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Data Management Fundamentals
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Killexams : DAMA Fundamentals resources - BingNews https://killexams.com/pass4sure/exam-detail/DMF-1220 Search results Killexams : DAMA Fundamentals resources - BingNews https://killexams.com/pass4sure/exam-detail/DMF-1220 https://killexams.com/exam_list/DAMA Killexams : Raiders coordinators stressing fundamentals after latest loss

As one of only two teams in the league with two or fewer wins entering Week 11, it’s fair to say the Raiders are performing severely below expectations.

After finishing 10-7 with a Wild Card berth in 2021 and making significant offseason additions like Davante Adams and Chandler Jones, the Raiders are 14th in points scored and 17th in total yards. Defensively, they’re 28th in points allowed and yards allowed.

So as the 2-7 club prepares for a matchup against the division-rival Broncos — one of two teams Las Vegas has defeated this season — offensive coordinator Mick Lombardi and defensive coordinator Patrick Graham both put an emphasis on one word in their Tuesday press conferences:

Fundamentals.

“I keep saying it over and over again, but we’ve strung good days together on the practice field,” Lombardi said. “And I think the belief from the players and from the coaching staff and everybody, is that stringing good days together on the practice field is going to result in opportunities on Sunday to produce some plays. … We’ve just got to keep putting positive days together and focus on the fundamentals to reduce the negative plays.”

“Just in terms of when you’re not getting the results, the process is the process in terms of what we’re trying to build here, and what we’re going to build here,” Graham said. “The thing you got to stick to is just the fundamentals of the game. It comes down to running, tackling, block destruction, trying to cause turnovers. There’s a lot of stuff to Excellerate upon right now. But the focus has to be on, defensively, tackling, defeating blocks, defending the deep part of the field. Nothing new there because if we just have incremental improvement there, then the results change.

“So, that’s a big focus for us and then just getting better at that. That’s how I know how to go through the process. In my 14 years in the league and my 21 years coaching, that’s really been a good guideline for me and the teams I’ve been a part of.”

When a team is struggling as much as the Raiders have, there isn’t much else to fall back on. We’ll see if the Raiders look more like the team that beat the Broncos 32-23 back in Week Four or the one that has collapsed in losses to the Jaguars and Colts in the last two weeks on Sunday.

Wed, 16 Nov 2022 02:18:00 -0600 en-US text/html https://profootballtalk.nbcsports.com/2022/11/16/raiders-coordinators-stressing-fundamentals-after-latest-loss/
Killexams : AWS Introduces Resource Explorer to Simplify Search and Discovery of Resources

AWS recently announced the general availability of Resource Explorer, a managed capability to search and discover resources inside an AWS account. The new option is available at no additional charge and can query multiple regions but not multiple accounts.

Resource Explorer supports resources with Amazon Resource Names (ARNs), including S3 buckets, EC2 instances, Amazon Kinesis streams, and DynamoDB tables. Danilo Poccia, chief evangelist of EMEA at AWS, writes:

Using the new AWS Resource Explorer, you can search through the AWS resources in your account across Regions using metadata such as names, tags, and IDs. When you find a resource in the management console, you can quickly go from the search results to the corresponding service console and Region to start working on that resource.

Source: https://aws.amazon.com/blogs/aws/introducing-aws-resource-explorer-quickly-find-resources-in-your-aws-account/

By default, the new service is not enabled and administrators need to turn it on to create and maintain the indexes. The visibility of the resources is controlled by creating views that define what resource information is available for search and discovery: different views can be created for different groups of users depending on their roles and permissions.

To search for resources across regions with a single search, the query must be performed against a view defined in the region with the aggregation index. Hatice Özşahan, product marketing manager at Resmo, wrote an article about "the pros and cons" of Resource Explorer. Özşahan highlights:

Resource Explorer intentionally excludes certain resource types as they may contain customer data, and therefore including them would cause an exposure. Resource Explorer simply does not index those resource types, including S3 objects contained within a bucket, DynamoDB attribute values, and DynamoDB table items.

