Reporting Season Update: February 2020
About the author:
- Author name:
- By Andrew Tang
- Job title:
- Analyst - Equity Strategy
- Date posted:
- 24 February 2020, 12:00 PM
- Sectors Covered:
- Equity Strategy and Quant
Sentiment remains upbeat heading into the home stretch. Core large-cap results (Commonwealth Bank, CSL Limited, Transurban, Telstra, Macquarie Group) reported solid inline results despite a higher overall miss rate for the ASX 50.
The positive move in the market suggests earnings misses were largely expected due to the impact of drought and bushfires and tepid recovery in housing and infrastructure.
The market has so far shown no nagging symptoms from COVID-19 but with 65 stocks under coverage left to report and result quality typically deteriorating towards the end of the month, expect to see more share price volatility:
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Morgans clients can access further analysis on companies that have reported results during this reporting season via the latest research section, or watch our latest video updates. Alternatively, please contact your Morgans adviser or nearest Morgans office for access.
Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.
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