Daily Market Reports | 10:45 AM
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)
360 BKW CIA COL (2) DDR DTL EDV FSF GPT MTS NDO OBM PME PNR QPM SCG STX TCG VCX WJL WOW (2)
MTS METCASH LIMITED
Food, Beverages & Tobacco - Overnight Price: $3.58
Jarden rates ((MTS)) as Overweight (2) -
Jarden observes the ACCC Interim grocery report with a final report expected on Feb 28, 2025, and does not anticipate any major negative regulatory changes to result.
The analyst does envisage three likely recommendations including a "mandatory price establishment period" before prices can be promoted; rules around land-banking, and improved transparency on suppler engagement.
Jarden remains positive on the grocery sector with a preference for Woolworths Group ((WOW)) over Metcash and Coles Group ((COL)).
The Overweight rating and $4.40 target are maintained for Metcash.
This report was published on September 30, 2024.
Target price is $4.40 Current Price is $3.58 Difference: $0.82
If MTS meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $4.05, suggesting upside of 13.0%(ex-dividends)
The company's fiscal year ends in April.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 21.00 cents and EPS of 27.20 cents.
At the last closing share price the estimated dividend yield is 5.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.9, implying annual growth of 8.2%.
Current consensus DPS estimate is 19.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 12.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 22.00 cents and EPS of 28.90 cents.
At the last closing share price the estimated dividend yield is 6.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.3, implying annual growth of 5.0%.
Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.2.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NDO NIDO EDUCATION LIMITED
Childcare - Overnight Price: $0.86
Canaccord Genuity rates ((NDO)) as Buy (1) -
Canaccord Genuity notes the acquisition of four childcare centres by Nido Education, lifting the total portfolio to 56 centres since its IPO.
The broker expects the acquisition to have a minimal impact on earnings in 2024 post costs. The deal meets the strategic goals of the company.
Canaccord Genuity continues to like Nido Education with a Buy rating and $1.12 target price.
This report was published on September 30, 2024.
Target price is $1.12 Current Price is $0.86 Difference: $0.26
If NDO meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 4.00 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 4.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.36.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 4.00 cents and EPS of 7.30 cents.
At the last closing share price the estimated dividend yield is 4.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.78.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
OBM ORA BANDA MINING LIMITED
Gold & Silver - Overnight Price: $0.62
Moelis rates ((OBM)) as Downgrade to Hold from Buy (3) -
Ora Banda Mining reported FY24 results which showed favourable trading activity over the last 12 months. Moelis notes this is probably due to a higher gold price and a turnaround at Davyhurst.
The analyst believes the commissioning of Sand King in FY25 will enable the business to generate around 150koz p.a. in FY26.
Target price is raised to 66c. Stock rating downgraded to Hold from Buy with a lot of optimism built into the share price at current levels.
This report was published on September 29, 2024.
Target price is $0.66 Current Price is $0.62 Difference: $0.035
If OBM meets the Moelis target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.59.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.10.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
The full story is for FNArena subscribers only. To read the full story plus enjoy a free two-week trial to our service SIGN UP HERE
If you already had your free trial, why not join as a paying subscriber? CLICK HERE