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Analysts cut earnings forecasts for ComfortDelGro

Covid-19 outbreak, continued weakness in taxi earnings seen denting margins; drop in proposed final dividend for FY2019 also a disappointment

Published Mon, Feb 17, 2020 · 09:50 PM

ComfortDelGro

Singapore

WITH headwinds expected for FY2020 due to the effect of the Covid-19 outbreak and taxi earnings likely to remain weak, research houses have trimmed their earnings outlook for ComfortDelGro.

RHB Research cut the transport operator's earnings forecast for the current financial year by 12 per cent to S$271 million.

DBS Group Research lowered bottom line estimates by 6.2 per cent to S$276 million, while UOB Kay Hian lowered the forecast by 5.5 per cent to S$279.7 million.

CGS-CIMB is the least pessimistic of the lot, lowering estimates by 1.6 per cen…