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....
Elegant has this morning announced H1 results that should position it well to deliver market expectations. There was a marginal decline in ADR offset by slightly higher levels of occupancy, delivering a 1.0% increase in RevPAR. We are tweaking down our forecasts to move in line with the lower end of the consensus range to reflect a tougher rate environment driven by increased competition in the all-inclusive segment of the market as well as increased VAT. That said, we believe the shares represe...
Elegant has delivered a short but robust trading update, which confirms it continues to trade in line with expectations. Encouragingly, booking trends are also ahead of last year as we enter the peak trading period. We are maintaining our forecast assumptions on the back of this, and believe the valuation, asset backing, and yield look attractive.
We note the recent weakness in the company’s share price, which is down 18% since the interim results and now at the lowest point since December 2016 when the shares were recovering from a c.30% downgrade to forecasts as the company faced a variety of trading headwinds post Brexit. In our view, the market is beginning to stabilise and the current share price, which is significantly below the recently mooted bid price of 110p and at a large discount to the sector, represents significant value. ...
Elegant has this morning announced H1 results that should position it well to deliver our FY expectations. YoY improvements have been delivered across most KPIs and the company has confirmed trading is in line with expectations, we are therefore leaving our full year forecasts. We believe the shares represent good long-term value, trading below IPO price and at a 41% discount to NAV, with a yield of 4.7% which remains ahead of the sector average with solid cover in excess of 2.3x.
Elegant has delivered solid final results, which are 2% ahead of our forecasts at the adjusted EPS level. We are lowering our forecasts to reflect recent investment. Despite the uptick in debt following this investment, the current NAV of 163p should give some support. The dividend has also been rebased to 4.0p per annum from 2018E, albeit the yield on this in excess of 4% remains ahead of the sector average with solid cover in excess of 2.3x.
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...
A director at Elegant Hotels Group bought 40,000 shares at 63p and the significance rating of the trade was 69/100. 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 cl...
Elegant Hotels owns five freehold hotels, rated four and five stars, in prime beach Barbadian locations, comprising 333 suites and 150 rooms. This comprises some 25% of the islandÂ’s upscale stock. It has seen a 23% growth in visitors since 2010 (on an unchanged number of locations). Post IPO, loan-to-value will be under 20%. With this robust asset base, Elegant Hotels is a resilient proposition and has a strong history of raising ROCE (14% post tax in FY15E) and profits. Under management which ...
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