🎁Weekly | BLD, JHX Earnings Show Resilience in Buliding Sector
As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 7,340.10 points, up 0.20% in the past 5 days.
During the last 5 trading days, $BORAL LIMITED(BLD.AU)$ was up 14.29%; $AMP LIMITED(AMP.AU)$ added 13.70%; $JAMES HARDIE INDUSTRIES-CDI(JHX.AU)$ was up 13.37%; $Star Entertainment(SGR.AU)$ rose 13.30%; and $Bellevue Gold(BGL.AU)$ increased 11.49%.
1. $BORAL LIMITED(BLD.AU)$+14.29%: Expects Higher Earnings in 2024 Amid Strong Demand and Price Environment
Australian cement products manufacturer Boral Ltd (BLD.AX) announced on Thursday that it anticipates higher earnings in 2024 due to strong demand and a high price environment. This positive outlook follows a 4.7% decrease in annual profit.
Revenue up 17% to $3,460.6 million
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) up 38% to $454.4 million
For the upcoming year, the company projects underlying earnings before interest and taxes (EBIT) in the range of A$270 million ($176.28 million) to A$300 million. This compares to an underlying EBIT of A$231.5 million in the fiscal year 2023.
The net profit before significant items for the year ending June 30 was reported at A$142.7 million, showing a slight decline compared to the A$149.7 million recorded in the previous year.
2. $AMP LIMITED(AMP.AU)$ +13.70%: Reports Strong Earnings with 31% Revenue Increase and Shareholder Returns
AMP Limited reported earnings results for the half year ended June 30, 2023.
AMP reported a 31% increase in revenue from continuing operations to $1,424 million and a 23.9% lift in underlying net profit after tax to $57 million.
AMP will pay an interim dividend of 2.5 cents per share, and it has also announced a share buyback valued at nearly $400 million.
AMP has returned $610 million of capital to shareholders since August 2022, the company reported. The interim dividend is estimated to return some $140 million, and AMP has paid down $302 million in July 2023 alone.
3. $JAMES HARDIE INDUSTRIES-CDI(JHX.AU)$ +13.37%: Jumps on Margins Improvement
The stock of James Hardie Industries, a prominent building products group, experienced a remarkable surge, climbing by a substantial 14.4% to reach $46.62 on Tuesday. This marked the stock's highest level since early last year.
James Hardie managed to bolster its margins. Notably, the company implemented price hikes of 12% in its operations in Australia and New Zealand.
Earnings before interest and tax margins in the Asia-Pacific region – largely Australia and New Zealand, with a small contribution from the Philippines – jumped by 750 basis points to 33.1 per cent. EBIT rose 35 per cent to $69.5 million in the three months to June.
UBS analyst Lee Power said margins in all three of the company’s main regions were ahead of expectations. He has a “buy” rating on the stock, and a valuation of $49.50 a share.
Citi analyst Samuel Seow said the June quarter result was materially higher than expected and that it showed the company was able to offset declining volumes.
James Hardie's strong financial performance and its ability to navigate challenging conditions in the construction industry have drawn positive attention from analysts and investors alike.
4. $Star Entertainment(SGR.AU)$ +13.30%: Navigates Casino Duty Challenges with In-Principle Agreement
The Star Entertainment Group faced potential challenges due to proposed increases in casino duty rates by the former New South Wales Treasurer. The company disagreed with the original proposal, citing concerns about its viability and the potential impact on jobs.
However, the good news is that The Star reached an in-principle agreement with the new NSW Treasurer, Daniel Mookhey. This agreement aims to amend the duty arrangements with the state in a way that ensures a sustainable outcome for The Star and protects the jobs of its team members.
The next steps involve formalizing the amendments through long-form binding agreements with the Treasury. The anticipated additional duty payable for FY24 is approximately $10 million, and the company plans to introduce a trial of its cashless gaming machine technology.
This agreement allows The Star to work towards restoring its Sydney operations, earning back community trust, and remaining a valuable contributor to the NSW economy.
5. $Bellevue Gold(BGL.AU)$ +11.49%: The Winner as Gold Hits a Record High
Spot gold prices hit a record intraday high of $2,072.5 on Aug. 7, 2020, and analysts say that prices can hit, and even push past that record.
Some analysts said gold may surpass that level, potentially reaching over $2,100 in late 2023 or early 2024, driven by a pause in the U.S. Federal Reserve tightening cycle.
Gold has outperformed other major asset classes, resisting rising interest rates and serving as a safe haven against inflation.
How do you view the top movers?
Leave your comments to win tiger coins!
Rewards
All valid comments on the following post will receive 5 Tiger Coins.
The First 10 and Last 10 Commentator with qualified comments will receive another 10 Tiger Coins.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Boral is Australia's largest vertically integrated construction materials company including quarry and cement infrastructure, bitumen and asphalt.
Boral's share price is up 72% year to date. Boral ticks all the core fundamentals of a quality stock.
@ASX_Stars
🌟🌟🌟地平線上有一線希望$Star Entertainment(SGR.AU)$ 克里斯·明斯領導下的現任工黨州政府的最新生命線是未來7年的過渡性稅收。上屆政府曾提議將撲克機關稅稅率提高至60.67%。現在，新稅率將在2027年升至22.91%，並一直保持到2030年年中。
財務主管丹尼爾·穆克希給出的主要原因是數千個工作崗位處於危險之中。
Performance wise Star Entertainment的股價昨天上漲了17%，但今年迄今仍下跌了31%。去年，當它因未能遵守反貨幣法而被新南威爾士州和昆士蘭州罰款1億澳元時，其股價暴跌。
明星娛樂擁有悉尼的明星，明星黃金海岸和布里斯班財政部。
我認爲明星娛樂被低估了，隨着這一最新發展，這將是一個很好的購買。2021年，它的交易價格高達4.07澳元。
@ASX_Stars
Come and join the discussion ya my friends @koolgal @rL @icycrystal @b1uesky @Universe宇宙 @Aqa @GoodLife99
🌟🌟🌟$JAMES HARDIE INDUSTRIES-CDI(JHX.AU)$ is the world's no. 1 producer and marketer of high performance fiber cement siding and backer board and a market leader in Europe for fiber gypsum products. North America generated about 80% of its earnings. It also sells in Australia, New Zealand and Philippines.
I am impressed with James Hardie's latest earnings results despite the downturn in housing markets. It shows the calibre of its management team that is able to navigate challenging conditions.
Performance wise James Hardie is up 12% on the past 5 days and a massive 77% year todate.
I like that James Hardie has a wide moat due to its being a market leader in its field of fibre cement based building products. It also ticks all the core fundamentals of a quality stock with great profitability, excellent Balance Sheet and a great management team.
Best of all James Hardie pays steady dividends while waiting for capital growth. The current dividend yield is 2%.
@ASX_Stars
That agreement will see Genesis Minerals process material from the Bellevue Gold Mine, predominantly from the Vanguard open pit, at its Gwalia processing facility.
This is great news for the company because it will enable Bellevue to generate early cash flow in the current quarter ahead of scheduled processing at the Bellevue Gold Mine plant in the December quarter.
This news went down well with analysts at Macquarie. In response, the broker has retained its outperform rating and increased its price target to $1.80.
This suggests that the Bellevue Gold share price may not have peaked yet despite its impressive gains.