Here’s why Navigator Global (ASX:NGI) has upped its earnings guidance

Be the First to Comment Read

Here’s why Navigator Global (ASX:NGI) has upped its earnings guidance

Here’s why Navigator Global (ASX:NGI) has upped its earnings guidance
Image source: © Kiosea39 | Megapixl.com

Highlights

  • Navigator Global Investments has upgraded its earnings guidance for the FY2022.

  • The firm’s net profit is forecast to be between US$33 million and US$35 million.

  • Navigator is over US$50billion asset management company exclusively focused on institutional quality alternative investment strategies.

Navigator Global Investments Ltd (ASX:NGI) has upgraded its earnings guidance for the financial year 2022 following a strong investment performance across its material portfolios in the first two months.  

Navigator is an over US$50billion asset management company, exclusively focused on institutional quality alternative investment strategies. The group has presence in Brisbane, New York, Chicago, London, and Hong Kong.

Navigator’s adjusted earnings before interest, tax, depreciation and ammortisation (EBITDA) was revised upwards in the range of US$43 million to US$45 million, from the previous forecast range of US$40 million to US$42 million.

Navigator’s net profit is forecast to be between US$33 million and US$35 million.

“The earnings upgrade is primarily driven by strong performance from the NGI Strategic Portfolio following the company’s investment in that portfolio in February 2021,” the company said in its latest update.

According to the ASX filing, the managers within the NGI Strategic Portfolio have advised that they have generated strong investment performance across their material portfolios in the first two months of the calendar year 2022.

 

Navigator’s share price snapshot

Navigator’s stock has fallen over 10% on a year-to-date (YTD) basis. However, in the past one year, the stock has risen over 2.5%. The stock has risen nearly 6% in the past six months.

The 52-week high and low of the stock stand at AU$2.04 and AU$1.40, respectively. 

By 11:25 PM (AEST), the stock was trading at AU$1.78, down nearly 12%. 

Meanhwile, Navigator Global, last year, acquired a 32% ownership interest in Longreach Alternatives.

RELATED ARTICLE: What does Australia’s debt mean for taxpayers?

RELATED ARTICLE: AJQ, GGX & PCL - How these energy stocks have performed as oil prices cool off

RELATED ARTICLE: What is Moonbeam (GLMR) crypto? Everything you need to know

Disclaimer

Speak your Mind

Featured Articles

Ad
kalkine logo

GET A FREE STOCK REPORT

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK