As we roll into the busiest week of reporting season, now is a great time to take stock of the results to date. Armed with the most up to date information and guidance, investors can make fully informed buy, hold or sell decisions.
ASX reporting season is as much about expectations as it is about results. Here are 3 ASX 200 stocks which have seen their share price rise since their results were released.
Commonwealth Bank of Australia Limited (ASX: CBA)
CBA shares are up over 7% since reporting FY20 interim results on Wednesday 12 February. The banks results showed a better than expected start to FY20, thanks in part to strong margins.
The bank's operating income came in at $12,416 million, which was flat on the prior corresponding period. Half year cash earnings of $4,477 million came in ahead of the consensus estimate of $4,405 million.
CBA also declared a fully franked interim dividend of $2.00 per share, unchanged compared to the previous interim dividend.
JB Hi-Fi Limited (ASX: JBH)
JB Hi-Fi released its FY20 interim results on Monday 10 February. The market loved the strong result, with JB Hi-Fi shares up over 11% on the day of release.
Total sales were up 3.9% to $4 billion. Earnings per share grew by 8.9% to 151.8 cents per share.
The JB interim dividend was raised 8.8% to $0.99 per share.
The strong result has allowed management to guide for FY20 sales of ~$7.33 billion. This is an increase on previous guidance of ~$7.25 billion.
Challenger Limited (ASX: CGF)
The Challenger share price continued its strong 5 month run up when results were released on Tuesday 11 February. The stock price rose over 6% when the results were released, ending the week up 13%.
Challenger reported a 10% improvement in group assets under management of $86 billion, a 4% decline in normalised net profit after tax (NPAT) to $191 million, and a normalised return on equity of 15.2%.
CEO and MD Richard Howes noted, "Our business model, leading brand and diversified distribution have ensured we can continue to deliver solid earnings despite significant and ongoing challenges in our operating environment."
The company advised that it expects to fall within the top end of its FY20 NPAT guidance of $500 to $550 million and meet its return-on-equity target.
