FINANCIAL NEWS

ASX Winners And Losers Of Today – 28-03-24

The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day

Mar 28 2024


In Case You Missed It – BC Extra Upgrades & Downgrades – 28-03-24

A summary of the highlights from Broker Call Extra updates throughout the week past

Mar 28 2024


Australian Broker Call *Extra* Edition – Mar 28, 2024

Extra Edition of the Broker Call Report

Mar 28 2024


FNArena Corporate Results Monitor – 28-03-2024

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments

Mar 28 2024


The Short Report – 28 Mar 2024

FNArena’s weekly update on short positions in the Australian share market

Mar 28 2024


Bell Potter rates PTM as Upgrade to Buy from Hold

While management has been notified clients are looking to redeem -$1.4bn from funds under management (FUM) in the coming
months, Bell Potter has raised its target to $1.20 from $1.13.

The broker explains an expected -$20m reduction in costs from the company's first phase of a turnaround program has a large positive impact on earnings, due to operational gearing.

The -20% share price fall in reaction to the announced redemptions is overdone, believes Bell Potter, given an improving
risk/return trade outlook. The rating is upgraded to Buy from Hold.

UBS rates RWC as Buy

Despite Reliance Worldwide's recent share price performance, UBS remains positive on the stock, feeling an elevated multiple is less of a constraint amid improving earnings.

The broker sees the majority of Reliance Worldwide's earnings drivers as improving rather than declining, and believes the company's Euopean and Middle East holdings are moving closer to a recovery which should provide operating leverage.

The EMEA operations went through a restructure at the end of the first half to cater for further volume declines and a soft outlook, a move the broker feels was sensible and indicative that management has not wavered from its cost focus.

The Buy rating is retained and the target price increases to $6.50 from $5.40.

Citi rates WBC as Neutral

Citi suggests investors will have difficulty assessing the financial and operational progress of Westpac's Project Unite, which aims to simplify, reduce complexity and decommission duplicated technology systems.

The near-term impact of the project on the consensus FY25 cost forecasts will also be unclear, believe the analysts.

Management expects the group investment spend will rise to -$2bn per annum over FY25-28 from -$1.8bn in FY24. However, Citi reminds investors the bank has disappointed on costs in recent years, and management lacks credibility in this space.

The Neutral rating and target price of $22.25 are retained.

Click here to see full report

ANALYSIS & DATA

FNARENA'S MARKET CONSENSUS FORECASTS

To display the stock analysis for a company please enter the company code:

WBC | WESTPAC BANKING CORPORATION

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$26.00

27 Mar
2024

-0.240

OPEN

$26.24

-0.91%

HIGH

$26.33

7,309,058

LOW

$25.75

TARGET
$24.198 -6.9% downside
Franking for last dividend paid out: 100%
FNARENA'S MARKET CONSENSUS FORECASTS
WBC: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx N/A 190.6 xxx
DPS (cps) xxx N/A 144.3 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 13.7 xxx
Dividend Yield xxx N/A 5.5% xxx
Div Pay Ratio(%) xxx N/A 75.7% xxx

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DAILY FINANCIAL NEWS

FNArena Corporate Results Monitor – 28-03-2024

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments

Mar 28 2024 - Australia


Premier Investments’ first half earnings surprised brokers amidst a cost of living crisis. Management announced plans to separate the two growth drivers

Mar 27 2024 - Australia


The Chartist is bullish on oil prices but would like to see more upside conviction

Mar 27 2024 - Technicals


Michael Gable of Fairmont Equities notes the chart suggests shares in Fortescue Metals are yet again ready to rally higher

Mar 26 2024 - Technicals


Analysts have positive views on potential upside for the copper price based on recent news out of China and longer-term fundamentals

Mar 26 2024 - Commodities


Tim Boreham highlights Hydrix as one of the most innovative small-cap healthcare companies on the ASX

Mar 26 2024 - Small Caps


RUDI'S VIEWS

Rudi’s View: Facts & Fiction About Gold

In this week's Weekly Insights: -Facts & Fiction About Gold-Conviction Calls & Best Buys-Risk-On Bubble & Mid-Caps Outperformance By Rudi…

Mar 27 2024

DAILY MARKET REPORTS

ASX Winners And Losers Of Today – 28-03-24

The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day

Mar 28 2024


Australian Broker Call *Extra* Edition – Mar 28, 2024

Extra Edition of the Broker Call Report

Mar 28 2024


The Overnight Report: Another New High

Wall Street spun around last night, with the S&P500 up 0.9% to another new high after three weak sessions. (Available for non-subscribers after 10am)

