After taking a US$ 1.1 billion write-down on its GLNG project in Queensland, Santos posted a full-year loss of US$ 1.05 billion. No interim dividend was paid.
The oil and gas producer claims their free cash flow is at a Crude Oil price of US$36.50 per barrel, which is considerably lower than current levels.
The share price is essentially unchanged on the day. Longer-term investors can look for buy interest to return near the November lows at $3.50.
ASX Limited reported continued profit growth for H1 2017, up 3% to $219 million. Earnings per share was posted at $1.13 per share, which is 2.9% higher than a year ago.
The exchange operator declared a fully franked dividend of $1.02 per share, which pencils out to a 90% pay out ratio.
ASX also announced a 2.8% increase in operating revenue to $386.6 million, which is a 10.4 million increase from the previous reporting period.
Solid growth in Derivatives, OTC products and the sharp increase in ETF interest has underpinned the company’s forward guidance.
However, we see a potential “double top” pattern on the daily charts dating back to the August highs of $52.40 and would look for a pull back in the share price.
Medibank Private announced its net profit rose 1.9% in the half-year ending December 31st. The profit of $231.9 million compared to the $227.6 million earned in the year-ago period.
Directors reported an interim dividend of 5.25 cents per share out of earnings per share of 8.4 cents.
However, Medibank shares are down over 3.5% today as the company announced operating profits fell 6.4% to $250 million.
Higher claims by members and amortization on a new information technology system pushed health insurance operating profits down 8.2% to $249.4 million.
Initial chart support for the stock will be found in the $2.60 area, which will place MPL on a 4% forward yield. We own the stock in client portfolio’s and we’ve sold covered calls to enhance the yield.
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Shares of Origin Energy continue to slide after announcing yesterday that the company will take a $1.031 billion impairment charge on the APLNG gas export project in Queensland. This was the largest part of a broader $1.9 billion post-tax write-down.
Origin raised the bottom end of its forecast range for annual EBITDA by 3% to $2.45 billion, but kept the top end of the forecast at $2.62 billion.
Origin shares are down over 2% so far today at $7.10. We see initial support coming in at or near the $6.88 level.
Our Algo Engine created a buy signal in September 2016 at $5.00
Stronger retail revenues helped Sydney Airports lift its 2017 guidance as 2016 annual profits were reported up 13.2% to $320.9 million.
The company announced that it will pay a full-year dividend of 31 cents per share for 2016 as total revenue climbed 11% in the year ended December 31st.
Total 2016 revenue was announced at $1.365 billion from $1.229 billion during the year ago period.
Forward guidance was higher, but slightly negative as the company forecast a 2017 dividend of 33.5 cents per share versus the street’s expectation of 34 cents per share. EBITDA rose 8.2% to $1.08 billion, and operating margins are running at 8.2%.
Total passenger numbers increased 5.6% to 41.9 million , with international passenger numbers rising 8.8% to 14.9 million.
Technically, the share price should find support at the $6.00 area, which is also the 30-day moving average.
Our Algo Engine created a short signal in December at $6.70.
Telstra shares are down over 4% in early trade as Australia’s largest telecommunication company announce half-yearly profits down 14.2% and revenue 3.6% lower.
The company reported half-yearly profits of $1.79 billion compared to $2.09 billion this time last year. Revenue fell to $12.8 billion from $13.3 billion over the same period of time.
Their EBITDA of $5.18 billion was at the low end of earlier guidance, which is a sign that Telstra is undergoing a difficult transition to the post-NBN world.
The company announced an interim dividend of 15.5 cents per share, fully franked, which returns $1.8 billion to shareholders.
Our Algo Engine created a short signal in January at $5.27
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