FINANCIAL NEWS
ASX Winners And Losers Of Today – 02-07-24
The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day
Jul 02 2024
Steadfast’s Long March
Insurance broker Steadfast is taking a measured, longer term approach to domestic and international expansion, organically and inorganically
Jul 02 2024
Uranium Week: June Closes With A Gain
The month of June was relatively stable for U308 prices in light of the longer term Russian importation fuel ban and the US Department of Energy near term waiver exemptions
Jul 02 2024
Weekly Update On LICs & LITs – 02-Jul-2024
Weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX
Jul 02 2024
Macquarie Destined For Fresh All-Time High
Michael Gable of Fairmont Equities suggests Macquarie Group shares have laid the groundwork for the next rally towards a fresh all-time record high
Jul 02 2024
Bell Potter rates ADA as Buy
Adacel Technologies's cloudy trading update advises its FAA contract, awarded in the June half, has been protested by another tenderer and FAA is re-evaluating that tenderer's revised proposal. A decision is due in early September but the company retains its FY24 earnings (EBITDA) and profit-before tax guidance range.
That's after including one-time restructuring, severances and legal and professional charges totalling -US$0.7m in FY24.
Bell Potter expects Adacel Technologies will retain the contract given it designed the systems and owns the IP, but downgrades its FY24 EBITDA and pre-tax profit forecasts to reflect the charges.
Price target falls -6% to 75c. Buy rating retained.
Citi rates LOV as Neutral
Citi believes Lovisa Holdings could report lower-than-expected new stores in the FY24 results after the CEO posted on LinkedIn (July 1) of the 900th store opening, which compares to FY24 consensus estimates of 913 new stores.
Offsetting this was another post, highlighting the 2025 store rollout to reach around 1000 stores, which compares to the consensus forecast of 985 in the 1H2025.
The analyst does not believe these posts are guidance, however the share price is up 31% year-to-date and Citi points to the potential for disappointment at the FY24 results.
Neutral rating and $31.65 target unchanged.
Macquarie rates QBE as Neutral
Macquarie is expecting gross written premium growth for QBE Insurance of 5.0%, slightly above the mid-single-digit guidance for FY24, and a combined operating ratio of 93.8% compared to guidance of 93.5%.
Despite short-term positive factors for the company, Macquarie highlights QBE Insurance is trading at an 11.8% premium to its weighted international peers, significantly above the three-year average premium of around 2.3%.
The analyst revises EPS forecasts by 2.9% for FY24 and 5.2% for FY25, with an increase in the target price to $18.40 from $18.
Neutral rating unhanged,
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ANALYSIS & DATA
FNARENA'S MARKET CONSENSUS FORECASTS
To display the stock analysis for a company please enter the company code:
ANZ | ANZ GROUP HOLDINGS LIMITED
Abbreviated format - see the full version here
| LAST PRICE | CHANGE +/- | CHANGE % | VOLUME |
|---|---|---|---|
|
$28.45 01 Jul |
OPEN $28.10 |
HIGH $28.46 |
3,574,595 LOW $28.02 |
0.210| TARGET | |||
| $27.588 -3.0% downside | |||
| Franking for last dividend paid out: 65% |
| Title | FY22 Actual |
FY23 Actual |
FY24 Forecast |
FY25 Forecast |
|---|---|---|---|---|
| EPS (cps) | xxx | 236.8 | 225.6 | xxx |
| DPS (cps) | xxx | 175.0 | 165.0 | xxx |
| EPS Growth | xxx | - 5.3% | - 4.7% | xxx |
| DPS Growth | xxx | 20.3% | - 5.7% | xxx |
