Australian Broker Call *Extra* Edition – Oct 12, 2023

This story features ARGOSY MINERALS LIMITED, and other companies. For more info SHARE ANALYSIS: AGY

An additional news report on the recommendation, valuation, forecast and opinion changes and updates 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)

AGY   APE   BBN   DLI   GQG   LEL   LNW   MFG   NTU   PRN   PTM (2)   RMD   SDF  

AGY    ARGOSY MINERALS LIMITED

New Battery Elements – Overnight Price: $0.18

Canaccord Genuity rates ((AGY)) as Speculative Buy (1) –

Having recently visited Argosy Minerals' Rincon lithium project, Canaccord Genuity has adjusted its expectations around cash flow timing and delayed expectations of first production to the December quarter of 2026.

Environmental permitting for the project is pending, and despite an uncertain timeline, the broker expects progress in coming months. 

Canaccord Genuity also highlighted some infrastructure works have begun at the project, describing camp facilities as "modern and well resourced." It expects this will be critical to attracting and retaining staff in the region.

The Speculative Buy rating is retained and the target price decreases to 70 cents from 80 cents. 

This report was published on October 12, 2023.

Target price is $0.70 Current Price is $0.18 Difference: $0.52
If AGY meets the Canaccord Genuity target it will return approximately 289% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 46.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.39.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 37.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 0.49.

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

APE    EAGERS AUTOMOTIVE LIMITED

Automobiles & Components – Overnight Price: $14.58

Wilsons rates ((APE)) as Market Weight (3) –

Eagers Automotive has entered into a non-binding agreement for the acquisition of a portfolio of dealerships and key strategic properties across Melbourne and the Mornington region.

The purchase price of -$245m comprises -$111m for goodwill, -$100m for property and -$34m for net assets. 

Wilsons points out a "clear desire" from Eagers Automotive to grow through acquisition, and finds the Melbourne metro market a logical target given the current lower market share.

The acquired businesses margins are well below Eagers Automotive's, but leave room for potential upside through improvement. The Market Weight rating and target price of $14.72 are retained. 

This report was published on October 10, 2023.

Target price is $14.72 Current Price is $14.58 Difference: $0.14
If APE meets the Wilsons target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $15.75, suggesting upside of 6.4%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 73.00 cents and EPS of 115.50 cents.
At the last closing share price the estimated dividend yield is 5.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 113.6, implying annual growth of -6.4%.
Current consensus DPS estimate is 73.5, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 13.0.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 77.10 cents and EPS of 116.60 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 12.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 107.2, implying annual growth of -5.6%.
Current consensus DPS estimate is 69.3, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 13.8.

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

BBN    BABY BUNTING GROUP LIMITED

Apparel & Footwear – Overnight Price: $2.01

Wilsons rates ((BBN)) as Overweight (1) –

A trading update at Baby Bunting's annual general demonstarted a -3.3% total sales decline year-on-year, and an -8.5% like-for-like sales decline.

All data points were ahead of Wilsons' expectations, and the broker expects a refreshed strategy update from the new CEO could provide greater investor confidence in medium-term revenue opportunities. 

The company's cost-out program continues to track in line with expectations. The Overweight rating is retained and the target price increases to $2.50 from $2.40.

This report was published on October 11, 2023.

Target price is $2.50 Current Price is $2.01 Difference: $0.49
If BBN meets the Wilsons target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $2.12, suggesting upside of 6.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 9.00 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 4.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.1, implying annual growth of 78.0%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 15.2.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 12.80 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 6.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 22.9%.
Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 12.4.

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

DLI    DELTA LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.69

Canaccord Genuity rates ((DLI)) as Speculative Buy (1) –

Delta Lithium's Mt Ida project continues to positively surprise, with the gold resource far exceeding Canaccord Genuity's expectations at 412,000 ounces at 4.1 grams of gold per tonne.

While Mt Ida was initially purchased as a gold project, Delta Lithium later realised the substantial lithium opportunity at the site. 

The broker anticipates mining approvals and a scoping study in coming months, and early works to start before the end of the calendar year. 

The Speculative Buy rating and target price of $1.20 are retained. 

This report was published on October 11, 2023.

Target price is $1.20 Current Price is $0.69 Difference: $0.51
If DLI meets the Canaccord Genuity target it will return approximately 74% (excluding dividends, fees and charges).

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

GQG    GQG PARTNERS INC

Wealth Management & Investments – Overnight Price: $1.46

Goldman Sachs rates ((GQG)) as No Rating (-1) –

After Goldman Sachs adjusts for weaker-than-expected September quarter funds under management (FUM), largely due to markets, and better-than-expected flows, only minor forecast changes are implemented for GQG Partners.

