A director at Sonae SGPS S.A. bought 331,248 shares at 0.906EUR and the significance rating of the trade was 54/100. 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 clear...
SONAE SGPS (PT), a company active in the Food Retailers & Wholesalers industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 3 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date March 25, 2022, the closing price was EU...
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....
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Due to a reallocation of resources, Haitong Research is terminating coverage of Jerónimo Martins (JMT PL), Sonae (SON PL) and Inditex (ITX SM). Effective upon this termination of coverage, our last recommendations, fair values and estimates should not be relied upon going forward.
We present our 30th Iberian Silver Bullets, where once again our selection includes large cap companies with strong fundamental upside/downside or that are linked to a specific event that could drive out/underperformance in the next three months. We maintain Euskaltel, Jerónimo Martins, MásMóvil, Navigator and Sonae.
We have incorporated the stronger than we expected Q4 sales into our numbers but the overall impact on earnings has been below 1% as we kept ‘19e-‘20e LfL and space growth assumptions for the main divisions and we have trimmed electronics’ margin forecasts. We believe that Worten’s sales beat was mostly achieved through heavy promotions in the Black Friday period, whose growing weight on Q4 and FY sales should take its toll in terms of EBITDA margin. As for the valuation, the small sales...
We present our 29th Iberian Silver Bullets, where we once again widen our selection to include large cap companies with strong fundamental upside/downside or that are linked to a specific event that could drive out/underperformance in the next three months. We maintain Navigator, MásMóvil and Jerónimo Martins and add as new ideas Euskaltel, REN and Sonae.
Sonae will publish its 4Q18 sales on Jan 23 and results on March 21 and we expect it to benefit from the buoyant consumer backdrop in Portugal. Both food and non-food retail sales have been quite strong for Oct/Nov and, based on Pingo Doce’s very solid Q4 LfL, we believe it is fair to assume that Dec was also quite strong. We forecast MC to deliver a LfL of 2.3%, in line with Q3 despite a 3pp tougher comp, and we assume a stable EBITDA margin YoY. In Electronics, the very tough comp should dri...
La tendance est baissière. Le rebond gagne en vigueur. Il est probable que cette reprise s'achève sur la résistance à 0,8792 € et que les prix baissent à nouveau vers 0,7479 €. La tendance de fond serait remise en cause en cas de franchissement de 1,0000 €.
The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €0.8792. The next target is at €0.7479, then €0.7000. Passing €1.0000 would question the continuation of the fall.
La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 0,8792 € prochainement. Le prochain objectif est à 0,7479 €, puis 0,7000 €. Le franchissement de 1,0000 € remettrait en cause la suite de la baisse.
Following a period of restriction, we reinstate coverage of Sonae with a BUY rating and a Eur1.25 FV. We think the shares have been unfairly penalised by: i) the uncertainty around the valuation readacross from the cancelled IPO of Sonae MC and potential reinvestment risk; ii) the unexpected CEO change; and iii) the acquisition of a further 20% stake in Sonae Sierra at a time when shopping centres seem out of favour and rental yields in Europe are close to historical lows. On the first issue, we...
La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 0,8929 €. La tendance de fond serait remise en cause en cas de franchissement de 1,0393 €.
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