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Port of Tauranga Limited: 1 director
A director at Port of Tauranga Limited maiden bought 15,000 shares at 6.222NZD and the significance rating of the trade was 70/100. 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 ...
PORT OF TAURANGA sees a downgrade to Slightly Negative on account of l...
The independent financial analyst theScreener just lowered the general evaluation of PORT OF TAURANGA (NZ), active in the Transportation Services industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date February 22, 2022, the closing price w...
- Adrian Atkins
Morningstar | POT Now Trading Way Above FVE
Port of Tauranga’s share price continues to defy gravity, rising around 20% in the past six months as global bond yields fall and equities rally. At the risk of sounding like a broken record, there’s no change in our view the port is overvalued. It offers a paltry yield of 2.2% fully imputed. While EPS growth is respectable at around 7% per year in coming years, this doesn’t justify the massive P/E ratio of 41 based on the current NZD 6 share price. There is no change to our NZD 4.00 per s...
- Adrian Atkins
POT Now Trading Way Above FVE
Port of Tauranga’s share price continues to defy gravity, rising around 20% in the past six months as global bond yields fall and equities rally. At the risk of sounding like a broken record, there’s no change in our view the port is overvalued. It offers a paltry yield of 2.2% fully imputed. While EPS growth is respectable at around 7% per year in coming years, this doesn’t justify the massive P/E ratio of 41 based on the current NZD 6 share price. There is no change to our NZD 4.00 per s...
- Adrian Atkins
Morningstar | Port of Tauranga’s Strong Volume Growth Translates to ...
Wide-moat Port of Tauranga’s first-half fiscal 2019 NPAT rose 4% to NZD 49 million. Management expects full-year earnings to come in at the top of the previous guidance range of NZD 96 to 101 million, in line with our prior expectations. We make minor adjustments to our forecasts--revenue is tracking above prior expectations thanks to strong volume growth but so too are costs. Our bottom line fiscal 2019 earnings forecast is largely unchanged and we maintain our NZD 4.00 per share fair value e...
- Adrian Atkins
Morningstar | Port of Tauranga's Strong Competitive Position Does not ...
Port of Tauranga is the most productive and efficient port in Australasia. Trade volumes have increased dramatically, aided by logs and containers. Container volumes have been particularly impressive, as the company continues to gain market share. Log and forestry volumes have been on an uptrend as a result of increased demand from Asia, but we see risks to this trend from a potential weakening of China's housing market. Nonetheless, we estimate that trade volumes will double in 12 years, given ...
- Adrian Atkins
Port of Tauranga’s Strong Volume Growth Translates to Only Modest Ea...
Wide-moat Port of Tauranga’s first-half fiscal 2019 NPAT rose 4% to NZD 49 million. Management expects full-year earnings to come in at the top of the previous guidance range of NZD 96 to 101 million, in line with our prior expectations. We make minor adjustments to our forecasts--revenue is tracking above prior expectations thanks to strong volume growth but so too are costs. Our bottom line fiscal 2019 earnings forecast is largely unchanged and we maintain our NZD 4.00 per share fair value e...
- Adrian Atkins
Port of Tauranga's Strong Competitive Position Does not Justify its Lo...
We make no changes to our fair value estimate for Port of Tauranga, or POT, of NZD 4.00 per share, and consider it overvalued at current prices around NZD 4.93. Its share price has held up well through the recent market correction, leaving the window open for shareholders wanting to get out at a good price. In the past three months, the Port’s share price has been relatively flat, compared with a 6% fall in the NZX 50, an 11% fall in the Australian S&P/ASX 200 and a 14% fall in the U.S. S&am.....
- Adrian Atkins
Morningstar | POT Still Too Expensive
We make no changes to our fair value estimate for Port of Tauranga, or POT, of NZD 4.00 per share, and consider it overvalued at current prices around NZD 4.93. Its share price has held up well through the recent market correction, leaving the window open for shareholders wanting to get out at a good price. In the past three months, the Port’s share price has been relatively flat, compared with a 6% fall in the NZX 50, an 11% fall in the Australian S&P/ASX 200 and a 14% fall in the U.S. S&P 50...
- Adrian Atkins
Morningstar | Port of Tauranga Wraps Up Another Good Year; FVE up 5%
Wide-moat Port of Tauranga had another good year, with net profit after tax up 13% to NZD 94 million for fiscal 2018, in line with our expectations and the midpoint of guidance. The outlook remains positive as benefits from the hub port strategy and the recent upgrade drive ongoing growth in market share. Fiscal 2019 earnings guidance will be given at the annual shareholders meeting on Oct. 17. We increase our forecasts modestly and lift our fair value estimate 5% to NZD 4.00. At current prices,...
- Adrian Atkins
Morningstar | Port of Tauranga Wraps Up Another Good Year; FVE up 5%. ...
Wide-moat Port of Tauranga had another good year, with net profit after tax up 13% to NZD 94 million for fiscal 2018, in line with our expectations and the midpoint of guidance. The outlook remains positive as benefits from the hub port strategy and the recent upgrade drive ongoing growth in market share. Fiscal 2019 earnings guidance will be given at the annual shareholders meeting on Oct. 17. We increase our forecasts modestly and lift our fair value estimate 5% to NZD 4.00. At current prices,...
