Computershare sells US mortgage servicing business for $720 million
Computershare (ASX:CXU) has concluded that the US mortgage servicing business is not the gold mine that the company once thought.
Read MoreTag: CPU
CPU – UBS rates the stock as Buy
The Buy rating is retained and the target price increases to $28.00 from $27.00.
Read MoreCPU – Macquarie rates the stock as Outperform
Macquarie raises FY22 EPS forecasts 9.1% and FY23 EPS estimates 13.6%. Target price rises to $25 from $22. Outperform rating retained.
Read MoreTrading 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.
Read MoreCPU – UBS rates the stock as Buy
The rating is upgraded to Buy from Neutral and the target price increases to $22.50.
Read MoreCPU – UBS rates the stock as Neutral
UBS incorporates the Corporate Trust Services acquisition into its modelling. The broker retains a Neutral rating and raises the target to $16.25 from $15.00.
Read MoreInvestors Endorse Computershare US Expansion
CPU shares closed down 0.2% at $14.96 after the company came out of a trading halt that saw it raise $500 million toward buying Wells Fargo’s US Corporate Trust business.
Read MoreComputershare Hikes Long-Term Potential
Computershare will break into the US corporate trust industry with a substantial acquisition promising long-term earnings potential.
Read MoreCPU – Morgans rates the stock as Add
Morgans assesses the acquisition of Wells Fargo’s Corporate Trust Services (WFCT) business positively as it makes strategic sense and appears highly accretive. Morgans raises the price target to $17.10 from $16.20. The Add rating is unchanged.
Read MoreComputershare Holds out Hat for Wells Fargo Deal
Shareholders in Computershare will be asked to pay most of the $US750 million ($A970 million) cost of buying Wells Fargo’s Corporate Trust Services (CTS) in the US.
Read MoreCPU – UBS rates the stock as Neutral
First half results were broadly in line with UBS estimates. The broker assesses growth in earnings per share is negative over the short term. Neutral retained with a target price of $15.
Read MoreRocky Road To Guidance For Computershare
Computershare’s first quarter update received mixed responses, with several issues required to pan out positively to achieve FY21 guidance.
Read MoreCPU – Credit Suisse rates the stock as Neutral
Computershare’s FY20 management earnings were slightly above Credit Suisse estimate and in-line with its lowered guidance.
Read MoreCPU – Morgans rates the stock as Add
Computershare has re-affirmed its FY20 guidance after a number of pandemic-led earnings downgrades with margin income guidance at US$180m.
Read MoreComputershare “Proving Robust” Amid Virus Downturn
Computershare shares jumped more than 4% yesterday on an encouraging update which saw the share processing and registry operator maintain guidance.
Read MoreCPU – Macquarie rates the stock as Underperform
Due to plunging interest rates, Computershare has downgraded FY20 management earnings guidance to “down around -15%” from a previous “down around -5%” but more importantly, the broker notes, downgraded FY21 margin income guidance by -47% on the basis that negative knock-on effects could manifest for US mortgage servicing and corporate actions through FY21.
Read MoreRate Cuts Force Computershare Into Downgrade
Global share registry and financial services company, Computershare has joined the growing list of companies forced to cut 2019-20 earnings guidance by the worsening economy (especially lower official interest rates) and the swelling uncertainty caused by the coronavirus.
Read MoreHeadwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreCPU – UBS rates the stock as Neutral
UBS assesses the company’s interest-rate leverage appears to have run its course. Earnings growth is now increasingly dependent on cost reductions and growth in mortgage services.
Read MoreComputershare’s $40m Writedown
The global share registry and financial services group Computershare (CPU) slipped a $40 million write-off out yesterday, and the shares took it in their stride, finishing 0.3% higher.
Read MoreProfits: ComputerShare Hit By Market Slide
The slump in global markets in the June quarter, as well as in Australia, has cut the number of takeovers, global and local floats and dropped sharemarket trading, so Computershare, the major share registry business was bound to be hurt.
Read MoreCPU Sees Earnings Up 20%
Share registry group, Computershare, was another company to surprise on the upside in its earnings update yesterday, with news of a 20% rise which is now expected for the December half.
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