FINANCIAL NEWS
How Deep, How Long, How Far?
Dear time-poor reader: market analysts and strategists are trying to assess how deep the covid-19 damage will be, and for…
10:00 AM
SPONSORED: MMJ Discount Implies 150% Upside
Cannabis stocks have had a challenging year with huge selloffs seen across the sector. Yet this presents opportunities that are hard to ignore.
2:14 PM
Next Week At A Glance – 14-17 Apr 2020
A brief look at important company events and economic data releases next week.
11:51 AM
FNArena Corporate Results Monitor – 09-04-2020
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
11:40 AM
The Short Report – 09 Apr 2020
FNArena’s weekly update on short positions in the Australian share market.
11:37 AM
Macquarie rates AWC as Outperform
Macquarie has marked to market for March quarter bulk commodity prices and incorporated provisional pricing adjustments. Recent strong share price moves have eroded value upside.
The broker retains a preference for iron ore miners on significant FY22 earnings upside at current spot prices. Recent declines in alumina and coal prices have increased downside risk for relevant miners.
Outperform retained for Alumina Ltd, target rises to $1.90 from $1.60.
Credit Suisse rates CAJ as Outperform
Credit Suisse suggests the closure of the Fowler Simmons transaction just ahead of the current crisis puts the focus on the balance sheet at a time when it was showing some sign of turning around.
The broker expects fourth quarter revenues will be down -35%, given the exposure to GP referrals and musculoskeletal work.
Nevertheless, the business does operate in an industry that is growing at around 5-7% per annum and one week customer bills are paid within two days.
Going forward, Credit Suisse suggests this is the type of industry that lending syndicates will support. Outperform rating maintained. Target reduced to $0.26 from $0.34.
UBS rates OSH as Buy
Oil Search has announced a US$700m capital raising at $2.10 a share as well as a nine-month extension to its US$300m facility. Production and capital guidance have been maintained.
UBS estimates now reflect the extra shares on issue and an oil price forecast of US$35/bbl in 2020. Easing of concerns over the balance sheet should enable a market to focus on internal options, the broker suggests.
Buy rating maintained. Target is raised to $3.10 from $2.70.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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MMS | MCMILLAN SHAKESPEARE LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$7.29 09 Apr |
OPEN $7.28 |
HIGH $7.51 |
180,271 LOW $7.19 |
-0.090| TARGET | |||
| $10.393 42.6% upside | |||
| Franking for last dividend paid out: 100% |
| Title | FY18 Actual |
FY19 Actual |
FY20 Forecast |
FY21 Forecast |
|---|---|---|---|---|
| EPS (cps) | 60.9 | 77.0 | 83.6 | 94.1 |
| DPS (cps) | 73.0 | 74.0 | 50.7 | 62.0 |
| EPS Growth | - 41.9% | 26.4% | 8.6% | 12.5% |
| DPS Growth | 10.6% | 1.4% | - 31.5% | 22.3% |
| PE Ratio | N/A | N/A | 8.7 | 7.8 |
| Dividend Yield | N/A | N/A | 7.0% | 8.5% |
| Div Pay Ratio(%) | 119.9% | 96.1% | 60.6% | 65.9% |
DAILY FINANCIAL NEWS
SPONSORED: MMJ Discount Implies 150% Upside
Cannabis stocks have had a challenging year with huge selloffs seen across the sector. Yet this presents opportunities that are hard to ignore.
2:14 PM - FYI
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
11:40 AM - Australia
Audinate is expected to withstand the current downturn, given its market share, but revenue could be challenged in the short term.
10:32 AM - Small Caps
Flight Centre has slashed monthly operating costs and raised capital. Brokers expect a leaner enterprise with greater market share is likely to emerge.
Apr 08 2020 - Australia
Ahead of the Herd’s Rick Mills notes that while metal prices have fallen on demand destruction due to shutdowns, mine shutdowns imply eventually a supply crunch will lead to a big price turnaround.
Apr 08 2020 - Commodities
HUB24 has experienced significant growth in funds on its platform. To what extent are prospects shaped by expectations of a sharp rebound in markets after the crisis has passed?
Apr 08 2020 - Australia
RUDI'S VIEWS
How Deep, How Long, How Far?
Dear time-poor reader: market analysts and strategists are trying to assess how deep the covid-19 damage will be, and for…
10:00 AM
DAILY MARKET REPORTS
The Overnight Report: Accentuate The Positive
Wall Street has kicked on again after the head US medico spoke of a timeline to reopening the country. Dow up 779. (Available for non-subscribers after 10am)
9:17 AM
The Overnight Report: Fade Away
Rallies from the bottom here and in the US appear to have run their course for now. Dow down -26. Yes, only -26. (Available for non-subscribers after 10am)
Apr 08 2020
The Overnight Report: Flattening Curve?
