Earnings CTX

Earnings CTX.ASX

First half 16 EBIT $340 million is well above the $265 million in first half 15. Underlying forecast growth tracks at around 7% and forecast FY17 dividend of $1.03 (up from $0.94 in FY16) puts CTX on a forward yield of 3.3%.

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Continue to maintain long position with $34 target + covered call.

 

Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks