FINANCIAL NEWS
FNArena Corporate Results Monitor
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
4:04 PM
Difficulties In Life Sciences Still Plague ALS
While life sciences margins surprised to the upside in the first half, brokers are unsure whether ALS Ltd can sustain these comfortably over the longer term.
2:50 PM
Confidence Grows In TechnologyOne
TechnologyOne is confident in the outlook for FY19, expecting robust growth in annualised recurring revenue and profit.
12:41 PM
SMSFundamentals: Is Your Super Adequate?
Research from Roy Morgan shows Australians’ level of super contribution is dropping, leading to a risk of insufficient retirement funding.
11:13 AM
Share Buybacks – Who’s Doing It?
Weekly Update on ASX-listed companies buying in their own stock.
10:00 AM
Morgan Stanley rates FBU as Equal-weight
The company has updated guidance at its AGM, revising FY19 operating earnings (EBIT) down to NZ$630-680m, which is a -6.5% reduction on Morgan Stanley's forecasts. This highlights the probability that internal problems will prevent the company from maximising profits at the top of the cycle. The Golden Bay facility closure during September was a one-off but Morgan Stanley was surprised this was the first the market heard about it.
Australian concerns feature more significantly, as cost pressures in a cooling residential market are driving lower expectations. The broker was again surprised, as construction activity remains robust. The broker fears a full Australian housing downturn, particularly if it coincides with an NZ housing decline.
Equal-weight rating maintained. Target is reduced to $5.66 from $6.36. Cautious industry view.
Deutsche Bank rates MND as Sell
Management has guided to first half revenue being down -10% versus the prior corresponding half. Deutsche Bank had been forecasting a decline of -15%.
The broker maintains a Sell rating and $11.72 target.
Morgans rates SKI as Hold
Morgans continues to doubt the sustainability of the distribution, guided at $0.16 per security in 2018, over the medium term. In the short term, the yield of around 7% remains attractive for income-oriented investors.
The investor briefing suggests the Transgrid transmission network is critical in enabling utility-scale renewable generation in the NSW market, while the South Australian and Victorian distribution networks will be important in managing the distributed energy resources.
Morgans notes SAPN and VPN remain the centrepiece of the business. A reduction in earnings and operating cash flow is expected for both these businesses when the next regulatory control periods commence in 2020/21. Capital expenditure should drive growth in the regulated asset base, ultimately anchoring long-term revenue. The company continues to review M&A opportunities.
Morgans maintains a Hold rating and reduces the target to $2.32 from $2.34.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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TNE | TECHNOLOGY ONE LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$5.67 21 Nov |
OPEN $5.54 |
HIGH $5.72 |
2,037,525 LOW $5.50 |
0.040| TARGET | |||
| $5.588 -1.5% downside | |||
| Franking for last dividend paid out: 75% |
| Title | FY17 Actual |
FY18 Actual |
FY19 Forecast |
FY20 Forecast |
|---|---|---|---|---|
| EPS (cps) | 14.2 | N/A | 18.3 | 20.9 |
| DPS (cps) | 8.2 | N/A | 12.5 | 13.5 |
| EPS Growth | 6.9% | N/A | N/A | 13.9% |
| DPS Growth | 10.1% | N/A | N/A | 8.2% |
| PE Ratio | N/A | N/A | 31.0 | 27.2 |
| Dividend Yield | N/A | N/A | 2.2% | 2.4% |
| Div Pay Ratio(%) | 57.8% | N/A | 68.3% | 64.9% |
DAILY FINANCIAL NEWS
FNArena Corporate Results Monitor
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
4:04 PM - Australia
While life sciences margins surprised to the upside in the first half, brokers are unsure whether ALS Ltd can sustain these comfortably over the longer term.
2:50 PM - Australia
TechnologyOne is confident in the outlook for FY19, expecting robust growth in annualised recurring revenue and profit.
12:41 PM - Australia
Brokers are looking forward to a better performance from G8 Education in 2019 as occupancy levels stabilise and supply pressures ease.
Nov 20 2018 - Australia
Medibank Private has lost its Garrison Health Services contract, a setback in terms of diversifying away from the private health insurance business.
Nov 20 2018 - Australia
Hearts, Minds & Stocks
Peter Switzer of the Switzer Super Report reviews the top picks of fund managers at the 2018 Hearts & Minds conference.
