CIMIC provided no update on 2020 guidance, but reported its 1Q20 result with revenue of A$3.3bn, down 3% on the same time last year. NPAT was down 8% to $166mn.
We forecast 2020 full year NPAT to be in the range of A$700 – A$750mn.
Buy above $22.50 support.
Since making the above post, CIMIC has now rallied to $25.50 and we see further upside in the stock.
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Berkshire Hathaway is under Algo Engine buy conditions and is a current holding in our US S&P100 model portfolio.
We see the recent sell-off from $230 down to $160 as an opportunity for long term investors to accumulate the stock.
Investor Signals can establish a broking account for you to buy US stocks. We can advise and execute the orders on your behalf. For more information on our US broking account, please call 1300 614 002.
Australia and New Zealand Banking Group is under Algo Engine sell conditions and we see selling pressure increasing at $19.00.
Rio Tinto is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Buy on a break below $90.00
Telstra Corporation is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see buying support at $3.00 and highlight the short-term indicators have now turned positive.
TLS goes ex-div $0.05 28th August.
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Insurance Australia Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
We see buying support increasing at the $5.50 support level and the short-term momentum indicators have now turned positive.
TABCORP Holdings is under Algo Engine sell conditions.
Tabcorp is a low-growth, mature business and is facing a challenging earnings backdrop, with the retail venue closures and an uncertain sports betting outlook.
At 20x FY22 earnings, the stock is also expensive based on historical multiples. The dividend yield appears attractive but is reliant on an unsustainable payout ratio.
BHP Group is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Declining port stocks and concerns over Brazil supply support a positive outlook for iron ore prices. A combination of strong iron ore prices and the recovery in the energy complex should continue to support the BHP share price.
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