Orora’s strategic gamble pays off
Did Orora have ‘something’ up its sleeve when it sent Lone Star packing last month after ignoring the American investor's non-binding, airy A$2.55 per share first offer?
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Orora sells North American unit
Packaging group, Orora (ASX:ORA), has agreed to sell its North American packaging solutions business to Veritev, a private equity-backed rival, for $1.78 billion.
Read MoreOrora rejects Lone Star takeover bid
Shares in glassmaker and packaging group, Orora (ASX:ORA), were up more than 19 per cent in late morning trading after it confirmed and rejected a takeover approach from a US private equity bottom fisher.
Read MoreAnalysis of Orora, Mineral Resources, Generation Development Group
Fund Manager Chris Pedersen discusses Orora, Mineral Resources and Generation Development Group.
Read MoreReturn of doubts about Orora
A weak trading update, especially for its expensive French buy in late 2023, has seen the return of investor doubts about packaging group (and Amcor spin off a decade ago) Orora Ltd.
Read MoreOrora’s $2.16 billion deal to acquire French glass bottles maker Saverglass
Melbourne-based packaging company Orora (ASX:ORA) is set to raise over $1.3 billion from its shareholders in order to acquire Saverglass.
Read MoreORA – Credit Suisse rates the stock as Neutral
The company has signalled a seasonally lower profit is expected in the Americas in the June half. Neutral maintained. Target is $3.75.
Read MoreORA – UBS rates the stock as Neutral
The Neutral rating is retained and the target price increases to $3.80 from $3.65.
Read MoreORA – UBS rates the stock as Neutral
A turnaround in North America is considered key to any re-rating. Neutral maintained. Target rises to $3.65 from $2.90.
Read MoreORA – Morgans rates the stock as Hold
Orora’s first half result was comfortably ahead of Morgans expectations and the broker increases underlying earnings forecasts by between 1-2% for FY21-23. Hold rating and the target is increased to $3 from $2.61.
Read MoreOrora Surprises With Growth In North America
Orora has strengthened its packagingbusiness in North America in the first quarter, with earnings growth that surprised to the upside, while Australasia remains flat.
Read MoreOrora Shakes Off Virus To Package Better Outlook
Shares in packing group, Orora, surged more than 8% in one of the best days for the stock this year after the company said it had shaken off the impact of COVID that many investors had thought would threaten its core bottling operations.
Read MoreFibre Sale Papers Over Margin Pressures At Orora
Melbourne-based packaging business Orora (the rump of Amcor) will make another buyback of up to 10% at cost of $230 million in the wake of a solid full-year result for 2019-20. The buyback is the second from the company rewarding shareholders with the $1.55 billion profit from the sale of its Australian Fibre business in April.
Read MoreOrora Returns Packaging Business Sale Proceeds Back To Shareholders
Shares in Melbourne-based Orora rose sharply yesterday after shareholders approved the return of $600 million dollars from the proceeds of the sales of its fibre packaging business to a Japanese company in 2019.
Read MoreORA – Credit Suisse rates the stock as Outperform
The company expects to complete the sale of the fibre business by the end of the month. Credit Suisse now assumes $750m is distributed by way of a special dividend of $0.62. A $200m buyback is then expected in FY21.
Read MoreACCC Ticks Orora Fibre Sale To Nippon Paper
Shares in Melbourne-based packing group, Orora rose yesterday after the ACCC cleared the sale of Orora’s Fibre business to Japanese-owned Australian Paper.
Read MoreUS Weakness Weighs On Packaging Play Orora
First-half earnings dipped at Melbourne-based packaging solutions firm Orora as the company yesterday warned of challenging market conditions.
Read MoreORA – Macquarie rates the stock as No Rating
The company will sell its Australasian fibre business to Nippon Paper for $1.72bn. The transaction represents an FY19 adjusted operating earnings (EBITDA) multiple of 11.5x.
Read MoreOrora Soars On The Back Of Nippon Paper Sale
Back in August, shares in packaging group Orora fell 17% after revealing weak earnings for 2018-19 and a weak outlook. Yesterday, the company got most of that back when it revealed it had sold a part of its Australian operations to a Japanese company for a gross $1.7 billion, with news that most of the money will go back to shareholders in some sort of capital management.
Read MoreORA – Morgans rates the stock as Add
The company’s trading update was slightly weaker than Morgans expected. Orora has noted a slower start in 2019, primarily in North America. Challenging conditions are ongoing and the company is reviewing cost structures as appropriate.
Read MoreOrora Packages Solid Result
Shares in Amcor spin-off Orora jumped almost 9.2% to $2.98 yesterday following the release of the packaging company’s solid full-year results for 2016-17.
Read MoreOrora Lifts Profit 23.8%
Shares in packaging company, Orora (ORA) (a spin off from Amcor in 2013) jumped sharply yesterday after it surprised with very strong full year results with a 23.8% jump in underlying net profit after tax to $162.7 million for the year to June.
Read MoreUpbeat Orora Lifts Profit 25%
Amcor (AMC) packaging spin-off, Orora (ORA) continues to make headway in growing its businesses which were unwanted by its former parent.
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