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
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MFG | MAGELLAN FINANCIAL GROUP LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$54.80 22 Sep |
OPEN $53.99 |
HIGH $55.05 |
682,720 LOW $53.80 |
-0.190| TARGET | |||
| $59.753 9.0% upside | |||
| Franking for last dividend paid out: 75% |
| 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% |
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
THE MARKETS
-
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%
-
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%
-
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%
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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
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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