What’s new: Temple & Webster provided an update where growth has accelerated over the half. TPW also expects FY25 EBITDA margin to be towards the top end of the guidance range. We up our PT from AUD18 to AUD21 on improving business outlook. Our updated PT of USD21 implies 3.2x on FY26E EV/Revs. We maintain our BUY rating. Analysts: Jin Yoon
A director at Temple & Webster Group Ltd sold 500,000 shares at 16.400AUD and the significance rating of the trade was 72/100. 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 y...
What’s new: TPW reported 1HFY25 results that were above consensus and our expectations. Rev growth could further improve as comps get easier towards the latter part of 2HFY25, and the company has the margin flexibility to further invest to drive top-line growth. We up our PT from A$13 to A$18 on continued market share gains. Our updated PT of A$18 implies 2.7x FY26E EV/Revs. Analysts: Jin Yoon
What’s new: Temple & Webster held its annual general meeting (AGM) today. The company provided a trading update where business is seeing good momentum – including AOV returning to growth and percentage of orders from repeat customers continue to inch up. Margin is also trending in-line within the target range. Analysts: Jin Yoon
What’s new: TPW reported 2HFY24 top-line results that were largely in-line with consensus and our estimates. Revenues continue to show positive momentum in 1HFY25 partly driven by both repeat and first-time customer growth. We maintain our PT at A$13. Analysts: Jin Yoon
What's new: TPW reported 1HFY24 top-line results were slightly below consensus and our estimates, but margins top expectations partly driven by better distribution margins. Revenues continue to show positive momentum in 2HFY24 partly driven by both repeat and first-time customer growth. We up our PT from A$7 to A$13 and upgrade the stock from NEUTRAL to BUY on improving outlook. Our updated PT of A$13 implies a 2.4x FY25 EV/Revs. Analysts: Jin Yoon
What’s new: Temple & Webster held its annual general meeting (AGM) today. The company provided business updates where sales have been trending better than our initial expectations, while EBITDA margin guidance remains intact. We up our PT from AUD7 to AUD8 on improving business outlook. Our revised PT of AUD8 implies 1.9x FY24E EV/Revs. We maintain our Neutral rating. Analysts: Jin Yoon
What's new: TPW reported FY23 top-line results were largely in-line with consensus and above our expectations. Business continues to show positive momentum driven by both repeat and first-time customer growth. We up our PT from A$4 to A$7 on improving outlook. Our updated PT of A$7 implies a 1.7x FY24 EV/Revs. We maintain our NEUTRAL rating. Analysts: Jin Yoon
What’s new: Temple & Webster provided an update where the business has returned to YoY growth in the past four weeks as it fully lapses tough comps due to covid. The company also reiterated its 3%-5% EBITDA target for FY23 and provided updates related to its share buyback program and latest AI initiatives. Analysts: Jin Yoon
What's new: TPW reported 1HFY23 top-line results were largely in-line with our expectations but below consensus estimates. Near-term demand environment could remain challenging amid macro uncertainties. We lower our PT from A$10 to A$4 and downgrade the stock from BUY to NEUTRAL rating as visibility remains limited and consumption trade down among existing cohorts could continue to persist in the near-term. Our updated PT of A$4 implies a 0.8x FY24 EV/Revs. Analysts: Jin Yoon
What’s new: Temple & Webster held its annual general meeting (AGM). The company provided an update for FY23 where overall business has begun the trajectory back to growth and that top-line could potentially return to double digit growth during the financial year. TPW also reiterated its 3%-5% EBITDA target for FY23. We maintain our PT at A$10. Analysts: Jin Yoon
What's new: TPW reported FY22 top-line results were below consensus and our expectations. The company provided an updated margin guidance for FY23 where EBITDA margin could be in the range of 3%-5% (up from previous guidance of 2%-4%) driven by cost control measures amid macro backdrops. While near-term visibility remains limited, top line could start to normalize towards the back half of the fiscal year. We maintain our PT at A$10. Analysts: Jin Yoon
What’s New: TPW has provided business updates where revenue grew by 23% YoY for the period Jan 1 to Apr 30. FY22 EBITDA margin is expected to be ~3% (excluding investments in The Build), which is in-line with prior guidance of 2-4%. The company also announced a separate platform “The Build by Temple & Webster” to cater to the DIY home improvement market where TPW would put out an initial investment of A$10mn across FY22 and FY23. Analysts: Jin Yoon
What’s New: We are initiating on Temple & Webster (TPW) with a BUY rating at a PT of A$10, which implies 1.96x FY23E EV/Rev. Our positive view is based on continued share gains story driven by 1) extensive product availability over its domestic peers; 2) improving conversion and repeat purchases through visualization tools; 3) competitive supply chain in key categories in home furnishing; and 4) macro tailwinds amid resiliency in the housing market. Analysts: Jin Yoon
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....
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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