Category: Analyst Research

Analyst Research

Japara Healthcare (JHC)- NEUTRAL

Japara Healthcare (JHC) reported a weak FY18 result, below guidance provided in February 2018. Group revenue was up +3.0% on pcp to $373.2m as occupancy hits were offset by contributions

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Bellamy’s Australia Ltd (BAL)– BUY

BAL reported solid FY18 results which signalled that operations are turning around fortunes (achieving strong growth in revenue, earnings and cashflow). g a significantly stronger second half relative to the first.

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Qube Holdings Ltd (QUB) – NEUTRAL

Qube Holdings (QUB) reported a solid FY18 result, in our view, with underlying revenue up +9.1%, underlying operating earnings (EBITDA) up +3.6%,

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Boral Limited (BLD) – NEUTRAL

Boral Ltd (BLD) share price was up +10.1% after BLD announced strong FY18 results, with revenue up +34%, EBITDA up +47% and underlying NPAT up +37.9% driven by full period contribution from the acquired Headwaters business and strong operating results from core business Boral Australia.

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Mayne Pharma Group (MYX)- BUY

MYX’s FY18 result came in ahead of market expectations at the earnings line, with the Company enjoying a significantly stronger second half relative to the first.

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Costa Group Holdings (CGC) – NEUTRAL

Costa Group Holdings (CGC) FY18 result missed analyst estimates with NPAT before SGARA and excluding material items of $76.7m below estimates of $80.2m and revenue of $1bn was below market expectations of $1.1bn, which saw the share price decline by…

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Newcrest Mining (NCM) – NEUTRAL

Newcrest Mining (NCM) posted full year (FY18) results which were impacted by lower production volumes in gold (-1%) and copper (-7%)

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G8 Education Ltd (GEM) – BUY

GEM’s first half calendar 2018 (1H18) highlighted that the current oversupply in the industry is not abating and will likely keep downward pressure

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IRESS Ltd (IRE) – NEUTRAL

IRESS Ltd (IRE) is an ASX-listed company that specialise in software for the finance industry, with a focus on financial markets, wealth management and superannuation. IRE operates in the Asia-Pacific, UK, South Africa and Canada.

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Northern Star Resources (NST) – Neutral

NST reported record FY18 results after a slightly disappointing half year, with key figures: 1. NPAT up +3% on the previous corresponding period (pcp) to $194.1m (excluding proceeds from asset sales in FY17); 2. Combined group EBITDA up +4% to…

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Qantas Group Ltd (QAN) – BUY

Qantas Group (QAN) posted record profit levels with growth in all segments contributing to underlying profit of $1.6bn (up +14% on pcp).

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Tassal Group (TGR) – BUY

TGR’s FY18 operating profit of $50.3m and operating EBITDA of $99.78m came in below consensus estimates of $51.2m and $105.5m respectively.

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