|Bid||33.35 x 3000|
|Ask||33.45 x 1400|
|Day's Range||33.20 - 33.68|
|52 Week Range||26.88 - 40.60|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||14.76|
|Earnings Date||Apr 17, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||2.32 (6.99%)|
|1y Target Est||39.77|
Hellman & Friedman and Blackstone have won over Scout24 after raising their offer for the online classifieds group to 5.7 billion euros ($6.4 billion) including debt, setting up the biggest takeover of a listed German company by private equity. The investors said in a statement on Friday that Scout24's management and supervisory board supported the sweetened bid of 46 euros a share. Last month, the German company rejected an offer of 43.50 euros per share.
It’s low on borrowed money and doesn’t even involve buying out all the target’s shareholders. The duo want to buy Scout24 AG, German a classifieds group they previously owned and took public in 2015. The knock-on effects for the likes of Scout24 are hard to predict.
The sweetened 46 euro-a-share bid from Hellman & Friedman and Blackstone Group LP -- which gives Scout24 an equity value of 4.9 billion euros -- will help the company better challenge rivals and grow across Europe, Scout24 Chief Executive Officer Tobias Hartmann said. The offer reflects a "joint long-term vision and ambition to turn Scout24 into a leading European digital player,” Hartmann said in a statement.
Hellman & Friedman and Blackstone have offered to buy online classifieds group Scout24 for 5.7 billion euros ($6.4 billion), including debt, potentially the biggest takeover of a listed German company by private equity. The investors said in a statement on Friday that Scout24's management and supervisory board support the sweetened bid of 46 euros a share, which the private equity firms said represented a premium of 27 percent to Scout24's unaffected share price.
German internet portal Scout24 said on Friday it will pursue a takeover offer by a consortium of finance investors Hellman & Friedman and Blackstone. The consortium, called Pulver BidCo, would act as a holding company jointly controlled by funds advised by Hellmann & Friedman and affiliates of the Blackstone Group, it said in an adhoc statement. Pulver BidCo was offering 46 euros per Scout24 share in cash to all shareholders.
India's cash-starved residential real estate market is set to get a boost from foreign and domestic private equity firms, which are lining up big bets worth hundreds of millions of dollars for the sector. The domestic residential real estate space has been in a rut for years with failed and delayed projects putting buyers off. Private equity firms are now swooping in to buy assets at attractive valuations, say industry insiders, as regulatory changes and a more dovish monetary policy outlook bode well for the sector.
that would return the German online classifieds company to its former private equity owners. a €43.50 per share bid from H&F and Blackstone. If this bid is accepted by shareholders, ownership of the company will revert to the two lead investors who floated Scout24 three years ago.
The novelist Richard Ford wrote that a market economy works not by giving people what they want, but by persuading them to feel good about having whatever happens to be available. Fully 80 per cent of the money that changed hands there last year was extended under what are known as “covenant lite” loans, a polite term for lending contracts that have had most of the investor protections ripped out. The safeguards in question are legal clauses that once enabled investors to grab the wheel if a company missed its financial forecasts or made other wrong turns.
Blackstone Group LP (BX), the world's largest and most diversified alternative asset manager, is a strong buy, asserts Crista Huff, growth and income expert and editor of Cabot Undervalued Stocks Advisor.
NEW YORK, Feb. 12, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (BXMT) today reported its fourth quarter and full year 2018 results. Net income for the fourth quarter was $74 million, or $0.61 per share, and for the full year was $285 million, or $2.50 per share. Stephen D. Plavin, Chief Executive Officer, said, "A strong fourth quarter capped an extraordinary year for BXMT.
Blackstone Group LP is backing a new hedge fund being run by former Eton Park partner Aaron Wertentheil with a $150 million (116 million pounds) commitment, two sources familiar with the matter said on Tuesday. Wertentheil is launching Jones Road Capital Management with roughly $300 million in assets, including the capital from Blackstone, plus money from Eric Mindich, his former boss at Eton Park, and an unidentified endowment, said one of the sources. New York-based Jones Road will concentrate on special situations investments in the corporate credit, government credit and equities markets, among others, the sources said.
Blackstone Group and Stonepeak Infrastructure Partners are circling communications infrastructure company Zayo Group Holdings Inc. once again. Previously, Zayo rejected a $6 billion-plus offer from the Blackstone-led consortium (NYSE: BX), which also includes KKR & Co.
After two years of declines, the region experienced growth in foreign direct investment last year, thanks to a revival of interest in South Africa and a more stable environment in Egypt. New York-based Blackstone Group LP is scaling back in Africa after less than five years. Bob Diamond, the former Barclays Plc chief, is turning his attention elsewhere after six years of struggle to get his banking venture off the ground.
Moody's Investors Service ("Moody's") affirmed the B3 Corporate Family Rating and B3-PD Probability of Default Rating for Ascend Learning, LLC ("Ascend Learning") following the company's proposed $300 million senior unsecured notes issuance. At the same time, Moody's upgraded the company's existing first lien senior secured credit facilities to Ba3 from B2 and affirmed the Caa2 rating on its existing $300 million senior unsecured notes due 2025. Additionally, Moody's assigned a Caa2 rating to the proposed $300 million senior unsecured notes due 2025.
