FINANCIAL NEWS
Sonic Healthcare Enhances US Footprint
Sonic Healthcare will acquire Aurora Diagnostics, which is expected to transform its US business and provide substantial revenue synergies.
1:05 PM
Australian Broker Call *Extra* Edition – Dec 13, 2018
Inaugural Edition of the Australian Broker Call *Extra* Edition, featuring additional expert sources on additional ASX-listed stocks. Re-published to remove technical errors.
11:31 AM
The Short Report
FNArena’s weekly update on short positions in the Australian share market.
10:55 AM
Australian Corporate Bond Price Tables
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
10:27 AM
Investing In ESG: The Lay Of The Land
How does one go about investing on a Environmental, Social and Governance basis?
10:00 AM
Macquarie rates KLL as Outperform
Macquarie observes Beyondie continues to advance rapidly. Early works and FEED are progressing and the company will install camp facilities early in 2019. Financing discussions are continuing.
An offtake agreement with a German fertiliser producer is nearing finalisation, with due diligence and review of the bankable feasibility study being completed. Macquarie also believes further optimisation from FEED activity and recovery enhancements are likely.
The broker maintains an Outperform rating and $0.75 target.
UBS rates QUB as Neutral
UBS estimates $600m will be spent at Moorebank in the next three years and the company has sufficient balance sheet capacity, supported by a more positive outlook for Patrick.
The broker observes delays to Moorebank and pressure on stevedore profitability have been offset by a solid performance in the operating division and the potential for a special dividend.
Additionally, NSW Ports investment in rail, and increased infrastructure levies by DP World, are likely to improve investor sentiment.
The broker makes minor downgrades to estimates for earnings per share, given the stock has outperformed the market since beginning of November.
The broker continues to believe FY18 will be the cyclical low point and the shares are fairly valued at current levels. Neutral maintained. Target is reduced to $2.75 from $2.80.
Morgan Stanley rates SHL as Overweight
The company has acquired Aurora Diagnostics, a US-based pathology business with pro forma revenue of US$310m and EBITDA of US$59m.
Morgan Stanley notes, as anatomical pathology is not subject to funding cuts, the deal dilutes some of the top-line risk in the US and increases the company's US business representation to 28%.
The purchase price is US$540m, to be funded by a placement and bridging facility. Expected synergies are derived from cross selling opportunities between clinical and anatomical pathology.
Overweight. Target is $27.70. Industry view is In-Line.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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SHL | SONIC HEALTHCARE LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$21.83 13 Dec |
OPEN $21.39 |
HIGH $22.66 |
5,095,458 LOW $21.31 |
0.440| TARGET | |||
| $26.020 19.2% upside | |||
| Franking for last dividend paid out: 30% |
| Title | FY17 Actual |
FY18 Actual |
FY19 Forecast |
FY20 Forecast |
|---|---|---|---|---|
| EPS (cps) | 102.7 | 112.6 | 118.1 | 126.2 |
| DPS (cps) | 77.0 | 81.0 | 85.4 | 91.8 |
| EPS Growth | - 6.6% | 9.6% | 4.9% | 6.9% |
| DPS Growth | 4.1% | 5.2% | 5.4% | 7.5% |
| PE Ratio | N/A | N/A | 18.5 | 17.3 |
| Dividend Yield | N/A | N/A | 3.9% | 4.2% |
| Div Pay Ratio(%) | 75.0% | 71.9% | 72.3% | 72.7% |
DAILY FINANCIAL NEWS
Sonic Healthcare Enhances US Footprint
Sonic Healthcare will acquire Aurora Diagnostics, which is expected to transform its US business and provide substantial revenue synergies.
1:05 PM - Australia
Australian Broker Call *Extra* Edition – Dec 13, 2018
Inaugural Edition of the Australian Broker Call *Extra* Edition, featuring additional expert sources on additional ASX-listed stocks. Re-published to remove technical errors.
11:31 AM - Australia
How does one go about investing on a Environmental, Social and Governance basis?
10:00 AM - ESG Focus
Brokers suggest the market has overreacted to QBE’s update, given the progress made in 2018 and the cost reductions outlined for the next three years.
Dec 12 2018 - Australia
Marin Katusa of Katusa Research suggests Australian gold miners are in the market for North American acquisitions.
Dec 12 2018 - Commodities
Peter Switzer of the Switzer Super Report explains why he has begun to nibble.
