|Bid||5.70 x 0|
|Ask||4.88 x 0|
|Day's Range||5.37 - 5.59|
|52 Week Range||3.61 - 6.94|
|Beta (5Y Monthly)||0.66|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 26, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Oct 04, 2018|
|1y Target Est||7.78|
It's shaping up to be a tough period for Nufarm Limited (ASX:NUF), which a week ago released some disappointing...
Today we are going to look at Nufarm Limited (ASX:NUF) to see whether it might be an attractive investment prospect...
On 28 February 2020, Sumitomo Chemical revised downward its financial forecasts for the fiscal year ended March 2020 (fiscal 2019). Sumitomo Chemical's credit profile has in the past been supported by its diversified business portfolio, which has mitigated cyclicality in individual segments. At the same time, the company's debt has increased from a series of acquisitions, the latest being the approximate $3 billion (JPY330 billion) payment for the strategic alliance with Roivant Sciences Ltd. in December 2019, and the JPY70 billion acquisition of Nufarm Limited's (Ba3 developing) group companies in South America scheduled in the first half of 2020.
Nufarm shares rose as much as 56% on Monday morning, their best-ever intraday percentage gain, to a more than one-year high of A$6.94. Australian farming companies are struggling to boost cashflows as profits are hurt by severe dry weather that has threatened grain production across Australia's east coast. Nufarm has also taken a hit from flooding in parts of the United States, where it operates several plants.
The transaction is a securitization program sponsored by Nufarm Indústria Química e Farmacêutica S.A. (Nufarm Brasil, not rated), a subsidiary of Nufarm Limited (Nufarm, long-term rating Ba3, global scale, outlook stable).