A director at Harvey Norman Holdings Limited sold 685,567 shares at 4.737AUD and the significance rating of the trade was 68/100. 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 tw...
HARVEY NORMAN HOLDINGS (AU), a company active in the Broadline Retailers industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 11, 2022, the closing price was AUD 5.38 and it...
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....
Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral o...
Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these theme...
We’ve lowered our earnings estimates for no-moat Harvey Norman’s portfolio segment, because we predict steady declines in footfall to impede on meaningful rent increases. We have cut our long-term rental growth forecast and now expect flat rental income over the next decade, from an already cautious 2.5% average growth rate previously. Our fair value estimate decreases by 6% to AUD 3.20 per share. Many retailers are rationalising their store networks, such as Target, Big W, and Myer, and ev...
We’ve lowered our earnings estimates for no-moat Harvey Norman’s portfolio segment, because we predict steady declines in footfall to impede on meaningful rent increases. We have cut our long-term rental growth forecast and now expect flat rental income over the next decade, from an already cautious 2.5% average growth rate previously. Our fair value estimate decreases by 6% to AUD 3.20 per share. Many retailers are rationalising their store networks, such as Target, Big W, and Myer, and ev...
We’ve lowered our earnings estimates for no-moat Harvey Norman’s portfolio segment, because we predict steady declines in footfall to impede on meaningful rent increases. We have cut our long-term rental growth forecast and now expect flat rental income over the next decade, from an already cautious 2.5% average growth rate previously. Our fair value estimate decreases by 6% to AUD 3.20 per share. Many retailers are rationalising their store networks, such as Target, Big W, and Myer, and eve...
No-moat rated Harvey Norman’s first-half sales and profit growth tracked below our prior full-year expectations, and we’ve slightly downgraded our near-term outlook. After a slow first half in the core Australian franchising operation, we expect the remainder of fiscal 2019 to be challenging as consumers grapple with relatively sluggish wage growth, a weakening housing market, and associated negative wealth effect as well as uncertainty around the upcoming Australian federal elections in May...
No-moat rated Harvey Norman’s first-half sales and profit growth tracked below our prior full-year expectations, and we’ve slightly downgraded our near-term outlook. After a slow first half in the core Australian franchising operation, we expect the remainder of fiscal 2019 to be challenging as consumers grapple with relatively sluggish wage growth, a weakening housing market, and associated negative wealth effect as well as uncertainty around the upcoming Australian federal elections in May...
No-moat rated Harvey Norman’s first-half sales and profit growth tracked below our prior full-year expectations, and we’ve slightly downgraded our near-term outlook. After a slow first half in the core Australian franchising operation, we expect the remainder of fiscal 2019 to be challenging as consumers grapple with relatively sluggish wage growth, a weakening housing market, and associated negative wealth effect as well as uncertainty around the upcoming Australian federal elections in May...
We increase our fiscal 2019 group sales growth estimate for no-moat Harvey Norman to 4.5% from 4.2% following a trading update at the company’s annual general meeting, with total sales year to date up 2.7%. Our five-year EPS compound annual growth rate is unchanged at 2%, as are our fiscal 2019 EPS estimate of AUD 0.34 and our fair value estimate of AUD 3.40 per share. Our long-term investment thesis is unchanged. We forecast intense competition from JB Hi-Fi, The Good Guys, and Amazon in the ...
We increase our fiscal 2019 group sales growth estimate for no-moat Harvey Norman to 4.5% from 4.2% following a trading update at the company’s annual general meeting, with total sales year to date up 2.7%. Our five-year EPS compound annual growth rate is unchanged at 2%, as are our fiscal 2019 EPS estimate of AUD 0.34 and our fair value estimate of AUD 3.40 per share. Our long-term investment thesis is unchanged. We forecast intense competition from JB Hi-Fi, The Good Guys, and Amazon in the ...
Australian retailers saw very little from Amazon Australia, or Amazon AU, in fiscal 2018, but we think this is bound to gradually change. We expect Amazon AU's revenue will grow from next to nothing to AUD 24 billion in fiscal 2028, representing 5% of total retail spending. Amazon AU's strategy is striving to be the online retailer of choice. We expect it to win the hearts and minds of Australians, but not by recklessly dropping prices. Instead, we see the online giant offering industry-leading ...
Australian retailers saw very little from Amazon Australia, or Amazon AU, in fiscal 2018, but we think this is bound to gradually change. We expect Amazon AU's revenue will grow from next to nothing to AUD 24 billion in fiscal 2028, representing 5% of total retail spending. Amazon AU's strategy is striving to be the online retailer of choice. We expect it to win the hearts and minds of Australians, but not by recklessly dropping prices. Instead, we see the online giant offering industry-leading ...
There was little to excite us in no-moat-rated Harvey Norman’s full-year results to June 2018, and even the core Australian franchisees segment saw its sales momentum further deteriorate in the first two months of fiscal 2019. Together with the results, management announced a renounceable entitlement offer to raise some AUD 164 million to keep its gearing in check. The offer price of AUD 2.50 per share is well below our fair value estimate and the current share price. A top-up facility provide...
There was little to excite us in Harvey Norman’s full-year results to June 2018, and even the core Australian franchisees segment saw its sales momentum further deteriorate in the first two months of fiscal 2019. Together with the results, management announced a renounceable entitlement offer to raise some AUD 164 million to keep its gearing in check. The offer price of AUD 2.50 per share is well below our fair value estimate and the current share price. A top-up facility provides eligible sha...
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