reports
- María Leiva
San Miguel: Citrus season led to recovery in 3Q,but below estimates
At the end of the citrus season, the company seems to have reasonably overcome the challenges and complications that occurred throughout the year. Although production and exports in Argentina were below 2019 levels, regional diversification in citrus production and commercialisation allowed the company to counteract that fall. In addition, good conditions remain for the Peruvian grape campaign in the last quarter. The level of debt is within the normal course of business, hence our rating of ...
- María Leiva
San Miguel: Production recovery, logistics management and high demand ...
Despite the closure of the European market for fresh lemon in July and inconveniences caused by the appearance of COVID-19 during the first semester, lemon production in Argentina recovered compared to last year and exports from other countries were also higher than in 2019. In addition, market conditions improved due to earlier increased demand for fruit and higher prices for sweet citrus. The level of debt is within an adequate level for the normal course of business and we maintain the rat...
- Agustín Giannattasio
- Juan Guma
Argentina strategy: Despite low valuations, Covid-19 uncertainty weigh...
Domestic stocks continue continued on an uncertain path, influenced by the developed markets’ volatility driven by the coronavirus outbreak and oil crisis. Companies with a high percentage of dollar-denominated revenues, lower operating exposure to the domestic market and low debt levels would act as a hedge in the current scenario. The stock market could strongly correct again if the Government declares a default. Furthermore, global markets’ performance would continue to be the main short-...
- Agustín Giannattasio
- Juan Guma
Argentina Equity Market Weekly
Domestic stocks continued slumping, in line with the international trend, driven by the coronavirus outbreak and oil crisis. Companies with a high percentage of dollar-denominated revenues, lower operating exposure to the domestic market and low debt levels would act as a hedge in the current scenario. The stock market could strongly correct again if the government declares a default. Furthermore, global markets’ performance would continue to be the main short-term driver for domestic stocks ....
- Agustín Giannattasio
- Juan Guma
Argentina Equity Strategy Weekly
Domestic stocks continued slumping, in line with developed markets, driven by the coronavirus outbreak and oil crisis. Companies with a high percentage of dollar-denominated revenue, lower operating exposure to the domestic market and low debt level would act as a hedge in the current scenario. The stock market could strongly correct again if the Government declares a default. Furthermore, global markets’ performance would continue to be the main short-term driver for domestic stocks in the m....
- María Leiva
Indebtedness levels continue within historic figures
Lemon production in Argentina was negatively affected by adverse weather conditions which had an impact on fruit quality and sales. Nonetheless, in other subsidiaries (South Africa, Uruguay and Peru) Fresh Fruit (FF) production was above last year´s, with optimum conditions for the production and trade of avocado from Peru. Processed Food (PF) business lagged estimates of processed volumes, which resulted in lower sales of juice and fruit peel. Results 1Q-3Q 19: Net sales totaled ARS 5.3b (-1.....
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...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.