Management noted overall net inflows in 2023 across the company's four strategies and three distribution channels.

No rating or target was provided by the broker.

This report was published on October 10, 2023.

Current Price is $1.46. Target price not assessed.
Current consensus price target is $2.11, suggesting upside of 45.7%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 13.03 cents and EPS of 13.54 cents.
At the last closing share price the estimated dividend yield is 8.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.4, implying annual growth of N/A.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 9.4%.
Current consensus EPS estimate suggests the PER is 10.1.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 14.22 cents and EPS of 15.05 cents.
At the last closing share price the estimated dividend yield is 9.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.0, implying annual growth of 11.1%.
Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 10.3%.
Current consensus EPS estimate suggests the PER is 9.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

LEL    LITHIUM ENERGY LIMITED

Overnight Price: $0.55

Canaccord Genuity rates ((LEL)) as No Rating (-1) –

Drilling continues at Lithium Energy's Solaroz project, as the company works on narrowing down its resource ahead of its intention to release a scoping study in the December quarter.

As part of ongoing testing, a study has recently confirmed the project is able to utilise traditional evaporation technology, which Canaccord Genuity points out is unsurprising given the same technology is being used at nearby operations. 

Canaccord Genuity points out the company is working to an advanced development plan, which includes progressing engineering and processing studies, pilot testing, brine evaporation and concentration testing, environmental impact studies, and more. 

The broker has not provided a rating or target price. 

This report was published on October 10, 2023.

Current Price is $0.55. Target price not assessed.

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

LNW    LIGHT & WONDER INC

Overnight Price: $114.00

Jarden rates ((LNW)) as Buy (1) –

Press releases from Light & Wonder ahead of the Global Gaming Convention have left Jarden encouraged, namely the announcement of a new licensed title, Squid Game, and a push into the Georgia coin-only amusement machine replacement market. 

Having collaborated with Netflix on the new title, and marking Netflix's first license with the gaming industry, Jarden sees potential for the game to be transformational in attracting a new, younger audience for the company. 

The Buy rating and target price of $136.00 are retained.

This report was published on October 9, 2023.

Target price is $136.00 Current Price is $114.00 Difference: $22
If LNW meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 129.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 88.17.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 359.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.68.

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

MFG    MAGELLAN FINANCIAL GROUP LIMITED

Wealth Management & Investments – Overnight Price: $6.85

Goldman Sachs rates ((MFG)) as Neutral (3) –

Goldman Sachs lowers its target price for Magellan Financial to $7.55 from $10 to reflect markets and ongoing weaker flows, particularly in retail.

Management announced September quarter funds under management (FUM) was $35bn, down from $39.7bn at June 30, exhibiting a weaker trend than the broker had forecast.

The Neutral rating is unchanged given uncertainty around the flow profile, fee margin trajectory and use of surplus capital outside of capital management, explains the broker.

This report was published on October 10, 2023.

Target price is $7.55 Current Price is $6.85 Difference: $0.7
If MFG meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $8.99, suggesting upside of 27.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 52.00 cents and EPS of 75.00 cents.
At the last closing share price the estimated dividend yield is 7.59%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.8, implying annual growth of -22.2%.
Current consensus DPS estimate is 59.9, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 9.1.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 35.80 cents and EPS of 58.10 cents.
At the last closing share price the estimated dividend yield is 5.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 72.0, implying annual growth of -7.5%.
Current consensus DPS estimate is 54.2, implying a prospective dividend yield of 7.7%.
Current consensus EPS estimate suggests the PER is 9.8.

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

NTU    NORTHERN MINERALS LIMITED

Rare Earth Minerals – Overnight Price: $0.03

Canaccord Genuity rates ((NTU)) as Speculative Buy (1) –

Canaccord Genuity has initiated coverage on Northern Minerals, ahead of an intended final investment decision from the company on its Browns Range rare earths project in the first half of 2024. The company is the sole owner of the project, and intends to produce high-grade heavy rare earth concentrate to sell to Iluka Resources ((ILU)).  

While the broker's base case for the project assumes only the Wolverine deposit is mined, the company's near term exploration plans include testing at the Boulder Ridge target. Canaccord Genuity sees strong chances of mine life extension from exploration success. 

The broker initiates coverage with a Speculative Buy and a target price of 3 cents. 

This report was published on October 10, 2023.

Target price is $0.03 Current Price is $0.03 Difference: $0
If NTU meets the Canaccord Genuity target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.00 cents.

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

PRN    PERENTI LIMITED

Mining Sector Contracting – Overnight Price: $1.07

Moelis rates ((PRN)) as No Rating (-1) –

Moelis finds recently won work totaling $510m for Perenti demonstrates encouraging momentum in converting a pipeline.

