FINANCIAL NEWS
FNArena Corporate Results Monitor – 23-08-2019
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Aug 23 2019
Margins Colour McMillan Shakespeare’s Outlook
Brokers say McMillan Shakespeare could outperform as car leasing and salary packaging businesses continue to grow.
Aug 23 2019
Weekly Top Ten News Stories
Our top ten news stories from 15 August 2019 to 22 August 2019
Aug 23 2019
Next Week At A Glance
A brief look at important company events and economic data releases next week.
Aug 23 2019
ESG Focus: A Steady Diet Of Plastic
Ahead of the Herd’s Rick Mills shares some confronting data with regard global plastic waste and unwitting human consumption.
Aug 23 2019
UBS rates COL as Sell
The company's maiden FY19 result was messy, UBS observes, but in line with expectations. Supermarket earnings were 3% ahead of the brokers forecasts.
The company has flagged a challenging first quarter for supermarkets and the potential for a drag on working capital via tobacco changes in the first half.
UBS retains a Sell rating, although becoming less negative, expecting the top-line and margin will improve into the second half. Target is raised to $12.65 from $12.30.
Morgans rates LOV as Add
Lovisa Holdings' FY19 result outpaced Morgans estimates by roughly 3% to 5%, thanks to strong revenue from acceleration in like for like sales.
The broker notes the growth absorbed substantial regional investment returning very strong cash generation, resulting in a 22% increase in the dividend, and a 2.6% rise in EPS.
The broker says the company's hedge rate will pose a hurdle in FY20 (-9%), in part offset by lower operating costs. Morgans upgrades sales growth and top-line earnings assumptions but downgrades EPS estimates to account for higher depreciation and amortisation.
Add rating retained despite high multiples, the broker expecting meaningful growth will be logged once operating leverage returns. Target price rises to $13.66 from $13.15.
Citi rates PPT as Neutral
The new CEO is actively looking for acquisitions. Citi thinks further expansion into global equities is probably on his radar. No surprise, since the core business in Australia continues to suffer.
With sub-optimal investment performance (Citi's description) and most of Perpetual's remaining institutional FuM of $7bn relating to industry funds, Citi continues to see risk of further outflows.
Costs are being lowered, but this is a hard business to turn around, suggest the analysts. They are not surprised acquisitions are being sought, and hard. Neutral. Price target falls to $38.50 from $39.50.
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ANALYSIS & DATA
MARKET CONSENSUS FORECAST
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PPT | PERPETUAL LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$35.06 23 Aug |
OPEN $35.50 |
HIGH $35.62 |
307,875 LOW $34.69 |
-0.880| TARGET | |||
| $37.596 7.2% upside | |||
| Franking for last dividend paid out: 100% |
| Title | FY18 Actual |
FY19 Actual |
FY20 Forecast |
FY21 Forecast |
|---|---|---|---|---|
| EPS (cps) | 305.0 | N/A | 248.8 | 261.6 |
| DPS (cps) | 275.0 | N/A | 229.5 | 243.5 |
| EPS Growth | 1.7% | N/A | N/A | 5.1% |
| DPS Growth | 3.8% | N/A | N/A | 6.1% |
| PE Ratio | N/A | N/A | 14.1 | 13.4 |
| Dividend Yield | N/A | N/A | 6.5% | 6.9% |
| Div Pay Ratio(%) | 90.2% | N/A | 92.2% | 93.1% |
DAILY FINANCIAL NEWS
FNArena Corporate Results Monitor – 23-08-2019
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Aug 23 2019 - Australia
Brokers say McMillan Shakespeare could outperform as car leasing and salary packaging businesses continue to grow.
Aug 23 2019 - Australia
Ahead of the Herd’s Rick Mills shares some confronting data with regard global plastic waste and unwitting human consumption.
Aug 23 2019 - ESG Focus
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Aug 22 2019 - Australia
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.
Aug 21 2019 - Australia
Smartgroup Corp has proved resilient in the first half of 2019, recording growth in novated leasing and salary packaging despite a difficult macro environment.
Aug 21 2019 - Small Caps
RUDI'S VIEWS
August Reporting Season: Early Signals
Dear time-poor reader: early beats and misses from corporate results, plus an update on global dividends. In this week's Weekly…
Aug 22 2019
DAILY MARKET REPORTS
The Overnight Report: Manufacturing Malaise
Weak PMI data from across the globe put a spotlight on monetary policy ahead of Jackson Hole speeches tonight. Dow up 49.
Aug 23 2019
Today’s Financial Calendar – 23-08-2019
Significant Scheduled Events For 23 August, 2019
Aug 23 2019
The Overnight Report: Inversion Aversion
A retail-led rally on Wall Street was clipped by the Fed minutes as the US yield curve again flattened. Dow up 240.
Aug 22 2019
Today’s Financial Calendar – 22-08-2019
Significant Scheduled Events For 22 August, 2019
Aug 22 2019
The Overnight Report: As You Were
The three-day surge on Wall Street ended last night with a pullback that did not surprise, although selling accelerated into the close. Dow down -173.
Aug 21 2019
Today’s Financial Calendar – 21 August 2019
Significant Scheduled Events For 21 August, 2019
Aug 21 2019
The Overnight Report: Fiscal Firepower
Germany, China and the US are all now looking at fiscal stimulus measures, further relieving Wall Street investors. Dow up 249.
Aug 20 2019
WEEKLY REPORTS
Weekly Top Ten News Stories
Our top ten news stories from 15 August 2019 to 22 August 2019
Aug 23 2019
Next Week At A Glance
A brief look at important company events and economic data releases next week.
Aug 23 2019
The Short Report – 22 August 2019
FNArena’s weekly update on short positions in the Australian share market.
Aug 22 2019
Australian Corporate Bond Price Tables – 22-08-19
FNArena provides a weekly update of Australian listed corporate bond issues, current pricing and yield data.
Aug 22 2019
Share Buybacks – Who’s Doing It? 21-8-19
Weekly Update on ASX-listed companies buying in their own stock.
Aug 21 2019
Uranium Week: One Is The Loneliest Number
Volume soared in the spot uranium market to one transaction last week following the prior week’s lack of any transaction.
Aug 20 2019
Weekly Ratings, Targets, Forecast Changes – 19-08-19
Weekly update on stockbroker recommendation, target price, and earnings forecast changes.
Aug 19 2019
Weekly Top Ten News Stories 8-15 August 2019
Our top ten news stories from 08 August 2019 to 15 August 2019
Aug 16 2019
Next Week At A Glance – 19-23 August 2019
A brief look at important company events and economic data releases next week.
Aug 16 2019
THE MARKETS
-
Asia
24 August 2019 Updated : 17:42 AEDT
NZ50
9214.870
-42.310
-0.460%
Nikkei 225
20710.91
+82.90
0.40%
Hang Seng
26179.33
+130.61
0.50%
-
World
24 August 2019 Updated : 17:42 AEDT
CAD/USD
0.7501
0.00
-0.09%
EUR/JPY
118.48
+0.54
0.46%
EUR/USD
1.1241
+0.02
1.64%
GBP/USD
1.2278
+0.01
0.57%
USD/JPY
105.41
-1.23
-1.15%
-
Aus Stocks
24 August 2019 Updated : 17:42 AEDT
BHP (UK)
1680.40
-18.20
-1.07%
Rio (UK)
3924.50
-21.50
-0.54%
BHP (US)
46.69
-0.56
-1.19%
Rio (US)
47.98
-
-
ResMed (US)
132.18
-3.86
-2.84%
South32 (UK)
133.48
-11.38
-7.86%
James Hardie (US)
15.39
-0.20
-1.28%
Telstra (US)
12.47
+0.03
0.24%
Westpac (US)
18.53
-0.32
-1.70%
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CALENDAR
Monday, 26 August 2019
NZ trade balance, Jul UK markets closed US durable goods orders, Jul ADH earnings result AMA earnings result AYS earnings result AZJ ex-div 12.4c (70%) BLD earnings result BST ex-div 2.25c (100%) CTP earnings result EVN ex-div 6c (100%) FMG earnings result GEM earnings result ALL WEATHER STOCKS
Code Company Price AMC AMCOR LIMITED $14.37
ARB ARB CORPORATION LIMITED 
$18.38
CSL CSL LIMITED
$238.35
REA REA GROUP LIMITED
$105.22
RMD RESMED INC 
$20.19
WEEKLY PDF
Stories To Read From FNArena
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FNARENA TALKS
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FNARENA WINDOWS
Window on VEHICLE LEASING & SALARY PACKAGING
Margins Colour McMillan Shakespeare’s Outlook
Brokers say McMillan Shakespeare could outperform as car leasing and salary packaging businesses continue to grow.
Aug 23 2019
Window on VEHICLE LEASING & SALARY PACKAGING
Smartgroup Cruising Comfortably
Smartgroup Corp has proved resilient in the first half of 2019, recording growth in novated leasing and salary packaging despite a difficult macro environment.
Aug 21 2019
Window on MINING
Material Matters: Gold Rises, Nickel Shines, Iron Ore Suffers
A glance through the latest expert views and predictions about commodities. Gold up on safe haven buying; base metals drop on economic uncertainty; nickel shines; China steel-making slowdown hits iron ore and metallurgical coal.
Aug 21 2019
SMSFUNDAMENTALS
SMSFundamentals: Just One Fund Please
Super members want government to lead on multiple accounts and default funds.
Jul 30 2019