Daily FNArena News - Australia

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

The severe drought on Australia’s east coast augurs poorly for Graincorp over FY19 but the company has surprised brokers with an upgrade to its FY18 earnings guidance.

The outlook for the A-REIT sector is relatively benign, as brokers note portfolio fundamentals are healthy and gearing is generally low. The favoured segment is office while headwinds continue for retail.

WA gold miner is hoping to leverage the expertise it has gained in revitalising operations at Jundee by extending life of Alaska’s Pogo mine.

Online business continues to advance rapidly and this is driving heightened expenditure as retailers adapt. Meanwhile, housing-related headwinds persist for the consumer sector.

Galaxy Resources has obtained necessary funds via the sale of northern tenements in Argentina to push ahead with its Sal de Vida project, which also brings the timing of the James Bay decision closer.

Sales at Harvey Norman’s Australian franchises have continued to weaken in the first months of FY19 so the focus is turning to offshore expansion to drive revenue and growth.

FNArena’s Monitor keeps track of corporate earnings result releases, including broker views, ratings and target price changes and beat/miss assessments.

The operating outlook for aged care providers is difficult, as revenue growth is constrained by a freeze on government funding. Regis Healthcare is weathering the environment better than most, brokers believe.

Data centre builder and operator NextDC did not add any major customers during the second half of FY18 which has triggered concerns from several brokers.