Daily Market Reports | Mar 06 2025
This story features LIFE360 INC, and other companies. For more info SHARE ANALYSIS: 360
The company is included in ASX50, ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH
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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 APE (3) ATA BGL (3) CDP CNI COL (2) CUV CVN CXO DDR (3) DUG EDV FPH FWD GDG (2) IEL (2) KAR (2) MAQ MEK MMI MPL (2) MTO NUC NWH OCL ORA PPM (2) PPT PTM PXA (2) QAN RHC (2) RMD SHJ SLH SNL (2) STX TPG (2) VAU WPR
360 LIFE360 INC
Software & Services – Overnight Price: $22.40
Goldman Sachs rates ((360)) as Buy (1) –
Life360 posted a fourth quarter outcome that exceeded guidance and expectations. Goldman Sachs notes a step up in marketing and investment expenditure, consistent with the company’s conservative approach to setting initial guidance.
FY25 guidance is for revenue of US$450-480m and adjusted EBITDA of US$65-75m. The company has also reaffirmed aspirations for advertising revenue to match subscription revenue over the longer term.
The broker reiterates a Buy rating and raises the target to $27 from $25.
This report was published on February 28, 2025.
Target price is $27.00 Current Price is $22.40 Difference: $4.6
If 360 meets the Goldman Sachs target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $27.16, suggesting upside of 21.3%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 42.81 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 52.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.8, 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 38.1.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 EPS of 64.21 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 56.2, implying annual growth of -4.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 39.8.
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
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components – Overnight Price: $15.01
Jarden rates ((APE)) as Neutral (3) –
Eagers Automotive’s FY24 result was broadly in line with Jarden’s forecasts, so the focus was mainly on revenue guidance for FY25 and margins.
The broker lifted FY25 revenue forecast following the company’s guidance of a $1bn increase over FY24 from recent acquisitions; two months from Victorian Group and Alice Springs Toyota, and 10 months from Norris Group.
The analyst also raised gross profit and profit before tax margin estimates by 40-50bps, though on a y/y basis the profile is mostly flat.
The broker sees upside risks to EPS on brand mix benefits but also cautions about downside risks from election uncertainty, new emission stands and Chinese OEM supply.
Target price is $14.05 and rating is Neutral.
This report was published on February 28, 2025.
Target price is $14.05 Current Price is $15.01 Difference: minus $0.96 (current price is over target).
If APE meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.56, suggesting upside of 4.6%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 81.90 cents and EPS of 100.50 cents.
At the last closing share price the estimated dividend yield is 5.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 100.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 71.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 84.60 cents and EPS of 103.90 cents.
At the last closing share price the estimated dividend yield is 5.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 106.1, implying annual growth of 5.2%.
Current consensus DPS estimate is 71.2, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((APE)) as Hold (3) –
Moelis observes Eagers Automotive’s FY24 result showed a stronger 2H24 in a market where new car volumes fell -5%.
The company guided to a $1bn increase in revenue in FY25 from recent acquisitions, retail JV growth and solid order bank.
The broker notes the company’s order book rose 5% in January vs December which suggests the volume end of the new car market is stable.
In the short term, the broker sees headwinds from Chinese OEMs entry, federal election, PHEV changes and new vehicle efficiency standards which will keep industry-wide gross margins under pressure.
The broker raised FY25-26 EPS by 17-18% on FY25 revenue growth guidance and stabilising gross margin in FY26, following a compression in FY25.
Target price lifts to $15.23 (it was $11.51 in August). Rating retained at Hold.
This report was published on March 2, 2025.
Target price is $11.51 Current Price is $15.01 Difference: minus $3.5 (current price is over target).
If APE meets the Moelis target it will return approximately minus 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.56, suggesting upside of 4.6%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 76.90 cents and EPS of 101.30 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 100.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 71.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 82.60 cents and EPS of 107.00 cents.
At the last closing share price the estimated dividend yield is 5.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 106.1, implying annual growth of 5.2%.
Current consensus DPS estimate is 71.2, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((APE)) as Market Weight (3) –
Eagers Automotive’s FY24 result was better-than-expected by Wilsons, with sales of $11,194m, up 14% year-on-year, although normalised profit (PBT) declined by -17% to $371m.
A modest improvement in margins (when consensus was expecting a decline), aided by disciplined opex control and higher OEM incentives, leads to upward revisions in profit margin forecasts by the broker.
The outlook for FY25 includes an additional $1.0bn in revenue growth, with resilience in the new car market supported by a strong order bank, highlight the analysts.
After raising sales and profit forecasts, the broker’s target price rises to 14.99 from 10.87, reflecting improved margin confidence.
Market Weight rating retained.
This report was published on February 28, 2025.
Target price is $14.99 Current Price is $15.01 Difference: minus $0.02 (current price is over target).
If APE meets the Wilsons target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.56, suggesting upside of 4.6%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 73.70 cents and EPS of 109.10 cents.
At the last closing share price the estimated dividend yield is 4.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 100.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 71.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 80.80 cents and EPS of 119.90 cents.
At the last closing share price the estimated dividend yield is 5.38%.
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 106.1, implying annual growth of 5.2%.
Current consensus DPS estimate is 71.2, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ATA ATTURRA LIMITED
Software & Services – Overnight Price: $0.87
Moelis rates ((ATA)) as Buy (1) –
Moelis notes Atturra’s 1H25 result showed mixed margin performance but the profit is typically weighted to 2H.
The company’s FY25 guidance implied an upgrade to $305-320m from $292m-plus stated earlier, but the broker lowered its forecast by -4.8% from a previous estimate of $322m. EBITDA forecast was also cut to align with the company’s guidance.
The company ended December with over $98m in cash and $39m of undrawn debt which would support its inorganic growth focus, and according to the broker, it will offset potential industry weakness in the near term.
Target price is $1.07 and Buy rating retained.
This report was published on March 3, 2025.
Target price is $1.07 Current Price is $0.87 Difference: $0.2
If ATA meets the Moelis target it will return approximately 23% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 EPS of 4.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.23.
Forecast for FY26:
Moelis forecasts a full year FY26 EPS of 5.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.75.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver – Overnight Price: $1.23
Goldman Sachs rates ((BGL)) as Buy (1) –
Bellevue Gold delivered underlying net profit for the first half that was largely in line with Goldman Sachs. FY25 production guidance remains in line with forecasts.
