In today’s briefing:
- Asian Dividend Gems: Eagle Nice International Holdings
- Duplicate of BWMX: 1Q Review: In-Line Q, With Multiple Positives (Updated); Reiterate Buy
- BWMX: 1Q Review: In-Line Q, With Multiple Positives; Reiterate Buy, $22.50 PT
- GTX: Humming and Flowing
Asian Dividend Gems: Eagle Nice International Holdings
- Eagle Nice International Holdings’ dividend yield averaged 9.2% from FY 2019 to FY 2023. Its annual dividend payout averaged 72.2% in the same period.
- Eagle Nice (Intl) Hldgs is mainly engaged in the design and manufacture of sportswear for adults and children on an OEM basis. Yue Yuen Industrial Holdings is the largest shareholder.
- Eagle Nice Holdings also has attractive valuations and consistent growth in sales and profits.
Duplicate of BWMX: 1Q Review: In-Line Q, With Multiple Positives (Updated); Reiterate Buy
- We are reiterating our Buy rating and $22.50 price target for Betterware after the company reported an impressive 1Q, with better than expected top line results.
- Further, management reiterated 2024 revenue and EBITDA guidance.
- There was also material progress at Betterware, which enjoyed double-digit increases in average ticket and revenue and is nearing the shift to positive growth in Associates.
BWMX: 1Q Review: In-Line Q, With Multiple Positives; Reiterate Buy, $22.50 PT
- We are reiterating our Buy rating and $22.50 price target for Betterware after the company reported an impressive 1Q, with better than expected top line results.
- Further, management reiterated 2024 EBITDA guidance and increased the upper end of the revenue range.
- There was also material progress at Betterware, which enjoyed double-digit increases in average ticket and revenue and is nearing the shift to positive growth in Associates.
GTX: Humming and Flowing
- GTX reported first quarter results exhibiting the sales decline management had been warning could appear in the first half of the year
- GTX managed to generate positive free cash flow to repurchase $109 million worth of the stock in the quarter. GTX has been routinely buying back stock with free cash flow.
- GTX maintained its annual guidance on all metrics with management asserting much of the growth would come in the second half of the year
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