Nov 20 2018 - FYI
RUDI'S VIEWS
Rudi’s View: Reliance Worldwide, ResMed, And Equity Trustees
In this week's Weekly Insights (this is Part Two): -Autumn Has Arrived, Plus Seven Quotes -ESG Focus Should Be Yours…
Nov 16 2018
DAILY MARKET REPORTS
The Overnight Report: October Low
The S&P last night returned to its October low. Next stop the February low? Dow down -551.
9:04 AM
The Overnight Report: Tech & Trade
Suspected softer demand for iPhones saw Apple’s weakness cascade through markets while tensions in PNG set the trade fear trade off once more. Dow down -407.
Nov 20 2018
The Monday Report
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Nov 19 2018
The Overnight Report: Comeback Again
Down on Brexit, back on trade – Wall Street again posted a big turnaround last night, this time closing higher. Dow up 208.
Nov 16 2018
WEEKLY REPORTS
Share Buybacks – Who’s Doing It?
Weekly Update on ASX-listed companies buying in their own stock.
10:00 AM
Uranium Week: Kazakhstan Capitalism
The long awaited IPO of a stake of Kazakhstan’s state-owned uranium producer went ahead last week, pending listing in London.
Nov 20 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.
Nov 19 2018
Weekly Ratings, Targets, Forecast Changes
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
Nov 19 2018
Weekly Top Ten News Stories
Our top ten news stories from 08 November 2018 to 15 November 2018
Nov 16 2018
Next Week At A Glance
A brief look at important company events and economic data releases next week.
Nov 16 2018
The Wrap: Canaries, 5G, Telcos & IP Services
Weekly Broker Wrap: canaries; monetary policies; 5G; telcos and IP services.
Nov 16 2018
The Short Report
FNArena’s weekly update on short positions in the Australian share market.
Nov 15 2018
Australian Corporate Bond Price Tables
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
Nov 15 2018
THE MARKETS
-
Asia
21 November 2018 Updated : 20:12 AEDT
NZ50
9214.870
-42.310
-0.460%
Nikkei 225
21507.54
-75.58
-0.35%
Hang Seng
25971.47
+131.13
0.51%
-
World
21 November 2018 Updated : 20:12 AEDT
CAD/USD
0.7525
-0.01
-0.86%
EUR/JPY
128.74
+0.40
0.31%
EUR/USD
1.1404
0.00
-0.19%
GBP/USD
1.2800
0.00
-0.23%
USD/JPY
112.89
+0.55
0.49%
-
Aus Stocks
21 November 2018 Updated : 20:12 AEDT
BHP (UK)
1599.00
+13.60
0.86%
Rio (UK)
3849.00
+41.00
1.08%
BHP (US)
46.00
-1.58
-3.32%
Rio (US)
49.06
-1.60
-3.16%
ResMed (US)
101.61
-0.94
-0.92%
South32 (UK)
180.09
-2.71
-1.48%
James Hardie (US)
11.05
-0.57
-4.91%
Telstra (US)
10.81
-
-
Westpac (US)
18.23
-0.09
-0.49%
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CALENDAR
Wednesday, 21 November 2018
US durable goods orders, Oct US existing home sales, Oct US UMich consumer sentiment, Nov (final) FPH quarterly report HPI AGM IMF AGM REA AGM SHL AGM SVW AGM VRT AGM WEB AGM WOW AGM WTC AGM ALL WEATHER STOCKS
Code Company Price AMC AMCOR LIMITED 
$13.36
ARB ARB CORPORATION LIMITED
$16.62
CSL CSL LIMITED 
$178.77
REA REA GROUP LIMITED
$74.75
RMD RESMED INC
$14.02
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FNARENA TALKS
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FNARENA WINDOWS
Window on INDUSTRIAL SECTOR CONTRACTORS & ENGINEERS
Difficulties In Life Sciences Still Plague ALS
While life sciences margins surprised to the upside in the first half, brokers are unsure whether ALS Ltd can sustain these comfortably over the longer term.
2:50 PM
Window on IT & SUPPORT
Confidence Grows In TechnologyOne
TechnologyOne is confident in the outlook for FY19, expecting robust growth in annualised recurring revenue and profit.
12:41 PM
Window on WEALTH MANAGEMENT & INVESTMENTS
SMSFundamentals: Is Your Super Adequate?
Research from Roy Morgan shows Australians’ level of super contribution is dropping, leading to a risk of insufficient retirement funding.
11:13 AM
SMSFUNDAMENTALS
SMSFundamentals: Is Your Super Adequate?
Research from Roy Morgan shows Australians’ level of super contribution is dropping, leading to a risk of insufficient retirement funding.
11:13 AM