Evidence that the virus curve has begun to rollover in NSW, Italy, Spain and NYC has had stock markets surging. Dow up 1627. (Available for non-subscribers after 10am)
Apr 07 2020
Australian Broker Call *Extra* Edition – Apr 06, 2020
Extra Edition of the Broker Call Report
Apr 06 2020
WEEKLY REPORTS
Next Week At A Glance – 14-17 Apr 2020
A brief look at important company events and economic data releases next week.
11:51 AM
The Short Report – 09 Apr 2020
FNArena’s weekly update on short positions in the Australian share market.
11:37 AM
Australian Corporate Bond Price Tables – 09-04-20
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
11:01 AM
Playing The Working From Home Boom
The New Criterion’s Tim Boreham identifies two small Australian stocks suddenly in the spotlight as the world works from home.
Apr 08 2020
Uranium Week: A Wake Up Call?
After years of lacklustre uranium prices and a lack of any urgency on the part of utilities, suddenly the virus has markedly changed the nuclear energy equation.
Apr 07 2020
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.
Apr 06 2020
Weekly Ratings, Targets, Forecast Changes – 03-04-20
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
Apr 06 2020
Weekly Top Ten News Stories – 3 April 2020
Our top ten news stories from 26 March 2020 to 02 April 2020
Apr 03 2020
Next Week At A Glance – 6-10 Apr 2020
A brief look at important company events and economic data releases next week.
Apr 03 2020
THE MARKETS
-
Asia
09 April 2020 Updated : 16:12 AEDT
NZ50
9214.870
-42.310
-0.460%
Nikkei 225
19305.63
-47.61
-0.25%
Hang Seng
24135.50
+165.13
0.69%
-
World
09 April 2020 Updated : 16:12 AEDT
CAD/USD
0.7117
0.00
-0.24%
EUR/JPY
118.15
-0.12
-0.10%
EUR/USD
1.0845
0.00
-0.18%
GBP/USD
1.2365
+0.00
0.27%
USD/JPY
108.94
+0.09
0.08%
-
Aus Stocks
09 April 2020 Updated : 16:12 AEDT
BHP (UK)
1276.80
0.00
0.00%
Rio (UK)
3697.00
0.00
0.00%
BHP (US)
39.31
+0.79
2.05%
Rio (US)
46.00
+0.27
0.59%
ResMed (US)
155.16
+1.48
0.96%
South32 (UK)
98.06
0.00
0.00%
James Hardie (US)
12.18
0.00
0.00%
Telstra (US)
9.68
+0.05
0.52%
Westpac (US)
9.59
-0.15
-1.54%
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CALENDAR
Thursday, 9 April 2020
AU RBA Financial Stability Review UK industrial production, Feb UK trade balance, Feb US PPI, Mar US UMich consumer sentiment, Apr (initial) US weekly new jobless claims ABC ex-div 5c (100%) BKW ex-div 20c (100%) BLV ex-div 15c (0%) CL1 ex-div 0.05c (0%) ILU AGM TPM ex-div 3c (100%) Friday, 10 April 2020
ALL WEATHER STOCKS
Code Company Price COL COLES GROUP LIMITED 
$15.86
CSL CSL LIMITED 
$323.03
REA REA GROUP LIMITED
$83.45
RMD RESMED INC
$24.27
TNE TECHNOLOGYONE LIMITED
$8.24
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FNARENA TALKS
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FNARENA WINDOWS
Window on HARDWARE & EQUIPMENT
Audinate Resonates Despite Downturn
Audinate is expected to withstand the current downturn, given its market share, but revenue could be challenged in the short term.
10:32 AM
Window on BANKS
Australian Banks: There Go The Dividends
Just when bank analysts were attempting to forecast the possible extent of dividend cuts for Australia’s banks, along comes APRA to help make the banks’ decisions for them.
Apr 08 2020
Window on TRAVEL, LEISURE & TOURISM
Flight Centre To Emerge Bigger And Leaner
Flight Centre has slashed monthly operating costs and raised capital. Brokers expect a leaner enterprise with greater market share is likely to emerge.
Apr 08 2020
SMSFUNDAMENTALS
SMSFundamentals: ETFs Trending Higher
Exchange traded funds are becoming more popular as investors seek alternatives in a low-yield world.
Feb 12 2020