Latest Content

Executive interview - Seneca Global Income & Growth Trust

executive-interview-seneca-global-income-amp-growth-trust-21-11-2019
  • 21 Nov 19
  • 0.00

Canacol Energy

Canacol Energy - Returning value to shareholders through dividend

Canacol Energy presented a 22% increase in natural gas production compared to Q219 following the achievement of one of its 2019 milestones – the Jobo to Cartagena 100mmscfd pipeline. 2019 is proving to be a transformational year for the company, with an increase in production to 215mmscfd and advanced negotiations to expand export capacity to 315mmscfd by the end of 2023. Given the forecast of stable free cash flows for the coming years, Canacol’s board of directors decided to declare a recurring quarterly dividend, starting in Q419 at US$7m. Our 2P + risked exploration NAV is in line with our previous note at C$6.35/share, a 1% decrease, reflecting a 4% decrease in our 2019 production estimate.

 View

  • 21 Nov 19
  • -
  • -

PDL BIOPHARMA

PDL BioPharma - Raising guidance

PDL BioPharma reported Q319 results with revenue of $44.2m, down 35% compared to Q318 mainly due to a $31.6m change in fair value in the Assertio royalty rights in that quarter. Importantly LENSAR revenues were $8.1m, up 22% compared to the prior year, mainly due to increased sales in Asia. Following these results, the company has increased guidance for 2019 for LENSAR from a range of $27–29m to over $29m and for cash royalties from a range of $60–65m to over $65m.

 View

  • 20 Nov 19
  • -
  • -

Executive interview - OTC Markets Group

executive-interview-otc-markets-group-20-11-2019
  • 20 Nov 19
  • 0.00

Focusrite

Focusrite - A warm tone

Focusrite has delivered strong FY19 results, highlighting improved revenue momentum with a favourable reception of new product releases, better-than-expected margin delivery and encouraging trading on its first major acquisition since IPO, ADAM Audio. We increase our underlying assumptions for FY20 to reflect the improved trading and gross margin benefits from a shift in sourcing, but forex translation (notably strengthening sterling versus the euro) tempers the upgrade to c 4% for FY20. Our DCF-based valuation increases to 618p from 544p.

 View

  • 20 Nov 19
  • -
  • -

Polypipe Group

Polypipe - Well-placed but revenue progress moderates

Approaching the year end, slower trading in certain sub-sectors causes us to trim our FY19 earnings estimates by 5% (with more modest adjustments thereafter). This does not change our view that the company is well placed by sector to benefit from some long-term structural drivers in the building materials space.

 View

  • 20 Nov 19
  • -
  • -
 

Edison Research and Daily Commentaries

Research Tree offers Edison research, providing ongoing coverage of 765 shares , as well as macro-economic categories including: Commodities - Metals & Mining. We offer 5288 reports from Edison on Research Tree.

  • Research reports provided by Edison

  • Companies covered by Edison

  • Sectors covered by Edison