Mar 28 2024


Today’s Financial Calendar – 28-03-2024

Significant Scheduled Events For 28 March, 2024

Mar 28 2024


ASX Winners And Losers Of Today – 27-03-24

The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day

Mar 27 2024


Australian Broker Call *Extra* Edition – Mar 27, 2024

Extra Edition of the Broker Call Report

Mar 27 2024


The Overnight Report: Failure To Launch

The S&P500 has slipped away for its third straight loss, down -0.3%. (Available for non-subscribers after 10am)

Mar 27 2024


WEEKLY REPORTS

In Case You Missed It – BC Extra Upgrades & Downgrades – 28-03-24

A summary of the highlights from Broker Call Extra updates throughout the week past

Mar 28 2024

The Short Report – 28 Mar 2024

FNArena’s weekly update on short positions in the Australian share market

Mar 28 2024

Next Week At A Glance – 1-5 April 2024

A brief look at important company events and economic data releases next week

Mar 28 2024


In Brief: M&A Beneficiaries, Retail, Optus, World Trade & Mortgage Stress

Weekly Broker Wrap: rising global capital markets activity; preferences within retail; impact from potential Optus takeover; resilient world trade; and mortgage stress

Mar 28 2024

Weekly Update On LICs & LITs – 26 March 2024

FNArena provides a weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX in the form of a comparables table, courtesy to Vested Equities/Banyantree Investment Group

Mar 26 2024

Uranium Week: Politics Dominates

The uranium market remains in a state of uncertainty, awaiting geopolitical developments

Mar 26 2024


Australian Listed Real Estate Tables – 25-03-2024

FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data

Mar 25 2024

Weekly Ratings, Targets, Forecast Changes – 22-03-24

Weekly update on stockbroker recommendation, target price, and earnings forecast changes

