Morningstar - OzForex Group (OFX) OFX Groupâ€™s Earnings Downgrade Prompts a Moderate FVE Reduction

Report

Morningstar

Chanaka Gunasekera

EUR 100.00 For Business Accounts Only

OFX Groupâ€™s Earnings Downgrade Prompts a Moderate FVE Reduction

We have cut our fiscal 2019 EBITDA forecast for no-moat-rated OFX Group by 5% to AUD 31.8 million following managementâ€™s lowered guidance of AUD 30.9 million to AUD 32.0 million. Our lower fiscal 2019 forecast causes a reduction in later year forecasts and has reduced our fair value estimate by 6% to AUD 1.70 per share. However, at the current market price of AUD 1.65, the stock remains fairly valued.
The downgrade was mainly caused by lower than expected foreign exchange rate volatility, and gl...

22/03/2019 13 EN

Underlying

OzForex Group

OFX Group is engaged in the provision of international payments and foreign exchange services. Co. offers fast international money transfers at competitive rates for individuals & businesses. Co.'s two products are international payment services and international payment solutions. International payment services are monitored by geographic region (based on client location) and provide bank to bank currency transfers servicing businesses and consumers. International payment solutions are monitored globally and provide strategic partners with a package which includes: OFX Technology platform; client service; compliance sophistication; banking relationships; and payments capabilities.

See profile

AU000000OFX5 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

See profile

Analysts

Chanaka Gunasekera

Other Reports on these Companies

SmartInsider

OFX Group Limited: 1 director

A director at OFX Group Limited bought 21,500 shares at 1.390AUD and the significance rating of the trade was 68/100. 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 listing rules. The names of b...

Free Trial

November 22, 2024 November 22, 2024 1 EN

BusinessWire

OFX Completes C$90m Acquisition of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)

SYDNEY--(BUSINESS WIRE)-- OFX Group Limited (OFX) today announced it has completed its acquisition of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m). The transaction expands OFX’s capability and presence as a global foreign exchange and payments provider. OFX Chief Executive Officer and Managing Director, Skander Malcolm said: “We’re excited to complete our first major acquisition, and to welcome our new clients and colleagues. As we bring our businesses together, our first priority will be ensuring there is no disruption to Firma clients or employees. W...

May 2, 2022 May 2, 2022 1 EN

BusinessWire

OFX to Acquire 100% of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)

SYDNEY--(BUSINESS WIRE)-- OFX Group Limited (OFX) today announces that it has entered into an agreement to acquire 100% of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m). Based in Edmonton, Canada and founded in 1998, Firma is a global foreign exchange service provider servicing Corporate clients. As at 30 September 2021, Firma had 194 employees, over 9,600 Corporate customers and operates from 9 offices in Canada, Australia, the UK, and New Zealand. Firma’s key products include spot and market orders, multi-currency accounts, payments and mass payments...

December 20, 2021 December 20, 2021 1 EN

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Contract manufacturer Lonza reported solid half-year results, with over CHF 2.9 billion in total sales year to date, up about 6.4% from last year and boosted by foreign exchange tailwinds. Core EBITDA margin expanded 30 basis points from last year to about 27.8%, helped slightly by new accounting standards. Management indicated that it continues to expect mid- to high-single-digit sales growth in 2019. We are maintaining our fair value estimate of CHF 210 per share and our no-moat rating. The ph...

EUR 100.00

July 25, 2019 July 25, 2019 13 EN

Damien Conover

Damien Conover

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

We don't expect any major changes to our AstraZeneca fair value estimate following second-quarter results that largely fell in line with our expectations and slightly ahead of consensus expectations. Overall, the company is posting leading Big Pharma sales growth with total sales up 18% operationally year over year, led by impressive cancer drug sales growth of 57%. Astra's ability to continue to bring next generation drugs to the market that address unmet medical need (especially in oncology) s...

EUR 100.00

July 25, 2019 July 25, 2019 14 EN

Damien Conover

Damien Conover

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

EUR 100.00

July 25, 2019 July 25, 2019 14 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

OFX Groupâ€™s Earnings Downgrade Prompts a Moderate FVE Reduction

OFX Group Limited: 1 director

OFX Completes C$90m Acquisition of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)

OFX to Acquire 100% of Canadian Corporate Foreign Exchange Business Firma Foreign Exchange Corporation (Firma)

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe