

Source: vietnambiz.vn – Translated by fintel.vn