Fworth a tenth less in just a few hours: The financial investor Deutsche Beteiligungs-AG from Frankfurt, which specializes in medium-sized companies, is now richer in this experience. The company cut its earnings forecast significantly on Wednesday evening, scare off investors in a row the following day. Because such a thing is valid on the stock exchange as a profit warning. The loss is the receipt. However, the Executive Board continues to expect a positive return.
The German participation joins a number of addresses, which also warn of less than expected failing returns. The price collapse was particularly severe at auto supplier Aumann and bottling plant manufacturer Krones. Previously, BASF had already published a profit warning from the Dax.
The company listed in the small-value segment S-Dax has been listed on the Frankfurt Stock Exchange since 1985. Among the companies in which it holds shares, includes the breast implants manufacturer Polytech from Dieburg. Also in the portfolio is the estate agent of Poll from Frankfurt.
The German investment also invests in mechanical engineers and plastics technicians, in service providers for the telecommunications industry and in toolmakers. However, only one branch baker operating in eastern Germany has made headlines recently. "The Purple Baker" had filed for bankruptcy. Also in this respect, the chain is an atypical participation of the Frankfurt.
Two factors determine rating
According to a spokesman, the financial investor has been led to reduce the forecast after the first impressions of the portfolio valuation. Details are pending. They are announced for the 8th of August.
According to the speaker, the portfolio valuation depends fundamentally on two factors. On the one hand, there is the operative business development, whereby the indebtedness of the investment companies has to be considered. Second, the constitution of the capital market plays a role. This means:
If the valuations on the stock exchange rise, this will be reflected in the German participation. As in the opposite case. The Dax reached the half-year high at the end of June, the end of Frankfurt's most recent business quarter. Currently, the index is approximately where it was a year ago.
Baader Bank leaves it on "Buy"
The S-Dax did not quite keep pace with its big brother. Its half-year high dates from May. It is also well below the previous year's level. That may have contributed to a more cautious assessment in the German contribution.
Despite the profit warning, Baader Bank recommends the stock to be purchased with a price target of 42 euros; that's ten euros more than last paid for the title. The recently announced divestment of specialty film manufacturer Infiana to a UK financial investor shows that the outlook for long-term income from the investment portfolio remains positive, Baader analyst Tim Dawson said.
With a price-earnings ratio (P / E) of 17, the stock is not valued favorably. However, the S-Dax is priced at a price of 21. And the dividend yield of the German investment, which calculates the dividend and the share price, is high at 4.3 percent.
. (tagsToTranslate) ISIN_DE0009653386 (t) Frankfurt Stock Exchange (t) BASF (t) ISIN_DE000BASF111 (t) ISIN_DE0008469008 (t) Financial Investor (t) Exchange