The broker notes a waiver on the debt performance condition was received in January with no change to the terms of the facility.
While near-term cash flow is affected by accelerating expenditure on development Goldman Sachs envisages yields will return to double digits in FY26 and the stock remains attractive compared with peers.
This supports upside to possible capital returns once the expansion ramps up. Buy rating. Target is $1.50.
This report was published on February 28, 2025.
Target price is $1.50 Current Price is $1.23 Difference: $0.275
If BGL meets the Goldman Sachs target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $1.74, suggesting upside of 34.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.7, implying annual growth of 2.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 16.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.4, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.6.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((BGL)) as Underweight (4) –
Bellevue Gold delivered a first half net profit that was below Jarden’s estimates largely because of higher D&A.
Future capital expenditure matters more in the broker’s view in terms of free cash flow, to develop both the reserves and the balance of inventory.
The company has indicated operating performance was weak in early January and has lowered FY25 guidance to 150-165,000 ounces. Underweight rating. Target edges up to $1.01 from $1.00.
This report was published on February 28, 2025.
Target price is $1.01 Current Price is $1.23 Difference: minus $0.215 (current price is over target).
If BGL meets the Jarden target it will return approximately minus 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.74, suggesting upside of 34.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 5.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.7, implying annual growth of 2.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.4, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.6.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((BGL)) as Hold (3) –
Moelis notes 1H25 was a transitional period for Bellevue Gold as it moves to steady-state operations. This was reflected in the mixed result for 1H where EBITDA beat consensus but there was a big miss at D&A and interest expense lines.
The broker forecasts a significant jump in 2H EBITDA, a sequential rise of 80% over 1H on stage 1 plant expansion. The analyst expects free cash flow to take time, forecasting it around mid-FY28.
Target price of $1.2 and Hold rating are unchanged.
This report was published on March 2, 2025.
Target price is $1.20 Current Price is $1.23 Difference: minus $0.025 (current price is over target).
If BGL meets the Moelis target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.74, suggesting upside of 34.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 EPS of 5.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.7, implying annual growth of 2.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY26:
Moelis forecasts a full year FY26 EPS of 12.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.4, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.6.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CDP CARINDALE PROPERTY TRUST
REITs – Overnight Price: $4.72
Moelis rates ((CDP)) as Buy (1) –
Moelis believes Carindale Property Trust’s 1H25 result showed the resilience of the asset with moving annual turnover rising 1.7% y/y in calendar 2025. Gearing fell slightly to 28.9% due to the dividend reinvestment plan, valuation increase and payout ratio of 78.5%.
The broker considers the REIT to be a standout value investment given its deep discount to NTA, 6.1% distribution yield and strong operating performance.
Target price is $6.21 and rating retained at Buy.
This report was published on March 4, 2025.
Target price is $6.21 Current Price is $4.72 Difference: $1.49
If CDP meets the Moelis target it will return approximately 32% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 27.10 cents and EPS of 35.40 cents.
At the last closing share price the estimated dividend yield is 5.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.33.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 28.50 cents and EPS of 36.10 cents.
At the last closing share price the estimated dividend yield is 6.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.07.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CNI CENTURIA CAPITAL GROUP
Diversified Financials – Overnight Price: $1.56
Jarden rates ((CNI)) as Neutral (3) –
Jarden notes Centuria Capital’s 1H result beat forecasts by 3% but the REIT maintained FY25 guidance, suggesting less earnings skew in 2H on timing issues. The REIT’s gearing is high and cash generation is weak, the broker highlights.
The REIT sees an improved outlook for capital-raising in Australia and New Zealand, particularly across unlisted verticals as investor sentiment improves in an easing rate cycle. Private credit has shown strong growth and the broker estimates AUM to lift to $9.3bn in FY28 from $2.3bn in 1H25.
The broker will be closely watching the execution of three new listed vehicles planned by the end of calendar 2025.
The analyst revised higher FY25 EPS forecast by 0.3% but lowered FY26 by -2.7%. Target price is $1.8 and rating is Neutral.
This report was published on February 27, 2025.
Target price is $1.80 Current Price is $1.56 Difference: $0.235
If CNI meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $1.93, suggesting upside of 21.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 10.40 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 6.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.0, implying annual growth of -5.0%.
Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 13.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 11.10 cents and EPS of 12.80 cents.
At the last closing share price the estimated dividend yield is 7.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.9, implying annual growth of 7.5%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 12.3.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
COL COLES GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $18.89
Goldman Sachs rates ((COL)) as Neutral (3) –
Coles Group’s first-half FY25 result was in line, but Goldman Sachs notes increasing competition and higher costs weighing on earnings.
Revenue grew 4% year-on-year, with earnings (EBIT) rising 2%, though net profit after tax declined -3% due to higher net interest costs.
Food sales growth is expected to moderate in the second half as Woolworths increases investment in price competitiveness.
Earnings before interest and tax forecasts for FY25 to FY27 are tweaked by 2%, -2%, and -2%, reflecting higher depreciation and amortisation costs.
Target price is cut to $19 from $19.50. Neutral rating retained.
This report was published on February 28, 2025.
Target price is $19.00 Current Price is $18.89 Difference: $0.11
If COL meets the Goldman Sachs target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $20.89, suggesting upside of 11.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 65.00 cents and EPS of 80.00 cents.
At the last closing share price the estimated dividend yield is 3.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 83.4, implying annual growth of -0.5%.
Current consensus DPS estimate is 69.1, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 73.00 cents and EPS of 91.00 cents.
At the last closing share price the estimated dividend yield is 3.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.1, implying annual growth of 14.0%.
Current consensus DPS estimate is 77.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 19.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((COL)) as Neutral (3) –
Jarden believes Coles’ 1H25 result was high-quality but retains its preference for Woolworths Group ((WOL)).
The broker notes Coles performed well by easing shrink, cost-cutting, delivering on value and implementing new infrastructure, but the outlook is uncertain with rising costs among the key hurdles.
Competitive response is another key risk, with the broker observing the supermarket lost share to independents in the past 8 weeks.
The analyst raised EBITDA forecasts for FY25-27 but cut net profit forecasts to reflect higher D&A and net interest costs.
