{"id":330295,"date":"2024-11-07T01:03:57","date_gmt":"2024-11-06T17:03:57","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330295"},"modified":"2024-11-07T01:09:48","modified_gmt":"2024-11-06T17:09:48","slug":"stock-in-focus-belle-corp-bel-7-nov-2024-by-regina-capital-development-corp","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-belle-corp-bel-7-nov-2024-by-regina-capital-development-corp\/","title":{"rendered":"Stock in Focus: Belle Corp. (BEL) &#8211; 7 Nov 2024 by Regina Capital Development Corp."},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Summary of Broker&#8217;s Recommendation<\/h2>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Stock Code<\/strong><\/td><td>BEL<\/td><\/tr><tr><td><strong>Company Name<\/strong><\/td><td>Belle Corp.<\/td><\/tr><tr><td><strong>Broker<\/strong><\/td><td>Regina Capital Development Corp.<\/td><\/tr><tr><td><strong>Opinion Issued on<\/strong><\/td><td>7 Nov 2024<\/td><\/tr><tr><td><strong>Recommendation<\/strong><\/td><td>Buy<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 3.95<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>While BEL recorded lower 1st half (1H) 2024 earnings, increased performance from integrated resorts and higher industry gross gaming revenue (GGR) rates despite the recent POGO ban announcement signifies potential for the firm Considering these factors, we are setting our recommendation for BEL to be a BUY, with a Target Price of P3.95.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Analysis and Opinion<\/h2>\n\n\n\n<p>Belle Corporation (BEL)\u2019s 2nd quarter (2Q) 2024 bottomline slid as its Net Income (NI) dove to P442.6 million, down 32.9% year-on-year (y\/y), which pushed its 1H 2024 NI down to P882 million (-32.7% y\/y). Key drivers behind this decline were lower consolidated revenues, primarily from the gaming business unit, as well as the recent POGOs exit in the country.<\/p>\n\n\n\n<p>Consolidated revenues had an uptick of growth by +3.70% y\/y to P1.40 million for 2Q 2024, yet 1H 2024 revenues still declined by -5.86% y\/y to P2.73 million. For 1H 2024, growth was seen in the leasing, real estate, and property management units, as lease income rose to P1.16 million (+16% y\/y), sale of real estate rose to P221.6k (+2.6% y\/y), and revenues from property management increased to P145k (+13.3% y\/y). However, segments such as the gaming unit and equipment rental (POSC) saw a decline in revenues, with gaming revenue shares dropping by -24% y\/y to P943k, and equipment rentals declining by -16.7% y\/y to P258.9k.<\/p>\n\n\n\n<p>The majority of the firm\u2019s revenues that were generated from real estate operations were derived from BEL\u2019s lease of the land and buildings of the City of Dreams Manila, while its real estate sales and property management activities at Tagaytay Highlands were also able to contribute higher revenues.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Check how many brokers recommend this stock<\/h2>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-wp-embed is-provider-pinoyinvestor wp-block-embed-pinoyinvestor\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"tFnSOyCT6o\"><a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/\">All Stock Rankings<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;All Stock Rankings&#8221; &#8212; PinoyInvestor\" src=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-rankings-all-stocks\/embed\/#?secret=IvqUqqSsDL#?secret=tFnSOyCT6o\" data-secret=\"tFnSOyCT6o\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our Target Price and recommendation for this stock is<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-330295","post","type-post","status-publish","format-standard","hentry","category-stocks-in-focus","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330295"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330295\/revisions"}],"predecessor-version":[{"id":330303,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330295\/revisions\/330303"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}