Source: https://aws.amazon.com/blogs/aws/introducing-aws-resource-explorer-quickly-find-resources-in-your-aws-account/

Resource Explorer is supported using the CLI, the SDKs, or a unified search bar in the console. Poccia explains:

I can also search through my AWS resources in the search bar at the top of the Management Console. We call this capability unified search as it gives results that include AWS services, features, blogs, documentation, tutorial, events, and more. To focus my search on AWS resources, I add /Resources at the beginning of my search.

From the search results displayed in the console, developers can directly go to the resource’s service console and region.

The new capability for resource inventory has been long awaited. Some users question the limited number of services supported, the lack of multi-account support, and the eventually consistent model, comparing the new capability to the options offered by other providers. Ted Andersen tweets:

Meanwhile Azure has had AZ resource list, Get-AzureResource, and /resources API calls since day one. It only took AWS 20 years? And it is "eventually consistent"?

Corey Quinn, cloud economist at The Duckbill Group, adds:

No multi-account / multi-org option, which is sad. And there's a spit-take 36 hours eventual consistency period before it shows what's in the account?

The cloud provider released an API reference guide for the new service. Resource Explorer is currently available in a subset of regions and does not support searching across multiple accounts inside an organization. The service is available at no additional charge.

Sun, 20 Nov 2022 10:04:00 -0600 en text/html https://www.infoq.com/news/2022/11/aws-resource-explorer/
Killexams : Kaymus Resources Inc.'s (CVE:KYS.H) Stock Is Going Strong: Is the Market Following Fundamentals?

Kaymus Resources (CVE:KYS.H) has had a great run on the share market with its stock up by a significant 31% over the last week. Since the market usually pay for a company’s long-term fundamentals, we decided to study the company’s key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Kaymus Resources' ROE today.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

See our latest analysis for Kaymus Resources

How Do You Calculate Return On Equity?

Return on equity can be calculated by using the formula:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Kaymus Resources is:

56% = CA$1m ÷ CA$1.8m (Based on the trailing twelve months to April 2022).

The 'return' is the yearly profit. Another way to think of that is that for every CA$1 worth of equity, the company was able to earn CA$0.56 in profit.

What Has ROE Got To Do With Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Kaymus Resources' Earnings Growth And 56% ROE

Firstly, we acknowledge that Kaymus Resources has a significantly high ROE. Secondly, even when compared to the industry average of 27% the company's ROE is quite impressive. So, the substantial 83% net income growth seen by Kaymus Resources over the past five years isn't overly surprising.

Next, on comparing with the industry net income growth, we found that Kaymus Resources' growth is quite high when compared to the industry average growth of 31% in the same period, which is great to see.

past-earnings-growth

Earnings growth is an important metric to consider when valuing a stock. It’s important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Kaymus Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Kaymus Resources Efficiently Re-investing Its Profits?

Given that Kaymus Resources doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

Overall, we are quite pleased with Kaymus Resources' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Let's not forget, business risk is also one of the factors that affects the price of the stock. So this is also an important area that investors need to pay attention to before making a decision on any business. You can see the 4 risks we have identified for Kaymus Resources by visiting our risks dashboard for free on our platform here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Thu, 17 Nov 2022 00:18:00 -0600 en-US text/html https://finance.yahoo.com/news/kaymus-resources-inc-cve-kys-135838518.html
Killexams : Is Iluka Resources Limited's (ASX:ILU) accurate Stock Performance Tethered To Its Strong Fundamentals?

Iluka Resources' (ASX:ILU) stock is up by a considerable 18% over the past month. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Iluka Resources' ROE in this article.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits.

View our latest analysis for Iluka Resources

How Do You Calculate Return On Equity?

The formula for return on equity is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Iluka Resources is:

26% = AU$501m ÷ AU$1.9b (Based on the trailing twelve months to June 2022).

The 'return' is the amount earned after tax over the last twelve months. That means that for every A$1 worth of shareholders' equity, the company generated A$0.26 in profit.

