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....
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers, today announced that it has completed the sale of its ServiceMaster Brands franchise businesses to an affiliate of investment funds managed by Roark Capital Management LLC for $1.553 billion. With the completion of the sale, the Company is changing its name to Terminix Global Holdings, Inc., and its stock will begin trading Monday, October 5, 2020 under the NYSE ticker symbol ‘TMX’. The transaction better positions both Terminix ...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers, today announced that the company will change its name to Terminix Global Holdings, Inc., and change its NYSE ticker symbol to ‘TMX’, immediately upon the closing of the sale of its ServiceMaster Brands segment, and associated names and trademarks, to Roark Capital, an affiliate of investment funds managed by Roark Capital Management LLC, expected within the next 30 days. This press release features multimedia. View the full releas...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, health-based cleaning and restoration markets, today announced that, following a thorough strategic review process, it has entered into an agreement to sell its ServiceMaster Brands businesses to an affiliate of Roark Capital, for $1.553 billion. The transaction is expected to close in approximately 30 to 60 days, subject to customary legal and regulatory closing conditions. The transaction will posi...
SERVICEMASTER GLOBAL (US), a company active in the Business Support Services industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date August 21, 2020, the c...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today announced that Brett T. Ponton will become its new Chief Executive Officer, on or before October 1, 2020. Since 2017, Mr. Ponton has served as President and Chief Executive Officer of Monro, Inc. (Nasdaq: MNRO), the largest independent operator of tire and auto service retail stores in the U.S., where he has led a successful transformation strategy. Mr. Ponton ...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today announced unaudited second-quarter 2020 results. For the second quarter of 2020, the Company reported a year-over-year continuing operations revenue increase of eight percent to $534 million and net income of $53 million, or $0.40 per share. Continuing operations Adjusted EBITDA(1) for the quarter increased $15 million to $119 million with Adjusted net income(2...
GPS currently trades below recent averages relative to Uniform assets, with a 0.8x Uniform P/B (V/A'). At these levels, the market is pricing in expectations for Uniform ROA to slightly compress from 6% in 2020 to 5% through 2025, accompanied by 2% Uniform asset shrinkage going forward. Analysts have similarly bearish expectations, projecting Uniform ROA to fall to 2% levels through 2022, accompanied by 14% Uniform asset shrinkage. That said, management is confident about growth, margins, and e-...
ServiceMaster Global Holdings, Inc. (SERV:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 33.9x Uniform P/E. At these levels, markets have bullish expectations for the firm, but management appears concerned about various initiatives, cancel rates, and costs Specifically, management may be exaggerating the success of the Terminix brand in Q1 before the coronavirus disruption, as well as their outlook for disinfection service demand. Also, managem...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- . (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today confirmed its plan to release its unaudited second-quarter 2020 financial results after 6 a.m. central time (7 a.m. eastern time) on Thursday, August 6, 2020. The company will hold a conference call to discuss its financial and operating results at 8 a.m. central time (9 a.m. eastern time) on Thursday, August 6, 2020. The company invites all interested parties to join Interim Chief Executive Of...
MEMPHIS, TENN.--(BUSINESS WIRE)-- . (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today provided an outlook for the second quarter of 2020. Second-Quarter 2020 Outlook In order to update the market on recent trends in the business, second-quarter 2020 Revenue and Adjusted EBITDA guidance is provided below for Continuing Operations, and the ServiceMaster Brands Divesture Group. Conti...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today announced unaudited first-quarter 2020 results. For the first quarter of 2020, the Company reported a year-over-year continuing operations revenue increase of nine percent to $456 million and net income of $14 million, or $0.10 per share. Continuing operations Adjusted EBITDA(1) for the quarter was $60 million with Adjusted net income(2) of $11 million, or $0.0...
BZH currently trades below recent averages relative to Uniform earnings, with a 5.8x Uniform P/E (Fwd V/E'). At these levels, the market is pricing in expectations for Uniform ROA to decline from 13% in 2019 to 5% in 2024, accompanied by 3% Uniform asset contraction going forward. However, analysts have bullish expectations, projecting Uniform ROA to expand to 15% through 2021, accompanied by 2% Uniform asset growth. That said, management is excited about their efforts to simplify product offeri...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- . (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today confirmed its plan to release its unaudited first-quarter 2020 financial results after 6 a.m. central time (7 a.m. eastern time) on Thursday, May 7, 2020. The company will hold a conference call to discuss its financial and operating results at 8 a.m. central time (9 a.m. eastern time) on Thursday, May 7, 2020. The company invites all interested parties to join Interim Chief Executive Officer N...
ï€ ServiceMaster Global Holdings, Inc. (SERV:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 26.4x Uniform P/E. At these levels, markets have bullish expectations for the firm, but management appears concerned about termite damage claims, their customer experience platform, and strategic brand alternatives ï€ Specifically, management may lack confidence in their ability to sustain organic growth, identify strategic brand alternatives, and miti...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- As the concern around the spread of COVID-19 has caused significant disruption of many businesses and communities, Terminix Commercial, a leading provider of commercial pest management, and a ServiceMaster company (NYSE: SERV), is launching a new disinfecting service to meet the growing need for disinfection head-on. This press release features multimedia. View the full release here: The new service from Terminix Commercial, Disinfectix™ Site Disinfecting Service, is a convenient and effective way to give business owners the confidence that their areas will ...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- ServiceMaster Global Holdings, Inc. (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today announced unaudited full-year and fourth-quarter 2019 results. For the full year 2019, the Company reported a year-over-year revenue increase of nine percent to $2,077 million with net income of $128 million, or $0.94 per share. Adjusted EBITDA(1) for the year was $417 million. Adjusted net income(2) improved 41 percent in 2019 to $184 million, or $1.35 per sha...
RBC currently trades below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 14.5x Uniform P/E. At these levels, the market is pricing in expectations for Uniform ROA to decline from 14% in 2018 to 11% in 2023, accompanied by immaterial Uniform Asset growth going forward. However, analysts have bullish expectations, projecting Uniform ROA to improve to 15% through 2020, accompanied by 9% Uniform Asset shrinkage. Meanwhile, management is confident about their growth potential,...
MEMPHIS, Tenn.--(BUSINESS WIRE)-- (NYSE: SERV), a leading provider of essential services to residential and commercial customers in the termite, pest control, cleaning and restoration markets, today announced it will explore strategic alternatives for its ServiceMaster Brands business, including a potential sale of the segment. The Company also announced today that Naren Gursahaney, current Chairman of the Board, has been named as interim Chief Executive Officer of ServiceMaster, effective immediately. He succeeds Nik Varty, who has stepped down as CEO and Board member to pursue other oppor...
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