Ozforex Group Ltd
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OFX Details
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Higher valuations: Ozforex Group Ltd (ASX: OFX) plunged over 5.7% on June 03, 2016 despite there is no specific news from the group. OFX reported a net operating income rise by 15% on FY15 to $103.9 million and exceeded $100 million for the first time. Underlying EBTDA reached $36.1, which is a rise by 5% on FY15. Statutory EPS reached 9.09 per share and delivered a fully franked final dividend of 3.1 cents per share. However, the group expects a lower EBITDA margin in 1H17 while margins are expected to recover by second half of 2017. Moreover, the recent rally in the stock placed OFX at a higher P/E.
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Recommendation: We give an “Expensive” recommendation on the stock at the current price of $2.14
Client Metrics reflecting customer base (Source: Company Reports)
Treasury Wine Estates Ltd
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TWE Details
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Sold winery: Treasury Wine Estates Ltd (ASX: TWE) stock fell about 0.77% on June 03, 2016 on reports of the group’s sale of its 31.68 hectare site, including a winery, distribution plant and 6 hectare vineyard, in Waimauku to Sutton Group Holdings for an unrevealed sum. There is also news of the group restructuring its winery assets in California following the sale of the Paicines winery and many small vineyards, and expanding production at the Beringer winery on the back of its $34 million in cost savings in its United States business.
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Recommendation: TWE is trading at unreasonable valuations with a relative high P/E and has a low dividend yield. We give an “Expensive” recommendation on the stock at the current price of $10.20
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