Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Morningstar Equities Research - CEN-NZ, FXJ, DWS, MYR

Morningstar Equities Research - CEN-NZ, FXJ, DWS, MYR

Contact Energy Limited CEN-NZ| Strong first half expected
Morningstar Recommendation: Hold

Contact Energy is due to report its first half fiscal 2013 results on February 18. The firm recently released its operating statistics for December 2012 and the first half. The electricity division is projected to deliver 10.5% growth in earnings before interest and tax (EBITDA) to NZD 231 million for the first half driving overall EBITDA by 9.5% to NZD 252.7 million. The increase in electricity earnings is largely drive by lower cost as a result of a decline in wholesale electricity prices and lower generation cost, partly offset by a fall in spot electricity prices and lower output. We expect the LPG and meter businesses to perform in line with last year. Despite a strong first half, we maintain our full year EBITDA and NPAT of NZD 531 million (up 5%) and NZD 184 million (up 5%) respectively, as we expect growth to moderate in second half fiscal 2013. We also maintain our narrow moat rating on the stock reflecting the company’s significant nation wide market share its integrated business model and consolidated industry structure. Our fair value remains unchanged at NZD 5.50 per share.

DWS - Downgrade due to price change.

Fairfax Media - Upgrade due to price change.

Myer Holdings - Upgrade due to price change.

http://img.scoop.co.nz/media/pdfs/1302/Morningstar_Equities_Research_050213.pdf

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Drones: First Certificate Issued Under New UAV Rules

Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say the first certified flight of an unmanned helicopter under new aviation rules is a great example of how they can enable commercial use. More>>

ALSO:

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news