Mar 25 2024

Weekly Top Ten News Stories – 22 March 2024

Our top ten news stories from 14 March 2024 to 21 March 2024

Mar 22 2024


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THE MARKETS

    Click item/line to change chart

  • Australia

    29 March 2024   Updated : 07:42   AEDT

    SPI Overnight

    7930.00

    +60.00

    0.76%

    NZ50

    12105.290

    +94.630

    0.790%

    All Ordinaries

    8153.70

    +80.10

    0.99%

    S&P ASX 200

    7896.90

    +77.30

    0.99%

    S&P ASX 300

    7847.90

    +76.00

    0.98%

    Communication Services

    1579.10

    +22.50

    1.45%

    Consumer Discretionary

    3616.60

    +37.00

    1.03%

    Consumer Staples

    12357.90

    +89.50

    0.73%

    Energy

    10774.10

    +115.10

    1.08%

    Financials

    7458.60

    +27.90

    0.38%

    Health Care

    43439.00

    +214.90

    0.50%

    Industrials

    7181.20

    +77.40

    1.09%

    Info Technology

    2277.00

    +9.00

    0.40%

    Materials

    17941.90

    +317.80

    1.80%

    Real Estate

    3837.20

    +63.50

    1.68%

    Utilities

    8284.30

    +105.40

    1.29%

    A-REITs

    1743.60

    +29.60

    1.73%

    All Technology Index

    3095.70

    +15.70

    0.51%

    Banks

    3085.10

    +8.30

    0.27%

    Gold Index

    7242.30

    +178.70

    2.53%

    Metals & Mining

    5841.60

    +100.50

    1.75%

    Click item/line to change chart

  • Australasia

    29 March 2024   Updated : 07:42   AEDT

    AUD/USD

    0.6515

    +0.00

    0.39%

    AUD/NZD

    1.0909

    +0.00

    0.21%

    NZD/USD

    0.5973

    +0.00

    0.18%

    AUD/JPY

    98.64

    +0.36

    0.36%

    SGD/AUD

    1.14

    0.00

    -0.38%

    AUD/EUR

    0.6040

    +0.00

    0.37%

    AUD/GBP

    0.5162

    +0.00

    0.23%

    AUDCAD

    0.8824

    0.00

    -0.08%

  • World

    29 March 2024   Updated : 07:42   AEDT

    CAD/USD

    0.7384

    +0.00

    0.48%

    EUR/JPY

    163.32

    +0.00

    0.00%

    EUR/USD

    1.0788

    +0.00

    0.04%

    GBP/USD

    1.2623

    +0.00

    0.18%

    USD/JPY

    151.39

    -0.05

    -0.03%

    Click item/line to change chart

  • World

    29 March 2024   Updated : 07:42   AEDT

    FTSE100

    7952.62

    +20.64

    0.26%

    DAX30

    18492.49

    +15.40

    0.08%

    Hang Seng

    16541.42

    +148.58

    0.91%

    Nikkei 225

    40168.07

    -594.66

    -1.46%

    DJIA

    39807.37

    +47.29

    0.12%

    S&P500

    5254.35

    +5.86

    0.11%

    Nasdaq Comp

    16379.46

    -20.06

    -0.12%

    S&P500 VIX

    13.01

    +0.23

    1.80%

    US 10-year yield

    4.206

    +0.010

    0.240%

    USD Index

    104.29

    -0.03

    -0.03%

  • Aus Stocks

    29 March 2024   Updated : 07:42   AEDT

    Amcor (US)

    9.51

    +0.03

    0.32%

    Newmont (US)

    35.84

    +0.59

    1.67%

    Rio Tinto (UK)

    5017.00

    +39.00

    0.78%

    BHP Group (US)

    57.69

    +0.16

    0.28%

    Rio Tinto (US)

    63.74

    +0.28

    0.44%

    ResMed (US)

    198.03

    +1.70

    0.87%

    South32 (UK)

    154.60

    +2.60

    1.71%

    James Hardie (US)

    40.46

    +0.80

    2.02%

    Janus Henderson (US)

    32.89

    -0.09

    -0.27%

    Click item/line to change chart

  • Metals & Minerals

    28 March 2024   Updated : 07:40   AEDT

    Gold (oz)

    2194.10

    +18.90

    0.87%

    Silver (oz)

    24.58

    +0.24

    0.99%

    Copper (lb)

    3.9924

    +0.00

    0.02%

    Aluminium (lb)

    1.0386

    +0.00

    0.22%

    Nickel (lb)

    7.4893

    -0.02

    -0.29%

    Zinc (lb)

    1.1016

    +0.00

    0.20%

    Copper (t)

    8872.00

    +2.00

    0.02%

    Aluminium (t)

    2308.00

    +5.00

    0.22%

    Nickel (t)

    16643.00

    -49.00

    -0.29%

    Zinc (t)

    2448.00

    +5.00

    0.20%

    Uranium (lb) weekly

    88.00

    +2.00

    2.33%

    Iron Ore (t)

    101.61

    -2.80

    -2.68%

  • Energy

    28 March 2024   Updated : 07:40   AEDT

    West Texas Crude

    81.72

    +0.27

    0.33%

    Brent Crude

    86.35

    +0.33

    0.38%

CALENDAR

Friday, 29 March 2024
NZ markets closed
AU markets closed
JP industrial production, Feb
JP retail sales, Feb
CH PMIs, Mar
EZ markets closed
UK markets closed
US markets closed
US PCE inflation, Feb
Monday, 1 April 2024
NZ markets closed
AU markets closed
EZ markets closed

ALL WEATHER STOCKS

Code Company Price
CAR CAR GROUP LIMITED

$36.08

CSL CSL LIMITED

$287.92

REA REA GROUP LIMITED

$185.47

TNE TECHNOLOGY ONE LIMITED

$16.97

WOW WOOLWORTHS GROUP LIMITED

$33.17

WEEKLY PDF

Stories To Read From FNArena


WEEK 13

WEEK 12

WEEK 11

WEEK 10

WEEK 9

FNARENA TALKS

FNARENA WINDOWS

Window on APPAREL & FOOTWEAR

A Premier Result, With De-Mergers Next

Premier Investments’ first half earnings surprised brokers amidst a cost of living crisis. Management announced plans to separate the two growth drivers

Mar 27 2024


Window on CRUDE OIL

Crude Oil: On Watch

The Chartist is bullish on oil prices but would like to see more upside conviction

Mar 27 2024


Window on GOLD & SILVER

Rudi’s View: Facts & Fiction About Gold

In this week's Weekly Insights: -Facts & Fiction About Gold-Conviction Calls & Best Buys-Risk-On Bubble & Mid-Caps Outperformance By Rudi…

Mar 27 2024


FEATURE STORIES

Rudi’s Comprehensive February 2024 Review

A compilation of stories relating to the February 2024 corporate reporting season in Australia, including FNArena’s final balance for the season

Mar 27 2024