ASX:HT1

Stock Analysis Report

Executive Summary

HT&E Limited, together with its subsidiaries, operates as a media and entertainment company in Australia and Hong Kong.

Snowflake

Fundamentals

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has HT&E's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-10.9%

HT1

-3.4%

AU Media

0.4%

AU Market


1 Year Return

-20.4%

HT1

-19.1%

AU Media

9.8%

AU Market

Return vs Industry: HT1 underperformed the Australian Media industry which returned -19.1% over the past year.

Return vs Market: HT1 underperformed the Australian Market which returned 9.8% over the past year.


Shareholder returns

HT1IndustryMarket
7 Day-10.9%-3.4%0.4%
30 Day-11.4%-6.4%-1.3%
90 Day-4.1%-13.0%-0.5%
1 Year-16.7%-20.4%-15.2%-19.1%16.1%9.8%
3 Year-25.6%-51.5%6.0%-15.8%36.1%17.9%
5 Year-49.2%-69.4%-8.9%-36.8%49.4%15.7%

Price Volatility Vs. Market

How volatile is HT&E's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is HT&E undervalued compared to its fair value and its price relative to the market?

33.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: HT1 (A$1.64) is trading below our estimate of fair value (A$2.47)

Significantly Below Fair Value: HT1 is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: HT1 is good value based on its PE Ratio (13.5x) compared to the Media industry average (16.5x).

PE vs Market: HT1 is good value based on its PE Ratio (13.5x) compared to the Australian market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: HT1 is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: HT1 is good value based on its PB Ratio (0.9x) compared to the AU Media industry average (1.3x).


Next Steps

Future Growth

How is HT&E forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

12.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: HT1's forecast earnings growth (12.2% per year) is above the savings rate (2.3%).

Earnings vs Market: HT1's earnings (12.2% per year) are forecast to grow faster than the Australian market (10.3% per year).

High Growth Earnings: HT1's earnings are forecast to grow, but not significantly.

Revenue vs Market: HT1's revenue (1.6% per year) is forecast to grow slower than the Australian market (3.6% per year).

High Growth Revenue: HT1's revenue (1.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: HT1's Return on Equity is forecast to be low in 3 years time (7.5%).


Next Steps

Past Performance

How has HT&E performed over the past 5 years?

17.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: HT1's earnings have grown by 17.7% per year over the past 5 years.

Accelerating Growth: HT1's earnings growth over the past year (2.5%) is below its 5-year average (17.7% per year).

Earnings vs Industry: HT1 earnings growth over the past year (2.5%) exceeded the Media industry -13.9%.


Return on Equity

High ROE: HT1's Return on Equity (7.2%) is considered low.


Return on Assets

ROA vs Industry: HT1's Return on Assets is below or equal to the Media industry average last year.


Return on Capital Employed

ROCE Improving: HT1's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is HT&E's financial position?


Financial Position Analysis

Short Term Liabilities: HT1's short term assets (A$174.1M) exceeds its short term liabilities (A$53.3M)

Long Term Liabilities: HT1's short term assets (174.1M) exceeds its long term liabilities (171.0M)


Debt to Equity History and Analysis

Debt Level: HT1 is debt free.

Reducing Debt: HT1 has no debt compared to 5 years ago when its debt to equity ratio was 82.8%.

Debt Coverage: HT1 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: HT1 has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: HT1 has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if HT1's debt is covered by short term assets.


Next Steps

Dividend

What is HT&E's current dividend yield, its reliability and sustainability?

4.27%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%2.4%markettop25%5.6%industryaverage5.4%forecastin3Years5.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: HT1's dividend (4.27%) is higher than the bottom 25% of dividend payers in the Australian market (2.44%).

High Dividend: HT1's dividend (4.27%) is low compared to the top 25% of dividend payers in the Australian market (5.59%).

Stable Dividend: HT1's dividend payments have been volatile in the past 10 years.

Growing Dividend: HT1's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (65.7%), HT1's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: HT1's dividends in 3 years are forecast to be covered by earnings (66.9% payout ratio).


Next Steps

Management

What is the CEO of HT&E's salary, the management and board of directors tenure and is there insider trading?

