Twenty Seven Co Ltd
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Based in Australia
Company profile

Twenty Seven Co. Limited is an Australia-based mineral exploration company. The Company is focused on minerals exploration across licenses in Western Australia and New South Wales (NSW). Its Projects include Rover Project, Mount Dimer Gold Project, Yarbu Gold Project, and NSW Projects. The Rover Project is located approximately 30 kilometers (km) east of Sandstone in WA, which is a base metal and gold-rich mineral region associated with the Archean greenstone belts of the Central Yilgarn Craton. The Mount Dimer Gold Project consists of a mining lease (M77/515) and exploration license (E77/2383), located circa approximately 100 km North-East of Southern Cross. The Yarbu Gold Project is located on the Marda-Diemals greenstone belt adjacent to Ramelius Resources. The Company's NSW Projects consists of three prospects, such as Midas, Trident and Perseus, located in the Broken Hill Block in New South Wales.

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Revolve stock plunges 15% as delta variant, Apple iOS privacy rules pose a risk

8:01 am ET August 6, 2021 (MarketWatch)
Print

Tonya Garcia

Revolve could also get squeezed by Gen Z and millennial student loan debt, KeyBanc said.

Revolve Group Inc. stock plunged 15% on Thursday after the e-commerce fashion site was downgraded by no less than two analysts.

"On our near-term 'wall of worry,' we believe that a combination of delta, sunsetting student loan forbearance, and iOS privacy changes makes revenue upside less evident and margins look full," wrote KeyBanc Capital Markets in its note.

KeyBanc downgraded Revolve to sector weight from overweight.

Revolve (RVLV) announced second-quarter earnings after-hours Wednesday, reporting net income of $31.5 million, or 42 cents per share, up from $14.2 million, or 20 cents per share last year. Sales totaled $228.6 million, up from $142.8 million last year.

The FactSet consensus was for EPS of 21 cents and sales of $198.8 million.

See: Victoria's Secret soars in its first days as a stand-alone company, with shares up 29% (https://www.marketwatch.com/story/victorias-secret-soars-in-its-first-days-as-a-standalone-company-with-shares-up-33-11628100891?mod=mw_quote_news)

Active customers totaled 1.55 million, up from 1.53 million last year. And average order value rose to $255 from $204 last year.

Revolve Chief Executive Mike Karanikolas noted the company's record second-quarter sales in an earnings release statement. On the call, he highlighted some of the challenges the company is facing, including the surge in COVID infections and Apple Inc. (AAPL) policy changes.

"[T]he potential challenges presented by the recent Apple iOS changes that I mentioned last quarter started to become evident late in the quarter," he said, according to a FactSet transcript of the call. "So it's an area we'll continue to focus on with our advertising partners."

On the call following first-quarter results reported in May, Karanikolas said the iOS privacy changes Apple made were expected to result in some near-term headwinds on marketing efficiency.

KeyBanc says Revolve was the beneficiary of the millennial and Gen Z return to events and travel. However, budgets for these demographics are stretched thin. Student loan forbearance is expected to end in September. Nearly two-thirds of college students (65%) graduate with loan debt, with students loans representing 40% of debt held by 18-to-29-year olds in the U.S.

"The average monthly student loan payment is $393, according to the FRBCleveland, which may limit Gen Z/millennial's disposable income," analysts said.

Also: Victoria's Secret shows how reluctance to embrace the plus-size market can hurt an apparel business (https://www.marketwatch.com/story/victorias-secret-shows-how-reluctance-to-embrace-the-plus-size-market-can-hurt-an-apparel-business-11624987323?mod=article_inline)

Raymond James downgraded Revolve to outperform from strong buy based on valuation. Analysts raised their target price to $78 from $61.

Cowen analysts remain upbeat about the company, maintaining their outperform rating and raising their price target to $70 from $65.

"We believe Revolve is emerging from the pandemic stronger and with higher wallet share," analysts led by Oliver Chen wrote, calling the stock decline a buying opportunity.

Revolve stock has run up 94.7% for the year to date, far outpacing the S&P 500 index , which is up nearly 18% for the period.

-Tonya Garcia

	

(END) Dow Jones Newswires

August 06, 2021 08:01 ET (12:01 GMT)

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