The share price of SCG Packaging Public Company Limited (SET: SCGP) fell THB 1.50 or 3.24% per share to trade at THB 44.75 per share in the morning session on Tuesday.
April 4, 2023, is the first day of SCGP’s ex-dividend date for a THB 0.35 dividend payout. However, the company is facing further loss from plummeting stock prices that is larger than the dividend announced.
According to Refinitiv, 8 analysts recommended “BUY” SCGP and 8 recommended “Hold” with a consensus target price of THB 58.39 per share. Net income for this year is expected to grow significantly by 43% to THB 8,307 million from higher sales volume, especially in 1Q23 after China reopened.
However, the share price comes under pressure from weak exports data amid slower global demand. Thailand’s exports contracted for the fifth consecutive month in February, falling 4.7% year on year to US$22,376.20 million.
Phusit Ratanakul Sereroengrit, chief of the ministry’s department of international trade development, told a news conference that shipments, a key engine of the Thai economy, were likely to fall in the first and second quarters before rising in the second half of the year.
The Thai government is keeping to its 1% – 2% export growth target for this year, following a 5.5% increase in 2022.
The share price of SCGP is -5.2% in a week, -14.5% in a month and -20% from the beginning of this year.
