Resale Value Helps Eclipx Bottom Line
Despite a very modest 4.4% rise in revenue to $347 million, the continuing high level of second-hand car prices boosted earnings for car leasing group Eclipx in the six months to March.
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Eclipx Group Limited
Eclipx Group is an established leader in vehicle fleet leasing, fleet management and diversified financial services across Australia and New Zealand.
It offers consumers and businesses access to funding solutions including fleet leasing, novated leasing, vehicle sales, commercial equipment finance and consumer motor vehicle finance via its suite of brands and end-to-end technology.
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Eclipx Group Discuss Their Strategy Shift Driving Growth
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News
Eclipx On Route To Stellar Earnings
Despite the constraints created by a shortage of new cars, robust used car prices have ensured Eclipx can deliver substantial earnings growth.
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Eclipx Tamps Down Expectations Ahead of Result
Eclipx Group is trying to keep a lid on things ahead of their half year results which should be ahead of consensus because of the the boost given to used car valuations by the shortage of new cars.
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Eclipx Group Discuss Their Strategy Shift Driving Growth
Eclipx Group is an established leader in vehicle fleet leasing, fleet management, and diversified financial services in Australia and New Zealand. Share Cafe Managing Director Tim McGowen recently spoke with the company’s CEO Julian Russell.
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Eclipx Group Back In The Black
Vehicle leasing firm Eclipx Group has produced a first-half profit of $13.2 million, a big improvement from the impairment-driven $120.3 million loss in 2019 that forced the company into a ‘corporate cleansing diet’.
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Analyst Views
ECX – Credit Suisse rates the stock as Outperform
The Outperform rating is retained and the target price increases to $2.95 from $2.90.
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ECX – Macquarie rates the stock as Outperform
The Outperform rating and $2.82 target price are retained for Eclipx Group.
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ECX – Credit Suisse rates the stock as Outperform
Outperform retained. Target is raised to $2.40 from $2.05.
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ECX – Credit Suisse rates the stock as Outperform
Strong earnings growth in the core business was delivered in the second half, with Credit Suisse noting a combination of a lower interest burden through debt reduction and increased end-of-lease income.
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ECX – Credit Suisse rates the stock as Outperform
While the company has experienced a stable operating environment in the year to date the coronavirus outbreak implies some risk going forward.
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