The independent financial analyst theScreener just slightly lowered the general evaluation of SYDNEY AIRPORT (AU), active in the Transportation Services industry. As regards its fundamental valuation, the title confirms its rating of 4 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of the a...
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....
A director at Sydney Airport maiden bought 40,000 shares at 5.453AUD and the significance rating of the trade was 64/100. 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 ...
Publicly traded Australasian airports saw continued traffic challenges in the first calendar quarter of 2019, highlighted by declines in movements to and from China and weak domestic Australian performance. We continue to think both wide-moat Auckland Airport and narrow-moat Sydney Airport enjoy long-term competitive advantages, but see no margin of safety to account for near-term risk at current prices. We maintain our AUD 7.30 fair value estimate for Sydney and NZD 7.40 (AUD 7.00) estimate for...
Publicly traded Australasian airports saw continued traffic challenges in the first calendar quarter of 2019, highlighted by declines in movements to and from China and weak domestic Australian performance. We continue to think both wide-moat Auckland Airport and narrow-moat Sydney Airport enjoy long-term competitive advantages, but see no margin of safety to account for near-term risk at current prices. We maintain our AUD 7.30 fair value estimate for Sydney and NZD 7.40 (AUD 7.00) estimate for...
Narrow-moat Sydney Airport’s full-year 2018 results were in line with our expectations and keep the firm on track for solid, albeit slowing, bottom-line growth going forward. As reported on Jan. 18, total passenger traffic increased 2.5% in the year, driven by 4.7% international and 1.2% domestic traffic growth. Alongside higher per-passenger rates and the positive mix shift of greater international traffic, regulated aeronautical revenue increased 7.6% versus 2017, while upgrades to retail fa...
Sydney Airport enjoys strong competitive advantages, stemming from its position as the only airport in Sydney capable of handling international aircraft. The airport, under lease through 2097, is Australia's busiest and currently the only regular passenger transport airport in Sydney. It has strong operating leverage and it is currently benefiting from low interest rates and minimal tax bill. This combination is reflected in our more than 4% per year distribution growth forecast through 2021. Th...
Narrow-moat Sydney Airport’s full-year 2018 results were in line with our expectations and keep the firm on track for solid, albeit slowing, bottom-line growth going forward. As reported on Jan. 18, total passenger traffic increased 2.5% in the year, driven by 4.7% international and 1.2% domestic traffic growth. Alongside higher per-passenger rates and the positive mix shift of greater international traffic, regulated aeronautical revenue increased 7.6% versus 2017, while upgrades to retail fa...
Narrow-moat Sydney Airport’s 2018 passenger traffic reflected further domestic slowdown, but solid international growth, continuing the trends seen in recent quarters and largely tracking our expectations. Full-year international passenger growth of 4.7% was ahead of our 4.0% forecast, offset by domestic traffic growth of 1.2% which slightly trailed our 2.0% projection. Total traffic grew by 2.5% versus 2017, close to our 2.7% target. We expect international traffic growth to decelerate in com...
Narrow-moat Sydney Airport’s 2018 passenger traffic reflected further domestic slowdown, but solid international growth, continuing the trends seen in recent quarters and largely tracking our expectations. Full-year international passenger growth of 4.7% was ahead of our 4.0% forecast, offset by domestic traffic growth of 1.2% which slightly trailed our 2.0% projection. Total traffic grew by 2.5% versus 2017, close to our 2.7% target. We expect international traffic growth to decelerate in com...
Passenger traffic during the September quarter at narrow-moat Sydney Airport and wide-moat Auckland Airport tracked our full-year expectations, with solid, but slowing international movements. As a reminder, Auckland's year-end is June, Sydney's is December. Our fair value estimates remain at AUD 7.30 per security for Sydney and NZD 7.40 for Auckland’s New Zealand shares, but increases to AUD 6.90 per share for Auckland’s Australian listing given a strengthening New Zealand dollar. Sydney’...
Passenger traffic during the September quarter at narrow-moat Sydney Airport and wide-moat Auckland Airport tracked our full-year expectations, with solid, but slowing international movements. As a reminder, Auckland's year-end is June, Sydney's is December. Our fair value estimates remain at AUD 7.30 per security for Sydney and NZD 7.40 for Auckland’s New Zealand shares, but increases to AUD 6.90 per share for Auckland’s Australian listing given a strengthening New Zealand dollar. Sydney’...
Narrow-moat Sydney Airport’s first-half results reflect continued solid international passenger growth, retail sales gains, and slight operating leverage, largely in line with our expectations. While we expect passenger growth to slow as the year progresses, we remain confident that the airport will continue to enjoy gains well above population growth, alongside further retail spending benefits and expanding EBITDA margins over the long run. To this end, we’ve lifted our near-term profit out...
Sydney Airport enjoys strong competitive advantages, stemming from its position as the only airport in Sydney capable of handling international aircraft. The airport, under lease through 2097, is Australia's busiest and currently the only regular passenger transport airport in Sydney. It has strong operating leverage and it is currently benefiting from low interest rates and minimal tax bill. This combination is reflected in our more than 6% per year distribution growth forecast through 2021. Th...
Narrow-moat Sydney Airport’s first-half results reflect continued solid international passenger growth, retail sales gains, and slight operating leverage, largely in line with our expectations. While we expect passenger growth to slow as the year progresses, we remain confident that the airport will continue to enjoy gains well above population growth, alongside further retail spending benefits and expanding EBITDA margins over the long run. To this end, we’ve lifted our near-term profit out...
Wide-moat Auckland Airport's fiscal 2018 passenger movements met our expectations, while narrow-moat Sydney Airport's traffic performance through the first six months of the year tracks our full calendar year forecast. As a reminder, Auckland's year-end is June, Sydney's is December. We maintain our NZD 7.20 (AUD 6.80) and AUD 7.20 fair value estimates for Auckland Airport and Sydney Airport, respectively. Shares in Auckland look more attractive, trading at a 7% discount to our valuation versus ...
Wide-moat Auckland Airport's fiscal 2018 passenger movements met our expectations, while narrow-moat Sydney Airport's traffic performance through the first six months of the year tracks our full calendar year forecast. As a reminder, Auckland's year-end is June, Sydney's is December. We maintain our NZD 7.20 (AUD 6.80) and AUD 7.20 fair value estimates for Auckland Airport and Sydney Airport, respectively. Shares in Auckland look more attractive, trading at a 7% discount to our valuation versus ...
Wide-moat Auckland Airport's fiscal 2018 passenger movements met our expectations, while narrow-moat Sydney Airport's traffic performance through the first six months of the year tracks our full calendar year forecast. As a reminder, Auckland's year-end is June, Sydney's is December. We maintain our NZD 7.20 (AUD 6.80) and AUD 7.20 fair value estimates for Auckland Airport and Sydney Airport, respectively. Shares in Auckland look more attractive, trading at a 7% discount to our valuation versus ...
Sydney Airport’s passenger traffic improved nicely in March versus the first couple of months of 2018, and year-to-date is tracking slightly ahead of our full-year projections. But we attribute this improvement largely to timing, given the Easter holiday weekend fell at the end of the first quarter this year versus squarely in the second quarter in 2017, and maintain our near-term forecasts. We expect passenger growth to slow slightly as the year progresses. However, we’re encouraged interna...
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