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Global Sources Ltd. Stock Downgraded (GSOL)

NEW YORK (TheStreet) -- Global Sources (Nasdaq:GSOL) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

Highlights from the ratings report include:

  • GLOBAL SOURCES LTD reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, GLOBAL SOURCES LTD increased its bottom line by earning $0.65 versus $0.36 in the prior year. This year, the market expects an improvement in earnings ($0.84 versus $0.65).
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Media industry average. The net income increased by 39.1% when compared to the same quarter one year prior, rising from $7.25 million to $10.09 million.
  • The gross profit margin for GLOBAL SOURCES LTD is rather high; currently it is at 67.60%. It has increased significantly from the same period last year. Along with this, the net profit margin of 15.20% is above that of the industry average.
  • GSOL has underperformed the S&P 500 Index, declining 20.33% from its price level of one year ago. The fact that the stock is now selling for less than others in its industry in relation to its current earnings is not reason enough to justify a buy rating at this time.

Global Sources Ltd. operates as a business-to-business media company primarily in greater China. It provides sourcing information to volume buyers and integrated marketing services to suppliers. The company offers trade information using online media, print media, and face-to-face events. The company has a P/E ratio of 8.1, equal to the average internet industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Global Sources has a market cap of $211 million and is part of the technology sector and internet industry. Shares are down 34.2% year to date as of the close of trading on Friday.

You can view the full Global Sources Ratings Report or get investment ideas from our investment research center.

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