FINANCIAL NEWS

Australian Broker Call *Extra* Edition – Mar 24, 2023

Extra Edition of the Broker Call Report

12:31 PM


FNArena Corporate Results Monitor – 24-03-2023

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

11:29 AM


Weekly Top Ten News Stories – 24 March 2023

Our top ten news stories from 16 March 2023 to 23 March 2023

11:28 AM


Next Week At A Glance – 27-31 Mar 2023

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

10:29 AM


In Brief: US Banks, Insolvencies, Retail 

The weekly broker wrap: lending in the US expected to tighten, domestic insolvencies likely ahead, Amazon puts the squeeze on existing retailers

10:00 AM


Macquarie rates BKW as Neutral

Brickworks reported first half results above Macquarie's estimates, once again driven by property sales and revaluations. Dividends were in line with expectations.

Building Products was nevertheless weaker than expected, both in Australia and North America. Revenue growth was driven by price and not volume. Around 10% price increases in both markets were not sufficient to offset broad-based (and continuing) cost pressures.

Property continues to evolve and despite tougher conditions in this space, the development pipeline in the Trust remains "enviable", the broker suggests.

Neutral retained, target rises to $24.05 from $22.50.

Morgans rates PAN as Add

Following the release of an updated Savannah Nickel mine plan by Panoramic Resources, Morgans notes the steady ramping-up of operations. Design production levels are expected to achieve the company's target mine rate of 960ktpa in early FY24.

The target falls to 25c from 39c after the broker updates its forecasts for nickel, copper and cobalt, and adopts management's target for an operating mine life until the end of FY35.

The company is Morgans' preferred ASX nickel exposure with significant exploration potential at Savannah, Savannah North and regional targets. Add.

Morgan Stanley rates TUA as Overweight

First half earnings (EBITDA) for Tuas were a 10% beat versus Morgan Stanley's forecast. It's felt the company remains on-track for free cash flow break-even in FY24.

A key highlight for the analyst were plans to launch into broadband at the end of FY23, leveraging Singapore's NBN and existing infrastructure.The company is considered well positioned to replicate its mobile success in broadband.

The broker's target rises to $2.15 from $2.00 on higher forecasts for subscriptions, margins and the inclusion of broadband from FY24.

The Overweight rating is retained. Industry View: In-Line.

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ANALYSIS & DATA

FNARENA'S MARKET CONSENSUS FORECASTS

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

SQ2 | BLOCK INC

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$108.99

23 Mar
2023

-6.160

OPEN

$109.05

-5.35%

HIGH

$109.53

256,054

LOW

$108.39

TARGET
$149.000 36.7% upside
FNARENA'S MARKET CONSENSUS FORECASTS
SQ2: 1
Title FY23
Forecast
FY24
Forecast
EPS (cps) 126.0 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 70.6 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) 0.0% xxx
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.

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DAILY FINANCIAL NEWS

FNArena Corporate Results Monitor – 24-03-2023

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

11:29 AM - Australia


Macro concerns overshadowed ESG developments during the February reporting season, but there was plenty to report: decarbonisation continued apace; green commodities entered rocky water but other revenue-generating projects progressed; and regulators took aim

8:14 AM - ESG Focus


While coal prices have started to retreat after a strong rally, New Hope Corp’s capital expenditure plans should see the company boost production

Mar 23 2023 - Australia


In newly released research, two brokers express a preference for Stanmore Resources over Coronado Global Resources

Mar 22 2023 - Commodities


A glance through the latest expert views and predictions about commodities: outlooks for iron ore, steel and copper

Mar 22 2023 - Commodities


A takeover bid for Healius by Australian Clinical Labs has been greeted with very little enthusiasm, if any

Mar 21 2023 - Australia


RUDI'S VIEWS

Rudi’s View: All-Weather Stocks – Back In Fashion

In this week's Weekly Insights: -Banks Need Confidence (Lots Of It)-All-Weather Stocks – Back In Fashion-All-Weathers: Post-February-Research To Download By…

Mar 22 2023

DAILY MARKET REPORTS

Australian Broker Call *Extra* Edition – Mar 24, 2023

Extra Edition of the Broker Call Report

12:31 PM


The Overnight Report: Stuck In The Middle With You

After a failed rebound last night, the S&P500 remains right on its mid-range pivot point. Dow up 75. (Available for non-subscribers after 10am)