The Federal Reserve is sounding alarms on the growing risks from loans to companies with poor credit ratings. "Someone's going to get hurt there," JPMorgan CEO Jamie Dimon said of the junk-loan market on a conference call last month.
Stuart Roden, a former chairman of Lansdowne Partners, is also backing Tresidor and will join as a non-executive chairman, the person said, asking not to be identified because the information is private. Spokesmen for Blackstone and Tresidor declined to comment.
A private equity consortium led by Blackstone Group LP and Hellman & Friedman LLC and a group that includes Advent International and Goldman Sachs Group Inc's buyout arm have advanced to the second round of bidding for Nielsen Holdings Plc, people familiar with the matter said on Friday. Nielsen said in September it would expand a review of strategic alternatives to include a sale of the entire television ratings company after coming under pressure to do so from hedge fund Elliott Management Corp, which in August reported it owned up to 8.4 percent of the company's shares. Private equity firms Apollo Global Management LLC and Bain Capital LP also went to the next round of bidding in the Nielsen auction, which is expected to be completed by March, the sources said.
A private equity consortium led by Blackstone Group LP and Hellman & Friedman LLC, as well as a grouping comprising Advent International and Goldman Sachs Group Inc's buyout arm, are through to the second round of bidding for Nielsen Holdings Plc, people familiar with the matter said on Friday. Nielsen said in September it would expand a review of strategic alternatives to include a sale of the entire TV ratings company, after coming under pressure to do so from hedge fund Elliott Management Corp. Private equity firms Apollo Global Management LLC and Bain Capital LP are also through to the next round of bidding in the auction for Nielsen, which is expected to be completed by March, the sources said.
The company's co-CEOs previously built and led the Permian Basin commercial water infrastructure platform for Anadarko and Western Gas.
Did you ever notice that sometimes it takes investors a little time to appreciate a company's performance in a given year? Take Boeing (NYSE:BA) for example. If rated on a scale of one to 10 in terms of financial and business success over the past year, it would have rated a 12. Yet, Boeing stock barely cracked a double-digit total return in 2018 -- up 11.7%, including a 2% dividend yield -- leaving some to wonder if China had pummeled the world's largest aircraft manufacturer into submission. Not by a long shot. Five weeks into 2019, Boeing stock is up 28% year to date through Feb. 5. As Matt Damon's character from Good Will Hunting would say, "How do you like them apples?"InvestorPlace - Stock Market News, Stock Advice & Trading TipsBoeing's record year shouldn't have come as a surprise to investors. I was talking about its stock as early as April, suggesting a $1,000 stock price wasn't an impossibility. Now, do I think that's going to happen in 2019? No, I do not. How about 2020? Doubt it. 2021? Doable but a bit of stretch. Buy now, and if Boeing management continue to execute at a high level and the economy doesn't collapse too severely, I would guess 2022 is the year Boeing stock hits $1,000. * 10 Monster Growth Stocks to Buy for 2019 and Beyond So, if you're thinking about buying its stock, here are seven reasons why you should. Boeing Reported Record SalesBoeing went over $100 billion in annual revenue for the first time in 2018; $101.1 billion to be exact, an 8% increase over fiscal 2017. Now, if you think 8% growth isn't a big deal, consider that works out to a $7.1 billion gain, about the same amount as the alternative asset manager Blackstone Group's (NYSE:BX) annual revenue. If Boeing's revenue growth were an S&P 500 company, it would have finished 398th in 2018. So, you might want to rethink just how good its record sales were. They were otherworldly. And that's just the top line. On the bottom line, Boeing's operating margins increased by 90 basis points in 2018 to 11.9%. For every dollar of Boeing's $101 billion in revenue, it generated nearly 12 cents in operating profits. In the fourth quarter alone, its operating margins jumped by 270 basis points to 14.7%. Expect them to keep moving higher. It Should Have a Strong Year AheadAs good as 2018 was, 2019 is expected to be even better. Last year, Boeing produced 806 aircraft, a company record. With 5,900 aircraft in its backlog, CEO Dennis Muilenburg is ramping up production. In 2019, it expects to create 895 aircraft, an 11% year-over-year increase. Amazingly, that works out to a plane getting built every ten hours -- for an entire year. That's a blistering pace by anyone's standards. Even with increased pace, it will still take Boeing close to seven years to bang out all the orders it has got. It's a nice problem to have."Our One Boeing focus, clear strategies for growth, and leading positions in large and growing markets, give us confidence for continued strong performance, revenue expansion and solid execution across all three businesses, which is reflected in our 2019 guidance," Muilenburg stated in the Q4 2018 press release. * The 9 Best Stocks to Invest In During a Manic Market Boeing expects $110.5 billion in revenue and $20.00 a share in core earnings at the midpoint for 2019 with operating margins as high as 15%, 310 basis points higher than in 2018.I'd call its outlook impressive. Wouldn't you? The Trade Dispute Is Not Slowing It DownAlthough the final quarter of 2018 was not kind to Boeing stock as fears of a protracted trade war between China and the U.S. would hurt the