FINANCIAL NEWS
Bumper Supply Constraining Childcare Profits
Benefits of government subsidy increases are likely to be constrained in the near term for childcare centres, as supply is overwhelming demand.
12:33 PM
Treasure Chest: Market Undervaluing Ramsay
FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. Perceived headwinds have led the market to downgrade Ramsay Health Care to five-year low multiples. Wilsons believes this is too low.
11:58 AM
Share Buybacks – Who’s Doing It?
Weekly Update on ASX-listed companies buying in their own stock.
10:59 AM
Is The Banks’ Crucifixion Over?
Peter Switzer of the Switzer Super Report outlines the views of those who believe bank share prices have now fallen too far.
10:34 AM
Finding Opportunities In A Heavily Polarised Market
In this week's Weekly Insights (published in two parts): -Finding Opportunities In A Heavily Polarised Market -Growth Or Weakness? –Conviction…
10:00 AM
Morgans rates GNC as Hold
Morgans revises forecasts following the release of ABARES' 2018/19 winter crop forecast. The company now looks set to face two consecutive seasons that are well below average. Extremely low carry-over grain will also impact on FY20.
The broker believes existing shareholders will need to be patient to ride out the seasons, maintaining a Hold rating. For new investors the broker would be a buyer closer to $7.00. Target is reduced to $7.50 from $8.00.
Credit Suisse rates IAG as Neutral
IAG will sell its interests in Thailand, Indonesia and Vietnam. Credit Suisse suspects the sale price for the loss-making Vietnam operations was probably minimal, given it was undisclosed, while the sale price for the total Thai and Indonesian Holdings was $525m.
The sale of the three assets is expected to add at least 13 basis points to the company's pro-forma first half CET1 ratio. The broker downgraded to a Neutral rating after the first half result on the basis of valuation and opts to remain on the sidelines until there is increased confidence around the premium rate environment. Target is $7.50.
UBS rates RIO as Buy
UBS found no surprises in its visit to the Rio Tinto Pilbara iron ore system. The focus on value over volume remains in place, and from mine to port the infrastructure is continuously being improved. However, this is getting harder and cost pressures are mounting.
The company remains positive about the market, given supply-side reforms in China and that country's environmental policy. AutoHaul is tracking towards completion by the end of this year. Buy rating and $90 target maintained.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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IAG | INSURANCE AUSTRALIA GROUP LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$8.46 20 Jun |
OPEN $8.46 |
HIGH $8.49 |
1,958,437 LOW $8.40 |
0.040| TARGET | |||
| $7.591 -10.3% downside | |||
| Franking for last dividend paid out: 100% |
| Title | FY16 Actual |
FY17 Actual |
FY18 Forecast |
FY19 Forecast |
|---|---|---|---|---|
| EPS (cps) | 25.8 | 39.0 | 43.5 | 42.6 |
| DPS (cps) | 26.0 | 33.0 | 32.4 | 35.5 |
| EPS Growth | - 17.4% | 51.3% | 11.4% | - 1.9% |
| DPS Growth | - 10.3% | 26.9% | - 1.9% | 9.8% |
| PE Ratio | N/A | N/A | 19.5 | 19.8 |
| Dividend Yield | N/A | N/A | 3.8% | 4.2% |
| Div Pay Ratio(%) | 100.8% | 84.6% | 74.4% | 83.4% |
DAILY FINANCIAL NEWS
Bumper Supply Constraining Childcare Profits
Benefits of government subsidy increases are likely to be constrained in the near term for childcare centres, as supply is overwhelming demand.
12:33 PM - Australia
FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. Perceived headwinds have led the market to downgrade Ramsay Health Care to five-year low multiples. Wilsons believes this is too low.
11:58 AM - Treasure Chest
Is The Banks’ Crucifixion Over?
Peter Switzer of the Switzer Super Report outlines the views of those who believe bank share prices have now fallen too far.
10:34 AM - FYI
The launch of Amazon Prime, ahead of expectations, suggests to brokers the company is serious and confident regarding delivery of its business model to Australians.
Jun 19 2018 - Australia
South32 has taken control of Arizona Mining, which provides a base metal opportunity and expands its geographic base.
Jun 19 2018 - Australia
Gold miners are facing the headwind of sharp increases in costs in the years ahead.
