Corporate Travel Management (ASX:CTD) shared strong progress in a market update released today ahead of the company's Annual General Meeting. The report indicates gains in the company's primary markets and effective cost management strategies.
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Corporate Travel Management (ASX:CTD) appears to have been stingy in setting its final and full-year dividend for 2023-24. However, a larger buyback for the coming year should help mitigate shareholder disappointment, as evidenced by the initial share price decline post-results.
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Fund Manager Chris Pedersen discusses Tuesday's RBA update, exports and imports, Corporate Travel Management and Kogan.com.
Read MoreThe Outperform rating is retained and the target price decreases to $25.80 from $26.70.
Read MoreAfter a strong run for Corporate Travel Management’s share price, Citi downgrades its rating to Neutral from Buy. The target falls to $25.49 from $28.05.
Read MoreThe broker maintains that Corporate Travel Management remains one of the best performing travel stocks. The Buy rating and target price of $28.20 are retained.
Read MoreMorgans target price rises to $29 from $27.36. The Add rating is unchanged.
Read MoreForecasts and the Add rating are left unchanged and the target price to $$27.36 from $25.25.
Read MoreMacquarie upgrades to Outperform from Neutral. Target is raised to $20.75 from $20.05.
Read MoreBuy rating retained. Target rises to $22.00 from $21.10.
Read MoreTwo updates yesterday from mid-level operators Helloworld and Corporate Travel Management suggest a rising degree of optimism about the future for the travel industry.
Read MoreMorgans has resumed coverage of Corporate Travel Management. To avoid confusion for our readers, prior to a blackout period of coverage the broker rated the company as a Hold with a $14.20 price target. Given the hiatus in coverage, FNArena will consider this update as a pseudo initiation of coverage, with an Add rating and target price of $20.50.
Read MoreCorporate Travel Management has raised the $375 million needed to finance the purchase of US firm Travel & Transport Inc. CTM will acquire 100% of Omaha-based Travel & Transport for a cash and debt-free enterprise value of about $US200 million (around $A283 million).
Read MoreThe crisis in the travel and aviation sector worsened yesterday with the Federal government banning all foreigners from entering Australia from midnight tonight and again told Australians returning from overseas that they will have to undergo 14 days of quarantine.
Read MoreThe company has suspended guidance. Costs are being managed, which includes staff leave, shorter working weeks and reductions in discretionary expenditure.
Read MoreThe company has suspended guidance. Costs are being managed, which includes staff leave, shorter working weeks and reductions in discretionary expenditure.
Read MoreWith an increasing number of activist short selling campaigns targeting stocks perceived as overvalued, nervous directors will be asking ‘who’s next?’
Read MoreTrade wars, Brexit and the Hong Kong protests made for a particularly tough first half for Corporate Travel Management, but there are signs of life returning in the second half. The company has reiterated FY guidance and Morgans assumes modest first-half earnings growth followed by double-digit growth in the second half as macro headwinds gradually ease.
Read MoreTrading in the second quarter appears to have improved while the company has reiterated FY20 guidance for 10-16.5% growth in operating earnings.
Read MoreThe collapse of UK travel company, Thomas Cook after 178 years in business will leave an impact across every part of the global holiday and business travel businesses, with costs estimated to easily top $A2 billion.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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