Why Is ROE Important For Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

Iluka Resources' Earnings Growth And 26% ROE

Firstly, we acknowledge that Iluka Resources has a significantly high ROE. Secondly, even when compared to the industry average of 16% the company's ROE is quite impressive. Under the circumstances, Iluka Resources' considerable five year net income growth of 37% was to be expected.

We then performed a comparison between Iluka Resources' net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 33% in the same period.

past-earnings-growth

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Iluka Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Iluka Resources Making Efficient Use Of Its Profits?

Iluka Resources' three-year median payout ratio is a pretty moderate 29%, meaning the company retains 71% of its income. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Iluka Resources is reinvesting its earnings efficiently.

Additionally, Iluka Resources has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 40% over the next three years. Consequently, the higher expected payout ratio explains the decline in the company's expected ROE (to 16%) over the same period.

Summary

Overall, we are quite pleased with Iluka Resources' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Sat, 03 Dec 2022 09:52:00 -0600 en-US text/html https://finance.yahoo.com/news/iluka-resources-limiteds-asx-ilu-232956493.html
Killexams : Pan African Resources PLC's (LON:PAF) Stock Is Going Strong: Is the Market Following Fundamentals?

Pan African Resources' (LON:PAF) stock is up by a considerable 6.6% over the past month. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Pan African Resources' ROE in this article.

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.

See our latest analysis for Pan African Resources

How Do You Calculate Return On Equity?

Return on equity can be calculated by using the formula:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Pan African Resources is:

25% = US$75m ÷ US$295m (Based on the trailing twelve months to June 2022).

The 'return' is the amount earned after tax over the last twelve months. So, this means that for every £1 of its shareholder's investments, the company generates a profit of £0.25.

What Is The Relationship Between ROE And Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company’s earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

Pan African Resources' Earnings Growth And 25% ROE

First thing first, we like that Pan African Resources has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 13% also doesn't go unnoticed by us. Probably as a result of this, Pan African Resources was able to see a decent net income growth of 19% over the last five years.

As a next step, we compared Pan African Resources' net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 18% in the same period.

past-earnings-growth

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Pan African Resources is trading on a high P/E or a low P/E, relative to its industry.

Is Pan African Resources Making Efficient Use Of Its Profits?

Pan African Resources has a healthy combination of a moderate three-year median payout ratio of 27% (or a retention ratio of 73%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.

Additionally, Pan African Resources has paid dividends over a period of nine years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to drop to 21% over the next three years.

Summary

In total, we are pretty happy with Pan African Resources' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Tue, 22 Nov 2022 00:54:00 -0600 en-US text/html https://www.yahoo.com/entertainment/pan-african-resources-plcs-lon-123221263.html
Killexams : Tesla Stock Hit With Twitter Jitters. Fundamentals Aren’t Helping.

Keeping up with the comings and goings at Twitter can feel like a full-time job, but Tesla investors need to try to at least keep tabs on what could affect the car company. Their CEO runs Twitter too.

Investors should probably keep on up automotive fundamentals, too.

Mon, 14 Nov 2022 03:24:00 -0600 en-US text/html https://www.barrons.com/articles/tesla-stock-price-twitter-elon-musk-51668434005
Killexams : Saints' renewed focus on fundamentals appeared to pay off

NEW ORLEANS (AP) — Saints coach Dennis Allen placed a renewed focus on fundamentals during the past week of practice and it appeared to pay off.

New Orleans did not turn the ball over, didn't have many missed tackles and was called for just two penalties during a 27-20 victory over the Los Angeles Rams on Sunday that kept the Saints within 1 1/2 games of first place in the NFC South, where no team has a winning record.

“Our tackling was really good," Allen said Monday after reviewing game video. "Our fundamentals on both sides of the ball were pretty good.

“A lot of times, penalties are a result of utilizing poor fundamentals or technique and then you get caught in a bad position,” Allen noted.

Playing with a patchwork offensive line that was missing three starters, the Saints prevented Rams star defensive lineman Aaron Donald from getting a sack or otherwise making a game-changing play.

