|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||19.10 - 19.38|
|52 Week Range||15.98 - 20.85|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||12.21|
|Forward Dividend & Yield||1.12 (5.87%)|
|1y Target Est||21.41|
(Bloomberg) -- A subdued domestic economy and increasing risks from an uncertain global outlook have prompted Australian companies to take a cautious view of the year ahead.With an economy that even Australian Prime Minister Scott Morrison conceded on Monday is “soft,” new tariffs from the U.S. taking effect on around $110 billion of Chinese imports earlier this week and Brexit looming at the end of next month, not a lot of companies are optimistic about their future.“It’s a difficult time for corporate Australia,” said Matt Sherwood, Perpetual’s head of investment strategy in the multi-asset team. “There’s not a lot of revenue growth out there because the economy is soft and the global picture is quite clouded at the moment.”Sales estimates were missed by 65% of the 134 companies that reported annual earnings in August, with technology the only sector to have more positive surprises than negative, according to data compiled by Bloomberg.S&P/ASX 200 companies are expected to report net income growth in line with Asian peers over the next year, according to data compiled by Bloomberg based on forward 12-month earnings. Growth is then seen slowing to 1.7% the following year, compared with almost 14% for the MSCI Asia Pacific Index, the data shows.“The one thematic out of this season was that there wasn’t a lot of revenue beats,” Sherwood said. “It may not be an environment that can actually deliver margin expansion.”Still, some analysts see scope for the Australian market to move higher in the near-term as investors embrace an economy that has avoided recession for 28 consecutive years. Sectors with an offshore focus are viewed as attractive with the Australian dollar trading near its lowest in a decade.“I like energy, I like healthcare, I like materials,” Dale Gillham, chief analyst at Wealth Within, said on Bloomberg TV on Aug. 30. “I think the next 12 months to 2-3 years on the Australian market is very, very exciting.”Australia may also get further potential stimulus from the government and central bank which will limit its downside, Morgan Stanley equity strategist Chris Nicol wrote in an Aug. 28 note, forecasting the index to trade around 6,400.The benchmark index is the highest-yielding developed market in Asia, which makes stocks an attractive prospect for domestic players. Dividends were a key surprise from the earnings season with 36% of large cap companies beating payout expectations, UBS analysts wrote in a Sept. 2 note.“It is difficult as an Australian investor not to be in Australian equities given the benefits of franking and the dividend yields,” AMP Capital Senior Economist Diana Mousina said Sept. 3.Potential concernsChinaBlackmores: Sees challenging trading in China channels in 1H FY20Cleanaway: China policy changes have led to higher sorting costs, variable pricing which may impact earningsBHP: Warns China economy to slow modestly through rest of 2019A2 Milk: Shares slump on concerns earnings growth will slow in ChinaSims: Long-term growth attractive although trade war may impact activityBellamy’s: Defers revenue target beyond FY21 as it waits for China registration processBrexitFrom Pallets to Planes, Brexit Looms Over Australian EarningsAnsell: Seeing signs of a slowdown in Eurozone, Americas adding to uncertainty in FY20; growth targets assume no Brexit shockMcMillan Shakespeare: To review U.K. business, which is putting pressure on margins and yieldsBrambles: Volatile trading, political instability hurting growth in U.K., Germany and FranceCorporate Travel: Lower end of target assumes Brexit, China trade war and Hong Kong demonstrations continue to year endFlight Centre: Continuing to monitor impacts of events including Brexit, H.K. protestsReliance Worldwide: Brexit a significant risk for FY20, along with material costsDomesticCommonwealth Bank: RBA rate cuts in June, July to lower NIM by 4bps; reviewing capital management plansREA Group: Australia 1H FY20 real estate listings seen lower vs year agoJB Hi-Fi: Sees FY20 sales in line with analyst expectationsChallenger: Domestic sales likely to face challenging operating conditions in FY20Bendigo Bank: Targeting lower cost base amid fickle sentiment, slow but steady growth in business conditions National Australia Bank: Sees more provisions in 2H; NIM up in 3Q amid lower wholesale costsSuper Retail: Trading conditions subdued in early FY20Domain: Listing volumes weak, new listings down 20% in JulyNIB Holdings: Sees margins narrowing amid weak consumer discretionary spendingSeven West: Looking for potential M&A given expected ad market decline in FY20Seek: ‘‘Volatile’’ economic conditions may impact near-term resultsDomino’s Pizza: Margin compression in ANZ hurt earnings, store opening target not metMedibank Private: Sees flat health insurance market volumes in FY20Nine Entertainment: Free-to-air revenue seen down in 1Q, recovering in 2Q; FY20 earnings growth seen matching FY19Origin Energy: Expects lower earnings