Australian Broker Call *Extra* Edition – Apr 27, 2022

This story features AERIS RESOURCES LIMITED, and other companies. For more info SHARE ANALYSIS: AIS

An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

AIS   ALX   AMS   ANZ   BHP   BRL   BXB   CBA   CGF   CU6   DOC   DRR   EDV   EVN (2)   HUB   JHG   LME   MIN   NAB   NWL   OZL   PPT   RBL   SGP   STO   WBC  

AIS    AERIS RESOURCES LIMITED

Copper – Overnight Price: $0.13

Bell Potter rates ((AIS)) as Buy (1) –

Aeris Resources has updated the outlook for Tritton copper operations. Annual copper production targets for FY23 and FY24 are 20-22,000t and 21-23,000t, respectively. Drilling reports also signal a 6m thick massive to semi-massive sulphide interval.

After a disappointing March quarter, with low mined output at both Tritton and Cracow, Bell Potter cuts FY22 earnings forecast by -33% amid downgraded guidance for Cracow.

A Buy rating is maintained. Target is raised to $0.25 from $0.21.

This report was published on April 22, 2022.

Target price is $0.25 Current Price is $0.13 Difference: $0.12
If AIS meets the Bell Potter target it will return approximately 92% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.50.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 4.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.10.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ALX    ATLAS ARTERIA

Infrastructure & Utilities – Overnight Price: $6.85

Jarden rates ((ALX)) as Overweight (2) –

Jarden believes the re-election of Emmanuel Macron as the French president will allay market concerns regarding talk of nationalisation, reducing the regulatory risks.

Over the medium to longer term, the broker expects investment opportunities for Atlas Arteria from a resumption of the 2018 infrastructure agenda.

The main attraction in the stock, Jarden believes, is a relatively high dividend compared with industry peers and opportunities in Europe, while the potential change in the tolling regime and regulatory framework for Dulles Greenway could unlock value. Overweight rating and $7 target maintained.

This report was published on April 22, 2022.

Target price is $7.00 Current Price is $6.85 Difference: $0.15
If ALX meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $6.78, suggesting downside of -1.1%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 37.20 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.0, implying annual growth of 204.6%.
Current consensus DPS estimate is 41.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 13.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 49.10 cents and EPS of 47.50 cents.
At the last closing share price the estimated dividend yield is 7.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.0, implying annual growth of 9.6%.
Current consensus DPS estimate is 48.1, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 12.0.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

AMS    ATOMOS LIMITED

Consumer Electronics – Overnight Price: $0.73

Shaw and Partners rates ((AMS)) as Buy (1) –

Atomos has launched two new products, Atomos Connect and Shogun Connect. The company has also acquired a partnership with Frame.io, and Adobe company. Guidance has been reiterated for revenue of $95m with a 12-15% EBITDA margin.

The new products will mean the company moves towards capturing revenue through the value chain via product and subscriptions compared with a predominantly hardware focus previously.

Shaw and Partners is confident revenue guidance will be achieved in FY22 and retains a Buy rating. Target is $1.80.

This report was published on April 22, 2022.

Target price is $1.80 Current Price is $0.73 Difference: $1.07
If AMS meets the Shaw and Partners target it will return approximately 147% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.55.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.31.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ANZ    AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

Banks – Overnight Price: $27.62

Jarden rates ((ANZ)) as Neutral (3) –

Jarden considers the major banks are fair value yet believes, while factored in, there are positive tailwinds for the sector such as rising interest rates and low bad debts. Following recent outperformance, the broker downgrades the sector to Neutral.

ANZ Bank remains the broker's value pick although there is some scepticism surrounding the ability to turnaround volumes without using price. Jarden retains a Neutral rating and envisages scope for a new $1.5bn buyback. Target is $29.30.

This report was published on April 22, 2022.

