A director at ALS Limited bought 3,250 shares at 12.310AUD and the significance rating of the trade was 52/100. 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...
The general evaluation of ALS (AU), a company active in the Business Support Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date December 21, 2021, the closing price was...
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....
Adjusted fiscal 2019 NPAT increased by 29% to AUD 161 million, below our AUD 177 million forecast. Despite this, we increase our fair value estimate for no-moat ALS Limited by 17% to AUD 4.50, in consideration of a stronger near-term commodity price outlook and time value of money. Higher commodity prices can be expected to be accompanied by attendant positives for servicing of mining companies, in particular benefiting ALS’ Commodities segment via geochemistry sample flows. Our fair value es...
ALS is one of the world's largest and most profitable testing companies. Its strong brand, skilled and experienced staff, scalability across markets, and strong relationships with large clients are key competitive advantages. We expect consolidation to further strengthen this position, leveraging brand and knowledge across various testing and inspection markets. However capital outlays in establishing a global network of operations and laboratories during the resources boom mean ALS is barely ea...
Adjusted fiscal 2019 NPAT increased by 29% to AUD 161 million, below our AUD 177 million forecast. Despite this, we increase our fair value estimate for no-moat ALS Limited by 17% to AUD 4.50, in consideration of a stronger near-term commodity price outlook and time value of money. Higher commodity prices can be expected to be accompanied by attendant positives for servicing of mining companies, in particular benefiting ALS’ Commodities segment via geochemistry sample flows. Our fair value est...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. At AUD 7.60, ALS Limited shares have pulled-back only marginally from February AUD 8.20 highs and remain at almost double our fair value estimate. The share price translates to a P/E of 21 based on our fiscal 2019 earnings forecast, too high given our longer-term outlook. Our fair value estimate equates to an unchanged fiscal 2023 EV/EBITDA of 7.3, P/E of 12.8, and dividend yield of 4.7%, all discounted at W...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. At AUD 7.60, ALS Limited shares have pulled-back only marginally from February AUD 8.20 highs and remain at almost double our fair value estimate. The share price translates to a P/E of 21 based on our fiscal 2019 earnings forecast, too high given our longer-term outlook. Our fair value estimate equates to an unchanged fiscal 2023 EV/EBITDA of 7.3, P/E of 12.8, and dividend yield of 4.7%, all discounted at W...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. At AUD 7.60, ALS Limited shares have pulled-back only marginally from February AUD 8.20 highs and remain at almost double our fair value estimate. The share price translates to a P/E of 21 based on our fiscal 2019 earnings forecast, too high given our longer-term outlook. Our fair value estimate equates to an unchanged fiscal 2023 EV/EBITDA of 7.3, P/E of 12.8, and dividend yield of 4.7%, all discounted at W...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. At AUD 7.60, ALS Limited shares have pulled-back only marginally from February AUD 8.20 highs and remain at almost double our fair value estimate. The share price translates to a P/E of 21 based on our fiscal 2019 earnings forecast, too high given our longer-term outlook. Our fair value estimate equates to an unchanged fiscal 2023 EV/EBITDA of 7.3, P/E of 12.8, and dividend yield of 4.7%, all discounted at W...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. The materials testing company reported a 29% increase in underlying first-half fiscal 2019 net profit to AUD 90.3 million, at the high end of AUD 85-90 million guidance, and ahead of our low-end AUD 85.2 million forecast. However, the key driver of profit beating our mark was lower-than-anticipated depreciation, a poorer quality noncash driver. Net operating cash flow underwhelmed at AUD 87.6 million, down a...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. The materials testing company reported a 29% increase in underlying first-half fiscal 2019 net profit to AUD 90.3 million, at the high end of AUD 85-90 million guidance, and ahead of our low-end AUD 85.2 million forecast. However, the key driver of profit beating our mark was lower-than-anticipated depreciation, a poorer quality noncash driver. Net operating cash flow underwhelmed at AUD 87.6 million, down a...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. That is despite the company guiding for slightly higher than expected first-half fiscal 2019 underlying net profit after tax, or NPAT. There is little to indicate our longer-term assumptions warrant meaningful change. We increase our first-half NPAT forecast by 2% to AUD 85 million from AUD 83 million, to the low end of the AUD 85-90 million guidance range. Our full-year fiscal 2019 EPS forecasts increases b...
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. That is despite the company guiding for slightly higher than expected first-half fiscal 2019 underlying net profit after tax, or NPAT. There is little to indicate our longer-term assumptions warrant meaningful change. We increase our first-half NPAT forecast by 2% to AUD 85 million from AUD 83 million, to the low end of the AUD 85-90 million guidance range. Our full-year fiscal 2019 EPS forecasts increases b...
Our fair value estimate for no-moat ALS increases by 10% to AUD 3.85 per share from AUD 3.50, despite adjusted fiscal 2018 net profit after tax, or NPAT, of AUD 125 million falling short of our AUD 142 million target. The upgrade primarily reflects the time value of money, along with approximately a 30% decrease in our forecast for corporate costs and a weaker 0.75 AUD/USD exchange rate. Corporate costs fell by 15% to AUD 25 million in fiscal 2018; we expect these cost-outs to be sustainable. Th...
We make no change to no-moat materials tester ALS Limited’s AUD 3.50 fair value estimate, nor to our AUD 142 million or AUD 0.28 per share fiscal 2018 earnings forecast. Our forecast sits at the midpoint of the most recent AUD 135 to 145 million company guidance and is 73% improved on fiscal 2017, reflecting recent life sciences acquisitions and ongoing improvement from the minerals segment. First-half fiscal 2018 food & pharma revenue grew 64% due to the Marshfield (U.S.) and Alcontrol (U.K.....
We make no change to no-moat materials tester ALS Limited’s AUD 3.50 fair value estimate, nor to our AUD 142 million or AUD 0.28 per share fiscal 2018 earnings forecast. Our forecast sits at the midpoint of the most recent AUD 135 to 145 million company guidance and is 73% improved on fiscal 2017, reflecting recent life sciences acquisitions and ongoing improvement from the minerals segment. First-half fiscal 2018 food & pharma revenue grew 64% due to the Marshfield (U.S.) and Alcontrol (U.K.....
Summary ALS Limited (ALS), formerly, Campbell Brothers Limited is a diversified testing service provider. The company provides testing services in the areas of minerals, life sciences, energy and industrial. It provides chemical and laboratory services, technical testing and inspection services supporting mining and mineral exploration, commodity certification, environmental monitoring, equipment maintenance, food and pharmaceutical quality assurance and industrial operations. The company serve...
We make no change to no-moat materials tester ALS Limited’s AUD 3.50 fair value estimate. Minor downgrades to some long-term assumptions are offset by time-value-of-money considerations. Underlying first-half fiscal 2018 NPAT rose 38% to AUD 70.1 million, marginally beating our AUD 65.8 million target, though on lower depreciation. Group EBITDA margin in line with the previous corresponding period’s, or pcp's, 19% was worse than expected with Life Sciences again disappointing. Full-year fisc...
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