Sandvik AB

Sandvik is organized into five business areas: Sandvik Mining, Sandvik Machining Solutions, Sandvik Materials Technology, Sandvik Construction and Sandvik Venture. Sandvik Mining specializes in equipment, tools and service for the mining industry. Sandvik Machining Solutions focuses on tools and tooling systems for metal cutting. Sandvik Materials Technology specializes in products made from stainless steel grades and special alloys. Sandvik Construction specializes in equipment, tools and service for the breaking, drilling and crushing niches. Sandvik Venture generates value by promoting growth of small and medium-sized businesses of particular interest to the Sandvik Group.
  • TickerSAND
  • ISINSE0000667891
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Engineering
  • CountrySweden

Analysts

SANDVIK AB receives two new qualifications and slightly improves to Neutral

The independent financial analyst theScreener just changed two ratings for the qualification of SANDVIK AB (SE), active in the Industrial Machinery industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 3 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date September 10, 2019, the closing price was SEK 151.15 and its expected value was estimated at SEK 145.31.

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Olof Larshammar

Sandvik (Hold, TP: SEK165.00) - Leverage works both up and down

We believe that Sandvik’s Q2 report raised some questions about how much it has improve structurally in the past years, given its very weak operational performance in SMS, which saw EBIT ex FX, NRI and M&A declining 17% YOY on -4% organic growth. We reiterate our HOLD recommendation and, on its lower valuation multiples and forecast, we have reduced our target price to SEK165 (180).

Olof Larshammar

Sandvik (Hold, TP: SEK165.00) -

We believe that Sandvik’s Q2 report raised some questions about how much it has improve structurally in the past years, given its very weak operational performance in SMS, which saw EBIT ex FX, NRI and M&A declining 17% YOY on -4% organic growth. We reiterate our HOLD recommendation and, on its lower valuation multiples and forecast, we have reduced our target price to SEK165 (180).

Denise Molina

Morningstar | Sandvik Reports Weak Second Quarter; Shares Overvalued

No-moat Sandvik missed expectations on revenue and EBIT with flat year-over-year revenue and a 2% decline in adjusted EBIT. Orders were down 5% year over year.  Similarly to other automotive suppliers so far this quarter, Sandvik saw a decline in demand from autos but also in general engineering. First-half revenue grew by 1%, below our 2% full-year forecasts. Full-year EBIT, however, is tracking in line with our full-year forecasts, as we have baked a slightly weaker margin than first-half results. While we expect to make minor adjustments to our forecasts, we do not expect this to change our...

Olof Larshammar

Sandvik (Hold, TP: SEK165.00) - Leverage works both up and down

We believe that Sandvik’s Q2 report raised some questions about how much it has improve structurally in the past years, given its very weak operational performance in SMS, which saw EBIT ex FX, NRI and M&A declining 17% YOY on -4% organic growth. We reiterate our HOLD recommendation and, on its lower valuation multiples and forecast, we have reduced our target price to SEK165 (180).

Olof Larshammar

Sandvik (Hold, TP: SEK165.00) -

We believe that Sandvik’s Q2 report raised some questions about how much it has improve structurally in the past years, given its very weak operational performance in SMS, which saw EBIT ex FX, NRI and M&A declining 17% YOY on -4% organic growth. We reiterate our HOLD recommendation and, on its lower valuation multiples and forecast, we have reduced our target price to SEK165 (180).

Denise Molina

Morningstar | Sandvik Reports Weak Second Quarter; Shares Overvalued

No-moat Sandvik missed expectations on revenue and EBIT with flat year-over-year revenue and a 2% decline in adjusted EBIT. Orders were down 5% year over year.  Similarly to other automotive suppliers so far this quarter, Sandvik saw a decline in demand from autos but also in general engineering. First-half revenue grew by 1%, below our 2% full-year forecasts. Full-year EBIT, however, is tracking in line with our full-year forecasts, as we have baked a slightly weaker margin than first-half results. While we expect to make minor adjustments to our forecasts, we do not expect this to change our...

Olof Larshammar

Sandvik (Hold, TP: SEK180.00) - Consensus orders too high

We do not expect the Q2 report to be a positive catalyst for Sandvik’s share price as we are 1% below consensus on adj. EBIT and 4% below on orders. Sandvik has clearly improved operationally in recent years, and become more agile with a lower breakeven point. However, we believe this is already priced in, and we reiterate our HOLD and SEK180 target price.

Olof Larshammar

Sandvik (Hold, TP: SEK180.00) - Consensus orders too high

Consensus orders too high

1 director bought

A director at Sandvik Ab bought 1,873 shares at 160.000SEK and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board m...

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Håkon Astrup
  • Jon Berggren
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Mattias Holmberg
  • Niclas Gehin
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Stefan Gauffin
  • Tomi Railo

Weak report across the board

Jesper Ingildsen ...
  • Joachim Gunell
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Rune Majlund Dahl

Northern Lights

Frank Maaø ...
  • Håkon Astrup
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Mats Bye
  • Mattias Holmberg
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Eivind Sars Veddeng ...
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Hoang Nguyen
  • Mattias Montgomery
  • Nicolai Farstad Olsen
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

Christer Magnergård ...
  • Eivind Sars Veddeng
  • Håkon Astrup
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Niclas Gehin
  • Ole-Andreas Krohn
  • Olof Larshammar

Northern Lights

SANDVIK AB receives two new qualifications and slightly improves to Neutral

The independent financial analyst theScreener just changed two ratings for the qualification of SANDVIK AB (SE), active in the Industrial Machinery industry. Its market behaviour has improved and can now be considered as moderately risky; its fundamental valuation receives an improved star rating and now shows 3 out of 4 stars. theScreener considers that these elements slightly improve the general evaluation, which passes therefore to Neutral. As of the analysis date September 10, 2019, the closing price was SEK 151.15 and its expected value was estimated at SEK 145.31.

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Expert Corporate Governance Service (ECGS)

Sandvik - AGM 29 April 2019

In general, Sandvik is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEMS 14.1-14.8, the (re-)election of the board of directors is proposed. In view of concerns over aggregate time commitments, ECGS recommends to vote OPPOSE to the (re-)election of: Ms. Marika Fredriksson (ITEM 14.3). Under ITEM 17, the board of directors seeks approval of the Company's executive remuneration guidelines. Although no (material) changes are proposed, ECGS is missing an actual LT component (with a performance measurement period of ...

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Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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