reports
- Mohamed Marei
PALM HILLS – VALUATION UPDATE
​We raise our valuation for PHDC by 14% over our previous update, to stand at EGP 4.49/share vs. EGP 3.94/share updated post our assumptions concerning risk free rates expected cuts. The upgrade comes loaded by 4Q2016/1Q2017 massive prices rerating for the company`s inventory and expected new launches, as the market information we gathered indicates that the average market pricing for standalone units is currently being marketed at c. EGP 17-19K/sqm (cumulative value of BUA & Land divided by B...
Ford Equity International Rating and Forecast Report
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...
- Mohamed Marei
Palm Hills - Valuation Update
​We raise our valuation for PHDC by 13% over our previous update, to stand at EGP 3.64/share vs. EGP 3.23/share issued 2 weeks ago (November 8th). The upgrade comes as PHDC continues to show positive surprises, launching Palm Hills New Cairo project in 4Q2016 – as previously indicated by the management versus our recent assumption of the launch to take place in 2H2017. PHDC was able to beat our conservative assumptions, and register a 100% standalone units` sellout during such harsh and crit...
Q3: Sales and handovers regain strength after Q2 seasonality.
​​Net contracted sales reached EGP 2bn in Q3 16A alone, fuelled by solid uptake on secondary homes in the North Coast during the summer season. Cancellations remained low at 8% of sales (EGP 163m, -11% y/y, -71% q/q)Revenues up 34% y/y driven by accelerated construction spend, and 15-20% y/y pricing growth across developments Improved handover mix (delivery of high-margin yielding units in the North Coast) lifts margins by 500bps y/y
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.