GEM – UBS rates the stock as Buy
The broker considers the valuation of G8 Education appealing on a relative basis and retains a Buy rating and $1.34 target.
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G8 Education Limited (ASX:GEM) is a leading provider of quality care and education facilities across Australia and Singapore through a range of well-respected and recognised brands.
Our mission is to be Australasia’s leading provider of high quality developmental and educational child care services. We aim to achieve this through:
A portfolio of outstanding early childhood education brands
A focus on the importance of early childhood education
By making good centres great through focusing on outstanding early childhood education management
The broker considers the valuation of G8 Education appealing on a relative basis and retains a Buy rating and $1.34 target.
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UBS believes the government decision to support the childcare industry makes sense. The $301m equity raising has dramatically improved the balance sheet and should support the business through a period of weak conditions, the broker assesses.
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The 2019 AGM update has indicated trading is in line with expectations. Occupancy has continued to build and management is confident in achieving the upper end of its target range.
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Deutsche Bank believes the business may be underperforming peers. The company's competitive position is a bigger driver of profitability than the macro environment.
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2018 results were in line with guidance. Morgans observes occupancy in the year to date is up around 2% but excess supply continues to make for a challenging market.
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Steven Everett of Belvedere Share Managers shares his perceptions of the changes being made by new management at G8 Education.
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With so many investment babies being thrown out with the murky bathwater, do opportunities abound for the fearless, especially given the market’s positive start to the year?
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The listed childcare sector has been popular with investors, but emerging oversupply and affordability issues mean that all is not well in the sandpit. The operators are banking on the government’s revised subsidy scheme to revive their fortunes.
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Shares in G8 Education slid 23.1% to $3.40 after the childcare provider cut its projected earnings guidance for the year to December 31.
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