Target price is $29.30 Current Price is $27.62 Difference: $1.68
If ANZ meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $30.02, suggesting upside of 8.7%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 144.00 cents and EPS of 216.00 cents.
At the last closing share price the estimated dividend yield is 5.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 202.8, implying annual growth of -6.6%.
Current consensus DPS estimate is 145.4, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 13.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 153.00 cents and EPS of 226.00 cents.
At the last closing share price the estimated dividend yield is 5.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 225.3, implying annual growth of 11.1%.
Current consensus DPS estimate is 159.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.3.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BHP    BHP GROUP LIMITED

Bulks – Overnight Price: $45.66

Shaw and Partners rates ((BHP)) as Buy (1) –

Shaw and Partners notes FY22 is tracking in line with expectations with iron ore performing strongly and the company on track to achieve full year of volume and cost guidance.

The Queensland metallurgical coal business provided a strong performance in the March quarter, benefiting from better weather compared with NSW.

Production guidance for FY22 is unchanged for iron ore, metallurgical coal and energy coal. Copper guidance has been lowered to reflect a reduction in production at Escondida. Buy rating and $51 maintained.

This report was published on April 22, 2022.

Target price is $51.00 Current Price is $45.66 Difference: $5.34
If BHP meets the Shaw and Partners target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $52.26, suggesting upside of 14.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 1477.77 cents and EPS of 610.49 cents.
At the last closing share price the estimated dividend yield is 32.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 599.8, implying annual growth of N/A.
Current consensus DPS estimate is 471.2, implying a prospective dividend yield of 10.3%.
Current consensus EPS estimate suggests the PER is 7.6.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 483.46 cents and EPS of 480.61 cents.
At the last closing share price the estimated dividend yield is 10.59%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 524.3, implying annual growth of -12.6%.
Current consensus DPS estimate is 385.8, implying a prospective dividend yield of 8.4%.
Current consensus EPS estimate suggests the PER is 8.7.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BRL    BATHURST RESOURCES LIMITED

Coal – Overnight Price: $1.12

Bell Potter rates ((BRL)) as Buy (1) –

Bell Potter has upgraded the metallurgical coal price outlook, to an average US$384/t in 2022 and US$238/t in 2023.  This drives upgraded forecasts for Bathurst Resources.

Under the broker's outlook, the company is expected to generate significant free cash flow and restore strength to its balance sheet, potentially providing distributions.

Buy rating maintained. Target rises to $1.63 from $1.25.

This report was published on April 22, 2022.

Target price is $1.63 Current Price is $1.12 Difference: $0.51
If BRL meets the Bell Potter target it will return approximately 46% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of 42.39 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.64.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 18.84 cents and EPS of 37.77 cents.
At the last closing share price the estimated dividend yield is 16.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.97.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $10.57

Jarden rates ((BXB)) as Overweight (2) –

Brambles has flagged revenue growth of 8% for the nine months to March in FY22. The majority of the growth has come from price increases. Pallet availability remains tight across key markets.

Brambles will not proceed with a plastic pallets investment decision should returns be less than the group return on invested capital, which was 18.8% in the first half.

Jarden notes the upgraded guidance for FY22 is in contrast to expectations, given geopolitical issues in Europe and concerns about inventory in the US have triggered market concerns about potential downgrades to the outlook.

The broker retains an Overweight rating and raises the target to $11.50 from $11.00.

This report was published on April 22, 2022.

Target price is $11.50 Current Price is $10.57 Difference: $0.93
If BXB meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $11.78, suggesting upside of 11.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 37.42 cents and EPS of 53.96 cents.
At the last closing share price the estimated dividend yield is 3.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.6, implying annual growth of N/A.
Current consensus DPS estimate is 32.2, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 18.0.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 38.37 cents and EPS of 55.32 cents.
At the last closing share price the estimated dividend yield is 3.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.6, implying annual growth of 8.5%.
Current consensus DPS estimate is 34.8, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 16.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CBA    COMMONWEALTH BANK OF AUSTRALIA

Banks – Overnight Price: $104.75

Jarden rates ((CBA)) as Downgrade to Underweight from Overweight (4) –

Mortgage growth is moderating and there is reduced new flow to fixed-rate mortgages, Jarden observes.