Target price rises to $19.5 from $16.9, Neutral rating maintained.
This report was published on February 27, 2025.
Target price is $19.50 Current Price is $18.89 Difference: $0.61
If COL meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $20.89, suggesting upside of 11.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 67.00 cents and EPS of 82.40 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 83.4, implying annual growth of -0.5%.
Current consensus DPS estimate is 69.1, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 76.00 cents and EPS of 93.90 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.1, implying annual growth of 14.0%.
Current consensus DPS estimate is 77.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 19.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CUV CLINUVEL PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $13.03
Wilsons rates ((CUV)) as Overweight (1) –
Clinuvel Pharmaceuticals delivered a first half result that was “pleasing” and exceeded expectations, as Wilsons notes Scenesse supported 10% sales growth and a 29% lift in profit.
The broker believes the results should renew faith in the EPP business, despite would-be competitor Disc Medicine’s attempts to pursue accelerated approval for bitopertin that has recently weighed on Clinuvel Pharmaceuticals’ share price.
Overweight rating and target reduced to $30.00 from $30.16.
This report was published on February 28, 2025.
Target price is $30.00 Current Price is $13.03 Difference: $16.97
If CUV meets the Wilsons target it will return approximately 130% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 6.00 cents and EPS of 72.70 cents.
At the last closing share price the estimated dividend yield is 0.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.92.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 7.00 cents and EPS of 71.50 cents.
At the last closing share price the estimated dividend yield is 0.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.22.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CVN CARNARVON ENERGY LIMITED
Crude Oil – Overnight Price: $0.11
Jarden rates ((CVN)) as Overweight (2) –
Jarden notes Carnarvon’s 1H25 result showed the benefits of corporate cost-cutting, with interest income of $187m as of December 31 exceeding the corporate costs. 1H net profit was broadly in line with the broker’s forecast.
The broker reckons the company’s on-market share buyback announced in January should provide some level of share price support.
Key near-term catalysts are the identification of drilling targets for its major projects and progress in approvals, with the broker noting JV partner for the Dorado field, Santos ((STO)), also stated a desire to drill two gas exploration wells in 2026.
Target price is 16c and rating remains at Overweight.
This report was published on February 28, 2025.
Target price is $0.16 Current Price is $0.11 Difference: $0.05
If CVN meets the Jarden target it will return approximately 45% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.00.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CXO CORE LITHIUM LIMITED
New Battery Elements – Overnight Price: $0.08
Jarden rates ((CXO)) as Sell (5) –
Jarden found little that was new in the first half financials from Core Lithium, noting the December cash position fell below $50m. The plant remains on care and maintenance and no annual costs were provided.
The main basis for a change in rating lays with exploration success, the broker adds, although the current balance sheet should allow the company to participate in meaningful acquisition opportunities.
The legal claim by Tesla remains in early discussions pending a formal claim and no payments are currently expected by the company. Sell rating and 7c target retained.
This report was published on February 28, 2025.
Target price is $0.07 Current Price is $0.08 Difference: minus $0.014 (current price is over target).
If CXO meets the Jarden target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.00.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 14.00.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DDR DICKER DATA LIMITED
Hardware & Equipment – Overnight Price: $8.63
Goldman Sachs rates ((DDR)) as Neutral (3) –
Dicker Data’s full-year 2024 result was in line, with strong fourth-quarter momentum offsetting weakness in the third quarter, Goldman Sachs notes.
Revenue and earnings (EBITDA) were in line with consensus. Software revenue grew 7.5%, supporting recurring revenue at 27% of total sales.
Operating expenses were higher due to an increase in bad debts to $4.3m from $0.7m. Interest costs rose 26% due to higher borrowings and full-year rates, the broker highlights.
Management expects 2025 to benefit from a long-awaited PC refresh cycle, with small-medium sized business sales recovery supporting gross margin expansion to 9.8% -10%.
Goldman Sachs maintains a Neutral rating with a price target of $9.80.
This report was published on February 28, 2025.
Target price is $9.80 Current Price is $8.63 Difference: $1.17
If DDR meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 51.00 cents and EPS of 52.00 cents.
At the last closing share price the estimated dividend yield is 5.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.60.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 56.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 6.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.14.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((DDR)) as Buy (1) –
Jarden notes Dicker Data’s FY24 result showed revenue and profit before tax accelerating in 4Q, supporting its view the company will benefit as the PC refresh cycle advances in FY25.
The broker slightly lowered revenue forecasts after making more moderate revenue growth assumptions for FY25-27 to reflect tougher FY25 comps over 4Q24.
The profit before tax margins were upgraded by 1bp from interest rate cut benefits and lower expense forecasts. Target price rises to $10.88 from $10.60. Buy retained.
This report was published on February 27, 2025.
Target price is $10.88 Current Price is $8.63 Difference: $2.25
If DDR meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 48.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.90.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 53.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.13.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((DDR)) as Overweight (1) –
Dicker Data delivered a softer result but Wilsons was pleased that pre-tax profit only really fell because of higher interest rates. A rebound in both hardware and the SME segment is required for the stock to re-rate, the broker adds.
The company has noted tangible sales from AI-related projects could be a game changer in 2025 and the broker retains a Overweight rating. Target eases back to $11.07 from $11.29.
This report was published on February 28, 2025.
Target price is $11.07 Current Price is $8.63 Difference: $2.44
If DDR meets the Wilsons target it will return approximately 28% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 48.30 cents and EPS of 50.30 cents.
At the last closing share price the estimated dividend yield is 5.60%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.16.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 54.10 cents and EPS of 56.30 cents.
At the last closing share price the estimated dividend yield is 6.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.33.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DUG DUG TECHNOLOGY LIMITED
Cloud services – Overnight Price: $1.17
Wilsons rates ((DUG)) as Overweight (1) –
DUG Technology reported a mixed 1H result, in Wilsons’ view, with revenue down -4% year-on-year and underlying earnings (EBITDA) -26% lower than the previous period.
Despite a tough second quarter, the company secured $13.4m of new awards in January alone, mainly from acoustic and elastic MP-FWI projects, highlight the analysts.
The broker sees growth opportunities from the company’s investments in new regions, particularly the Middle East, and expansion of the Houston data centre.
The target falls by -13% to $1.83. Overweight retained.
