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Aberdeen Asset Management plc : Breakout of the GBp 404 resistance

07/11/2013 | 04:30am
Opinion : Bullish above GBp 404
Target price : GBp 450
Stop loss: GBp 394
Investment Management & Fund Operators

Aberdeen' stock is well oriented and may reach its annual highs, in the coming trading session.

The company has a strong growth with more than 10% increase in sales in 2012 and more than 22% estimated for this year. Further, the profitability is improving with a net margin of 29.3% expected in 2013 compared to 24.5%. These two data are getting better and better as analysts from the Thomson Reuters consensus regularly revise upward their estimates.

Graphically, the trend is bullish in the long term with increasing 50 and 100-weeks moving averages. Prices has recently broken out the GBp 404.6 resistance and the 20-day moving average, which is turning up, may help the stock in this upward movement. Thus, the security seems to be able to reach the GBp 450 pivot point.

Most active investors can take a long position at the current price. Two objectives are reachable : GBp 450 then GBp 492. A stop loss must be fixed below the GBp 404.6 resistance.

Aberdeen Asset Management plc : Aberdeen Asset Management plc : Breakout of the GBp 404 resistance

© 2013

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Financial Ratios

Size 2015e 2016e
Capitalization 6 192 M GBP -
Entreprise Value (EV) 5 443 M GBP 5 192 M GBP
Valuation 2015e 2016e
PER (Price / EPS) 16,1x 14,6x
Capitalization / Revenue 4,92x 4,61x
EV / Revenue 4,32x 3,87x
EV / EBITDA 9,55x 8,38x
Yield (DPS / Price) 4,26% 4,72%
Price to book (Price / BVPS) 3,06x 2,88x
Profitability 2015e 2016e
Operating Margin (EBIT / Sales) 41,1% 42,2%
operating Leverage (Delta EBIT / Delta Sales) 0,44x 1,43x
Net Margin (Net Profit / Revenue) 29,7% 32,5%
ROA (Net Profit / Asset) 8,21% 8,87%
ROE (Net Profit / Equities) 21,2% 22,8%
Rate of Dividend 68,5% 68,7%
Balance Sheet Analysis 2015e 2016e
CAPEX / Sales   0,54% 0,51%
Cash Flow / Sales (Taux d'autofinancement) 43,8% 45,1%
Capital Intensity (Assets / Sales) 3,62x 3,67x
Financial Leverage (Net Debt / EBITDA) -1,31x -1,61x
Income Statement Evolution
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EPS Revisions
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