Reece is now under Algo Engine buy conditions.
The FY21 result highlighted strong sales trends in both Australia and
the US, however, costs in the US dampened the operating profit.
The market is looking for 10% EPS growth into FY22 and FY23 which places REH on 30X forward earnings and 1% dividend yield.
Update: 18/9
IPL:ASX is now under Algo Engine buy conditions and has been added to the ASX 100 model portfolio.
We expect to see a pick up in the second half earnings for IPL, which will help support the share price.
Update 18/9: IPL has since rallied 20%+
Pexa Group has helped transform conveyancing from a clunky paper-based process into a digital one. PXA was recently listed on the ASX with a market cap of $3bn.
FY21 underlying earnings are expected to double to $108 million, before rising a further 20% in FY22.
CBA & Link are major shareholders.
Update 18/9
Iron Ore prices are now down 55% from the May peak of US$230 p/t, with this week’s low of $107 p/t.
OZR:ASX is under Algo Engine buy conditions and we anticipate buying support to increase within the accumulation range of $10.50 to $12.50.
A sector sub-index of the S&P/ASX 200 Index, this index provides investors with exposure to the Resources sector of the Australian equity market as classified as members of the GICS® resources sector. Resources are defined as companies classified in the Energy sector (GICS® Tier 1), as well as companies classified in the Metals and Mining Industry (GICS® Tier 3).
U.S. retail sales unexpectedly increased in August, likely boosted by back-to-school shopping and child tax credit payments from the government, which could temper expectations for a sharp slowdown in economic growth in the third quarter.
Altium is under Algo Engine buy conditions following the entry signal at $30. Since then the stock has rallied to $36 and is up 20%+ on the entry signal.
ALU was added to our ASX high conviction model on 4 Sept.
Update 17 Sept.
Wesfarmers is under Algo Engine buy conditions and is a current holding in our model portfolio.
Wesfarmers shares are finding buying support following the recent sell-off and announcing a fresh takeover bid for Australian Pharmaceutical Industries valued at over $700 million.
Cleanaway Waste Management is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Cleanaway financial results for the year ended 30 June 2021
Statutory Net Profit After Tax (NPAT) increased 31.2% from $112.6 million to $147.7 million.
On an Underlying basis compared to the year ended 30 June 2020 (“FY20”) Cleanaway reported:
• NPAT increased 2.1% from $150.0 million to $153.2 million
• EBITDA increased 3.8% from $515.7 million to $535.1 million
• Net revenue increased 4.7% from $2.1 billion to $2.2 billion
• Operating cash flow increased 5.7% from $401.5 million to $424.4 million
• Final dividend increased 11.9% from 2.10 cents per share (cps) to 2.35 cps, taking the total dividend for the year 12.2% higher to 4.60 cps
Fortescue Metals Group has been in our ASX model portfolios since July 2019 with multiple buy signals. We are again presented with another reminder of the opportunity to accumulate FMG.
Iron ore prices are normalising faster than expected due to weak demand in China.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453