A director at Hexagon AB bought 13,000 shares at 91.790SEK and the significance rating of the trade was 60/100. 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 years clearly sh...
We expect still-strong organic volume momentum in Q3 in most of Hexagon’s end-markets that, together with a richer product mix, leaves us 5% above Infront consensus on Q3e adj. EBIT. We also believe Hexagon is poised to present ambitious new medium-term targets at its CMD on 30 September, but that the bar is already high. We reiterate our HOLD but have raised our target price to SEK150 (145) after edging up our 2022e EBIT by 2%, to which we apply an EV/EBIT of 30x.
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....
Hexagon looks well positioned for structural growth trends in improving end-markets, and we see clear industrial logic for its acquisition of Infor EAM. We have raised our 2022e sales, adj. EBIT and adj. EPS by ~6%, ~7%, and ~1%, respectively, to reflect the broad-based Q2 beat and Infor EAM. We still believe the bar is set high, with a 2022e EV/EBIT of 27x, which leaves us in neutral territory. Hence, we reiterate our HOLD but have lifted our target price to SEK145 (122).
Our forecasts are broadly unchanged ahead of Hexagon’s Q2 results (due on 17 July) as we believe the strong demand recovery should continue through 2021, although easy China YOY comparables no longer provide a tailwind. As consensus has risen, we are only 1–3% above Infront consensus on 2021–2022e EBIT. With the bar set high, we believe it will become more difficult for Hexagon to come up with enough positive surprises to trigger a further re-rating, and believe the valuation already reflects th...
We are encouraged by Hexagon’s 7% beat on adj. EBIT to Infront Consensus in Q1, and remain ~4–5% above consensus on 2021–2022e EBIT. With the bar set high, we believe it will get harder for Hexagon to come up with enough positive surprises to trigger a further re-rating, and believe the valuation already reflects the recovery taking shape. We have therefore downgraded Hexagon to HOLD (BUY), but raised our target price to SEK850 (840) based on 25x 2022e EBIT.
Sector profitability is set to be strong in 2021 but mounting supply chain constraints are an increasing concern. We favour US exposure (Assa Abloy, Hexpol, Dometic), mining equipment (Epiroc, Metso Outotec) and construction. We recently upgraded Alfa Laval and Hexpol (from HOLD to BUY) and downgraded Volvo and ABB (from BUY to HOLD).
Strong operational performance and quarterly beats in 2020 have lifted Infront consensus. We expect Q1 organic sales growth of 7.6% (consensus: 6.8%) and are 1% below consensus on Q1 EBIT but remain 4–5% above on 2021–2022e EBIT. Thus, we reiterate our BUY and have raised our target price to SEK840 (830).
The independent financial analyst theScreener just requalified the general evaluation of HEXAGON AB (SE), active in the Software industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date March 5, 2021, the closing price...
We believe Hexagon is well-placed in 2021 as: 1) it is positioned to outgrow a cyclical recovery; 2) its software mix is set to drive predictable incremental EBIT margins to 27–28% in 2021–2022e; 3) it has a EUR3bn ‘bankroll’ for potential M&A; 4) we see it as a potential beneficiary of the EU Taxonomy; and 5) it should provide new ambitious five-year targets later in 2021. We reiterate our BUY and SEK830 target price.
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