While downgrading to Underweight from Overweight on the back of recent outperformance, the broker still considers the stock deserves a premium to peers and offers better leverage to rising interest rates. Target is $103.

Jarden considers the major banks are fair value yet believes, while factored in, there are positive tailwinds for the sector such as rising interest rates and low bad debts. Following recent outperformance, the broker downgrades the sector to Neutral.

This report was published on April 22, 2022.

Target price is $103.00 Current Price is $104.75 Difference: minus $1.75 (current price is over target).
If CBA meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $92.45, suggesting downside of -11.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 385.00 cents and EPS of 504.00 cents.
At the last closing share price the estimated dividend yield is 3.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 523.1, implying annual growth of -9.0%.
Current consensus DPS estimate is 372.7, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 20.0.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 403.00 cents and EPS of 518.00 cents.
At the last closing share price the estimated dividend yield is 3.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 545.8, implying annual growth of 4.3%.
Current consensus DPS estimate is 414.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 19.2.

Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CGF    CHALLENGER LIMITED

Wealth Management & Investments – Overnight Price: $7.05

Jarden rates ((CGF)) as Neutral (3) –

The update on the March quarter has revealed positive leverage to rising interest rates, in Jarden's view.  The broker envisages scope for annuity demand to improve further into FY23.

Nevertheless, a Neutral rating is retained for Challenger, given the headroom on value is more limited. The stock is currently trading broadly in line with the broker's target of $7.45, raised from $6.95.

This report was published on April 22, 2022.

Target price is $7.45 Current Price is $7.05 Difference: $0.4
If CGF meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.05, suggesting downside of -0.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 23.60 cents and EPS of 42.30 cents.
At the last closing share price the estimated dividend yield is 3.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 45.5, implying annual growth of -48.4%.
Current consensus DPS estimate is 23.4, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 15.5.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 23.50 cents and EPS of 49.70 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.4, implying annual growth of 2.0%.
Current consensus DPS estimate is 25.5, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 15.2.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CU6    CLARITY PHARMACEUTICALS LIMITED

Medical Equipment & Devices – Overnight Price: $0.51

Bell Potter rates ((CU6)) as Resume Coverage with Buy (1) –

Bell Potter is encouraged by the progress Clarity Pharmaceuticals is making in the clinic, with the development of its targeted copper theranostics for the imaging and treatment of various cancers.

The imaging and therapy trials in metastatic castrate resistant prostate cancer are also progressing well.

The broker resumes coverage of the stock with a Buy rating and $1 target.

This report was published on April 22, 2022.

Target price is $1.00 Current Price is $0.51 Difference: $0.49
If CU6 meets the Bell Potter target it will return approximately 96% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 7.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.89.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 13.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.70.

All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

DOC    DOCTOR CARE ANYWHERE GROUP PLC

Healthcare services – Overnight Price: $0.27

Bell Potter rates ((DOC)) as Buy (1) –

Doctor Care Anywhere reported a strong March quarter for revenue. Gross profit margins increased to 45.5%, which impressed Bell Potter. The broker had not expected significant margin improvement until the second half and consequently upgrades estimates for the full year.

Guidance for 2022 revenue has been maintained in a range of GBP35-38m and the broker considers hitting the top end of this range is a reasonable expectation. Buy retained. Target is reduced to $0.53 from $0.55.

This report was published on April 22, 2022.

Target price is $0.53 Current Price is $0.27 Difference: $0.26
If DOC meets the Bell Potter target it will return approximately 96% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 7.93 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.40.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.03 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.31.

This company reports in GBP. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

DRR    DETERRA ROYALTIES LIMITED

Iron Ore – Overnight Price: $4.64

Shaw and Partners rates ((DRR)) as Hold (3) –

Shaw and Partners observes Deterra Royalties continues to enjoy the returns from the Mining Area C along with the addition of the ramp up of the new operating South Flank. This affords the company the second highest iron ore production growth among major Australian iron companies.

South Flank is on track to ramp up to full production capacity of 80mtpa over three years. This is a notionally higher cost operation compared with some of the other BHP Group ((BHP)) mines although unit revenue is higher.

