Yara International ASA

Yara International is a holding company. Through its subsidiaries, Co. converts energy, natural minerals and nitrogen from the air into products for farmers and industrial customers. Co. provides mineral fertilizers, industrial products and environmental products and services to its customers. Its mineral fertilizer portfolio, sold as five main brands (YaraMila, YaraLiva, YaraVita, YaraBela, YaraVera) represents a range of crop nutrients. Its industrial portfolio contains a range of nitrogen chemicals as well as CO2 and dry ice. Its environmental product and services reduce NOx emissions, control unpleasant odor, prevent toxic gases, avoid corrosion and improve water quality.
  • TickerYAR
  • ISINNO0010208051
  • ExchangeOslo Bors
  • SectorChemicals
  • CountryNorway

Analysts

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - 15% 2020e dividend yield

Following Yara’s updated dividend policy from the CMD we estimate a USD5/share EO dividend in 2020 and 2021, representing a dividend yield of 15%. We have also lifted our 2021e EBITDA by 5% (2019–20e flat) to reflect new growth targets. We reiterate our BUY and NOK480 target price as we see upside to consensus and as the stock is still trading at a 30% discount to CF.

Yara International ASA - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  Yara International ASA - September 2017 (LTM) 27 November 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

Yara International ASA - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  Yara International ASA - June 2017 (LTM) 24 August 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

Yara International ASA: Update to Discussion of Key Credit Factors

CORPORATES CREDIT OPINION 3 August 2017 Update RATINGS Yara International ASA Domicile Norway Long Term Rating Baa2 Type LT Issuer Rating - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Francois Lauras 44-20-7772-5397 VP-Sr Credit Officer [email protected]

Yara International ASA - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  Yara International ASA - March 2017 (LTM) 26 May 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Yara International ASA - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Yara International ASA - December 2016 (LTM) 21 April 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - 15% 2020e dividend yield

Following Yara’s updated dividend policy from the CMD we estimate a USD5/share EO dividend in 2020 and 2021, representing a dividend yield of 15%. We have also lifted our 2021e EBITDA by 5% (2019–20e flat) to reflect new growth targets. We reiterate our BUY and NOK480 target price as we see upside to consensus and as the stock is still trading at a 30% discount to CF.

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - A potential dividend machine

Our key takeaway from Yara’s CMD in London was the new dividend policy and its ambition to pay out excess cash to shareholders, as it now has committed to a capital structure. This could imply an extraordinary dividend of NOK70/share in 2021. It is also considering an IPO of the industrial assets, which could free up additional cash to shareholders.

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - Pivotal CMD ahead

We believe the upcoming CMD, on 26 June, could be pivotal for Yara as we expect management and the new board

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - Weaker start to the year

We expect Q1 EBITDA of USD468m, up 24% YOY but weaker than we previously expected due to soft European demand. However, urea prices are nearing the summer floor and Yara has confirmed that it will raise the improvement target at the next CMD. We reiterate BUY and our NOK480 target price but have lowered our underlying 2019–20e EBITDA by 2–5%.

Eivind Sars Veddeng

Yara (Buy, TP: NOK480.00) - Further improvements ahead

Yara finally reported in-line EBITDA, guided for USD1.2bn FCF improvement YOY, and is set to update its improvement targets by mid-2019. Gas costs are down nearly 16% in Europe YTD, offsetting any temporary effects from delayed ramp up of new projects. We keep our 2019–2020 estimates broadly unchanged and reiterate our BUY recommendation and NOK480 target price.

2 directors bought/maiden bought

Two Directors at Yara International Asa bought/maiden bought 4,450 shares at between 343.170NOK and 347.800NOK. The significance rating of the trade was 61/100. 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 restr...

Eivind Sars Veddeng ...
  • Frank Maaø
  • Håkon Astrup
  • Joachim Gunell
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Nothern Lights

Eivind Sars Veddeng ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Eivind Sars Veddeng ...
  • Ole Martin Westgaard
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Christer Magnergård
  • Eivind Sars Veddeng
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Eivind Sars Veddeng
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Patrik Ling
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

With a more favourable environment, YARA INTERNATIONAL ASA improves to Slightly Positive

YARA INTERNATIONAL ASA (NO), a company active in the Specialty Chemicals industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 11, 2019, the closing price was NOK 402.00 and its potential was estimated at NOK 423.58.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

ValuEngine Rating and Forecast Report for YARIY

Advanced academic research that brings you superior investment strategies in an actionable format. The most comprehensive and useful report available. ValuEngine`s three models: Valuation Model, Forecast Model and Ratings Model are incorporated to give you a well-rounded analysis from three different perspectives. Consensus EPS trend and Earnings Surprise statistics provide additional insights. Also, ValuEngine recommendation, Forecast analysis, Past performance, Evaluation and rankings, Comparison to industry, Comparison with peers, Analyst opinions, EPS consensus expectations, Company profil...

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Summary Chemicals Key Findings Chemicals Chemicals Reasons To Buys MarketLine Key Highlights Norway

Expert Corporate Governance Service (ECGS)

Yara International - AGM 07 May 2019

In general, Yara is in compliance with the Norwegian regulations relating to the organisation and procedures of the AGM. Under ITEM 4.1, the board of directors seeks approval of the Company's remuneration guidelines. The proposed remuneration structure is not in line with ECGS' guidelines. Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 4.2, the board of directors seeks approval of a share-based incentive plan. In view of the low level of transparency, specifically regarding the performance conditions applicable to the incentive plan, ECGS recommends to vote OPPOSE. Under ITEM 5, ap...

Yara International ASA – Proxinvest Corporate Governance Rating ® : B

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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