Right tackle Ryan Ramczyk, who along with right guard Cesar Ruiz were the only regular starting offensive linemen to play in the game, said New Orleans' success likely stemmed in part from a “shared sense of urgency” that has players holding one another accountable.

With six games to play, the Saints have a decreasing margin for error if they want to catch first-place Tampa Bay (5-5).

“There’s no time for mishaps, miscommunication, any of that stuff,” Ramczyk said. "We've got to be locked in every week and I think that’s known. There’s a huge sense of urgency right now in this locker room.”

Allen said the premium the Saints have placed on character and leadership leaves him certain that if the Saints falter, it won't be because players checked out mentally as a difficult season wore on.

“Everybody faces adversity at some point in time, in life or in the game of football," Allen said. "How you respond to it says a lot about who you are as an individual.

“I’ve never questioned whether this team was going to go out there and fight,” Allen continued. "I don’t know that we’ve always executed as well as we would like and so, therefor, we haven’t probably gotten as good as results as we would like, but there’s no quit in this team.”

WHAT’S WORKING

Beyond giving up one long Rams TD pass, the Saints didn't provide up another reception longer than 20 yards in the game and ranked eighth in the NFL against the pass through Sunday's games. It helps that the Saints have been effective lately in pressuring the quarterback with 10 sacks in the past two games.

"I know we didn’t start off the season pressuring the quarterback as well, but now we’re getting to the point where we’re getting some pretty good pressure on the quarterback and affecting the quarterback,” Allen said.

WHAT NEEDS HELP

The Saints defense has needed to Excellerate its ability to create turnovers all season — and that still hasn't changed after the unit forced no turnovers in Week 11. New Orleans has just two interceptions and five fumble recoveries in 11 gams and has an NFL-worst turnover differential of minus-12.

STOCK UP

Linebacker Kaden Ellis has had to play more because of linebacker Pete Werner's injury. He was in on 10 tackles and credited with a 1 1/2 sacks against the Rams. ... Tight end Juwan Johnson has five touchdowns in the past five games.

STOCK DOWN

Defensive back Chris Harris, who was brought in for depth but has been pressed into a more prominent role because of injuries to cornerbacks Marshon Lattimore and Bradley Roby, was beaten deep down the left sideline on Sunday by Tutu Atwell for a 62-yard touchdown.

INJURIES

The Saints were down three defensive ends after Payton Turner went out with an ankle injury Sunday. Cameron Jordan (eye) and Marcus Davenport (calf) missed the Rams game entirely. The Saints' defense also was without Lattimore for a sixth straight game. Werner has missed two games. Left tackle James Hurst is trying to come back from a concussion that sidelined him last weekend.

KEY NUMBER

1 — The number of times the Saints have won this season on the road, where they play their next two games.

NEXT STEPS

The Saints will travel to San Francisco hoping to win two straight for the first time this season. If they do, it sets up a potentially pivotal game in the NFC South in Week 13, when the Saints visit division leader Tampa Bay in a Monday night game.

___

AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL

Tue, 22 Nov 2022 04:02:00 -0600 en-US text/html https://news.yahoo.com/saints-renewed-focus-fundamentals-appeared-011739426.html
Killexams : Will Weakness in Coronado Global Resources Inc.'s (ASX:CRN) Stock Prove Temporary Given Strong Fundamentals?

Coronado Global Resources (ASX:CRN) has had a rough month with its share price down 7.5%. However, stock prices are usually driven by a company’s financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Coronado Global Resources' ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.

Check out our latest analysis for Coronado Global Resources

How Is ROE Calculated?

The formula for return on equity is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Coronado Global Resources is:

74% = US$916m ÷ US$1.2b (Based on the trailing twelve months to September 2022).

The 'return' is the amount earned after tax over the last twelve months. So, this means that for every A$1 of its shareholder's investments, the company generates a profit of A$0.74.

What Has ROE Got To Do With Earnings Growth?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don’t share these attributes.

