2024-05-19 08:28:58 ET
Summary
- Hochtief has streamlined its business and settled legacy projects after a few tumultuous years.
- The portfolio is de-risked which improves continuity albeit at a lower EBITDA margin.
- The reinstated dividends and improved risk profile are reflected in the share price leaving limited upside potential.
- Shareholder returns are expected mainly in the form of dividends, but the 3.5% net forward dividend yield is a little appealing compared to Treasuries.
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For further details see:
Hochtief: Improved Risk Profile Limits Upside Potential