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...

An unfavourable environment weighs on INNOGY SE, which sees a downgrade to Neutral

The independent financial analyst theScreener just requalified the general evaluation of INNOGY SE (DE), active in the Multiutilities industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date April 21, 2020, the closing price was EUR 43.32 and its target price was estimated at EUR 41.15.

ODDO : Although it is of great utility, the sector is not immune

Utilities meet fundamental needs, but are not immune to the public health crisis. Several groups (Encavis, Verbund, Neoen, Suez, Engie and Veolia) have already factored the crisis into or suspended their guidance. Others (Fortum and Naturgy) have not communicated at this stage. Finally, the remaining companies (E.ON, EDF, Iberdrola, Enel, RWE, Nordex and Voltalia) have confirmed their trajectory for 2020. The revisions to our estimates impact a limited number of stocks (EDF, Fort...

2025 Sustainability Forum feedback: still on course in the face of headwinds

$Sector1$# This year, companies provided feedback on their first CSRD reports: for most, we note a limited strategic advantage but a beneficial standardisation of data. Regulatory developments on both sides of the Atlantic have not affected sustainability strategies. Tariff announcements in the US raise questions about the potential social impacts. Companies with locally rooted skills are proving resilient. In terms of stocks, Kering (Best-in-Class ESG opinion vs Neutral), Elis, Séché Environnement (Best-in-Class ESG opinion), Bureau Veritas, Saint-Gobain (Best-in-Class ESG opinion), Enel and ...

Feedback Forum Sustainability 2025 : cap maintenu face aux vents contraires

$Sector1$# Cette année, les sociétés ont livré leur retour d’expérience des premiers rapports CSRD : pour la plupart, nous notons un intérêt stratégique limité mais une standardisation des données bénéfique. Les évolutions réglementaires des deux côtés de l’Atlantique n'ont pas affecté les stratégies de durabilité. Les annonces de droits de douane aux US interrogent sur les impacts sociaux potentiels. Les sociétés bénéficiant d’un ancrage territorial des compétences se montrent résilientes. Côté valeurs, Kering (Opinion ESG Best-in-Class vs Neutre), Elis, Séché Environnement (Opinion ESG Best-...

BT Group : FY 2026 FCF guidance below the consensus