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An unfavourable environment weighs on VECTOR, which sees a downgrade t...
The independent financial analyst theScreener just requalified the general evaluation of VECTOR (NZ), active in the Multiutilities industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date November 30, 2021, the closing price was NZD 3....
Vector Limited: 1 director bought
A director at Vector Limited bought 15,000 shares at 4.530NZD and the significance rating of the trade was 63/100. 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 clearly...
- Please Change Name Simon Poidevin
VECTOR Limited: Update following FY17 results announcement
INFRASTRUCTURE AND PROJECT FINANCE CREDIT OPINION 12 September 2017 Update RATINGS VECTOR Limited Domicile New Zealand Long Term Rating Baa1 Type Senior Unsecured - Dom Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Arnon Musiker +61 292 708 161
- Please Change Name Simon Poidevin
Moody's comments on Vector Limited
Announcement: Moody's comments on Vector Limited. Global Credit Research- 24 Aug 2017. Sydney, August 24, 2017-- Moody's Investors Service says that Vector Limited's financial results for the fiscal year ended 30 June 2017 are broadly in line with its expectations and as a consequence will have no immediate impact on Vector's Baa1 senior unsecured rating or stable outlook.
- Adrian Atkins
Ceasing Coverage on Vector
We plan to cease coverage on no-moat-rated Vector Limited in August 2017. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. Despite owning monopoly electricity and gas distribution assets, we believe Vector lacks an economic moat because of the regulatory cap on returns. The regulatory environment is tough, and will continue to make excess returns difficult to achieve. Nonetheless, the firm has secure earnings, a strong balance sheet, ...
- Please Change Name Musiker
VECTOR Limited: Update Following 1H17 Results Announcement
INFRASTRUCTURE AND PROJECT FINANCE CREDIT OPINION 9 March 2017 Update RATINGS VECTOR Limited Domicile New Zealand Long Term Rating Baa1 Type Senior Unsecured - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Spencer Ng 612-9270-8191
- Adrian Atkins
Flat 1H17 Operating Result for Vector; No Change to FVE
Vector Limited reported a flat first-half fiscal 2017 operating result with adjusted EBITDA down 1% to NZD 252 million, excluding customer contributions and one-offs. However, a much lower interest expense following repayment of debt with proceeds from the sale of Vector Gas helped adjusted NPAT increase around 25% to NZD 63 million. Full-year EBITDA guidance was increased marginally to the top of the prior guidance range of NZD 460-475 million, including one-offs. We make minor adjustments to...
Ford Equity International Rating and Forecast Report
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...
- Adrian Atkins
Vector Looking Better Value, But Still Not Cheap
A sharp increase in global bond yields in recent months has triggered a sell-off across income stocks. While better value than before, Vector is still not cheap. At the current price of NZD 3.20, we consider it fairly valued compared with our unchanged NZD 3.10 fair value estimate, offering a 5% fully imputed yield with moderate growth outlook. The sale of Vector Gas was well-timed, and the firm is in good shape to deal with rising bond yields. This is because it has relatively low financial le...
- Adrian Atkins
Vector has an electricity and gas distribution monopoly in Auckland, b...
We are updating our forecasts for Vector Limited after remodelling the company to incorporate its fiscal 2016 results. Guidance is for fiscal 2017 underlying EBITDA of NZD 460 to 475 million. Guidance suggests the firm is likely to marginally beat our prior fiscal 2017 EBITDA forecast of NZD 461 million, which we upgrade 2% to NZD 470 million. We forecast modest growth in the medium term, driven by reinvestment in the regulated networks and growth in the technology business. We maintain our NZ...
- Adrian Atkins
Updating Our Forecasts Following Vector's Result; No Change to FV
We are updating our forecasts for Vector Limited after remodelling the company to incorporate its fiscal 2016 results. Guidance is for fiscal 2017 underlying EBITDA of NZD 460 to 475 million. Guidance suggests the firm is likely to marginally beat our prior fiscal 2017 EBITDA forecast of NZD 461 million, which we upgrade 2% to NZD 470 million. We forecast modest growth in the medium term, driven by reinvestment in the regulated networks and growth in the technology business. We maintain our NZ...
- Adrian Atkins
Vector has an electricity and gas distribution monopoly in Auckland, b...
Vector's full-year underlying EBITDA from continuing operations increased 5% on the prior period to NZD 473 million, excluding Vector Gas, which was sold during the year. This stronger performance was underpinned by growth in Auckland and metering and strong cost control across the regulated businesses, offset by a decline in gas trading. Our NZD 3.10 per share fair value estimate is unchanged following our initial impression of the fiscal 2016 result. We will circle back to update our financial...
- Adrian Atkins
Strong Finish to Fiscal 2016 for Vector; Fair Value Estimate Unchanged
Vector's full-year underlying EBITDA from continuing operations increased 5% on the prior period to NZD 473 million, excluding Vector Gas, which was sold during the year. This stronger performance was underpinned by growth in Auckland and metering and strong cost control across the regulated businesses, offset by a decline in gas trading. Our NZD 3.10 per share fair value estimate is unchanged following our initial impression of the fiscal 2016 result. We will circle back to update our financial...
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