Reporting Season Second Week Review
Last week saw the Australian Reporting Season gear up in earnest, with firms accounting for more than A$400B market capitalisation reporting their Interim results. The table below is a summary of the current changes in the Skaffold metrics post-results of the major firms that reported.
Following on from the first week, Financial stocks continue to see Intrinsic Value downgrades, while Insurers are on the rise (though Suncorp disappointed, exposed by the Victorian Hail Storms).
Manufacturing and Healthcare firms are meeting expectations with Intrinsic values largely steady except for Healthscope who reported a 17% decline in operating net profit. Mining is on the valuation decline with gold producers the exception; while the improving oil price has seen the energy stocks lift their valuations.
Services continues to see the greatest range of Intrinsic valuation variation, upgrades in agricultural services (RIC) but downgrades for retail (JB Hi-Fi), gambling (Tabcorp) and intellectual property services (IPH).
Another busy reporting week beckons with over 60 key companies reporting this week.
|Sector||Name||Code||Pre-Reporting Rating||Post- Reporting Rating||Intrinsic Valuation Change|
|Financial||IOOF Holdings||IFL||B3||No Change||1%|
|Bendigo Bank||BEN||A5||No Change||-7%|
|Primary Health Care||PRY||C4||B3||0%|
|Sonic Healthcare||SHL||B4||No Change||-1%|
|Infrastructure||Transurban Grp||TCL||C4||No Change||6%|
|Aurizon Holdings||AZJ||B4||No Change||2%|
|Insurance||Insurance Aust Grp||IAG||B2||No Change||15%|
|Medibank Private||MPL||B1||No Change||1%|
|Property||Goodman Group||GMG||A3||No Change||2%|
|GPT Group||GPT||A3||No Change||0%|
|Vicinity Centres Re||VCX||A4||A3||0%|
|DEXUS Property||DXS||A3||No Change||-2%|
|Services||Ridley Corporation||RIC||B3||No Change||11%|
|Domino's Pizza||DMP||B3||No Change||6%|
|Telstra Corp.||TLS||B3||No Change||1%|
|Star Casino||SGR||A3||No Change||0%|