This report was published on March 6, 2025.
Target price is $1.83 Current Price is $1.17 Difference: $0.66
If DUG meets the Wilsons target it will return approximately 56% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 6.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 17.46.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 117.00.
Market Sentiment: 1.0
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: $4.20
Jarden rates ((EDV)) as Neutral (3) –
Jarden found the first half result from Endeavour Group weak, lacking a clear strategic plan despite this being a “great” business. The trading update was weaker across retail amid share loss in January owing to supply chain impacts.
The bright spot was hotels which made a strong start to second half sales. The broker retains a Neutral rating, given there are no clear catalysts until a CEO is appointed.
Material opportunity for shareholder value in the medium term is envisaged. Target is reduced to $4.30 from $5.00.
This report was published on February 28, 2025.
Target price is $4.30 Current Price is $4.20 Difference: $0.1
If EDV meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $4.68, suggesting upside of 10.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 19.50 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 4.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.3, implying annual growth of -11.5%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 20.00 cents and EPS of 27.90 cents.
At the last closing share price the estimated dividend yield is 4.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.7, implying annual growth of 9.5%.
Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 15.3.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FPH FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED
Medical Equipment & Devices – Overnight Price: $31.25
Jarden rates ((FPH)) as Underweight (4) –
Jarden notes the latest announcement by US President Trump of a 25% tariff on imports from Mexico to begin April 2.
The broker points to its previous analysis that highlighted a 25% tariff would result in -NZ$100m additional costs for Fisher & Paykel Healthcare.
The broker expects any price increase by the company would need to be substantial and mostly borne by the hospital business, and it would delay margin recovery.
Target price of NZ$30.10 and Underweight rating retained.
This report was published on February 27, 2025.
Current Price is $31.25. Target price not assessed.
Current consensus price target is N/A
The company’s fiscal year ends in March.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 38.73 cents and EPS of 58.50 cents.
At the last closing share price the estimated dividend yield is 1.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 55.0, implying annual growth of N/A.
Current consensus DPS estimate is 42.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 56.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 41.92 cents and EPS of 69.35 cents.
At the last closing share price the estimated dividend yield is 1.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 66.0, implying annual growth of 20.0%.
Current consensus DPS estimate is 47.4, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 47.0.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FWD FLEETWOOD LIMITED
Infra & Property Developers – Overnight Price: $2.36
Moelis rates ((FWD)) as Buy (1) –
Fleetwood Corp’s 1H25 result was strong with EBIT and net profit well above Moelis’ forecast, driven by a strong performance from the Building Solutions segment.
Community Solutions continued its strong momentum, with utilisation at Searipple expected to be 80% in FY25 on additional demand.
RV Solutions business was subdued. The company brought forward the 15% goal for ROCE in Building Solutions to FY25, with the business showing significant improvement in EBIT margin.
The broker raised FY25 EPS forecast by 32% and FY26 by 2%. Target price rises to $2.57 (was $2.20 in October). Buy retained.
This report was published on March 2, 2025.
Target price is $2.57 Current Price is $2.36 Difference: $0.21
If FWD meets the Moelis target it will return approximately 9% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 26.10 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 11.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.43.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 29.70 cents and EPS of 29.70 cents.
At the last closing share price the estimated dividend yield is 12.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.95.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GDG GENERATION DEVELOPMENT GROUP LIMITED
Wealth Management & Investments – Overnight Price: $5.02
Moelis rates ((GDG)) as No Rating (-1) –
Moelis notes Generation Development achieved record sales of $460m in investment bonds in 1H25 and continues to dominate the investment bonds market with a 52% market share. Underlying profit after tax came in at $12.4m, up 152% y/y.
The company didn’t provide formal guidance for FY25 but pointed to strong sales growth for Generation Life and structural shifts in wealth management to drive managed accounts growth. The company will also focus on operational optimisation following the Evidentia acquisition.
The broker is currently restricted on the company after being appointed as a joint-lead manager for its equity raising. No rating or target price.
This report was published on March 2, 2025.
Current Price is $5.02. Target price not assessed.
Current consensus price target is $5.62, suggesting upside of 12.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 3.20 cents and EPS of 8.00 cents.
At the last closing share price the estimated dividend yield is 0.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 62.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.1, implying annual growth of 172.7%.
Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 61.5.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.30 cents and EPS of 10.80 cents.
At the last closing share price the estimated dividend yield is 0.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 46.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.8, implying annual growth of 45.7%.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 42.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Petra Capital rates ((GDG)) as Upgrade to Buy from Hold (1) –
Generation Development’s half year result exceeded expectations, with strong revenue and (earnings) EBITDA growth in the Lonsec division, Petra Capital notes.
Revenue rose 23% and underlying net profit after tax advanced 50% to $12.4m. Genlife’s revenue margin improved, with bonds written trending significantly higher on an annualised basis.
Active independent financial advisers transacting with Genlife increased 16% year-on-year, and new investment bonds grew 42%.
Lonsec’s eanrings margin expanded to 42% from 38%, driven by higher LIS margins and stronger research division performance, the broker explains.
Petra Capital expects a higher dividend payout ratio from FY26, supported by the retirement of Lonsec debt and the achievement of earnout targets.
Target price rises $5.58 from $5.18, with a rating upgraded to Buy from Hold.
This report was published on March 3, 2025.
Target price is $5.58 Current Price is $5.02 Difference: $0.56
If GDG meets the Petra Capital target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $5.62, suggesting upside of 12.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 2.00 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 0.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 57.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.1, implying annual growth of 172.7%.
Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 61.5.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 3.70 cents and EPS of 12.50 cents.
At the last closing share price the estimated dividend yield is 0.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.8, implying annual growth of 45.7%.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 42.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IEL IDP EDUCATION LIMITED
Education & Tuition – Overnight Price: $9.45
Goldman Sachs rates ((IEL)) as Downgrade to Neutral from Buy (3) –
IDP Education’s first-half FY25 result missed expectations, with industry headwinds and political uncertainty weighing on earnings, Goldman Sachs notes.
Revenue, EBIT, and NPAT fell short of consensus by -4%, -11%, and -15%, respectively, as weaker International English Language Testing Systems (IELTS) and student placement volumes offset price increases.
