Two Directors at PKP Cargo S.A. bought 10,000 shares at between 18.557PLN and 18.620PLN. The significance rating of the trade was 52/100. 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...
The independent financial analyst theScreener just lowered the general evaluation of PKP CARGO (PL), active in the Transportation Services industry. As regards its fundamental valuation, the title still shows 2 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date December 14, 2021, the clo...
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....
ï‚§ MSCI May Index Review - Standard indices (STD) changes: DEL: AmRest (to SC), Bank Millennium (to SC), CCC (to SC), Transneft; SmallCap indices (SC) changes: ADD: Verallia, Bank Handlowy, Petropavlovsk; DEL: PKP Cargo ï‚§ AT: Atrium - Announces voluntary scrip-dividend program, to be confirmed at EGM on June 15 (positive) ï‚§ AT: Flughafen Wien - Austrian Ailrlines re-starts operations (positive) ï‚§ HU: Wizz Air - Moody's confirms Wizz Air's Baa3 LT issuer rating, outlook negative (neutral) ...
ï‚§ MSCI May Index Review - Standard indices (STD) changes: DEL: AmRest (to SC), Bank Millennium (to SC), CCC (to SC), Transneft; SmallCap indices (SC) changes: ADD: Verallia, Bank Handlowy, Petropavlovsk; DEL: PKP Cargo ï‚§ AT: AT&S - 2019/20 DPS proposal of EUR 0.25/share (positive) ï‚§ AT: Flughafen Wien - Uncertain future of Ryanair business model at Vienna Airport (negative) ï‚§ AT: UNIQA - RBI CEO Johann Strobl proposed as new member of supervisory board (neutral) ï‚§ AT: Verbund - 1Q 20 s...
ï‚§ AT: Frequentis - B&C stake falls below 10% (neutral) ï‚§ AT: UBM Development - UBM and ARE enter into strategic partnership to diversify exposure (positive) ï‚§ HU: Gedeon Richter - 1Q 20 top line and earnings above consensus despite lower qoq contribution of Vraylar (positive) ï‚§ HU: OTP - 1Q net loss on higher risk costs (negative) ï‚§ PL: CCC - Execution of agreements related to share placement (neutral) ï‚§ PL: Netia - 1Q 20 results in line with expectations (neutral) ï‚§ PL: PKP Cargo ...
AT: Addiko Bank - AGM postponed to 4Q 20 (neutral) â—¾AT: Austrian Banks - Government and banks likely to announce a moratorium for private individuals soon (neutral) â—¾AT: Mayr-Melnhof - Peter Oswald becomes CEO already as of April, one month earlier (neutral) â—¾PL: AmRest - Suspension of 2020 guidance (neutral) â—¾PL: CCC - Agreement reached with financing institutions including postponement of debt repayments (positive) â—¾PL: Ciech - Better than expected 4Q 19 results (positive) â—¾PL: PGE...
The coronavirus crisis also affects companies' dividend payments, first, due to AGMs being postponed and foremost due to the economic turmoil, potential regulatory intervention and cash restraints. Below we present an overview of the biggest dividend risks and potential timelines for AGMs and subsequent 2019 dividend pay-outs in our Coverage universe. Dividend risks We clearly see the highest risk for dividends in the banking sector as many regulators have already issued recommendations to su...
ï‚§ AT: FACC - FY 19 results in line with preliminaries, no dividend for FY 19 (neutral) ï‚§ AT: FACC - Management board mandate of CEO Robert Machtlinger extended (neutral) ï‚§ AT: Lenzing - Lenzing suspends 2020 guidance (negative) ï‚§ AT: Rosenbauer - Reduction of production at Austrian sites (neutral) ï‚§ CZ: Czech Banks - Further rate cut and QE ahead (neutral) ï‚§ PL: Asseco Poland - Expects strong 1Q 20 results not to be impacted by the current situation (neutral) ï‚§ PL: Bank Pekao - The...
ï‚§ AT: Andritz - 2020 guidance suspended (neutral) ï‚§ AT: IMMOFINANZ, S IMMO - Merger plan possibly to be revived (positive) ï‚§ AT: UBM - UBM publishes SWOT analysis on Covid-19 impact (neutral) ï‚§ AT: voestalpine - Short-term work and capacity adjustments in response to demand slump (neutral) ï‚§ AT: Zumtobel - Revocation of guidance for FY 19/20 and FY 20/21 (negative) ï‚§ CZ: Komercni Banka - Dividend suspended and outlook for all P&L itmes under review (negative) ï‚§ HR: Podravka - The c...
