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....
AINSWORTH GAME TECH.LTD. (AU), a company active in the Gambling industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date February 28, 2020, the closing price was AUD 0...
Narrow-moat-rated Ainsworth Game Technology downgraded earnings guidance for the second half of fiscal 2019. Underlying profit before tax (precurrency) is expected to be around AUD 4 million in the six months ending June 30, 2019. This compares with prior guidance for at least AUD 18 million during fiscal 2019 and falls short of our AUD 22 million forecast. A disappointing outcome, which management attributes to the intense competitive pressure, along with delays in product approvals. The firm h...
Ainsworth Game Technology is an electronics gaming machine manufacturer, boasting a narrow economic moat furnished by its portfolio of licences to sell into various jurisdictions. The company was founded by one of the true pioneers of the industry in Leonard Ainsworth. Having established itself as a reputable player in the mature domestic market, it is pursuing opportunities overseas, where earnings are growing and more licences are being secured. All this is driven by the well-recognised qualit...
Narrow-moat-rated Ainsworth Game Technology downgraded earnings guidance for the second half of fiscal 2019. Underlying profit before tax (precurrency) is expected to be around AUD 4 million in the six months ending June 30, 2019. This compares with prior guidance for at least AUD 18 million during fiscal 2019 and falls short of our AUD 22 million forecast. A disappointing outcome, which management attributes to the intense competitive pressure, along with delays in product approvals. The firm h...
Narrow-moat Ainsworth reported a weak start to fiscal 2019, with adjusted profit before tax, or PBT, of AUD 9 million, down 45% on the pcp, albeit marginally ahead of the AUD 8 million guidance. Unsurprisingly, the main challenge the company faced was intense competition in the Australian market, which led to an approximate halving of unit volume and revenue, along with margin compression. There were, however, a few positives in the result, the most noteworthy being: 1) strong international reve...
Narrow-moat Ainsworth reported a weak start to fiscal 2019, with adjusted profit before tax, or PBT, of AUD 9 million, down 45% on the pcp, albeit marginally ahead of the AUD 8 million guidance. Unsurprisingly, the main challenge the company faced was intense competition in the Australian market, which led to an approximate halving of unit volume and revenue, along with margin compression. There were, however, a few positives in the result, the most noteworthy being: 1) strong international reve...
Ainsworth Game Technology is an electronics gaming machine manufacturer, boasting a narrow economic moat furnished by its portfolio of licences to sell into various jurisdictions. The company was founded by one of the true pioneers of the industry in Leonard Ainsworth. Having established itself as a reputable player in the mature domestic market, it is pursuing opportunities overseas, where earnings are growing and more licences are being secured. All this is driven by the well-recognised qualit...
Narrow-moat Ainsworth reported a weak start to fiscal 2019, with adjusted profit before tax, or PBT, of AUD 9 million, down 45% on the pcp, albeit marginally ahead of the AUD 8 million guidance. Unsurprisingly, the main challenge the company faced was intense competition in the Australian market, which led to an approximate halving of unit volume and revenue, along with margin compression. There were, however, a few positives in the result, the most noteworthy being: 1) strong international reve...
We cut our earnings estimates for narrow-moat Ainsworth in fiscal 2019, 2020, and 2021 by around 40% on average to AUD 6.0, 6.7, and 7.5 cents per share. Our fair value estimate falls to AUD 1.20 per share from AUD 1.70 on the back of our revised view of the company’s longer-term prospects. In a disappointing trading update, Ainsworth guided to fiscal 2019 first-half profit before tax of around AUD 8 million, a 30% drop on the previous corresponding period. Management expects second-half PBT t...
A director at Ainsworth Game Technology Limited bought 50,000 shares at 0.790AUD and the significance rating of the trade was 55/100. 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 las...
We cut our earnings estimates for narrow-moat Ainsworth in fiscal 2019, 2020, and 2021 by around 40% on average to AUD 6.0, 6.7, and 7.5 cents per share. Our fair value estimate falls to AUD 1.20 per share from AUD 1.70 on the back of our revised view of the company’s longer-term prospects. In a disappointing trading update, Ainsworth guided to fiscal 2019 first-half profit before tax of around AUD 8 million, a 30% drop on the previous corresponding period. Management expects second-half PBT t...
We cut our earnings estimates for narrow-moat Ainsworth in fiscal 2019, 2020, and 2021 by around 40% on average to AUD 6.0, 6.7, and 7.5 cents per share. Our fair value estimate falls to AUD 1.20 per share from AUD 1.70 on the back of our revised view of the company’s longer-term prospects. In a disappointing trading update, Ainsworth guided to fiscal 2019 first-half profit before tax of around AUD 8 million, a 30% drop on the previous corresponding period. Management expects second-half PBT t...
Ainsworth Game Technology is an electronics gaming machine manufacturer, boasting a narrow economic moat furnished by its portfolio of licences to sell into various jurisdictions. The company was founded by one of the true pioneers of the industry in Leonard Ainsworth. Having established itself as a reputable player in the mature domestic market, it is pursuing opportunities overseas, where earnings are growing and more licences are being secured. All this is driven by the well-recognised qualit...
Ainsworth Game Technology has announced Danny Gladstone plans to step down from his position as CEO by the end of fiscal 2019. He will remain in the role until a replacement CEO is appointed, at which point he will stay with the company, albeit in a different capacity. Ainsworth's performance during Gladstone's decade-long tenure as CEO has been mixed. While we believe he is not solely responsible for the underperformance endured in recent years, we do believe fresh leadership could potentially ...
Ainsworth Game Technology has announced Danny Gladstone plans to step down from his position as CEO by the end of fiscal 2019. He will remain in the role until a replacement CEO is appointed, at which point he will stay with the company, albeit in a different capacity. Ainsworth's performance during Gladstone's decade-long tenure as CEO has been mixed. While we believe he is not solely responsible for the underperformance endured in recent years, we do believe fresh leadership could potentially ...
Ainsworth Game Technology is an electronics gaming machine manufacturer, boasting a narrow economic moat furnished by its portfolio of licences to sell into various jurisdictions. The company was founded by one of the true pioneers of the industry in Leonard Ainsworth. Having established itself as one of the top players in the mature domestic market, it is pursuing opportunities overseas, where earnings are growing strongly and more licences are being secured. All this is driven by the well-reco...
Ainsworth Game Technology has announced Danny Gladstone plans to step down from his position as CEO by the end of fiscal 2019. He will remain in the role until a replacement CEO is appointed, at which point he will stay with the company, albeit in a different capacity. Ainsworth's performance during Gladstone's decade-long tenure as CEO has been mixed. While we believe he is not solely responsible for the underperformance endured in recent years, we do believe fresh leadership could potentially ...
Fiscal 2018 was a challenging year for narrow-moat-rated Ainsworth. Underlying profit before tax declined by 32% to AUD 39 million, although this weakness had been previously flagged, and the result was broadly in line with our expectations. Accordingly, our AUD 1.70 per share fair value estimate is unchanged. The main contributors to the earnings pressure were continued market share losses in the domestic market and rest of the world, along with lower margins in North America. On a more positiv...
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