FINANCIAL NEWS

2020 Outlook: Global

Recession or recovery? The global economy is on a knife edge heading into 2020, due to ongoing uncertainties meeting renewed central bank support. How should investors greet the New Year?

Dec 06 2019


Weekly Top Ten News Stories – 6 December 2019

Our top ten news stories from 28 November 2019 to 05 December 2019

Dec 06 2019


FNArena Corporate Results Monitor – 06-12-2019

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

Dec 06 2019


Next Week At A Glance – 9-13 Dec 2019

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

Dec 06 2019


The Wrap: Consumers & Financial Advisers

Weekly Broker Wrap: cash rate; housing; consumer; port volumes; health insurance; and financial advisers.

Dec 06 2019


UBS rates APT as Sell

Pursuant to yesterday note, in which the broker reiterated its Sell rating for Afterpay Touch based on a perceived high credit risk for the BNPL sector, and higher still for Afterpay individually, the broker has increased its sales forecasts following yesterday's update from management. Both the US and UK customer bases are tracking at a higher rate than anticipated, highlighting, the broker suggests, strong execution.

But this does not detract from a valuation call based on said risk rather than discounted cash flow methodology. Sell and $17.60 target retained.

Credit Suisse rates FSF as Neutral

Credit Suisse observes the company has made a solid start to FY20, although an increasing milk price could put pressure on earnings, which remains subject to volatility.

The broker observes, having largely dealt with the balance sheet issues, the investment case for Fonterra Shareholders Fund centres on what the business will look like in the future and how it will position with regards to its capital structure and relevance as a processor of choice in the NZ milk pool.

The broker expects further progress over the next 12 months on an exit of Brazil, a strategic decision on China Farms and potentially some product and market rationalisation.

Neutral rating maintained. Target is NZ$3.85.

Morgan Stanley rates WHC as Overweight

Morgan Stanley considers the regional skills shortage at Maules Creek is of concern as contract labour costs could affect costs into FY21.

Maules Creek run-of-mine production has been downgraded to 10-11mt because of stoppages from dust events, because of water shortages, and labour shortages.

Meanwhile, the Vickery regulatory decision is delayed, which does not affect fundamentals in the broker's view. Morgan Stanley downgrades FY20 estimates for earnings per share by -20%.

Overweight rating, Attractive industry view and $4.80 target maintained.

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ANALYSIS & DATA

MARKET CONSENSUS FORECAST

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

CTX | CALTEX AUSTRALIA LIMITED

Abbreviated format - see the full version here


LAST PRICE CHANGE +/- CHANGE % VOLUME

$34.51

06 Dec
2019

0.130

OPEN

$34.35

0.38%

HIGH

$34.71

696,575

LOW

$34.28

TARGET
$34.750 0.7% upside
Franking for last dividend paid out: 100%
MARKET CONSENSUS FORECAST
CTX: 1
Title FY17
Actual
FY18
Actual
FY19
Forecast
FY20
Forecast
EPS (cps) 237.4 214.9 132.6 204.7
DPS (cps) 121.0 118.0 80.7 124.0
EPS Growth 19.3% - 9.5% - 38.3% 54.3%
DPS Growth 18.6% - 2.5% - 31.6% 53.7%
PE Ratio N/A N/A 26.0 16.9
Dividend Yield N/A N/A 2.3% 3.6%
Div Pay Ratio(%) 51.0% 54.9% 60.8% 60.6%

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DAILY FINANCIAL NEWS

FNArena Corporate Results Monitor – 06-12-2019

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

Dec 06 2019 - Australia


Adairs has expanded its range of home furnishings with the acquisition of NZ-based furniture and homewares business, Mocka.

Dec 05 2019 - Small Caps


A glance through the latest expert views and predictions about commodities. Oil; LNG; aluminium; and nickel.

Dec 04 2019 - Commodities


Ahead of the Herd’s Rick Mills examines how the growth of artificial intelligence is set to change the world.

Dec 04 2019 - FYI


Select Harvests has used strong cash flow over FY19 to pay down all debt and underpin production growth for the future.

Dec 04 2019 - Australia


The KFC Australia franchise performed strongly for Collins Foods in the first half, while Taco Bell offers a future expansion opportunity.

Dec 04 2019 - Australia


RUDI'S VIEWS

Rudi’s View: Osteopore, Whitehaven Coal and Telstra

Dear time-poor reader: a lifesciences conference, a stern warning, secular growth stocks and Conviction Calls In this Rudi's View update: -Lots Of Chutzpah…

Dec 06 2019

DAILY MARKET REPORTS

The Overnight Report: Nothing New

Wall Street fell and rallied back on trade news last night that was not news at all. Dow up 28.

