LINK ADMINISTRATION (AU), a company active in the Financial Administration industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 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 November 19, 2021, the closing price was AUD 4.94 a...
A director at Link Administration Holdings Limited bought 125,000 shares at 4.450AUD and the significance rating of the trade was 59/100. 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...
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....
The RBA cut interest rates for the first time since August 2016 lifting banks and many domestic cyclical names. Despite the bearish sentiment by analysts, the market posted another strong gain (3.7%) led by Resources, Healthcare and Financials. Global stock markets rallied by 6.6% has markets decided the Fed will provide a safety net for the global slowdown that is unfolding. The strong relative performance of Australia during the May global market correction and the solid performance d...
We don’t expect narrow-moat-rated Link Administration to be materially affected by the Woodford Investment Management affair in the United Kingdom, and we maintain our earnings forecasts and fair value estimate at AUD 8.90 per share. At its current price of AUD 5.35, we continue to believe Link is materially undervalued. WIM is a client of Link Fund Solutions, a U.K. business that was acquired by Link in mid-2017 and contributes around 8% of group revenue and profits. The media have reported ...
We don’t expect narrow-moat-rated Link Administration to be materially affected by the Woodford Investment Management affair in the United Kingdom, and we maintain our earnings forecasts and fair value estimate at AUD 8.90 per share. At its current price of AUD 5.35, we continue to believe Link is materially undervalued. WIM is a client of Link Fund Solutions, a U.K. business that was acquired by Link in mid-2017 and contributes around 8% of group revenue and profits. The media have reported t...
We don’t expect narrow-moat Link Administration to be materially affected by the Woodford Investment Management, or WIM, issues in the United Kingdom and we maintain our earnings forecasts and fair value estimate at AUD 8.90 per share. At the current price of AUD 5.35, we continue to believe Link is materially undervalued. WIM is a client of Link’s U.K. Fund Solutions business, or LFS, which was acquired by Link in mid-2017 and comprises about 8% of group revenue and profits. The media has ...
We don’t expect narrow-moat Link Administration to be materially affected by the Woodford Investment Management, or WIM, issues in the United Kingdom and we maintain our earnings forecasts and fair value estimate at AUD 8.90 per share. At the current price of AUD 5.35, we continue to believe Link is materially undervalued. WIM is a client of Link’s U.K. Fund Solutions business, or LFS, which was acquired by Link in mid-2017 and comprises about 8% of group revenue and profits. The media has ...
We don’t expect narrow-moat Link Administration to be materially affected by the Woodford Investment Management, or WIM, issues in the United Kingdom and we maintain our earnings forecasts and fair value estimate at AUD 8.90 per share. At the current price of AUD 5.35, we continue to believe Link is materially undervalued. WIM is a client of Link’s U.K. Fund Solutions business, or LFS, which was acquired by Link in mid-2017 and comprises about 8% of group revenue and profits. The media has r...
Narrow-moat Link Administration’s annual investor day largely recapped known information, albeit with an update about the United Kingdom business. The most notable news was that the AustralianSuper contract has been renewed for another four years. AustralianSuper is the largest superannuation fund in Australia and Link’s largest client, which we estimate comprises about 10% of group revenue. Link still faces the risk that other large superannuation fund clients will not renew contracts, with...
Narrow-moat Link Administration’s annual investor day largely recapped known information, albeit with an update about the United Kingdom business. The most notable news was that the AustralianSuper contract has been renewed for another four years. AustralianSuper is the largest superannuation fund in Australia and Link’s largest client, which we estimate comprises about 10% of group revenue. Link still faces the risk that other large superannuation fund clients will not renew contracts, with...
Narrow-moat Link Administration’s annual investor day largely recapped known information, albeit with an update about the United Kingdom business. The most notable news was that the AustralianSuper contract has been renewed for another four years. AustralianSuper is the largest superannuation fund in Australia and Link’s largest client, which we estimate comprises about 10% of group revenue. Link still faces the risk that other large superannuation fund clients will not renew contracts, with...
We’re not surprised the share price of narrow-moat-rated Link Administration plunged by 23% following its trading update but we don’t think the announcement justified the reaction by any means. It is not unusual for the market to panic at the sight of an ominous "trading update" and ask questions later, and we think this reaction was irrational. Management hadn’t previously provided earnings guidance but said fiscal 2019 underlying NPAT, excluding amortisation of acquired intangible asset...
We’re not surprised the share price of narrow-moat-rated Link Administration plunged by 23% following its trading update but we don’t think the announcement justified the reaction by any means. It is not unusual for the market to panic at the sight of an ominous "trading update" and ask questions later, and we think this reaction was irrational. Management hadn’t previously provided earnings guidance but said fiscal 2019 underlying NPAT, excluding amortisation of acquired intangible asset...
We expect Link's narrow economic moat to protect its reasonably large market shares in the Australian and U.K. financial services administration markets, underpinned by customer switching costs, a marginal cost advantage, and contractual terms of three to five years. The acquisition of U.K.-based Capita Asset Services, or CAS, in 2017 reduced the proportion of revenue from Link's Australian businesses to around 60% of group revenue. We expect the key earnings driver for both the U.K. and Austral...
We’re not surprised the share price of narrow-moat-rated Link Administration plunged by 23% following its trading update but we don’t think the announcement justified the reaction by any means. It is not unusual for the market to panic at the sight of an ominous "trading update" and ask questions later, and we think this reaction was irrational. Management hadn’t previously provided earnings guidance but said fiscal 2019 underlying NPAT, excluding amortisation of acquired intangible assets...
The Australian retirement, or superannuation, sector is undergoing significant change which has created uncertainty for narrow-moat-rated Link Group and partly explains the share price discount to our AUD 8.90 fair value estimate. However, we think the market is too focused on the expected account losses in fiscal 2020, due to new legislation, and that the long-term benefits for Link are being ignored. Importantly, Link provides administration services to not-for-profit Industry funds which we e...
The Australian retirement, or superannuation, sector is undergoing significant change which has created uncertainty for narrow-moat-rated Link Group and partly explains the share price discount to our AUD 8.90 fair value estimate. However, we think the market is too focused on the expected account losses in fiscal 2020, due to new legislation, and that the long-term benefits for Link are being ignored. Importantly, Link provides administration services to not-for-profit Industry funds which we ...
The Australian retirement, or superannuation, sector is undergoing significant change which has created uncertainty for narrow-moat-rated Link Group and partly explains the share price discount to our AUD 8.90 fair value estimate. However, we think the market is too focused on the expected account losses in fiscal 2020, due to new legislation, and that the long-term benefits for Link are being ignored. Importantly, Link provides administration services to not-for-profit Industry funds which we ...
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