Coronado Global Resources' Earnings Growth And 74% ROE

To begin with, Coronado Global Resources has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 16% the company's ROE is quite impressive. As a result, Coronado Global Resources' exceptional 24% net income growth seen over the past five years, doesn't come as a surprise.

Next, on comparing with the industry net income growth, we found that Coronado Global Resources' reported growth was lower than the industry growth of 33% in the same period, which is not something we like to see.

past-earnings-growth

Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Coronado Global Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Coronado Global Resources Using Its Retained Earnings Effectively?

Coronado Global Resources has a really low three-year median payout ratio of 3.4%, meaning that it has the remaining 97% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.

Moreover, Coronado Global Resources is determined to keep sharing its profits with shareholders which we infer from its long history of four years of paying a dividend. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 122% over the next three years. Accordingly, the expected increase in the payout ratio explains the expected decline in the company's ROE to 28%, over the same period.

Summary

In total, we are pretty happy with Coronado Global Resources' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a respectable growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here

Sun, 20 Nov 2022 12:10:00 -0600 en-US text/html https://www.yahoo.com/entertainment/weakness-coronado-global-resources-inc-011254659.html
Killexams : Avantor: Reduce To Hold, Awaiting Convergence Of Price, Fundamentals
Innovations in medicine Abstract Molecular Structure

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Investment summary

Following a rapid shift in price action and accurate earnings downgrade, I've moved my position on Avantor, Inc (NYSE:AVTR) to hold. At present, I advocate against allocating additional/initial capital despite the attractiveness of it trading at 23x P/E and 17.5x FCF - well below historical averages.

I want to make this clear: we are still long-term bullish on AVTR. I'm just advocating to withhold from allocating right now. Selective opportunities are on the horizon in this name. However, market pundits have a lot to work through. AVTR has been heavily punished in FY22 on the back of the SPX's delta, alongside management's narrowed FY22 guidance.

Right now, I'm watching price action in AVTR to understand where to head with risk and sizing, having already wound back the position by ~70% this year amid the heavy drawdown. Nevertheless, there will be opportunity in the name once again for those who are patient, in my estimation.

AVTR full-year guidance narrowed at the bottom-line

Crucial to the investment debate is AVTR's forward earnings guidance. Management narrowed GAAP and non-GAAP EPS range for FY22 in the earnings call. It now expects EPS growth of 250-300bps or $1.38-$1.40, down from $1.43-$1.49.

Several bottom-line headwinds explain the forecast. First is a c.200bps / $0.30 per share impact from its M&A outlook, with another 200bps of organic growth decline baked into the guidance.

Further headwinds noted as "risk in European macroenvironment, as well as excess inventory in select lab consumable categories" are set to be dilutive to EPS as well. Chief amongst these is the retirement of Covid-19-related revenues, a previous mid-term growth driver. Another 330bps base effect to EPS from forex headwinds is also projected. Forex headwinds are also tipped to reduce revenue growth by 200-300bps in FY22.

Question is, what impact this has to the outlook down the line? In my estimation, not a great deal. Looking at quarterly numbers from FY23-FY24, it's not unreasonable to expect a double-digit growth in GAAP earnings, with acquisition benefits and revenue upsides. Reconciling to non-GAAP estimations yields similar medium-term results.

Hence, it really is a question of whether the market has overshot its run on AVTR, or if there's more yet to be discounted into the stock price. Alas, despite these projections, from the price action discussed below, probabilities are there's more downside to come before AVTR finds its floor.

Exhibit 1. Forward estimates still suggest strong quarterly earnings growth from FY23 [GAAP & non-GAAP]

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Note: All figures in $mm, $/share or [%] where relevant. (Data: HB Insights Estimates)

AVTR price evolution drifts to new lows

Ceteris paribus, AVTR longs have witnessed a substantial loss on returns achieved across the pandemic era [FY20-FY21 total]. As seen in the chart below, AVTR endured extensive upside after the March FY20 selloff. It was a star performer in our equity budget across the year. Shares have since corrected from this point and pulled back heavily amid a >50% drawdown.

