Stock Pick

Category: Stock Market

  • Alliance Airlines reports 24% increase in profits

    airplane rocket

    Alliance Aviation Services Ltd (ASX: AQZ) reported a 24.1% jump in profit before tax after the close of trading on Wednesday. The company’s diverse business model enabled it to pivot in mid-stride during the coronavirus pandemic quicker than any other airline. Consequently, it was able to continue flying throughout the pandemic.

    The company’s FY20 top line revenue was $298.6 million, versus $277.1 million in FY19. In addition, flying hours were only 1% lower. As a brief financial summary, the company flew basically the same hours for an additional 7% of revenue, and saw profit before tax increase by 24.1%. This underlines very disciplined cost management throughout the period in addition to higher paying flights.

    The company also ended the year with 4 additional aircraft, and reduced debt by $6 million.

    Alliance Airlines high points

    Contract sales made up 68% of company revenue. Specifically, they contributed $202.5 million for the year, which is an increase of 22.5% compared to FY19. This was the result of two factors. First, the continuation of resource sector companies as part of the nation’s essential services. Second, the social distancing requirements. This resulted in more flights required for existing customers to traffic workers to and from remote sites safely.

    Wet leases were down by 46.3%. This is when the company’s planes fly under another company’s brand. This is due to the suspension of the group’s wet lease agreement with Virgin Australia Holdings Limited (ASX: VAH) in March 2020.

    Another standout performer for Alliance Airlines was chartered flights. This increased by 97% over the year. The group performed charter services for a number of new resource sector clients, sporting teams and various emergency services from the lockdown period to the end of the financial year.

    Its stoic performance throughout the coronavirus pandemic has resulted in additional work. For example, the company was awarded flights to the Whitsundays by the Queensland Government. In addition, it announced a new 10-year airline services contract with South32 Ltd (ASX: S32) for the Cannington and Groote Eylandt (GEMCO) mine sites on 1 May.

    Company outlook

    Alliance Airlines carried out a placement to institutional investors for an amount of $91.9 million. In addition, it raised a further $3.9 million via a share purchase plan for retail investors. These funds are to increase the fleet size to take advantage of opportunities in the market.

    On the 3 August 2020, the group announced it had entered an agreement with Azorra Aviation of the United States. Specifically, this was for the purchase of 14 Embraer E190 aircraft. Moreover, the package included related inventory, ground support equipment, tooling and training devices.

    The company has a number of new routes already planned in regular public transport (RPT) for these aircraft. Furthermore, it expects several of its charter flights to mature into long term charter contracts. Lastly, most requirements for social distancing has now ceased, however contracted schedules continue to be higher than pre-COVID-19 levels.

    Nevertheless, the airline is not without competitors. Today’s announcement by Virgin Australia that it was going to kill off its Tigerair brand reduces low cost flight competition. However, it still finds itself competing head first with the Qantas Airways Limited (ASX: QAN) regional carrier Qantaslink, as well as Regional Express Holdings Ltd (ASX: REX).

    Foolish Takeaway

    The performance of Alliance Airlines during the pandemic has vindicated the company’s diverse business model. Moreover, based on its performance, it has won extra contracts. I believe the company’s financial results are sustainable, and will continue to improve into the future. This is due to the planned expansion building on existing successes, thereby reducing the risk of failure.

    As a result of its planned expansion, there will be no final dividend for FY20. The company is currently trading at a price-to-earnings (P/E) ratio of 19.4 and has a market valuation of $571.59 million.

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    Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • A Taiwan Tech Company Bigger Than Foxconn (Not TSMC)

