FINANCIAL NEWS

Barrenjoey Capital Lures Magellan Financial

Magellan Financial intends to diversify its options with an investment in Barrenjoey Capital Partners, although the near-term returns are expected to be minimal.

Sep 22 2020


Harvey Norman Basks In A Sunny Retail Corner

Retailer Harvey Norman is enjoying the proceeds of an extended change in consumer behaviour as Australians snap up household goods.

Sep 22 2020


Uranium Week: Iran Threatens Retaliation

As the uranium price continues its incremental slide, Iran threatens a reaction to nuclear program restrictions.

Sep 22 2020


ASX200: Be Patient

Michael Gable of Fairmont Equities suggests weaker investors are selling into the US pullback while stronger investors are looking to the longer term.

Sep 22 2020


Outlook Should Improve For Inghams

The next six months are likely to be tough for poultry producer Inghams but earnings should then improve as the impact of the pandemic wanes.

Sep 22 2020


UBS rates FPH as Sell

UBS finds home high flow therapy (HFT) to be an exciting opportunity and a natural extension of Fisher and Paykel Healthcare Corp's technology from hospital into the home. However, the broker also admits progress has been "painfully slow" when it comes to building clinical evidence and gaining insurance coverage.

Also, UBS finds it unlikely HFT will bridge the valuation gap to Fisher's current share price created by the pandemic related hospital sales. For now, UBS continues to take a cautious approach and reaffirms its Sell rating with a target price of NZ$20.20.

Morgans rates SXY as Add

Senex Energy has been awarded preferred tenderer status on two new blocks in the Surat and Bowen Basins.

The Surat acreage awarded is adjacent to the company’s flagship Atlas operation, boosting the acreage of the company’s highest value asset by 31%, calculates Morgans.

The broker highlights this increases the ultimate earnings potential for the company, while also lifting future earnings quality. The company is considered a dependable developer of new gas supply on the east coast, helping it to secure new acreage.

Morgans lifts EPS estimates for FY22 and FY23 by 4% and 14%, respectively.

The Add rating is unchanged and the target price is increased to $0.48 from $0.424.

Morgan Stanley rates TAH as Equal-weight

Tabcorp has sold its 11.6% interest in Jumbo Interactive ((JIN)) for $13.52 a share or $98m. A one-off net profit on the sale of $69m will be recorded in the first half and proceeds will be used to pay down debt.

Morgan Stanley assesses this has a marginal impact on earnings and suggests: it could signal pressure may be building on the balance sheet and, therefore, the company has had to sell one of its quality structural growth assets or, it could also mean Tabcorp has extracted the maximum value it perceives and will focus more on digital lotteries growth.

Morgan Stanley maintains its Equal-weight rating and $3.50 target. Industry view: Cautious.

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ANALYSIS & DATA

MARKET CONSENSUS FORECAST

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

MFG | MAGELLAN FINANCIAL GROUP LIMITED

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$54.80

22 Sep
2020

-0.190

OPEN

$53.99

-0.35%

HIGH

$55.05

682,720

LOW

$53.80

TARGET
$59.753 9.0% upside
Franking for last dividend paid out: 75%
MARKET CONSENSUS FORECAST
MFG: 1
Title FY19
Actual
FY20
Actual
FY21
Forecast
FY22
Forecast
EPS (cps) 213.1 218.3 242.7 273.9
DPS (cps) 185.2 214.9 221.7 245.6
EPS Growth 74.7% 2.4% 11.2% 12.9%
DPS Growth 37.7% 16.0% 3.2% 10.8%
PE Ratio N/A N/A 22.6 20.0
Dividend Yield N/A N/A 4.0% 4.5%
Div Pay Ratio(%) 86.9% 98.4% 91.3% 89.7%

RUDI ON TWITTER

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DAILY FINANCIAL NEWS

Barrenjoey Capital Lures Magellan Financial

Magellan Financial intends to diversify its options with an investment in Barrenjoey Capital Partners, although the near-term returns are expected to be minimal.

Sep 22 2020 - Australia


Retailer Harvey Norman is enjoying the proceeds of an extended change in consumer behaviour as Australians snap up household goods.

Sep 22 2020 - Australia


Michael Gable of Fairmont Equities suggests weaker investors are selling into the US pullback while stronger investors are looking to the longer term.

Sep 22 2020 - Technicals


The next six months are likely to be tough for poultry producer Inghams but earnings should then improve as the impact of the pandemic wanes.

