Prabhudas Lilladher's research report on Tech Mahindra
Tech Mahindra delivered a strong set of results for 4QFY18 with revenue, EBIDTA margin and PAT above our estimates. Revenues at USD1244 mn were up 2.9% QoQ and above our ests (PLe: USD1240mn). Constant currency growth for the quarter stood at 1.7% QoQ. Telecom vertical (41.6% of total revenues) remained flat QoQ while Enterprise vertical (58.4% of total revenues) grew by 4.9% QoQ. EBIDTA margin at 17.5% was up 128bps QoQ and 550bps YoY and above our ests (PLe: 16.7%). PAT at Rs 12,220mn was 25% above our estimates. Strong PAT beat was also led by higher other income (led by one-off exceptional income from sale of land and higher forex gains) as well as lower tax rate for the quarter. Company continues to trim Employee count. Total Headcount came at 112,807 employees which is net reduction of 2,434 employees QoQ. IT service headcount came at 72,437 employees for 4QFY18 which is down 12% YoY. We believe that Headcount reduction and improvement in margins of subsidiaries (LCC and Comviva) have aided turnaround in margin trajectory in FY18.
Best Financial Stocks To Own Right Now: Infinity Property and Casualty Corporation(IPCC)
Infinity Property and Casualty Corporation, through its subsidiaries, provides personal automobile insurance with a concentration on nonstandard auto insurance in the United States. The company offers personal automobile insurance to individuals; mono-line commercial vehicle insurance to businesses; and classic collector insurance, which provides protection for classic collectible automobiles. It products provide coverage to individuals for liability to others for bodily injury and property damage, and for physical damage to an insured?s own vehicle from collision and various other perils. Infinity distributes its products primarily through a network of independent agencies and brokers. The company was founded in 2002 and is headquartered in Birmingham, Alabama.
Advisors' Opinion:- [By Stephan Byrd]
Infinity Property and Casualty (NASDAQ:IPCC) and Hartford Financial Services Group (NYSE:HIG) are both finance companies, but which is the better business? We will compare the two businesses based on the strength of their risk, profitability, earnings, dividends, institutional ownership, analyst recommendations and valuation.
- [By Shane Hupp]
Berkshire Hathaway Inc. Class B (NYSE: BRK.B) and Infinity Property and Casualty (NASDAQ:IPCC) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their institutional ownership, valuation, analyst recommendations, profitability, earnings, dividends and risk.
- [By Joseph Griffin]
ValuEngine lowered shares of Infinity Property and Casualty (NASDAQ:IPCC) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
Best Financial Stocks To Own Right Now: Lakeland Bancorp Inc.(LBAI)
Lakeland Bancorp, Inc. operates as the bank holding company of Lakeland Bank, which provides various commercial and consumer banking products and services to small and medium-sized businesses, professionals, and individuals primarily in northern New Jersey. The company's depository products include checking accounts, savings accounts, demand deposits, time deposits, NOW accounts, money market accounts, and certificates of deposit. It also offers short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, merchant credit card services, secured and unsecured loans, consumer installment loans, and commercial and industrial loans. In addition, the company provides wire transfer, Internet banking, night depository services, and safe deposit services; cash management services, such as remote capture of deposits and overnight sweep repurchase agreements; and investment and advisory s ervices. It operates 47 banking offices in Bergen, Essex, Morris, Passaic, Sussex, and Warren counties in New Jersey. The company was founded in 1969 and is headquartered in Oak Ridge, New Jersey.
Advisors' Opinion:- [By Joseph Griffin]
Lakeland Bancorp (NASDAQ:LBAI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.
- [By Joseph Griffin]
Lakeland Bancorp (NASDAQ:LBAI) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.
Best Financial Stocks To Own Right Now: Macatawa Bank Corporation(MCBC)
Macatawa Bank Corporation operates as the holding company for Macatawa Bank that provides various commercial and personal banking services. It offers various deposit products, which comprise checking accounts, savings accounts, time deposits, transaction accounts, savings and time certificates, non-interest bearing and interest bearing demand deposits, and money market accounts. The company?s loan portfolio comprises commercial and industrial loans, commercial real estate loans, construction and development loans, and multi-family and other non-residential real estate loans; residential mortgage loans; and consumer loans, including automobile loans, home equity lines of credit, installment loans, home improvement loans, deposit account loans, and other loans for household and personal purposes. It also provides cash management services, safe deposit boxes, travelers checks, money orders, and trust services; ATMs, Internet banking, telephone banking, and debit cards; and b rokerage services, including discount brokerage, personal financial planning, and consultation regarding mutual funds. In addition, the company offers personal trust services, such as financial planning, investment management services, trust and estate administration, and custodial services; and retirement plan services, including provision of various qualified retirement plans, such as profit sharing, 401(k)s, and pension plans. It operated a network of 26 branches and a lending and operation service facility in Kent, Ottawa, and northern Allegan counties of Michigan. The company was founded in 1997 and is headquartered in Holland, Michigan.
