Algo Update – CIMIC Group

Our Algo Engine triggered a recent buy signal in CIMIC Group and the price action is now finding renewed buying support near $44.

We’re comfortable with CIMIC’s s strong balance sheet, with $910 million of net cash on the balance sheet after the company added more than $500 millon in FY17.

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CIMIC’s first-quarter FY18 result is due tomorrow and revenue growth is expected to be up  5 – 8% at $3.2 billion+ and profit growth up 10%.

CIMIC trades on a 3.8% forward yield into FY19

 

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