Sep 22 2020 - Australia


RESEARCH: Momentum building For Brookside Energy

Pitt Street Research has updated its modeling for Brookside Energy post a new JV and capital raisings

Sep 22 2020 - FYI


Titan Minerals Increases Its South American Gold Footprint

SPONSORED: Titan Minerals announced this morning that it has been reinstated by the Ecuadorian Ministry of Mines as owner of the Jerusalén Concession (Jerusalem Gold Project)

Sep 21 2020 - FYI


RUDI'S VIEWS

Rudi’s View: Plenty Of Clouds, Diverging Scenarios

In this week’s Weekly Insights: -Plenty Of Clouds, Diverging Scenarios-Conviction Calls Plenty Of Clouds, Diverging Scenarios By Rudi Filapek-Vandyck, Editor FNArena…

Sep 17 2020

DAILY MARKET REPORTS

The Overnight Report: Not Tech This Time

A confluence of factors, from another banking scandal to a surging global case-count, to upheaval in the US Supreme Court, had the US broad market swooning last night. Dow down -573. (Available for non-subscribers after 10am)

Sep 22 2020


Today’s Financial Calendar – 22-09-2020

Significant Scheduled Events For 22 September, 2020

Sep 22 2020


Australian Broker Call *Extra* Edition – Sep 21, 2020

Extra Edition of the Broker Call Report

Sep 21 2020


The Monday Report – 21 September 2020

Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead

Sep 21 2020


Today’s Financial Calendar – 21-09-2020

Significant Scheduled Events For 21 September, 2020

Sep 21 2020


The Overnight Report: Back to Correction

The Nasdaq again hit a -10% correction from its highs last night before a slight bounce to the close. Dow down -130. (Available for non-subscribers after 10am)

Sep 18 2020


Today’s Financial Calendar – 18-09-2020

Significant Scheduled Events For 18 September, 2020

Sep 18 2020


WEEKLY REPORTS

Uranium Week: Iran Threatens Retaliation

As the uranium price continues its incremental slide, Iran threatens a reaction to nuclear program restrictions.

Sep 22 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

Sep 21 2020

The Decline Of Junk Mail

The New Criterion’s Tim Boreham delves into the shrinking world of letterbox-delivered catalogues to determine which listed players might survive

Sep 21 2020


Weekly Ratings, Targets, Forecast Changes – 18-09-20

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

Sep 21 2020

Weekly Top Ten News Stories – 18 September 2020

Our top ten news stories from 10 September 2020 to 17 September 2020

Sep 18 2020

Next Week At A Glance – 21-25 Sep 2020

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

Sep 18 2020


The Wrap: Contractors, Financials & Accounting

Weekly Broker Wrap: health care & the US election; contractors; financials; and accounting software

Sep 18 2020

The Short Report – 17 Sep 2020

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

Sep 17 2020

Uranium Week: Spot Price Down -12% Since May

The uranium price continues its gradual slide as the World Nuclear Association holds its Strategic e-Forum.

Sep 15 2020


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THE MARKETS

    Click item/line to change chart

  • Australia

    23 September 2020   Updated : 07:12   AEDT

    SPI Overnight (Dec)

