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,

JB Hi Fi – Up 167%

JB Hi-Fi is under Algo Engine buy conditions and is a current holding in our ASX 100 model. The stock is up 126% since being added back in November 2017.

FY21 group sales rose 12% to $8.9 billion and profit jumped to $506 million, which was largely in line with consensus forecasts, however, the electronics retailer warned that the 2022 financial year has had a softer start.

JB Hi-Fi – FY20 Earnings

JB Hi-Fi is among the best-performing stocks within our ASX 100 model portfolio. The stock was added back on the 3rd of November 2017 after switching to Algo Engine buy conditions.

JB Hi-Fi delivered FY20 underlying NPAT of $332mn above the top end of the guidance range of $325 to $330 million.

The 2H20 dividend of $0.90 was above consensus. Overall, the result was ahead of expectations, however, near-term risks to discretionary spending are high.

JB Hi-Fi Short Sellers Retreat

JB Hi-Fi is under Algo Engine buy conditions and was added to the ASX 100 model in late 2017.

JBH was one of the top performers in March, rallying over 15%. Part of this strength can be attributed to short sellers buying back, or closing out their positions. This is reflected in the fall in data on “open shorts” in JBH.




Algo Update – JB Hi-Fi

Strong retail data supports JB Hi-Fi and we believe the share price represent good value over the medium-term .

JBH has gone ex dividend today for 46 cents, which represents a forward yield of 5%.

We see solid chart support in the $24.80 to $25.00 range.