MIRA Wastes No Time in Calling Bingo
Bingo said the shareholders of Sydney waste merchant, Bingo Industries as it finally said ‘yes’ to a bid from Macquarie Infrastructure and Real Assets and its managed funds for $2.3 billion.
Read MoreTag: BIN
COVID No Game for Bingo
Bingo Industries has cut interim dividend after revealing a 41% slide in statutory net profit after tax (NPAT) to $15.8 million for the six months to the end of December.
Read MoreBIN – Morgans rates the stock as Hold
Bingo Industries has received a takeover offer from CPE Capital. Morgans lifts the target price to $3.50 to align with the indicative offer price. The Hold rating is maintained.
Read MoreBIN – Credit Suisse rates the stock as Upgrade to Outperform
CS believes Bingo Industries has the potential to generate $231m in operating income by FY23 and based on the FY23 forecast, the fundamental value of the stock could be over $4 per share. Rating is upgraded to Outperform from Neutral with the target rising to $3 from $2.40.
Read MoreCash Bid Values Bingo at $A2.29bn
Bingo Industries confirmed it has received a $3.50 per share cash-based takeover offer from funds advised by private equity group, CPE Capital, valuing the Sydney-based waste manager at $2.29 billion.
Read MoreBIN – UBS rates the stock as Buy
UBS expects a softening in residential and commercial construction will negatively affect waste volumes across Australia. Still, Bingo Industries should be resilient and could even benefit from increased infrastructure projects.
Read MoreBingo Backs Earnings Outlook Despite ACCC Investigation
Shares in waste removal group, Bingo Industries ended the day steady at $2.85 after it surprised with an update that revealed the Australian Competition and Consumer Commission was conducting an investigation into price adjustments made in July 2019 in the building and demolition waste sector in NSW.
Read More“Confident” Bingo Bounces On Solid Trading Update
Shares in Sydney-based waste management firm BINGO bounced strongly yesterday on a solid trading update.
Read MoreBIN – Macquarie rates the stock as Neutral
The company has sold Banksmeadow to a private equity group for $50m. The sale price was at the lower end of expectations, hence Macquarie suggests lower buyback capacity.
Read MoreBIN – UBS rates the stock as Buy
UBS finds the majority of the Sydney market has implemented larger-than-expected price increases, off the back of the Queensland landfill levy. The broker believes there is further upside available from recent price increases.
Read MoreBeaten Up Bingo Recovers Ground
On the face of it, the interim figures from Bingo Industries, the Sydney-based waste removal company do not explain last week’s explosive near 50% slump.
Read MoreBingo Brutally Dumped On Earnings Downgrade
Bingo Industries shares were punished yesterday, losing nearly 50% after the Sydney-based waste removal group downgraded its 2018-19 earnings guidance to be broadly in line with last year’s result.
Read MoreThe Season of Sustainability Reports
The annual report season is quickly followed by the annual sustainability report season and this year there seem to be more sustainability reports than usual.
Read MoreACCC Rubbishes Bingo, Dial-A-Dump Deal
Shares in waste removal group, Bingo Industries fell to their lowest levels for more than a year yesterday after the competition regulator, the Australian Competition and Consumer Commission raised serious doubts about the company’s proposed $578 million purchase of rival Sydney rubbish dumper, Dial-a-Dump.
Read More
