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....
VOCUS GROUP (AU), a company active in the Integrated Telecommunications industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 2 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date March 23, 2021, the closing...
Summary Marketline's Arunta Resources Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Arunta Resources Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of...
A director at Vocus Group Limited maiden bought 200,000 shares at 2.972AUD and the significance rating of the trade was 87/100. 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 ...
We restore our fair value estimate for Vocus to our previous AUD 3.00 per share on a stand-alone basis, prior to the recent takeover hysteria. The shock of a fourth bidder for the group withdrawing its interest will linger for some time. Indeed, it is unlikely Vocus' stock price premium to our stand-alone intrinsic assessment will ever reclaim even the 30%-heights before the recent Indicative Proposals were unveiled. To begin with, Vocus' data room has lived up to the Kinder Surprise "fun house...
We restore our fair value estimate for Vocus to our previous AUD 3.00 per share on a stand-alone basis, prior to the recent takeover hysteria. The shock of a fourth bidder for the group withdrawing its interest will linger for some time. Indeed, it is unlikely Vocus' stock price premium to our stand-alone intrinsic assessment will ever reclaim even the 30%-heights before the recent Indicative Proposals were unveiled. To begin with, Vocus' data room has lived up to the Kinder Surprise "fun house...
We restore our fair value estimate for Vocus to our previous AUD 3.00 per share on a stand-alone basis, prior to the recent takeover hysteria. The shock of a fourth bidder for the group withdrawing its interest will linger for some time. Indeed, it is unlikely Vocus' stock price premium to our stand-alone intrinsic assessment will ever reclaim even the 30%-heights before the recent Indicative Proposals were unveiled. To begin with, Vocus' data room has lived up to the Kinder Surprise "fun house"...
We lift our fair value estimate on Vocus by 32% to AUD 3.95 per share. This has been derived by assigning a 50% probability to AGL Energy's AUD 4.85 per share indicative proposal succeeding, 50% probability that it does not, and Vocus' stock price reverting to our AUD 3.00 stand-alone intrinsic assessment. We admit this change is likely to be met with apathy. After all, we are only recently guilty of performing a fair value flip-flop in response to EQT Infrastructure's quick AUD 5.25 per share ...
Vocus is an infrastructure-rich telecommunications group focused on corporate and government customers with an extensive fibre and data centre network built organically and through numerous acquisitions over the years. M2, on the other hand, is an infrastructure-lite but salesforce-heavy consumer-focused telecom entity. Its stellar growth has also been driven by many acquisitions. The February 2016 merger between these companies transformed the enlarged Vocus into a full-service, vertically inte...
We lift our fair value estimate on Vocus by 32% to AUD 3.95 per share. This has been derived by assigning a 50% probability to AGL Energy's AUD 4.85 per share indicative proposal succeeding, 50% probability that it does not, and Vocus' stock price reverting to our AUD 3.00 stand-alone intrinsic assessment. We admit this change is likely to be met with apathy. After all, we are only recently guilty of performing a fair value flip-flop in response to EQT Infrastructure's quick AUD 5.25 per share "...
We restore our fair value estimate for Vocus to its prior stand-alone intrinsic assessment of AUD 3.00 per share. This follows EQT Infrastructure's decision to withdraw its AUD 5.25 per share Indicative Proposal, one that was announced just last week while this author was on leave, in the middle of a shocking 8th hole of an even more shocking round of golf. The development is disconcerting. This is the third time a private equity suitor has snubbed the narrow-moat-rated group, after Kohlberg Kra...
We restore our fair value estimate for Vocus to its prior stand-alone intrinsic assessment of AUD 3.00 per share. This follows EQT Infrastructure's decision to withdraw its AUD 5.25 per share Indicative Proposal, one that was announced just last week while this author was on leave, in the middle of a shocking 8th hole of an even more shocking round of golf. The development is disconcerting. This is the third time a private equity suitor has snubbed the narrow-moat-rated group, after Kohlberg Kr...
We restore our fair value estimate for Vocus to its prior stand-alone intrinsic assessment of AUD 3.00 per share. This follows EQT Infrastructure's decision to withdraw its AUD 5.25 per share Indicative Proposal, one that was announced just last week while this author was on leave, in the middle of a shocking 8th hole of an even more shocking round of golf. The development is disconcerting. This is the third time a private equity suitor has snubbed the narrow-moat-rated group, after Kohlberg Kr...
We restore our fair value estimate for Vocus to its prior stand-alone intrinsic assessment of AUD 3.00 per share. This follows EQT Infrastructure's decision to withdraw its AUD 5.25 per share Indicative Proposal, one that was announced just last week while this author was on leave, in the middle of a shocking 8th hole of an even more shocking round of golf. The development is disconcerting. This is the third time a private equity suitor has snubbed the narrow-moat-rated group, after Kohlberg Kra...
Vocus' extensive fibre infrastructure, which underpins its narrow economic moat, appears to have caught the eye of Swedish private equity group, EQT Infrastructure. EQT has made an indicative proposal to acquire Vocus for AUD 5.25 per share--a significant 35% premium to the last closing price of AUD 3.89, and a lofty 75% premium to our previous fair value estimate. We assign a 75% probability of the deal going through, and raise our fair value estimate to the probability-weighted average price o...
Vocus is an infrastructure-rich telecommunications group focused on corporate and government customers with an extensive fibre and data centre network built organically and through numerous acquisitions over the years. M2, on the other hand, is an infrastructure-lite but salesforce-heavy consumer-focused telecom entity; its stellar growth has also been driven by many acquisitions. The February 2016 merger between these companies transformed the enlarged Vocus into a full-service, vertically inte...
Vocus' extensive fibre infrastructure, which underpins its narrow economic moat, appears to have caught the eye of Swedish private equity group, EQT Infrastructure. EQT has made an indicative proposal to acquire Vocus for AUD 5.25 per share--a significant 35% premium to the last closing price of AUD 3.89, and a lofty 75% premium to our previous fair value estimate. We assign a 75% probability of the deal going through, and raise our fair value estimate to the probability-weighted average price o...
The 7% fall in Vocus' fiscal 2019 first-half underlying EBITDA to AUD 176 million was a reality check on the transformation progress under the revamped management team. While building blocks are being put in place (strategic focus, culture, cost discipline), there is no denying the tough market dynamics. The core network services unit saw just a 3% lift in EBITDA to AUD 167 million, a slowdown from the 15% achieved in fiscal 2018. The combined Australian consumer and business EBITDA fell 17% to ...
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