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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