Here are 3 ASX stocks to watch this week with eager interest!

Nick Sundich Nick Sundich, July 31, 2023

There are 3 ASX stocks to watch this week, because they are releasing results this week.

Although reporting season has got underway last week, most companies will be releasing results later in the months of August. But these 3 are coming this week and will inevitably be in the spotlight more than others. So, here is an early heads up about those ASX stocks to watch over the week ahead!

 

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3 ASX stocks to watch this week!

 

1. Credit Corp Group Limited (ASX: CCP)

This company is reporting tomorrow (August 1) and we mentioned it last week as one of the top ASX stocks to watch for the entire reporting season.

Credit Corp is one of those companies that major financial institutions sell bad debts to because they’ve just given up. Credit Corp makes money by recovering the debt but doing so in a way that is both profitable for them but also possible to actually recover the debt.

With the cost of living crisis impacting so many people, it’ll be interesting to see the growth in the company’s ‘loan book’ which was over $300m as of 1HY23. Granted, the company’s statutory results might not be as spectacular. Consensus estimates call for 14% revenue growth but for a 4% EBITDA decline and a 10% EPS decline.

 

2. BWP Trust (ASX: BWP)

BWP is the biggest Bunnings landlord in Australia. If this company reports a bad result when it unveils its accounts this Wednesday, there’s little to no hope for other property stocks to do well this reporting season.

Consensus estimates call for $157.8m in revenue (up 2.9%) and 18c in normalised EPS (flat compared to a year go). Don’t just watch its results, however. Also look at its NTA and its change in the last 6 months. As of the end of December 2022, it was $3.95 per share, a figure 5.3% higher than 6 months ago.

 

3. ResMed (ASX: RMD)

ResMed, a company which helps treat sleeping disorders, is one of the few Australian healthcare stocks that has successfully gone global in its own right. Since ResMed is now an American domiciled company, it will be releasing fourth quarter results this Friday (6.30am Sydney time).

Similar to what BWP will be for property stocks, we think if ResMed reports bad results, investors in other healthcare companies shouldn’t have much hope. For 4Q23, consensus estimates call for $1.69 per share (up from $1.68 in 3Q) and $1.14bn in revenue (up 1.6%).

Looking to the full year, consensus estimates suggest $4.23bn in revenue (up 18%) and 65c EPS (up 12%). But it is fair to say that the 4Q results will play a big part in determining whether or not ResMed will achieve its guidance.

 

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