Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NATIXIS. We currently have 7 research reports from 1 professional analysts.
|15Feb17 06:58||GNW||NATIXIS :STATEMENT FEBRUARY 15, 2017|
|09Feb17 16:35||GNW||NATIXIS :FOURTH-QUARTER 2016 and FULL-YEAR 2016 RESULTS|
|09Dec16 13:44||GNW||NATIXIS :Number of shares and voting rights at 30 November 2016|
|09Nov16 14:47||GNW||NATIXIS :Number of shares and voting rights at October 31, 2016|
|08Nov16 16:35||GNW||NATIXIS :THIRD-QUARTER 2016 AND NINE-MONTH 2016 RESULTS|
|12Oct16 16:37||GNW||NATIXIS :Preparation of the Q3-2016 financial disclosures: CIB restated quarterly series|
|10Feb16 16:35||GNW||NATIXIS : FOURTH-QUARTER AND FULL YEAR 2015 RESULTS|
Frequency of research reports
Research reports on
Strong beat in terms of P&L; capital and dividend in line
09 Feb 17
Natixis has just released its Q4 16 earnings. Total revenues at €2.52bn were 6% higher than expectations (and 5% higher than our own expectations). Total expenses were therefore mechanically higher than expectations at €1.65bn (versus €1.57bn expected by the consensus and us). Loan losses at -€60m were also better than expected (-€80m as for the consensus). All in all, operating profit at €801m was 8% higher than expectations and 7% higher than our forecasts. The CET1 ratio at 10.8% (fully-loaded except for DTA which remains phased-in) is 20bp lower qoq (to the benefit of an (expected) €0.10 exceptional dividend). Total dividend at €0.35 is in line with expectations.
CIB again and again...
09 Nov 16
Natixis has just released its Q3 16 results. Total income is roughly in line with expectations at €1.92bn but 2.6% higher versus our own expectations (once adjusted for corporate centre revenues). Total expenses are, however, 2.1% above consensus expectations and 2% above our expectations. Loan losses at €69m are below consensus expectations (at €81m) and above our €58m forecasts. All in all, operating revenues at €408m are 2.5% short of expectations but 4% higher than our numbers. The CET1 ratio at 11.2% is 20bp higher qoq and 60bp higher versus Q4 15.
Mixed P&L results, capital generation going on
29 Jul 16
Natixis released its Q2 16 earnings. Total revenues are 4% higher than expectations. With costs 4% higher than consensus forecasts and total loan losses in line with expectations, the operating profit is 4% higher than expectations. CET1 ratio at 11% (after accrual dividend) is 20bp higher than Q1 16 and 225bp above the ratio required by regulators.
Earnings miss expectations on the back of higher expenses...
10 May 16
Natixis released its Q1 16 earnings this morning. Total revenues at €2.08bn are 0.5% short of expectations. Expenses were 2% higher than forecasts due to a higher contribution to the Single resolution fund and expenses in the CIB. Cost of risk at €88m, although higher than the Q1 15 number of €78m, is in line with expectations. Reported profit before tax at €407m (of which -€13m non-operating items) is therefore 8% lower than forecasts. The fully-loaded CET1 ratio (after payment of the dividend – a 50% pay-out ratio) is 20bp higher than in the last quarter at 9.9%.
Strong set of results
11 Feb 16
Natixis' Q4 15 earnings release: Strong results versus expectations as revenues are higher than expectations and the cost of risk much better than expected, profit before tax is 20% ahead of consensus. Natixis has just still proven its ability to create value for shareholders as the CET1 ratio is at 12.2% (phased-in and before dividends). The payout ratio is 50% and a €0.10ps dividend has been announced.
Capital back in shareholders' hands...
05 Nov 15
Natixis' Q3 earnings release was quite strong. Total revenues were a bit lower than expected (at €1,956m), 2% short of expectations. Total expenses were roughly in line with expectations and cost of risk a bit lower than expected. PBT is therefore roughly in line with expectations. CET1 ratio is 20bp higher than Q2 15 (11.2% vs 11%).
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
Industry fundamentals remain positive
21 Feb 17
The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
Middle Britain growth
21 Feb 17
The Company has achieved our 2017 estimate in 2016 with EBITDA of £2.2m, up 37% on 2015. We upgrade our estimates by 10% at the EBITDA level in 2017. If the shares traded even at the lower end of comparators, they would trade at 17p. We expect the share price to reach our upgraded 17p price target in the short term. Few companies enjoy the unique positioning which Lighthouse has to benefit from the assets of Middle Britain.
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume