14/11/2023 09:31

Has Elders (ELD) given us some market insight?

We mentioned earlier that the “Christmas Rally” is usually characterised by a distinct lack of selling as opposed to aggressive waves of buying; hence, it's easy to comprehend the move by ELD yesterday. I wouldn’t want to be heavily short a potential turnaround story whose selling volume was poised to dry up in the coming few weeks, the stock could be back above $8 in the blink of an eye, hence locking in some profit after the stock's shocking year made total sense for those short.

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13/11/2023 16:43

Elders (ELD) $7.31

ELD +18.28%: the agricultural services business jumped to 3-month highs on a small beat for FY23 despite some notable headwinds. Sales fell 4% to $3.3b, slightly ahead of consensus, while EBIT was just above the midpoint of guidance, the $170.8m was down 26% on FY22 but ~2% ahead of expectations.

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19/09/2023 09:21

Elders Ltd (ELD) $6.17

. ELD delivered another downgrade last month, it wasn’t overly large in magnitude but for a company that’s struggling to regain investors' confidence it simply delivered another reason to sell i.e. if in doubt get out!

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25/08/2023 11:04

Flagship Growth Portfolio – Amendments

We are making multiple changes to the Flagship Growth Portfolio

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21/08/2023 17:22

Elders (ELD) $6.35

ELD -10.81%: Fell today after downgrading earnings guidance for FY23 by ~6.5% relative to consensus. ELD (September year-end) are now guiding to underlying EBIT in the range $165m to $175m, 11% below their previous guidance range.

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15/08/2023 09:04

Elders Ltd (ELD) $7.08

ELD fell -6.1% yesterday following a “Sell recommendation” from Citi, not an ideal day to deliver such a report. They initially described ELD as a “high-quality agricultural play” but they believe that the risks of drier conditions ahead could weigh heavily on ELD.

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01/08/2023 09:48

Elders Ltd (ELD) $7.29

We bought ELD in early July believing the rural service provider was set to bounce 20-30% after pressure on earnings and uncertainty around leadership had weighed on the stock’s performance – so far so good the stocks bounced over 20% from June’s low.

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05/07/2023 10:10

Flagship Growth Portfolio – Amendment

We are buying Elders (ELD) into recent weakness. We believe ELD now represents a strong risk/reward buying opportunity, whilst leaving some room to average if they re-test recent lows

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04/07/2023 09:39

Elders Ltd (ELD) $6.75

FY23 was a poor year for the rural service provider after announcing the retirement of the influential CEO before commencing a global search for a new leader, which was ultimately unsuccessful prompting Mark Allison to postpone his retirement. Continued pressure on earnings and uncertainty about leadership put pressure on the share price which more than halved.

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18/05/2023 09:11

Elders Ltd (ELD) $6.64

Agricultural business ELD also delivered weak 1H earnings this week helping send the stock to a 3-year low, its now more than halved from its 2022 high. EBIT for the half fell -38% to $83m, around 10% below expectations as weak livestock and fertilizer prices weighed on the business i.e. sounds a touch like IPL. Earnings are expected (hoped) to improve in the second half as some markets normalize, with guidance for the FY of $180-200m was around 8% below consensus and clearly not believed considering the stocks descent.

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