Simply, the high beta trade has unwound completely in FY22. Investors unloaded AVTR shares this year in tandem with this trend. Moreover, the equity beta premium AVTR once received has wound back since mid-FY21, as seen below. Thus, the June bounce in broad equities wasn't felt for AVTR shareholders.

With this downtrend, AVTR has continued its selloff whilst the SPX has formed a fairly rigid base from the last 3-months of trade. Alas, despite the numerous fundamental insulators I have identified in previous analyses on AVTR [See: here, also here, additionally here, and here], market mechanics have outweighed the order book resulting in heavy downside in FY22.

Exhibit 2. Bifurcation of AVTR from SPX as covariance structure shifts down as investors continue unwinding high-beta plays

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Note: Daily total price return (Data: Updata)

Exhibit 2 shows AVTR's weekly bars from March FY21 to date. The first sell indication for me came when the stock showed large upside volume with a deep red bar in September FY21.

In the weeks following, shares consolidated to the 50DMA, and the subsequent declining volume trend [shown below] was matched with a tight, flat base in price distribution. Shares tested the 50DMA for a total 10 weeks at this point, whilst weekly volume declined substantially. Important: the poor volume with sideways price action, whilst testing this 50DMA, is indication of heavy resistance in my experience. This resulted in us trimming the position size by 50%.

Looking to current price action [November], it remains bearish in my estimation. Price evolution continues to unwind toward pre-pandemic levels, with distribution pulling further away from the 50DMA and resistance line shown below. As weekly volume increases, so too does the gradient of price decline, suggesting there's more force and momentum into the move, along with further penetration of the short side of the order book.

Exhibit 3. Poor volume with pullback to 50DMA originally signaled selling point. Additional volume spike in September FY22 with heavy drift from resistance signals additional reduction sizing.

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Note: Weekly bars, total price return. (Data: Updata)

Price action looks unsupported at its current levels and long-term trend indicators [on-balance volume ("OBV"), momentum] suggest further downside could be warranted. OBV in particular remains in a continued downtrend, which is important information. Whilst broad equities caught a strong big in the June bounce in markets, AVTR's OBV tracked south in divergence from the market trend. Naturally selling pressure continues from this point until date, as seen below.

Exhibit 4. During the June bounce in broad equities AVTR's OBV drifted to the downside in direct divergence from the market trend

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Data: Updata

Q3 earnings indicative of FY23 trends

AVTR's third quarter numbers were mixed and illustrate potential headwinds looking ahead. Revenue of $1.85 Billion ("Bn") came in ~100bps higher YoY, decompressing gross margin by 150bps YoY to 35%. Accretion to gross margin looks to be driven by acquisition tailwinds, per management. As such, quarterly operating profit of $275.8mm grew 16.2% YoY. This pulled down to a marginal 416bps YoY growth in EPS to $0.25. Notably, AVTR's weighted average number of shares outstanding increased 85.6mm to 674.1mm YoY as well.

From examination, Q3 operating trends remained in-line with longer-term averages, as seen in Exhibit 4. Quarterly free cash flow margin remained within range at ~12% of turnover, whilst operating profit and gross profit were each up YoY as well, despite rolling off highs in sequential declines from Q1 FY22. Nonetheless, investors can now allocate to AVTR at a 5.7% FCF yield - which ranks in its 99th percentile of its historical ranges since listing in FY19.

Exhibit 5. Even as quarterly operating trends have curled down from Q1 FY22 highs, FCF margin [revenue] remains in double-digits, with YoY growth in operating profit

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Data: HB Insights, AVTR SEC Filings

Trends in FCF conversion and return on invested capital ("ROIC") remain within range as well, as seen in the chart below. Free cash conversion continues to remain in a cyclical uptrend for AVTR and TTM ROIC came in at 8.2% last quarter, in-line with 2-year average of 8.9%. The number is important as quarterly CapEx widened to $39mm [vs. 2-year average $27.4mm] and invested capital decreased ~15.5% YoY to $5.8Bn.

