S&P/ASX 200 witnessed an upward movement of 58.5 points during today’s intraday trade and closed at 6,962.2 points, which is a new record high for the index. Many analysts believe that the optimism over a planned signing of a preliminary Sino-U. S trade could be a major reason behind today’s increase. Notably, S&P/ASX 200 Materials (Sector) index and S&P/ASX 300 Metals and Mining (Industry) index, were both up by around 1.2% today.
5-year Price Chart for S&P/ASX 200
Meanwhile, many stocks across different sectors are trading close to their 52-week highs. Let’s take a closer look at those stocks and their recent updates.
CSL Limited (ASX: CSL)
Australia’s leading global biotechnology company, CSL limited is currently trading at $296.500, close to its 52-weeks high price of $299.900. Notably, in the last one year, CSL stock has provided a return of 51.51% to its shareholders.
Considering the company’s revenues of ~$8.5 billion earned from operations in over 100 countries, 8 major manufacturing sites in 6 countries, major capacity expansion underway and deep R&D pipeline fueling future growth, it can be said that CSL limited currently maintains a very strong market position.
The company today has released its 2020 JP Morgan Healthcare Conference Presentation wherein it published its FY19 highlights which includes:
- Strong Business Performance
- Balanced Regional Growth
- Executing to Plan on New Launches
- Ig Growth well Above Market
- Expanding Market Presence through New Affiliates
- Compelling real-world effectiveness influenza vaccine data
CSL’s focus for the longer term is on the following strategic pillars:
- People and culture – The company intends to seek diverse skill sets and depth of knowledge, driven by a values-based culture;
- Growth – CSL wants to lead commercialisation know-how, geographic expansion and depth of experience in bio-tech industry
- Efficiency – efficiency has always been a hallmark of CSL and will continue to be so
- Public health – CSL will continue to differentiate its influenza vaccine offering and further protect diverse communities across the globe.
Commonwealth Bank of Australia (ASX: CBA)
One of Australia’s leading bank, Commonwealth Bank of Australia currently has a market cap of around $146.01 billion. The stock recently touched it 52 weeks high price of $83.990 and is currently resting at a price of $83.170. In the last one year alone, CBA has provided a return of 14.68% to its shareholders.
The bank today has released the details for the next interest payment which are as follows:
(Source: Company’s Report)
CBA’s September Quarter Highlights
- Unaudited statutory net profit of approximately $3.8bn in the quarter, including a $1.5bn gain on sale of CFSGAM4
- Unaudited cash net profit from continuing operations of approximately $2.3bn, up 5% ex notable items
- Operating income up 3% on a day-weighted basis due to lower basis risk, one-off items and volume growth
- Operating expenses up 2% (excluding notable items), reflecting higher staff costs and IT amortization
- Loan Impairment Expense of $299m, or 16 basis points (bpts) of average GLAA
- Improved arrears across consumer portfolios
- Troublesome and Impaired Assets slightly higher, with pockets of stress similar to those highlighted at the FY19 results
- Strong funding position maintained, with deposit funding at 69% and the Net Stable Funding ratio at 112%
- Strong CET1 ratio of 10.6% after 2019 final dividend payments (-90bpts) and organic generation of 35bpts ex one-offs
CBA is currently trading at a PE multiple of 16.990x with an annual dividend yield of 5.23% (as per ASX).
EML Payments Limited (ASX: EML)
Australia’s leading payment solutions provider EML Payments Limited (ASX: EML) recently reached to its 52-weeks high price of $5.275. Notably, in the last one year, EML stocks provided a return of 231.56% to its shareholders.
The company recently announced that it has been awarded a 5 + 2-year agreement with NSW Health to be its provider of branded General Purpose Reloadable card programs for employee Salary Packaging, further strengthening its position as the largest provider of payment solutions to the Salary Packaging industry.
The company has clarified that this agreement is an acknowledgment of EML’s leading position in the Salary Packaging industry, in the context of the PFS transaction announced in November 2019 and EML’s worldwide payments business:
- the agreement does not meet ASX Listing Rule materiality requirements for continuous disclosure
- EML does not intend to update financial guidance previously provided to the market
Considering this contract, the company expects to provide services to more than 300,000 benefit accounts by April 2022, which will take the total annual GDV for the salary packaging vertical to approximately $2.3 billion.
Growth Drivers of EML
- Gaming - Expand European and North American programs
- Salary Packaging- Transition contracted benefit accounts
- Gift and Incentive- Expand mall programs and use of instant gift
- Delegated Authority- Launch delegated authority to new verticals
- VANS- Processing plus solution gaining traction
At market close on 14 January 2020, EML stock was trading at a price of $5.230, up by 7.172% intraday, with a market cap of around $1.59 billion.
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