Samsonite International SA
01910: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$45.00 | Jwqbmp | Hvglqvt |
Samsonite Earnings: Strong Profitability but Moderating Growth; Shares Slightly Undervalued
Narrow-moat Samsonite’s third-quarter earnings featured better-than-expected profitability, but weaker-than-expected sales. Management maintains 2023 guidance and issued 2024 guidance that is broadly in line with our estimates. Overall, we are maintaining our HKD 27 fair value estimate, and note that shares are trading just slightly undervalued, so buyers may want to wait for a better entry point.