After Powell’s Jackson Hole speech on 23 August, we see a turning point starting with a US Fed rate cut in Sep 24 and lower rates heading into 2025. In the Singapore market, REITs and the property sector should benefit, as should highly-geared companies and those looking to recycle capital. Our current forecasts have incorporated lower NIMs for banks which we believe are protected by their high dividend yields.
A director at AES Corp sold 15,000 shares at 20.350USD and the significance rating of the trade was 53/100. 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 showin...
Moody's Investors Service ("Moody's") assigned a Prime-3 (P-3) short-term rating to The AES Corporation's (AES; Baa3 stable) new $750 million commercial paper (CP) program. The rating outlook of AES is stable. The commercial paper program will be back-stopped by AES' existing $1.5 billion revolving...
Moody's Investors Service ("Moody's") upgraded the senior unsecured rating of The AES Corporation (AES) to Baa3 from Ba1. At the same time, Moody's withdrew AES' Ba1 corporate family rating (CFR), Ba1-PD probability of default rating and SGL-2 Speculative Grade Liquidity rating. This action conclude...
LPL Financial (LPLA) has created a powerful platform to empower independent and smaller scale wealth advisors to compete with the big players like Merrill Lynch and Morgan Stanley. Uniform Accounting highlights the company's operational improvements that the market is missing, indicating equity upside. LPL has reformulated the value proposition of being an independent RIA with its asset-light advisor platform. Uniform ROA has expanded to new peaks above 20%, which is sustainable going forwa...
Hillenbrand (HI) has pivoted successfully to roll-up the industrial machinery industry in the past decade, giving the business greater growth potential and opportunities for asset efficiency. Uniform Accounting highlights these efficiency improvements that the market is missing, indicating equity upside. Over the last decade, Hillenbrand has expanded its business from a casket business into the industrial machinery industry, causing Uniform ROA to improve to stable 25%-28% levels. It has acqu...
The AES Corporation (AES:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 34.1x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about supply chain issues, the sustainability of demand, and the execution of transformational modernization programs. Specifically, management may lack confidence in their ability to execute their grid modernization, utility modernization, and de...
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 market is currently much more pessimistic about COF than about any of the company's peers. The market sees a lender to high-risk sub-prime borrowers just emerging from the pandemic and is pricing it like it is going to see a second wave of problems that just doesn't look set to come. While the market is pricing Capital One like its Uniform ROE will perpetually sit near 2017 and 2020 trough levels, the company's superior underwriting and reduced competition as competitors seek to exit it...
The AES Corporation (AES:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 27.2x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about power purchase agreement momentum, their positioning within the renewables market, and 5B innovation Specifically, management may lack confidence in their ability to continue to obtain signed contracts for renewables, utilize the remaining c...
The general evaluation of AES (US), a company active in the Conventional Electricity 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 April 6, 2021, the closing price was USD ...
Rating Action: Moody's affirms AES Corporation's Ba1 CFR; assigns Ba1 to new unsecured notes; downgrades previously secured notes to Ba1; stable outlook. Global Credit Research- 19 Nov 2020. New York, November 19, 2020-- Moody's Investors Service affirmed the Ba1 corporate family rating and Ba1-PD probability of default rating of The AES Corporation and assigned a Ba1 rating to the new senior unsecured notes.
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