reports
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Major Base Supports Holding Following last week's pullback, a consistent theme we are seeing is that many broad market indexes and Sector ETFs are holding above (and bouncing at) major base supports. As long as these base supports continue to hold, it tells us this is likely just a normal pullback within the overall bullish trend. Important supports that we need to see hold in order to remain bullish include 4600 on the S&P 500 and 14,400 on the Nasdaq Composite. Pullbacks to Base Supports. Br...
AFL AFLAC INCORPORATED
PFG PRINCIPAL FINANCIAL GROUP INC.
OMI OWENS & MINOR INC.
MFC. MANULIFE FINANCIAL CORPORATION
PRU PRUDENTIAL FINANCIAL INC.
MET METLIFE INC.
MCK MCKESSON CORPORATION
10JC EOH HOLDINGS LTD.
CAH CARDINAL HEALTH INC.
GL GLOBE LIFE INC.
ABC ABC CO SPA
CRBG COREBRIDGE FINANCIAL INC.
AEG AEGIS BRANDS INC
- Ruhan du Plessis
EOH | Standing, but forced into a corner
EOH's FY'19 earnings included R3.2bn of once-off costs to accurately represent the state of the balance sheet and businesses, following the previous management team's inappropriate business practises. Current management highlights R3.7bn of suspicious acquisitions and transactions between FY'13 and FY'17, which required R3.4bn of debt and generated no cashflow for the Group. We do not believe the existing businesses can service the debt due to further requirements to manage and close-out non-pro...
- Ruhan Du Plessis
EOH | Removing the gangrene
After 20 years of expansion and cR7.6bn of acquisitions, EOH recorded R3bn of once-off costs and impairments in its H1'19 results as it reassessed its operations. Positively, with new executive management, the Group is rationalising its portfolio for more sustainable growth. EOH will dispose of its low margin and loss-making businesses to improve cash generation. The disposals should reduce group revenue by c.21% (R3.4bn of annual revenues), with management signalling that it could raise R1bn...
1 director bought
A director at EOH Holdings Limited bought 250,000 shares at 33.092ZAR and the significance rating of the trade was 100/100. 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 year...
- Ruhan Du Plessis
EOH | Work in progress
FY'18 was the most difficult year in EOH's 20-year history, given news allegations of corruption in government tendering, the reversal of the GCT acquisition, its first decline in HEPS and a 78% decline of its share price. GCT cost EOH close to ZAR400m in losses recognised in H1'18 with a further c.ZAR400m in receivables that are unlikely to be recovered, in our view. In total, EOH incurred c.ZAR890m in once-off losses from the GCT reversal and restructuring of the Group during FY'18. The Gro...
Avior ESG,EOH,MTN,Resilient, Steinhoff | Corporate Governance in SA - ...
A number of destructive events in SA's recent corporate history could be attributed to failures in corporate governance. In spite of a world class framework, as formalised by the King Codes on Corporate Governance, local companies continue to test the boundaries of best practice. In this report we assess recent governance failures, and attempt to draw conclusions around the shortcomings that may have given rise to such value destruction. In our view, one of the key themes to emerge in the wake...
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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