IELTS revenue declined -22%, with India volumes down -55%, while student placement revenue fell -15%, with significant declines in Canada, Australia, and the UK. Cost management helped offset some margin pressure, with overheads reduced by -9%.
Goldman Sachs lowers its FY25 to FY27 net profit after tax forecasts by -17%, -10%, and -6%, citing lower volume and margin expectations.
Target price drops to $11.10 from $19.00. Goldman Sachs downgrades the stock to Neutral from Buy.
This report was published on February 28, 2025.
Target price is $11.10 Current Price is $9.45 Difference: $1.65
If IEL meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $15.63, suggesting upside of 65.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 23.00 cents and EPS of 39.00 cents.
At the last closing share price the estimated dividend yield is 2.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.1, implying annual growth of -15.9%.
Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 30.00 cents and EPS of 50.00 cents.
At the last closing share price the estimated dividend yield is 3.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.5, implying annual growth of 23.4%.
Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 19.0.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((IEL)) as Overweight (2) –
IDP Education’s 1H25 adjusted EPS missed Jarden’s forecast by -2% but was -15% below consensus.
The company lowered guidance for total international student market volumes for FY25 to -20-30% but this implies 2H contraction of around -14%, given 1H likely declined by -32%, the broker estimates.
The broker believes volume weakness has troughed and expects improved policy settings in Australia and Canada to drive volume recovery.
The broker lowered the FY25 EPS forecast by -18% and FY26 by -10% after lowering student placement volumes, partly offset by increases in average fee estimates and lower underlying overhead costs.
Target price cut to $17.35 from $19.10. Overweight maintained.
This report was published on February 28, 2025.
Target price is $17.35 Current Price is $9.45 Difference: $7.9
If IEL meets the Jarden target it will return approximately 84% (excluding dividends, fees and charges).
Current consensus price target is $15.63, suggesting upside of 65.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 16.60 cents and EPS of 38.40 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 24.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.1, implying annual growth of -15.9%.
Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 21.30 cents and EPS of 49.30 cents.
At the last closing share price the estimated dividend yield is 2.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.5, implying annual growth of 23.4%.
Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 19.0.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
KAR KAROON ENERGY LIMITED
Crude Oil – Overnight Price: $1.53
Jarden rates ((KAR)) as Buy (1) –
Karoon Energy announced an agreement to purchase a floating production storage and offloading (FPSO) vessel at a price below Jarden’s expectation.
The company also stated M&A plans are on the back burner, with the current focus on operating the FPSO and pursuing organic growth opportunities.
The broker’s valuation has increased by 8c after incorporating the FPSO into its forecasts. The analyst expects the company to restart its US$50m share buyback and follow it up with another US$75m buyback.
The FY24 headline result and dividend beat the broker’s forecast. Target price rises to $2.05 from $1.95. Buy rating remains.
This report was published on February 28, 2025.
Target price is $2.05 Current Price is $1.53 Difference: $0.515
If KAR meets the Jarden target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $2.23, suggesting upside of 47.7%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 6.57 cents and EPS of 24.61 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.6, implying annual growth of N/A.
Current consensus DPS estimate is 7.4, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 6.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 7.80 cents and EPS of 31.04 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of 11.9%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 5.7.
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
Wilsons rates ((KAR)) as Overweight (1) –
Karoon Energy has acquired the production facility that was leased at the Bauna oilfield.
Wilsons assesses the price paid was reasonable and there is now potential to substantially improve operating performance. This is considered a pivotal transaction for the company.
The broker believes the stock is undervalued, as the FPSO acquisition is a strategic asset and secures a facility for the life of the Bauna field, pushing out decommissioning costs and giving the company control over the asset.
Overweight. Target rises to $2.04 from $1.85.
This report was published on February 28, 2025.
Target price is $2.04 Current Price is $1.53 Difference: $0.505
If KAR meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $2.23, suggesting upside of 47.7%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 8.26 cents and EPS of 26.45 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.6, implying annual growth of N/A.
Current consensus DPS estimate is 7.4, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 6.4.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 11.31 cents and EPS of 37.92 cents.
At the last closing share price the estimated dividend yield is 7.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of 11.9%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 5.7.
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
MAQ MACQUARIE TECHNOLOGY GROUP LIMITED
Telecommunication – Overnight Price: $68.36
Goldman Sachs rates ((MAQ)) as Neutral (3) –
Macquarie Technology Group’s first-half FY25 result was solid, but Goldman Sachs highlights ongoing headwinds in cloud services.
Data centre revenue growth remained strong, driven by pricing escalators and increased capacity, with IC3W capacity rising by 2MW to 47MW .
The company reaffirmed plans to acquire a new North Sydney campus, supported by $542m in available liquidity. However, cloud services revenue headwinds are expected to persist into FY26, with revenue growth forecasts lowered to 5% from 7%, the analyst explains.
Goldman Sachs revises FY25 to FY27 earnings (EBITDA) estimates up by 1% to 5%, but EPS forecasts are lowered by up to -20% due to higher depreciation and interest costs.
The price target is reduced to $80 from $85, reflecting a lower data centre valuation multiple. Neutral rating unchanged.
This report was published on February 28, 2025.
Target price is $80.00 Current Price is $68.36 Difference: $11.64
If MAQ meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 140.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.83.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 127.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.83.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MEK MEEKA METALS LIMITED
Gold & Silver – Overnight Price: $0.13
Petra Capital rates ((MEK)) as Buy (1) –
Meeka Metals’ Murchison gold project remains on track for first production in mid-2025, with development progressing on schedule and on budget, Petra Capital notes.
The carbon-in-leach plant expansion is advancing, with key infrastructure installations completed, including the final 145m CIL tank and cyanide storage facilities, the analyst explains.
Open-pit mining at St Anne’s has begun ahead of schedule, with first ore expected to be hauled in April. Gold production for the September quarter is forecast at 5.2koz, with full-year FY26 production estimated at 46koz at an all-in-sustaining-cots of $1,944/oz.
Petra Capital sees potential for early grade upside from high-grade intercepts at St Anne’s and Turnberry.
The broker maintains a buy rating with an unchanged price target of $0.14.
This report was published on March 3, 2025.