Dec 06 2019


Today’s Financial Calendar – 06-12-2019

Significant Scheduled Events For 06 December, 2019

Dec 06 2019


Australian Broker Call *Extra* Edition – Dec 05, 2019

Extra Edition of the Broker Call Report

Dec 05 2019


The Overnight Report: Deal Or No Deal?

A trade deal will be signed before December 15, apparently, despite what the president said on Tuesday night. Dow up 150.

Dec 05 2019


Today’s Financial Calendar – 05-12-2019

Significant Scheduled Events For 05 December, 2019

Dec 05 2019


The Overnight Report: Trade Tantrum

The Australian and US stock markets have fallen heavily as Trump ramps up the threats in the face of trade deal stagnation. Dow down -290.

Dec 04 2019


Today’s Financial Calendar – 04-12-2019

Significant Scheduled Events For 04 December, 2019

Dec 04 2019


WEEKLY REPORTS

Weekly Top Ten News Stories – 6 December 2019

Our top ten news stories from 28 November 2019 to 05 December 2019

Dec 06 2019

Next Week At A Glance – 9-13 Dec 2019

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

Dec 06 2019

The Wrap: Consumers & Financial Advisers

Weekly Broker Wrap: cash rate; housing; consumer; port volumes; health insurance; and financial advisers.

Dec 06 2019


The Short Report – 05 Dec 2019

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

Dec 05 2019

Australian Corporate Bond Price Tables – 05-12-19

FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.

Dec 05 2019

Share Buybacks – Who’s Doing It? – 04-12-2019

Weekly Update on ASX-listed companies buying in their own stock.

Dec 04 2019


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 03 2019

Uranium Week: Everyone Wants In

Volumes in uranium markets surged in November as buyers from all corners jumped on the bandwagon.

Dec 03 2019

Four Small Cap Recovery Stocks

The New Criterion’s Tim Boreham outlines four smaller companies that have struggled but may now be on the mend.

Dec 02 2019


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THE MARKETS

    Click item/line to change chart

  • Australia

    08 December 2019   Updated : 11:42   AEDT

    SPI Overnight (Dec)

    6687.00

    +8.00

    0.12%

    All Ordinaries

    6813.50

    +22.40

    0.33%

    S&P ASX 200

    6707.00

    +24.00

    0.36%

    S&P ASX 300

    6664.30

    +22.80

    0.34%

    Consumer Discretionary

    2680.60

    +2.00

    0.07%

    Consumer Staples

    12720.70

    +33.20

    0.26%

    Energy

    11409.60

    +31.50

    0.28%

    Financials

    5961.20

    +16.90

    0.28%

    Health Care

    41214.40

    +442.00

    1.08%

    Industrials

    7092.60

    +53.10

    0.75%

    Info Technology

    1439.60

    +11.90

    0.83%

    Materials

    13354.80

    -14.30

    -0.11%

    Telecommunication

    1298.30

    +6.50

    0.50%

    Utilities

    8002.00

    +1.30

    0.02%

  • Asia

    08 December 2019   Updated : 11:42   AEDT

    NZ50

    9214.870

    -42.310

    -0.460%

    Nikkei 225

    23354.40

    +54.31

    0.23%

    Hang Seng

    26498.37

    +281.33

    1.07%

    Click item/line to change chart

  • Australasia

    08 December 2019   Updated : 11:42   AEDT

    AUD/USD

    0.6840

    0.00

    -0.07%

    AUD/NZD

    1.0442

    +0.00

    0.12%

    NZD/USD

    0.6554

    0.00

    -0.14%

    AUD/JPY

    74.32

    -0.01

    -0.01%

    SGD/AUD

    1.07

    0.00

    0.00%

    AUD/EUR

    0.6188

    +0.00

    0.41%

    AUD/GBP

    0.5207

    0.00

    -0.15%

    AUDCAD

    0.9066

    +0.00

    0.54%

  • World

    08 December 2019   Updated : 11:42   AEDT

    CAD/USD

    0.7544

    0.00

    -0.62%

    EUR/JPY

    120.10

    -0.50

    -0.42%

    EUR/USD

    1.1059

    0.00

    -0.42%

    GBP/USD

    1.3140

    +0.00

    0.11%

    USD/JPY

    108.58

    -0.01

    -0.01%

    Click item/line to change chart

  • World

    08 December 2019   Updated : 11:42   AEDT

    FTSE100

    7239.66

    +101.81

    1.43%

    DAX30

    13166.58

    +111.78

    0.86%

    DJIA

    28015.06

    +337.27

    1.22%

    S&P500

    3145.91

    +28.48

    0.91%

    Nasdaq Comp

    8656.53

    +85.83

    1.00%

    S&P500 VIX

    13.62

    -0.90

    -6.20%

    US 10-year yield

    1.842

    +0.045

    2.500%

    USD Index

    97.43

    -0.21

    -0.22%

  • Aus Stocks

    08 December 2019   Updated : 11:42   AEDT

    BHP (UK)