Dec 12 2018 - FYI
RUDI'S VIEWS
Rudi’s View: ‘Cheap’ Banks, Slowing China, High Volatility
Final update on stockbrokers’ Conviction Calls and Model Portfolio exposures.
Dec 07 2018
DAILY MARKET REPORTS
The Overnight Report: Yes You May
More positive news on the trade front had Wall Street surging last night but a less than convincing win by Theresa May cast a pall right at the death. Dow up 157.
8:53 AM
The Overnight Report: Another Wild Ride
Dow up 370, down -200, up 100, closing up 44. Is Wall Street trying to find a bottom?
Dec 12 2018
The Overnight Report: Rebound
Apple led a rebound on Wall Street last night that reversed a -500 point initial fall in the Dow to a close of up 34.
Dec 11 2018
The Monday Report
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Dec 10 2018
WEEKLY REPORTS
The Short Report
FNArena’s weekly update on short positions in the Australian share market.
10:55 AM
Australian Corporate Bond Price Tables
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
10:27 AM
Share Buybacks – Who’s Doing It?
Weekly Update on ASX-listed companies buying in their own stock.
Dec 12 2018
Uranium Week: Canary In The Uranium Mine
What price is sufficient for curtailed production to start coming back on line? Paladin Energy may have just provided a little hint.
Dec 11 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.
Dec 10 2018
Weekly Ratings, Targets, Forecast Changes
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
Dec 10 2018
Weekly Top Ten News Stories
Our top ten news stories from 29 November 2018 to 06 December 2018
Dec 07 2018
Next Week At A Glance
A brief look at important company events and economic data releases next week.
Dec 07 2018
The Wrap: Banks, Slots, China And Contractors
Weekly Broker Wrap: banks; slot manufacturers; China consumer; contractors; Alliance Minerals; and GR Engineering.
Dec 07 2018
THE MARKETS
-
Asia
13 December 2018 Updated : 20:12 AEDT
NZ50
9214.870
-42.310
-0.460%
Nikkei 225
21816.19
+213.44
0.99%
Hang Seng
26524.35
+337.64
1.29%
-
World
13 December 2018 Updated : 20:12 AEDT
CAD/USD
0.7493
+0.00
0.23%
EUR/JPY
129.15
+0.66
0.51%
EUR/USD
1.1380
+0.01
0.48%
GBP/USD
1.2673
+0.01
1.04%
USD/JPY
113.46
0.00
0.00%
-
Aus Stocks
13 December 2018 Updated : 20:12 AEDT
BHP (UK)
1573.00
0.00
0.00%
Rio (UK)
3761.00
+51.50
1.39%
BHP (US)
46.61
+0.70
1.52%
Rio (US)
47.00
+0.71
1.53%
ResMed (US)
115.16
+1.22
1.07%
South32 (UK)
188.70
+3.00
1.62%
James Hardie (US)
11.12
+0.17
1.55%
Telstra (US)
10.87
-0.15
-1.36%
Westpac (US)
18.38
+0.25
1.38%
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CALENDAR
Thursday, 13 December 2018
EZ ECB policy meeting CLW AGM ECX ex-div 8c (100%) ELD AGM MTS ex-div 6.5c (100%) SEN ex-div 0.37c SUN AGM Friday, 14 December 2018
NZ manufacturing PMI, Nov AU S&P/ASX quarterly index rebalance announced JP flash mfg PMI, Dec JP Tankan survey, Q4 CH fixed asset investment, Nov ALL WEATHER STOCKS
Code Company Price AMC AMCOR LIMITED 
$13.24
ARB ARB CORPORATION LIMITED 
$15.94
CSL CSL LIMITED
$181.65
REA REA GROUP LIMITED
$75.45
RMD RESMED INC
$15.94
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FNARENA TALKS
FNARENA TALKS
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FNARENA WINDOWS
Window on HEALTHCARE SERVICES
Sonic Healthcare Enhances US Footprint
Sonic Healthcare will acquire Aurora Diagnostics, which is expected to transform its US business and provide substantial revenue synergies.
1:05 PM
Window on INSURANCE
QBE Unfairly Treated For Modest Outlook
Brokers suggest the market has overreacted to QBE’s update, given the progress made in 2018 and the cost reductions outlined for the next three years.
Dec 12 2018
Window on GOLD & SILVER
Australian Gold Stocks And The Commonwealth Takeover
Marin Katusa of Katusa Research suggests Australian gold miners are in the market for North American acquisitions.
Dec 12 2018
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.
Nov 21 2018