Hence, the broker warns there will be a judgement made about which product to push and whether to favour South Flank or not. Hold rating maintained. Target is $4.10.

This report was published on April 22, 2022.

Target price is $4.10 Current Price is $4.64 Difference: minus $0.54 (current price is over target).
If DRR meets the Shaw and Partners target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.03, suggesting upside of 8.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 35.00 cents and EPS of 35.50 cents.
At the last closing share price the estimated dividend yield is 7.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.1, implying annual growth of 74.3%.
Current consensus DPS estimate is 31.6, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 14.9.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 30.00 cents and EPS of 30.90 cents.
At the last closing share price the estimated dividend yield is 6.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.8, implying annual growth of -4.2%.
Current consensus DPS estimate is 31.4, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 15.6.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EDV    ENDEAVOUR GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $7.83

Jarden rates ((EDV)) as Underweight (4) –

Sales in the March quarter were slightly softer while hotels were in line with expectations. Jarden reduces estimates for earnings per share by -7% in FY22 to reflect a weaker contribution from hotels and the one-off impact of the floods.

The broker assesses management is executing well and there are clear signs of the benefits from being a stand-alone entity. Nevertheless, valuation appears full and the key to the broker becoming more positive is the company's ability to unlock latent value around property, digital and M&A.

Underweight rating maintained. Target is reduced to $6.80 from $6.90.

This report was published on April 22, 2022.

Target price is $6.80 Current Price is $7.83 Difference: minus $1.03 (current price is over target).
If EDV meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.28, suggesting downside of -7.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 19.50 cents and EPS of 27.20 cents.
At the last closing share price the estimated dividend yield is 2.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.7, implying annual growth of 11.5%.
Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 28.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 22.00 cents and EPS of 29.70 cents.
At the last closing share price the estimated dividend yield is 2.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.7, implying annual growth of 10.8%.
Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 25.5.

Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EVN    EVOLUTION MINING LIMITED

Gold & Silver – Overnight Price: $4.10

JP Morgan rates ((EVN)) as Neutral (3) –

The effect of Evolution Mining's -14% production miss (due to weather/covid) versus JP Morgan's forecast, largely flowed on to a -24% miss on costs. 

Management downgraded FY22 production guidance by -7% to 650koz, while cost guidance was maintained. The broker lowers its target price to $4.80 from $4.90.

The Neutral rating is maintained. The broker has a balanced view of gold overall, with rising inflation expectations being dampened by larger potential rate rises.

This report was published on April 22, 2022.

Target price is $4.80 Current Price is $4.10 Difference: $0.7
If EVN meets the JP Morgan target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.33, suggesting upside of 5.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 8.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 1.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.3, implying annual growth of -9.5%.
Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 22.4.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 12.00 cents and EPS of 41.00 cents.
At the last closing share price the estimated dividend yield is 2.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.9, implying annual growth of 52.5%.
Current consensus DPS estimate is 5.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 14.7.

Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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Shaw and Partners rates ((EVN)) as Buy (1) –

Shaw and Partners highlights the contribution from Ernest Henry in the March quarter and expects this asset will generate benefits for many years. Meanwhile, the transformation of Red Lake is progressing.

Cowal sustained covid and rain impacts but still produced a "good" quarter. The broker likes Evolution Mining as it closes the recent performance gap to peers and transforms its portfolio. Buy rating maintained. Target is $4.75.

This report was published on April 22, 2022.

Target price is $4.75 Current Price is $4.10 Difference: $0.65
If EVN meets the Shaw and Partners target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.33, suggesting upside of 5.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 11.00 cents and EPS of 20.80 cents.
At the last closing share price the estimated dividend yield is 2.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.3, implying annual growth of -9.5%.
Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 22.4.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 16.00 cents and EPS of 23.10 cents.
At the last closing share price the estimated dividend yield is 3.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.9, implying annual growth of 52.5%.
Current consensus DPS estimate is 5.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 14.7.

Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $23.86

JP Morgan rates ((HUB)) as Neutral (3) –

According to JP Morgan, Hub24 delivered a soft 3Q update weighed down by covid, market volatility and geopolitical events. It's thought a potential 4Q headwind is softer incremental adviser additions during the 3Q.

The brokers earnings (EBITDA) forecasts decrease by -4% in FY22, -6% in FY23 and -6% in FY24, and the target price slips to $25.60 from $26.00. The Neutral rating is maintained.

This report was published on April 20, 2022.

Target price is $25.60 Current Price is $23.86 Difference: $1.74
If HUB meets the JP Morgan target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $33.87, suggesting upside of 42.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 15.00 cents and EPS of 42.00 cents.
At the last closing share price the estimated dividend yield is 0.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.7, implying annual growth of 235.7%.
Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 55.9.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 22.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.9, implying annual growth of 37.9%.
Current consensus DPS estimate is 24.4, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 40.5.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

JHG    JANUS HENDERSON GROUP PLC

Wealth Management & Investments – Overnight Price: $45.08

JP Morgan rates ((JHG)) as Neutral (3) –

Ahead of 1Q earnings for Janus Henderson on May 4, JP Morgan lowers 1Q estimates due to adverse flows and market impacts, and the target price slips to $47 from $50.

The broker lowers performance fee estimates for the 1Q, based on deteriorating performance in some key US funds and the impact of poor market conditions on performance fees for its UK/European funds.

While JP Morgan feels the valuation is low and the dividend yield high, the outlook for growth investing is now more uncertain and outflows persist. The Neutral rating is maintained.

This report was published on April 22, 2022.

Target price is $47.00 Current Price is $45.08 Difference: $1.92
If JHG meets the JP Morgan target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $50.10, suggesting upside of 11.1%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 216.92 cents and EPS of 496.20 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 524.2, implying annual growth of N/A.
Current consensus DPS estimate is 221.9, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 8.6.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 238.61 cents and EPS of 463.67 cents.
At the last closing share price the estimated dividend yield is 5.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 513.9, implying annual growth of -2.0%.
Current consensus DPS estimate is 271.5, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 8.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

LME    LIMEADE, INC

Cloud services – Overnight Price: $0.38

Shaw and Partners rates ((LME)) as Buy (1) –

The main items that stood out for Shaw and Partners in the quarterly trading update include the 100% revenue retention over the year to date, Limeade's increased pipeline of $16.3m and the confirmation of FY22 revenue and operating earnings guidance.

The broker flags key metrics are improving and reiterates a Buy rating with a $0.64 target.

This report was published on April 22, 2022.

Target price is $0.64 Current Price is $0.38 Difference: $0.26
If LME meets the Shaw and Partners target it will return approximately 68% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 5.97 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.37.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.01.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

MIN    MINERAL RESOURCES LIMITED

Iron Ore – Overnight Price: $54.67

Bell Potter rates ((MIN)) as Buy (1) –

Post the March quarter, Bell Potter updates its valuation. The broker believes Mineral Resources maintains an excellent portfolio of both operating and development assets.

Several catalysts will provide additional news flow including the renegotiation of the MARBL joint venture and the transformational iron ore project in the Pilbara.

Target is reduced to $70.00 from $74.35, largely because of an increased risk discount applied to the valuation of Ashburton. Buy rating unchanged.

This report was published on April 22, 2022.

Target price is $70.00 Current Price is $54.67 Difference: $15.33
If MIN meets the Bell Potter target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $66.61, suggesting upside of 21.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 40.90 cents and EPS of 309.30 cents.
At the last closing share price the estimated dividend yield is 0.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 242.8, implying annual growth of -63.9%.
Current consensus DPS estimate is 96.1, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 22.5.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 96.00 cents and EPS of 551.40 cents.
At the last closing share price the estimated dividend yield is 1.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 876.2, implying annual growth of 260.9%.
Current consensus DPS estimate is 343.8, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 6.2.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NAB    NATIONAL AUSTRALIA BANK LIMITED

Banks – Overnight Price: $32.74

Jarden rates ((NAB)) as Overweight (2) –

Jarden considers the major banks are fair value yet believes, while factored in, there are positive tailwinds for the sector such as rising interest rates and low bad debts. Following recent outperformance, the broker downgrades the sector to Neutral.

