Hexagon AB B

Hexagon is engaged in the provision of integrated design, measurement and visualization technologies. Co. has two segments: measurement technologies, which consist of Geosystems that captures, processes and stores position-related information, Metrology, which provides manufacturing evaluation, process qualification and final parts inspection, and Technology, which provides engineering software as well as geospatially powered solutions; and Other Operations, which focuses on the transportation industry in the car and heavy vehicle segments. The Other Operations conducts its business in the Nordic region.
  • TickerHEXA B
  • ISINSE0000103699
  • ExchangeNasdaq Nordic Stockholm
  • SectorSoftware & Computer Services
  • CountrySweden
Karl Bokvist ...
  • Laurits Kjærgaard
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - October 2020

Global PMIs continued higher in September, reaching 54, which supports our view that demand will gradually normalise in Q4. Automotive is good, while high metal prices should support demand for mining equipment. This helps to offset weakness in oil & gas, marine, aerospace. Demand from general manufacturing should improve in line with the improvement in PMIs seen in recent months. Valuation levels are on average relatively high, and 2021 earnings are expected to be back close to 2019 levels. With the global PMI rising, we prefer more cyclical names trading at lower multiples, especially those...

Karl Bokvist ...
  • Olof Cederholm

Sector Report - Steady improvement towards normalisation

Q3’20 report due on 23 October Maintain HOLD, SEK 240 (225) target price

Karl Bokvist ...
  • Olof Cederholm

Hexagon - Sailing through the downturn

Q3’20 report due on 28 October FX becoming a larger headwind Maintain HOLD, raise TP to SEK 700 (575)

Alexander Aukner ...
  • Frank Maaø
  • Joachim Gunell
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Stick with leadership: U.S., EM, and Hong Kong Amid the continued heightened volatility and consolidation, global support levels continue to hold and our long-term bullish outlook remains intact. Stick with outperforming markets: U.S., EM, and Hong Kong. • MSCI ACWI internals remain healthy. The MCSI ACWI price and advance-decline (A-D) line uptrends remain intact. This positive breadth signal helps support our bullish outlook... see below • Hong Kong and EM remain leadership, maintain overweights; Within EAFE, favor small-caps. EM relative strength is advancing to yet another new high ...

Karl Bokvist ...
  • Laurits Kjærgaard
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - October 2020

Global PMIs continued higher in September, reaching 54, which supports our view that demand will gradually normalise in Q4. Automotive is good, while high metal prices should support demand for mining equipment. This helps to offset weakness in oil & gas, marine, aerospace. Demand from general manufacturing should improve in line with the improvement in PMIs seen in recent months. Valuation levels are on average relatively high, and 2021 earnings are expected to be back close to 2019 levels. With the global PMI rising, we prefer more cyclical names trading at lower multiples, especially those...

Karl Bokvist ...
  • Olof Cederholm

Sector Report - Steady improvement towards normalisation

Q3’20 report due on 23 October Maintain HOLD, SEK 240 (225) target price

Karl Bokvist ...
  • Olof Cederholm

Hexagon - Sailing through the downturn

Q3’20 report due on 28 October FX becoming a larger headwind Maintain HOLD, raise TP to SEK 700 (575)

Joachim Gunell

Hexagon AB (Buy, TP: SEK705.00) - Positive trends set to continue

We are fairly in line with Infront consensus ahead of Hexagon’s Q3 report (due on 28 October), but remain 5% above on 2021–2022e EBIT. Hexagon’s 2022e EV/EBIT of 19x still screens as attractive relative to industrial software peers (30x), and we believe it should bridge some of this valuation gap as it demonstrates organic growth prospects beyond a cyclical recovery and FCF resilience. We have raised our target price to SEK705 (685), and reiterate our BUY.

Expert Corporate Governance Service (ECGS)

Hexagon – AGM 29 April 2020

Due to the uncertainty regarding the spread of the coronavirus (Covid-19), precautions will be taken. The AGM will be held as short as possible and registration will commence at 16:30 CET. No food will be served.

Expert Corporate Governance Service (ECGS)

Hexagon

In general, Hexagon is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 12, approval is sought for the (re-)election of the board of directors and the statutory auditor. Since ECGS does not approve of the (proposed) composition of the board of directors as well as the current term in office of the statutory auditor it recommends to vote OPPOSE. Under ITEM 13, it is proposed to establish a(n) (external) nomination committee. Like several  institutional investors, ECGS has concerns over the bundled form under which...

Hexagon – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Alexander Aukner ...
  • Frank Maaø
  • Joachim Gunell
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

Alexander Aukner ...
  • Joachim Gunell
  • Jon Masdal
  • Martin Hoang Nguyen
  • Ole-Andreas Krohn
  • Tomi Railo

Northern Lights

Joachim Gunell ...
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Mats Bye
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Tomi Railo

Northern Lights

Christoffer Wang Bjørnsen ...
  • Håkon Astrup
  • Joachim Gunell
  • Jørgen Lian
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Tomi Railo

Northern Lights

Mattias Holmberg ...
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

An unfavourable environment weighs on HEXAGON AB, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of HEXAGON AB (SE), active in the Software industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date August 23, 2019, the closing price was SEK 440.60 and its target price was estimated at SEK 388.28.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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