FINANCIAL NEWS
More Life Left In Life360
Life360 has doubled in share price since its March earnings result, but brokers believe further re-rating is still on the cards
11:59 AM
Part Three: Generative AI, Investing in the 21st Century Megatrend
How are global Generative AI tailwinds impacting on Australian companies, and which stocks are in the sweet-spot to benefit?
11:00 AM
Beach Energy Looks Ready
Michael Gable of Fairmont Equities believes shares in Beach Energy are ready to return to $1.90
10:30 AM
Weekly Update On LICs & LITs – 14-May-2024
Weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX
10:00 AM
The Overnight Report: ‘Fun’ Times Before US CPI
A global perspective on what happened overnight
8:38 AM
Morgan Stanley rates CHC as Overweight
Morgan Stanley lowers its FY25 EPS estimate for Charter Hall after reviewing seven Charter Hall funds for likely performance fees in FY25. It's thought three of the funds are unlikely to meet performance hurdles and total performance fees will be as low as $2m.
Despite this forecast, the broker likes Charter Hall on a 12-18 month view given the REIT is well positioned to benefit fastest/earliest than peers in the sector when the property/rate cycle turns.
Overweight rating and $14.99 target. Industry view: In-Line.
Macquarie rates FBU as Underperform
Fletcher Building announced an -11% reduction in FY24 EBIT guidance, exacerbated by a challenging April and May, particularly in the Australian market, which constitutes 40% of Fletcher's core revenue.
The revised EBIT forecast now stands -7% below consensus and -3% below the Macquarie analyst's previous estimate.
Macquarie views the company as facing structural issues, including contingent liabilities related to product liability claims. This could deter quality leadership hires and impact the firm's attractiveness for acquisition.
Earnings forecasts are adjusted for the profit warning with FY24 EPS down -13% and FY25 EPS falling by -36%.
Strategic changes and restructuring efforts, aimed at addressing these operational challenges, are yet to reflect a positive turnaround in the company’s financial outlook, the broker suggests.
Underperform rating unchanged and the target is revised to NZ$2.56 from NZ$3.23.
Citi rates FPR as Buy
FleetPartners Group's 1H net operating income (NOI) of $110m slightly missed the Citi forecast for $112m, while end-of-lease (EOL) income beat forecasts by the broker and consensus by 5% and 28%, respectively.
This greater EOL income was offset by lower NOI pre-EOL and provisions, explain the analysts.
Management increased FY24 opex guidance to $89-90m, largely due to increased new business writings (NBW) activity. NBW of $448m was -7% below Citi's estimate of $479m, though order activity is considered positive, given a seasonally soft January.
The Buy rating and $4.20 target are maintained.
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ANALYSIS & DATA
FNARENA'S MARKET CONSENSUS FORECASTS
To display the stock analysis for a company please enter the company code:
FBU | FLETCHER BUILDING LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$2.87 13 May |
OPEN $2.95 |
HIGH $2.99 |
3,807,098 LOW $2.85 |
-0.350| TARGET | |||
| $4.270 48.8% upside | |||
| Franking for last dividend paid out: 0% |
| Title | FY24 Forecast |
FY25 Forecast |
|---|---|---|
| EPS (cps) | 23.7 | xxx |
| DPS (cps) | 0.0 | xxx |
| EPS Growth | N/A | xxx |
| DPS Growth | N/A | xxx |
| PE Ratio | 11.7 | xxx |
| Dividend Yield | 0.0% | xxx |
| Div Pay Ratio(%) | N/A | xxx |
DAILY FINANCIAL NEWS
More Life Left In Life360
Life360 has doubled in share price since its March earnings result, but brokers believe further re-rating is still on the cards
11:59 AM - Small Caps
Michael Gable of Fairmont Equities believes shares in Beach Energy are ready to return to $1.90
10:30 AM - Technicals
As per the New Criterion’s Tim Boreham, Invion is an old company on a new mission
May 13 2024 - Small Caps
Overviews in raw numbers and calculations that might assist investors with assessing trends and currents that might not be apparent from daily volatility and movements
May 11 2024 - Australia
FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments
May 10 2024 - Australia
Goodman Group’s March quarter update included increased guidance on the back of data centre demand
May 09 2024 - Australia
PR NEWSWIRE
Professional Pickleball welcomes Golf Legend Adam Scott as Team Owner
10:01 AM - PR NewsWire
Synechron Acquires iGreenData, a Digital Engineering Organization Headquartered in Melbourne, Australia
9:00 AM - PR NewsWire
Bennelong Energy Services launches new EV Charging solution with Noodoe technology
May 13 2024 - PR NewsWire
Diagnostic Imaging for Women Enhances Mammography Quality with AI: Results Presented at ASMIRT 2024
May 10 2024 - PR NewsWire
Infosys and Formula E Strike New Partnership to Enable Next-Gen Fan Experiences Powered by AI and Digital Innovations
May 09 2024 - PR NewsWire
Forrester Announces Full Conference Agenda For CX Summit APAC 2024
May 09 2024 - PR NewsWire
RUDI'S VIEWS
Rudi’s View: Arcadium Lithium, Goodman Group, Paladin, Pexa & Treasury Wine
By Rudi Filapek-Vandyck, Editor Best Buys & Conviction Calls As promised in Monday's Weekly Insights, below are the latest Model…
May 09 2024
DAILY MARKET REPORTS
The Overnight Report: ‘Fun’ Times Before US CPI
A global perspective on what happened overnight
8:38 AM
ASX Winners And Losers Of Today – 13-05-24
The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day
May 13 2024
Australian Broker Call *Extra* Edition – May 13, 2024
Extra Edition of the Broker Call Report
May 13 2024
The Monday Report – 13 May 2024
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead
May 13 2024
ASX Winners And Losers Of Today – 10-05-24
The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day
May 10 2024
WEEKLY REPORTS
Weekly Update On LICs & LITs – 14-May-2024
Weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX
10:00 AM
Australian Listed Real Estate Tables – 13-05-2024
FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data
May 13 2024
Weekly Ratings, Targets, Forecast Changes – 10-05-24
Weekly update on stockbroker recommendation, target price, and earnings forecast changes
May 13 2024
In Case You Missed It – BC Extra Upgrades & Downgrades – 10-05-24
A summary of the highlights from Broker Call Extra updates throughout the week past
May 10 2024
Weekly Top Ten News Stories – 10 May 2024
Our top ten news stories from 02 May 2024 to 09 May 2024
May 10 2024
Next Week At A Glance – 13-17 May 2024
A brief look at important company events and economic data releases next week
May 10 2024
In Brief: Helium, Rate Cuts, Coal & Retailers
Weekly Broker Wrap: surging helium prices; the global interest rate outlook; met coal prices; green shoots for retailers & will an airplane shortage benefit Qantas?