0.2yrs

Average management tenure


CEO

Ciaran Davis 0

4.2yrs

Tenure

AU$2,754,226

Compensation

Mr. Ciaran Davis has been the Chief Executive Officer HT&E Limited (formerly known as APN News & Media Limited) since August 20, 2015. Mr. Davis has been Managing Director and Executive Director of HT&E Li ...


CEO Compensation Analysis

Compensation vs. Market: Ciaran's total compensation ($USD1.89M) is above average for companies of similar size in the Australian market ($USD735.92K).

Compensation vs Earnings: Ciaran's compensation has increased by more than 20% in the past year.


Management Age and Tenure

0.2yrs

Average Tenure

Experienced Management: HT1's management team is not considered experienced ( 0.2 years average tenure), which suggests a new team.


Board Age and Tenure

1.0yrs

Average Tenure

59yo

Average Age

Experienced Board: HT1's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellAU$268,06930 Aug 19
Morgan Stanley, Investment Banking and Brokerage Investments
EntityCompany
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Max PriceAU$1.71
BuyAU$134,55330 Aug 19
Morgan Stanley, Investment Banking and Brokerage Investments
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Max PriceAU$1.72
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Colonial First State Asset Management (Australia) Limited
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Max PriceAU$1.72
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Perpetual Limited
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Max PriceAU$1.76
BuyAU$32,08316 Aug 19
Perpetual Limited
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Max PriceAU$1.76
BuyAU$1,544,72006 Aug 19
Realindex Investments Pty Limited
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Shares864,760
Max PriceAU$1.91
BuyAU$1,118,72005 Aug 19
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares634,021
Max PriceAU$1.76
BuyAU$2,903,73712 Jul 19
Spheria Asset Management Pty Ltd
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Shares1,651,245
Max PriceAU$1.81
SellAU$12,359,44303 Jul 19
Perpetual Limited
EntityCompany
Shares6,910,867
Max PriceAU$1.79
BuyAU$3,118,15303 Jul 19
Perpetual Limited
EntityCompany
Shares1,715,521
Max PriceAU$1.82
BuyAU$6,187,15821 Jun 19
Realindex Investments Pty Limited
EntityCompany
Shares3,308,591
Max PriceAU$1.87
BuyAU$2,946,30821 Jun 19
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares1,667,401
Max PriceAU$1.77
SellAU$105,05821 Jun 19
Realindex Investments Pty Limited
EntityCompany
Shares58,805
Max PriceAU$1.79
SellAU$2,068,84621 Jun 19
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares1,150,946
Max PriceAU$1.80
BuyAU$1,758,81617 May 19
Spheria Asset Management Pty Ltd
EntityCompany
Shares977,054
Max PriceAU$1.81
SellAU$126,58030 Apr 19
Spheria Asset Management Pty Ltd
EntityCompany
Shares69,330
Max PriceAU$1.85
BuyAU$7,162,54130 Apr 19
Spheria Asset Management Pty Ltd
EntityCompany
Shares4,119,634
Max PriceAU$1.79
BuyAU$29,28107 Mar 19
Roger Amos
EntityIndividual
Role
Member of the Board of Directors
Non-Executive Director
Shares16,250
Max PriceAU$1.80
SellAU$1,696,05419 Feb 19
Perennial Investment Partners Limited
EntityCompany
Shares1,008,669
Max PriceAU$1.88
BuyAU$130,45718 Feb 19
Hamish McLennan
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares73,000
Max PriceAU$1.79
SellAU$837,04911 Feb 19
Norges Bank Investment Management
EntityCompany
Shares521,068
Max PriceAU$1.61
SellAU$641,34028 Jan 19
Norges Bank Investment Management
EntityCompany
Shares408,223
Max PriceAU$1.61
BuyAU$13,864,62931 Dec 18
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares5,713,078
Max PriceAU$2.43
BuyAU$2,015,32131 Dec 18
Realindex Investments Pty Limited
EntityCompany
Shares950,413
Max PriceAU$2.12
SellAU$316,13731 Dec 18
Realindex Investments Pty Limited
EntityCompany
Shares126,462
Max PriceAU$2.50
SellAU$10,539,36831 Dec 18
Colonial First State Asset Management (Australia) Limited
EntityCompany
Shares4,299,038
Max PriceAU$2.51
SellAU$75,60328 Dec 18
Perennial Investment Partners Limited
EntityCompany
Shares48,533
Max PriceAU$1.56
BuyAU$977,50228 Dec 18
Perennial Investment Partners Limited
EntityCompany
Shares594,897
Max PriceAU$1.68
SellAU$6,124,84028 Dec 18
Spheria Asset Management Pty Ltd
EntityCompany
Shares2,411,905
Max PriceAU$2.54
BuyAU$38,674,24828 Dec 18
Spheria Asset Management Pty Ltd
EntityCompany
Shares17,266,804
Max PriceAU$2.24
BuyAU$6,814,56128 Dec 18
Orbis Investment Management Limited
EntityCompany
Shares3,196,703
Max PriceAU$2.39
SellAU$5,291,24228 Dec 18
Orbis Investment Management Limited
EntityCompany
Shares2,003,132
Max PriceAU$3.05
BuyAU$19,667,44426 Dec 18
Norges Bank Investment Management
EntityCompany
Shares6,625,059
Max PriceAU$2.97
BuyAU$198,17713 Dec 18
Perpetual Limited
EntityCompany
Shares112,337
Max PriceAU$1.76
SellAU$8,008,39513 Dec 18
Perpetual Limited
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Shares4,718,319
Max PriceAU$1.70
SellAU$4,017,48212 Dec 18
Perennial Investment Partners Limited
EntityCompany
Shares2,409,414
Max PriceAU$1.91
BuyAU$816,00512 Dec 18
Perennial Investment Partners Limited
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Shares437,701
Max PriceAU$1.86
BuyAU$2,297,81320 Nov 18
Perennial Investment Partners Limited
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Shares1,259,764
Max PriceAU$1.82
SellAU$89,06720 Nov 18
Perennial Investment Partners Limited
EntityCompany
Shares47,189
Max PriceAU$1.89
SellAU$1,638,33618 Nov 18
Perennial Investment Partners Limited
EntityCompany
Shares850,477
Max PriceAU$2.00
BuyAU$219,40918 Nov 18
Perennial Investment Partners Limited
EntityCompany
Shares108,883
Max PriceAU$2.02
SellAU$9,491,22114 Nov 18
Perpetual Limited
EntityCompany
Shares3,691,813
Max PriceAU$2.57
BuyAU$1,173,69914 Nov 18
Perpetual Limited
EntityCompany
Shares600,737
Max PriceAU$1.95

Ownership Breakdown


Management Team

  • Yvette Lamont

    Executive Officer

    • Tenure: 0.2yrs
    • Compensation: AU$800.90k
  • Ciaran Davis

    CEO, MD & Executive Director

    • Tenure: 4.2yrs
    • Compensation: AU$2.75m
  • Jeff Howard

    Executive Officer

    • Tenure: 0.2yrs
    • Compensation: AU$1.76m
  • Andy Nye

    Chief Financial Officer

    • Tenure: 0.2yrs
  • Jeremy Child

    Company Secretary & Group Taxation Manager

    • Tenure: 0.2yrs

Board Members

  • Hamish McLennan (53yo)

    Non-Executive Chairman

    • Tenure: 1yrs
    • Compensation: AU$49.68k
  • Roger Amos (71yo)

    Non-Executive Director

    • Tenure: 0.9yrs
    • Compensation: AU$11.62k
  • Ciaran Davis

    CEO, MD & Executive Director

    • Tenure: 4.2yrs
    • Compensation: AU$2.75m
  • Paul Connolly (59yo)

    Non-Executive Director

    • Tenure: 7yrs
    • Compensation: AU$121.34k
  • Belinda Rowe

    Non-Executive Director

    • Tenure: 0.7yrs

Company Information

HT&E Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: HT&E Limited
  • Ticker: HT1
  • Exchange: ASX
  • Founded:
  • Industry: Broadcasting
  • Sector: Media
  • Market Cap: AU$470.814m
  • Shares outstanding: 284.48m
  • Website: https://www.htande.com.au

Location

  • HT&E Limited
  • 100 William Street
  • Level 4
  • Sydney
  • New South Wales
  • 2011
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
HT1ASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 1992
PNHDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 1992
HT1CHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 1992

Biography

HT&E Limited, together with its subsidiaries, operates as a media and entertainment company in Australia and Hong Kong. It operates through three segments: Australian Radio Network, HK Outdoor, and Digital ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 10:31
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.