Nikko AM Australia’s fixed income team has analysed whether it is possible for the banks to maintain their AA- ratings without the uplift from a AAA sovereign rating. We explore how the Australian banks receive their AA- ratings, whether they could maintain those ratings despite a sovereign downgrade and the... Show More
On Thursday, live animal exporter Wellard (ASX: WLD) issued an update in connection with its second profit warning in six months, which was announced last week. The company said it now expects its forecast pro forma full yearly net profit after tax to be around the bottom of the $23.5... Show More
Late Wednesday night global glove and condom manufacturer Ansell (ASX: ANN) downgraded its earnings forecast following weak first half sales. The company cut its 2015-16 earnings per share (EPS) expectations to between US$0.95 to US$1.10, down from previous guidance of US$1.05 to US$1.20. The company said lower than anticipated January... Show More
Shares in electronics retailer Dick Smith (ASX: DSH) plummeted this week after the company announced on Monday a second downgrade following an earnings warning in October. Poor trading conditions meant management was unable to re-affirm its previous profit guidance while a review of inventories saw the company take a $60... Show More
Is it time to buy QBE? Not at current prices, in our view, but below $10 the stock would be interesting. The serial disappointer last week downgraded its earnings guidance for the fourth time in the last two years but our valuation was conservative, we don't need to downgrade and... Show More
At least three brokers have downgraded Boart Longyear (BLY) following its earnings downgrade and renegotiation of debt covenants. BoA Merrill Lynch has downgraded BLY to Underperform, reducing the price target from 95c to 45c on the back of continued earnings pressure and deteriorating end markets (current price:$0.63). CIMB has downgraded... Show More