Reporting update on 3 stocks- CRN, CAJ and MVF
Hi Firstly, thanks for your great work guys! Hoping you can convey your thoughts on how the following stocks reported recently and what you feel their outlook is. CRN, CAJ, MVF
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Answer
Hi Nick,
- Coronado Global Resources (CRN): Reported 2023 EBITDA of US$382m and NPAT US$156m, a slight beat on lower costs, with a final 0.5UScps dividend in-line. 2024
guidance was weaker than expected, likely taking a conservative approach, guiding to 16.4- 17.2Mt saleable production – the market was at the upper end. Lower guidancve on production has seen downgrades to earnings estimates in 24 & 25, but not material. We think there is value here but have a preference for Whitehaven (WHC) as we think the deal they’re currently executing is a good one. - Capitol Health (CAJ): Solid result at the top line however lower underlying net profit after tax relative to expectations driven by slightly higher costs offset to a degree by a lower tax rate; they saw upgrades, Macquarie increased to 32c price target, Wilsons to 27c and Ords 31c.
- Monash IVF (MVF): We haven’t had a chance to look at this result closely.
