reports
- David Vagman
- CFA
EVS/Very weak 2Q, in line orders/HOLD
We trim our FY18/FY19 EPSF by 1% and 4%, cut our TP from €26 to €23, after a very weak 2Q, but in line orders and maintained (wide) guidance. Management expects a 2H rebound, fuelled by the success of the new XT Via server, shipped since August. The stock has de-rated massively since 1Q, and trades at 8x EV/EBIT, 10x PER and >10% FCF yield. We think it is too early to come back though, with margins on new products, M&A ambitions, and governance three key concerns.
- David Vagman
- CFA
EVS/2Q18 preview, model update/HOLD
We update our model ahead of the 2Q results, incorporating the estimated positive impact of the innovation box tax regime and marginally cutting our sales estimates. We up our FY18F/FY19F EPS by 40% and 10%, and our target price from €25 to €26, which is the average of our €29 DCF and €24 historical EV/EBIT multiples valuations. We are in line with the 2Q18 company-compiled consensus. Key for the story are the ramp up of new products sales and management evolution following the departure...
Benelux Morning Notes
Acomo: Stable margins in nutty markets Befimmo: no surprises, development lettings still key Bekaert: Profit alert indicating +20% cut to REBIT consensus Covivio: doubling down on development Econocom: Reassuring H1 call, €30m buy-backs a strong confidence signal EVS: Excellent news on innovation box tax regime Gecina: EPS growth target to 8% vs 3-6% Orange Belgium: In line Q2, all eyes on Belgian council of ministers Wessanen: One miss a misfortune; two in a row looks like carelessness
Benelux Morning Notes
AkzoNobel: 7% miss on EBIT as FX and raw materials continue to bite ASML: Momentum continuous to be strong BinckBank: 2Q18 preview EVS: Surprising CEO departure Flow Traders: Consensus data highlights 2Q18 was not a ‘normal' quarter PostNL: preview 2Q18 results; should provide comfort on strong Parcels Wereldhave Belgium: stable but is there organic growth?
A director bought 36,500 shares at 2.779CAD and
A director at Nevsun Resources Ltd bought 36,500 shares at 2.779CAD and the significance rating of the trade was 71/100. 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 yea...
- MarketLine Department
Nevsun Resources Ltd. - Strategy, SWOT and Corporate Finance Report
Synopsis Nevsun Resources Ltd. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Summary - Detailed information on Nevsun Resources Ltd. required for business and competitor intelligence needs - A study of the major internal and external factors affecting Nevsun Resources Ltd. in...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
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...
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