The general evaluation of Z ENERGY (NZ), a company active in the Oil Equipment & Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date January 11, 2022, the closing price was NZD 3.59 and...
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 make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
We make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
We make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
We make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
We make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
We make no change to our NZD 8.30 fair value estimate for no-moat Z Energy, which reported lower-than-expected fiscal 2019 underlying EPS, down 14% to NZD 0.44, well below our NZD 0.51 target. However, we think the drivers of earning weakness are short term. Our fiscal 2020 EPS forecast is only marginally weaker at NZD 0.56. Underlying EBITDAF of AUD 434 million came in at the midpoint of recent upwardly revised NZD 420 million-NZD 450 million guidance. But higher-than-expected interest on deriv...
Z Energy has upwardly revised fiscal 2019 earnings guidance by around 5% to NZD 420-450 million in replacement cost, or RC, EBITDA, accounting for a decline in the crude price and reversal of the price lag. In a falling crude market, Z Energy enjoys better retail and commercial trading conditions as fuel becomes cheaper for customers, and reduced their price-sensitivity shifts consumption towards full-service offerings. Prior to crude’s retreat, Z Energy had been experiencing the most challeng...
Z Energy has upwardly revised fiscal 2019 earnings guidance by around 5% to NZD 420-450 million in replacement cost, or RC, EBITDA, accounting for a decline in the crude price and reversal of the price lag. In a falling crude market, Z Energy enjoys better retail and commercial trading conditions as fuel becomes cheaper for customers, and reduced their price-sensitivity shifts consumption towards full-service offerings. Prior to crude’s retreat, Z Energy had been experiencing the most challeng...
After Shell's exit in 2010, Z Energy successfully increased its gross fuels margin by 65%. However, New Zealand transport fuel consumption has stagnated for more than a decade and we think optimising the fuels margin can only go so far. Further, we have reservations in the owning of a stake in New Zealand's only refiner, comparatively modest though it is. Refineries are low-margin and capital-intensive, but Z Energy has many favourable attributes that make it an attractive investment at the righ...
After Shell's exit in 2010, Z Energy successfully increased its gross fuels margin by 65%. However, New Zealand transport fuel consumption has stagnated for more than a decade and we think optimising the fuels margin can only go so far. Further, we have reservations in the owning of a stake in New Zealand's only refiner, comparatively modest though it is. Refineries are low-margin and capital-intensive, but Z Energy has many favourable attributes that make it an attractive investment at the righ...
Z Energy has upwardly revised fiscal 2019 earnings guidance by around 5% to NZD 420-450 million in replacement cost, or RC, EBITDA, accounting for a decline in the crude price and reversal of the price lag. In a falling crude market, Z Energy enjoys better retail and commercial trading conditions as fuel becomes cheaper for customers, and reduced their price-sensitivity shifts consumption towards full-service offerings. Prior to crude’s retreat, Z Energy had been experiencing the most challeng...
Z Energy has upwardly revised fiscal 2019 earnings guidance by around 5% to NZD 420-450 million in replacement cost, or RC, EBITDA, accounting for a decline in the crude price and reversal of the price lag. In a falling crude market, Z Energy enjoys better retail and commercial trading conditions as fuel becomes cheaper for customers, and reduced their price-sensitivity shifts consumption towards full-service offerings. Prior to crude’s retreat, Z Energy had been experiencing the most challeng...
We make no change to our NZD 8.00 per share fair value estimate. No-moat Z Energy reported first-half fiscal 2019 replacement cost earnings down 40% to NZD 62.7 million. This was well below our NZD 118 million forecast, but we don’t view the drivers as long-term in nature. On our measure, replacement cost earnings before interest, tax, depreciation and amortisation, or RC EBITDA, fell 24% to NZD 170 million, again well below our NZD 230 million forecast. Z Energy said the operating environment...
We make no change to our NZD 8.00 per share fair value estimate. No-moat Z Energy reported first-half fiscal 2019 replacement cost earnings down 40% to NZD 62.7 million. This was well below our NZD 118 million forecast, but we don’t view the drivers as long-term in nature. On our measure, replacement cost earnings before interest, tax, depreciation and amortisation, or RC EBITDA, fell 24% to NZD 170 million, again well below our NZD 230 million forecast. Z Energy said the operating environment...
We make no change to our NZD 8.00 per share fair value estimate. No-moat Z Energy reported first-half fiscal 2019 replacement cost earnings down 40% to NZD 62.7 million. This was well below our NZD 118 million forecast, but we don’t view the drivers as long-term in nature. On our measure, replacement cost earnings before interest, tax, depreciation and amortisation, or RC EBITDA, fell 24% to NZD 170 million, again well below our NZD 230 million forecast. Z Energy said the operating environmen...
We make no change to our NZD 8.00 per share fair value estimate. No-moat Z Energy reported first-half fiscal 2019 replacement cost earnings down 40% to NZD 62.7 million. This was well below our NZD 118 million forecast, but we don’t view the drivers as long-term in nature. On our measure, replacement cost earnings before interest, tax, depreciation and amortisation, or RC EBITDA, fell 24% to NZD 170 million, again well below our NZD 230 million forecast. Z Energy said the operating environmen...
We make no change to our NZD 8.00 per share fair value estimate. No-moat Z Energy reported first-half fiscal 2019 replacement cost earnings down 40% to NZD 62.7 million. This was well below our NZD 118 million forecast, but we don’t view the drivers as long-term in nature. On our measure, replacement cost earnings before interest, tax, depreciation and amortisation, or RC EBITDA, fell 24% to NZD 170 million, again well below our NZD 230 million forecast. Z Energy said the operating environment...
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