company's sales in the country, it appears those concerns, at least as it relates to Boeing, were wholly unfounded. "I can tell you -- having been intimately involved in the discussions and engagement with the governments both in the U.S. and China - we see progress on that front," Muilenburg said of the trade negotiations. "We see convergence, and we also see that there's clearly a mutual benefit to having a healthy aerospace industry for both the U.S. and China."The fact is, China needs Boeing as much or more than Boeing needs China. The country's expected to add one billion new passengers between now and 2040. That means it requires a lot more planes. Despite all the estimates of China's insatiable demand for aircraft -- it accounts for 18% of the demand for new aircraft globally -- those might actually be conservative providing Boeing with an even bigger cash cow than initially thought."China needs the airplanes for growth to fuel their economy and to meet their passenger growth and cargo growth needs," Muilenburg said.How do you meet an insatiable demand? You do. Boeing's got a fabulous problem that any CEO would love to have. The Defense Business Is Doing OkayThe supposed weak link in the Boeing chain is the company's defense business. It had seen revenues drop from $32.1 billion in 2007 to $21.1 billion a decade later. However, the company dug deep in 2018, winning several lucrative contracts, and increasing revenues by 13% in the process to $23.2 billion. In 2019, Boeing expects the defense unit to grow sales by 14%, delivering a second consecutive year of growth for the embattled division. Although these numbers are encouraging, the unit did see profits drop by 27% to $1.59 billion. As long as the commercial aircraft continues to push margins higher, shareholders will likely take the good with the bad. * 7 Stocks That Won Super Bowl Sunday In the long term, Boeing must address the defense business's margins. Global Services, the company's service business made a billion more than the defense business in 2018, on $6 billion less in sales. It Has Enormous Free Cash FlowBoeing's ability to generate free cash flow is something that I was relishing earlier in 2018. "In fiscal 2017, Boeing had $11.5 billion free cash flow, 85% of which was generated in the second through fourth quarters. If the same thing happens in 2018, Boeing should generate $18.3 billion in free cash flow," I wrote April 25 evaluating Boeing's Q1 2018 earnings. "Based on an enterprise value of $201.6 billion ($199.0 billion market cap, plus $12.5 billion debt, less $9.9 billion cash), Boeing has a forward FCF yield of 9.1%, which in my estimation puts it in value territory."OK, so my free cash flow estimate missed by several billion -- Boeing generated 80% of its free cash flow in the final three quarters of 2018, not 85% -- but it was still an impressive showing, upping FCF by $2 billion or 17% year over year. As for FCF yield, it currently is 5.7% [Free Cash Flow of $13.6 billion divided by Enterprise Value of $237.3 billion (Market cap of $233.4 billion plus total debt of $13.9 billion less $10 billion in cash, cash equivalents, and short-term investments)], which is pretty good considering it's gained 27% in five weeks. Assuming it hits the low-end of its outlook for operating cash flow in 2019 of $17 billion and allocates $2.3 billion to capital expenditures, free cash flow in 2019 should increase by 8% to $14.7 billion, bringing its FCF yield above 6%.Not bad for a tired old airplane manufacturer. BA Stock Is a Big Momentum PlayWhat's the old saying? A body in motion tends to stay in motion. That describes Boeing stock to a T. Each week, Canada's national newspaper, The Globe and Mail, produces an article about the week's most oversold and overbought stocks on the Toronto Stock Exchange. As Scott Barlow explains, a stock is thought to be oversold when its relative strength index (RSI) signal drops below 30 and overbought when it climbs above 70. For most of the past year, Boeing's RSI has been in a range between 30 and 75, rising above 70 on two occasions (October 2018, February 2019) and below 30 on a single occasion (November 2018). On a momentum basis, the chart suggests that BA is overbought at this point. * 10 F-Rated Stocks That Could Break Your Portfolio I've tried to highlight some of the reasons why investors should own Boeing in 2019 and beyond. Perhaps it will drop below $400 in the next few weeks. At that point, it will lose the "overbought" status and become a momentum buy once more. As I said earlier, Boeing is a potential $1,000 stock in the making. It's Investing in Supersonic JetsWho can forget the Concorde? That marvel of technology that could get a person from London to New York in less than 3.5 hours.Well, Boeing announced Feb. 5 that it had made a significant investment in Aerion, the Nevada-based developer of a supersonic business jet that's estimated to cost $120 million a pop. To get the plane ready for service, Boeing is going to provide engineering, manufacturing and flight testing services. The AS2 jet will fly at 1,000 miles per hour, an increase of 70% over current business jets. Also helping with the jet are General Electric (NYSE:GE) and Honeywell (NYSE:HON) who are responsible for the engines and cockpit respectively. Owned by Texas billionaire Robert Bass, consider this to be Boeing's version of a moonshot. As of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Are These 7 Dividend Aristocrats ETFs Fit for a King? * 7 of the Best Emerging Markets Stocks to Buy * 5 Gold Stocks That Should Glitter in 2019 Compare Brokers The post 7 Reasons You Want Boeing Stock in Your Portfolio appeared first on InvestorPlace.