And yet again the ASX delivered a better-than-expected interim performance, but Citi analysts still cannot get past its valuation. Estimates have been lifted by 2%-3% and take some comfort from guidance towards further lower costs.
Read MoreBreville’s result was in line with the broker. Management expects FY earnings growth to be slightly higher than current market consensus of 11%, leading the broker to upgrade to 12.1%.
Read MoreFirst-half earnings were broadly in line with Credit Suisse estimates. Despite the better-than-expected mobile numbers, management has indicated the market remains highly competitive.
Read MoreTabcorp’s result missed the broker at the headline but the detail within the numbers was positive.
Read MoreFirst-half results were ahead of estimates on the back of higher volumes and continued improvements in costs. Credit Suisse estimates the company could raise the dividend to $0.10 a share and keep gearing below 15% over the next five years.
Read MoreFirst-half net profit was weaker than expected. Finance and display segments weighed on the overall result although Macquarie notes, elsewhere, operating trends were good.
Read MoreFirst half results revealed solid margins and steady sales and Deutsche Bank observes the recently-acquired Macpac business produced a good result that reflects significant investment undertaken in the supply chain over the last 2-3 years.
Read MoreAmcor has received EU approval to proceed with the Bemis acquisition subject to the divestment of two packaging plants in the UK and one in Ireland, which represent around US$170m of sales.
Read MoreAs regulatory uncertainty recedes Morgan Stanley suspects the focus will now shift to the company’s legal and capital structure. The broker envisages a modest upside risk from re-basing earnings.
Read MoreFirst-half results revealed a decline in earnings from continuing operations of -16%. Citi forecasts underlying EBIT for the non-network business towards the midpoint of management’s guidance range of $390-430m.
Read MoreAmcor’s result met the broker once adjusted for adverse currency moves. Flexibles delivered a reasonable result while Rigid Plastics returned to growth after a tough FY18, the broker notes. Emerging market earnings stood out in rising 9% after falling -9% the same period last year while developed market earnings were flat.
Read MoreFirst-half results disappointed Morgan Stanley, particularly margins, which are expected to narrow again in the second half, given increased front book mortgage discounts and headwinds from BBSW.
Read MoreThe company reported -$111m in net outflows in January, which have accelerated versus December and November.
Read MoreNews Corp’s Q2 report was better-than-expected, on underlying assessment, with growth at REA Group ((REA)) expected to slow, but Citi analysts consider this a temporary revenue dip only. The Q2 result was heavily dominated by full consolidation of Foxtel, point out the analysts.
Read MoreUBS found the first half impressive, although believes the confirmation that growth is set to slow has probably driven underperformance in the share price. Moreover, this could suggest earnings risk in FY20.
Read MoreFirst half result beat Morgan Stanley’s estimates. Earnings are re-based higher while sales growth assumptions are lifted for FY20 and beyond.
Read MoreFirst half results were broadly in line with guidance. Macquarie notes two construction jobs underperformed but were contained within guidance, highlighting the benefits of scale and diversity.
Read MoreFirst half results were weaker than expected because of the timing of residential settlements. However, Deutsche Bank observes office and industrial compensated.
Read MoreThe company delivered first-half results that were ahead of expectations, largely because of a positive skew in trading profits.
Read MoreFirst-half results beat Credit Suisse estimates. The broker is cautious about whether the business will still hit the upper end of its guidance range for the full year.
Read MoreMacquarie considers the first half result commendable, with net profit up 8% and ahead of expectations.
Read MoreThe third quarter result were slightly softer than Morgan Stanley expected. Primary demand growth again disappointed, although the broker questions whether there was more of an impact from the weather than management acknowledged.
Read MoreMorgans expects a strong result when the company reports its first half on February 15. The broker expects to see a large step up in new online accounts and also active customer numbers.
Read MoreUS flu dose distributions and early-season vaccination rates are up 10% and 6% respectively for the 2018-19 season. Macquarie expects a positive mix shift which will support the near-term outlook for Seqirus.
Read MoreMorgans expects the company to deliver 8% growth in revenue and 15% growth in operating earnings (EBITDA) when the first half result is reported on February 14.
Read MoreThe company is due to report its first-half result on February 21. UBS will be looking for potential strategic responses to weak operating trends.
Read MoreBoral has downgraded its guidance for FY19, while noting an earnings skew to the second half. The broker sticks with Outperform.
Read MoreAnsell has announced the acquisition of US industrial glove manufacturer, Ringers Gloves, for US$70m. UBS incorporates the acquisition into forecasts and updates for the share buyback, resulting in upgrades to earnings per share of 0.8% in FY19 and 1.6% in FY20.
Read MoreMorgans observes the stock has declined -25% over the last year, amid concerns about regulation in the electricity market and a volatile oil price.
Read MoreThe company has maintained FY19 guidance and the first half is only expected to contribute 45-47%.
Read MoreMorgans saw a strong result to finish off FY18 for Frontier Digital. Revenues were some 8.6% ahead of the broker’s expectations. Real estate portals Zameen (Pakistan) and Infocasas (Latin America) have been singled out as stand-out performers.
Read MoreThe company has sold its corporate & private clients business to Apex Group for GBP240m. UBS does not believe the transaction will have a material bearing on the outlook.
Read MoreThe company has reported a doubling of the Bellevue resource in the December quarter and grades have been boosted by the inclusion of the Viago high-grade discovery.
Read MoreThe company has provided guidance for 2019, which misses Deutsche Bank’s expectations on all fronts. First quarter production and full year production are below forecasts while cash costs are higher.
Read MoreProtests have affected APRR traffic in the December quarter and traffic is expected to slow as consumer confidence declines amid rising fuel costs. Greenway performance was also weak with traffic down -4.5% in 2018.
Read MoreIn the wake of in-house research into the Chinese infant formula market, the broker is more cautious on market outlook but positive on a2. The company is expected to outperform and gain share given its product is the highest regarded yet under-penetrated, and there is scope for price increases.
Read MoreExpectations have been downgraded but in businesses which Morgan Stanley suspects merger proponent, McMillan Shakespeare will consider non-core.
Read MoreFollowing recent strength in the iron ore price and resulting rise in the Fortescue Metals share price, Morgans downgrades to Hold from Add. Target is reduced to $5.45 from $5.68.
Read MoreGold production in the December quarter was below expectations. While production from Syama sulphide was softer, Macquarie expects the underground operation to ramp up to full capacity over the next six months.
Read MoreThe company’s dividend has been cut to $0.04 per share following additional provisions for advice remediation and a $100m top up to reserves.
Read More