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BXB, BRAMBLES LIMITED
nipper
post Posted: Mar 15 2019, 07:45 PM
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Posts: 5,484
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QUOTE
Brambles (ASX: BXB) specialises in sustainable logistics, operating the world’s largest pool of reusable pallets, crates and containers. The company announced the sale of its IFCO reusable plastic containers business for US$2.5 billion recently. This divestment will provide a significant cash return to shareholders and allow BXB to conduct an on-market buy-back and repay debt to maintain leverage in-line with the Board-approved credit policy.

BXB will pay 29 cents per share in addition to its 14.5 cents interim dividend, which will be paid on 11 April. BXB’s half-year results released on 18 February were in-line with our expectations, confirming our belief that the company had suffered from global economic uncertainty, which has since improved.

We believe the sale of IFCO is positive for BXB’s capital management strategy and balance sheet. We hold BXB as a market-driven investment in WAM Leaders.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 21 2017, 01:12 PM
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the optimist: CLSA — Upgraded to outperform from underperform (Price target $10.20)
"The share price now more reasonably reflects the medium-term outlook. Brambles management yesterday pulled back from what were aggressive and unachievable longer term growth targets. Having been negative on the name since April 2015, [CLSA] has upgraded his recommendation to outperform and will wait to get feedback from its US based contacts before getting more positive."

the pessimists:
DEUTSCHE BANK — Downgraded to hold from buy (Price target $10.45)
"We expect more clarity around the strategy the new CEO will employ going forward. "While the company has articulated that it is facing a number of headwinds, particularly in the USA, we didn't get a lot of answers as to what is happening."

MORGANS — Downgraded to hold from add (Price target $9.72)
"While BXB's 1H17 result overall was below our expectations, the outlook for flat earnings growth in FY17 was a lot weaker than we expected. "While we believe the long term fundamentals remain sound, BXB's short term challenges are likely to take longer to correct than we previously anticipated."

MACQUARIE — Downgraded to neutral from outperform (Price target $10.25)
"Our earnings changes have resulted in a 13 per cent decrease in our target price to $10.25, implying a one year forward price-to-earnings ratio of 19 times, versus an average of 19.7 times. "Given we now expect only modest 3 per cent growth in FY18 CC EBIT, we downgrade to neutral."



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: xw1  
 
xw1
post Posted: Feb 21 2017, 09:45 AM
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Brambles has blamed high levels of competition with a US rival pallet company called PECO for the downgrade in its annual earnings forecast yesterday which saw the shares slump 11% at one stage.
,,,,,,
Analysts said yesterday the weak result and downgraded return target means more pressure on new CEO, Graham Chipchase, who takes over from Gorman as CEO today (a week earlier than expected - a sign of the concern at board level at the problems).
......

Perhaps the shares were punished because Brambles wasn’t entirely straight with the information it released at its June 23 briefing and tried to cloud the real reason for the weak US performance.
...
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read between the line-------------- change CEO{ gonna wipe clean first for the new CEO as usual}
market dosen't like "second time down grade"... lmaosmiley.gif

wait few days if one wish to bargain hunt it. imho




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Elliott
post Posted: Feb 20 2017, 11:07 AM
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In Reply To: xw1's post @ Feb 20 2017, 09:42 AM

Perhaps more downside, but liking the good support around $9.00. Demand down there and it could be a good buying opportunity.

Still feasible to see a bullish 3-wave movement down which follows an exceptionally strong trend. We'll know soon enough.



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My posts are for discussion and educational value only. They are not to be construed as advice in any way.

Said 'Thanks' for this post: xw1  nipper  
 
xw1
post Posted: Feb 20 2017, 09:42 AM
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In Reply To: nipper's post @ Jan 23 2017, 12:17 PM

it warned market , but they won't listen.
now market get reality check lmaosmiley.gif down over 8% so far, looks like more down days to come.




