analysts Archives - Page 9 of 49 - Tyrepress

Posts

Pirelli's Gori to resign?

Ahead of Pirelli’s latest financial results, rumours are circulating between the press and financial analysts that Pirelli COO Francesco Gori could be about to resign. A report from analysts Morgan Stanley cites an article in the Italian newspaper "Il Corriere della Sera" today (8th May) making this suggestion.

Pirelli itself has reportedly been quite non-committal in its response. Morgan Stanley reports that it has “spoken to the company this morning and this was neither denied or confirmed. The company have signalled before that they are looking to simplify their organisational structure, however unconfirmed rumours in the industry are that there were clashes between the CEO (and owner) Tronchetti on Pirelli’s long term strategy."

8th May 2012/by Tyrepress Editors

Analysts raise Cooper target price

Deutsche Bank analysts have raised their target price for Cooper Tire & Rubber shares to US$19.00. In an investors’ note published 3 May, the analysts stated that Cooper Tire “reported stronger than expected Q1 earnings of $0.34 versus our $0.27 estimate. Margins were significantly higher than we expected (operating margin was 4.8 per cent versus our 3.9 per cent estimate). All of the upside versus our estimates was derived from lower than expected raw material inflation. Nonetheless, the results were impressive considering that they were achieved despite $0.32 of strike related costs. This reinforces our view that tyre companies are becoming more profitable at any volume. We maintain our Hold based on uncertainty surrounding structural industry changes.”

4th May 2012/by Tyrepress Editors

Analysts: Michelin trying to recover lost market share with Tigar expansion

Michelin is aiming to recoup part of the market share it has lost in the last decade by pushing up tyre production and sales volume across the board. That’s the view of financial analysts at Morgan Stanley who described the company as “swimming in red ocean.” Referring to the 170 million euros the company just announced it is putting into increasing budget tyre production at its Tigar plant in Pirot, Serbia, financial analysts described the funding as “a small investment for Michelin”, but a “big clue for investors.”

3rd April 2012/by Tyrepress Editors

Alcoa ranked first in Fortune’s most-admired metal companies

A table ranking corporate reputation published by Fortune magazine has named Alcoa jointly the most-admired metals company in the world with ArcelorMittal, the European integrated steel and mining company. The wheel manufacturer received top ranking in sustainability and innovation, which its representatives say is testament to Alcoa’s ongoing leadership in two areas that are key to the success of Alcoa’s business; customers and communities.

2nd April 2012/by Tyrepress Editors

Continental breaks ground on South Carolina plant

Continental Tire the Americas has broken ground on its new consumer tyre plant in Sumter County, South Carolina, reports Tire Review. Governor Nikki Haley and officials from CTA and Continental AG were present as ceremonies took place at the plant site. The plant will produce all lines and sizes of Continental and General brand passenger and light truck/SUV tyres for the North American market, and will primarily build replacement market tyres for at least the first three years of its existence, a Conti official said last October.

28th March 2012/by Tyrepress Editors

Analysts predict Schaeffler will sell more Conti stock

Some financial analysts are recommending Continental shares ahead of a possible further sale of some of the stake directly owned by current 49.9 per cent shareholders Schaeffler Group. “Even if Schaeffler were to do another private placement of Conti shares, we think it might not be enough to satisfy investor appetite. We regard Conti as a structural, earnings and free cash flow driven overweight offering an attractive entry point,” Morgan Stanley analysts wrote in an investor’s note published 22 March.

22nd March 2012/by Tyrepress Editors

Analysts: Pirelli target upgrade a big surprise

While pleased that Pirelli’s figures were “in line” with expectations, financial analysts have reported their surprise at the Italian-based tyre manufacturers’ decision to raise its targets for 2012. According to advice sent out by Morgan Stanley the upgrade news is “a big surprise so soon after the investor day in the fourth quarter.” They expect target upgrade in the region of 8 to 10 per cent and immediately issued the succinct advice “buy”.

12th March 2012/by Tyrepress Editors

Pirelli sales up 16.6% in 2011, profits beat target margin

Pirelli & C. SpA’s has released fourth quarter and full year 2011 results showing consolidated revenues in 2011 totalled 5,654.8 million euro, an increase of 16.6 per cent from 4,848.4 million euros in 2010. Consolidated operating income after restructuring charges was 581.9 million euros compared with 407.8 million euros in 2010, and with a 10.3 per cent margin compared with the target of “around 10 per cent” announced last November. This is almost two percentage points higher than the 8.4 per cent achieved in 2010.

12th March 2012/by Tyrepress Editors

Analysts up Conti share price target

Financial analysts have expressed a vote of confidence in Continental AG’s present and future financial performance by increasing the price their expect the company’s shares to achieve in the medium term. Recommending a new, higher price target to its investors, Morgan Stanley analysts raised their price target for Continental stock to 90 euros per share, up some 15 euros from the previous target of 75 euros.

9th March 2012/by Tyrepress Editors

Analysts: Fourth quarter results key for Pirelli 2012 outlook

When Pirelli releases its fourth quarter financials on Monday, the results are likely to be a barometer of what can be expected from the company in the rest of 2012. That’s the view of financial analysts from Morgan Stanley that published their view in an investors note dated 8 March.

Their prediction is that Pirelli will report figures on the positive side of being in line with expectations: “We believe Pirelli will deliver 139 million euros of reported EBIT, a touch higher than the street and Pirelli’s targets.

8th March 2012/by Tyrepress Editors

US aftermarket tyre sales down in February

A report from analysts Morgan Stanley reveals that preliminary figures released by the US Rubber Manufacturer Association (RMA) show a decline in aftermarket tyre sales in February of passenger car, light truck and commercial truck tyres.

8th March 2012/by Tyrepress Editors

How much? Freight rates double

Company News, International News, News

The world’s largest shipping company, Maersk, has just announced that its container line made a loss of US$537 million last year and is unlikely to turn a profit in 2012. The vast majority of its competitors have posted similar losses and it seems like they have now decreed that enough is enough and across the board rate increases have been announced. And we’re not talking single percentage point increases. Rather rates are said to be almost doubling their previous levels.

6th March 2012/by Tyrepress Editors

Analysts: Conti profits beat projections

Continental’s fourth quarter adjusted pre-tax profits of 815 million euros (announced yesterday, 1 March) was 5 per cent ahead of the consensus of projections compiled by various financial analysts. At the same time the company’s fourth quarter sales of 7.7 billion were some 2 per cent higher. According to an investor’s note published by Morgan Stanley following the publication of the Continental’s financials, the company’ s margin of 10.3 per cent also came higher than consensus estimates at 10 per cent.

2nd March 2012/by Tyrepress Editors

Continental triples share dividend estimates

Continental AG has announced that the company plans to pay a dividend of 1.5 euros per share for the 2011 fiscal year, almost tripling analyst estimates of 0.55 euros. Based on the approximately 200 million shares outstanding, the proposed amount to be distributed totals roughly 300 million euros. This equates to a payout ratio of about 24 per cent, according to an official statement on the subject.

20th February 2012/by Tyrepress Editors

Analysts: Schaeffler refinancing its debt is a positive for Conti

Schaeffler AG, which currently controls what is effectively a 60 per cent stake in Conti, has announced plans for new credit worth around 8 billion euros. In addition to this refinancing, the company announced plans to issue 2 billion euros of bonds.

According to financial analysts at Morgan Stanley, this all comes around the same time as ratings agencies Stand & Poor’s and Moody's are planning to publish official credit ratings. And all follows Schaeffler’s decision to change its legal form into AG back in September 2011 in order to gain better access to capital markets.

30th January 2012/by Tyrepress Editors