Thursday, July 21, 2016
Harvey Norman is a name synonymous with household furniture and electrical equipment. As well as the Harvey Norman brand, Harvey Norman Holdings also owns Domayne and Joyce Mayne. About one third of the stores are company owned with the rest operated by independent franchisees.
Friday, December 19, 2014
We’ve been working on something very special. It will be ready in early 2015.
Like a child that gets up at 4am on Christmas morning in the hope they’ll catch Santa, we simply can’t wait until next year to share this awesome new feature with you.
Check out the new way of comparing stocks side-by-side in Skaffold.
Thursday, October 16, 2014
US organisation SumZero (the worlds largest community of professional investors) recently held a competition amongst its members to find the most compelling argument for short-selling a stock.
The winning entry came from a Singapore based analyst called Sid Choraria. In his report Sid argues that the stock most likely to take a significant fall was Australian retailer Harvey Norman.
Monday, December 02, 2013
If the recent share market antics experienced by mining services company Forge Group (FGE) and salary packing specialist McMillan Shakespeare (MMS) have taught you anything, it’s A) the unprecedented windfalls that trading halts can afford astute value investors and B) the pain it can inflict on those who misread the tea leaves.
Stocks don’t enter a trading halt without good reason and when they do, it’s rarely a sign that anything good is happening. But that doesn’t mean you, as a value investor can’t capitalise on them.
For value investors who’d really been paying attention, the trading halt on MMS threw up a golden opportunity to acquire the stock cheap, and some bought it 50%-plus below its true value. Meanwhile, it left shareholders who hadn’t acknowledged Forge’s long-term declining future valuations seriously out of the money.
Friday, September 06, 2013
With reporting season now complete (except for the very small mining companies), let’s take a look at what opportunities Skaffold identified over the last four weeks, and how those stocks have performed.
The three standout stocks this reporting season, which we wrote about in blog posts and weekly reporting season update emails, are Titan Energy Services (TTN), RCR Tomilson (RCR) and MGM Wireless (MWR). TTN’s share price is up 32%, RCR 19% and MGM Wireless 37%.
As a wrap up to a successful reporting season, here’s a summary of the stocks that came to our attention over the past month. Aside from TTN, RCR and MWR, at the time of initial writing all the stocks listed below were trading at a premium to Skaffold’s intrinsic value estimate.
In order of appearance, and with previously published comments, this year’s interesting stocks were…
Wednesday, September 04, 2013
Seek Limited (SEK) has ended the 2013 financial year with more than $184 million cash in bank, improving the quality of its balance sheet and lifting its Skaffold Quality Score from B to A. Unfortunately the increase in total shareholders equity, coupled with higher debt, did not result in a material uplift in NPAT and SEK’s return on equity fell from close to 40% in 2012 to 24%, as at 30 June 2013. SEK is now rated A2 by Skaffold.
Companies to report improving business performance over the last six months include vitamin developer Blackmores (BKL), wealth management business SFG Australia (SFW), software developers Objective Corporation (OCL) and Prophecy International Holdings (PRO).
Tuesday, August 20, 2013
It’s no secret that the retail sector has been struggling of late. You’ve probably heard talk of lower consumer spending, the threat of online sales and competition and a high Australian Dollar narrowing margins.
With all this doom and gloom in the retail sector, and all the talk of falling profits and changing consumer behaviour, how then do you explain the recent positive results from JB Hi Fi?
Friday, July 12, 2013
August reporting season is the busiest time of year for stock market investors. More than 60% of ASX-listed companies will release their full year results in August, with the smaller mining stocks reporting by 13 September 2013.
Skaffold’s reporting season calendar is now live and will be updated daily over the next few months. The calendar lists the most popular ASX-listed companies and their expected report date. Click here to view the calendar now.
Tuesday, July 02, 2013
The Australian dollar dipped below US92¢ on June 24 – its lowest point since September 2010 – and mounting projections that it could fall to around US85¢ within two years heralds mixed blessings for stocks on either side of the currency divide.
So if you subscribe to the view that a falling Australian dollar is (among other things) the inevitable by-product of waning foreign investor appetite for $A assets, you also need to ask what this means for the stocks you currently own, and how you can profit from it.
The correlation between the Australian dollar and share price movements – and interest rates, for that matter – has declined somewhat in recent years. Nevertheless, when it comes to identifying the most likely winners and losers within a falling Australian dollar environment, there are some useful guiding principles that you as an investor should understand.
Wednesday, March 06, 2013
It’s the last week of reporting season, and the upsets keep emerging. Regional airline Regional Express (REX) has held Skaffold’s second highest A2 Score for 5 of the past 10 years. REX has fallen to A3. So has Seymour Whyte. Other companies to update in Skaffold include Silver Lake Resources (SLR), Saracen Mineral Holdings (SAR), AV Jennings (AVJ), Corporate Travel Management (CTD), Global Construction Services (GCS), Harvey Norman (HVN), Challenger (CGF) and Perpetual (PPT).