Macron's Approval Rating Jumps 5 Points in Ipsos Poll
(Bloomberg) -- President Emmanuel Macron's approval rating jumped 5 points as worries among French citizens over international crises soared, according to a poll by Ipsos-Cesi école d'ingénieurs for La Tribune Dimanche newspaper.
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Support for Macron's actions rose to 27% in March, the survey published late Saturday showed. Concerns over international crises such as in Ukraine and the Middle East was among the top three issues for 33% of respondents, up from 17% in February.
US President Donald Trump has pared back support for Ukraine and has indicated that the US may step back from its traditional security role in Europe. The surprise move has sent European countries scrambling to boost defense spending and rethink their military positioning.
Support for French Prime Minister Francois Bayrou fell 2 points to 25%, according to Ipsos.
Ipsos surveyed 1,000 adults online on from March 12 through March 14. The margin of error was about 2.7 points.
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Yahoo
9 minutes ago
- Yahoo
IOI Corporation Berhad's (KLSE:IOICORP) Intrinsic Value Is Potentially 17% Below Its Share Price
IOI Corporation Berhad's estimated fair value is RM2.99 based on 2 Stage Free Cash Flow to Equity IOI Corporation Berhad's RM3.61 share price signals that it might be 21% overvalued The RM4.07 analyst price target for IOICORP is 36% more than our estimate of fair value Today we will run through one way of estimating the intrinsic value of IOI Corporation Berhad (KLSE:IOICORP) by taking the expected future cash flows and discounting them to today's value. Our analysis will employ the Discounted Cash Flow (DCF) model. Don't get put off by the jargon, the math behind it is actually quite straightforward. Remember though, that there are many ways to estimate a company's value, and a DCF is just one method. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows. Generally the first stage is higher growth, and the second stage is a lower growth phase. To start off with, we need to estimate the next ten years of cash flows. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Levered FCF (MYR, Millions) RM917.4m RM999.1m RM1.00b RM1.01b RM1.03b RM1.06b RM1.09b RM1.12b RM1.16b RM1.20b Growth Rate Estimate Source Analyst x2 Analyst x4 Analyst x4 Est @ 1.22% Est @ 1.95% Est @ 2.45% Est @ 2.81% Est @ 3.06% Est @ 3.23% Est @ 3.36% Present Value (MYR, Millions) Discounted @ 8.4% RM846 RM851 RM786 RM734 RM691 RM653 RM619 RM589 RM561 RM535 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = RM6.9b After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 3.6%. We discount the terminal cash flows to today's value at a cost of equity of 8.4%. Terminal Value (TV)= FCF2034 × (1 + g) ÷ (r – g) = RM1.2b× (1 + 3.6%) ÷ (8.4%– 3.6%) = RM26b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= RM26b÷ ( 1 + 8.4%)10= RM12b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is RM19b. To get the intrinsic value per share, we divide this by the total number of shares outstanding. Compared to the current share price of RM3.6, the company appears slightly overvalued at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at IOI Corporation Berhad as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 8.4%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. Check out our latest analysis for IOI Corporation Berhad Strength Earnings growth over the past year exceeded the industry. Debt is not viewed as a risk. Weakness Dividend is low compared to the top 25% of dividend payers in the Food market. Expensive based on P/E ratio and estimated fair value. Opportunity IOICORP's financial characteristics indicate limited near-term opportunities for shareholders. Threat Dividends are not covered by cash flow. Annual earnings are forecast to decline for the next 3 years. Valuation is only one side of the coin in terms of building your investment thesis, and it is only one of many factors that you need to assess for a company. It's not possible to obtain a foolproof valuation with a DCF model. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. Can we work out why the company is trading at a premium to intrinsic value? For IOI Corporation Berhad, we've put together three relevant factors you should assess: Risks: Every company has them, and we've spotted 2 warning signs for IOI Corporation Berhad (of which 1 is potentially serious!) you should know about. Future Earnings: How does IOICORP's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart. Other Solid Businesses: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid business fundamentals to see if there are other companies you may not have considered! PS. Simply Wall St updates its DCF calculation for every Malaysian stock every day, so if you want to find the intrinsic value of any other stock just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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Yahoo
9 minutes ago
- Yahoo
Be Sure To Check Out Able Global Berhad (KLSE:ABLEGLOB) Before It Goes Ex-Dividend
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Able Global Berhad (KLSE:ABLEGLOB) is about to trade ex-dividend in the next 3 days. Typically, the ex-dividend date is two business days before the record date, which is the date on which a company determines the shareholders eligible to receive a dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Meaning, you will need to purchase Able Global Berhad's shares before the 19th of June to receive the dividend, which will be paid on the 4th of July. The company's next dividend payment will be RM00.0175 per share, on the back of last year when the company paid a total of RM0.075 to shareholders. Last year's total dividend payments show that Able Global Berhad has a trailing yield of 5.0% on the current share price of RM01.51. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! As a result, readers should always check whether Able Global Berhad has been able to grow its dividends, or if the dividend might be cut. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. Able Global Berhad paid out a comfortable 33% of its profit last year. Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Fortunately, it paid out only 31% of its free cash flow in the past year. It's positive to see that Able Global Berhad's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. See our latest analysis for Able Global Berhad Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Stocks in companies that generate sustainable earnings growth often make the best dividend prospects, as it is easier to lift the dividend when earnings are rising. If earnings decline and the company is forced to cut its dividend, investors could watch the value of their investment go up in smoke. With that in mind, we're encouraged by the steady growth at Able Global Berhad, with earnings per share up 7.6% on average over the last five years. The company is retaining more than half of its earnings within the business, and it has been growing earnings at a decent rate. We think this is generally an attractive combination, as dividends can grow through a combination of earnings growth and or a higher payout ratio over time. Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. In the past 10 years, Able Global Berhad has increased its dividend at approximately 19% a year on average. We're glad to see dividends rising alongside earnings over a number of years, which may be a sign the company intends to share the growth with shareholders. Has Able Global Berhad got what it takes to maintain its dividend payments? Earnings per share growth has been growing somewhat, and Able Global Berhad is paying out less than half its earnings and cash flow as dividends. This is interesting for a few reasons, as it suggests management may be reinvesting heavily in the business, but it also provides room to increase the dividend in time. We would prefer to see earnings growing faster, but the best dividend stocks over the long term typically combine significant earnings per share growth with a low payout ratio, and Able Global Berhad is halfway there. There's a lot to like about Able Global Berhad, and we would prioritise taking a closer look at it. In light of that, while Able Global Berhad has an appealing dividend, it's worth knowing the risks involved with this stock. For example, we've found 1 warning sign for Able Global Berhad that we recommend you consider before investing in the business. Generally, we wouldn't recommend just buying the first dividend stock you see. Here's a curated list of interesting stocks that are strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
15 minutes ago
- The Hill
Trump says it's ‘about time' US celebrates victories at military parade
President Trump on Saturday touted the might of the U.S. Army at the end of a two-hour parade to mark the 250th anniversary of the branch, framing it as a celebration of the country's military successes. 'Every other country celebrates their victories. It's about time America did, too,' Trump said in prepared remarks. 'That's what we're doing tonight.' Saturday's event came amid turmoil at home and on the world stage, but there was no mention from Trump of outside events. He spoke for about eight minutes, focusing on the Army's origins and several specific instances of bravery from soldiers in wars throughout American history. 'Watching this magnificent display, our souls are filled with gratitude for every generation of warriors who have worn the uniform back to the very beginning,' Trump said. Trump watched the parade from a viewing stand on Constitution Avenue. Other officials sitting with the president included Defense Secretary Pete Hegseth, Vice President Vance, Secretary of State Marco Rubio, Homeland Security Secretary Kristi Noem and first lady Melania Trump. At the conclusion of his remarks, Trump and the first lady were presented with a folded American flag from a service member. Vance, who served in the Marines, also delivered brief introductory remarks before Trump, nodding to the MAGA movement's anti-interventionist bent. 'To our soldiers, we're so proud of you. And let me tell you, the way that we honor and respect you, number one, we never ask you to go to war unless you absolutely have to,' Vance said. 'And number two, when we do ask you to go to war, we give you the weapons and the support needed to kick the hell out of the enemy and come back home safely,' he added. The president looked on as various military vehicles rolled down the street, including Sherman tanks and Howitzers. The U.S. Army Golden Knights parachuted onto the Ellipse near the parade route, landing near Trump's riser. Various groups of soldiers marched along the street, with Trump standing to salute at multiple points. The parade had been clouded by forecasts of stormy weather on Saturday evening. And while a few raindrops fell, severe storms held off and allowed the event to proceed mostly as planned with thousands of onlookers gathered along the parade route. The event was ostensibly to celebrate the Army's 250th anniversary, but it in recent months became intertwined with Trump himself, especially given it fell on his 79th birthday. Critics questioned the sizable price tag and likened the display to similar events in authoritarian nations like Russia and North Korea. Anti-Trump 'No Kings' demonstrations took place across the country, with thousands of protesters showing up in major cities like Chicago, Philadelphia, New York and elsewhere. Hours before the parade began, the nation was rocked by political violence after former state House Speaker Melissa Hortman (D) and her husband were killed in what Gov. Tim Walz (D) called a 'politically motivated' attack. And tensions were rising in the Middle East after Israel and Iran in recent days traded missile strikes. Trump did not mention the conflict abroad, the violence in Minnesota or the protests during his remarks on Saturday evening. Earlier in the day he said he was briefed on the shooting in Minnesota and said such 'horrific violence will not be tolerated in the United States of America.'
