We prudently cut our FY19 and FY20 EBIT forecasts for Eddie Stobart Logistics (ESL) by 5% and 6% respectively post the H1 trading update highlighting solid revenue growth, but EBIT at the low end of management expectations and a 4% downward revision to the last reported adjusted EBIT. Despite this, our forecast FY19 EBIT margin remains at the top end of logistics peers and, even on our revised numbers, the stock is trading at a significant discount to peers, offering an attractive c 9% d
15 Jul 2019
Eddie Stobart Logistics - Forecasts reduced, material value upside remains
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Eddie Stobart Logistics - Forecasts reduced, material value upside remains
Logistics Development Group Plc (LDG:LON) | 11.2 0 0.0% | Mkt Cap: 58.5m
- Published:
15 Jul 2019 - Author:
-
Pages:
8
We prudently cut our FY19 and FY20 EBIT forecasts for Eddie Stobart Logistics (ESL) by 5% and 6% respectively post the H1 trading update highlighting solid revenue growth, but EBIT at the low end of management expectations and a 4% downward revision to the last reported adjusted EBIT. Despite this, our forecast FY19 EBIT margin remains at the top end of logistics peers and, even on our revised numbers, the stock is trading at a significant discount to peers, offering an attractive c 9% d