This coupling in free cash and ROIC tells me the company continues to derive sufficient return from its investments - but it needs to Excellerate here to outpace the WACC hurdle of 9.3%. Currently it runs an economic loss at that ROIC/WACC spread of $23.22mm.

Exhibit 6. Return on capital and FCF trends continue to merge higher demonstrating good return in this capital budgeting cycle

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Data: HB Insights, AVTR SEC Filings

Valuation and conclusion

In valuing AVTR the way I did I noticed there's a disconnect between fundamental and technical price targets. Price objectives obtained from point and figure charting below suggest a downside target to $16.25, or 17.2% downside from the current market price.

Our EPS estimates [shown in Exhibit 1] imply FY22 EPS of $1.39 which implies the stock should trade at a fair forward P/E of 20.9x, well above consensus' 14x forward earnings [Exhibit 8]. At this multiple, AVTR is valued at $29. The premium implies EPS upside that sits above consensus estimates, and thus represents an alpha opportunity.

Problem is the breadth between the two valuations [$16.25-$29], a total of $12.75, placing less confidence on the upper bound. The arithmetic mean of the 2 targets is $22.62, a range familiar to AVTR over the past 2-3 months.

With this in mind, my upside target is to $29, downside to $16.25 and a range of $22.25. In either scenario, near-term upside for AVTR appears unlikely, and this means I advocate to hold on allocating additional/initial capital to AVTR shares.

Exhibit 7. Downside targets to $16.25 after just taking out $19.25

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Data: Updata

Exhibit 8. Upside target to $29 based on bottom-line fundamentals, forward estimates

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Data: HB Insights Estimates

Net-net, the long-term buy thesis remains unchanged for AVTR based on ongoing fundamental momentum and EPS upside. This is evidenced by its measures on ROIC, FCF growth and forward earnings estimates. What's unsupportive is market technicals that suggest further downside in AVTR is likely, before any reversion to the upside. I believe shares are fairly priced at 20.9x earnings, a push above market consensus' 14x earnings, and just below its current P/E of 23.1x. Alas, whilst I continue to rate it a buy, at the present, I advocate against allocating to Avantor, Inc., hence hold.

Thu, 10 Nov 2022 05:53:00 -0600 en text/html https://seekingalpha.com/article/4556040-avantor-reduce-to-hold-awaiting-convergence-of-price-fundamentals
Killexams : Is Iluka Resources Limited's (ASX:ILU) accurate Stock Performance Tethered To Its Strong Fundamentals?

Iluka Resources' (ASX:ILU) stock is up by a considerable 18% over the past month. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Iluka Resources' ROE in this article.

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits.

View our latest analysis for Iluka Resources

How Do You Calculate Return On Equity?

The formula for return on equity is:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Iluka Resources is:

26% = AU$501m ÷ AU$1.9b (Based on the trailing twelve months to June 2022).

The 'return' is the amount earned after tax over the last twelve months. That means that for every A$1 worth of shareholders' equity, the company generated A$0.26 in profit.

Why Is ROE Important For Earnings Growth?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

Iluka Resources' Earnings Growth And 26% ROE

Firstly, we acknowledge that Iluka Resources has a significantly high ROE. Secondly, even when compared to the industry average of 16% the company's ROE is quite impressive. Under the circumstances, Iluka Resources' considerable five year net income growth of 37% was to be expected.

We then performed a comparison between Iluka Resources' net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 33% in the same period.

past-earnings-growth

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Iluka Resources''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Iluka Resources Making Efficient Use Of Its Profits?

Iluka Resources' three-year median payout ratio is a pretty moderate 29%, meaning the company retains 71% of its income. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Iluka Resources is reinvesting its earnings efficiently.

Additionally, Iluka Resources has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 40% over the next three years. Consequently, the higher expected payout ratio explains the decline in the company's expected ROE (to 16%) over the same period.

Summary

Overall, we are quite pleased with Iluka Resources' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Sat, 03 Dec 2022 10:36:00 -0600 en-NZ text/html https://nz.finance.yahoo.com/news/iluka-resources-limiteds-asx-ilu-232956493.html
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