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| Goldman tips downside risks to Golden Agri earnings |
| Written by Dow Jones & Co, Inc | |||||
| Thursday, 01 November 2012 15:08 | |||||
Goldman Sachs tips downside risks to Golden Agri’s earnings after its subsidiary, Sinar Mas Agro Resources (SMART), reported 3Q12 results. It notes SMART, which comprised about 32% of Golden Agri’s 2011 fresh-fruit-bunch production and owns all of its refineries, reported 3Q12 core net profit excluding forex rose 1% on-quarter to IDR513 billion ($65.2 million), with 10% on-quarter FFB production growth and 29% on-quarter sales growth offset by EBIT margins’ decline to 10% from 2Q12’s 12%. While noting SMART is only one part of Golden Agri’s operations, with its earnings trend not necessarily reflecting the wider group, GS adds the flat on-quarter performance indicates downside risks to its 2012 forecasts, which are in-line with consensus, especially if the refineries didn’t sell through and liquidate as much inventory as expected. The house expects Golden Agri to report 3Q12 core net profit of US$151 million ($184.3 million), up 33% on-quarter, on seasonally higher production and strong volume sales offset by lower CPO prices results are due Nov 12. Goldman keeps a Neutral call. The stock is down 1.6% at $0.62 with 59.5 million shares changing hands. |
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THE DAILY EDGE Business Goldman tips downside risks to Golden Agri earnings
THE DAILY EDGE Business Goldman tips downside risks to Golden Agri earnings | Goldman tips downside risks to Golden Agri earnings |
Tags: Golden Agri-Resources
| Written by Dow Jones & Co, Inc | |||||
| Thursday, 01 November 2012 15:08 | |||||
Goldman Sachs tips downside risks to Golden Agri’s earnings after its subsidiary, Sinar Mas Agro Resources (SMART), reported 3Q12 results. It notes SMART, which comprised about 32% of Golden Agri’s 2011 fresh-fruit-bunch production and owns all of its refineries, reported 3Q12 core net profit excluding forex rose 1% on-quarter to IDR513 billion ($65.2 million), with 10% on-quarter FFB production growth and 29% on-quarter sales growth offset by EBIT margins’ decline to 10% from 2Q12’s 12%. While noting SMART is only one part of Golden Agri’s operations, with its earnings trend not necessarily reflecting the wider group, GS adds the flat on-quarter performance indicates downside risks to its 2012 forecasts, which are in-line with consensus, especially if the refineries didn’t sell through and liquidate as much inventory as expected. The house expects Golden Agri to report 3Q12 core net profit of US$151 million ($184.3 million), up 33% on-quarter, on seasonally higher production and strong volume sales offset by lower CPO prices results are due Nov 12. Goldman keeps a Neutral call. The stock is down 1.6% at $0.62 with 59.5 million shares changing hands |
[Trading Central] Golden Agri-Resources: short term rebound towards 0.679
23 Oct 2012 08:51
Our preference: short term rebound towards 0.679.
| Short Term View (Rise, Limited Rise, Consolidation, Limited Decline, Decline) |
Limited Rise |
|---|---|
| Change In Short Term View | None |
| Medium Term View (Bullish, Range, Bearish) |
Bearish |
| Change In Medium Term View | None |
Our pivot point stands at 0.606.
Our preference: short term rebound towards 0.679.
Alternative scenario: the downside breakout of 0.606 would call for 0.582 and 0.568.
Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the share stands below its 20 and 50 day MA (respectively at 0.64 and 0.67).
Supports and resistances:
0.693 *
0.679 **
0.664
0.635 last
0.616
0.606 **
0.582 *
Copyright 1999 - 2012 TRADING CENTRAL
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Hi Bishan22,
Noted. Thanks for the infor. Cheers.
bishan22 ( Date: 10-Oct-2012 10:56) Posted:
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thnx bishan22 
bishan22 ( Date: 10-Oct-2012 10:56) Posted:
|
Always take news as a pinch of salt. Wait for upside before plunging in. Now it is still bottomless. The recent IMF downgrade added more salt to the wound. Good luck. 
scage11 ( Date: 10-Oct-2012 09:19) Posted:
|