Jun 19 2018 - Australia
RUDI'S VIEWS
Finding Opportunities In A Heavily Polarised Market
In this week's Weekly Insights (published in two parts): -Finding Opportunities In A Heavily Polarised Market -Growth Or Weakness? –Conviction…
10:00 AM
DAILY MARKET REPORTS
The Overnight Report: Escalation
Trade war fears grew ever stronger across the globe yesterday as Trump’s administration slaps tariffs on another US$200bn of Chinese exports and threatens US$200bn more. Dow down -287.
9:00 AM
The Overnight Report: Shifting Positions
Wall Street saw a shift out of trade war-impacted sectors into calmer waters last night. Dow down -103.
Jun 19 2018
The Monday Report
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Jun 18 2018
The Overnight Report: Doves Still Rule
The ECB has confounded by announcing the end of QE, but not of negative interest rates. Dow down -25.
Jun 15 2018
WEEKLY REPORTS
Share Buybacks – Who’s Doing It?
Weekly Update on ASX-listed companies buying in their own stock.
10:59 AM
Uranium Week: No Immediate Need
The US regulator has criticised the president’s directive that would see electricity providers forced to buy nuclear power.
Jun 19 2018
Australian Listed Real Estate Tables
FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data.
Jun 18 2018
Weekly Ratings, Targets, Forecast Changes
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
Jun 18 2018
Next Week At A Glance
A brief look at important company events and economic data releases next week.
Jun 15 2018
The Wrap: EVs, Health Insurance & Real Estate
Weekly Broker Wrap: electric vehicles; health insurance; credit crunch; and real estate listings.
Jun 15 2018
The Short Report
FNArena’s weekly update on short positions in the Australian share market.
Jun 14 2018
Australian Corporate Bond Price Tables
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
Jun 14 2018
THE MARKETS
-
Asia
20 June 2018 Updated : 13:42 AEDT
NZ50
8908.700
+45.460
0.510%
Nikkei 225
22287.42
+8.94
0.04%
Hang Seng
29578.04
+109.89
0.37%
-
World
20 June 2018 Updated : 13:42 AEDT
CAD/USD
0.7529
-0.00
-0.21%
EUR/JPY
127.47
+0.53
0.42%
EUR/USD
1.1576
+0.00
0.21%
GBP/USD
1.3160
-0.00
-0.10%
USD/JPY
110.12
+0.26
0.24%
-
Aus Stocks
20 June 2018 Updated : 13:42 AEDT
BHP (UK)
1642.20
-36.80
-2.19%
Rio (UK)
4123.11
-134.89
-3.17%
BHP (US)
47.64
-1.33
-2.72%
Rio (US)
54.95
-2.11
-3.70%
ResMed (US)
106.10
-0.20
-0.19%
South32 (UK)
206.00
-8.00
-3.74%
James Hardie (US)
16.06
-0.13
-0.80%
Telstra (US)
10.78
+0.04
0.37%
Westpac (US)
20.72
-0.22
-1.05%
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CALENDAR
Wednesday, 20 June 2018
NZ current account, Q1 AU RBA governor speaks JP minutes of BoJ meeting US existing home sales, May SYD traffic stats TLS trading update Thursday, 21 June 2018
NZ GDP, Q1 AU ASX futures and index options expiry UK BoE policy meeting US Conference Board leading indicators, May US FHFA house price index, Apr US Philadelphia Fed mfg index, Jun ALL WEATHER STOCKS
Code Company Price AMC AMCOR LIMITED 
$14.05
ARB ARB CORPORATION LIMITED 
$22.89
CSL CSL LIMITED
$193.34
REA REA GROUP LIMITED
$91.44
RMD RESMED INC
$14.39
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FNARENA TALKS
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FNARENA WINDOWS
Window on CHILDCARE
Bumper Supply Constraining Childcare Profits
Benefits of government subsidy increases are likely to be constrained in the near term for childcare centres, as supply is overwhelming demand.
12:33 PM
Window on HEALTHCARE SERVICES
Treasure Chest: Market Undervaluing Ramsay
FNArena’s Treasure Chest reports on money making ideas from stockbrokers and other experts. Perceived headwinds have led the market to downgrade Ramsay Health Care to five-year low multiples. Wilsons believes this is too low.
11:58 AM
Window on BANKS
Is The Banks’ Crucifixion Over?
Peter Switzer of the Switzer Super Report outlines the views of those who believe bank share prices have now fallen too far.
10:34 AM
SMSFUNDAMENTALS
SMSFundamentals: Why Do You Not Own Corporate Bonds?
Corporate bonds are highly suitable as a portfolio allocation for retirement investors and interest is growing, despite many Australians being unaware of their existence.
May 29 2018