The pros and cons of offshore earners

Livewire Exclusive

Offshore earning companies offer leverage to larger markets with the potential kicker in the form of a currency tailwind. The AUD has fallen from above 80 cents in January to current levels ~74 cents, with forecasters tipping further declines. In this thematic discussion Matthew Kidman asks Tony Waters from QVG... Show More


5 key considerations for FY19

Hugh Dive

At the start of every year, most fund managers will sit down and try to identify the key considerations or issues that their portfolio will likely face over the coming twelve months. Below are what Atlas see as the five key considerations for equity investors for the 2019 financial year. Show More


Buy Hold Sell: 4 big industrials

Buy Hold Sell

The East Coast infrastructure boom is in full flow, with a big pipeline of projects scheduled for the coming years. This is having a flow on effect, and other areas of the market are benefiting directly and indirectly from the theme. The question now is whether it is all priced... Show More


The case for small caps in today’s market

Ben Griffiths

Among the enduring memories of my time as an analyst at Mercantile Mutual Investment Management in the early 1990’s was the importance the equities team placed on active positioning in small company stocks. The firm built an enviable reputation in the space and were richly rewarded through strong fund performance... Show More


On track for a solid first-half reporting season

Andrew Tang

The first half reporting season kicks off later this week, and according to the latest Thomson Reuters earnings estimates, EPS for the S&P/ASX200 is forecast to grow by 7.0% in FY18, down from the 11.3% in FY17. Show More


Bell Potter Analyst Outlook & Top Stock Picks for 2018

Bell Potter

In this report, our analysts share their sector view and top stock picks for 2018 across sectors including banks and general insurers, diversified financials, LICs, fixed income, agricultural FMCG, technology, discretionary retail, industrials, resources, and healthcare & biotech. Show More

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Industrials Outlook for 2018 - Tim Piper

Bell Potter

RWC manufactures rough plumbing products and is the market leader in ‘push-to-connect’ fittings. We see further market share gains in the US within the existing Repair & Renovation end market, while the launch of a new range of products (EvoPEX) will open an additional end market in new residential construction.... Show More


When short-sellers get it wrong

Livewire Exclusive

Short-covering rallies can be quite spectacular when the short-sellers finally concede defeat. To find out which stocks the short sellers may have got wrong, we put the question to Greencape Capital, NAOS, and Market Matters. Their answers include one of most shorted stocks on the ASX. Show More

the buy side brief ASX:FLT ASX:WSA ASX:RWC

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Can we rely on Reliance?

Robert Frost

Following share price weakness ahead of its full-year result, we added Reliance Worldwide Corporation to our portfolio. Reliance is a global plumbing supplies business specialising in reliable and premium branded water flow and control products including the market-leading 'SharkBite' push-to-connect fittings. Show More

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Wilson Asset Management weekly: Noni B and Reliance

Chris Stott

Overall the reporting season, which concluded on Thursday, was mixed, with a number of companies falling short of market expectations. Companies trading on high price-to-earnings ratios struggled, notably Domino’s Pizza (ASX: DMP) and Corporate Travel Management (ASX: CTD). The defensive sectors had one of their worst reporting periods in a... Show More


Morgans reporting season candidates for surprise or disappointment

Andrew Tang

FY17 reporting season kicks off in earnest mid-August and according to the latest IBES consensus earnings estimates, EPS growth for the S&P/ASX200 is forecast at 13% in FY17, slightly down from 13.6% at the end of 1H17. Pleasingly this would still mark the end of the earnings recession after two... Show More

US construction has a spring in its step

Nikko Asset Management Australia

The outlook for US construction looks positive, with housing continuing to move back towards mid-cycle levels, and commercial activity potentially increasing as business sentiment improves. There also appears to be a greater degree of certainty around infrastructure investment than there has been for some time. With finance headwinds having long... Show More

Reliance turns on the profit tap

Wilson Asset Management

On Monday water control solutions and plumbing manufacturer Reliance Worldwide Corporation (ASX: RWC) announced its maiden results since listing in April this year. The company reported net sales of $534.4 million, up 18% on FY15. Shares in Reliance closed down 7.4% for the week. We like Reliance as its current... Show More


One IPO that caught our attention

Eley Griffiths Group

We participated in the $918m IPO of Reliance World Corporation (RWC) at 21x FY17 PE. RWC designs and manufactures ‘behind-the-wall’ plumbing fixtures in Australia, US, Canada and increasingly in Europe. The business has its origins in Australia where it predominantly served the wholesale/OEM channel (e.g. Reece, Tradelink). RWC enjoyed a... Show More


What the experts have been buying & selling

Livewire Exclusive

A lot has changed in markets this year; commodity prices have rallied, the big banks’ share prices have all fallen > 10%, Britain has voted to leave the EU, the Chinese Yuan has fallen in value, and political uncertainty has increased around the developed world. Changes in market conditions usually... Show More

Plenty of opportunities for Reliance

Wilson Asset Management

With 77% of sales outside Australia, Melbourne-founded Reliance Worldwide (ASX:RWC) is a leader in design and manufacture of water flow and control products for “behind the wall” plumbing. One of its key products is “Sharkbite”, which utilises ‘Push To Connect’ brass fittings to provide more efficient plumbing solutions for plumbers... Show More

the buy side brief ASX:RWC

A leader in the plumbing field

Morgans Financial Limited

Reliance Worldwide (RWC) designs, manufactures and supplies premium branded water flow and control products for the plumbing industry. RWC has established operations in the US, Australia, UK, Canada and New Zealand, and is building a presence in Europe. RWC's products are used in residential (houses and apartments) and commercial applications... Show More