SPDR Property Fund – Buy
SLF:AXW is under Algo Engine buy conditions and is a current holding in our ASX ETF model portfolio.
SLF, LLC and GMG are our preferred property exposures.
Woodside Rallies 25%
Woodside Petroleum is under Algo Engine buy conditions and is a current holding in our ASX 100 model.
17/2 Update: WPL has now rallied 25%+
Goodman Group – Rallies 10%
Goodman is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We expect 14% EPS growth into FY22 .
17/2 Update: GMG has now rallied 10%+
IAG: 1H22 Earnings
Insurance Australia Group is under Algo Engine sell conditions.
1H22 cash NPAT of A$173m. Outer year growth could be material for IAG and we’ll be watching for a return to algo buy conditions later this year.
Risks to our IAG valuation and target price revolve around the pricing and claims
environment for insurers in Australia and New Zealand, including catastrophe
events.
Aurizon Holdings: 1H22 Earnings
Aurizon Holdings is under Algo Engine buy conditions. 1H22 underlying EBITDA was down 1.5% to $727m and underlying NPAT was $257m.
We expect Bulk to continue being strong, with record crop production across Australia and new
contracts, although a soft volume outlook for Coal leaves low single-digit earnings growth at best for FY22.
The dividend was $0.105 with a payout of 75%. The forward div yield is now 5.7% and EPS growth likely to be flat to +2%. OneRail transaction is progressing with key ACCC assessment due in
March.
Carsales.com: 1H22 Earnings
Carsales.Com delivered a solid 1H22 result particularly on the revenue line. The outlook has seen slight downgrades and the focus for investors will be the performance of the international businesses in FY23.
EBIT is expected to grow by 10% and the forward yield now represents 2.5% and the stock trades on 27x FY23 earnings.
Seek: 1H22 Earnings
Seek is under Algo Engine buy conditions.
The 1H22 performance looks strong, with revenue from continuing operations increasing 59% to $517m, reported profit up 152% to $126m. Total reported profit rose 32% to $88.1 million.
The company expects full-year revenue to be in the range of $1bn to $1.1bn and EBITDA to be in the range of $490m – $515m, NPAT to be in the range of $230m – $250m.
JB Hi-Fi: 1H22 Earnings
JB Hi-Fi is under Algo Engine buy conditions.
1H22 total sales fell 1.9% to $3.29bn but have increased 20% over a two-year period and net profit for the six months fell 9.4% to $288m.
JB Hi-Fi said it will return up to $250m of capital to shareholders via an off-market buyback,
BHP: 1H FY22 Earnings
BHP Group is under Algo Engine sell conditions. 1HFY22 result was strong with headline earnings above consensus and impressive cash flow supporting a higher dividend, Iron-ore being the dominant contributor.
First-half net profit US$10.68bn.
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