from energy markets unit on electricityCosta: Trading remains challenging; mushroom pricing lower than expectedViva Energy: Retail fuel margins lower than average early 2H amid more competition, oil price volatility, weaker AUDBoral: Expect downward pressure on earnings in Australia as slowdown in residential won’t be offset by infrastructure pick upInghams: Australian margins negatively hit by higher input costs; feed costs near record highsCaltex: Economic weakness, soft retail fuel margins impact resultVirgin Australia: Cutting jobs, starting review of fleet and routesSilver liningRio Tinto: Announced special dividend worth $1 billion, affirmed 2019 production targetsAMP: Plans to raise capital, sell life unit in revised dealTreasury Wine: Expects momentum for U.S. wine brands in China to pick up once trade relationship improvesAGL Energy: Plans to buy back up to 5% issued sharesAurizon: Plans on-market share buyback up to A$300mMagellan: Seeking money from holders to launch new high conviction fundQantas: Plans to increase international capacity; domestic flat to slightly downColes: Plans special div.; fuel growth encouragingStar Entertainment: Domestic revenue improved in early FY20Fortescue: Record annual payout as iron ore prices surgeMacquarie: Plans to raise A$1b to fund investments; expects 1H result +10% y/yLink Administration: Plans on-market buyback up to 10% shares; operating cash flow improved in 2H FY19\--With assistance from Sybilla Gross, Fox Hu and Matthew Burgess.To contact the reporter on this story: Tim Smith in Sydney at email@example.comTo contact the editors responsible for this story: Lianting Tu at firstname.lastname@example.org, Rebecca Jones, Kurt SchusslerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Australia and New Zealand Banking Grp. Sydney, August 16, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Australia and New Zealand Banking Grp. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Moody's Investors Service has upgraded the ratings for three classes of notes issued by Kingfisher Trust 2016-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
The AUD/USD is trading higher after the consumer inflation report because traders are reducing the chances of a rate cut in August. However, the RBA is still likely to cut rates again in October after it receives more information on the labor market, growth and the initial impact of both the government’s tax refunds and the June/July rate cuts.
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Oil prices fell on Friday but posted their second straight week of gains ahead of trade talks between the U.S. and Chinese presidents this weekend, and on widely expected production cuts from OPEC on Monday. The most active September Brent crude futures fell 93 cents to settle at $64.74 a barrel. Brent August crude futures settled unchanged at $66.55 a barrel.
Moody's Investors Service has assigned the following definitive long-term ratings to the notes issued by Perpetual Corporate Trust Limited as trustee of Kingfisher Trust 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Investing.com - Asian markets were mixed in morning trade on Monday as Hong Kong stocks traded in the green after another mass protest over the weekend that forced an apology from the city’s chief executive.
Today we'll take a closer look at Australia and New Zealand Banking Group Limited (ASX:ANZ) from a dividend investor's...
Moody's Investors Service has assigned the following definitive rating to the bonds issued by Perpetual Limited (the Trustee) in its capacity as trustee of the SMHL Series Securitisation Fund 2019-1 (the Trust). "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. The transaction is a securitisation of first-ranking mortgage loans secured over residential properties located in Australia.
Australia's central bank cut rates to a record low on Tuesday and signalled willingness to go further as a worsening Sino-U.S. trade war raises recession risks for the world economy, pushing policymakers into what could be a global monetary easing cycle. RBA Governor Philip Lowe said the rate cut was designed to support employment growth and lift inflation, which has consistently undershot its 2%-to-3% medium-term target. "It is possible that the current policy settings will be enough – that we just need to be patient.
Investors have been keeping a close watch on the Chinese yuan, seen as a key indicator amid the intensifying U.S.-China trade war — and much concern has been centered on whether it will breach the 7 yuan per dollar key level. The currency slide would hurt Chinese firms, as well as Beijing's push for greater use of the yuan internationally, according to Khoon Goh, head of Asia research at ANZ Bank. A weakened yuan could hit regional currencies and lead to higher costs for those who hold dollar-denominated bonds, said Arthur Lau, co-head of emerging markets fixed income at PineBridge Investments.
Moody's Investors Service has assigned the following provisional long-term ratings to the notes to be issued by Perpetual Corporate Trust Limited as trustee of Kingfisher Trust 2019-1. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.