A director at Orora Ltd bought 50,000 shares at 1.722AUD and the significance rating of the trade was 51/100. 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 show...
ORORA (AU), a company active in the Containers & Packaging industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date March 4, 2022, the closing price was AUD 3.58 and its potential 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....
Year-to-date Australian beverage market volumes have been stronger than we’d anticipated. While this provides support to no-moat Orora’s second-half fiscal 2019 earnings, the stronger observed market volumes have a largely immaterial earnings impact given beverages constitute only roughly one quarter of the Australasia segment’s revenues. We maintain our full-year fiscal 2019 EBIT forecast of AUD 360 million. Our long-term expectations for beverage volumes also remain unchanged. We continu...
Year-to-date Australian beverage market volumes have been stronger than we’d anticipated. While this provides support to no-moat Orora’s second-half fiscal 2019 earnings, the stronger observed market volumes have a largely immaterial earnings impact given beverages constitute only roughly one quarter of the Australasia segment’s revenues. We maintain our full-year fiscal 2019 EBIT forecast of AUD 360 million. Our long-term expectations for beverage volumes also remain unchanged. We continu...
Organic growth stalled in no-moat Orora’s North American businesses in first-half fiscal 2019. Tough U.S. trading conditions cited by management are concerning and contrast starkly with generally supportive macroeconomic conditions and still rising U.S. corporate profits. However, Orora’s Australasian segment delivered a good result off volume and margin gains. While we’ve trimmed our full-year expectations for North America, our full-year fiscal 2019 EBIT forecast is largely unchanged at ...
Orora has materially improved margins and profitability in recent years with efficiencies found in corrugated board conversion via plant rationalisation and targeted capital expenditure to modernise remaining conversion capacity. But Orora’s shares are expensive, trading at 17.3 times diluted fiscal 2019 EPS, particularly given the structural headwinds facing the Australasian segment with low volume growth in corrugated box--forecast at 1.2% annually over the coming decade--and flat to negativ...
Organic growth stalled in no-moat Orora’s North American businesses in first-half fiscal 2019. Tough U.S. trading conditions cited by management are concerning and contrast starkly with generally supportive macroeconomic conditions and still rising U.S. corporate profits. However, Orora’s Australasian segment delivered a good result off volume and margin gains. While we’ve trimmed our full-year expectations for North America, our full-year fiscal 2019 EBIT forecast is largely unchanged at ...
No-moat Orora has acquired Pollock, a Texas based packaging and facility supplies business for USD 80.5 million. After factoring in deal synergies, the deal looks respectable at roughly 7 times our fiscal 2019 EBITDA forecast for Pollock. We see the deal as shareholder accretive, provided stated synergies can be realised, with the deal adding AUD 0.05-AUD 0.10 per share of value, depending on the extent to which the USD 6 million in stated revenue and cost synergies can be realised by Orora. We ...
No-moat Orora has acquired Pollock, a Texas based packaging and facility supplies business for USD 80.5 million. After factoring in deal synergies, the deal looks respectable at roughly 7 times our fiscal 2019 EBITDA forecast for Pollock. We see the deal as shareholder accretive, provided stated synergies can be realised, with the deal adding AUD 0.05-AUD 0.10 per share of value, depending on the extent to which the USD 6 million in stated revenue and cost synergies can be realised by Orora. We ...
No-moat Orora has acquired Pollock, a Texas based packaging and facility supplies business for USD 80.5 million. After factoring in deal synergies, the deal looks respectable at roughly 7 times our fiscal 2019 EBITDA forecast for Pollock. We see the deal as shareholder accretive, provided stated synergies can be realised, with the deal adding AUD 0.05-AUD 0.10 per share of value, depending on the extent to which the USD 6 million in stated revenue and cost synergies can be realised by Orora. We ...
No-moat Orora has acquired Pollock, a Texas based packaging and facility supplies business for USD 80.5 million. After factoring in deal synergies, the deal looks respectable at roughly 7 times our fiscal 2019 EBITDA forecast for Pollock. We see the deal as shareholder accretive, provided stated synergies can be realised, with the deal adding AUD 0.05-AUD 0.10 per share of value, depending on the extent to which the USD 6 million in stated revenue and cost synergies can be realised by Orora. We ...
With mature and in some cases declining packaging categories in its Australasia segment, the market sees big things for no-moat Orora in its North American distribution business, given its current share price. While acquisitions will be a focus for the company in the U.S. to achieve greater scale in distribution, we question whether this can be done in a value-accretive manner. Following a change in analyst, we decrease our fair value estimate by 13% to AUD 2.40 per share. With Orora trading at ...
Orora has materially improved margins and profitability in recent years with efficiencies found in corrugated board conversion via plant rationalisation and targeted capital expenditure to modernise remaining conversion capacity. But Orora’s shares are expensive, trading at 17.5 times diluted fiscal 2019 EPS, particularly given the structural headwinds facing the Australasian segment with low volume growth in corrugated box--forecast at 1.2% annually over the coming decade--and flat to negativ...
With mature and in some cases declining packaging categories in its Australasia segment, the market sees big things for no-moat Orora in its North American distribution business, given its current share price. While acquisitions will be a focus for the company in the U.S. to achieve greater scale in distribution, we question whether this can be done in a value-accretive manner. Following a change in analyst, we decrease our fair value estimate by 13% to AUD 2.40 per share. With Orora trading at ...
No-moat Orora reported a solid fiscal 2018 result with revenue growing at 5.2% to AUD 4.24 billion, ahead of our expectations of 3.4%. Improved EBIT margins of 7.6% saw operating income grow ahead of revenue, up 7.0% to AUD 323 million from a year earlier. Nonetheless, our long-term expectations are largely unchanged following the result. We’ve adjusted our forecast to reflect forward expectations for a lower USD/AUD exchange rate, which leads to a 6% increase in our fair value estimate to AUD...
No-moat Orora reported a solid fiscal 2018 result with revenue growing at 5.2% to AUD 4.24 billion, ahead of our expectations of 3.4%. Improved EBIT margins of 7.6% saw operating income grow ahead of revenue, up 7.0% to AUD 323 million from a year earlier. Nonetheless, our long-term expectations are largely unchanged following the result. We’ve adjusted our forecast to reflect forward expectations for a lower USD/AUD exchange rate, which leads to a 6% increase in our fair value estimate to AUD...
Following the demerger from Amcor, Orora has built on its strong number-two positions in fibre and beverage packaging materials in Australia. Restructuring efforts and selective capital investments in new projects have improved Orora’s competitive position and increased profit margins. Nevertheless, returns on invested capital remain capped by strong competition and the bargaining power of large multinational food and beverage customers. With domestic consumption improving and Australian wine ...
No-moat Orora reported a solid fiscal 2018 result with revenue growing at 5.2% to AUD 4.24 billion, ahead of our expectations of 3.4%. Improved EBIT margins of 7.6% saw operating income grow ahead of revenue, up 7.0% to AUD 323 million from a year earlier. Nonetheless, our long-term expectations are largely unchanged following the result. We’ve adjusted our forecast to reflect forward expectations for a lower USD/AUD exchange rate, which leads to a 6% increase in our fair value estimate to AUD...
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