The stock price of ICTSI continues to outperform the broader Drewry Port Equity Index. Even though the stock price is down by 11.2% YTD, it has outperformed the Drewry Port Equity index. At the current EV/EBITDA level, ICTSI’s valuation is almost at par with the Drewry Port Equity Index but is still at a 10% discount compared with its long-term average, highlighting the scope for the stock to move up. We estimate the fair value of the company at PHP 218.7, converting into a potential upside of 1...
The container ports and terminals sector is witnessing increased adoption of innovative technologies such as automation and digitalisation. Higher automation reduces labour costs, which in turn lowers operating leverage and can make operating profit more resilient. However, this may lead to strained relations with the trade union. Currently, terminal operators are opting for varying degrees of automation, depending on their financial and technical resources. We are optimistic about the current a...
Two Directors at Ict Group Nv sold 64,662 shares at 14.500EUR. The significance rating of the trade was 96/100. 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 sh...
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....
On 5 August 2021, International Container Terminal Services, Inc (ICTSI) reported robust 1H21 financial results. The company’s volume, revenue and EBITDA, all increased by double digits. On YTD ending 4 August 2021, the company’s stock price gained 39% as over the Drewry port index’s 19.6%. Despite the run-up, ICTSI still trades well below the industry EV/EBITDA average, highlighting the stock’s potential to move up. we remain bullish on the stock and will revise our fair value and rating in our...
On 04 March 2021, International Container Terminal Services, Inc. (ICTSI) reported its FY2020 results. Revenue from the port operations grew 1.6% YoY to USD 1.5bn. Despite the fragile operating environment, EBITDA and revenue growth spread kept on increasing in 2020 benefitting from the company’s cost reduction measures. With the sudden spike in the US treasury rates, equity markets should witness higher volatility in the upcoming quarters. Investors should use this volatility to consolidate the...
We rate the company as Attractive with a fair value of PHP 129. The industry fundamentals remain intact (long-term client relationship, higher barriers to entry, price inelasticity of demand and the importance of ports in the overall international logistics). Moreover, ICTSI’s high exposure to high-growth frontier markets should result in faster recovery as the economies move towards normalcy. Also, in the era of heightened uncertainty these emerging markets (characterised as low containerised e...
ICTSI delivered strong growth across throughput, revenues and net income while maintaining its net debt position. Asia led top-line growth followed by EMEA and the Americas. The current bull price run is a vote of confidence in the abilities of management to deliver strong above-peer group profitability. Valuation is neutral given steep appreciation in share price since the start of the year. Demand driven by the boom in Philippines economy is a medium-term catalyst. On the flipside, growth plan...
ICTSI posted an overall increase in 2Q18, its volumes were up 5.1% q/q, its revenue from port operations grew 10% q/q. Extension of contracts with shipping lines is giving a vital boost to its outlook, offset by global growth concerns. Revenue yield inched up 6% q/q with EMEA leading the segments due to a profitable cargo mix. ICTSI continues to be on global expansion spree with terminal of VICT and in PNG ramping up, pressures from expansionary drive is also dragging EBITDA growth. We retain ou...
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.