Weaker Aluminium Prices to Have an Impact on CSR's Earnings; Maintain AUD 3.10 FVE
CSR is to release its interim 2017 results on Nov. 2. For fiscal 2017, we forecast a 5% fall in NPAT to AUD 158 million (AUD 0.31 EPS, down 5%) and DPS of AUD 0.24, flat on the previous corresponding period. Recent housing approvals data support our forecast of a 5% uplift in earnings for building products in fiscal 2017, with Morningstar forecasting housing completions of 195,179 (+4.7%). Housing approvals for the 12 months to August rose 4.4%, comprising a 12.4% increase for apartment approval...CSR is engaged in the manufacture and supply of building products in Australia and New Zealand. Co. operates in four segments, Building Products, Glass, Aluminium and Property. The Building Products segment consists of Lightweight Systems, Insulation, AFS walling systems, Bricks, and Roofing. The Glass segment includes the operations of Viridian, an architectural glass provider and manufacturer of float glass and hardcoated performance products. Products from the aluminium business include aluminium ingot, billet and slab.. The Property segment sells former operating sites.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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