Jarden expects a solid first half result for National Australia Bank, reflecting strong above-system mortgage growth and robust markets income. The bank remains the broker's key pick in the sector. Overweight maintained. Target is $32.50.

This report was published on April 22, 2022.

Target price is $32.50 Current Price is $32.74 Difference: minus $0.24 (current price is over target).
If NAB meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $32.34, suggesting downside of -1.2%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 143.00 cents and EPS of 203.00 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 204.5, implying annual growth of 5.9%.
Current consensus DPS estimate is 145.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.0.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 153.00 cents and EPS of 217.00 cents.
At the last closing share price the estimated dividend yield is 4.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 227.0, implying annual growth of 11.0%.
Current consensus DPS estimate is 159.5, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 14.4.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $13.00

JP Morgan rates ((NWL)) as Neutral (3) –

JP Morgan reduces its target price for Netwealth Group to $13.00 from $13.80 following a soft 3Q update. Nonetheless, management maintained its FY22 net inflow guidance, which implies to the analyst more than $3.3bn of net inflows for the 4Q.

The broker believes general market weakness compared to prior periods was responsible for negative impacts upon total funds under administration (FUA).

Looking forward, the broker expects 4Q cash margins will be a drag as a new rate agreement takes effect. The Neutral rating is maintained.

This report was published on April 19, 2022.

Target price is $13.00 Current Price is $13.00 Difference: $0
If NWL meets the JP Morgan target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $16.04, suggesting upside of 23.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 19.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 1.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.5, implying annual growth of 4.2%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 55.3.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 23.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 1.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 46.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.2, implying annual growth of 28.5%.
Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 43.0.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

OZL    OZ MINERALS LIMITED

Copper – Overnight Price: $23.64

Shaw and Partners rates ((OZL)) as Hold (3) –

OZ Minerals has experienced a slower start to 2022 amid elevated covid-related challenges. Yet the strong copper price continues to support robust cash flow, Shaw and Partners asserts, during a period of reinvestment.

The broker also points out the company's track record over the past seven years in terms of delivering on guidance has been "best in class". The broker retains a Hold rating with a $3.50 target.

This report was published on April 22, 2022.

Target price is $23.50 Current Price is $23.64 Difference: minus $0.14 (current price is over target).
If OZL meets the Shaw and Partners target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $25.61, suggesting upside of 8.3%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 26.00 cents and EPS of 207.50 cents.
At the last closing share price the estimated dividend yield is 1.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 164.5, implying annual growth of 3.1%.
Current consensus DPS estimate is 27.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 14.4.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 31.00 cents and EPS of 164.00 cents.
At the last closing share price the estimated dividend yield is 1.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 135.4, implying annual growth of -17.7%.
Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 17.5.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PPT    PERPETUAL LIMITED

Wealth Management & Investments – Overnight Price: $31.89

Jarden rates ((PPT)) as Underweight (4) –

Jarden remains cautious on Perpetual despite the update on funds under management balances and fee income being ahead of forecasts. The caution stems from elevated cost growth and concerns about the ability to sustainably turn around flows for Barrow Hanley in the short term.

Outflows of -$1.2 bn were reported in the March quarter, worse than expected. The broker retains an Underweight rating and raises the target to $31.95 from $30.05.

This report was published on April 22, 2022.

Target price is $31.95 Current Price is $31.89 Difference: $0.06
If PPT meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $40.39, suggesting upside of 26.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 212.30 cents and EPS of 254.80 cents.
At the last closing share price the estimated dividend yield is 6.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 264.7, implying annual growth of 96.1%.
Current consensus DPS estimate is 211.0, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 12.0.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 207.80 cents and EPS of 242.00 cents.
At the last closing share price the estimated dividend yield is 6.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 279.0, implying annual growth of 5.4%.
Current consensus DPS estimate is 219.8, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 11.4.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

RBL    REDBUBBLE LIMITED

Software & Services – Overnight Price: $1.17

Jarden rates ((RBL)) as Neutral (3) –

 March quarter trading update revealed slightly better earnings while FY22 guidance is maintained. Marketplace revenue of $384m was down -16% but is broadly in line with Jarden's expectations. The broker is encouraged by the positive trends in repeat purchasing.

