A director at OFX Group Limited bought 21,500 shares at 1.390AUD and the significance rating of the trade was 68/100. 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 clea...
SYDNEY--(BUSINESS WIRE)-- OFX Group Limited (OFX) today announced it has completed its acquisition of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m). The transaction expands OFX’s capability and presence as a global foreign exchange and payments provider. OFX Chief Executive Officer and Managing Director, Skander Malcolm said: “We’re excited to complete our first major acquisition, and to welcome our new clients and colleagues. As we bring our businesses together, our first priority will be ensuring there is no disruption to Firma clients or employees. W...
SYDNEY--(BUSINESS WIRE)-- OFX Group Limited (OFX) today announces that it has entered into an agreement to acquire 100% of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m). Based in Edmonton, Canada and founded in 1998, Firma is a global foreign exchange service provider servicing Corporate clients. As at 30 September 2021, Firma had 194 employees, over 9,600 Corporate customers and operates from 9 offices in Canada, Australia, the UK, and New Zealand. Firma’s key products include spot and market orders, multi-currency accounts, payments and mass payments...
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....
OFX GROUP LIMITED (AU), a company active in the Speciality Finance industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date March 20, 2020, the closing price was AUD 1...
SYDNEY & SAN FRANCISCO--(BUSINESS WIRE)-- Group Limited (ASX: OFX), one of the world's leading international payments providers, announces the hire of Alfred Nader as President, North America. Mr. Nader, formerly of Western Union Business Solutions, joins OFX’s Global Executive Team to continue to build and grow OFX in the North American region. Mr. Nader is responsible for OFX’s entire North American operations and the successful delivery of OFX’s growth in this region. As a publicly-traded Australian firm, OFX has grown steadily over 20 years to become a global leader in the international...
A strong end to the financial year led to no-moat OFX Group earnings beating our expectations. Fiscal 2019 underlying net profit after tax or NPAT of AUD 21 million was about six percent higher than our forecast of AUD 19.8 million. Underlying NPAT was helped by disciplined cost control and a lower effective tax rate of 20% compared to our forecast of 24% and continuing guidance of 25%. Net operating income growth of 8% was particularly strong against the backdrop of a fall in global spot foreig...
OFX Group is a low-cost, easy-to-use, and secure provider of foreign exchange payment services. Its online model incorporates an efficient platform to handle tasks from client acquisition and execution to compliance and risk management. Combined with bank accounts and regulatory licences around the world, OFX Group continues to branch out from its Australian roots into the United Kingdom and Europe, with strong growth in North America and Asia. The company targets individual and small to midsize...
A strong end to the financial year led to no-moat OFX Group earnings beating our expectations. Fiscal 2019 underlying net profit after tax or NPAT of AUD 21 million was about six percent higher than our forecast of AUD 19.8 million. Underlying NPAT was helped by disciplined cost control and a lower effective tax rate of 20% compared to our forecast of 24% and continuing guidance of 25%. Net operating income growth of 8% was particularly strong against the backdrop of a fall in global spot foreig...
We have cut our fiscal 2019 EBITDA forecast for no-moat-rated OFX Group by 5% to AUD 31.8 million following management’s lowered guidance of AUD 30.9 million to AUD 32.0 million. Our lower fiscal 2019 forecast causes a reduction in later year forecasts and has reduced our fair value estimate by 6% to AUD 1.70 per share. However, at the current market price of AUD 1.65, the stock remains fairly valued. The downgrade was mainly caused by lower than expected foreign exchange rate volatility, and...
OFX Group is a low-cost, easy-to-use, and secure provider of foreign exchange payment services. Its online model incorporates an efficient platform to handle tasks from client acquisition and execution to compliance and risk management. Combined with bank accounts and regulatory licences around the world, OFX Group continues to branch out from its Australian roots into the United Kingdom and Europe, with strong growth in North America and Asia. The company targets individual and small to midsize...
We have cut our fiscal 2019 EBITDA forecast for no-moat-rated OFX Group by 5% to AUD 31.8 million following management’s lowered guidance of AUD 30.9 million to AUD 32.0 million. Our lower fiscal 2019 forecast causes a reduction in later year forecasts and has reduced our fair value estimate by 6% to AUD 1.70 per share. However, at the current market price of AUD 1.65, the stock remains fairly valued. The downgrade was mainly caused by lower than expected foreign exchange rate volatility, and ...
Higher operating expenses than expected in first-half fiscal 2019, focused primarily on increasing employee headcount and promotional activity, results in a reduction in our forecast fiscal 2019 underlying net profit after tax, or NPAT, for no-moat OFX Group to AUD 21.1 million from AUD 22.8 million. However, this has not resulted in a material change in our longer-term outlook for the business and our fair value estimate remains at AUD 1.80 per share. New management has continued the company’...
Higher operating expenses than expected in first-half fiscal 2019, focused primarily on increasing employee headcount and promotional activity, results in a reduction in our forecast fiscal 2019 underlying net profit after tax, or NPAT, for no-moat OFX Group to AUD 21.1 million from AUD 22.8 million. However, this has not resulted in a material change in our longer-term outlook for the business and our fair value estimate remains at AUD 1.80 per share. New management has continued the company’...
Higher operating expenses than expected in first-half fiscal 2019, focused primarily on increasing employee headcount and promotional activity, results in a reduction in our forecast fiscal 2019 underlying net profit after tax, or NPAT, for no-moat OFX Group to AUD 21.1 million from AUD 22.8 million. However, this has not resulted in a material change in our longer-term outlook for the business and our fair value estimate remains at AUD 1.80 per share. New management has continued the company’...
Higher operating expenses than expected in first-half fiscal 2019, focused primarily on increasing employee headcount and promotional activity, results in a reduction in our forecast fiscal 2019 underlying net profit after tax, or NPAT, for no-moat OFX Group to AUD 21.1 million from AUD 22.8 million. However, this has not resulted in a material change in our longer-term outlook for the business and our fair value estimate remains at AUD 1.80 per share. New management has continued the company’...
Positive earnings momentum, our continuing confidence in new management’s multipronged growth strategy, and the recent depreciation of the Australian dollar against major currencies such as the U.S. dollar, British pound, and euro prompt an increase in no-moat OFX Group’s underlying net profit after tax and fair value estimate. We increase the company’s fiscal 2019 underlying NPAT to AUD 22.8 million from the previous AUD 21.1 million and increase our fair value estimate by 6% to AUD 1.80 ...
OFX Group is a low-cost, easy-to-use, and secure provider of foreign exchange payment services. Its online model incorporates an efficient platform to handle tasks from client acquisition and execution to compliance and risk management. Combined with bank accounts and regulatory licences around the world, OFX Group continues to branch out from its Australian roots into the United Kingdom and Europe, with strong growth in North America and Asia. The company targets individual and small to midsize...
Positive earnings momentum, our continuing confidence in new management’s multipronged growth strategy, and the recent depreciation of the Australian dollar against major currencies such as the U.S. dollar, British pound, and euro prompt an increase in no-moat OFX Group’s underlying net profit after tax and fair value estimate. We increase the company’s fiscal 2019 underlying NPAT to AUD 22.8 million from the previous AUD 21.1 million and increase our fair value estimate by 6% to AUD 1.80 ...
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