04/12/2024 09:37

Metcash (MTS) $3.43

MTS reported 1H25 results on Monday that were in line with recently downgraded guidance. However, the important part of the update was refreshed insight into how trade was tracking to start the 2H, with noticeable improvement across hardware and liquor, two areas the market had concerns about.

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02/12/2024 16:50

Metcash (MTS) $3.19

MTS +2.24%: Reported 1H25 results this morning that were inline with company guidance and slightly ahead of consensus, which had been downgraded about a month ago.

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13/11/2024 09:29

Metcash (MTS) $3.04

A tough run in the last few months for Metcash, with selling accelerating when Goldman Sachs took a knife to their forecasts and cut the stock to sell, a good call in hindsight ahead of the company downgrading 1H25 earnings guidance towards the end of October.

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23/10/2024 09:18

Metcash (MTS) $3.33

A tough session yesterday for MTS following an aggressive broker downgrade from Goldmans to a sell (from neutral) and a $3.10 price target, 13% below the price before they released the note. This is an “outlier” call from  Analyst Lisa Deng and goes hard against consensus, hence the big influence on the stock.

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18/09/2024 09:25

Metcash Ltd (MTS) $3.57

MTS has resided in our Hitlist for a while as an option for when we want to migrate the portfolio down the risk curve &/or if its price affords us enticing value. The stock is forecast to yield in excess of 6% fully franked over the coming 12-months; hence, with good entry, it’s a solid holding, even for a growth portfolio from a medium-term perspective.

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05/07/2024 09:24

Metcash Ltd (MTS) $3.59

MTS delivered a mixed result in late June, which has seen the stock trade down towards fresh 3-year lows. The bright spot was a dividend of 8.5 cents for the half, which took the full-year dividend to 19.5 cents, putting the stock on a fully franked yield of around 5.5%. Hardware is the most cyclical MTS division.

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24/06/2024 17:14

Metcash (MTS) $3.69

MTS -2.38%: A mixed result for MTS today, with FY24 Sales of $18.2bn up +0.7% for the year and inline with consensus and this dropped down to reported Net Profit After tax (NPAT) of $257.2m, down -0.7%, and around 4% below consensus. The dividend of 8.5cps for the half took the full year dividend to 19.5cps, which was slightly ahead of the streets 19.1cps expected.

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31/05/2024 09:18

Metcash Ltd (MTS) $3.69

We have delved into MTS a few times in 2024; it continues to be a stock we like and hold. Our more positive outlook on MTS is 3-fold.

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02/05/2024 09:41

Metcash Ltd (MTS) $3.84

We discussed MTS at length in mid-March; it’s a stock we like and hold, with our positive view predicated on the growing proportion of earnings coming from higher growth areas such as Hardware.

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13/03/2024 09:20

Metcash Ltd (MTS) $3.93

MTS held a well-attended investor day yesterday, which speaks to the increasing interest in the stock. Tuesday was company presentations, putting more meat on the bones of their strategy, while today will be site visits, probably less well attended! We’ve owned MTS in the Income Portfolio since 2020, and we think the business has improved over that time and should be trading on a higher multiple of a growing earnings stream.

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