Board Change • Sep 15
High number of new directors Independent Non-Executive Director Mteto Nyati was the last director to join the board, commencing their role in 2022. Reported Earnings • Aug 30
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: R7.42 loss per share (down from R4.77 loss in FY 2020). Revenue: R77.6b (flat on FY 2020). Net loss: R1.60b (loss widened 55% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.5%. Over the next year, revenue is forecast to grow 4.0%, compared to a 8.9% growth forecast for the Consumer Retailing industry in South Africa. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Price Target Changed • Aug 30
Price target increased to R107 Up from R72.00, the current price target is an average from 2 analysts. New target price is 84% above last closing price of R58.30. Stock is down 1.1% over the past year. The company posted a net loss per share of R7.42 last year. Price Target Changed • May 26
Price target decreased to R63.33 Down from R72.00, the current price target is an average from 3 analysts. New target price is 78% above last closing price of R35.53. Stock is down 44% over the past year. The company is forecast to post earnings per share of R0.50 next year compared to a net loss per share of R7.42 last year. Price Target Changed • Apr 27
Price target decreased to R70.33 Down from R78.67, the current price target is an average from 3 analysts. New target price is 69% above last closing price of R41.67. Stock is down 23% over the past year. The company is forecast to post earnings per share of R1.08 next year compared to a net loss per share of R7.42 last year. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-executive Director Sindi Zilwa was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 19
Massmart Holdings Limited, Annual General Meeting, May 19, 2022 Massmart Holdings Limited, Annual General Meeting, May 19, 2022, at 12:00 South Africa Standard Time. Location: at The Protea Room, Massmart House, 16 Peltier Drive Sunninghill Ext 6 Sandton Sandton South Africa Price Target Changed • Mar 09
Price target decreased to R69.67 Down from R75.25, the current price target is an average from 3 analysts. New target price is 55% above last closing price of R45.05. Stock is down 22% over the past year. The company is forecast to post earnings per share of R3.00 next year compared to a net loss per share of R7.42 last year. Reported Earnings • Mar 08
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: R7.42 loss per share (up from R8.02 loss in FY 2020). Revenue: R77.6b (down 10% from FY 2020). Net loss: R1.60b (loss narrowed 7.8% from FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.9%, compared to a 9.0% growth forecast for the retail industry in South Africa. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 08
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: R7.42 loss per share (up from R8.02 loss in FY 2020). Revenue: R77.6b (down 10% from FY 2020). Net loss: R1.60b (loss narrowed 7.8% from FY 2020). Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.9%, compared to a 9.0% growth forecast for the retail industry in South Africa. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 42 percentage points per year, which is a significant difference in performance. Announcement • Feb 19
Massmart Holdings Limited to Report Fiscal Year 2021 Results on Mar 07, 2022 Massmart Holdings Limited announced that they will report fiscal year 2021 results on Mar 07, 2022 Announcement • Dec 22
Massmart Holdings Limited Provides Earnings Guidance for the 52 Weeks Ending 26 December 2021 Massmart Holdings Limited provided earnings guidance for the 52 weeks ending 26 December 2021. For the period, the company expects, with a reasonable degree of certainty, that its loss per share will be at least 20% or 160.4 cents per share worse that the reported loss per share in 2020 of 802.3 cents. Reported Earnings • Aug 29
First half 2021 earnings released: R3.65 loss per share (vs R4.11 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: R37.4b (up 6.1% from 1H 2020). Net loss: R787.4m (loss narrowed 12% from 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Executive Departure • Aug 28
Non-Independent Non-Executive Director Susan Muigai has left the company On the 27th of August, Susan Muigai's tenure as Non-Independent Non-Executive Director ended after 4.3 years in the role. We don't have any record of a personal shareholding under Susan's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 1.96 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Aug 28
Deputy Chair & Lead Independent Director Phumzile Langeni has left the company On the 27th of August, Phumzile Langeni's tenure as Deputy Chair & Lead Independent Director ended after 17.0 years in the role. We don't have any record of a personal shareholding under Phumzile's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 1.96 years, which is considered inexperienced in the Simply Wall St Risk Model. Announcement • Aug 25
Massmart in Talks to Buy Grocery Service OneCart Massmart Holdings Limited (JSE:MSM) is in advanced talks to buy a controlling stake in grocery delivery service OneCart PTY (Ltd)., the Walmart-owned retailer said on August 25, 2021. The group also said it hopes to conclude negotiations on the potential acquisition, which aligns with its strategy to boost its e-commerce growth, in the coming weeks. Major Estimate Revision • Mar 15
Analysts update estimates The company is forecast to report a profit instead of a loss in 2021 with analysts raising their consensus EPS forecasts from -R0.84 to R0.92. Revenue estimate was approximately flat at R90.7b. The Consumer Retailing industry in South Africa is expected to see an average net income growth of 26% next year. The consensus price target increased from R44.38 to R57.66. Share price is up 13% to R61.05 over the past week. Reported Earnings • Mar 10
Full year 2020 earnings released: R8.02 loss per share (vs R6.01 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: R86.5b (down 7.7% from FY 2019). Net loss: R1.74b (loss widened 33% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.1%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Over the next year, revenue is forecast to grow 5.8%, compared to a 11% growth forecast for the Consumer Retailing industry in South Africa. Is New 90 Day High Low • Mar 08
New 90-day high: R54.10 The company is up 46% from its price of R37.00 on 08 December 2020. The South African market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R72.66 per share. Announcement • Mar 07
An unknown buyer acquired an unknown stake in Massmart Holdings Limited (JSE:MSM) from Public Investment Corporation Limited. An unknown buyer acquired an unknown stake in Massmart Holdings Limited (JSE:MSM) from Public Investment Corporation Limited on March 5, 2021. Post completion of the deal, total interest in the ordinary shares held by Public Investment Corporation now amounts to 9.018% of the total issued ordinary shares of Massmart.
An unknown buyer completed the acquisition of an unknown stake in Massmart Holdings Limited (JSE:MSM) from Public Investment Corporation Limited on March 5, 2021. Is New 90 Day High Low • Feb 08
New 90-day high: R44.98 The company is up 14% from its price of R39.50 on 10 November 2020. The South African market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R72.49 per share. Is New 90 Day High Low • Dec 17
New 90-day high: R41.85 The company is up 41% from its price of R29.72 on 18 September 2020. The South African market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R75.26 per share. Price Target Changed • Dec 10
Price target raised to R34.08 Up from R30.50, the current price target is an average from 5 analysts. The new target price is 11% below the current share price of R38.46. As of last close, the stock is down 23% over the past year. Is New 90 Day High Low • Nov 05
New 90-day high: R35.83 The company is up 86% from its price of R19.24 on 07 August 2020. The South African market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Retailing industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is R69.49 per share. Announcement • Aug 21
Massmart Holdings Limited to Report First Half, 2020 Results on Aug 27, 2020 Massmart Holdings Limited announced that they will report first half, 2020 results on Aug 27, 2020 Announcement • Jul 17
Massmart Commences Consultation Process in Terms of Section 189 and 189A of the Labour Relations Act – Game Stores Massmart Holdings Limited announced that the Massmart Group has recently completed an assessment of opportunities to improve their South African Game store efficiencies. Consequent to this project, Massmart advises shareholders that the group has commenced, with respect to its Game stores in South Africa, a consultation process in terms of section 189 and section 189A of the Labour Relations Act 66 of 1995, as amended ("the LRA"); with organised labour and other relevant stakeholders. This process may potentially affect 1,800 employees in Game stores in South Africa. 