Aurizon Holdings: Fine tuning in advance of FY20 results

By Nathan Lead

14 July 2020, 9:44 AM

Aurizon Holdings (ASX:AZJ) will report its FY20 result on 10 August. As a result of Q4 volume weakness, we expect EBIT to be at the bottom end of the $880-930m guidance range. The forecast dividend yield of 5.9% (~70% franked, 100% earnings payout) continues to be appealing, as does the relative revenue resilience, investment grade balance sheet, and potential for further buybacks.

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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.

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