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....
No-moat Toxfree has announced that it has received approval from more than 99% of shareholders to proceed with the scheme of arrangement under which Cleanaway Waste Management will acquire the business. The Federal Court will weigh in on May 10, 2018, and assuming approval, Toxfree’s shares will be suspended from trading on May 11. We maintain our $3.425 per share fair value estimate, matching the all-cash acquisition offer from Cleanaway. Upon completion of the scheme, shareholders will recei...
We have cut our fair value estimate for no-moat-rated Tox Free Solutions to AUD 2.30 from AUD 2.60 per share due to a more bearish outlook for mining investment. According to the Australian Bureau of Statistics, March quarter 2017 resource capital expenditure was particularly weak, down 23% year on year to AUD 8.8 billion, while spending intentions were equally dismal at AUD 9.8 billion, down 26%. We had forecast declines of around 15%, and we assume that mining capital expenditure bottoms out i...
We cut our fair value to AUD 2.60 from AUD 2.90 per share, following the interim 2017 result. First-half 2017 NPAT of AUD 10.4 million (down 21%) missed our estimates by 10% and was impacted by a disappointing performance from the resource-related waste division and lower-than-expected earnings from the Worth acquisition. We expect pressure on resource-related earnings to continue in second-half 2017 before recovering slightly in 2018 as customers lift capital expenditure. We cut our EPS by 15% ...
Two Directors at Tox Free Solutions Limited bought 55,600 shares at between 2.320AUD and 2.400AUD. The significance rating of the trade was 62/100. 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 dire...
We cut our fair value to AUD 2.60 from AUD 2.90 per share, following the interim 2017 result. First-half 2017 NPAT of AUD 10.4 million (down 21%) missed our estimates by 10% and was impacted by a disappointing performance from the resource-related waste division and lower-than-expected earnings from the Worth acquisition. We expect pressure on resource-related earnings to continue in second-half 2017 before recovering slightly in 2018 as customers lift capital expenditure. We cut our EPS by 15% ...
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...
Tox Free Solutions announced it had acquired Daniels Health for AUD 186 million. Daniels delivers a market leading position in domestic medical waste solutions, collections and treatment, and operates 17 sites across Australia, including two incineration facilities in Sydney and Melbourne, as well as three joint venture managed sites in New Zealand. Customers include private and public hospitals, medical centres and aged care facilities with potential revenue synergies coming from cross sell of ...
Tox Free Solutions announced 2016 net profit after tax of AUD 13.1 million, down 41% on 2015. Like-for-like NPAT increased 1% to AUD 23.3 million, excluding AUD 10.2 million of restructuring charges. The underlying result was roughly 10% below our estimates, owing to a slightly higher tax rate and weaker resource construction spending in Western Australia and Queensland, partially offset by higher New South Wales/Victoria waste volumes. Excluding the three-month contribution from the AUD 70 mill...
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