A director at JB Hi-Fi Limited maiden bought 400 shares at 81.680AUD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...
JB HI-FI (AU), a company active in the Consumer Electronics industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date December 14, 2021, the closing price was AUD 47.07...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Breakouts Proliferate; Japan, Cyclicals In Focus Last week we pointed out that the MSCI ACWI and several major country indexes were breaking above key resistance levels and that investors were rotating into economically sensitive Sectors (e.g., Discretionary, Materials, Manufacturing/Industrials). This led us to believe the case for a confirmed breakout was building. Upside follow-through this week across a number of countries tells us the bulls are in control. · Major Global Indexes....
Global equities rallied by 3.0% after the US and China announced they were close to formalising a trade deal. Emerging markets rallied strongly, with the global EM index up by 7.5% supported by strong gains in Argentina (21%), China B (8.4%), Russia (7.7%), Brazil (6.8%) and China A (6.2%). Consumer Staples (-8.1%), Communication Services (-7.8%), Property (-4.8%) led the declines, while Materials (1.5%) and Utilities (0.8%) were the only sectors to gain ground. The biggest hurdle for invest...
The ASX 200 fell by 0.4% and underperformed global markets after several strong months of outperformance and earnings downgrades. In net terms the market was upgraded, although this was mainly because there were less downgrades than normal and not because analysts were becoming more positive on the earnings outlook. IT (-3.9%), Financials (-2.8%), Consumer Staples (-2.2%) and Materials all underperformed. Australia remains expensive with the earnings bar now lowered to a level more achieva...
Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these theme...
No-moat JB Hi-Fi’s shares screen as overvalued at current prices after rising about 30% since the start of 2019. The market appears enamoured with the company’s market-leading position and competitive operating cost structure. However, investors aren’t getting a margin of safety to account for longer-term structural risks. We maintain our AUD 24.50 fair value estimate. Like all traditional retailers, JB Hi-Fi continues to transform into an omnichannel, which brings into question the estab...
No-moat JB Hi-Fi’s shares screen as overvalued at current prices after rising about 30% since the start of 2019. The market appears enamoured with the company’s market-leading position and competitive operating cost structure. However, investors aren’t getting a margin of safety to account for longer-term structural risks. We maintain our AUD 24.50 fair value estimate. Like all traditional retailers, JB Hi-Fi continues to transform into an omnichannel, which brings into question the establ...
No-moat JB Hi-Fi’s shares screen as overvalued at current prices after rising about 30% since the start of 2019. The market appears enamoured with the company’s market-leading position and competitive operating cost structure. However, investors aren’t getting a margin of safety to account for longer-term structural risks. We maintain our AUD 24.50 fair value estimate. Like all traditional retailers, JB Hi-Fi continues to transform into an omnichannel, which brings into question the estab...
JB Hi-Fi operates more than 300 electrical and white-goods stores across Australia and New Zealand under The Good Guys and JB Hi-Fi brands. Despite the absence of an economic moat, the business has proven to be very resilient, trading strongly throughout the financial crisis as the younger target demographic continued to spend on entertainment. The industry is constantly developing new gadgets and products, which drive organic growth. Investment risk is high because uncertainty surrounds the pac...
No-moat JB Hi-Fi’s shares screen as overvalued at current prices after rising about 30% since the start of 2019. The market appears enamoured with the company’s market-leading position and competitive operating cost structure. However, investors aren’t getting a margin of safety to account for longer-term structural risks. We maintain our AUD 24.50 fair value estimate. Like all traditional retailers, JB Hi-Fi continues to transform into an omnichannel, which brings into question the establ...
No-moat-rated JB Hi-Fi successfully navigated a tough retail environment in the first half of fiscal 2019, but we see cyclical headwinds persisting for the remainder of the fiscal year. We expect investor spending to be dampened by relatively sluggish wage growth, a weakening housing market, and uncertainty around the upcoming Australian federal elections in May 2019. Long term, we continue to expect JB Hi-Fi to defend its market share against new online competitors, with smaller competing store...
No-moat-rated JB Hi-Fi successfully navigated a tough retail environment in the first half of fiscal 2019, but we see cyclical headwinds persisting for the remainder of the fiscal year. We expect investor spending to be dampened by relatively sluggish wage growth, a weakening housing market, and uncertainty around the upcoming Australian federal elections in May 2019. Long term, we continue to expect JB Hi-Fi to defend its market share against new online competitors, with smaller competing store...
JB Hi-Fi operates more than 300 electrical and white-goods stores across Australia and New Zealand under The Good Guys and JB Hi-Fi brands. Despite the absence of an economic moat, the business has proven to be very resilient, trading strongly throughout the financial crisis as the younger target demographic continued to spend on entertainment. The industry is constantly developing new gadgets and products, which drive organic growth. Investment risk is high because uncertainty surrounds the pac...
Australian retailers saw very little from Amazon Australia, or Amazon AU, in fiscal 2018, but we think this is bound to gradually change. We expect Amazon AU's revenue will grow from next to nothing to AUD 24 billion in fiscal 2028, representing 5% of total retail spending. Amazon AU's strategy is striving to be the online retailer of choice. We expect it to win the hearts and minds of Australians, but not by recklessly dropping prices. Instead, we see the online giant offering industry-leading ...
Australian retailers saw very little from Amazon Australia, or Amazon AU, in fiscal 2018, but we think this is bound to gradually change. We expect Amazon AU's revenue will grow from next to nothing to AUD 24 billion in fiscal 2028, representing 5% of total retail spending. Amazon AU's strategy is striving to be the online retailer of choice. We expect it to win the hearts and minds of Australians, but not by recklessly dropping prices. Instead, we see the online giant offering industry-leading ...
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