COIMA RES (IT), a company active in the Real Estate Holding & Development industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as defensive. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date February 4, 2022, the closing price was EUR 7.33 and its expected value was estimated...
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....
Basic-Fit: very comforting French reopening stats. BE Semiconductor Industries: Feedback from Q&A, conference call with CEO. Euronext: Feedback from Q&A with CFO. Euronext: Healthy trading volumes in May. Just Eat Takeaway.com: Press reports of possible interest in GrubHub. NIBC: Offer price set to be reduced to €7.0 per share. Staffing: Positive surprise in US May Temp data and job report show signs of a recovery. Coverage changes
The ING Benelux equity research team has performed a Covid-19 scenario analysis in order to provide a reference point for investors and to test if stocks: (a) have been relatively oversold in comparison to their earnings risk; (b) still provide downside risk; and/or have balance issues in a Covid-19 scenario; and (c) could bounce sharply if a vaccine is found; or (d) benefit relatively from the crisis. Our analysis results in lists of stocks that we consider: (1) low earnings risk, with attracti...
Bekaert: Solid 1H19 and 2% REBIT beat should give comfort on turnaround. Cofinimmo: Improves earnings quality. Coima RES: Improved quality at a steep discount. Quest For Growth: Moderate growth. Signify: Results a touch weak, sizeable acquisition announced. Wereldhave: Underperforming peers
While Coima is in a tough position to grow more strongly in total size, the company shows discipline in execution of its strategy and shows a solid +2.4% LFL rental growth. Coima printed 1Q19 EPS/Recurring FFO of €0.10 and €0.11, respectively, in line with our expectations. NAV grew to €11.8/share, up 10% YoY driven by the Pavillion value uplift. The rent uplift on a renewal in its Gioiaotto office (+50%) shows the potential for prime Milan offices, and it is ‘Corso Como' (ex-Bonnet deve...
Air France-KLM: Encouraging outlook for 2Q19. ALD: Positive operating leverage maintained, but held back by Diesel RV repricing. Balta: Full year guidance reiterated, margins still under pressure. bpost: beat on 1Q19 but underlying mixed result due to weak mail volume trend. Brunel International: 10% beat on 1Q19 and accelerating revenue trends. Coima RES: remaining disciplined. Intervest Offices & Warehouses: Well on track for growth plan. Proximus: Better EBITDA despite sales mis...
We investigate a presumed October 2018 ‘style' rotation and try to find factors driving performance over the last year, potentially giving direction for 2019. Overlaying segment performance (eg, German resi vs offices vs retail) and style factors ‘quality' (initial yield), ‘growth' (2016-2019F EPS CAGR), ‘value' (low PER), we find that value consistently underperformed from February to August, after which quality underperformed and high yielding assets outperformed from July. Retail rema...
ASML: CMD feedback – A bright long-term outlook Belgian telecoms: TNET launches aggressive promotions in Brussels Cofinimmo: Gaining pace in healthcare investments Coima RES: Fundamentals continue to shine in 3Q Eurocommercial Properties: sells €50m French mall at book value LEG Immobilien: In-line 3Q results Royal Philips: Capital Markets Day Feedback Staffing sector: French market data better in September, October outlook a notch down
ADO Properties: “Group†play – The saga continues. Aedifica: Sells 50% of resi portfolio at 7% premium. AMG: Remains in the sweet spot with 14% EBITDA beat. ArcelorMittal: 3Q18 EBITDA in line, continues to see favourable conditions. ASM International: 3Q18 results – very strong order intake. Belgian telecoms: Proximus unlimited offers - OBEL well positioned, TNET needs to react. Coima RES: Pavilion financing secured at 1.8%. GBL: cash earnings in-line, discount increasing. IBA: C...
Ageas: A new SBB expected – Asian earnings in the spotlight ALD: Strong fleet growth with controlled cost growth AMG: Another 12% beat amid strong price momentum Basic-Fit: 1H18 results better than we expected and positive trends COIMA RES: Derisks acquisition, high upside D'Ieteren: Exceptional July car registrations Ordina: In line results but no acceleration yet in revenue growth or FTEs Vastned: One-offs and weak results Vopak: 1H18 preview, last difficult quarter
Aalberts Industries: Highlights from analyst meeting Bekaert: Actions to improve profitability and reduce leverage in 2H18 Beter Bed: Into negative EBIT, cuts interim dividend Cofinimmo: More investments, but slow organic growth Coima RES: Solid growth for 1H18 Colonial: Paris results power on Flow Traders: 2Q18 below consensus but LT growth strategy on track Proximus: Very good Q2 but fearing favorable conditions for mobile new entrant SBM Offshore: The lonely cowboy is now the MPF Signify: Low...
The Coima RES (CRES) long term outlook remains tied to that for the Milan office market. The c.100bp yield outshift of Italian bonds highlights financial markets' political concerns. In the long term this should have a limited effect on the CRES bottom line, while the risk premium has gone up. CRES has sourced two investments in Milan (Porta Nuova) with €104m in deals, so achieving the company's short-term pipeline goals. The apparent lack of supply of high quality office space in Milan shoul...
Air France-KLM: 1Q18 results not only affected by strike ALD: Car Sales margin above guidance range Brunel International: Strong 1Q18 trading update Coima RES: Rent growth accelerates Gecina: Pre-lets - three key developments GBL: results in-line, Sienna Capital continues to deliver Ontex: Mexican antitrust investigation; Mabe, Mabe not Proximus: 1Q18 in line, guidance confirmed Xior Student Housing: Waiting for growth to kick in
Aedifica: Confident for the future AMG: 30% capacity increase in Vanadium could lift EBITDA by US$12.5m by 2020F Coima Res: Solid results, waiting for next steps Deceuninck: in-line results offset by higher net debt EVS: Better Q4 , orderbook on the low side Fugro: As expected but outlook not yet convincing Gecina: Solid 2017, disposals remain key Gimv: 3Q17/18 NAV increases to €49.5 per share, in-line with expectations KBC: CET1 capital target lowered as expected to 16.0% Leasinvest: Stronger...
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...
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