reports
- Brian Han
Morningstar | Insiders and Outsiders' Divergent Faith in Ardent Leisur...
Since unveiling its fiscal 2019 first-half result on Feb. 22, 2019, shares in Ardent Leisure have slumped 8%, underperforming the market by 12%. At one stage in early April, they were down as much as 23%. Investor frustration with the progress of the theme park recovery and Main Event’s uncertain growth trajectory are palpable. However, we maintain our faith and the AUD 2.00 fair value estimate, with the stock currently trading at a 34% discount to this intrinsic assessment. Restoration of Ar...
- Brian Han
Morningstar | Insiders and Outsiders' Divergent Faith in Ardent Leisur...
Since unveiling its fiscal 2019 first-half result on Feb. 22, 2019, shares in Ardent Leisure have slumped 8%, underperforming the market by 12%. At one stage in early April, they were down as much as 23%. Investor frustration with the progress of the theme park recovery and Main Event’s uncertain growth trajectory are palpable. However, we maintain our faith and the AUD 2.00 fair value estimate, with the stock currently trading at a 34% discount to this intrinsic assessment. Restoration of Ar...
- Brian Han
Insiders and Outsiders' Divergent Faith in Ardent Leisure
Since unveiling its fiscal 2019 first-half result on Feb. 22, 2019, shares in Ardent Leisure have slumped 8%, underperforming the market by 12%. At one stage in early April, they were down as much as 23%. Investor frustration with the progress of the theme park recovery and Main Event’s uncertain growth trajectory are palpable. However, we maintain our faith and the AUD 2.00 fair value estimate, with the stock currently trading at a 34% discount to this intrinsic assessment. Restoration of Ard...
- Brian Han
Ardent Leisure Requires Ardent Patience
We maintain our AUD 2.00 fair value estimate on Ardent Leisure, despite the underwhelming fiscal 2019 first-half result showing slower-than-expected progress in earnings recovery. Theme Parks' underlying EBITDA loss of AUD 5 million was worse than the AUD 1 million loss suffered a year ago, and starkly contrasts with the 24% EBITDA growth achieved by competitor Village Roadshow's Gold Coast theme parks in the first half. The 4% drop in attendance was particularly disappointing. The coronial inqu...
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