Insights

Eclipx (ASX:ECX) share price rises on positive business update

The Eclipx (ASX: ECX) share price is rising today after the company provided investors with a business update. Here are the highlights.
The post Eclipx (ASX:ECX) share price rises on positive business update appeared first on The Motley Fool Australia. –

asx share price inching higher represented by hand making gesture of small amount

Eclipx Group Ltd (ASX: ECX) shares are edging higher today after the fleet management company provided investors with a business update. At the time of writing, the Eclipx share price has inched 0.79% higher to $1.915.

How has Eclipx been performing?

Investors appear moderately pleased with the company’s latest progress, sending the Eclipx share price into positive territory today.

In its announcement, Eclipx advised that for the first five months of FY21, it continues to perform to expectations. Recently at its annual general meeting (AGM), the group provided investors with a business update on Q1 FY21.

It said that net operating income (NOI) and net operating profit after tax (NPATA) before end of lease (EOL) were in line with estimates. To date, the company has sustained this performance through to the end of February.

In further news bolstering the Eclipx share price, the company noted that EOL income has significantly increased over the period with robust trading conditions recorded from the used car market. A limited supply of new vehicles to market in Australia and New Zealand primarily drove the surge. As a result, Eclipx revealed that EOL income stood at $26.4 million, or $5,766 per unit at the end of February. This reflects a jump of 70% when compared to the first half of 2020, which saw EOL income at $15.5 million, or $2,468 per unit.

The company stated that the higher EOL income is temporary and will fall back to normal levels. According to independent third parties, ‘the global shortage for new cars could be restored from as early as June 2021’.

Eclipx is scheduled to report its half-year results sometime in the middle of May 2021.

About the Eclipx share price

The Eclipx share price has rallied by nearly 58% since this time last year. After hitting a low of 36.5 cents last March, Eclipx shares have steadily moved in an upward trend.

Based on the current share price, Eclipx commands a market capitalisation of roughly $618 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Eclipx (ASX:ECX) share price rises on positive business update appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!