In this quarterly strategy report, we look to evaluate where we are with regards the bull market conditions, and where those indicators might be headed, factoring in the downside risks, from Trump tariffs and the US economy, BoJ actions, Japanese earnings and valuations.
PSA Professional Services: Park24 (4666 JT) 4% Dividend Yield in FY27 Attractive Growth is steady and dividend yield, buybacks and payout ratio look attractive. Balance sheet quality has improved and risk of equity financing is limited.
When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to...
Small cap analyst Hiroyuki Terada reviews the August performance at Park24 and revises his FY24 / FY25 / FY26 forecasts, which are ahead of company guidance and consensus estimates, as he is more optimistic on contributions to earnings from the high-margin Mobility business. And while the market is monitoring several financial events which could lead to a possible equity finance, we think the risk is very low.
Shares have fallen despite a consensus beat. This is due to concerns over the Australia business, and young members’ unexpectedly high accident rate for the mobility business. Hiroyuki Terada looks at the concerns of investors, to see whether or not, their concerns will prove unfounded. Please see report for details.
Park24 aims to raise around JPY25.5bn (US$210m) via selling 16m new shares at a fixed price of JPY1,644, representing a 9.9% discount to last close. Proceeds from the deal will be geared towards digital investment towards improving business efficiency and renewal of business infrastructure systems. Remaining funds will be used towards expanding its mobility fleet which includes electric vehicles. Proceeds are expected to be allocated by Oct 2024. In this note, we will talk about the firm’s t...
The general evaluation of PARK24 (JP), a company active in the Transportation Services 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 August 31, 2021, the closing price was ...
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....
YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for international equity markets, and supports our neutral outlook (at best)... see page 2. We continue to recommend avoiding broad indexed exposure in favor of selectivity. In today's report we highlight actionable country- and Sector-specific themes: • Norway and India are leadership. Norway's Oslo OBX and India's SENSEX remain global leaders. Overweight ...
As support levels continue to hold for the MSCI ACWI and S&P 500, our neutral but constructive outlook remains. Additionally, we reiterate our expectation for more consolidation and volatility. In today's report we highlight actionable stocks within countries that are displaying bullish price and relative strength trends. • Asia/Pacific. In Japan, the TOPIX continues to exhibit leadership characteristics. Stay overweight. Broadly speaking, global Consumer Staples stocks are lagging, but Japan...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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