Three Directors at Inghams Group Limited bought/maiden bought 48,607 shares at between 3.110AUD and 3.140AUD. 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...
INGHAMS GROUP (AU), a company active in the Farming & Fishing industry, increases its market risk and lowers its general evaluation. The independent financial analyst theScreener just requalified the stock market behaviour as moderately risky. On the other hand, theScreener awards a fundamental star to the title, but the new risk assessment downgrades the general evaluation to Neutral. As of the analysis date January 28, 2022, the closing price was AUD 3.36 and its expected value was estimated a...
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....
Despite falling by about 15% since the start of calendar 2019, shares in no-moat Inghams remain overvalued relative to our AUD 3.50 per share fair value estimate. While the company hasn’t provided any explicit earnings guidance, management recently confirmed it is comfortable with the current consensus estimates for fiscal 2019, which indicates about 3% EBITDA growth for the full year, broadly in line with our expectations. Our long-term earnings projections are broadly unchanged, and we fore...
Despite falling by about 15% since the start of calendar 2019, shares in no-moat Inghams remain overvalued relative to our AUD 3.50 per share fair value estimate. While the company hasn’t provided any explicit earnings guidance, management recently confirmed it is comfortable with the current consensus estimates for fiscal 2019, which indicates about 3% EBITDA growth for the full year, broadly in line with our expectations. Our long-term earnings projections are broadly unchanged, and we fore...
Despite falling by about 15% since the start of calendar 2019, shares in no-moat Inghams remain overvalued relative to our AUD 3.50 per share fair value estimate. While the company hasn’t provided any explicit earnings guidance, management recently confirmed it is comfortable with the current consensus estimates for fiscal 2019, which indicates about 3% EBITDA growth for the full year, broadly in line with our expectations. Our long-term earnings projections are broadly unchanged, and we forec...
No-moat-rated Inghams reported a fiscal 2019 interim underlying NPAT of AUD 55 million, a 5% decline on the previous corresponding period, or pcp. However, this decline was primarily a function of a higher effective tax rate (increased to 29.5% following changes in New Zealand tax legislation), whereas revenue and EBITDA grew by 3% and 4%, respectively. At the current pace, the firm is tracking towards our AUD 111 million full-year NPAT estimate. The board declared an interim fully franked divid...
No-moat-rated Inghams reported a fiscal 2019 interim underlying NPAT of AUD 55 million, a 5% decline on the previous corresponding period, or pcp. However, this decline was primarily a function of a higher effective tax rate (increased to 29.5% following changes in New Zealand tax legislation), whereas revenue and EBITDA grew by 3% and 4%, respectively. At the current pace, the firm is tracking towards our AUD 111 million full-year NPAT estimate. The board declared an interim fully franked divid...
No-moat-rated Inghams reported a fiscal 2019 interim underlying NPAT of AUD 55 million, a 5% decline on the previous corresponding period, or pcp. However, this decline was primarily a function of a higher effective tax rate (increased to 29.5% following changes in New Zealand tax legislation), whereas revenue and EBITDA grew by 3% and 4%, respectively. At the current pace, the firm is tracking towards our AUD 111 million full-year NPAT estimate. The board declared an interim fully franked divid...
Shares in Inghams are overvalued relative to our unchanged AUD 3.50 per share fair value estimate. We believe the market is overly optimistic about the likelihood Ingham’s will be retain the expected margin gains, following the ongoing cost-cutting program. Whilst we project the company to extract efficiencies in the near term, the intense competition from rival Baiada, exacerbated by the relatively weak bargaining position with supermarkets Coles and Woolworths, will limit the upside. These a...
Shares in Inghams are overvalued relative to our unchanged AUD 3.50 per share fair value estimate. We believe the market is overly optimistic about the likelihood Ingham’s will be retain the expected margin gains, following the ongoing cost-cutting program. Whilst we project the company to extract efficiencies in the near term, the intense competition from rival Baiada, exacerbated by the relatively weak bargaining position with supermarkets Coles and Woolworths, will limit the upside. These a...
Shares in Inghams are overvalued relative to our unchanged AUD 3.50 per share fair value estimate. We believe the market is overly optimistic about the likelihood Ingham’s will be retain the expected margin gains, following the ongoing cost-cutting program. Whilst we project the company to extract efficiencies in the near term, the intense competition from rival Baiada, exacerbated by the relatively weak bargaining position with supermarkets Coles and Woolworths, will limit the upside. These a...
Ingham's reported a relatively strong fiscal 2018 result, with underlying net profit after tax, or NPAT, up 10% to AUD 113 million, albeit in line with our expectations. The main driver of the earnings improvement was cost savings through Project Accelerate, which offset rising feed and utility costs, modestly higher Australian poultry volume (up 1.6%), an estimated 3% decline in the average selling price, and oversupply in the New Zealand market. On a more positive note, the balance sheet stren...
Ingham's reported a relatively strong fiscal 2018 result, with underlying net profit after tax, or NPAT, up 10% to AUD 113 million, albeit in line with our expectations. The main driver of the earnings improvement was cost savings through Project Accelerate, which offset rising feed and utility costs, modestly higher Australian poultry volume (up 1.6%), an estimated 3% decline in the average selling price, and oversupply in the New Zealand market. On a more positive note, the balance sheet stren...
Ingham's reported a relatively strong fiscal 2018 result, with underlying net profit after tax, or NPAT, up 10% to AUD 113 million, albeit in line with our expectations. The main driver of the earnings improvement was cost savings through Project Accelerate, which offset rising feed and utility costs, modestly higher Australian poultry volume (up 1.6%), an estimated 3% decline in the average selling price, and oversupply in the New Zealand market. On a more positive note, the balance sheet stren...
We are concerned by Inghams CEO Mick McMahon's decision to step down from the role. His departure part way through a major transformation program, for which he has been a key architect and an advocate, reduces confidence in the company's longer-term outlook. After joining Inghams in January 2015, his tenure as CEO will come to an end after the fiscal 2018 result in August. Chief commercial officer, or CCO, Quinton Hildebrand will take the reins as the interim CEO, while the company searches for ...
We are concerned by Inghams CEO Mick McMahon's decision to step down from the role. His departure part way through a major transformation program, for which he has been a key architect and an advocate, reduces confidence in the company's longer-term outlook. After joining Inghams in January 2015, his tenure as CEO will come to an end after the fiscal 2018 result in August. Chief commercial officer, or CCO, Quinton Hildebrand will take the reins as the interim CEO, while the company searches for ...
Inghams Group delivered solid first-half fiscal 2018 net profit after tax of AUD 65.7 million, up 28% compared with pro forma first-half fiscal 2017. Adjusting for asset sales, restructuring costs, and a one-off tax credit, underlying interim NPAT was approximately AUD 57.5 million, broadly in line with our expectations. Key highlights included core chicken and turkey sales volumes, up 3.7% on the strong previous comparable period, or PCP; improved yields; lower unit costs; and improved asset ut...
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