Work includes a US$235m contract with AMS for open pit mining services over 73 months and a $70m contract with Barminco for underground development and production over 6 months. 

Following a period of research restriction, Moelis resumes coverage with a Buy rating with a target price of $1.35. The broker has also updated its forecasts to include the company's recent acquisition of DDH1 Drilling.

This report was published on October 11, 2023.

Target price is $1.35 Current Price is $1.07 Difference: $0.28
If PRN meets the Moelis target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 1.00 cents and EPS of 17.30 cents.
At the last closing share price the estimated dividend yield is 0.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.18.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 2.00 cents and EPS of 20.50 cents.
At the last closing share price the estimated dividend yield is 1.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.22.

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

PTM    PLATINUM ASSET MANAGEMENT LIMITED

Wealth Management & Investments – Overnight Price: $1.21

Goldman Sachs rates ((PTM)) as Sell (5) –

Apart from a weak market performance in the September quarter, Goldman Sachs also notes Platinum Asset Management's weak flow trajectory with consistent monthly net outflows. 

The recent one-year performance of the core international fund and the Asia fund also remains weak, explain the analysts. September quarter flows were weaker than expected.

Funds under management (FUM) at September 30 was $16.1bn, down from $17.3bn at June 30.

The target falls to $1.14 from $1.50. The Sell rating is retained.

This report was published on October 10, 2023.

Target price is $1.14 Current Price is $1.21 Difference: minus $0.07 (current price is over target).
If PTM meets the Goldman Sachs target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.35, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 13.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 10.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.1, implying annual growth of -14.2%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 10.2%.
Current consensus EPS estimate suggests the PER is 10.1.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 10.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 8.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.8, implying annual growth of -10.7%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 11.3.

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

Jarden expects outflows are likely to persist in the near-term for Platinum Asset Management, particularly given deterioration of the Asian fund. The broker does look forward to the appointment of a new CEO, and a potential strategy refresh as a result.

The company reported outflows totaling -$173m in the September quarter, with funds under management of $16.05bn a -2.6% miss to the broker's anticipated $16.49bn. 

The Underweight rating is retained and the target price decreases to $1.20 from $1.35.

This report was published on October 9, 2023.

Target price is $1.20 Current Price is $1.21 Difference: minus $0.01 (current price is over target).
If PTM 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 $1.35, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 10.20 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 8.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.1, implying annual growth of -14.2%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 10.2%.
Current consensus EPS estimate suggests the PER is 10.1.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 9.00 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 7.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.8, implying annual growth of -10.7%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 11.3.

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

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $23.40

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

As Jarden points out, a dramatic increase in awareness and demand for GLP-1 drugs, initially intended for type 2 diabetes sufferers but in recent months made popular as a weight loss drug, has raised questions around potential impact on sales of ResMed's sleep apnea devices and masks. 

From discussion with key stakeholders in the US, Jarden has determined that as yet there is no sign of impacts on sleep lab referrals, diagnosis rates, CPAP setups or mask replacement. However, the broker expects some impact will emerge, particularly given the role of weight loss in reducing obstructive sleep apnea severity. 

The broker does anticipate it will be several years before an impact can be quantified. The Overweight rating is retained and the target price decreases to $30.33 from $36.10.

This report was published on October 10, 2023.

Target price is $30.33 Current Price is $23.40 Difference: $6.93
If RMD meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $36.89, suggesting upside of 67.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 28.89 cents and EPS of 107.70 cents.
At the last closing share price the estimated dividend yield is 1.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 113.5, implying annual growth of N/A.
Current consensus DPS estimate is 30.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 19.5.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 34.73 cents and EPS of 128.15 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 128.2, implying annual growth of 13.0%.
Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 17.2.

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

SDF    STEADFAST GROUP LIMITED

Insurance – Overnight Price: $5.65

Goldman Sachs rates ((SDF)) as Neutral (3) –

Steadfast Group is set to enter the US market with its completed acquisition of ISU Group, the purchase of which came at a cost of -US$55m.

As Steadfast Group is acquiring an agency network with revenues from member ship fees and profit shares, points out Goldman Sachs, the purchase is expected to be immediately earnings accretive. 

Goldman Sachs is incrementally more positive on the stock for having made first steps into the US market. The broker looks forward to further commentary on incremental revenues. 

The Neutral rating and target price of $5.90 are retained.

This report was published on October 9, 2023.

Target price is $5.90 Current Price is $5.65 Difference: $0.25
If SDF meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.38, suggesting upside of 12.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 17.00 cents and EPS of 23.00 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.5, implying annual growth of 38.1%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 22.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 18.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.5, implying annual growth of 7.8%.
Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 20.7.

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

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