Stocks of the Hour: Lendlease, APA Group, Altech Batteries
A snapshot of the stocks on the move, featuring Lendlease (ASX:LLC), APA Group (ASX:APA) and Altech Batteries (ASX:ATC).
Read MoreTag: LLC
ACCC raises concerns over Lendlease’s $1.3 billion sale to Stockland and Supalai
Lendlease's (ASX:LLC) $1.3 billion "get out of jail" sale of its master-planned retirement villages to a joint venture between Stockland and Supalai is in trouble with the competition regulator. The ACCC has raised concerns about the deal.
Read MoreLendlease’s strategic shift amidst financial challenges
Lendlease (ASX:LLC) is taking a financial hit to extricate itself from low yields and loss-making overseas investments in construction, building, and other developments. The company will make impairments of up to $1.48 billion, writing down these offshore investments, signaling an end to its global ambitions.
Read MoreFinal thoughts for 2023: Trading strategies, Ridley Corp (ASX:RIC) and LendLease (ASX:LLC)
Fund Manager Chris Pedersen discusses housing affordability, supermarket shares and trading strategies. Chris also dives into two companies – Ridley Corp (ASX:RIC) and LendLease Group (ASX:LLC).
Read MoreLendlease to slash workforce by 10% in efforts to streamline operations
18 Jul 2023 – Shares of Lendlease, the renowned property group, tumbled just under 5% following the company's announcement to cut 10% of its global workforce, with the most significant reductions expected in offshore markets.
Read MoreTrading Tidbits: LLC, NCK, RWC
Here’s Monday’s key June 2022 half-year results, featuring the latest from developer Lendlease, retail chain Nick Scali and plumbing supplies group Reliance Worldwide.
Read MoreLLC – Credit Suisse rates the stock as Outperform
Outperform rating maintained. Target is reduced to $12.59 from $12.94.
Read MoreLendlease Ushers in New Era with Some Deck-Clearing
A new CEO usually means a new broom and ideas and a bit of a clean out after a company’s long-time chief moves elsewhere, and so it was for Lendlease in the six months to December.
Read MoreNew CEO Puts His Stamp on Lendlease
Lendlease will cut more jobs in a major shake-up of the company’s operations by the new CEO, Tony Lombardo that will also see its Australian property and construction businesses consolidated.
Read MoreProfit Briefs: BEN, SWM, CAR, LLC
With peak reporting season upon us, here are snippets from the results announced yesterday by Bendigo and Adelaide Bank, Seven West Media, Carsales.com, and Lendlease.
Read MoreLendlease Sails Services Unit Downstream
Another asset sale by Lendlease, as the company yesterday revealed it was offloading its services unit to Service Stream for $295 million in cash and $15 million in debt.
Read MoreLLC – Macquarie rates the stock as Neutral
Target is reduced to $11.47 from $12.99.
Read MoreLLC – Credit Suisse rates the stock as Outperform
Credit Suisse lowers the target price to $12.94 from $13.47 but continues to see long-term value for patient investors.
Read MoreLendLease Celebrates New Year with Profit Downgrade
LendLease was the first company for the new financial year to alter earnings guidance, announcing a sizeable downgrade a day after closing off its books for 2020-21.
Read MoreLend Lease Profit Falls 37%, Dividend Halved
Global construction and infrastructure giant Lend Lease has halved its interim distribution after reporting a 37% slide in earnings for the six months to December.
Read MoreWord of the Year – 2021?
Dion Hershan, Head of Australian Equities at Yarra Capital Management, looks at the opportunities that are emerging from a bleak 2020.
Read MoreLendlease Completes Engineering Arm Sale To Acciona
Property group Lendlease has finally sold its troubled engineering business to Acciona of Spain for $160 million. That’s $20 million less than the price announced last December.
Read MoreLend Lease Confirms Loss After “Disappointing” Year
Another company to follow previous downgraded guidance for the year to June (like BlueScope) was Lendlease which on Monday reported a $310 million full-year loss for the year to June.
Read MoreLLC – Credit Suisse rates the stock as Outperform
FY20 earnings are lower than Credit Suisse expected with a statutory loss of -$230-340m guided, including $370m of after-tax engineering separation costs.