Target price is $0.14 Current Price is $0.13 Difference: $0.01
If MEK meets the Petra Capital target it will return approximately 8% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 65.00.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.51.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MMI METRO MINING LIMITED
Coal – Overnight Price: $0.05
Petra Capital rates ((MMI)) as Buy (1) –
Petra Capital highlights Metro Mining’s 2024 result was strong, with adjusted earnings (EBITDA) rising 87% to $40.8m, though headline losses were impacted by forex adjustments, the analyst explains.
Bauxite sales grew 24% to 5.7m wet metric tonnes, driving net operational cash flow up 143% to $20.2m.
The company expects further economies of scale in 2025, with shipment guidance of 6.5 to 7.0m tonnes.
Petra Capital forecasts higher bauxite prices and increased production are forecast to boost 2025 earnings (EBITDA) to $196m, up 380%.
Buy rating retained, with the price target slightly reduced to 13c from 13.1c, reflecting minor valuation adjustments.
This report was published on March 3, 2025.
Target price is $0.13 Current Price is $0.05 Difference: $0.076
If MMI meets the Petra Capital target it will return approximately 141% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.08.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 1.00 cents and EPS of 2.00 cents.
At the last closing share price the estimated dividend yield is 18.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 2.70.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MPL MEDIBANK PRIVATE LIMITED
Insurance – Overnight Price: $4.44
Goldman Sachs rates ((MPL)) as Neutral (3) –
Medibank Private’s first-half FY25 result beat expectations, with strong health insurance performance driving higher margins, Goldman Sachs notes.
Operating profit reached $360m, 4% ahead of Goldman Sachs’ estimate, while net profit after of $299m exceeded consensus of $282m.
The underlying health insurance margin improved 40 basis points to 8.5%, supported by favourable claims trends and approved rate increases.
Resident policyholder growth was below system growth by -1%, but is expected to align in the second half, aided by retention initiatives.
Goldman Sachs raises outer-year earnings forecasts by 8% but remains Neutral on the stock, citing valuation and policyholder growth challenges.
Target increases to $4.40 from $4.00.
This report was published on February 28, 2025.
Target price is $4.40 Current Price is $4.44 Difference: minus $0.04 (current price is over target).
If MPL meets the Goldman Sachs target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.60, suggesting upside of 5.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 18.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.5, implying annual growth of 25.8%.
Current consensus DPS estimate is 17.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 19.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.5, implying annual growth of 4.4%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 18.5.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((MPL)) as Neutral (3) –
Medibank Private’s 1H25 underlying net profit beat Jarden’s forecast by 5% on strong results from health insurance. Net margin was 40bps higher at 8.5% vs the broker’s forecast.
The broker sees headwinds from NSW bed levy and hospital indexation, but forecasts margin jaws to remain positive with the 2025 premium rate announcement of a 3.99% increase helping the FY26 outlook.
The broker estimates FY25 net margin of 8.9% vs 8.8% in FY24 FY25 EPS forecast cut by -0.4% but FY26 lifted by 5.2%. Target price is $4.40 and rating maintained at Neutral.
This report was published on February 27, 2025.
Target price is $4.40 Current Price is $4.44 Difference: minus $0.04 (current price is over target).
If MPL 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 $4.60, suggesting upside of 5.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 17.50 cents and EPS of 19.50 cents.
At the last closing share price the estimated dividend yield is 3.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.5, implying annual growth of 25.8%.
Current consensus DPS estimate is 17.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 19.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 18.70 cents and EPS of 23.10 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.5, implying annual growth of 4.4%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 18.5.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MTO MOTORCYCLE HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $1.99
Wilsons rates ((MTO)) as Market Weight (3) –
Motorcycle Holdings’ first-half FY25 result outperformed expectations, with net profit after tax rising 37% despite a challenging industry backdrop, Wilsons notes.
Revenue grew 12% with gross profit up 10%, though the margin declined to 25.2%. Operating cash flow of $27m improved significantly due to reduced working capital. Net debt, excluding bailment finance, fell -44% to $24m, ahead of forecasts, the broker highlights.
Management remains cautiously optimistic for the second half, focusing on cost control, used motorcycle sales growth, and eCommerce expansion.
Wilsons raises the target to $2.01 from $1.47, reflecting higher forecasts and a valuation multiple increase. Market Weight rated.
This report was published on March 3, 2025.
Target price is $2.01 Current Price is $1.99 Difference: $0.02
If MTO meets the Wilsons target it will return approximately 1% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 16.00 cents and EPS of 25.90 cents.
At the last closing share price the estimated dividend yield is 8.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.68.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 17.80 cents and EPS of 28.20 cents.
At the last closing share price the estimated dividend yield is 8.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.06.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NUC NUCHEV PTY LIMITED
Dairy – Overnight Price: $0.14
Wilsons rates ((NUC)) as Market Weight (3) –
Nuchev Pty first-half FY25 result showed a significant improvement in earnings (EBITDA), though sales were below expectations, Wilsons explains.
Revenue grew to $11.1m, driven by a $4.8m contribution from the bWellness acquisition, while Oli6 sales declined -6% due to a prior-year pipeline fill.
Earnings (EBITDA) loss improved to -$1.3m from -$3.2m, benefiting from higher margins and cost efficiencies. Net cash declined to $5.0m from $7.6m.
The analyst lowers sales growth forecast by -8 to 18% but raises gross margin expectations, leading to improved earnings (EBITDA) forecasts.
Target price is cut to 14c from 16c, reflecting a lower valuation multiple. Market Weight rating maintained.
This report was published on March 3, 2025.
Target price is $0.14 Current Price is $0.14 Difference: minus $0.005 (current price is over target).
If NUC meets the Wilsons target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.08.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 36.25.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NWH NRW HOLDINGS LIMITED
Mining Sector Contracting – Overnight Price: $2.86
Moelis rates ((NWH)) as Buy (1) –
Moelis notes NRW Holdings’ reiteration of FY25 EBITA range implies 2H25 EBITA of $113m at 7.1% margin, an improvement over 1H margin of 5.9%.
The company notes 1H25 net profit was affected by higher D&A, and net debt rose to support HSE mining fleet acquisition and for working capital.
The broker revised FY25 and FY26 EPS forecasts by -3% and -1% respectively after accounting for higher D&A and interest expense on higher debt.