    1703.80

    +42.20

    2.54%

    Rio (UK)

    4206.95

    +77.45

    1.88%

    BHP (US)

    51.75

    +0.67

    1.31%

    Rio (US)

    55.37

    +0.76

    1.39%

    ResMed (US)

    150.59

    +0.41

    0.27%

    South32 (UK)

    133.10

    -1.40

    -1.04%

    James Hardie (US)

    19.90

    +0.19

    0.96%

    Telstra (US)

    12.68

    +0.03

    0.24%

    Westpac (US)

    16.61

    +0.09

    0.54%

    Click item/line to change chart

  • Spot Metals & Minerals

    06 December 2019   Updated : 08:39   AEDT

    Gold (oz)

    1475.20

    +0.50

    0.03%

    Silver (oz)

    16.93

    +0.12

    0.71%

    Copper (lb)

    2.6488

    +0.01

    0.24%

    Aluminium (lb)

    0.8013

    0.00

    -0.34%

    Lead (lb)

    0.8541

    -0.01

    -0.84%

    Nickel (lb)

    6.0093

    +0.05

    0.87%

    Zinc (lb)

    1.0203

    -0.01

    -1.11%

    Copper (t)

    5840.00

    +14.00

    0.24%

    Aluminium (t)

    1767.00

    -6.00

    -0.34%

    Lead (t)

    1883.00

    -16.00

    -0.84%

    Nickel (t)

    13248.00

    +114.00

    0.87%

    Zinc (t)

    2249.00

    -25.00

    -1.10%

    Uranium (lb) weekly

    26.10

    +0.10

    0.38%

  • Commodities Futures

    06 December 2019   Updated : 08:39   AEDT

    West Texas Crude

    58.39

    -0.14

    -0.24%

    Brent Crude

    63.38

    +0.20

    0.32%

    Iron Ore (t) futures

    88.70

    -0.30

    -0.34%

CALENDAR

Monday, 9 December 2019
JP GDP, Q3 (revision)
CIE ex-div 1c (100%)
Tuesday, 10 December 2019
AU house prices, Q3
AU NAB business confidence, Nov
AU RBA governor speaks
CH CPI & PPI, Nov
EZ ZEW investor sentiment, Dec
UK industrial production, Nov
BOQ AGM
IFL investor day
KKT ex-div 5c (100%)
Wednesday, 11 December 2019

ALL WEATHER STOCKS

Code Company Price
AMC AMCOR LIMITED

$15.01

ARB ARB CORPORATION LIMITED

$18.85

CSL CSL LIMITED

$281.00

REA REA GROUP LIMITED

$104.15

RMD RESMED INC

$22.07

WEEKLY PDF

Stories To Read From FNArena


WEEK 49

WEEK 48

WEEK 47

WEEK 46

WEEK 45

FNARENA TALKS

FNARENA WINDOWS

Window on FURNITURE & RENOVATION

Mocka Brings More Furniture To Adairs

Adairs has expanded its range of home furnishings with the acquisition of NZ-based furniture and homewares business, Mocka.

Dec 05 2019


Window on COMMODITIES

Material Matters: Energy, Aluminium & Nickel

A glance through the latest expert views and predictions about commodities. Oil; LNG; aluminium; and nickel.

Dec 04 2019


Window on TECHNOLOGY

The Promise Of AI

Ahead of the Herd’s Rick Mills examines how the growth of artificial intelligence is set to change the world.

Dec 04 2019


SMSFUNDAMENTALS

SMSFundamentals: ETF Flight To Safety

October saw strong demand for Australian fixed income ETFs, while in the US, investment in passive equity ETFs has outstripped that in active ETFs for the first time.

Nov 18 2019


FEATURE STORIES

2020 Outlook: Global

Recession or recovery? The global economy is on a knife edge heading into 2020, due to ongoing uncertainties meeting renewed central bank support. How should investors greet the New Year?

Dec 06 2019