Turning Around G8 Education
Steven Everett of Belvedere Share Managers shares his perceptions of the changes being made by new management at G8 Education.
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G8 Education Limited
G8 Education Limited (ASX:GEM) is a leading provider of quality care and education facilities across Australia and Singapore through a range of well-respected and recognised brands.
Our mission is to be Australasia’s leading provider of high quality developmental and educational child care services. We aim to achieve this through:
A portfolio of outstanding early childhood education brands
A focus on the importance of early childhood education
By making good centres great through focusing on outstanding early childhood education management
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News
Poised For Recovery? Ten Beaten Down Small Caps That Might Rock In 2019
With so many investment babies being thrown out with the murky bathwater, do opportunities abound for the fearless, especially given the market’s positive start to the year?
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Checking In On The Childcare Sector
The listed childcare sector has been popular with investors, but emerging oversupply and affordability issues mean that all is not well in the sandpit. The operators are banking on the government’s revised subsidy scheme to revive their fortunes.
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G8 Education Slammed On Earnings Forecast
Shares in G8 Education slid 23.1% to $3.40 after the childcare provider cut its projected earnings guidance for the year to December 31.
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G8 Education Lifts Dividend
And contrasting with Vocation’s self-inflicted woes, was the much awaited trading update from childcare operator (the other end of the education chain from Vocation, if you think about it) G8 Education (GEM) which told the ASX yesterday it will increase the quarterly dividend to be paid in January of next year and has told investors audited earnings for the financial year to 31 December are expected to exceed the average broker forecasts.
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Analyst Views
GEM – UBS rates the stock as Buy
The broker considers the valuation of G8 Education appealing on a relative basis and retains a Buy rating and $1.34 target.
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GEM – UBS rates the stock as Upgrade to Buy from Neutral
UBS believes the government decision to support the childcare industry makes sense. The $301m equity raising has dramatically improved the balance sheet and should support the business through a period of weak conditions, the broker assesses.
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GEM – Macquarie rates the stock as Outperform
The 2019 AGM update has indicated trading is in line with expectations. Occupancy has continued to build and management is confident in achieving the upper end of its target range.
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GEM – Deutsche Bank rates the stock as Downgrade to Sell from Hold
Deutsche Bank believes the business may be underperforming peers. The company's competitive position is a bigger driver of profitability than the macro environment.
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