We have developed a speedy test for the companies under coverage to capture their risk profiles in the current environment Scorecard based on - Industry risk - Revenue resilience - Margin resilience - Debt level - Refinancing risk - CAPEX flexibility Last week we collected feedback from companies to assess the impact from COVID-19 with the focus on China and other hotspots (especially Italy). By now, the framework has changed dramatically, and the half-life of recent scenarios seems to equal t...
ï‚§ AT: Flughafen Wien - Airlines cut capacities further (negative) ï‚§ AT: Lenzing - 4Q 19 results and negative 2020e guidance in line, 2024e EBITDA guidance of EUR 800 mn way above expectations (neutral) ï‚§ AT: Oesterreichische Post - Slightly better than expected operating performance, DPS 2.08 (positive) ï‚§ AT: OMV - Supervisory Board approved acquisition of additional stake in Borealis for USD 4.7 bn (neutral) ï‚§ AT: OMV, Verbund - Verbund evaluates a potential acquisition of OMV's stake...
PKP stock plummeted more than 35% since our last rating in November, slumping to an all-time low after reports of a continuing decline in shipments and market share. In February we made revisions to our earnings expectations for the Rail Carrier to reflect lower volumes, rising costs of employment and electricity, weaker demand expected in Q1 2020 due to an unseasonably warm winter, and growing negative sentiment for coal, which makes up the bulk of the Company's cargos. More recently, fresh dow...
ï‚§ FTSE Index March review - AllCap (SML) del: PKP Cargo; L->M: PKO BP ï‚§ AT: Addiko Bank - DDM Holding buys 9.9% stake in Addiko Bank for EUR 30 mn (neutral) ï‚§ PL: Alior Bank - Profit warning 4Q 19 on additional PLN 186 mn provision for early repaid consumer loans (negative) ï‚§ PL: Asseco Poland - ZUS launched a tender for maintenance of its largest IT system to be granted for 77 months (neutral) ï‚§ PL: Energa/Enea - Detailed analysis of Ostroleka C project to be completed by May 7, 2020...
In 2019 PKP Cargo faced the toughest year in terms of volume dynamics on the Polish market since its IPO. It was a surprising drop both for us and for the management. The company entered the year 2019 with significant salary hikes partly fuelled by the market growth in 2017-2018. It now looks to us that a transfer of wealth from millions of pension funds clients (collapsing share price, OFEs as key financial shareholders) to thousands of company employees (salary hikes despite plunging effective...
Raiffeisen Centrobank Equity Daily 04.02.2020 â—¾AT: AT&S - Disappointing 3Q 19/20 results, significantly below RCBe and consensus (negative) â—¾AT: AT&S - Profit warning in the wake of the coronavirus outbreak halting production (negative) â—¾AT: CA Immo - Pre-leases ca. 7000 sqm of office space in Mississippi house in Prague (positive) â—¾AT: Zumtobel - Postponement of Capital Markets Day, company refers to re-evaluation of strategy (neutral) â—¾CH: Aluflexpack - FY 19 revenues of EUR 208 mn m...
We expect the positive growth delta of the CEE region vs. the Euro Area to persist in FY 20-21e. We forecast continued robust growth in the region ranging between 2.0-3.5% yoy in FY 20e and FY 21e stimulated by private and public consumption, supported by expansionary fiscal and/or monetary policies in CEE economies. We expect Poland to outperform CEE peers in terms of GDP growth in 2020e (3.3%, down from 4.3% in 2019e). While some of the problematic topics which dominated in 2019 remain on the...
• We are positive about stock markets. Stocks ↑ • WIG > EM > SPX > EuroStoxx • The global economic cycle is close to the inflection point. • Central banks’ policy will support risky assets. • GPW is in the ‘risk search’ phase and a wave of optimism may have a dynamic impact on multiple re-rating. • The most important topic for 2020 on the GPW will be a significant increase in the capacity of domestic investors to purchase stocks. Inflows should send valuations up. • Poland:...
EME Equity Market – November 2019 Market performance – the weakest performance in November was recorded by the Polish WIG20 Index, in both EUR- and PLN-terms (-2.9% mom and -1.6% mom, respectively). While the MSCI Index lost 0.4% in local currency terms, it gained 0.8% in EUR terms. With the exception of Poland, all the other indices recorded a positive performance, with the Turkish ISE30 gaining 8.9% (EUR terms) over the month. The BET Index was the second-best performer, increasing by 3.2%...
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