Winners and Losers Among the Industrials
The pandemic and lockdowns continue to buffet companies such as Downer, EDI, CIMIC and Mirvac, as their December half or full year reports showed on Thursday.
Read MoreTag: CIM
Improved Guidance for BlueScope on Steel Surge
The steel business continues to buoy the earnings of BlueScope, with higher demand on both sides of the Pacific – Australia and the US – leading to an increase in the company’s December half forecast.
Read MoreCIM – Credit Suisse rates the stock as Outperform
Credit Suisse upgrades to Outperform from Neutral and raises the target to $23.60 from $ 21.90.
Read MoreCIMIC Keeps Div Promise Despite Earnings Dip
Spanish-controlled contractor CIMIC has reinstated its interim dividend despite a dip in earnings for the six months to June, declaring it will pay a partially-franked 42 cents a share.
Read MoreWeak Cash Flow, Contracting Margins Send Cimic Shares Reeling
A disappointing full year result from Spanish-controlled contractor CIMIC Group saw the shares slump 17% at one stage before closing down 4.5% to $21.56.
Read MoreCIM – UBS rates the stock as Neutral
Cimic Group’s third-quarter sales, operating income and net profit figures were in-line with UBS’s estimate but the operating cash flow conversion, impacted by the slowdown of revenues and new work due to covid-19 and reduced debtor factoring, was weaker than expected.
Read MoreCIMIC Set To Slim Mining Exposure With 50% Sale Of Thiess
Spanish-controlled CIMIC Group (the former Leighton Holdings) has revealed it is on the verge of selling a 50% stake in its Thiess contracting business to the aggressive UK/US hedge fund, Elliott Advisors for an as yet unrevealed amount.
Read MoreCIM – Macquarie rates the stock as Neutral
Cimic reported a weak March quarter, down -8% year on year. Based on the broker’s run-rate to achieve FY20 forecasts, underpinned by 1-6% profit growth guidance, Cimic has fallen behind on the run-rate and the June quarter will bring the real impact.
Read MoreIs CIMIC Great Value, Or A Value Trap?
CIMIC Group (CIM) endured a challenging 2019. It was underlined by disappointing financial results, challenges in the Hong Kong construction business, concerns about cashflow performance and a substantial write-down of its Middle East business. Has the resultant share price fall provided us with a great chance to pick up CIM at cheap levels? Or is buying it here a value trap?
Read MoreCIM – Credit Suisse rates the stock as Outperform
2019 underlying net profit was in line with guidance and expectations. This includes the previously-announced loss related to the exit of the BICC business in the Middle East.
Read MoreCIMIC Slumps On Middle East Write-Off
Shares in construction and contracting group, CIMIC (The old Leighton Holdings) took a hammering yesterday (like those of Downer EDI did) after it revealed a big clean up and review of its businesses that will see it take a $1.8 billion dollar post-tax impairment on a Middle Eastern company.
Read MoreCIM – Macquarie rates the stock as Upgrade to Neutral from Underperform
First-half net profit was below expectations. Mining division strength stood out, delivering 26% growth in pre-tax profit. Operating cash flow was well below expectations. The company has indicated it is moving to alliance-style, rather than fixed-price, contracts which have a more even cash flow profile.
Read MoreCIMIC Misses Infrastructure Boom
Shares in Spanish controlled CIMIC (the old Leighton holdings) slumped more than 21% yesterday in the wake of a soft half-year result.
Read MoreEast Coast Infrastructure: Worst Boom Ever?
While many listed companies have rolled out charts showing a mountain of work available, the infrastructure boom may not be the gift to Australian contractors the market is assuming.
Read MoreCIM – Deutsche Bank rates the stock as Hold
Management has confirmed FY19 guidance for net profit of $790-840m. The company achieved 5% net profit growth in the first quarter, in line with the implied guidance range of 1-8%.
Read MoreCIM – Macquarie rates the stock as Downgrade to Neutral from Outperform
Macquarie downgrades to Neutral from Outperform as the stock is now trading close to its target. The broker believes the share price has also caught up with the traditional correlation to earnings. Target is raised to $50.90 from $50.26.
Read MoreCimic Ups Dividend On Strong First Half
Spanish-controlled constructor and contract miner CIMIC (the old Leighton Holdings) has rewarded shareholders for a second period with a 25% increase in interim dividends as revenues grew in all of its core businesses lifting half year profit by 22%.
Read MoreCIMIC Dumped After H1 Results
When the half year results for contractor and engineering group CIMIC (the old Leighton Holdings) were slipped out on Tuesday night, well after trading had closed, they looked odd – a small rise in profit on a 30% plus plunge in revenue.
Read MoreCIMIC Launches $750 Million Buyback
Spanish company ACS, the biggest shareholder in CIMIC (CIM), formerly the troubled construction contractor Leighton Holdings, will tighten its already strong grip on the company via a 10% buyback, revealed yesterday in a statement to the ASX.
Read MoreDieting Leighton Selling Assets
Trading in Leighton Holdings (LEI) shares will resume today after the company finalised the joint venture sale of half of its services business.
Read MoreFinancial Strains At Leighton
Leighton Holdings (LEI) looks like a massive restructuring, with writedowns, losses as well as asset impairments.
Read MoreLeighton Snaffled By A Revamped Bid
Senior management changes at three leading companies yesterday including The Reject Shop (TRS), Telstra (TLS) and Leighton Holdings (LEI) where the Spanish coup is all but a done deal.
Read MoreLeighton Surge Confirmed By Hochtief Partial Bid
Is it about time ASIC took the gloves off and gave someone in the market a big whack?
Read MoreLeighton Holdings Building On Growth
Construction firm Leighton Holdings (LEI) posted a stronger than expected full year profit today.Net profit for 2013 increased by 13% to $509 million and underlying profit beat market expectations rising 30% to $584 million.
Read MoreLeighton Slammed By Corruption Claims
Shares in Leighton Holdings (LEI) plunged more than 10% or around $2 yesterday in the wake of the bribery and corruption allegations published in Fairfax Media newspapers.
Read MoreLeighton Off Negative Watch
Limited relief for Leighton Holdings, the German-Spanish controlled construction giant which seems to be re-emerging slowly from the management and operational turmoil of the last two to three years.
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