    5746.00

    -78.00

    -1.34%

    All Ordinaries

    5973.50

    -40.00

    -0.67%

    S&P ASX 200

    5784.10

    -38.50

    -0.66%

    S&P ASX 300

    5768.20

    -40.60

    -0.70%

    Consumer Discretionary

    2589.50

    +0.10

    0.00%

    Consumer Staples

    12208.60

    +101.20

    0.84%

    Energy

    6513.40

    -124.60

    -1.88%

    Financials

    4362.80

    -61.90

    -1.40%

    Health Care

    42225.10

    +457.70

    1.10%

    Industrials

    5585.30

    -5.40

    -0.10%

    Info Technology

    1709.60

    +37.90

    2.27%

    Materials

    13787.20

    -280.80

    -2.00%

    Telecommunication

    1128.50

    -1.00

    -0.09%

    Utilities

    6967.80

    -26.70

    -0.38%

  • Asia

    23 September 2020   Updated : 07:12   AEDT

    NZ50

    9214.870

    -42.310

    -0.460%

    Nikkei 225

    23360.30

    +40.93

    0.18%

    Hang Seng

    23716.85

    -233.84

    -0.98%

    Click item/line to change chart

  • Australasia

    23 September 2020   Updated : 07:12   AEDT

    AUD/USD

    0.7170

    0.00

    -0.65%

    AUD/NZD

    1.0814

    0.00

    -0.04%

    NZD/USD

    0.6630

    0.00

    -0.61%

    AUD/JPY

    75.25

    -0.15

    -0.19%

    SGD/AUD

    1.02

    +0.01

    0.52%

    AUD/EUR

    0.6123

    0.00

    -0.37%

    AUD/GBP

    0.5632

    0.00

    -0.07%

    AUDCAD

    0.9536

    -0.01

    -0.69%

  • World

    23 September 2020   Updated : 07:12   AEDT

    CAD/USD

    0.7518

    +0.00

    0.04%

    EUR/JPY

    122.88

    +0.18

    0.15%

    EUR/USD

    1.1708

    0.00

    -0.28%

    GBP/USD

    1.2730

    -0.01

    -0.55%

    USD/JPY

    104.96

    +0.45

    0.43%

    Click item/line to change chart

  • World

    23 September 2020   Updated : 07:12   AEDT

    FTSE100

    5829.46

    +25.17

    0.43%

    DAX30

    12594.39

    +51.95

    0.41%

    DJIA

    27288.18

    +140.48

    0.52%

    S&P500

    3315.57

    +34.51

    1.05%

    Nasdaq Comp

    10963.64

    +184.84

    1.71%

    S&P500 VIX

    26.86

    -0.92

    -3.31%

    US 10-year yield

    0.664

    -0.007

    -1.040%

    USD Index

    93.53

    +0.60

    0.65%

  • Aus Stocks

    23 September 2020   Updated : 07:12   AEDT

    BHP (UK)

    1702.20

    -3.00

    -0.18%

    Rio (UK)

    4772.50

    -31.50

    -0.66%

    BHP (US)

    52.89

    -0.05

    -0.09%

    Rio (US)

    61.41

    -0.19

    -0.31%

    ResMed (US)

    172.26

    +0.75

    0.44%

    South32 (UK)

    122.26

    -2.12

    -1.70%

    James Hardie (US)

    22.13

    +0.47

    2.17%

    Telstra (US)

    10.13

    +0.01

    0.10%

    Westpac (US)

    11.58

    -0.02

    -0.17%

    Click item/line to change chart

  • Spot Metals & Minerals

    22 September 2020   Updated : 12:17   AEDT

    Gold (oz)

    1912.40

    -36.50

    -1.87%

    Silver (oz)

    24.69

    -2.03

    -7.60%

    Copper (lb)

    3.0904

    0.00

    0.00%

    Aluminium (lb)

    0.7948

    -

    -

    Lead (lb)

    0.8525

    0.00

    0.00%

    Nickel (lb)

    6.7023

    -

    -

    Zinc (lb)

    1.1398

    -

    -

    Copper (t)

    6813.00

    -

    -

    Aluminium (t)

    1752.00

    -

    -

    Lead (t)

    1879.00

    -

    -

    Nickel (t)

    14776.00

    -

    -

    Zinc (t)

    2513.00

    -

    -

    Uranium (lb) weekly

    30.00

    -0.15

    -0.50%

  • Commodities Futures

    22 September 2020   Updated : 07:47   AEDT

    West Texas Crude

    39.59

    -1.52

    -3.70%

    Brent Crude

    41.76

    -1.39

    -3.22%

    Iron Ore (t)

    120.00

    -5.20

    -4.15%

CALENDAR

Wednesday, 23 September 2020
NZ RBNZ policy meeting
AU flash manufacturing PMI, Sep
AU retail sales, Aug (preliminary)
JP flash manufacturing PMI, Sep
EZ flash manufacturing PMI, Sep
UK flash manufacturing PMI, Sep
US FHFA house prices, Jul
US flash manufacturing PMI, Sep
COG ex-div 0.15c (100%)
KMD earnings result
NUF earnings result
Thursday, 24 September 2020
NZ trade balance, Aug

ALL WEATHER STOCKS

Code Company Price
COL COLES GROUP LIMITED

$17.25

CSL CSL LIMITED

$286.35

REA REA GROUP LIMITED

$108.85

RMD RESMED INC

$23.88

TNE TECHNOLOGYONE LIMITED

$7.85

WEEKLY PDF

Stories To Read From FNArena


WEEK 38

WEEK 37

WEEK 36

WEEK 35

WEEK 34

FNARENA TALKS

FNARENA WINDOWS

Window on WEALTH MANAGEMENT & INVESTMENTS

Barrenjoey Capital Lures Magellan Financial

Magellan Financial intends to diversify its options with an investment in Barrenjoey Capital Partners, although the near-term returns are expected to be minimal.

Sep 22 2020


Window on RETAILING

Harvey Norman Basks In A Sunny Retail Corner

Retailer Harvey Norman is enjoying the proceeds of an extended change in consumer behaviour as Australians snap up household goods.

Sep 22 2020


Window on URANIUM

Uranium Week: Iran Threatens Retaliation

As the uranium price continues its incremental slide, Iran threatens a reaction to nuclear program restrictions.

Sep 22 2020


SMSFUNDAMENTALS

SMSFundamentals: Diversified ETFs Continue to Surge

Australian exchange traded funds posted a record in August as the product of choice for investors wishing to capture exposure to a more flexible investment product.

Sep 16 2020


FEATURE STORIES

August 2020 Result Season: The Wrap

The August result season could be called “best ever” in terms of beats to misses, but in 2020, such a conclusion would be misinformed

Sep 09 2020