ASX:BL is under Algo Engine buy conditions. BSL provided a trading update and now expects EBIT for 2H FY22 to be $1.375-1.475bn.
The more robust outlook is driven by improved earnings expectations for North America with better-than-expected realised steel prices and spreads in the United States.
Based on FY23 earnings we have Bluescope on a 2.3% forward dividend yield.
Pexa Group has helped transform conveyancing from a clunky paper-based process into a digital one.
FY21 underlying earnings doubled to $110 million and analysts are forecasting a further 20% increase in FY22.
CBA & Link are major shareholders.
Rebasing investor expectations for BHP without the contribution from its petroleum business places the stock on a forward yield of 6% with flat to lower adjusted EPS into FY23.
Iron ore now represents around 50%, Copper 25%, with Coal and Nickel remaining other key exposures. We expect the eventual divestment of its remaining thermal coal assets.
Fisher & Paykel Healthcare Corporation is under Algo Engine buy conditions and we expect FY22 to be the low point in earnings, with FY23 and FY24 returning to double-digit EPS growth.
Tabcorp split into two businesses yesterday:
BetaShares Global Banks offers exposure to a recovery in global bank shares.
Gold Road Resources is under Algo Engine buy conditions.
Vaneck Vectors Gold Miners is under Algo Engine buy conditions. GDX provides broad exposure to the leading global gold producers.
Newcrest Mining is under Algo Engine buy conditions.
The S&P 500 PE ratio is now within historical norms, at 16.6x. It doesn’t make the S&P 500 cheap but fairly valued when using earnings estimates for 2022.
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