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

 

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