- Adrian Atkins
Port of Tauranga Wraps Up Another Good Year; FVE up 5%
Wide-moat Port of Tauranga had another good year, with net profit after tax up 13% to NZD 94 million for fiscal 2018, in line with our expectations and the midpoint of guidance. The outlook remains positive as benefits from the hub port strategy and the recent upgrade drive ongoing growth in market share. Fiscal 2019 earnings guidance will be given at the annual shareholders meeting on Oct. 17. We increase our forecasts modestly and lift our fair value estimate 5% to NZD 4.00. At current prices,...
- Adrian Atkins
Port of Tauranga's strong competitive position does not justify its lo...
Thanks to its cost advantages and efficient scale in servicing the North Island of New Zealand, Port of Tauranga enjoys a wide economic moat. Port of Tauranga is a high-quality company, but at current prices of NZD 5.12, shares trade at a significant premium to our unchanged NZD 3.80 fair value estimate. While the firm is in a favourable position with a virtuous outlook, the prevailing share price has baked in too much growth, in our view. The competitive advantages in New Zealand's largest port...
- Adrian Atkins
Port of Tauranga is a High-Quality Company... But Wait for a Better Pr...
Thanks to its cost advantages and efficient scale in servicing the North Island of New Zealand, Port of Tauranga enjoys a wide economic moat. Port of Tauranga is a high-quality company, but at current prices of NZD 5.12, shares trade at a significant premium to our unchanged NZD 3.80 fair value estimate. While the firm is in a favourable position with a virtuous outlook, the prevailing share price has baked in too much growth, in our view. The competitive advantages in New Zealand's largest port...
- Adrian Atkins
Port of Tauranga Lifts Guidance Following Strong 1H; FVE Increased to ...
Wide-moat Port of Tauranga's first-half fiscal 2018 revenue and net profit rose 13% to NZD 141 million and NZD 47 million, respectively. Imports increased 21% and exports grew 9%, resulting in total trade increasing 13% to 12.5 million tonnes. Following the good result, guidance was lifted 4% to NZD 92 to 96 million. We increase our fiscal 2018 forecast marginally to NZD 94 million, representing growth of 13% from fiscal 2017. We assume good momentum to continue and lift medium-term earnings for...
- Adrian Atkins
Strong Start to the New Fiscal Year for Port of Tauranga; No Change to...
Wide-moat Port of Tauranga has started the new financial year strongly. Guidance provided at the annual shareholder meeting is for net profit after tax of NZD 88 million-NZD 92 million, up from NZD 83 million last year. Guidance is in line with our existing forecast of NZD 91 million, which we leave unchanged. We also maintain our NZD 3.60 fair value estimate. Port of Tauranga is a high-quality business with a good long-term outlook. As New Zealand's largest and most productive port, it should c...
- Adrian Atkins
Solid Growth in FY17 for Port of Tauranga with More to Come
Wide-moat Port of Tauranga's upgrade is paying dividends, with the arrival of larger vessels from September 2016 helping cargo import volumes increase 14% and exports increase 8%. The port reported a solid 8% increase in fiscal 2017 NPAT to NZD 83.4 million, in line with expectations, on 4% growth in revenue to NZD 256 million. EPS was NZD 12.3 cents per share. Management expects continued growth in cargo volumes and earnings, and will provide fiscal 2018 earnings guidance at the annual sharehol...
- Adrian Atkins
Port of Tauranga's strong competitive position does not justify its lo...
It doesn’t overly surprise that the share price of wide-moat Port of Tauranga has been so well supported in recent years given this is a high-quality company with a favourable outlook. But we can't accept its expensive metrics and recommend waiting for a better entry point, which could happen if growth doesn’t come as quickly as many hope. At the current price of NZD 4.47, the firm trades 24% above our unchanged NZD 3.60 fair value estimate, on a nose-bleed P/E ratio of 36 times and offeri...
- Adrian Atkins
Great Company but Too Expensive; Wait for Better Opportunity in Port o...
It doesn’t overly surprise that the share price of wide-moat Port of Tauranga has been so well supported in recent years given this is a high-quality company with a favourable outlook. But we can't accept its expensive metrics and recommend waiting for a better entry point, which could happen if growth doesn’t come as quickly as many hope. At the current price of NZD 4.47, the firm trades 24% above our unchanged NZD 3.60 fair value estimate, on a nose-bleed P/E ratio of 36 times and offeri...
- Adrian Atkins
Port of Tauranga Delivers Strong Interim Result, FVE Increased to NZD ...
Wide moat-rated Port of Tauranga reported a good interim result with underlying NPAT increasing 9% to NZD 41.9 million. The impressive result reflects strong growth in cargo volumes and improved port productivity. The interim dividend of NZD 5 cents per share represents an 81% payout ratio and a 9% increase on the prior period. Full-year guidance for underlying NPAT was confirmed to be at the upper end of the guidance range of NZD 79-83 million. We increase our long-term earnings forecasts and...
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