Good And Bad News For Value Investors
Despite the prevalence of bad news stories and a sea of red across stock screens, Perpetual's Anthony Aboud argues it’s not all bad news.
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Mcmillan Shakespeare Limited
The McMillan Shakespeare Group is a trusted, market-leading provider of salary packaging, novated leasing, asset management and related financial products and services. Through its subsidiaries, it offers a breadth of services and expertise, designed to responsibly deliver superior long-term value to its customers. The Group employs a highly committed team of over 1,300 people across Australia, New Zealand and the United Kingdom and domestically manages programs for some of the largest public, private and charitable organisations.
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News
Warning Bells: Estia Health, McMillan Shakespeare, Boral
A bit of truth-telling ahead of the long Christmas break with more pain at Boral while Estia Health has warned that it now expects lower earnings for the 2019-20 financial year as has salary packaging and car leasing group, McMillan Shakespeare.
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McMillan Shakespeare Packages New Downgrade
McMillan Shakespeare (MMS) fell more than 7% at one stage yesterday after it became the latest company to downgrade earnings.
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Eclipx Fights For Survival As McMillan Walks Away From Merger
Investors reckon Eclipx Group, fleet management, and online auctions group, is a looming basket case and may not survive judging by the 56% plunge in the shares yesterday afternoon.
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Eclipx Downgrade Threatens McMillan Merger
The $2 billion merger between salary packaging and finance groups Eclipx and McMillan Shakespeare is in danger of collapse after Eclipx produced a surprise profit warning yesterday.
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Analyst Views
MMS – Credit Suisse rates the stock as Outperform
McMillan Shakespeare's latest update cites higher recovery in novated lease sales and growth in Plan Partners as reasons for experiencing better than expected conditions. The outlook for FY22 is positive, suggests Credit Suisse. Outperform with target rising to $14 from $12.85.
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MMS – Credit Suisse rates the stock as Outperform
Credit Suisse believes the company needs a payback on its investments. FY19 earnings guidance was reduced to net profit of $87-89m recently and the company has acknowledged a challenging June quarter.
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