MENU

Why Cochlear Limited is among 3 shares printing 52-week highs

Another trading week has kicked off and these three companies are at the top of their game – coming in strong and printing 52-week share price highs.

Bingo Industries Ltd (ASX: BIN)

Waste management and recycling company Bingo Industries shares are marginally down at the time of writing at $3.16 after closing off last week’s trading at a 52-week share price high of $3.18, after reaching $3.27 during Friday trading.

Bingo reported a pro form NPATA of $48.2 million, up 44.8%, when it handed down its FY18 results.

Revenue growth also came in strong – rising 44.5% to $303.8 million while Bingo announced it would acquire Dial A Dump Industries for $577.5 million by way of a $425 million entitlement offer and an issue of new Bingo shares to vendors on acquisition completion.

And things are looking rosy into the future for the fast-growing company, with Bingo management indicating they anticipate between 15% and 20% EBITDA growth in the underlying business for FY19 with more merger and acquisition plans in store if the shoe fits.

It’s undeniable the waste management and recycling space is a hot one right now, and Bingo seems to be riding this trend.

One to watch over FY19 for certain.

Speedcast Industries Ltd (ASX: SDA)

With a market cap of $1.6 billion Speedcast is an emerging player, but it’s certainly been making an impression in the niche satellite-based communication segment, and things don’t look to be slowing up any time soon.

Speedcast shares are at $6.68 at the time of writing – hovering right on its 52-week high of $6.72 to close off last week’s trade as the company gears up to hand down its first half results tomorrow.

All eyes will be on Speedcast as the company results detail the outcome of its Harris CapRock transaction, which positioned the company as the largest remote communications provider in the world late in 2017.

There is little question that Speedcast is an exciting technology share – already servicing 140 countries – with its FY17 results revealing whopping revenue growth of 136% and EBITDA growth of 195%.

This type of precedent means tomorrow’s results out of Speedcast are hotly anticipated.

Can they keep this impressive momentum going?

Cochlear Limited (ASX: COH)

S&P/ASX 200 market darling Cochlear Limited shares are at a 52-week high at the time of writing – up 0.9% to $213.70.

Cochlear is a stellar growth share so there were some high expectations from the investment community when its FY18 results were handed down earlier this month.

But Cochlear’s report fell short, with the company posting a 9% rise in sales revenue to $1.3 billion and a 10% increase in NPAT to $245.8 million – barely scraping double figures.

But even without the wow factor in its recent results, Cochlear still has market dominance in a highly-sought after industry niche with presence in more than 100 countries – so there’s every chance it has a lot of long-term growth left in it yet.

For now, investors continue to rally behind this outperformer.

Cochlear is certainly a performer, but it wouldn't be considered as a blue chip share in many circles.

You'll find our top 3 ASX Blue Chips To Buy In 2018 here

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.