May 10 2024
The Short Report – 09 May 2024
FNArena’s weekly update on short positions in the Australian share market
May 09 2024
Uranium Week: Finally, A Ban
After five months the US Senate has passed a bill banning imports of Russian uranium. The spot price has reacted accordingly
May 07 2024
THE MARKETS
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Australia
14 May 2024 Updated : 11:42 AEDT
SPI Overnight
7776.00
-8.00
-0.10%
NZ50
11645.600
-6.560
-0.060%
All Ordinaries
7999.30
-20.10
-0.25%
S&P ASX 200
7729.50
-20.50
-0.26%
S&P ASX 300
7680.40
-19.70
-0.26%
Communication Services
1501.90
-6.30
-0.42%
Consumer Discretionary
3444.00
+4.70
0.14%
Consumer Staples
11657.40
-97.20
-0.83%
Energy
10376.00
-54.90
-0.53%
Financials
7290.20
-31.90
-0.44%
Health Care
42901.00
+253.30
0.59%
Industrials
6915.30
-35.40
-0.51%
Info Technology
2237.30
-6.40
-0.29%
Materials
18094.70
-31.60
-0.17%
Real Estate
3625.90
-22.90
-0.63%
Utilities
9029.40
-16.30
-0.18%
A-REITs
1646.80
-10.50
-0.63%
All Technology Index
3041.50
-8.40
-0.28%
Banks
3044.00
-7.90
-0.26%
Gold Index
7673.20
-50.20
-0.65%
Metals & Mining
5934.60
-12.10
-0.20%
-
World
14 May 2024 Updated : 11:42 AEDT
CAD/USD
0.7312
+0.00
0.03%
EUR/JPY
168.71
+0.63
0.37%
EUR/USD
1.0786
+0.00
0.03%
GBP/USD
1.2553
+0.00
0.21%
USD/JPY
156.44
+0.57
0.36%
-
Aus Stocks
14 May 2024 Updated : 11:42 AEDT
Amcor (US)
10.37
+0.01
0.10%
Newmont (US)
42.46
-0.03
-0.07%
Rio Tinto (UK)
5565.00
-40.00
-0.71%
BHP Group (US)
57.18
-0.01
-0.02%
Rio Tinto (US)
69.84
+0.04
0.06%
ResMed (US)
217.89
+4.07
1.90%
South32 (UK)
191.00
-0.60
-0.31%
James Hardie (US)
36.38
-0.53
-1.44%
Janus Henderson (US)
32.94
+0.29
0.89%
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Click item/line to change chart
CALENDAR
Tuesday, 14 May 2024
AU federal budget JP PPI, Apr EZ ZEW business confidence, May UK unemployment, Apr US PPI, Apr AAC earnings report FLN AGM GUD investor briefing MEZ earnings report MGL AGM NXG quarterly report WPR AGM Wednesday, 15 May 2024
ALL WEATHER STOCKS
Code Company Price CAR CAR GROUP LIMITED 
$34.84
CSL CSL LIMITED 
$280.51
REA REA GROUP LIMITED
$182.40
TNE TECHNOLOGY ONE LIMITED
$16.31
WOW WOOLWORTHS GROUP LIMITED
$30.85
WEEKLY PDF
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FNARENA TALKS
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FNARENA WINDOWS
Window on SOFTWARE & SERVICES
More Life Left In Life360
Life360 has doubled in share price since its March earnings result, but brokers believe further re-rating is still on the cards
11:59 AM
Window on CLOUD SERVICES
Part Three: Generative AI, Investing in the 21st Century Megatrend
How are global Generative AI tailwinds impacting on Australian companies, and which stocks are in the sweet-spot to benefit?
11:00 AM
Window on CRUDE OIL
Beach Energy Looks Ready
Michael Gable of Fairmont Equities believes shares in Beach Energy are ready to return to $1.90
10:30 AM
SMSFUNDAMENTALS
The Hedge Fund Whisperers: Hints For Retail Investors To Unlock Alpha
Hedge funds have long been shrouded in secrecy, their billion-dollar bets whispered only in hushed tones within mahogany-lined conference rooms. These whispers can be harnessed for the astute retail investor. A succinct guide
May 02 2024