5 Stocks Under Spotlight- LVT, CCP, NUF, RHC, COH

  • May 02, 2020 12:44 AM AEST
  • Hina Chowdhary
    Director, Equities Research Hina Chowdhary
    1706 Posts

    Hina Chowdhary is the Director, Equity Research at Kalkine and has an extensive experience of about 15 years in the area of Research, which includes 5+ years in Equities Research particularly.She has earned a Master of Science degree from the renowne...

5 Stocks Under Spotlight- LVT, CCP, NUF, RHC, COH

Two days ago, on Wednesday, the market started returning in form. It appeared as if the market was shedding some of its bearish trend in the past two days. Furthermore, the month ended on a high, with the Australian benchmark index, S&P/ASX200 climbing 2.4 per cent to 5,522.4 basis points on Thursday.

Gold MTF non-AMP

That said, the market dipped by 5.01 per cent to close at 5245.9 basis points on Friday, 1 May 2020. Further, on 1 May 2020, the following sectors closed the trading session in red - communication services, consumer discretionary, consumer staples, energy, financials, healthcare to name a few. The companies whose shares dipped on ASX were AGL, ALL, AMC, AMP, ANZ, APA, etc.

However, the top movers for the same day were Janus Henderson Group PLC (ASX:JHG), Fisher & Paykel Healthcare Corporation Limited (ASX:FPH), ResMed Inc (ASX:RMD), InvoCare Limited (ASX:IVC), NEXTDC Limited (ASX:NXT).

Let's discuss a few ASX listed stocks with their latest announcements:

Livetiles Limited (ASX: LVT), is a global company in AI & employee engagement products and intranet software space. Recently, the Company received AUD 5.6m cash from the Australian Tax Office in relation to research & development tax refunds.

Further, the IT company announced Q3 results. It has achieved another solid quarter of annualised recurring revenue (ARR) growth in the quarter ended on 31 March 2020. The ARR reached AUD 55.2 million, representing a year on year growth of 60 per cent. The ARR is up by 4.9 times when compared with two years ago.

Q3 growth was achieved despite the Company's partnership ended with N3 at the end of the quarter. The partnership was for two years, and N3 used to provide marketing services and contracted sales, particularly in the US.

The Company said that in those two years, their business model has evolved, and they are well-positioned to pursue growth through multiple channels that include digital marketing, direct sales, Microsoft and partners. An internal operating model is now handling the inside sales operations.

New customer highlights in Q3 period included of:

  • A global car manufacturer (Germany)
  • A professional sports club (Australia)
  • A federal government department (Australia)
  • A global car manufacturer (Germany)
  • A local government (United States)
  • A global petrochemical company (Switzerland)
  • A global chocolatier (Switzerland)
  • A global HR & Payroll software company (Norway)
  • A global aerospace manufacturer (Germany)
  • A global medical products manufacturer (Singapore)
  • A local NGO (Australia)
  • A global building supplies manufacturer (Austria)
  • A global pharmaceuticals company (the United States)
  • An educational research organisation (Australia)

LiveTiles' customer cash receipts for the quarter is AUD 10.9 million, up by 109 per cent from the previous corresponding quarter (March 2019). Furthermore, year to date customer cash receipts is AUD 29.8 million, up by 154 per cent on the prior year.

LVT last traded flat at AUD 0.225, with a market cap of AUD 203m, on 1 May 2020.

Credit Corp Group (ASX:CCP) is an Australian based top debt buyer and collector company. It provides sustainable financial solutions to customers.

Lately, CCP notified the market on the successful conclusion of its institutional placement amounting to AUD 120m. Also, 9,600,000 new shares to be issued under the placement are expected to settle on Monday, 4 May 2020. The new shares will be offered at AUD 12.50 per share. The normal trading and allotment of the new shares issued under the placement are expected on 5 May 2020.

Credit Corp's CEO, Thomas Beregi, said that the Company welcomes the support of its shareholders. It will strengthen the Group's balance sheet and will help the Company to pursue debt purchasing opportunities.

The Company has confirmed a Share Purchase Plan (SPP) which is non-underwritten and aims to raise ~AUD 30m.

Further, CCP's businesses remained operational with most of the staff working remotely. During the current uncertain time, the Company is focused on protecting cash flow while preserving operational capacity and the Company's ability to realise debt purchasing and collection opportunities.

CCP traded at AUD 15.190 with a market cap of AUD 908.9m, down by 8.218 per cent on 1 May 2020 (AES: 5:06 PM).

Nufarm Limited (ASX: NUF) is a global seed technology and crop protection company that helps farmers to fight diseases, pests and weeds for over a century period now.

As per its latest update, the Company is ready to commercialise new brands in Australia over the next 12 months. These include a novel insecticide, Cyclaniliprole, brand name Teppan and a novel herbicide, Tiafenacil, brand name Terrador.

There is a sudden increase in demand for the Company's products. The several factors contributing to this are - weather bureau predicting (in December) a continuation of hot and dry conditions, China shut down for Lunar New Year and COVID-19 restrictions which is making delayed shipments to the country.

Business is impacted due to the ongoing pandemic as Nufarm rely on China for some of the raw materials. The Company is exploring options to mitigate their supply risk. Nufarm proudly declares that the Australian manufacturing teams have kept operating throughout the corona challenges so that farmers can get the products.

NUF last traded at AUD 5.170 with a market cap of AUD 2bn, dipping by 1.711 per cent from its previous close, as on 1 May 2020.

Australia headquartered, Ramsay Health Care Limited (ASX: RHC) is an international health care entity. It offers the best services and delivers excellent patient care.

On 29 April, the healthcare company notified that it settled a comprehensive deal along with the State of Victoria. As per the agreement, it will make its services and facilities available during the COVID-19 pandemic (Agreement). The new agreement supersedes the Heads of Agreement under which the Company and state have been operating since 1 April 2020.

The term consisted of the first term commencing on 28 April 2020 until 20 business days after the state gives notice. However, the notice cannot be given before lifting category three restrictions and also till 31 May 2020. If the COVID-19 cases increase, the state can 'restart' the operation of the Agreement for a further term.

Ramsay further announced that it would be undertaking a share purchase plan (SPP), as previously notified to the market for eligible Ramsay shareholders in Australia and New Zealand. The SPP can be applied for up to AUD 30,000 worth of new fully paid ordinary shares (SPP Shares) without incurring brokerage or other transaction costs. The SPP is not underwritten, and it aims to raise up to AUD 200m.

RHC last traded at AUD 62.380 with a market cap AUD 13.99bn, down by 0.36 percent from its last close, as on 1 May 2020.

Cochlear Limited (ASX: COH) recently announced the conclusion of its SPP, offered to 36,724 eligible shareholders. Total valid applications summed at approximately AUD 417 million that was received from 16,651 shareholders.

The SPP followed the successful institutional placement of AUD 880 million worth of shares to existing shareholders at AUD 140 per share, which is a discount of 16.7 per cent to the prevailing market price (Institutional Placement).

COH traded at AUD 179.950 with a market cap AUD 12.12bn, down by 2.466 per cent compared to its previous close, as on 1 May 2020.



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