    A Taiwan Tech Company Bigger Than Foxconn (Not TSMC)(Bloomberg Opinion) — When the U.S. administration moved in May to block Huawei Technologies Co. from accessing American technology to manufacture its chips, shares of Taiwan Semiconductor Manufacturing Co. dropped.Huawei, the Chinese phone and telecoms equipment giant, was one of the custom chipmaker’s biggest clients and losing those orders was thought to pose a huge threat to revenue. Yet that same day, shares of another Taiwanese company jumped as much as their daily 10% limit, the most in almost five years.MediaTek Inc., a designer of chips used in electronics including smartphones, has since climbed another 78% in Taiwan and by late July overtook the market value of Hon Hai Precision Industry Co., the Taipei-based flagship of iPhone maker Foxconn Technology Group. At the close of trade Wednesday, MediaTek was Taiwan’s second-biggest company, worth NT$1.2 trillion ($40 billion). The new rule from the Trump administration stated that chip manufacturers such as TSMC cannot use American know-how to make semiconductors for Huawei, accusing the Chinese company of undertaking “malign activities contrary to U.S. national security and foreign policy interests.” Since U.S. equipment, software and materials are an irreplaceable part of chip manufacturing, the edict meant that Huawei can no longer use its own chips in its devices.But Huawei’s smartphones, routers, switches and other hardware can use chips designed by outside parties, even if they’re manufactured with American technology. Enter MediaTek.It designs 5G chips for both smartphones and base stations, and has them manufactured by TSMC, making it the perfect replacement for the Huawei-designed chips that can no longer be made.Already a supplier to the Chinese company, MediaTek’s orders from Huawei are reported to have jumped after the restrictions, spurring analysts to raise their outlook for 2020 revenue by 14% and for next year by 29%.This wasn’t some fluke, though, or merely being in the right place at the right time. Founded by M.K. Tsai, a U.S.-educated electrical engineer and  early leader of Taiwan’s chip industry, MediaTek has made a career out of being the backup quarterback in the world’s most ubiquitous devices.Once a division of United Microelectronics Corp., TSMC’s smaller rival in the chip foundry business, the company was spun off and listed in 2001. All three are based in Taiwan’s Hsinchu Science Park. When it gained independence, CD-ROMs and DVDs were hot, and MediaTek made the chips which powered them. It’s been riding the electronics revolution ever since and Tsai was later named among the world’s best-performing chief executive officers by the Harvard Business Review. When Blu-ray players were introduced, it became a key supplier of components. By the time Bluetooth became standard in gadgets, later to include mobile phones, MediaTek had cheaper offerings than its rivals. Wi-Fi was another big boon to the company.In many cases, MediaTek didn’t have the first or even the best product in the market, but it consistently found a way to balance performance with cost, and leverage a huge uptake in a hip new technology that would invariably force prices down. Competitors were often left flat-footed, offering higher-priced chips when MediaTek’s components were considered acceptable while being far cheaper.When mobile telephony came along, particularly the 3G technology that enabled the mobile internet, MediaTek was recognized as a serious player. Before long, it was not only designing networking chips but the core processor that runs a smartphone or tablet, treading on turf dominated by Qualcomm Inc. It went one step further, offering reference designs — recipes for how to make a smartphone — whereas Qualcomm tended to just sell the chip and let device manufacturers figure out the rest.MediaTek’s semiconductors, and Google’s free Android operating system, gave rise to a boom in smartphones that could be made for as little as $20 apiece. It has since developed high-end chips with artificial intelligence capabilities. One parlor trick: using MediaTek-powered phones to follow human movement and mimic it on a robot.Now, there’s 5G.With Chinese smartphone brands like Huawei, Xiaomi Corp. and Oppo already clients, and China itself being the earliest adopter of this faster networking standard, MediaTek stands poised to benefit. It helps that its closest rival, Qualcomm, is an American company in the midst of a U.S.-China tech cold war.Its new mobile chipsets may be installed on more than 40% of 5G devices launched in China, Bloomberg Intelligence analyst Charles Shum writes, adding to the strength it already enjoys in the market for Wi-Fi and power-management components it supplies to the likes of Amazon.com Inc., Xiaomi and Alibaba Group Holding Ltd.MediaTek has built a good business from being a smaller, less-famous name from a little-known place in Taiwan. With Beijing-Washington tensions heating up, it now finds itself at the center of the action. The trick will be to remain indispensable without becoming collateral damage.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Is the BHP share price a good coronavirus hedge?

    BHP share price

    I think the BHP Group Ltd (ASX: BHP) share price could be a good hedge right now.

    Investors are starting to talk about a “two-speed” share market. We’re seeing a real split across the S&P/ASX 200 Index (ASX: XJO) between the winners and losers in the current economy.

    On the one hand, industries like travel and hospitality are struggling. However, some mining sectors, tech and gold are booming in the current climate.

    I think the BHP share price could be part of that “quicker speed” part of the economy. And that’s why it could be a good coronavirus hedge right now.