| PE Ratio | xxx | N/A | 12.5 | xxx |
| Dividend Yield | xxx | N/A | 5.8% | xxx |
| Div Pay Ratio(%) | xxx | 73.9% | 73.1% | xxx |
DAILY FINANCIAL NEWS
Steadfast’s Long March
Insurance broker Steadfast is taking a measured, longer term approach to domestic and international expansion, organically and inorganically
Jul 02 2024 - Australia
Michael Gable of Fairmont Equities suggests Macquarie Group shares have laid the groundwork for the next rally towards a fresh all-time record high
Jul 02 2024 - Technicals
The New Criterion’s Tim Boreham highlights the gold/silver ratio has blown out, and the ASX has multiple options available for investors seeking exposure to a potential silver catch-up
Jul 02 2024 - Commodities
Last week’s investor briefings saw management at Aristocrat Leisure communicating some aggressive aspirational targets
Jul 01 2024 - Australia
Analysts praise the Reece business but harbour valuation concerns and sound caution around housing markets in both the US and the A&NZ region
Jul 01 2024 - Australia
Overviews in raw numbers and calculations that might assist investors with assessing trends and currents that might not be apparent from daily volatility and movements
Jun 29 2024 - Australia
PR NEWSWIRE
AUSSIES DON’T KNOW DRINK DRIVE LIMIT
Jul 02 2024 - PR NewsWire
Seedtag Enters Australian Market with Acquisition of JustEggs
Jul 02 2024 - PR NewsWire
Seedtag Enters Australian Market with Acquisition of JustEggs
Jul 02 2024 - PR NewsWire
LT Foods partners with Australian restaurants to celebrate third edition of DAAWAT® World Biryani Day
Jul 02 2024 - PR NewsWire
Cicada Innovations calls for systems approach to ‘turbocharge’ Future Made in Australia act, announces Tech23 cohort
Jul 02 2024 - PR NewsWire
Block Earner Wins Excellence in Blockchain/Distributed Ledger Award at 2024 Finnies and Secures Recognition at WeMoney Awards
Jul 02 2024 - PR NewsWire
RUDI'S VIEWS
Rudi’s View: Copper, Lithium, Retailers & TechnologyOne
Updates on strategies, model portfolios, key picks, best buys and conviction calls
Jun 27 2024
DAILY MARKET REPORTS
ASX Winners And Losers Of Today – 02-07-24
The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day
Jul 02 2024
ASX Winners And Losers Of Today – 01-07-24
The table inside ranks the 20 biggest percentage winners and losers among stocks in the ASX300 at the end of each trading day
Jul 01 2024
Australian Broker Call *Extra* Edition – Jul 01, 2024
Extra Edition of the Broker Call Report
Jul 01 2024
The Monday Report – 01 July 2024
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead
Jul 01 2024
WEEKLY REPORTS
Uranium Week: June Closes With A Gain
The month of June was relatively stable for U308 prices in light of the longer term Russian importation fuel ban and the US Department of Energy near term waiver exemptions
Jul 02 2024
Weekly Update On LICs & LITs – 02-Jul-2024
Weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX
Jul 02 2024
Australian Listed Real Estate Tables – 01-07-2024
FNArena provides a weekly update of Australian listed real estate trusts (REIT) and property developers, current pricing yield and valuation data
Jul 01 2024
Weekly Ratings, Targets, Forecast Changes – 28-06-24
Weekly update on stockbroker recommendation, target price, and earnings forecast changes
Jul 01 2024
Next Week At A Glance – 1-5 – July 2024
A brief look at important company events and economic data releases next week
Jun 28 2024
In Case You Missed It – BC Extra Upgrades & Downgrades – 28-06-24
A summary of the highlights from Broker Call Extra updates throughout the week past