Advisors' Opinion:- [By Joseph Griffin]
Associated Banc (NYSE:ASB) and Macatawa Bank (NASDAQ:MCBC) are both finance companies, but which is the better stock? We will contrast the two companies based on the strength of their institutional ownership, risk, valuation, profitability, analyst recommendations, earnings and dividends.
- [By Max Byerly]
Chemical Financial (NASDAQ: CHFC) and Macatawa Bank (NASDAQ:MCBC) are both finance companies, but which is the better business? We will contrast the two businesses based on the strength of their dividends, earnings, institutional ownership, analyst recommendations, valuation, profitability and risk.
- [By Ethan Ryder]
BidaskClub upgraded shares of Macatawa Bank (NASDAQ:MCBC) from a buy rating to a strong-buy rating in a research note released on Friday morning.
Separately, Hovde Group set a $11.00 price target on Macatawa Bank and gave the stock a hold rating in a research report on Monday, January 29th.
Best Financial Stocks To Own Right Now: WSB Holdings Inc.(WSB)
WSB Holdings, Inc. operates as the holding company for The Washington Savings Bank, F.S.B. that provides various commercial banking products and services to middle income individuals, and small and middle income businesses in the United States. The company accepts various deposits, including consumer, small business, and commercial demand deposit accounts, as well as interest-bearing checking accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans It also originates first and second mortgage loans, land acquisition and development loans, commercial loans, construction loans, and consumer loans, as well as non-residential mortgage loans with emphasis on residential mortgage, and commercial and construction lending. In addition, the company involves in developing single family residential lots, as well as builds homes on certain lots on a contract basis. The company has five savings branches in Bowie, Waldorf, Crofton , Millersville, and Odenton in Maryland. WSB Holdings, Inc. was founded in 1982 and is based in Bowie, Maryland.
Advisors' Opinion:- [By Garrett Baldwin]
Markets have been under pressure once again by the U.S. Federal Reserve. Inflation levels are going through the roof… but the people in charge of managing it have been lying to Americans for years. Now it's time to get even. Money Morning Liquidity Specialist Lee Adler has the perfect way to make a lot of money when no one is looking. Read it here.
The Top Stock Market Stories for Wednesday In addition to Trump's concerns about China and trade, the President also stated that he is unsure whether a summit with North Korean leader Kim Jong-Un will take place as planned. Multiple media outlets this morning are questioning if the event will take place. The summit is tentatively planned for June 12. Banking stocks were on the move after Congress passed new laws designed to reduce regulations for thousands of financial institutions. The new rules will ensure that smaller banks are not facing the same strict rules as the bigger giants. The financial sector has been lobbying to changes to the Dodd-Frank Act since its inception after the 2008-09 financial crisis. Facebook Inc. (Nasdaq: FB) CEO Mark Zuckerberg met with members of the European Union on Tuesday. The CEO of the social media giant outraged European Parliament members after reportedly dodging questions about user privacy and the firm's collection of personal data. During the conversation, EU members questioned whether Facebook is a monopoly and pondered if the firm should be broken up due to antitrust concerns. Three Stocks to Watch Today: TGT, LOW, TIF Shares of Target Corporation (NYSE: TGT) fell nearly 6% after the retail giant fell short of earnings expectations before the bell. The firm reported earnings per share of $1.32. This figure missed Wall Street earnings expectations by six cents. The retail giant blamed poor spring weather for its performance and said that its bottom line has been impacted by the costs of upgrading its physical locations. Lowe's Companies (NYSE: LOW) stock gained
Best Financial Stocks To Own Right Now: Univest Corporation of Pennsylvania(UVSP)
Univest Corporation of Pennsylvania, through its subsidiaries, provides various financial solutions, including personal and business banking, online banking, residential mortgages, insurance products, and investment and wealth advisory solutions. It serves the financial needs of residents, businesses, and nonprofit organizations in Bucks, Chester, Montgomery, and Lehigh counties, Pennsylvania. The company accepts various deposit products that include non interest-bearing demand deposits, interest-bearing checking deposits, money market savings accounts, regular savings accounts, and time deposits. Its loan and lease portfolio comprises commercial, financial, and agricultural loans and leases; commercial and construction loans; residential loans; loans to individuals; and municipal loans and leases. Univest Corporation also offers lease financing, financial planning, investment management, insurance products, and brokerage services; and provides investment advisory services , which include discretionary investment consulting and management services, as well as engages in small ticket commercial finance business. It provides its services through 32 financial service centers, 12 retirement financial services centers, and 39 ATM locations. The company was founded in 1973 and is headquartered in Souderton, Pennsylvania.
Advisors' Opinion:- [By Logan Wallace]
TRADEMARK VIOLATION NOTICE: “Univest Financial Corp (UVSP) Shares Bought by Vanguard Group Inc.” was posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.tickerreport.com/banking-finance/4146556/univest-financial-corp-uvsp-shares-bought-by-vanguard-group-inc.html.
- [By Stephan Byrd]
BidaskClub upgraded shares of Univest Co. of Pennsylvania (NASDAQ:UVSP) from a strong sell rating to a sell rating in a research note released on Saturday.
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