Read MoreLendlease Warns On Looming Writedowns
Global developer and investor Lendlease has warned its loss for the 2020 year could blow out to as much as $340 million due to more write-downs on the engineering services business and asset values.
Read MoreLLC – UBS rates the stock as Upgrade to Buy from Neutral
Lendlease has raised up to $1.15bn. UBS assesses the proceeds will be used to strengthen the balance sheet and also allow the company to take a larger share in development pipeline/profits and acquire opportunistically.
Read MoreLend Lease Taps Investors For $1.15b
Diversified developer Lendlease is asking investors for $1.15 billion to shore up its balance sheet and protect its global pipeline of developments from the expanding ravages of the coronavirus pandemic.
Read MoreLLC – Credit Suisse rates the stock as Outperform
In examining the balance sheet and cash flow, Credit Suisse does not believe an equity raising is required at this stage.
Read MoreLLC – UBS rates the stock as Neutral
The outbreak of coronavirus has shifted the economic outlook and funding markets in a negative direction, UBS notes. The broker calculates Lendlease requires $150-200m in transaction earnings to reach FY20 consensus forecasts.
Read MoreLLC – Citi rates the stock as Buy
Lendlease has an agreement with Acciona for the purchase of its engineering business for $180m, less selling costs and working capital adjustments.
Read MoreLLC – Citi rates the stock as Buy
Citi believes Lendlease has the potential for a multi-year re-rating as it evolves into a global real estate developer and fund manager. Critical to this is the sale of the engineering & services business.
Read MoreLLC – UBS rates the stock as Downgrade to Neutral from Buy
UBS downgrades to Neutral from Buy, believing risks are now more balanced. The broker assesses the market is pricing in a solid outcome for the sale of the engineering & services business.
Read MoreLLC – Macquarie rates the stock as Outperform
Macquarie reviews the prospectus for the company’s proposed Singaporean REIT, which is expected to diversify funding options. Macquarie would expect Lendlease to vend in stakes from assets in the urban regeneration pipeline as they are developed.
Read MoreStock Specific Risks Can Create Tremendous Opportunities
The DNR Capital Australian Equities High Conviction Fund owns both James Hardie and Lend Lease in its portfolio as at August 2019.
Read MoreLLC – UBS rates the stock as Buy
FY19 development results, up 18%, were ahead of UBS estimates while construction, down -29%, was worse. Importantly, the company has announced no further provisions in engineering & services, noting the sales process is progressing.
Read MoreLend Lease Investors Cheer Engineering Sale
Lendlease Group shares jumped sharply yesterday on the news that the company is in the process of getting rid of its troubled engineering and services business.
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 MoreLLC – Credit Suisse rates the stock as Outperform
Credit Suisse notes press reports there is foreign interest in the company’s engineering & services business. China’s State Construction and Engineering Company is allegedly a front runner.
Read MoreEngineering Woes Weigh On LendLease
Construction firm LendLease Group says it is now looking to rid itself of its loss-making engineering and services business after reporting a 96.3% drop in first-half profit.
Read MoreRCR Set To Join Lendlease With Earnings Dowgrade
More problems in the engineering and contracting sector yesterday – RCR Tomlinson shares were suspended yesterday on fears about its earnings, while shareholders again sold off Lendlease shares for a second day.
Read MoreLendlease Downgraded On ‘Disappointing’ $350m Provision
More pain for shareholders in Lendlease today after the shock news Friday of $350 million of impairments in its engineering and services business saw a downgrade from a lead ratings agency.
Read MoreRetirement Sale Disappoints At LendLease
LendLease shares took a whacking yesterday for a downgrade, which wasn’t a downgrade and the sale of part of a key asset in a division that drew the ire of a leading analyst group.
Read MoreResidential Lifts Lend Lease
As suggested in its unfortunate ‘self-leak’ in early August, global construction and development giant Lendlease said full-year net profit climbed 9% to $758.6 million in the year to June.
Read MoreLendlease Leaks Results 3-Weeks Early
Lendlease will pay just over half its earnings out in dividends for the year to June 30.
Read MoreLend Lease Outlines New Investment Vehicle
Lendlease is looking at a 10% to 15% rise in 2016-17 profit, according to a brief profit update slipped out in the middle of a short statement about a new investment vehicle.
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