ASX:EHE

ESTIA HEALTH LIMITED

Tim Hannon

"We're focussed on valuing the business rather than just the stock. Underlying that is our estimate of private market value, which is what an informed, rational investor would pay for the entire company" ~John Rogers, investor, philanthropist and founder of Ariel Capital Management Show More

Patrick Poke

Phil King thinks Zip is the best way to buy now, pay later; Telstra faces industrial action as it won't (can't?) give payrises that match inflation; growing concerns over China's "great wall of debt"; and the Royal Commission into aged care operators gets underway. Here's what's happening in markets today.... Show More

James Gerrish

The aged care space has been battered since late 2015 and Japara's (JHC) result yesterday did not help, with the stock falling 5.9% to $1.90. The question we ask ourselves is it time to step up and buy the sector which clearly should benefit from an ageing Australian population -... Show More

Mathan Somasundaram

Market moved up again despite negative global sentiment to deliver fourth straight positive day. Aussie market looks to be suffering from delusions of grandeur by maintaining the positive momentum despite falls in global markets, currency, volatility index and yields. We are in the school holiday period where most will take... Show More

Livewire Exclusive

With the end of the year in sight, it’s time to check in again on how the Livewire readers’ 2016 stock picks are tracking. The biggest observation is the pullback in the YTD mean performance across the sample, from 18.3% (Oct 19th) to 8.7% (Dec 5th). Only 35% of stocks... Show More

Totus Capital

At Totus we look to buy good businesses with tailwinds for earnings growth into the medium term. Generating new stocks ideas that meet our criteria is difficult and requires us to cast a wide net. We read widely, organise numerous company conference calls, attend company meetings, travel to conferences and... Show More

Livewire Exclusive

If running an effective quant screen was the only thing required to find new stocks ideas, investment success might not be as elusive as it is today. The fact is that investment idea generation is as much an art as it is a science. As Michael Hintze, Founder of $12... Show More

Livewire Exclusive

At the end of 2015 Livewire readers were asked to nominate their single highest conviction stock pick for 2016, as part of a survey asking for their predictions on how events would unfold in 2016. In this post we’ll check in to see just how well the collective stock picks... Show More

Morgans Financial Limited

Aged care operator, Estia Health, had a significant downgrade last week, Japara & Regis were also sold off, but have since recovered. The downgrade put some negative sentiment over the sector. Cuts to government spending in the long-term will hang over the sector for a while, but most of this... Show More

Patrick Poke

A number of analysts have downgraded Australia's aged care operators following a 'clarification' from the government on the types of fees that can be charged: https://agedcare.health.gov.au/programs/residential-care/charging-fees-for-additional-care-and-services-in-residential-aged-care-including-capital-refurbishment-type-fees Show More

Morgans Financial Limited

This year saw outstanding results from the hospital operators, in particular, Ramsay Healthcare (RHC). Results were at the top end of consensus forecasts, and expectations are for continued robust growth. Over the last 20 year, RHC has produced an average of 16% compound earnings growth, and this looks like it... Show More

Eley Griffiths Group

We participated in the $918m IPO of Reliance World Corporation (RWC) at 21x FY17 PE. RWC designs and manufactures ‘behind-the-wall’ plumbing fixtures in Australia, US, Canada and increasingly in Europe. The business has its origins in Australia where it predominantly served the wholesale/OEM channel (e.g. Reece, Tradelink). RWC enjoyed a... Show More

Andrew Macken

Australia’s residential aged care providers are seemingly simple businesses that operate provide accommodation and socially-imperative care for our elderly in return for a fee. However, the economics of these businesses are surprisingly complex. Probably the most confusing aspect relates to Refundable Accommodation Deposits (RADs). Think of RAD as a deposit... Show More

Livewire Exclusive

“One strongly performing part of our little market, where we’ve all milked great returns and complacency has set in is the aged care sector,” said Ben Griffiths, Portfolio Manager at Eley Griffiths Group, at the recent Livewire Live forum in Sydney. “It’s not a deep slumber, but certainly some complacency... Show More