9:08 AM


Today’s Financial Calendar – 24-03-2023

Significant Scheduled Events For 24 March, 2023

8:15 AM


ASX Winners And Losers Of Today – 23-03-23

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

Mar 23 2023


Australian Broker Call *Extra* Edition – Mar 23, 2023

Extra Edition of the Broker Call Report

Mar 23 2023


The Overnight Report: Not Happy Jay

Wall Street did not like what it heard from the Fed last night, sparking a rush out of stocks and into bonds. Dow down -530. (Available for non-subscribers after 10am)

Mar 23 2023


Today’s Financial Calendar – 23-03-2023

Significant Scheduled Events For 23 March, 2023

Mar 23 2023


WEEKLY REPORTS

Weekly Top Ten News Stories – 24 March 2023

Our top ten news stories from 16 March 2023 to 23 March 2023

11:28 AM

Next Week At A Glance – 27-31 Mar 2023

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

10:29 AM

In Brief: US Banks, Insolvencies, Retail 

The weekly broker wrap: lending in the US expected to tighten, domestic insolvencies likely ahead, Amazon puts the squeeze on existing retailers

10:00 AM


The Short Report – 23 Mar 2023

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

Mar 23 2023

Uranium Week: Tarred With The Same Brush

The banking crisis that hit the world last week impacted on the speculative spot uranium market, while ignored by utilities

Mar 21 2023

Australian Listed Real Estate Tables – 20-03-2023

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

Mar 20 2023


Weekly Ratings, Targets, Forecast Changes – 17-03-23

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

Mar 20 2023

Weekly Top Ten News Stories – 17 March 2023

Our top ten news stories from 09 March 2023 to 16 March 2023

Mar 17 2023

Next Week At A Glance – 20-24 Mar 2023

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

Mar 17 2023


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THE MARKETS

    Click item/line to change chart

  • Australia

    24 March 2023   Updated : 17:42   AEDT

    SPI Overnight

    6950.00

    -39.00

    -0.56%

    NZ50

    11580.810

    -14.130

    -0.120%

    All Ordinaries

    7137.60

    -11.00

    -0.15%

    S&P ASX 200

    6955.20

    -13.40

    -0.19%

    S&P ASX 300

    6911.40

    -12.00

    -0.17%

    Communication Services

    1487.60

    -1.10

    -0.07%

    Consumer Discretionary

    2958.50

    +5.50

    0.19%

    Consumer Staples

    13121.70

    +21.80

    0.17%

    Energy

    10200.10

    -34.80

    -0.34%

    Financials

    5981.20

    -69.50

    -1.15%

    Health Care

    42190.30

    +17.10

    0.04%

    Industrials

    6490.70

    -12.50

    -0.19%

    Info Technology

    1471.10

    -2.70

    -0.18%

    Materials

    17294.10

    +97.00

    0.56%

    Real Estate

    2951.10

    -4.50

    -0.15%

    Utilities

    8056.40

    +58.20

    0.73%

    A-REITs

    1317.80

    -1.60

    -0.12%

    All Technology Index

    2143.30

    -11.90

    -0.55%

    Banks

    2444.10

    -29.10

    -1.18%

    Gold Index

    6631.20

    +129.00

    1.98%

    Metals & Mining

    5830.60

    +37.90

    0.65%

    Click item/line to change chart

  • Australasia

    24 March 2023   Updated : 17:42   AEDT

    AUD/USD

    0.6688

    0.00

    -0.64%

    AUD/NZD

    1.0721

    +0.00

    0.07%

    NZD/USD

    0.6238

    0.00

    -0.70%

    AUD/JPY

    87.15

    -1.13

    -1.27%

    SGD/AUD

    1.13

    +0.01

    0.50%

    AUD/EUR

    0.6174

    0.00

    -0.06%

    AUD/GBP

    0.5446

    0.00

    -0.27%

    AUDCAD

    0.9176

    0.00

    -0.33%

  • World

    24 March 2023   Updated : 17:42   AEDT

    CAD/USD

    0.7289

    0.00

    -0.31%

    EUR/JPY

    141.13

    -1.77

    -1.24%

    EUR/USD

    1.0830

    -0.01

    -0.60%

    GBP/USD

    1.2279

    0.00

    -0.37%

    USD/JPY

    130.28

    -0.88

    -0.67%

    Click item/line to change chart

  • World

    24 March 2023   Updated : 17:42   AEDT

    FTSE100

    7499.60

    -67.24

    -0.89%

    DAX30

    15210.39

    -5.80

    -0.04%

    Hang Seng

    19887.92

    -161.72

    -0.81%

    Nikkei 225

    27385.25

    -34.36

    -0.13%

    DJIA

    32105.25

    +75.14

    0.23%

    S&P500

    3948.72

    +11.75

    0.30%

    Nasdaq Comp

    11787.40

    +117.44

    1.01%

    S&P500 VIX

    22.61

    +0.35

    1.57%

    US 10-year yield

    3.406

    -0.094

    -2.690%

    USD Index

    102.59

    +0.03

    0.03%

  • Aus Stocks

    24 March 2023   Updated : 17:42   AEDT

    Amcor (US)

