A director at Cleanaway Waste Management Limited bought 38,759 shares at 2.590AUD and the significance rating of the trade was 59/100. 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 la...
CLEANAWAY WASTE MANAGEMENT (AU), a company active in the Waste & Disposal Services industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date November 9, 2021...
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....
Global Equities Dive, Testing Major Support Global equities have gone from extreme bullish sentiment and an extended market to panic and fear over coronavirus concerns. It is virtually impossible to predict what will happen regarding the virus or how much further markets could sell off as a result. Below we explain our outlook based on what we do know, which has been dampened but is not yet dire. • Indexes Testing Major Support. Major indexes are testing long-term base support and/or support...
Our model portfolio has added 200bp of Alpha since our last update and our stock selection remains broadly unchanged. We continue our strategy that we put in place early this year and again lift the bar on defensive positioning. The Banks are struggling on several fronts and we move underweight ANZ and CBA. We maintain our overweight in NAB and our underweight in WBC. The global economic cycle is long-in-the-tooth and recession seems inevitable, with prospects of a large global equity draw...
Big Picture: Our outlook remains neutral for global ex-U.S. markets while horizontal consolidation continues on the MSCI ACWI ex-U.S. index... see chart below. In today's report we take a bottoms-up view on developed ex-U.S. equities, highlighting stocks that present attractive buy opportunities right here, right now. Note: This is part one of a two-part series, where we focus on actionable stocks within the Services, Consumer Discretionary, Consumer Staples, Energy, and Financials Sectors. W...
YTD sideways congestion for the MSCI ACWI ex-US and an intact downtrend for the MSCI EM index continue to point to a risk-off environment for international equity markets, and supports our neutral outlook (at best)... see page 2. We continue to recommend avoiding broad indexed exposure in favor of selectivity. In today's report we highlight actionable country- and Sector-specific themes: • Norway and India are leadership. Norway's Oslo OBX and India's SENSEX remain global leaders. Overweight ...
Australia is overtaking other markets in the race to the end of the global equities bull market. We are sticking to the themes and sector positioning outlined in our 2018 outlook – it has worked well thus far so we don’t change course. Australia has outperformed most major markets – we expect this to continue. Australia is a relatively defensive market, which will be attractive as late-cycle uncertainties lift volatility in global markets Good outperformance by staying long growth. Our mo...
We plan to cease coverage on no-moat Cleanaway in August 2017. We periodically adjust our coverage as necessary based on stock outlook, client demand, and investor interest. We still view no-moat Cleanaway as significantly overvalued, with investors overestimating the longer-term earnings leverage to waste volume growth, which we view as tracking at a 3% CAGR over the next five years. We believe the current share price of AUD 1.35 implies roughly 5% volume growth per year over the next five year...
We still view no-moat Cleanaway as significantly overvalued, with investors overestimating the longer-term earnings leverage to waste volume growth, which we view as tracking at a 3% CAGR over the next five years. We maintain our AUD 0.90 fair value estimate. We believe the current share price of AUD 1.35 implies roughly 5% volume growth per year over the next five years, which we think is unrealistic, considering intense industry competition and a lack of economic moats throughout the industry....
We maintain our AUD 0.90 fair value estimate following no-moat Cleanaway’s interim 2017 result. Underlying first-half 2017 net profit after tax, or NPAT, of AUD 34.9 million (up 20.3%) was in line with our estimates; hence, we make minor changes to our forecasts (up 3% in 2017 and 2% in 2018). The key feature of the result was the strength of cost-out, with EBITDA margins expanding by 240 basis points to 20.8%. 2017 earnings guidance is unchanged, with the company targeting higher EBITDA earni...
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...
Cleanaway Waste Management announced at its AGM that market conditions will show little change in 2017 from those experienced in 2016 and based on current trading, both the Solids and Liquids & Industrial Services divisions should report increases in earnings. Revenue in Liquids & Industrial Services will remain challenged for the first half of fiscal 2017 and possibly the full year due to continuing tough market conditions and technical shutdowns initiated during the first half. We have...
Cleanaway announced 2016 full-year net profit after tax, or NPAT, of AUD 44.8 million, which compared with a loss of AUD 23.6 million in 2015. Like-for-like NPAT (excluding AUD 18.5 million of restructuring charges) increased 38.5% to AUD 63.3 million, which was 15% ahead of our estimates and consensus forecasts. EPS of AUD 0.04 increased 37.9%, while a final dividend of AUD 0.009 (fully franked) brought full-year dividends to AUD 0.017 (up 13%). Highlights of the result included very strong cos...
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