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nipper
post Posted: Jan 23 2017, 12:17 PM
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down 15%

QUOTE
Brambles chief executive Tom Gorman said he was "embarrassed" by this morning's profit warning, which comes only a month before his departure from the company .... "Walking away from something I thought we could deliver is embarrassing,'' Mr Gorman told analysts.

The pallet pooling group's share price slide comes after chief executive he warned that its customers in the fast moving consumer goods (FMCG) sector were taking longer to commit to new contracts, which had hit revenues and profits.

The company warned this morning that underlying profit growth for fiscal 2017 in constant currency would miss its guidance of 9 per cent to 11 per cent amid widespread destocking by US retailers during the month of December. Profit growth was just 3 per cent in the first half. It also said annual sales growth will miss its guidance of 7 per cent to 9 per cent growth after growing only 5 per cent during the first half.

Mr Gorman said the impact of retailer destocking was most significant at the back end of December.

"These are market events that we simply did not anticipate . . . When we see destocking, that means that forward expectations for demand are declining,'' he told analysts this morning.

He also said the company had seen deferral of potential customer conversions to pooling in North America and pricing pressure across its recycled pallet operations. Mr Gorman will step aside next month to be replaced by former UK executive Graham Chipchase, and said this morning that "this could not come at a worse possible time for me personally.''

"We have been given guidance since 2011. The market is comfortable with us meeting that guidance... We have been as candid and direct with the market as we can be,'' he said. "Some of the costs that occurred in the period are not going to be recovered in the full year... We are not going to get back the money spent in the second quarter of the first half.''






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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batikit
post Posted: Apr 24 2015, 10:42 PM
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not many time BXB rsi can get to low 30's

in the past 2 years it only got there twice

yesterday it reached there again and bounced off that low today

worth a punt.....
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nipper
post Posted: Jul 2 2013, 10:47 AM
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Pallet supplier Brambles is hiving off its underperforming data management business Recall into a separate listed company. Brambles shareholders will receive new shares in Recall Holdings proportionate to their existing Brambles shareholding, while retaining their existing Brambles shares, the company said on Tuesday. Brambles will not retain any shareholding in Recall Holdings Limited following the demerger.

Brambles in June 2012 cancelled the planned sale of Recall, after months of negotiations with potential buyers, with chairman Graham Kraehe explaining that offers were too low.

Brambles offered new shares to existing shareholders that could raise up to $448 million, with the proceeds to make up for the failure to sell Recall.

In the six months to December 31 last year, Recall's revenue fell by five per cent to $US607 million, and represented only 16 per cent of Brambles's revenue. But Brambles chief executive Tom Gorman defended the subsidiary company's performance.

"Recall is a very solid business with a strong financial profile that has consistently created value for Brambles shareholders," he said in a statement on Tuesday. "It has delivered stable, recurring sales revenue despite challenging macro-economic conditions, and positive trends for cash flow generation, operating margins and return on capital over recent years."

Shareholders will be given a scheme book in October containing a demerger recommendation from the Brambles Board, along with the demerger timetable and a profile of both Recall Holdings and Brambles after the change.

Brambles continues to expect underlying profit, including the contribution of Recall, of between $US1.03 billion and $US1.06 billion ($A1.12 billion and $A1.15 billion) in the year to June 30, based on June 30, 2012 exchange rates when the Australian dollar bought 102 US cents.



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 4 2012, 04:37 PM
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In Reply To: wren's post @ Jun 4 2012, 04:22 PM

an interesting take

and the fact they are now raising cash says something about the precariousness of the balance sheet?

(no, I don't hold - posting only as a 'narrative' and, perhaps, to flush out non-orthodox views)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
wren
post Posted: Jun 4 2012, 04:22 PM
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In Reply To: nipper's post @ Jun 4 2012, 02:26 PM

Hi Nipper,

BXB is a 'lifestyle company' imo. AMC is another one.These companies get bigger so everyone's pay goes up but the shareholders make zilch. BXB was about $6.00 in 1997 and here we are 15 years later at $6.00.
( just a general observation--no idea if you hold or otherwise!)


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