A director at Downer EDI Limited bought 7,000 shares at 5.535AUD and the significance rating of the trade was 68/100. 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 clea...
Summary Senetas Corp Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Senetas Corp Ltd (Senetas) provides IT security and business performance enhancement products. The company develops and manufactures certified high-assurance encryption hardware, virtualized network en...
The general evaluation of DOWNER EDI (AU), a company active in the Heavy Construction 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 5, 2022, the closing price was AUD...
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....
We increase our fair value estimate for no-moat Downer to AUD 6.00 per share from AUD 5.70 due to the time value of money. Downer maintains fiscal 2019 guidance for a 23.8% increase in NPATA to AUD 352 million. We retain our essentially guidance-equalling underlying fiscal 2019 NPAT forecast of AUD 292 million, equivalent to AUD 0.49 per share or 17% EPS growth on fiscal 2018. This adds back amortisation of acquired intangibles. In our opinion, the current AUD 7.80 share price equates to a too-h...
We increase our fair value estimate for no-moat Downer to AUD 6.00 per share from AUD 5.70 due to the time value of money. Downer maintains fiscal 2019 guidance for a 23.8% increase in NPATA to AUD 352 million. We retain our essentially guidance-equalling underlying fiscal 2019 NPAT forecast of AUD 292 million, equivalent to AUD 0.49 per share or 17% EPS growth on fiscal 2018. This adds back amortisation of acquired intangibles. In our opinion, the current AUD 7.80 share price equates to a too-h...
We increase our fair value estimate for no-moat Downer to AUD 6.00 per share from AUD 5.70 due to the time value of money. Downer maintains fiscal 2019 guidance for a 23.8% increase in NPATA to AUD 352 million. We retain our essentially guidance-equalling underlying fiscal 2019 NPAT forecast of AUD 292 million, equivalent to AUD 0.49 per share or 17% EPS growth on fiscal 2018. This adds back amortisation of acquired intangibles. In our opinion, the current AUD 7.80 share price equates to a too-h...
We make no change to our AUD 5.70 per share fair value estimate for no-moat Downer. That’s despite lowering our underlying fiscal 2019 NPAT forecast by 3% to a guidance-equalling AUD 291 million or AUD 0.49 per share from AUD 0.51; one year’s earnings does not a fair value make. Downer reported a just 2% increase in underlying first-half fiscal 2019 NPAT to AUD 115 million, 14% below our AUD 134 million forecast. But its underlying fiscal 2019 NPAT guidance is unchanged at AUD 291 million, s...
We make no change to our AUD 5.70 per share fair value estimate for no-moat Downer. That’s despite lowering our underlying fiscal 2019 NPAT forecast by 3% to a guidance-equalling AUD 291 million or AUD 0.49 per share from AUD 0.51; one year’s earnings does not a fair value make. Downer reported a just 2% increase in underlying first-half fiscal 2019 NPAT to AUD 115 million, 14% below our AUD 134 million forecast. But its underlying fiscal 2019 NPAT guidance is unchanged at AUD 291 million, s...
We make no change to our AUD 5.70 per share fair value estimate for no-moat Downer. That’s despite lowering our underlying fiscal 2019 NPAT forecast by 3% to a guidance-equalling AUD 291 million or AUD 0.49 per share from AUD 0.51; one year’s earnings does not a fair value make. Downer reported a just 2% increase in underlying first-half fiscal 2019 NPAT to AUD 115 million, 14% below our AUD 134 million forecast. But its underlying fiscal 2019 NPAT guidance is unchanged at AUD 291 million, s...
We make no change to our AUD 5.70 per share fair value estimate for no-moat Downer. That’s despite lowering our underlying fiscal 2019 NPAT forecast by 3% to a guidance-equalling AUD 291 million or AUD 0.49 per share from AUD 0.51; one year’s earnings does not a fair value make. Downer reported a just 2% increase in underlying first-half fiscal 2019 NPAT to AUD 115 million, 14% below our AUD 134 million forecast. But its underlying fiscal 2019 NPAT guidance is unchanged at AUD 291 million, s...
We increase our fair value estimate for no-moat Downer to AUD 5.70 per share from AUD 5.40 due to the time value of money. Our fair value estimate equates to a fiscal 2023 enterprise value/EBITDA of 5.0, crediting negligible five-year revenue growth, but improvement in midcycle EBITDA margin to 7.6% from fiscal 2018’s 6.5%. Our margin forecast is closer to longer-term historical averages, anticipating improvement from most earnings segments, and includes ongoing gains from Spotless as it is be...
Despite a highly supportive macroeconomic environment in the past decade, Downer EDI's financial results have been mixed, with strong profitability in one division often offset by losses in another. Downer has been unable to establish an economic moat. Lack of earnings stability and legacy issues have plagued the company. In the past, Downer has also underperformed from an operational perspective, but the firm now appears to have learned some hard lessons. However, Downer's mining services, infr...
We increase our fair value estimate for no-moat Downer to AUD 5.70 per share from AUD 5.40 due to the time value of money. Our fair value estimate equates to a fiscal 2023 enterprise value/EBITDA of 5.0, crediting negligible five-year revenue growth, but improvement in midcycle EBITDA margin to 7.6% from fiscal 2018’s 6.5%. Our margin forecast is closer to longer-term historical averages, anticipating improvement from most earnings segments, and includes ongoing gains from Spotless as it is be...
We make no change to our AUD 5.40 fair value estimate for no-moat Downer. Underlying fiscal 2018 NPAT of AUD 250 million came in 9% below our AUD 274 million forecast, but without implication for long-term assumptions. Net operating cash flow increased by 32% to AUD 583 million, boosted by the Spotless Group acquisition. But this too was also below our AUD 655 million expectations. The full-year dividend of AUD 0.27 missed our AUD 0.31 target, a 61% payout, but was calculated over the lower-than...
Moody's Investors Service ("Moody's") assigned Baa2 ratings to unsecured notes to be issued by The Dow Chemical Company. Proceeds from the new notes will be used to repay notes maturing in 2019 and for general corporate purposes, including refinancing of other debt. The outlook is stab...
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