Graincorp Ltd
GNC Details
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Response to media speculations: Graincorp Ltd (ASX: GNC) stock fell over 5.7% on July 27, 2016 following their update on media speculation related to the process being conducted with regards to the Archer Daniels Midland’s (ADM) stake in the group. The group reported that they have no data related to this information and intends to not comment on this. Moreover, the shares of Graincorp are trading at a very unreasonable P/E with a very low dividend yield.
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Recommendation: We give an “Expensive” recommendation on the stock at the current price of $8.15
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Business units’ performance (Source: Company Reports)
Asaleo Care Ltd
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AHY Details
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Weak forecasts: Asaleo Care Ltd (ASX: AHY) stock continued to fall over 5.8% on July 27, 2016. The group lately reported a weak preliminary first half of 2016 results with revenue drop of 4.3% and underlying NPAT drop of 16.6%, and accordingly forecasted a weak fiscal year of 2016 results. The group delivered a declined sales revenue in the consumer tissue and personal care businesses on the back of rising discounting by competitors and growing trade spend to support the group’s market share. Moreover, rising pulp costs on the back of weaker Australian and New Zealand dollar as compared to the same period of last year led to the weak performance in the first half.
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Recommendation: We give a “Hold” recommendation on the stock at the current price of $1.39
iCar Asia Ltd
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ICQ Details
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Lower than estimated performance drove the stock lower: iCar Asia Ltd (ASX: ICQ) stock fell over 8.7% on July 27, 2016 as the investors were disappointed with the June quarter performance. On the other hand, ICQ delivered a 45% rise on a yoy basis in cash collections for the June quarter, leading to a total of over A$1.903 million. The company witnessed a decline of 8% on a quarter-on-quarter basis. The year on year rise was on the back of rising demand in Thailand and Indonesian business due to major seasonal car buying period. Consequently, net operating cash outflow for the quarter was A$3.02m, 7% favorable to the same period in 2015. The group has A$13.03 million in cash and cash equivalents.
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Recommendation: We give a “Speculative Buy” on the stock at the current price of $0.685
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Collections (Source: Company Reports)
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