    10.84

    +0.03

    0.28%

    Rio (UK)

    5319.00

    0.00

    0.00%

    BHP (US)

    57.61

    +0.08

    0.14%

    Rio (US)

    64.60

    -0.45

    -0.69%

    ResMed (US)

    210.59

    -0.19

    -0.09%

    South32 (UK)

    222.33

    -3.67

    -1.62%

    James Hardie (US)

    20.74

    +0.06

    0.29%

    Telstra (US)

    12.48

    +0.09

    0.73%

    Janus Henderson (US)

    25.19

    -0.07

    -0.28%

    Newcrest (CA)

    24.26

    +0.51

    2.15%

    Click item/line to change chart

  • Metals & Minerals

    24 March 2023   Updated : 07:36   AEDT

    Gold (oz)

    1995.20

    +27.40

    1.39%

    Silver (oz)

    23.04

    +0.16

    0.70%

    Copper (lb)

    4.0651

    +0.02

    0.57%

    Aluminium (lb)

    1.1466

    +0.02

    1.43%

    Nickel (lb)

    10.0871

    -0.15

    -1.48%

    Zinc (lb)

    1.3195

    +0.01

    0.58%

    Copper (t)

    8962.00

    +51.00

    0.57%

    Aluminium (t)

    2528.00

    +36.00

    1.44%

    Lead (t)

    2148.00

    +17.00

    0.80%

    Nickel (t)

    22238.00

    -333.00

    -1.48%

    Zinc (t)

    2909.00

    +17.00

    0.59%

    Uranium (lb) weekly

    49.90

    -0.85

    -1.67%

    Iron Ore (t)

    126.66

    -1.07

    -0.84%

  • Energy

    24 March 2023   Updated : 07:36   AEDT

    West Texas Crude

    69.28

    -0.67

    -0.96%

    Brent Crude

    75.28

    -0.55

    -0.73%

CALENDAR

Friday, 24 March 2023
JP CPI, Feb
UK retail sales, Feb
US durabe goods orders, Feb
XX global flash PMIs, Mar
Monday, 27 March 2023
EZ Germany IFO investor sentiment, Mar
ACL ex-div 7c (100%)
PMV earnings report
Tuesday, 28 March 2023
AU retail sales, Feb
US Conference Board consumer confidence, Mar
ALX ex-div 20c (0%)
AUB AGM

ALL WEATHER STOCKS

Code Company Price
COL COLES GROUP LIMITED

$17.87

CSL CSL LIMITED

$288.49

REA REA GROUP LIMITED

$131.74

RMD RESMED INC

$31.54

TNE TECHNOLOGY ONE LIMITED

$14.29

WEEKLY PDF

Stories To Read From FNArena


WEEK 12

WEEK 11

WEEK 10

WEEK 9

WEEK 8

FNARENA TALKS

FNARENA WINDOWS

Window on APPAREL & FOOTWEAR

In Brief: US Banks, Insolvencies, Retail 

The weekly broker wrap: lending in the US expected to tighten, domestic insolvencies likely ahead, Amazon puts the squeeze on existing retailers

10:00 AM


Window on BANKS

Australia And The US Bank Crisis

Investors have voted with their feet, but how bad is the US banking crisis and how may this affect Australia?

Mar 23 2023


Window on COAL

Capacity Increase Ahead for New Hope

While coal prices have started to retreat after a strong rally, New Hope Corp’s capital expenditure plans should see the company boost production

Mar 23 2023


SMSFUNDAMENTALS

SMSFundamentals: Reality Tough For Super Disruptors

The superannuation disruptor segment has shrunk to half its peak size, with funds exiting the market in recent years having failed to resonate with the target audience

Feb 15 2023


FEATURE STORIES

Australia And The US Bank Crisis

Investors have voted with their feet, but how bad is the US banking crisis and how may this affect Australia?

Mar 23 2023


2023 Outlook: Global

Dec 07 2022