The Australian reporting season has ramped up this week and Luke Laretive from Seneca Financial Solutions has sifted through the deluge of reports.
He highlights three of the biggest losers so far when it comes to Australian listed stocks, and gives his ideas for what stocks investors should be buying instead. Kicking it all off with Iress (IRE). Shares of the Australian listed company have been hammered after the company suspended its dividend with no real growth on the top or bottom line.
Luke says it’s going to take a lot to turn the ship around and it will take years not months, and millions not thousands of dollars to do Elders (ELD) and retailer Adairs (ADH) also disappointed when they released full year earnings.
So what stocks should investors buy instead?
Luke highlights Breville Group (BRG), with its geographic diversity of earnings and impressive sales growth, forecasting multiple years of profitability in the face of a high multiple.
NIB Holdings (NHF) and Allkem (AKE) round out Luke’s top three buys. Find out why here.