Two days before its investor day on Wednesday, GUD (ASX:GUD) stated that its expected underlying earnings are on track, though its dominant automotive operation will fall a little short due to weakness across the Tasman and in some parts of the sector in Australia.
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Fund Manager Chris Pedersen talks about where to look for growth, looks at ASX100 Aug winners and ASX100 Aug losers, and takes a look at AMP (ASX:AMP), Woodside (ASX:WDS) and GUD Holdings (ASX:GUD).
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GUD is set to become a pure-play automotive products company after the $65 million sale of its pumps company, Davey Water Products, to Sydney-based Waterco.
Read MoreA couple of news items from Thursday’s ASX trading session, with GUD Holdings announcing a late profit downgrade and The Reject Shop filling a vacant key management role.
Read MoreThe Buy rating is retained and the target price increases to $14.40 from $13.80.
Read MoreThe Outperform rating is retained and the target price increases 4% to $16.40.
Read MoreThe target price of $4.10 is unchanged, despite the analyst increasing the estimated loss for FY22 to -$1.6bn from -$1.2bn. The broker is cautious on taking a more positive stance and retains its Underperform rating.
Read MoreSome follow-up news from Wednesday’s ASX session involving various stocks we’ve been watching of late, namely GUD Holdings, GrainCorp and Costa Group.
Read MoreCar parts maker GUD Holdings (ASX: GUD) will double its size with a $745 million cash and share deal to purchase AutoPacific Group (APG) from a private equity group.
Read MoreThe broker upgrades to Buy from Neutral, as this should be a tailwind once lockdown restrictions are lifted. The target price remains at $12.30.
Read MoreSome snippets from three companies that gave updates to the market on Wednesday: auto parts retailer GUD Holdings, BWP Trust (Bunnings), and mortgage insurer Genworth.
Read MoreGUD Holdings will acquire AMA Group’s ((AMA)) automotive components and accessories division (ACAD) for $70m, to be funded by an institutional placement and share purchase plan.
Read MoreGUD Holdings’ (unscheduled) trading update for the first quarter shows automotive sales up 16% despite the headwinds from Victoria and New Zealand. Credit Suisse observes this reflects strong end markets and restocking by key customers.
Read MoreSmall diversified manufacturer, GUD Holdings has more than halved its final payout to shareholders as earnings slumped for the year to June. The maker of Ryco oil filters and air filters, Goss fuel pumps and hoses, and Wesfil and Narva parts said revenue edged up 1% to $438 million “despite second half COVID‐19 volume impacts”.
Read MoreAs the broader Australian automotive aftermarket has recovered strongly after the easing of lockdown measures, Macquarie revises forecasts higher, although acknowledges a reinstatement of lockdown in Victoria emphasises the risks.
Read MoreUBS believes the company is well-positioned to withstand the disruptions from the pandemic over the course of 2020.
Read MoreGUD Holdings has successfully coupled cost reductions with price rises and reiterates guidance for modest earnings growth in FY20.
Read MoreShares in auto-parts and water-pump maker GUD Holdings fell another 4% yesterday on top of Friday’s near 5% slide in the wake of what was a fairly weak 2018-19 result and an equally unconvincing outlook for the new financial year.
Read MoreWeaker economic conditions and increased competition look like hampering automotive and water product distributor GUD Holdings in the year ahead.
Read MoreChannel checks of the auto market conducted by Credit Suisse suggest after-market growth is trending lower and competition is increasing among part suppliers
Read MoreInvestors punished diversified industrial, GUD yesterday, sending the shares down sharply (they were off over 12% at one stage) after it reported an interim result that fell a little short of expectations.
Read MoreGUD, the Sydney based diversified manufacturer lost a CEO yesterday, gained a replacement and settled on a $20 million dollar expansion into the aftermarket for car parts. The company announced yesterday that the CEO of the past five years, Jonathan Ling had resigned as CEO and will be leaving the Company at the end of September 2018.
Read MoreShares in Sydney-based GUD Holdings hit an all time high yesterday after it revealed a continuation of its move to go has deeper into the car parts business with a $20 million acquisition of Disc Brakes Australia Pty Ltd (or DBA).
Read MoreGUD Holdings has revealed a recovery in earnings for the six months to December 31, reporting a 61% improvement in profit to $28.4 million as it completed several years of restructuring.
Read MoreA second successive annual loss GUD Holdings after the sale of two businesses in the 2016-17 June year slashed $58.9 million from the company’s bottom line.
Read MoreIndustrial products supplier GUD Holdings has finally cleaned up the embarrassing $83 million mistake that was the 2010 takeover bid for storage company Dexion.
Read MoreShares in GUD Holdings (GUD) rose by close to 7% at one stage yesterday after investors concluded the company’s December 31 half year results were a bit better than expected and contained no unwelcome surprises, especially from its troubles Oates and Dexion divisions.
Read MoreShares in industrial products group, GUD Holdings eased 2.1% yesterday after more accounts cleaning and impairments saw it swing to a net loss in the 2015-16 financial year after writing down the value of its Dexion storage-systems business by $75.7 million.
Read MoreSydney-based GUD Holdings has moved to depart the small electrical appliances market in Australia after 20 years.
Read MoreShares in GUD Holdings (GUD) lost 10% yesterday after the Sydney-based consumer and industrial products company cut its full year earnings guidance after reporting unexpected losses from its Sunbeam appliances joint venture and in the fully-owned Dexion racking business in the December-half.
Read MoreGUD Holdings (GUD), the kitchen appliance to pumps, storage and water business has given shareholders a surprisingly upbeat outlook for 2015-16 after a solid rebound in earnings in the year to June and a higher final and full year dividend.
Read MoreThe market loved the better than expected interim results from GUD Holdings (GUD) as the company showed that the big slide in first half earnings a year ago was well behind it.
Read MoreShares in Sydney- based industrial and retail products group, GUD Holdings (GUD) suffered in yesterday’s weak trading as analysts caught up with the detail in Wednesday’s earnings release for the 23012-13 year which showed a 15% fall in underling profit.
Read MoreThe interim results from consumer and industrial products supplier GUD Holdings just about says it all insofar as current soft business and economic conditions are travelling.
Read MoreInvestors continue to like what they see in the full year result from GUD Holdings.
Read MoreDiversified manufacturer and importer GUD Holdings provided some reassurance for jittery investors yesterday.
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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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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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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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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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