Category: Analyst Research

Analyst Research

Monadelphous Group Ltd (MND) – NEUTRAL

Monadelphous Group Ltd (MND) posted lackluster results which missed the majority of analysts’ estimates on all fronts, even though the company saw a +41.1% increase (over the previous corresponding period, pcp) in revenue to $1.78bn,

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Chorus Ltd (CNU) – NEUTRAL

Chorus Ltd (CNU) reported earnings (NPAT) of $85m and EBITDA of $653m for FY18, modestly above the top end of the management’s FY18 guidance range of $625m-$650m but coming well below consensus estimates.

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BWP Trust (BWP) – NEUTRAL

BWP Trust (BWP) recorded robust FY18 results despite adverse impacts of Bunnings (Wesfarmers Ltd, ASX: WES) vacating various locations

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Star Entertainment Group (SGR) – NEUTRAL

The Star Entertainment Group Ltd (SGR) owns and operates The Star, in Sydney, NSW which includes Hotels, apartment complex, restaurants, …

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Monash IVF Group Ltd (MVF) – BUY

Despite posting falling headline numbers across the board, Monash IVF Group’s (IVF) FY18 results came largely in line with consensus estimates and within management guidance.

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Regis Healthcare (REG) – NEUTRAL

The share price of Regis Healthcare Ltd (REG) saw a marginal decline of -1.7% after the company reported FY18 revenue of $594.4m and normalized EBITDA of $117.1m, which came in below consensus estimate of $603.3m and $119.9m respectively.

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NEXTDC Ltd (NXT) – BUY

NEXTDC Ltd (NXT) reported solid FY18 results, which saw revenue up +30% to $161.5m and the strong operating leverage saw underlying EBITDA increase by +28% to $62.6, both figures surpassing guidance ranges of $152 – 158m and $58 – 62m respectively.

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Perpetual Ltd (PPT) – BUY

Perpetual Ltd (PPT) delivered solid results in FY18, with NPAT of $140.2m (up +2%) which was in line with consensus estimates, lifting the stock price marginally by +3.6%.

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Ramsay Health Care (RHC) – NEUTRAL

RHC reported FY18 results in line with its pre-announced disappointing June 2018 trading update where the Company revised guidance.

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Afterpay Touch Group (APT) – BUY

Afterpay Touch Group (APT) FY18 results were largely well understood by the market given the business updates leading into the results

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Caltex Australia Ltd (CTX) – BUY

Caltex Australia’s (CTX) first half FY18 (1H18) results were in line with guidance, with RCOP (replacement cost operating profit) of $296m (+1% on pcp). Total Group revenue was up +19.5% at $21.4bn, while underlying replacement cost EBIT grew +15.0% to $935m, Lytton Refinery the key delta driver ($103m incremental EBIT).

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Orocobre Ltd (ORE)- SPECULATIVE BUY

Orocobre (ORE) posted solid numbers which beat more than half of analysts’ estimates at the net income and EPS line, largely driven by strong results from increasing contract lithium prices coupled

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