Market Murmurs: WOR, SHL, APA
The local earnings season rolled along Wednesday in a slightly happier environment for all concerned - here's what Worley Group, Sonic Healthcare and APA Group had to say.
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APA is a leading Australian energy infrastructure business.
We’ve been connecting Australian energy since 2000. From small beginnings we’ve become a top 50 ASX-listed company, employing 1,800 people, and owning and operating the largest interconnected gas transmission network across Australia.
We deliver smart, reliable and safe solutions through our deep industry knowledge and interconnected infrastructure.
The local earnings season rolled along Wednesday in a slightly happier environment for all concerned - here's what Worley Group, Sonic Healthcare and APA Group had to say.
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A busy news day for the ASX on Monday, with Woodside, AusNet, APA, Nick Scali, Huon Aquaculture and Smartgroup all making key announcements to the market. Here are the details.
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Infrastructure group APA has produced a rival, higher offer for utility AusNet valuing it at $10 billion, a day after the Canadian/US group Brookfield announced its $9.6 billion offer.
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UBS reduces EBITDA estimates by -4-5%, moderating assumptions amid higher corporate costs. Buy rating unchanged. Target is reduced to $10.50 from $11.20.
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APA Group has reported a 99 per cent drop in statutory profit in the year to June thanks to the $250 million write-down at the Orbost gas plant in Victoria, as well as other charges.
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Add rating. The target price is decreased to $10.53 from $10.59.
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Outperform maintained. Target is reduced to $10.40 from $10.50.
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Macquarie assesses any potential sale of Epuron would potentially be an attractive alternative to Tilt, to step change APA Group's renewable strategy. The Outperform rating and $10.17 target are unchanged.
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APA Group shares fell yesterday after revealing an $11.7 million first-half loss thanks to a $250 million non-cash impairment against the value of its Orbost gas plant in Victoria.
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APA Group's FY19 result met consensus and Credit Suisse forecasts and hit the top end of guidance. FY20 guidance missed the broker because of delayed project revenue and higher corporate costs.
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