Bendigo and Adelaide Bank Ltd
.png)
BEN Details
-
Decent FY16 results: Bendigo and Adelaide Bank Ltd (ASX: BEN) stock rose 4.32% on August 08, 2016 after the company reported the marketing of TORRENS Series 2016-1 Trust, which is the latest mortgage backed securities issue under the TORRENS securitization program. The offer is of minimum value of AUD500 million with final tranche sizes to be determined subject to market conditions. The issue would be backed by Australian prime residential mortgages originated by BEN. Additionally, BEN has also come up with full year results ending 30th June, 2016. BEN’s underlying cash earnings increased 1.6% to $439.3 million during the period over FY15. On the other hand, the statutory net profit after tax fell 2% to $415.6 million. Moreover, the group’s returns on equity fell 15 basis points as compared to the last fiscal year.
-
Recommendation: BEN stock is “Expensive” at the current price of $10.15
.png)
Financial Performance for FY 16 (Source: Company Reports)
Downer EDI Limited
.png)
DOW Details
-
Better than earning-estimates for FY 16: Downer EDI Limited (ASX: DOW) stock rose 5.26% on August 08, 2016. DOW has reported net profit of $180.6m in FY 16, a 14.1% fall from the FY 15 but has beaten the expectation of the company’s own forecasts. Moreover, DOW has recently been awarded one of the first construction contracts for the City Rail Link project, an underground rail line linking Britomart and the Auckland city center with the existing western line near Mt Eden. DOW has also extended two-years’ contract to provide mining services at Stanwell Corporation’s Meandu Mine in South East Queensland. DOW has been awarded contracts by Western Australia’s Public Transport Authority (PTA) for the supply of additional 10 x 3 car B Series units and for maintenance services on all “A” and “B” series commuter fleets at approximately $512 million. Meanwhile, the stock has a good dividend yield and is trading at a reasonable P/E. The stock is trading ex-dividend on August 17, 2016.
-
Recommendation: We give a “Hold” recommendation on the stock at the current price of $5.00
Flight Centre Travel Group Ltd
.png)
FLT Details
-
New Interest Free Partner: Flight Centre Travel Group Ltd (ASX: FLT) stock rose 5.5% on August 08, 2016 after the company reported that the FlexiGroup has signed an agreement with FLT to offer its customers the benefit of interest-free finance, via its wholly owned subsidiary, Lombard Finance. Initially, FlexiGroup would make an investment of around $3m in FY17 for this. Meanwhile, FLT stock has fallen 17.74% (as on August 05, 2016) in six months.
-
Recommendation: We maintain our “Hold” recommendation on the stock at the current price of $33.40
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.