Jun 28 2024
Weekly Top Ten News Stories – 28 June 2024
Our top ten news stories from 20 June 2024 to 27 June 2024
Jun 28 2024
In Brief: EVs Crash The Lithium Party
Weekly Broker Wrap: Brokers take the knife to lithium prices; Morgan Stanley sours (again) on big Aussie banks; Rabobank explains how we can keep smashing the avo toast, and a noisy US election on the cards
Jun 28 2024
The Short Report – 27 Jun 2024
FNArena’s weekly update on short positions in the Australian share market
Jun 27 2024
THE MARKETS
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Australia
03 July 2024 Updated : 07:12 AEDT
SPI Overnight
7721.00
+18.00
0.23%
NZ50
11776.730
-12.660
-0.110%
All Ordinaries
7959.70
-32.60
-0.41%
S&P ASX 200
7718.20
-32.50
-0.42%
S&P ASX 300
7658.80
-32.10
-0.42%
Communication Services
1482.20
-4.40
-0.30%
Consumer Discretionary
3470.50
-32.30
-0.92%
Consumer Staples
12231.70
-47.30
-0.39%
Energy
10268.10
+201.00
2.00%
Financials
7583.80
-33.80
-0.44%
Health Care
43411.30
-142.90
-0.33%
Industrials
6762.60
-24.00
-0.35%
Info Technology
2283.90
-5.90
-0.26%
Materials
16949.00
-102.20
-0.60%
Real Estate
3543.60
-50.90
-1.42%
Utilities
9288.80
-0.60
-0.01%
A-REITs
1613.60
-23.90
-1.46%
All Technology Index
3066.80
-11.90
-0.39%
Banks
3164.80
-18.70
-0.59%
Gold Index
7320.10
+20.40
0.28%
Metals & Mining
5585.80
-27.00
-0.48%
-
World
03 July 2024 Updated : 07:12 AEDT
CAD/USD
0.7310
+0.00
0.38%
EUR/JPY
173.51
+0.36
0.21%
EUR/USD
1.0745
+0.00
0.32%
GBP/USD
1.2680
+0.00
0.38%
USD/JPY
161.44
-0.21
-0.13%
-
Aus Stocks
03 July 2024 Updated : 07:12 AEDT
Amcor (US)
9.58
-0.02
-0.21%
Newmont (US)
41.71
+0.06
0.14%
Rio Tinto (UK)
5151.00
-83.00
-1.59%
BHP Group (US)
57.75
+0.04
0.07%
Rio Tinto (US)
66.01
-0.40
-0.60%
ResMed (US)
189.35
+2.41
1.29%
South32 (UK)
197.80
+0.10
0.05%
James Hardie (US)
31.67
+0.03
0.09%
Janus Henderson (US)
34.44
+0.89
2.65%
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CALENDAR
Wednesday, 3 July 2024
NZ ANZ consumers prices (June) AU Building Approvals (May) CH Caixin services PMI EZ PPI US ADP Non-farm payrolls US Factory orders (May) US FOMC minutes (June) US Trade balance (May) XX service PMIs GNC ex-div 24c (100%) Thursday, 4 July 2024
AU Trade balance (May) EZ German factory orders ALL WEATHER STOCKS
Code Company Price CAR CAR GROUP LIMITED 
$34.37 CSL CSL LIMITED
$292.08 REA REA GROUP LIMITED 
$192.75 TNE TECHNOLOGY ONE LIMITED
$18.31 WOW WOOLWORTHS GROUP LIMITED
$33.30 WEEKLY PDF
Stories To Read From FNArena
WEEK 26
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WEEK 24
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WEEK 22
FNARENA TALKS
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FNARENA WINDOWS
Window on INSURANCE
Steadfast’s Long March
Insurance broker Steadfast is taking a measured, longer term approach to domestic and international expansion, organically and inorganically
Jul 02 2024
Window on URANIUM
Uranium Week: June Closes With A Gain
The month of June was relatively stable for U308 prices in light of the longer term Russian importation fuel ban and the US Department of Energy near term waiver exemptions
Jul 02 2024
Window on WEALTH MANAGEMENT & INVESTMENTS
Weekly Update On LICs & LITs – 02-Jul-2024
Weekly update of Listed Investment Companies (LICs) & Listed Investment Trusts (LITs) on the ASX
Jul 02 2024
SMSFUNDAMENTALS
SMSFundamentals: Leveraging Mean Reversion For Decisive Investment Returns
A mean reversion strategy can yield favourable returns but it’s not by default as easy as it looks like in hindsight
Jun 12 2024