reports
- Dave Nicoski
- Ross LaDuke
Vital Signs: Actionable charts
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
SBH SALLY BEAUTY HOLDINGS INC.
NCLH NORWEGIAN CRUISE LINE HOLDINGS LTD.
LMNR LIMONEIRA CO.
AMWD CARTHAGE CEMENT
CC AMERICAN WOODMARK CORPORATION
PAGS CHEMOURS CO.
GLOB PAGSEGURO DIGITAL LTD
LYFT GAZIT-GLOBE LTD.
VIACA LYFT
JOBY VIACOMCBS INC
METBV JOBY AVIATION INC
QUICKTOU RAMACO RESOURCES INC.
QUICKTOUCH TECHNOLOGIES LTD.
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Bear Market Rally With Potential for More In last week's Compass (May 24) we noted the S&P 500 was testing support at 3800-3860 within its downtrend channel and that we were on watch for a potential bear market rally/oversold bounce. This has officially begun following the break above 4030 on the S&P 500, which was confirmed by bullish reversals on the Russell 2000 (IWM), Nasdaq 100 (QQQ), DAX, Hang Seng, MSCI China (MCHI), and China Internet (KWEB). For now, we are treating this as a bear mark...
PBF PBF ENERGY INC. CLASS A
MUSA MURPHY USA INC.
EURN EURONAV NV
CVI CVR ENERGY INC.
ALB ALBEMARLE CORPORATION
LPG DORIAN LPG
GLOP GASLOG PARTNERS LP
DLNG DYNAGAS LNG PARTNERS LP
CC CARTHAGE CEMENT
OLN OLIN CORPORATION
MPC. MADISON PACIFIC PROPERTIES INC. CL B
FRO FRONTLINE LTD.
G2O GOLAR LNG LIMITED
HP HELMERICH & PAYNE INC.
PTEN PATTERSON-UTI ENERGY INC.
VLO VALERO ENERGY CORPORATION
INSW INTERNATIONAL SEAWAYS INC.
DK DELEK US HOLDINGS INC
SMHI SEACOR MARINE HOLDINGS
A2DSYC LINDE PLC
STNG SCORPIO TANKERS INC.
BORR BORR DRILLING
SFL SFL CORPORATION LIMITED
TNK TEEKAY TANKERS
NBR NABORS INDUSTRIES LTD.
PDu PRECISION DRILLING
DINO HOLLYFRONTIER CORP
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Cyclical Value Areas Improving -- Add Exposure Cyclical value areas are starting to play catch-up as interest rates show signs of bottoming -- all kickstarted by Friday's better-than-expected employment report. We see many actionable opportunities, particularly within the Financial and Materials Sectors, and also several retail stocks within Consumer Discretionary. As we noted last week, despite mixed signals from the market, there continues to be an absence of breakdowns at the index and Secto...
AMN AMN HEALTHCARE SERVICES INC.
TNET TRINET GROUP INC.
RHI ROBERT HALF INTERNATIONAL INC.
NSP INSPERITY INC.
ALB ALBEMARLE CORPORATION
BBSI BARRETT BUSINESS SERVICES INC.
CC CARTHAGE CEMENT
OLN OLIN CORPORATION
AKZOY AKZO NOBEL NV
CCRN CROSS COUNTRY HEALTHCARE INC.
KELYA KELLY SERVICES INC. CLASS A
LN LINE CORP (ADR)
ASGN ASGN INC
CDAY CERIDIAN HCM HOLDING INC.
ASN Africa Stock Guide - July 2019
- In this Africa Stock Guide document, we have 33 main stocks selected from the Casablanca Stock Exchange from our scope of 40 companies, 13 stocks selected from the Tunisia Stock Exchange and 16 stocks from of the BRVM Stock Exchange. - The total capitalization of those stocks is: EUR 61.1 bn.
ECYCL EURO-CYCLES S.A
BIAT BIAT
IAM ITISSALAT AL MAGHRIB STE SA
TJARI ATTIJARI BANK
ATL COMPAGNIE D'ASSURANCES ET DE REASSURANCE ATLANTA
ATW ATTIJARIWAFA BANK
NAKL ENNAKL AUTOMOBILES
CC CARTHAGE CEMENT
A110ZV TAQA MOROCCO
LBV HYPER S.A. (LABEL VIE)
SAH SAHAM ASSURANCE
LYD LYONNAISE DES EAUX DE CASABLANCA
GAZ AFRIQUIA GAZ
SFBT SOCIETE FRIGORIFIQUE ET BRASSERIE DE TUNIS
ATH AUTO HALL
OUL LES EAUX MINERALES D'OULMES S.A.
LES LESIEUR CRISTAL S.A.
DHO DELTA HOLDING S.A.
CMT COMPAGNIE MINIERE DE TOUSSIT S.A.
