Webjet Sale Tale Sends Shares Soaring
We are approaching the silly season - the long Christmas-New Year break which will be dominated by cricket, tennis, surfing, bushfires, smoke, ham and turkey and headaches.
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News
Webjet Shakes Off Thomas Cook Collapse
Webjet shares have shaken off the unease in the wake of the problems with the collapse of the Thomas Cook travel company in the UK in August.
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Time To Buy Shares In Webjet?
Webjet (ASX:WEB) recently released their full year results and they contained some disappointing aspects. This contributed to the weakness in the share price post results release. After tumbling from $17 to $11, there could be an opportunity here.
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Travel Agents Fear Fallout As Thomas Cook Collapses
The collapse of UK travel company, Thomas Cook after 178 years in business will leave an impact across every part of the global holiday and business travel businesses, with costs estimated to easily top $A2 billion.
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Webjet Caught Out By Thomas Cook Collapse
Shares in listed online travel retailer Webjet ended down 3.5% yesterday after a slide on the back of surprise news that the company had been caught short with the failure of UK travel business, Thomas Cook.
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Analyst Views
WEB – Credit Suisse rates the stock as Neutral
FY20 operating earnings (EBITDA) are expected to be between $157-167m with the first half registering at least $80m. Credit Suisse revises up estimates for earnings per share by 4.4%.
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WEB – Morgan Stanley rates the stock as Equal-weight
Morgan Stanley reduces estimates for operating earnings (EBITDA) by -6-7% for FY20. This reflects adjustments for Thomas Cook and Amoma, both having permanently ceased operations. The broker notes a significant hit in terms of receivables, which will be written down to zero.
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WEB – Credit Suisse rates the stock as Downgrade to Neutral from Outperform
Credit Suisse is concerned about the worrying trend of earnings downgrades. The Thomas Cook receivables exposure is two-thirds of B2B FY19 earnings and a reminder of the credit risk in B2B.
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WEB – Morgans rates the stock as Hold
Webjet expects the collapse of Thomas Cook will reduce FY20 operating earnings (EBITDA) by up to -$7m. Thomas Cook also owes Webjet EUR27m in unpaid receivables.
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WEB – Morgan Stanley rates the stock as Equal-weight
Morgan Stanley reduces B2B forecasts for FY20 by -18%. After a softer performance from JacTravel and earnings downgrades at Thomas Cook, which resulted in a decline in the share price of over -70%, the broker envisages downside risk to previous numbers.
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