Super Retail Group Ltd
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SUL Details
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Favorable performance and outlook: Super Retail Group Ltd (ASX: SUL) surged over 7.4% on May 05, 2016 as the group delivered solid performance across its three divisions for eighteen weeks to April 2016. Auto Retailing, Leisure Retailing and Sports Retailing Divisions sales surged 5%, 7% and 6% respectively during eighteen weeks to April 2016. Management issued a continued growth across three Divisions and continued to expand their network of stores, digital businesses and achieve profitability via sourcing, ranging and supply chain initiative. Moreover, SUL transformation efforts would generate over $13 million for the Group’s EBIT.
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Recommendation: We recommend a “Hold” on this dividend yield stock at the current price of $8.99
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Performance across divisions (Source: Company Reports)
Cover-More Group Ltd
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CVO Details
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Strong US market penetration: Cover-More Group Ltd (ASX: CVO) recovered over 18% on May 05, 2016 due to the group’s update that their Australian travel insurance gross sales growth (for Jan-Apr 2016) are on track with first half of FY16. The company reported for a 4.8% rise in group gross sales with regard to its Q3 update. CVO reported that they are making an outstanding growth in Indian and Chinese markets. Distribution also started in US with initial contract forecasted to generate over A$30 million in gross sales. CVO even updated investors that they are making a decent progress at negotiations with GLA on underwriting arrangement.
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Recommendation: We maintain our “Buy” recommendation on the stock at the current price of $1.445
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CVO Timeline (Source: Company Reports)
McMillan Shakespeare Limited
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MMS Details
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Attractive valuations: McMillan Shakespeare Limited (ASX: MMS) stock surged over 8.01% on May 05, 2016 on update of the letter from Federal Leader of the Opposition to the National Automotive Leasing & Salary Packaging Association (NALSPA). The NALSPA confirmed that Shorten Labor government would not implement any changes to the Statutory Formula Method relating to employer provided motor vehicles. Labor would also retain the current arrangements related to all measures regarding salary packaging and related Fringe Benefit Tax measures. The letter also indicated that there is no difference between its policy and the present Turnbull government.
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Recommendation: We recommend a “Hold” on the stock at the current price of $13.62
Crown Resorts Ltd
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CWN Details
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Decreased share in Melco Crown: Crown Resorts Ltd (ASX: CWN) surged over 4.9% on May 05, 2016 on the news that the group decreased its shareholding in Melco Crown Entertainment. The group’s subsidiary has entered into an agreement for the repurchase of 155 million ordinary MCE shares which would deliver an amount of US$800 million. As a result, the group’s share would reduce from 34.3% to 27.4%.
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Recommendation: We give a “Hold” recommendation on this dividend yield stock at the current price of $12.40
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