All posts by Tom Sartor

Tom Sartor

ALS: Firmly on the recovery trajectory

By Tom Sartor

19 November 2020, 3:45 PM

1H21 underlying financials met the market’s expectations helped by thorough disclosure through COVID. All indications suggest 1Q21 will mark the low-point in activity, with resilient margins and much stronger 2Q sample flows seen continuing into 2H21. We forecast earnings to recover back to pre-COVID levels during 1H22, contingent on avoiding further hard lockdowns in key geographies. Our blended valuation is based on our FY22 forecasts and adjus...

Read more...

Reporting season scorecards and observations

By Tom Sartor

24 August 2020, 11:55 AM

August has been a story of cyclical and consumer-facing stocks in particular in terms of 1) surprising overly fearful expectations, and/or; 2) being well supported by the market even if they didn’t. Whether this can continue when fiscal support scales down will be a key question as we exit August.

Read more...

ASL Ltd: Tracking ahead of expectations

By Tom Sartor

30 July 2020, 10:30 AM

The lack of 1H21 guidance at the AGM was a surprise, however the 1Q trading update does imply ASL (ASX:ALQ) is tracking comfortably ahead of expectations. Our blended valuation is based on FY22 forecasts and adjusts.

Read more...

Asset Allocation: September quarter re-balance

By Tom Sartor

13 July 2020, 9:20 AM

The stunning rebound in the US equity market in the March quarter looks to have run ahead of fundamentals, particularly as the pandemic leaves complex economic questions in its wake. As such we remain on the look out to allocate more active weight toward beneficiaries of a cyclical recovery, but that looks far too early to call with the information at hand.

Read more...

Pre-reporting season catalysts

By Tom Sartor

29 June 2020, 1:35 PM

With COVID-19 wreaking havoc on the ability to forecast corporate earnings in the current half year, we're seeing a much larger than usual number of companies seeking to keep the market informed via trading updates, guidance updates and/or unaudited results well ahead of their full financial results due in August.

Read more...

Potential beneficiaries of housing stimulus

By Tom Sartor

02 June 2020, 12:40 PM

Stimulating construction and manufacturing would generate the largest positive spillover for the broader economy in the post-COVID recovery according to the ANU. Announcement of Federal stimulus in the form of new homeowner grants are widely expected this week.

Read more...
Results 1-10 of 63
  • Print this page
  • Copy Link