{"id":333038,"date":"2025-06-25T22:49:22","date_gmt":"2025-06-25T14:49:22","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=333038"},"modified":"2025-06-25T23:51:26","modified_gmt":"2025-06-25T15:51:26","slug":"stock-in-focus-dmci-holdings-inc-dmc-25-june-2025-by-rcbc-securities","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/stock-in-focus-dmci-holdings-inc-dmc-25-june-2025-by-rcbc-securities\/","title":{"rendered":"Stock in Focus: DMCI Holdings Inc. (DMC) – 25 June 2025 by RCBC Securities"},"content":{"rendered":"\n

Summary of Broker’s Recommendation<\/h2>\n\n\n\n
Stock Code<\/strong><\/td>DMC<\/td><\/tr>
Company Name<\/strong><\/td>DMCI Holdings Inc.<\/td><\/tr>
Broker<\/strong><\/td>RCBC Securities<\/td><\/tr>
Opinion Issued on<\/strong><\/td>25 June 2025<\/td><\/tr>
Recommendation<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 11.60<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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DMC\u2019s share price has been performing in line with the PSEi year-to-date, and we believe it deserves to outperform, especially as it offers a potential 8.8% dividend yield for 2025. Reiterate BUY.<\/p>\n\n<\/div>\n\n\n

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Analysis and Opinion<\/h2>\n\n\n\n

Positive signs from DMCI Homes<\/strong><\/p>\n\n\n\n

After having reported a 101% increase in the contribution of DMCI Homes to DMCI Holdings, Inc.\u2019s (DMC) core net income in 1Q 2025 (from a decline in 2024), encouraging signs keep coming from the property arm. The sales of DMCI Homes\u2019 ready-for-occupancy (RFO) jumped by 87% year-on-year (y\/y) to Php4.3 billion in the first five months (January to May) of 2025. In volume, the sales surged by 69% year-on-year (y\/y) to 614 units, accounting for 47% of total condominium sales of 1,305 units from only a 14% share in the same period in 2024. Note that 27% of DMC\u2019s 1Q 2025 core net income came from DMCI Homes, also much higher than the 13% recorded in 1Q 2024. We expect the trend to continue for the rest of the year.<\/p>\n\n\n\n

1Q 2025 earnings recap<\/strong><\/p>\n\n\n\n

DMC\u2019s 1Q 2025 core net income slid 6% y\/y (versus our 7% estimated decline) to Php5.1 billion as the energy markets continued normalizing. Water unit Maynilad (25%-owned) showed 40% earnings growth, validating our view. Property arm DMCI Homes climbed 101%, while DMCI Mining turned around from a loss, beating our expectations and more than offsetting the shortfall in off-grid power, which increased by only 2%. Quarter-on-quarter (q\/q), earnings rose 33%.<\/p>\n\n\n\n

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Check how many brokers recommend this stock<\/h2>\n\n\n\n
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All Stock Rankings<\/a><\/blockquote>