    Why the BHP share price has been surging higher

    Shares in the Aussie iron ore miners have done reasonably well this year.

    The BHP share price is down 2.6% for the year while Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Ltd (ASX: RIO) shares have climbed 69.8% and 2.8% higher, respectively.

    For context, the S&P/ASX 200 Index (ASX: XJO) is down 10.3% in the year to date.

    The key factor here has been surging iron ore prices. Demand out of China has been strong as the country’s infrastructure boom continues.

    That is good news for the BHP share price and the miner’s August earnings result. BHP is set to announce its FY20 result on August 18 and it’ll be one worth watching.

    Why BHP could be a coronavirus hedge

    It seems like much of BHP’s fortunes currently rest with China. While many ASX 200 shares are struggling, this unconventional share price driver could make BHP a good hedge.

    Despite all the rhetoric around trade diversification and a move away from China, it still makes up 48.8% of Australia’s exports.

    That’s good news for the iron ore miners like BHP. If the demand for iron ore remains strong, the BHP share price could break even in no time.

    In fact, if Australia starts an infrastructure boom of its own, BHP shares could be back in positive territory by the end of the year.

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    Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • ELMO Software share price on watch after delivering more strong growth in FY 2020

    asx tech shares

    The ELMO Software Ltd (ASX: ELO) share price will be on watch on Thursday after the release of the cloud-based HR, payroll, and rostering software provider’s full year results this morning.

    How did ELMO perform in FY 2020?

    For the 12 months ended 30 June 2020, ELMO‘s strong form continued and its delivered further strong growth in annualised recurring revenue (ARR), statutory revenue, cash receipts, and customer numbers.

    The company reported ARR of $55.1 million and statutory revenue of $50.1 million for FY 2020. This represents a 19.7% and 25% increase, respectively, over the prior corresponding period. Also growing strongly were its cash receipts. They came in at $57.5 million for the year, up 27.6% on FY 2019’s result.

    Over the period the company’s gross profit margin fell 1.3% to 85.3%. However, this was due to its investment in client services to support an enlarged and growing customer base.

    Statutory earnings before interest, tax, depreciation, and amortisation (EBITDA) was a loss of $4.2 million. Management advised that this reflects its continued investment to support its longer term growth initiatives.

    Despite this, the company finished the period in a very strong financial position. Thanks partly to its capital raising in May, ELMO had a cash balance of $139.9 million at the end of the period.

    Management advised that this means it is well capitalised to continue investing in both organic growth and strategic acquisitions.

    What were the drivers of its growth?

    One of the key drivers of ELMO’s growth was its increasing customer numbers. The company’s customer base grew to 1,682 organisations over the year, an increase of 25.4%.

    Also supporting its growth was an increase in average modules per customer from 2.4 to 2.7.

    Pleasingly, management notes that customer concentration remains very low, with the largest customer representing less than 2% of ARR. Furthermore, the 10 largest customers account for less than 7% of its ARR.

    Another positive is that ELMO’s Customer Lifetime Value to Customer Acquisition (LTV:CAC) ratio remains high at 8.1. Management believes this underpins its continued investment thesis in growth.

    ELMO’s CEO and Co-Founder, Danny Lessem, was pleased with the company’s performance in FY 2020.

    He commented: “Despite some of the challenges associated with COVID-19, FY20 has been another year of robust growth for ELMO. Particularly at this time, businesses are recognising the benefits of cloud-based technologies to deliver flexible and innovative workplace solutions.”

    “ELMO’s overall strategy remains unchanged: delivering organic growth supplemented with strategic acquisitions, continuing our growth trajectory into FY21 and beyond. We are well placed to capitalise on anticipated tailwinds in the adoption of cloud-based business tools, including HR-technology,” he added.

    FY 2021 outlook.

    Management appears confident that another year of strong growth awaits the company in FY 2021.

    It has provided guidance for ARR of $65 million to $70 million, which represents year on year growth of 18% to 27%.

    It will be a similar story for revenue, with the company expecting this to be in the range of $57 million to $61 million. This is expected to be driven by strong organic growth, supplemented with selective acquisitions.

    Once again, the company is expecting to post an operating loss as it focuses on its growth strategy. ELMO’s EBITDA is expected to be -$4 million to -$7 million in FY 2021.

