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Kid ASA: 1 director

A director at Kid ASA sold 4,161,291 shares at 123.000NOK and the significance rating of the trade was 100/100. 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 sh...

Petter Nystrøm
  • Petter Nystrøm

Kid - Will strike back

’23e EPS down 10% on lower GM & higher costs New growth initiatives are highly welcomed Confidence hit, but great entry point

Petter Nystrøm
  • Petter Nystrøm

Kid - Will strike back

Weak Q3 as expected due to GM hit. Reiterate GM target for 2023, but ’23e EPS down ~8% Confidence hit, but great entry point

Petter Nystrøm
  • Petter Nystrøm

Kid - Weaker GM, 23 EPS likely down 7%

Weaker GM given lack of control Likely to reduce ’22 and 23 EPS by 20% and 7% Disappointing for sure

Petter Nystrøm
  • Petter Nystrøm

Kid - Q3: Sales 3.5% below and flattish y-o-y

Sales 3.5% below on softer LFL Full year EBIT likely down ~2% on Q3 sales miss Still strong valuation support

Petter Nystrøm
  • Petter Nystrøm

Kid - Standing tall

’23 EPS down 12% on lower expected sales Prepared for challenging times; low debt + track record P/E of 9.0x and ~11% dividend yield – we would BUY

Petter Nystrøm
  • Petter Nystrøm

Kid - Ready for a volatile H2’22

Q2: Yet again a solid report and a comforting outlook A favorite in our retail coverage: Outstanding track record P/E below 10x and over 10% divi yield. BUY

Petter Nystrøm
  • Petter Nystrøm

Kid - Good Q2 finish

Q2 EBITDA +2% on better opex-to-sales % Freight costs at peak – GM should be better going fwd Good summer sales derisks Q3. Limited est chgs

Petter Nystrøm
  • Petter Nystrøm

Kid - Q2 beat an de-risking estimates

Q2 sales 3% better. Both NOR and SWE better Q3 estimates look fine in our view Q2 beat, lifts ’22 sales 1.8% and de-risks estimates

Petter Nystrøm
  • Petter Nystrøm

Kid - BUY the favourite

A favourite in our retail coverage Q2 looks safe in our view. Estimates unchanged BUY: 2022e P/E below 9x and >10% divi yield

Petter Nystrøm
  • Petter Nystrøm

Kid - Retailing at its best

EPS up 1-3% on higher margins Strong pipeline for growth initiatives P/E 10x, +9% dividend yield. BUY, TP NOK 135 (142)

Petter Nystrøm
  • Petter Nystrøm

Kid - Better Q1, strong Q2 start

Q1 EBITDA 2-4% on higher sales and GM April sales disclosed: Strong, +14% yoy (we have 5%) Estm likely up +2%, stock to outperform 2-4%.

Petter Nystrøm
  • Petter Nystrøm

Kid - Retail star performer at a discount to peers

’22e-’24e EPS up ~2% on higher sales and better GM Impressive track record looks set to continue ’22 P/E 10.6x, ~9% divi yield: BUY, 40% upside to TP

Petter Nystrøm
  • Petter Nystrøm

Kid - Heading for a rebound

Multiple expansion set to materialise Impressive GM execution, earnings risk reduced in ‘22 ’22e P/E below 11x, almost 40% upside to TP: BUY

Petter Nystrøm
  • Petter Nystrøm

Kid - Strong finish driven by GM

Impressive GM, reduces estimate risk for ‘22 Better div, NOK 4 vs our estm NOK 3.60 Stock should move up ~5% today given a strong report.

Petter Nystrøm
  • Petter Nystrøm

Kid - Q4 sales 2.9% below

Q4 sales 2.9% below our numbers driven by Hemtex Q4 EBITDA likely down ~6% (2-3% for full year) Expect stock to move down 3-5% today.

Petter Nystrøm
  • Petter Nystrøm

Kid - Rock solid

Q3: Better on costs, highlighting a lower GM next year ’21e and ’22e EPS up 12% and 4% respectively ’21e P/E of 12.4x, 7% dividend yield: BUY

Petter Nystrøm
  • Petter Nystrøm

Kid - Better, but lower GM in Q4

Lower opex gives ~16% EBITDA beat Higher freight costs will hit GM in Q4 Limited estimate revisions

Petter Nystrøm
  • Petter Nystrøm

Kid - Q3 sales better

Q3 sales better, up ~4% y-o-y Estimates unchanged ’21 P/E 13.8x, +6% dividend yield, BUY

Petter Nystrøm
  • Petter Nystrøm

Kid - Revenue growth and beat

Q3 revenues +2% vs our estimate and up ~4% y-o-y Hemtex explains the beat Impressive with yoy growth given challenging comps

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