from yesterday's Coppo Report at Bell Potter ...
BWX (Buy time?)
BWX {4.49 -0.16 -3.44%}
Result missed & it's never been the same..
I pushed as a SELL on 15th March (was $5.15) BUT If short I'd be looking to cover.. Not sure if they are a BUY yet .. but maybe for the true believers ??
- problem is when you trade on a 2018 PE of 28.4x you are expected to deliver a strong clean result – but when you don’t & guidance is now 10% below mkt, the mkt deals with you appropriately accordingly ..
- this is 2nd time they have downgrades expectations (Aug 2016 & Feb 2017) - mkt doesn't like that & hence that's why they have been hammered even harder this time..
- 1H18 EBITDA came in -18% below our forecast. Revenue up 79.2% but Sukin brand sales look a bit on the soft side, while the recent acquisitions contributed less than our forecast. EBITDA margin fell to 26% (down from 34.1% in 1H17).
- Outlook: Guidance of $42-46m for FY18e has been provided representing a 60-74% growth rate. This is below our current $48.7m forecast and will be impacted by a small degree by the discontinuation of its third part operations.
- OK if they can do this then the stocks slide looks over..
- EPS growth 2018, 2019 & 2020 is +23%, +23% & +22% PE 2018 of just 19.3x Yield 1.7ff -- so that may be why some have been buying down here..
- But you have to "trust" the numbers !!!!
- Forums
- ASX - By Stock
- BWX
- BWX On the way back up ^
BWX On the way back up ^, page-57
-
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)