Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BLACK DIAMOND GROUP LTD. We currently have 19 research reports from 1 professional analysts.
|27Mar17 13:26||MKW||Black Diamond Group Limited Announces Closing of $31.9 Million Bought Deal Equity Financing|
|22Mar17 21:11||MKW||Black Diamond Group Limited Announces March Dividend|
|10Mar17 22:17||MKW||Black Diamond Group Files Preliminary Short-form Prospectus for $29 Million Bought Deal Financing|
|06Mar17 21:08||MKW||Black Diamond Group Completes Strategic Acquisition|
|16Feb17 21:56||MKW||Black Diamond Group Limited Announces February Dividend|
|19Jan17 22:00||MKW||Black Diamond Group Limited Announces January Dividend and Launch of Dividend Reinvestment Plan|
|21Mar16 15:33||MKW||Black Diamond Announces Dividend Reduction to Preserve Financial Flexibility|
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Research reports on
BLACK DIAMOND GROUP LTD
BLACK DIAMOND GROUP LTD
2Q16 Results In Line as Utilization Offsets Weak Pricing
15 Aug 16
Black Diamond reported 2Q16 results that were in line with our estimates. Stronger-than-expected utilization for lodging beds offset a drastic drop in lodging revenue per bed rental day. The Company’s cost cutting efforts appear to be working as margins are likely to be much stronger than we had anticipated and which helps offset a material reduction in rental rates. Our 2017e EBITDAS is unchanged at $45 mm.
2Q16 RESULTS IN LINE AS UTILIZATION OFFSETS WEAK PRICING
11 Aug 16
Impact: Negative. We expect the stock to trade lower due to concerns about go forward lodging revenue per day which could cause downward revisions to 2017 estimates. Revenue per lodging day was $31, compared to $78 in the prior quarter and $89 in the same period in the prior year.
Announces $24.8 mm Bought Deal Financing Including Over-Allotment
07 Jul 16
BDI has entered into a bought deal financing to issue ~4.9 mm shares at $5.05/ share, a discount of 7% to yesterday’s closing price, for gross proceeds of $24.8 mm. The bought deal represents 11% of the outstanding share count. We believe the proceeds will be used to repay outstanding debt or used for acquisitions. We do not anticipate the funds will be used for growth capital in the Camps and Lodging division or Energy Services division given the oversupply of equipment in these service lines in the WCSB at this juncture. We have only made modest changes to our operational forecasts with this update. Our EPS falls by 3% in 2016e and 22% in 2017e.
Reports 1Q16 Results
04 May 16
Black Diamond reported 1Q16 EBITDAS of $17 mm, far ahead of our estimate of $12 mm. We had underestimated the amount of oilsands related revenue in 1Q16 due to our view of when certain camps would see occupancy decline. We have increased our 2016e EBITDAS to $50 mm from $42 mm to reflect 1Q16 estimates and slightly better margins in the Camps and Lodging segment. In 2017e, we have increased our EBITDAS forecast to $44 mm from $36 mm, to reflect a stabilization of utilization and pricing in 2017e relative to 2H16e. The Company has re-segmented its financial results, which we are now reflecting in our new model. As such, we do not have “prior” estimates for the segments.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
N+1 Singer - Xaar - 2016 results slightly ahead, reduced visibility in 2017
22 Mar 17
Xaar’s 2016 results were slightly ahead of our forecasts, showing a small decline in profit vs. the previous year. Sales grew by 3% to £96.2m, reflecting lower sales from ceramic tile printing, offset by strong growth from Packaging and licence income and an initial contribution from the Engineered Printing Solutions acquisition. Adjusted PBT reduced by 6% to £19.5m (N+1Se £18.7m). Xaar has made significant progress in terms of strategic development in 2016. Its growth drivers are broadening out and it remains focused on its target of £220m sales by 2020. However near term growth is dependent on new products and management has guided to a higher than normal H2 weighting and reduced visibility, which is likely to restrain the share price.
N+1 Singer - WYG - Mixed conclusion to FY17, reassuring FY18 outlook
23 Mar 17
WYG’s trading update highlights a frustrating conclusion to FY17 for the UK business, where profitability is expected to be below the prior year despite continued revenue growth. More positively, the performance of the international operations has been ahead of expectations for revenue and profit and the February order book remains a healthy £150m, consistent with the prior year end. Revised FY17 operating profit expectations are just under £9m, prompting a 14% reduction in our PBT forecast. The strength of the order book and pipeline mean than management expectations for FY18 are unchanged (we trim FY18 PBT by 3%) anticipating another year of very strong PBT growth (28% forecast for FY18 following 20% growth in FY17). We expect further details on trading with the prelims on 6th June and plan to introduce FY19 forecasts at that stage. The shares are trading on <12x FY17 P/E, falling to <10x FY18.
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.