Bapcor faces dividend dilemma
Automotive parts retailer and wholesaler, Bapcor (ASX:BAP), might struggle to maintain its interim dividend at 10.5 cents a share if its weak update for the half-year to December turns out to be accurate.
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Bapcor Limited
Bapcor Limited is Australasia’s leading provider of automotive aftermarket parts, accessories, automotive equipment and services.
Bapcor’s core business is the automotive aftermarket. Our businesses span the end-to-end aftermarket supply chain covering Trade, Specialist Wholesale, Retail and Service.
Our Trade businesses include Burson Auto Parts, Precision Automotive Equipment and BNT, and house amongst the widest range of car parts in the world for thousands of vehicle makes and models.
The Specialist Wholesale segment supplies the automotive aftermarket with an extensive range of products through businesses which are industry leaders in their product categories. Bapcor’s Specialist Wholesale businesses include AAD, Bearing Wholesalers, Baxters, MTQ, Roadsafe, JAS Oceania, HCB, Diesel Distributors, Federal Batteries, Premier Auto Trade, AADi and many more. Recently, Bapcor has added the Commercial Truck Parts Group which provides parts for light commercial trucks.
Retail and Service businesses include Autobarn, Australia’s premium retail offering, independents Autopro, Sprint Auto Parts, Opposite Lock and Car Parts, and Service businesses Midas, ABS, Shock Shop and Battery Town.
Bapcor takes pride in developing our specialist and knowledgeable team, culture and capability, coupled with an unrelenting focus on excellence in customer service. Bapcor employs over 4,500 team members in more than 950 locations across Australia, New Zealand and Thailand.
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News
Bapcor faces tough start
Bapcor (ASX:BAP), the auto parts retailer and wholesaler, is grappling with a challenging beginning to the 2023-24 fiscal year due to a slowdown in consumer demand, impacting its trading performance.
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Trading Tidbits: CPU, BAP
Differing fortunes for financial services group Computershare and car parts group Bapcor in Wednesday trade saw the former gain more than 11% and the latter lose almost as much.
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Bapcor Hires from Within for New CEO
A day before it releases its December half results, car parts group, Bapcor has revealed its new CEO in the shape of its chief financial officer.
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Bapcor Shifts CEO Exit into Overdrive
The departure of Bapcor CEO Darryl Abotomey has turned toxic and he is out the door with immediate effect rather than early next year, as originally planned.
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Analyst Views
BAP – Macquarie rates the stock as Outperform
Macquarie lifts its FY22 and FY23 EPS forecasts by 3% and raises its target price by the same percentage to $8.80 from $8.55.The Outperform rating is unchanged.
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BAP – Credit Suisse rates the stock as Outperform
Outperform rating is unchanged and the target is lowered to $9.20 from $9.25.
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BAP – Credit Suisse rates the stock as Outperform
Management's guidance for first half group revenue growth of at least 25% and profit (NPAT) of at least 50% is well ahead of Credit Suisse forecasts. The Outperform rating is maintained and the target reduced to $8.60 from $8.75.
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BAP – Citi rates the stock as Buy
Citi retains a Buy rating of Bapcor as the end of JobKeeper is likely to have a limited impact on profitability, unlike other discretionary retailers eligible for the scheme.
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BAP – Macquarie rates the stock as Outperform
FY20 guidance has been reinstated with net profit expected to be $84-88m. Trading in May and June has been very strong.
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