A director at Flight Centre Travel Group Ltd bought 356,264 shares at 14.036AUD and the significance rating of the trade was 67/100. 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...
FLIGHT CENTRE TRAVEL GP. (AU), a company active in the Recreational Services 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 April 5, 2022, the closing price was AUD 19.74 an...
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....
Small-Caps & Reopening Stocks Remain In Focus Major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) continue to hold above critical support levels and market dynamics remain largely positive. Until this changes, we believe global equities are headed higher in the coming weeks and months. Additionally, we are reiterating our overweight recommendations on small-caps and value as we believe outperformance from these areas is likely to continue. · Risks To Our Positive Outlook. As we ...
Global equities fell by 0.6% after a strong start of the month was scuttled by the emergence of the Coronavirus. Healthcare (12%), IT (11%), Communication Services (9%) and Consumer Staples (8%) saw strong returns. The biggest hurdle for investors in Australia remains valuation. Analysts seem relatively comfortable with full-year EPS estimates after the downgrade cycle, with earnings certainty is back to around normal levels for the ASX200 universe. The Q4 19 inflation data was broadly in ...
Squarely in the neutral camp At this point in time the major global indexes (MSCI ACWI, ACWI ex-US, EAFE, EM) have failed to break above their respective resistance levels, leaving us squarely in the neutral camp. • We need to see more from cyclical value. We believe the aforementioned major global indexes are likely to remain below resistance or have limited upside unless and until we see more definitive signs of bottoming within cyclical value areas of the market (e.g., Materials, Energy, ...
Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral o...
Flight Centre's Australia and New Zealand, or ANZ, unit was on course to record its third consecutive period of material earnings decline in the second half of fiscal 2019. However, the severity has caught even us by surprise, resulting in the revised fiscal 2019 group underlying profit before tax guidance of AUD 335 million to AUD 360 million. This is 14% below the previous projection and implies a year-on-year PBT fall of 10% to 21% in the second half of fiscal 2019. We have accordingly cut o...
Flight Centre's Australia and New Zealand, or ANZ, unit was on course to record its third consecutive period of material earnings decline in the second half of fiscal 2019. However, the severity has caught even us by surprise, resulting in the revised fiscal 2019 group underlying profit before tax guidance of AUD 335 million to AUD 360 million. This is 14% below the previous projection and implies a year-on-year PBT fall of 10% to 21% in the second half of fiscal 2019. We have accordingly cut o...
Flight Centre's Australia and New Zealand, or ANZ, unit was on course to record its third consecutive period of material earnings decline in the second half of fiscal 2019. However, the severity has caught even us by surprise, resulting in the revised fiscal 2019 group underlying profit before tax guidance of AUD 335 million to AUD 360 million. This is 14% below the previous projection and implies a year-on-year PBT fall of 10% to 21% in the second half of fiscal 2019. We have accordingly cut o...
We reduce our fair value estimate on Flight Centre by 4% to AUD 36.50 per share. The adjustment reflects the cash leaving the business with the stock trading ex-entitlement to the AUD 1.49 fully franked special DPS from March 22, 2019--a capital management initiative declared on Feb. 21, 2019 which will be paid to shareholders on April 12, 2019. There is no change to our operating earnings forecasts or our fundamental intrinsic assessment of Flight Centre. Shares in the no-moat-rated group rema...
Flight Centre will remain highly profitable for some time, particularly in Australia and New Zealand, where its vast network of retail shops, scale, and brand awareness will continue to drive the group's earnings. However, we are wary of longer-term structural headwinds. In the leisure segment, we see pressure on commissions as consumers become more comfortable with dealing directly with suppliers and pure online agencies, and technology erodes the information imbalance that exists between Fligh...
We reduce our fair value estimate on Flight Centre by 4% to AUD 36.50 per share. The adjustment reflects the cash leaving the business with the stock trading ex-entitlement to the AUD 1.49 fully franked special DPS from March 22, 2019--a capital management initiative declared on Feb. 21, 2019 which will be paid to shareholders on April 12, 2019. There is no change to our operating earnings forecasts or our fundamental intrinsic assessment of Flight Centre. Shares in the no-moat-rated group remai...
Flight Centre's declaration of AUD 1.49 in fully franked special DPS, in addition to the AUD 0.60 ordinary interim DPS, should be commended. It deploys the long-held excess cash (AUD 358 million at the end of December 2018) in a quick way, while releasing franking credits ahead of a potential change in rules. It also cushions the pain for shareholders from a weak fiscal 2019 first-half result, up just 1% in group underlying profit before tax, or PBT, to AUD 140 million. The magnitude of the slum...
Flight Centre's declaration of AUD 1.49 in fully franked special DPS, in addition to the AUD 0.60 ordinary interim DPS, should be commended. It deploys the long-held excess cash (AUD 358 million at the end of December 2018) in a quick way, while releasing franking credits ahead of a potential change in rules. It also cushions the pain for shareholders from a weak fiscal 2019 first-half result, up just 1% in group underlying profit before tax, or PBT, to AUD 140 million. The magnitude of the slu...
Flight Centre will remain highly profitable for some time, particularly in Australia and New Zealand, where its vast network of retail shops, scale, and brand awareness will continue to drive the group's returns. However, we are wary of longer-term structural headwinds.In the leisure segment, we see pressure on commissions as consumers become more comfortable with dealing directly with suppliers and pure online agencies, and technology erodes the information imbalance that exists between Flight ...
Flight Centre's declaration of AUD 1.49 in fully franked special DPS, in addition to the AUD 0.60 ordinary interim DPS, should be commended. It deploys the long-held excess cash (AUD 358 million at the end of December 2018) in a quick way, while releasing franking credits ahead of a potential change in rules. It also cushions the pain for shareholders from a weak fiscal 2019 first-half result, up just 1% in group underlying profit before tax, or PBT, to AUD 140 million. The magnitude of the slum...
Shares in Flight Centre have retraced considerably in recent months, down 35% (dividend-adjusted) since the results release on Aug. 23, 2018 and underperforming the market by 23%. The risk-reward proposition for investors is becoming more balanced at current prices, but the stock is still trading at 12% above our unchanged AUD 38.00 fair value estimate. The risk side of the equation relates to longer-term pressures on no-moat-rated Flight Centre's physical store-based model in Australia and New ...
Shares in Flight Centre have retraced considerably in recent months, down 35% (dividend-adjusted) since the results release on Aug. 23, 2018 and underperforming the market by 23%. The risk-reward proposition for investors is becoming more balanced at current prices, but the stock is still trading at 12% above our unchanged AUD 38.00 fair value estimate. The risk side of the equation relates to longer-term pressures on no-moat-rated Flight Centre's physical store-based model in Australia and New...
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