E3B PhillipCapital Signals Big Gains for Wee Hur Holdings with Bold 62-Cent Target
Wee Hur’s profitability is already robust. For the first half of 2024, the company reported a net profit of $75 million, with $60 million stemming from its PBSA joint venture with GIC. Analysts expect similar, if not better, contributions in the second half, pushing the full-year profit to approximately $150 million. This estimate positions Wee Hur at an attractive price-earnings ratio of just 2.6 times—well below industry averages.
The brokerage’s upbeat report highlights a “strong likelihood” of special dividends for shareholders following Wee Hur’s monumental sale of its Australian student accommodation portfolio in December.
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