Select Harvests Limited
SHV Details
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Significant fall in underlying earnings of FY 16: Select Harvests Limited (ASX: SHV) stock fell over 7.1% on August 26, 2016 after the company reported a lower than estimated FY 16 results. SHV has reported FY16 net profit after tax (NPAT) of $33.8m and the underlying net profit after tax (NPAT) of $27.9m, which is down from $59.4m in FY 15. The underlying earnings per share (EPS) declined to 38.5 cents per share against FY15 EPS of 86.8 cps. On the other side, the stock has already risen 34.7% in the last six months (as on August 26, 2016, placing the stock at higher levels.
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Recommendation:We maintain our “Expensive” recommendation on the stock at the current price of $6.25
Financial Performance for FY 16 (Source: Company Reports)
BWP Trust
BWP Details
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Vacating up to seven existing Bunnings Warehouse properties:BWP Trust (ASX: BWP) stock fell over 6.7% on August 26, 2016 after the company has informed BWP Management Ltd about its intention to vacate up to seven existing Bunnings Warehouse properties owned by BWP. This would be after the finalization of arrangements between Home Investment Consortium Company Pty Ltd and Woolworths Limited, and also with some third party landlords, for the occupation of ex-Masters sites to replace each of the BWP impacted stores.
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Recommendation:We believe that the stock would continue to face pressure in the coming months and maintain our “Expensive” recommendation on the stock at the current price of $3.32
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