Reporting Season 2019 - What To Expect
CMC Markets | Feb 08, 2019 15:38
Originally published by CMC Markets
Get the latest updates on the major stocks in ASX, reporting in 2019. Companies will be publishing their earning reports for the year which will help traders and investors gauge their take away in terms of share prices.
h2 8-2-2019/h2The dual US /Australian listed News Corporation unveiled a whopping 21% increase in revenue, swinging back into profitability for the quarter. The improvements came across its publishing, cable and streaming services, and the partially owned digital real estate subsidiary REA was a significant contributor, although REA's (AX:REA) headline result was dragged down by write-offs associated with their Asian businesses
The S&P/ASX 200 index is sitting just above the technically important 6,000 level, and any gains today may see underweight investors forced back into the market.
Announcements this morning showed IDP Education and property group Mirvac beat consensus forecasts in the first half of the financial year. Engineers Downer EDI unveiled a return to profitability and lifted guidance on full year earnings. However power utility AGL saw a modest decline in revenues exacerbated by significant hedging losses. It’s a coin toss.
The Commonwealth Bank of Australia reported a modest 1.7% lift in operating profit, although overall profit fell 2.1% on higher impairment charges. The result is below consensus forecasts and may see Commonwealth Bank Of Australia (AX:CBA) shares give back some of yesterday’s extraordinary gains. Other results this morning are more impressive, and IAG, Bunnings Trust and Dexus Property delivered pleasant surprises to shareholders.
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It’s a full day for Australian investors. Financial stocks comprise 31.55% of the Australia 200 index, and the sweeping change coming to the sector will keep analysts busy for weeks to come. There is an emerging view that the big four banks may rally from this point given the actions taken already and more certainty about the future. This is a view yet to be tested, although index futures lifted in an immediate response to the report delivered after the cash market close yesterday.
It’s the first day of the corporate reporting season with James Hardie, Cimic and Scentre Group fronting shareholders. Throw in an overnight surge in aluminium, nickel, iron ore and steel and predicting the outcome of today’s session is a tough call.
Below are the expected results:
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