The lowered estimates come after MPM reported lower-than-expected earnings in the 1HFY2025. For the six months ended March 31, MPM’s revenue fell by 14% y-o-y to $53 million. The lower figure factored in the temporary loss of third-party shipyard revenue during the construction period of its commissioning service operation vessel (CSOV). MPM’s ship chartering revenue decreased by 3% y-o-y to $32 million.
RHB Bank Singapore analyst Alfie Yeo has lowered his target price on Marco Polo Marine (SGX:5LY
) (MPM) from 8 cents to 7 cents, as he lowers his earnings estimates for FY2025 to FY2027 by 13% per year.
Yeo’s net profit estimate for FY2025 is now at $24 million, putting his recurring P/E estimate at 6.85 times. His net profit estimates for FY2026 and FY2027 are at $26 million and $28 million respectively, putting his recurring P/E estimates at 6.31 times and 5.85 times.
