Resale Value Helps Eclipx Bottom Line
Despite a very modest 4.4% rise in revenue to $347 million, the continuing high level of second-hand car prices boosted earnings for car leasing group Eclipx in the six months to March.
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ECX – Credit Suisse rates the stock as Outperform
The Outperform rating is retained and the target price increases to $2.95 from $2.90.
Read MoreECX – Macquarie rates the stock as Outperform
The Outperform rating and $2.82 target price are retained for Eclipx Group.
Read MoreECX – Credit Suisse rates the stock as Outperform
Outperform retained. Target is raised to $2.40 from $2.05.
Read MoreEclipx On Route To Stellar Earnings
Despite the constraints created by a shortage of new cars, robust used car prices have ensured Eclipx can deliver substantial earnings growth.
Read MoreEclipx Tamps Down Expectations Ahead of Result
Eclipx Group is trying to keep a lid on things ahead of their half year results which should be ahead of consensus because of the the boost given to used car valuations by the shortage of new cars.
Read MoreEclipx Group Discuss Their Strategy Shift Driving Growth
Eclipx Group is an established leader in vehicle fleet leasing, fleet management, and diversified financial services in Australia and New Zealand. Share Cafe Managing Director Tim McGowen recently spoke with the company’s CEO Julian Russell.
Read MoreECX – Credit Suisse rates the stock as Outperform
Strong earnings growth in the core business was delivered in the second half, with Credit Suisse noting a combination of a lower interest burden through debt reduction and increased end-of-lease income.
Read MoreEclipx Group Back In The Black
Vehicle leasing firm Eclipx Group has produced a first-half profit of $13.2 million, a big improvement from the impairment-driven $120.3 million loss in 2019 that forced the company into a ‘corporate cleansing diet’.
Read MoreECX – Credit Suisse rates the stock as Outperform
While the company has experienced a stable operating environment in the year to date the coronavirus outbreak implies some risk going forward.
Read MoreECX – UBS rates the stock as Buy
The FY19 result was complicated, as expected. Core business was in line with UBS estimates. The broker expects non-core business to be divested in FY20 and, post-restructuring, to have a neutral impact on FY20 operating earnings (EBITDA).
Read MoreECX – UBS rates the stock as Buy
UBS believes the company simplification and strategy update is well articulated, with a renewed focus on the core fleet and novated business. The cost base is expected to reduce materially by FY22.
Read MoreECX – UBS rates the stock as Buy
The company’s strategy update has revealed a level of detail and scope for cost reductions that are ahead of UBS estimates. No formal FY19 guidance was provided.
Read MoreECX – Citi rates the stock as Upgrade to Buy from Neutral
The company has announced the divestment of its commercial equipment finance business. As the core fleet & novated leasing has returned to a dominant position, and with just two further divestments in the pipeline (Right2Drive and consumer), Citi upgrades to Buy from Neutral.
Read MoreECX – UBS rates the stock as Buy
The company will divest GraysOnline and AreYouSelling for $60m to Quadrant Private Equity. The transaction includes a distribution agreement, allowing EclipX to continue benefiting from utilisation of Grays automotive segment as a disposal channel.
Read MoreECX – Credit Suisse rates the stock as Upgrade to Outperform from Neutral
Credit Suisse believes a strong positive reaction in the share price to the first half result stems mainly from evidence that the underlying fleet and novated lease business is holding a relatively flat trajectory.
Read MoreEclipx Group Eyes Asset Sales As CEO Steps Down
Eclipx Group will take an impairment of up to $130 million for the six months to March 31 and changed chief executives as it tries to restore confidence among investors in the wake of the collapse of the merger with McMillan Shakespeare and a severe downturn in its business operations
Read MoreECX – UBS rates the stock as Resume Coverage with Buy
UBS resumes coverage after a period of restriction. The company has announced net profit for the first five months of FY19 was down -42.4% and has removed its FY19 guidance. The main drivers of the underperformance are Grays and Right2Drive.
Read MoreRestructure Restarts Eclipx Rollercoaster
The amazing sharemarket adventures of Eclipx continued yesterday. After losing more than 60% of their value last week after a weak trading update, the suspension of its dividends and calling off a marriage with rival McMillan Shakespeare, the shares lost another 12% at the start of the week but reversed yesterday to end up 22.8% at 70 cents.
Read MoreECX – Macquarie rates the stock as Outperform
The company’s trading update has signalled net profit is down -42.4%, seven weeks following an update which indicated FY19 should be in line with FY18. Weakness is particularly noted in February.
Read MoreEclipx Fights For Survival As McMillan Walks Away From Merger
Investors reckon Eclipx Group, fleet management, and online auctions group, is a looming basket case and may not survive judging by the 56% plunge in the shares yesterday afternoon.
Read MoreEclipx Downgrade Threatens McMillan Merger
The $2 billion merger between salary packaging and finance groups Eclipx and McMillan Shakespeare is in danger of collapse after Eclipx produced a surprise profit warning yesterday.
Read MoreGraysOffline As Eclipx Group Poleaxed
Shares in sales financing and fleet management firm Eclipx Group plunged more than 40% yesterday in response to a significant earnings downgrade slipped out late on Monday evening well after trading had closed for the session.
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