The broker adjusts EBITDA margin forecasts for FY22 to -3.6% from -5.1%, consistent with guidance. Neutral rating maintained. Target is reduced to $2.04 from $2.25.

This report was published on April 22, 2022.

Target price is $2.04 Current Price is $1.17 Difference: $0.87
If RBL meets the Jarden target it will return approximately 74% (excluding dividends, fees and charges).
Current consensus price target is $2.30, suggesting upside of 96.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 130.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -4.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SGP    STOCKLAND

Infra & Property Developers – Overnight Price: $4.13

Jarden rates ((SGP)) as Restricted (-1) –

Stockland has reiterated FY22 guidance of 35.1-35.6c and a distribution of 75-80% implying 28.3c at the mid point. There is no change to site settlement targets for FY22 and no change to operating margin expectations.

Jarden is restricted on providing a rating at present.

This report was published on April 26, 2022.

Current Price is $4.13. Target price not assessed.
Current consensus price target is $4.86, suggesting upside of 17.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 27.50 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 6.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 32.6, implying annual growth of -29.7%.
Current consensus DPS estimate is 27.0, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 12.7.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 28.30 cents and EPS of 37.80 cents.
At the last closing share price the estimated dividend yield is 6.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 35.4, implying annual growth of 8.6%.
Current consensus DPS estimate is 29.1, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 11.7.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

STO    SANTOS LIMITED

NatGas – Overnight Price: $7.80

Jarden rates ((STO)) as Overweight (2) –

The first quarter production was broadly in line with estimates although sales revenue missed forecasts because of LNG contract flexibility. Dorado phase1 is now expected to be ready for a final investment decision in the second half.

The revised capital management framework and a US$250m on-market share buyback means the broker awaits updates on asset sales along with the potential for additional buybacks in the second half of 2023.

Overweight rating maintained. Target is reduced to $8.45 from $8.55.

This report was published on April 22, 2022.

Target price is $8.45 Current Price is $7.80 Difference: $0.65
If STO meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $9.86, suggesting upside of 26.3%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 30.50 cents and EPS of 93.68 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.3, implying annual growth of N/A.
Current consensus DPS estimate is 31.6, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 6.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 38.64 cents and EPS of 63.99 cents.
At the last closing share price the estimated dividend yield is 4.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 92.5, implying annual growth of -21.1%.
Current consensus DPS estimate is 28.7, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 8.4.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

WBC    WESTPAC BANKING CORPORATION

Banks – Overnight Price: $23.90

Jarden rates ((WBC)) as Neutral (3) –

Jarden considers the major banks are fair value yet believes, while factored in, there are positive tailwinds for the sector such as rising interest rates and low bad debts. Following recent outperformance, the broker downgrades the sector to Neutral.

The broker anticipates further cost reductions at Westpac albeit at a slower pace compared to the first quarter. First half margins are expected to re-set sharply lower although treasury income should provide support.

The broker considers Westpac has capacity for a $1.5bn buyback but it may wait until the divestment of non-core assets for higher capital return. Neutral rating retained. Target is $24.

This report was published on April 22, 2022.

Target price is $24.00 Current Price is $23.90 Difference: $0.1
If WBC meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $25.44, suggesting upside of 6.5%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 122.00 cents and EPS of 143.00 cents.
At the last closing share price the estimated dividend yield is 5.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 153.9, implying annual growth of 3.0%.
Current consensus DPS estimate is 121.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 15.5.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 129.00 cents and EPS of 182.00 cents.
At the last closing share price the estimated dividend yield is 5.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 188.0, implying annual growth of 22.2%.
Current consensus DPS estimate is 135.5, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.7.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

As part of emerging new trends overseas, The Australian Broker Call *Extra* Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.

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