Nine Entertainment (ASX:NEC) has become the latest addition to the growing list of companies reducing their dividends during this June 30 reporting season.
Read MoreAnalysts will be watching the Nine presentation at the Macquarie conference to see by how much Seven’s experience in weakening revenues shows up in its TV and newspapers.
Read MoreNine Entertainment will match rival Seven West Media in buying back up to 10% of its shares but also go one better by paying its shareholders a record dividend.
Read MoreUpdates from two of our major locally listed media groups, Seven West Media and Nine Entertainment, with both forecasting strong rises in earnings for the June full financial year.
Read MoreThe Buy rating and $3.90 target are unchanged.
Read MoreUBS retains a Buy rating and raises the target to $3.85 from $3.10.
Read MoreBuy rating and $3.10 target unchanged.
Read MoreNine Entertainment joined rival Seven West Media and regional operator Southern Cross in reporting a solid rise in earnings and a net profit after tax of $183 million for the year to June.
Read MoreNine Entertainment’s rating is upgraded to Buy from Neutral and the target is raised to $3.10 from $3.00.
Read MoreNine Entertainment Co has appointed Mike Sneesby – head of Stan and a former telecommunications executive – as the new CEO to replace the departing Hugh Marks from April 1.
Read MoreStrong rises in earnings and cost cuts in its key TV, publishing and Stan video streaming business, helped Nine Entertainment report a 79% rise in net earnings for the six months to December.
Read MoreShares in Nine Entertainment Co edged up 2.7% yesterday after the company produced a second trading update in just over a month.
Read MoreTwo days after revealing that his company was heading for a surprise 30% plus lift in operating earnings for the six months to December, Nine Entertainment Co, Hugh Marks quit on Saturday.
Read MoreThe annual meetings of Nine Entertainment and Seven West Media gave us very different pictures of current trading conditions at the start of the 2020-21 financial year – on the one hand Nine has found more revenue, cut costs and is now looking at a much better result for the six months to the end of December, forecasting profit rise of “around 30%, according to CEO Hugh Marks in an update.
Read MoreNine Entertainment has reacted to the impact of COVID-19 and the lockdowns and lower revenue and earnings with $702 million of impairments and a lower dividend.
Read MoreITV, the UK commercial free to air TV broadcaster has confirmed that it will drop its final dividend for2020 after revenue slumped sharply in the six months to June, sending pre-tax earnings down more than 90%.
Read MorePreliminary numbers for FY20 signal an EBITDA range of $390-410m. Credit Suisse considers this outcome reasonable. Net debt is also broadly consistent with expectations.
Read MoreITV, Britain’s main commercial TV broadcaster and production group has sent 800 staff – 15% of its workforce on leave as ad revenue tanks in the wake of lockdowns and social distancing rules designed to slow the spread of COVID-19 and bring it under control.
Read MoreStand by for a bailout of the Australian media sector. A decision on whether a recapitalisation will happen at oOh!media is due to be known today while shares of national radio and regional TV group, Southern Cross Media have collapsed.
Read MoreShares in troubled department store Myer plunged by more the 44% yesterday for no apparent reason.
Read MoreUnlike Seven though, Nine remains a profitable, viable business, but even so the media sector – from print to broadcast TV and radio, not to mention digital – is seeking a slide in spending.
Read MoreThe extent of the TV weakness, highlighted at the AGM, was greater than Credit Suisse expected. The company is now guiding to low single-digit growth in FY20 operating earnings (EBITDA). Growth is expected to be skewed to the second half.
Read MoreNine Entertainment shares were sold off after the company revealed a sharpish downgrade in first-half earnings because of the slump in TV and radio broadcasting.
Read MoreThe listed Australian media sector took a hammering yesterday when the best performed of the handful of companies – radio and regional TV operator, South Cross Austereo warned of a sharp slowdown in revenue in the first months of 2019-20.
Read MoreWhile Nine shares rose 2% to $1.77 in early trading on the news of the sale of ACM, Domain shares slid nearly 8% at one stage after it revealed a 13% slide in third-quarter property listings and a fall in revenue for the third quarter.
Read MoreThe Nine Entertainment takeover offer for Fairfax Media will complete shortly after a scheme of arrangement was yesterday approved by the Federal Court.
Read MoreFairfax Media and Nine Entertainment shares rose yesterday after Fairfax shareholders ignored a last minute attempt to destabilise the $2.8 billion deal by former Fairfax property executive, Anthony Catalano.
Read MoreThe Nine Entertainment takeover of Fairfax Media has been given the green light, but it won’t be happening as a $4 billion deal as many media reported yesterday and this morning – at least it will be around $3 billion.
Read MoreThe fall out from last Friday’s trading updates from Nine Entertainment and Fairfax Media ahead of the release of the documentation for their planned takeover deal continued to batter the media sector yesterday on the ASX.
Read MoreOops, there’s $800 million or so off the value of the proposed Nine Entertainment takeover of Fairfax Media after downbeat market updates from both companies on Friday (especially Nine) ahead of the release of documentation for the deal.
Read MoreA solid performance for Nine Entertainment Co in 2017-18 with the company lifting net full year profit by 27% in what will be its last profit as a standalone TV business ahead of the agreed takeover of Fairfax Media.
Read MoreNine Entertainment has cleared away from the rest of the media sector so far as revenue, profits and returns to shareholders are concerned.
Read MoreNine Entertainment reported a loss of nearly $330 million in one-offs charges (most were announced earlier in the year), the largest being a write-down on its television broadcast licences and provision to exit its Warner Bros contract.
Read MoreNine Entertainment (NEC) has joined its rival, Seven West Media (SWM) in forecasting continuing pressure in the TV advertising market for 2016-17. Nine’s annual shareholder meeting was told yesterday by CEO Hugh Marks that its metro free-to-air advertising revenue expected to suffer a low single-digit fall in the year to June 30, 2017.
Read MoreThe Nine Network has abandoned its takeover ambitions (at least for the time being) for Southern Cross Austereo. This morning it sold its 9.9% stake in Southern Cross for $1.54 a share. Seeing Nine paid $1.15 a share earlier in the year, that’s a nice profit of around $30 million before financing costs.
Read MoreWe saw contrasting 2015-16 results and outlooks for the next year from the Nine Network (NEC) and its new regional TV affiliate, Southern Cross Austero (SXL) yesterday.
Read MoreNine Entertainment shares slumped 20% yesterday after it revealed a sharp fall in March quarter revenues and all but said the 2015-16 profit would be lower.
Read MoreA weak interim result and a surprise new chairman stood out in yesterday’s interim report from Nine Entertainment Co (NEC). Investors liked the news and marked the shares up 5.1% to $1.525 as they preferred to focus on the positives of the move to promote former Federal treasurer, Peter Costello, to the chairmanship of the company.
Read MoreNo boost the Nine Entertainment Co (NEC) share price yesterday from the news that regional TV group, WIN and its billionaire boss, Bruce Gordon, had raided the Nine share register and picked up enough shares to become the TV group’s biggest shareholder.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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