ADH DOUJA PROMOTION GROUPE ADDOHA
CMA LES CIMENTS DU MAROC
CDM CREDIT DU MAROC
ADI ALLIANCES DEVELOPPEMENT IMMOBILIER SA
TMA TOTAL MAROC SA
SOT SOTHEMA
MSA MARSA MAROC
DH DELICE HOLDING
LHM LAFARGEHOLCIM MAROC SA
- Fatma CHARFI
Insufficient improvement
Carthage Cement’s Q3 2017 results are still declining despite the rebound in sales in Q3 2017 compared to Q2 2017. Sales decreased by 11% to TND132.5m. This decline is due mainly to the -77% deterioration in exports compared to a year earlier. On the other hand, sales on the local market stabilised at TND95m. Capex fell by 40%, from TND15m to TND9m. On the other hand, the cement maker’s debt increased to TND517m on 30/09/2017 against TND514m on 31/12/2016, an increase of 0.6%.
- Fatma CHARFI
The slump continues
Carthage Cement’s H1 2017 results continue their bearish trend. Q2 2017 sales decreased by 22.5% to TND44m against TND56m in the same quarter in 2016. This decline in revenues is explained by the collapse of the export sales by more than 85%, and the decrease in cement production by 20.4%. In addition, the production of clinker increased by 12.3% to 412,484 tonnes in Q2 2017. On the other hand, the production of the Ready Mix was limited to 49,213 m3, a decrease of 9.2%.
- Please Change Name Please Change Surname
Declining sales = Cash Problem
Q1 2017 results for Carthage Cement are in decline. Q1 2017 sales decreased by 13.3% due to a 74.4% decline in exports and a slowdown in local demand. In addition, production of clinker is limited to only 156,033 tonnes, a decrease of 62.5% in Q1 2017. Cement production is diminishing by 4.8%. On the other hand, the production of the Ready Mix increased by 9.6% to reach 49,297 tonnes. Regarding the investment spending, Carthage Cement reduced its capex by 35.5% (TND2,376m vs.
- Kais KRIAA
Thanks H1!
Carthage Cement disclosed its Q4 2016 trading statements: it is the worst quarter in 2016. Carthage Cement’s Q4 2016 sales decreased by 15%, compared to Q4 2015, to reach TND48.41m. The revenues generated from CC’s exporting activities dropped by 49% during Q4 2016, representing a negative growth rate of -14% over 2016 to reach TND22.17m. The annual sales of Clinker increased by 26% to TND5.44m. As for the ready mix, it continued its downward trend and dropped by 13%, yoy, pulling down the...
- Kais KRIAA
More details about the contract in Côte d’Ivoire
During our last call with the management of Carthage Cement (CC), we discussed the export contract with an Ivorian customer. According to the management: “The contract with the Ivorian customer is signed and it was about the sale of 6.720 MT over 7 years (an average 0.96 MT/year). The start of this partnership is scheduled for January 2017, but nothing is yet certain, despite the signing of this contract â€.
- Kais KRIAA
Decelerating sales momentum
CC’s Q3 2016 sales were up by 6.6% to TND39.304m. This is the worst quarter in 2016. The current 17% sales growth rate was largely due an exceptional H1 2016 (+21.0%), especially in Q1 when revenue growth reached 42.7%. CC’s market share was stable at around 19% on 3% volume decline for local market in 2016. Q3 2016 export activity decreased by 16.0% to TND3.808m. For the whole year, export sales showed a slight decrease of 1.6% to TND18.765m.
Satisfactory, but insufficient, growth
A good start to the year for Carthage Cement: Q1 2016 sales increased by 42.7% to TND53.472m, backed by both the local market (+33.4% to TND31.365M), as well as export sales (+51.1% to TND8.605m). Moreover, Aggregates and Ready-Mix businesses posted solid growth (+26.3% to TND10.441m global sales). CC announced a 17.97% market share, a slight improvement of 97 bps compared to that displayed in 2015 (17% announced as of 31/12/2015). CC’s market strengthening resulted from a volume increase by a...
Significant growth, but below our expectations
In line with our forecasts, Carthage Cement posted positive Q4 2015 figures. The 2015 cement production jumped by 46.9% thanks to a good Q4 2015 (+91.3% yoy and + 65.8% qoq). Carthage Cement's sales increased by 8.7% to TND184.271M, of which TND140.527M for the Cement segment (+23.4%). However, 2015 export sales declined, due to the dramatic drop in prices on the Algerian market. The Ready Mix sales also rose 8.8% to TND20.293M.
Another disappointment
Carthage Cement's shareholders are experiencing a difficult period. With the collapse of the stock price (-38% since early 2015, and -63.5% over the last three years), the recent figures released by Carthage Cement put the final nail in the coffin. Q2 2015 revenues decreased by 11.2% to TND53.181 pulled down by lower cement sales (-14.3% to TND42.432M). The Ready-Mix business performed well, posting a 5.4% growth to TND6.068M in Q2 2015.
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