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    James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Elmo Software. The Motley Fool Australia has recommended Elmo Software. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Novavax signs COVID-19 vaccine supply deal with India’s Serum Institute

    Novavax signs COVID-19 vaccine supply deal with India's Serum InstituteThe Indian drugmaker will have exclusive rights for the vaccine in India during the term of the deal and non-exclusive rights during the “Pandemic Period” in all countries other than those designated by the World Bank as upper-middle or high-income countries. The deal was signed on July 30, according to an SEC filing by Novavax. On Tuesday, Novavax reported that its experimental COVID-19 vaccine produced high levels of antibodies against the novel coronavirus in a small, early-stage clinical trial, and that it could start a large pivotal Phase III trial as soon as late September.

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  • Bezos Sells $3.1 Billion of Amazon Stock After Wealth Surge

    Bezos Sells $3.1 Billion of Amazon Stock After Wealth Surge(Bloomberg) — Jeff Bezos has trimmed his stake in Amazon.com Inc. by selling stock worth more than $3.1 billion.The richest person in the world sold about 1 million shares, according to Securities and Exchange Commission filings. Earlier this year he sold 2 million shares, worth $4.1 billion at the time, as part of a pre-arranged trading plan.For Bezos, 56, this year has been a reversal from years of relative restraint in reducing his holding in Amazon. He still holds more than 10% of the company and is worth $189.8 billion, according to the Bloomberg Billionaires Index. His fortune has surged by $74.9 billion this year with Amazon stock rising 73%.The Amazon founder’s fortune has grown at a mind-boggling pace this year despite the U.S. economy entering its worst economic downturn since the Great Depression. The online retail giant has benefited from increased demand from people forced to stay at home during the pandemic. The spectacular gains for Bezos and other tech titans have put Big Tech under increased scrutiny recently. Bezos testified before Congress last month along with the chief executives of Facebook Inc., Apple Inc., and Alphabet Inc. to defend their power and influence.Click here for the filing.Click here for the holdings data.(Updates share sale amount in headline and first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Why Airline Stocks Are Trading Higher Today

    Why Airline Stocks Are Trading Higher TodayShares of several airline companies such as American Airlines Group Inc. (NASDAQ: AAL), Delta Air Lines, Inc. (NYSE: DAL) and United Airlines Holdings, Inc. (NASDAQ: UAL) are trading higher following a report suggesting some senators are showing support for another round of payroll assistance.According to a CNBC report, "Sixteen Republican senators on Wednesday backed $25 billion in additional federal aid to support airline industry jobs as a spike in coronavirus cases in the U.S. hurt a modest recovery in flight demand in recent weeks."American Airlines' stock was trading up 11.40% at $12.78 per share on Wednesday at the time of publication. The company has a 52-week high of $31.67 and a 52-week low of $8.25.Delta's stock was trading up 3.80% at $26.65. The company has a 52-week high of $62.48 and a 52-week low of $17.51.United Airlines' stock was trading up 5.22% at $33.97. The company has a 52-week high of $95.16 and a 52-week low of $17.80.See more from Benzinga * Why Roku's Stock Is Trading Higher Today * Why Snap's Stock Is Trading Higher Today * Why Applied DNA Sciences' Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • ELMO Software share price on watch after delivering more strong growth in FY 2020

    asx tech shares

    The ELMO Software Ltd (ASX: ELO) share price will be on watch on Thursday after the release of the cloud-based HR, payroll, and rostering software provider’s full year results this morning.

    How did ELMO perform in FY 2020?

    For the 12 months ended 30 June 2020, ELMO‘s strong form continued and its delivered further strong growth in annualised recurring revenue (ARR), statutory revenue, cash receipts, and customer numbers.

    The company reported ARR of $55.1 million and statutory revenue of $50.1 million for FY 2020. This represents a 19.7% and 25% increase, respectively, over the prior corresponding period. Also growing strongly were its cash receipts. They came in at $57.5 million for the year, up 27.6% on FY 2019’s result.

    Over the period the company’s gross profit margin fell 1.3% to 85.3%. However, this was due to its investment in client services to support an enlarged and growing customer base.