The broker sees upside from continued Civil and MET segment margin improvements, and improved civil utilisation. Downside risk is from $113m exposure to OneSteel. Target price cut to $3.56 from $3.91, and Buy retained.
This report was published on March 3, 2025.
Target price is $3.56 Current Price is $2.86 Difference: $0.7
If NWH meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $3.45, suggesting upside of 20.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 14.00 cents and EPS of 27.60 cents.
At the last closing share price the estimated dividend yield is 4.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.5, implying annual growth of 18.8%.
Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 10.4.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 14.00 cents and EPS of 28.80 cents.
At the last closing share price the estimated dividend yield is 4.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.9, implying annual growth of 8.7%.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 9.6.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OCL OBJECTIVE CORPORATION LIMITED
IT & Support – Overnight Price: $14.88
Goldman Sachs rates ((OCL)) as Neutral (3) –
Objective Corporation’s first-half FY25 result was in line, but Goldman Sachs sees a significant second-half uplift needed to meet full-year targets.
Revenue, EBITDA, and NPAT rose 6%, 8%, and 4% year-on-year, respectively, with earnings (EBITDA) 9% ahead of the analyst’s estimates.
Key positives include $4.5m in additional annual recurring revenue and potential customer migrations to Nexus, which could provide a 1.5 to 2 times uplift.
First-half annual recurring revenue growth of 10% was below the 15% full-year target, with contract delays impacting performance. Headwinds persist in New Zealand due to macroeconomic and regulatory challenges.
Goldman Sachs raises its price target to $14.10 from $13.70, citing improved earnings forecasts. Neutral rating retained.
This report was published on February 28, 2025.
Target price is $14.10 Current Price is $14.88 Difference: minus $0.78 (current price is over target).
If OCL meets the Goldman Sachs target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $16.08, suggesting upside of 10.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 14.00 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 0.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 39.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 36.0, implying annual growth of 9.4%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 40.6.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 16.00 cents and EPS of 39.00 cents.
At the last closing share price the estimated dividend yield is 1.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.9, implying annual growth of 8.1%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 37.6.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ORA ORORA LIMITED
Paper & Packaging – Overnight Price: $2.05
Goldman Sachs rates ((ORA)) as Neutral (3) –
Goldman Sachs adjusts its FY25 estimates for Orora to remove the first half OPS contribution from underlying earnings and treat this as a significant item. The business was divested in December.
As a result, underlying net profit estimates decline by -29% but there is no change to statutory forecasts. The broker retains a Neutral rating and $2.40 target.
This report was published on February 28, 2025.
Target price is $2.40 Current Price is $2.05 Difference: $0.35
If ORA meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $2.45, suggesting upside of 18.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 EPS of 12.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.9, implying annual growth of -19.8%.
Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 17.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 EPS of 15.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.5, implying annual growth of 21.8%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PPM PEPPER MONEY LIMITED
Business & Consumer Credit – Overnight Price: $1.53
Goldman Sachs rates ((PPM)) as Buy (1) –
Pepper Money’s 2024 result showed improving net interest margins and strong whole loan sales, Goldman Sachs notes.
Net interest margin rose 12 basis points year-on-year to 1.97%, with an exit rate of 2.08%. Whole loan sales gains more than doubled to $2.2bn in the second half, supporting a shift in mortgage assets under management into servicing assets under management.
Loan loss expense of -$69.3m was below the broker’s forecast, reflecting strong asset quality.
Goldman Sachs raises FY25 and FY26 EPS forecasts by 5% and 12%, respectively, driven by higher net interest margins and lower loan losses.
The price target increases to $1.63 from $1.55. Buy rated.
This report was published on February 28, 2025.
Target price is $1.63 Current Price is $1.53 Difference: $0.095
If PPM meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 15.00 cents and EPS of 25.00 cents.
At the last closing share price the estimated dividend yield is 9.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.14.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 18.00 cents and EPS of 29.00 cents.
At the last closing share price the estimated dividend yield is 11.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.29.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((PPM)) as Overweight (2) –
Jarden notes Pepper Money’s 1H25 profit beat its forecast, partly due to lower bad debt losses. The result also showed improving credit quality and small net interest margin expansion.
The broker lifted the FY25 EPS forecast by 5% on lower loan losses but lowered FY26 by -4% on reduced revenue from loan sales undertaken in 1H25.
Target price lifts to $1.65 from $1.60. Overweight maintained.
This report was published on February 27, 2025.
Target price is $1.65 Current Price is $1.53 Difference: $0.115
If PPM meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 12.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 7.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.04.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 12.00 cents and EPS of 25.20 cents.
At the last closing share price the estimated dividend yield is 7.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.09.
Market Sentiment: 1.0
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: $19.00
Jarden rates ((PPT)) as Overweight (2) –
Perpetual Ltd’s 1H25 result was broadly in line with Jarden’s forecast with underlying EPS beating by 3% and operating costs coming in line. The broker highlights the company showed good progress in cost simplification.
The company’s current cost-out plan will lower the cost-to-income ratio to 74% by FY28 vs 79% in FY25, the broker estimates.
The analyst believes there may be scope for further cost-outs and if this is reduced to levels comparable with global peers, it would mean a 20% upside to FY28 EPS.
Target price rises to $25.30 from $24.05. Overweight maintained.
This report was published on February 27, 2025.
Target price is $25.30 Current Price is $19.00 Difference: $6.3
If PPT meets the Jarden target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $23.43, suggesting upside of 21.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 117.40 cents and EPS of 167.90 cents.
At the last closing share price the estimated dividend yield is 6.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 180.6, implying annual growth of N/A.
Current consensus DPS estimate is 125.8, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 10.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 137.10 cents and EPS of 181.30 cents.
At the last closing share price the estimated dividend yield is 7.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 194.0, implying annual growth of 7.4%.
Current consensus DPS estimate is 137.5, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 9.9.
Market Sentiment: 0.6
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: $0.58
Jarden rates ((PTM)) as Neutral (3) –
PM Capital has made a non-binding indicative proposal for Platinum Asset Management’s listed investment companies, Platinum Capital ((PMC)) and Platinum Asia Investment ((PAI)).
Jarden estimates the risk to management fees could be around -8-9%, implying potential EPS headwinds of -21%, should the boards of both investment companies consider the offers are in the best interest of shareholders. Neutral and $0.69 target.
