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Highlights:
- The benchmark Australian ASX 200 index closed lower on 22 August 2022.
- Yesterday, all the eleven significant sectors on ASX closed in the red zone.
- Today, ASX 200 opened in red, dropped by 30.80 points to 7,016.10 points.
Australian stock market closed in red zone on Monday (22 August 2022) after setting a 50-day high. ASX 200 closed 0.95% down at 7,046.90 points.
On Tuesday (23 August 2022), the benchmark S&P/ASX 200 is lower, dropping 30.80 points or 0.44% to 7,016.10 at 10:36 AM AEST. All Ordinaries index is 0.45% lower while the A-VIX is 5.03% up on Tuesday.
Sectors opened mixed. 8 out of eleven sectors on ASX were in the red zone. Information Technology was the best performing sector, up 0.90% at 10:38 AM AEST.
Consumer Discretionary sector was 0.64% lower, Consumer Staples was 1.05% down, A-REIT was 0.70% lower.
The Australian share market is on the move as reporting season is on. It has become difficult to keep track of all the ASX-listed companies and their earnings. In this article, some of the top 50 ASX stocks - James Hardie, Mirvac Group, Computershare Limited and Goodman Group are discussed along with their yearly performance.
Goodman Group (ASX:GMG)
Global industrial property group, Goodman owns, manages and develops sustainable properties that are close to consumers. The company is also engaged in offering essential infrastructure for the digital economy. The property management group generally deals with the logistics, automotive, retail and e-retail sectors.
Goodman operates in 14 countries across America, Europe and the Asia Pacific. As per the company’s website, it is the largest property group listed on ASX.
The Group shared its financial year 2022 (FY22) results on 16 August 2022. Although the company delivered positive results, the share price dropped from AU$20.65 per share (on 15 August 2022) to AU$20.55 per share (16 August).
The operating profit increased by 25% on FY21 to AU$1,528 million. Operating EPS surged by 24% to 81.3 cents. Gearing surged by 6.8% to 8.5%. Net tangible assets grew by 25% to AU$8.37 per security. Total asset under management increased by 26% to AU$73 billion. Development work in progress surged by 28% to AU$13.6 billion with a yield on cost of 6.6% across 85 projects.
The company marked a solid entry in FY23 with AU$2.8 billion of liquidity and AU$18.1 billion across the partnership.
While sharing the FY22 results, the company did not make any dividend announcement. However, in June, the company announced a fully unfranked dividend of AU$0.150 per share, payable on 25 August 2022.
At 10:27 AM AEST, shares of Goodman Group were trading 1.386 down at AU$19.920 per share on the ASX.
James Hardie Industries Plc (ASX:JHX)
James Hardie is a Fibre cement building materials manufacturer. The company offers innovative, low maintenance and durable products which are made of sustainable and natural raw materials. The primary geographic markets of the company are the Philippines, New Zealand, Australia, Europe and North America.
The financial year of James Hardie ends on 31 March every year. Therefore, the company shared its full-year results in May 2022.
Image source: © Allisgood76 | Megapixl.com
Recently, the company released its first quarter results for the financial year 2023, the period ending 30 June 2022. During the quarter, the net sales from North America fiber cement segment surged by 28% to US$740.1 million, with a 13% increase in the EBIT. Asia Pacific segment delivered a 9% increase in net sales, and the Europe building products segment reported an increase of 7%.
Global net sales grew by 19%, and adjusted EBIT surged by 15%, with a 20.8% rise in the adjusted EBIT margin.
James Hardie’s management informed the shareholders that the housing market in Europe, North America and the Asia Pacific is not only affected by the macro-environment but also creating immense pressure on the financial results of FY23. In line with this, the company has narrowed its adjusted net income guidance for FY23 to US$730 million to US$780 million. The previous guidance range was US$740 million to US$820 million.
Today, James Hardie’s shares were trading 2.178% lower from its previous close at AU$35.020 per share at 10:30 AM AEST.
Mirvac Group (ASX:MGR)
Founded in 1972, Mirvac is a real estate development and investment management group. The company deals with office & industrial, retail and residential properties. Also, the company builds renting properties.
On 11 August 2022, ASX-listed real estate company reported a statutory profit of AU$906 million and AU$596 million of operating profit after tax. During the year, the operating EBIT increased by 10% to US$773 million. The full-year distribution increased by 3% over the previous year.
The operating cash flow surged by 41% to AU$896 million. The company ended the year with a liquidity of AU$1.4 billion.
The key highlight of the FY22 results of Mirvac was that the company achieved the scope 1 and 2 emissions target, nine years ahead of the company’s target.
Mirvac had announced a dividend of AU$0.051 per share with a tentative payment date of 31 August 2022.
At 10:40 AM AEST, the shares of Mirvac were spotted trading 0.938% at AU$2.110 apiece.
Computershare Limited (ASX:CPU)
ASX-listed software and services company Computershare offers specialised computer bureau services. This dividend-paying stock released its FY22 results on 9 August 2022, resulting in a surge in share price on that day. On 8 August, the share price was AU$25.21 per share, and on the date of the release of the financial results, the share price surged to AU$25.44 per share.
The company delivered management revenue of AU$2.6 billion, up by 12.2% from the previous year. The management EBIT increased by 19% to AU$530.9 million. During the year, the margin income grew by 74.3% to AU$186.5 million.
Image source: © Ginasanders | Megapixl.com
The board of Computershare announced a dividend of 30 cents per share, 30% higher than the last year’s final dividend. The tentative payment date of the dividend is 12 September 2022.
For FY23, the company expects its management EPS to grow by approximately 55%. The company has shared this guidance on the assumption that the margin income revenue during the year will be about AU$520 million, and the group tax rate will be in the range of 26 to 28%.
Today, the shares of Computershare were spotted trading 0.772% higher at AU$24.780 per share at 10:40 AM AEST.