    Statutory earnings before interest, tax, depreciation, and amortisation (EBITDA) was a loss of $4.2 million. Management advised that this reflects its continued investment to support its longer term growth initiatives.

    Despite this, the company finished the period in a very strong financial position. Thanks partly to its capital raising in May, ELMO had a cash balance of $139.9 million at the end of the period.

    Management advised that this means it is well capitalised to continue investing in both organic growth and strategic acquisitions.

    What were the drivers of its growth?

    One of the key drivers of ELMO’s growth was its increasing customer numbers. The company’s customer base grew to 1,682 organisations over the year, an increase of 25.4%.

    Also supporting its growth was an increase in average modules per customer from 2.4 to 2.7.

    Pleasingly, management notes that customer concentration remains very low, with the largest customer representing less than 2% of ARR. Furthermore, the 10 largest customers account for less than 7% of its ARR.

    Another positive is that ELMO’s Customer Lifetime Value to Customer Acquisition (LTV:CAC) ratio remains high at 8.1. Management believes this underpins its continued investment thesis in growth.

    ELMO’s CEO and Co-Founder, Danny Lessem, was pleased with the company’s performance in FY 2020.

    He commented: “Despite some of the challenges associated with COVID-19, FY20 has been another year of robust growth for ELMO. Particularly at this time, businesses are recognising the benefits of cloud-based technologies to deliver flexible and innovative workplace solutions.”

    “ELMO’s overall strategy remains unchanged: delivering organic growth supplemented with strategic acquisitions, continuing our growth trajectory into FY21 and beyond. We are well placed to capitalise on anticipated tailwinds in the adoption of cloud-based business tools, including HR-technology,” he added.

    FY 2021 outlook.

    Management appears confident that another year of strong growth awaits the company in FY 2021.

    It has provided guidance for ARR of $65 million to $70 million, which represents year on year growth of 18% to 27%.

    It will be a similar story for revenue, with the company expecting this to be in the range of $57 million to $61 million. This is expected to be driven by strong organic growth, supplemented with selective acquisitions.

    Once again, the company is expecting to post an operating loss as it focuses on its growth strategy. ELMO’s EBITDA is expected to be -$4 million to -$7 million in FY 2021.

    5 stocks under $5

    We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.

    And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

    See the 5 stocks

    *Extreme Opportunities returns as of June 5th 2020

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    James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Elmo Software. The Motley Fool Australia has recommended Elmo Software. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Why I would buy CBA and this ASX dividend share

    CBA share price

    With the banks slashing the interest rates on their savings accounts and term deposits to ultra low levels this year, it is getting harder and harder to generate a sufficient passive income to live on.

    In light of this, I think savers should look to the share market for their income needs due to the high quality dividend shares on offer.

    Two dividend shares that I would buy are listed below:

    BHP Group Ltd (ASX: BHP)

    The first dividend share to consider buying is BHP. I believe the mining giant is a great option for income investors due to its world class operations, strong balance sheet, and its positive long term growth outlook. Combined with its low costs and favourable commodity prices, I believe BHP is well-placed to deliver strong free cash flows over the coming years. This is particularly the case given that iron ore prices are hovering above US$110 a tonne at the moment.

    Pleasingly for shareholders, given the aforementioned strength of its balance sheet, I expect the majority of its free cash flow to be returned in the form of dividends. As a result of this and based on the current BHP share price, I estimate that its shares offer investors a forward fully franked ~5% dividend yield.

    Commonwealth Bank of Australia (ASX: CBA)

    Another option for income investors to consider buying is Commonwealth Bank. This banking giant is facing very tough trading conditions at present, particularly after the Victorian lockdowns. However, with its shares down 21% from their high, I’m optimistic that the worst has been priced into its shares now.

    In light of this, I feel now could be a good time to pick up shares if you don’t already have exposure to the banking sector. And while estimating what kind of dividend Commonwealth Bank will pay in FY 2021 is difficult, I expect a fully franked yield in the region of 4% to 5% at present.

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    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    *Returns as of June 30th

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Pan American Silver reports cash flow from operations of $62.8 million in Q2 2020 and updates 2020 guidance

    Pan American Silver reports cash flow from operations of $62.8 million in Q2 2020 and updates 2020 guidanceVANCOUVER, BC, Aug. 5, 2020 /CNW/ – Pan American Silver Corp.

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