Edison Investment Research - Tourism Holdings (THL) Initiation: Roam free

Report

Edison Investment Research

Initiation: Roam free

Tourism Holdings (THL) is a New Zealand-based provider of tourism products for the â€˜roam freeâ€™ free independent traveller (FIT) market. It has operations in New Zealand, Australia and the US. Its main product is motorhome rental and it also offers attractions and guided tours in New Zealand. THL has a rejuvenated board and is on a journey to restore return on capital employed (ROCE) to 14%, after a period where overcapacity in the New Zealand market reached 25% and THLâ€™s FY13 ROCE fell to 5.5%. It acquired two smaller players in November 2012 and has since reduced the New Zealand fleet by 22% (~550 motorhomes). Our peer comparison valuation, supported by our DCF model, suggests a value of NZ$1.65 per share.

28/08/2014 16 EN

Underlying

Tourism Holdings

Tourism Holdings is engaged in the manufacture, rental and sale of motor homes and campervans and other tourism related activities. Co. is organized into three business segments: Rentals, Ci Munro and Tourism Group.

See profile

NZHELE0001S9 NZX New Zealand

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

See profile

Other Reports on these Companies

SmartInsider

Tourism Holdings Limited: 2 directors

Two Directors at Tourism Holdings Limited sold 128,955 shares at between 3.390NZD and 3.390NZD. The significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under list...

Free Trial

March 15, 2024 March 15, 2024 1 EN

TheScreener

TOURISM HOLDINGS is slightly downgraded to Slightly Positive due to an increasingly adverse environment

The independent financial analyst theScreener just slightly lowered the general evaluation of TOURISM HOLDINGS (NZ), active in the Transportation Services industry. As regards its fundamental valuation, the title confirms its rating of 4 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of the analysis date October 1, 2021, the closing price was NZD 2.65 and its potential was estimated at NZ...

Free Trial

October 2, 2021 October 2, 2021 6 EN

Independent Investment Research

Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

August 6, 2021 August 6, 2021 10 EN

discoverIE Group - FY24 EPS in line; good margin progress

discoverIE anticipates reporting FY24 underlying EPS in line with board expectations. After a period in mid-FY24 of working down inventory, customers appear to be reverting to normal ordering patterns, with Q424 organic revenue growth of 2% y-o-y and 11% q-o-q and a strong pipeline of design wins at year-end. We have revised our forecasts to reflect lower revenue, partly due to a disposal, but maintain our profit forecasts, which results in operating margin expansion in FY24 and FY25.

12h / 21m 12h / 21m 1 EN

Sean Conroy

Sean Conroy

Ultimovacs - Steadfast commitment to UV1 progression

Despite the recent setback with the INITIUM trial (first-line treatment of patients with unresectable or metastatic malignant melanoma), Ultimovacs has reinstated its commitment to press on with its clinical development of its cancer vaccine, UV1, across other target indications. The principal near-term focus will be on the anticipated results of Phase II FOCUS (head and neck cancer) and DOVACC (ovarian cancer) trials in Q324 and H125, respectively, and will inform its subsequent strategic direction. To remain funded to these milestones, the company has enforced stringent cost control measures...

April 18, 2024 April 18, 2024 1 EN

Sean Conroy

Sean Conroy

OSE Immunotherapeutics - AbbVie deal clears antitrust hurdle

OSE has announced that its licence agreement with AbbVie has cleared antitrust review and has become effective. As previously noted, this is expected to support OSE’s runway extension into 2026, past key milestones and readouts for in-house assets Tedopi (non-small cell lung cancer, US Phase III trials expected to commence in Q224) and Lusvertikimab (ulcerative colitis, Phase II readouts expected in mid-2024). Following the Federal Communications Commission (FCC) mandatory waiting period, OSE is expected to receive the negotiated US$48m upfront payment from AbbVie imminently, as part of its gl...

April 18, 2024 April 18, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN