Tag: CCP
Setbacks in US debt market weigh on Credit Corp outlook
At its AGM today, Credit Corp laid out a recovery-focused strategy after a turbulent year, marked by a 44% drop in net profit after tax to $50.7m and a reduction in shareholder dividends.
Read MoreCredit Corp plummets as US business faces impairment
Shares in Credit Corp (ASX:CCP) plunged on Wednesday as the company shocked the market with news of a write-down in the carrying value of its US debt ledger business.
Read MoreTrading Tidbits: TRS, CCP, NUF
While the overall market continued its strong start to 2023, the ongoing challenges were on full display in Wednesday’s updates from The Retail Shop, Credit Corp and Nufarm.
Read MoreCredit Corp Shares Hit on Flat Outlook
Tuesday’s 5.3% slide in Credit Corp shares to $23.02 told the company that talk of no growth in Australia / NZ and problems in the growing US market was unacceptable.
Read MoreCredit Not Such a Dirty Word After All
Shares in Credit Corp jumped 6% at one stage yesterday as investors enthusiastically greeted what was a solid interim result, higher dividend and upbeat outlook.
Read MoreCCP – Macquarie rates the stock as Outperform
The broker retains an Outperform rating and reduces the target to $33.10 from $34.80.
Read MoreSteady As She Goes for Credit Corp
Debt recovery group Credit Corp shares softened yesterday after the company forecast a 2021-22 performance not that much different to the 11% rise in net profit in the year to June.
Read MoreCCP Shares Surge on Strong Performance, Upbeat Guidance
Shares in debt collection and lending company Credit Corp rose strongly yesterday after the company did better than expected in the December half and revised its guidance upwards for the second time in three months.
Read MoreCCP – Morgans rates the stock as Add
Credit Corp’s first-quarter result was strong overall, according to Morgans, with strong cash collection and a rebound in lending demand.
Read MoreCredit Corp Shares Bounce On Clearer Outlook
Credit Corp shares bounced more than 11% yesterday after it confirmed its trading update two weeks ago. The shares ended up 8.7% at $18.39, losing ground in afternoon trading as investors noted the company confirming 2020-21 would be weaker than the June 30 underlying result.
Read MoreHigh Unemployment Hits Debt Collector Credit Corp
Debt collection firm Credit Corp says a pandemic-fuelled jump in bad debts – and other COVID-19 provisions – will weigh on full-year profit.
Read MoreCCP – Macquarie rates the stock as Outperform
After analysing comparative US purchase debt ledger data, the broker notes PDL pricing in Australia appears to be adjusting materially when US pricing has been slower to respond, and Wallet Wizard book contraction should be an earnings headwind.
Read MoreWhere Are The Opportunities In Australian Small-Caps?
Sam Twidale, Portfolio Manager for the DNR Capital Australian Emerging Companies Fund, explains why he believes recent volatility in equity markets has provided some excellent opportunities in the smaller cap sector.
Read MoreCredit Corp Is A Buy, But At The Right Level
Our recent assessment of Credit Corp’s (ASX:CCP) fundamentals, following the release of interim results confirmed that there are tailwinds for its three core segments
Read MoreCCP – Morgans rates the stock as Add
FY19 results were in line with expectations. Net profit guidance of $75-77m is below Morgans’ original forecasts but appears conservative. The broker expects FY20 will benefit from earnings uplift in the US and an increase of 16% in the consumer lending book as well as significantly lower debt.
Read MoreLow Rates Flatten Credit Corp Outlook
Credit Corp has undershot market expectations for FY19 and provided a less than convincing outlook for the current year as record low-interest rates reduce the financial pain for consumers.
Read MoreCCP – Morgans rates the stock as Add
The company has raised $125m via a placement and launched a share purchase plan to raise a further $10m. The debt facility has increased to $350m, providing $250m of funding capacity.
Read MoreCredit Corp Rebounds 28%
This year’s interim reporting season has further stirred an already volatile market.
Read MoreCredit Corp Shares Plummet On Downgrade
Shares in Credit Corp (CCP) took a 70% nose-dive this morning after the debt collection agency announced an earnings downgrade of up to 50% and the resignation of its chairman Christopher Deane.
Read MoreCredit Corp Nearly Halves After Forecast Cut
Shares in the debt management company, Credit Corp Group (CCP) plummeted as much as 47.1% to $5.60 after it downgraded its FY2008 financial net forecast by as much as 29%.
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