This report was published on March 1, 2025.
Target price is $0.69 Current Price is $0.58 Difference: $0.11
If PTM meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 24.70 cents and EPS of 6.00 cents.
At the last closing share price the estimated dividend yield is 42.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.67.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 4.70 cents and EPS of 4.80 cents.
At the last closing share price the estimated dividend yield is 8.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.08.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PXA PEXA GROUP LIMITED
Real Estate – Overnight Price: $11.40
Goldman Sachs rates ((PXA)) as Buy (1) –
Pexa Group provided a first half result that appears to be running ahead of FY25 guidance, with exchange EBITDA margins at 56.3% that drove group margins to 35.9%.
Given the better operating leverage to the Australian business, Goldman Sachs revises its estimates for FY25 EBITDA up by 2%. Buy rating maintained with the target lowered -8% to $14.50.
This report was published on February 28, 2025.
Target price is $14.50 Current Price is $11.40 Difference: $3.1
If PXA meets the Goldman Sachs target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $15.35, suggesting upside of 32.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 380.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.8, 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 199.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 41.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.0, implying annual growth of 589.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 29.0.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((PXA)) as Neutral (3) –
Pexa Group posted a “robust” first half result and there were few surprises. Adjusted EPS was ahead of Jarden’s estimates. There were some delays in international and Bank of England (BoE) test lots have been pushed back by three months.
The broker retains a Neutral rating with the potential for a re-rating still there amidst signs lenders are formalising commitments more rapidly. Target is raised to $15.55 from $15.30.
This report was published on February 28, 2025.
Target price is $15.55 Current Price is $11.40 Difference: $4.15
If PXA meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $15.35, suggesting upside of 32.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5700.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.8, 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 199.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 17.40 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 1.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.0, implying annual growth of 589.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 29.0.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QAN QANTAS AIRWAYS LIMITED
Transportation & Logistics – Overnight Price: $10.19
Jarden rates ((QAN)) as Overweight (2) –
Jarden notes the highlight of Qantas Airways’ 1H25 result was the resumption of dividends for the first time since covid.
While this was largely expected, the broker notes the dividend mix could attract a new investor base, and more franked special dividends and share buybacks could happen.
The airline’s 1H25 underlying profit forecast was slightly ahead of consensus and the broker is forecasting an FY25 underlying profit of $2.37bn vs consensus of $2.35bn.
The broker hasn’t accounted for earnings contribution from FY27 from Project Sunrise and will do so after further analysis.
Target price is $9.75 and rating is Overweight.
This report was published on February 28, 2025.
Target price is $9.75 Current Price is $10.19 Difference: minus $0.44 (current price is over target).
If QAN meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.91, suggesting downside of -0.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 33.20 cents and EPS of 108.20 cents.
At the last closing share price the estimated dividend yield is 3.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.9, implying annual growth of 43.4%.
Current consensus DPS estimate is 49.0, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 9.2.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 34.30 cents and EPS of 116.40 cents.
At the last closing share price the estimated dividend yield is 3.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 115.5, implying annual growth of 6.1%.
Current consensus DPS estimate is 44.9, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 8.6.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RHC RAMSAY HEALTH CARE LIMITED
Healthcare services – Overnight Price: $34.22
Jarden rates ((RHC)) as Neutral (3) –
Jarden was “relieved” with the first half result from Ramsay Health Care with EBIT only slightly missing estimates.
Ramsay Sante has been named as the focus of a strategic review and, if divestment is possible, this should represent a significant catalyst, the broker assesses.
Jarden retains a Neutral rating and reduces the target to $44.44 from $48.22.
This report was published on February 28, 2025.
Target price is $44.44 Current Price is $34.22 Difference: $10.22
If RHC meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $39.67, suggesting upside of 15.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 75.80 cents and EPS of 124.80 cents.
At the last closing share price the estimated dividend yield is 2.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 125.0, implying annual growth of -67.2%.
Current consensus DPS estimate is 70.4, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 27.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 87.00 cents and EPS of 143.40 cents.
At the last closing share price the estimated dividend yield is 2.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 158.1, implying annual growth of 26.5%.
Current consensus DPS estimate is 98.4, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 21.7.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((RHC)) as Market Weight (3) –
Wilsons notes Ramsay Health Care’s 1H25 result was in line and activity levels held well, but capex investments were subdued which the broker sees as a troubling signal.
The broker made modest revisions having already cut the margin outlook in FY24. The additional change was to pull back upside from brownfield given the lower capex rate.
The broker believes the immediate challenge remains about extracting price increases to match costs, which means the ROIC and incremental margin from growth capex is not there.
Target price is $38.5 and rating remains at Market Weight.
This report was published on February 28, 2025.
Target price is $38.50 Current Price is $34.22 Difference: $4.28
If RHC meets the Wilsons target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $39.67, suggesting upside of 15.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 83.00 cents and EPS of 134.30 cents.
At the last closing share price the estimated dividend yield is 2.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 125.0, implying annual growth of -67.2%.
Current consensus DPS estimate is 70.4, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 27.5.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 101.80 cents and EPS of 162.10 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 158.1, implying annual growth of 26.5%.
Current consensus DPS estimate is 98.4, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 21.7.
Market Sentiment: 0.0
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: $36.92
Goldman Sachs rates ((RMD)) as Buy (1) –
Goldman Sachs notes further evidence has emerged of ResMed’s ability to grow market share and lift prices.
US home medical equipment provider Adapthealth, which purchases its devices from manufacturers such as ResMed, has grown its sleep market share to around 20%.
The broker retains a forecast of 11% FY26 group revenue growth and a Buy rating and $49 target for ResMed.
This report was published on February 28, 2025.
Target price is $49.00 Current Price is $36.92 Difference: $12.08
If RMD meets the Goldman Sachs target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $44.38, suggesting upside of 24.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 32.11 cents and EPS of 145.24 cents.
At the last closing share price the estimated dividend yield is 0.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 149.9, implying annual growth of N/A.
Current consensus DPS estimate is 34.4, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 23.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 39.75 cents and EPS of 163.58 cents.
At the last closing share price the estimated dividend yield is 1.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 164.3, implying annual growth of 9.6%.
Current consensus DPS estimate is 37.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 21.7.
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
SHJ SHINE JUSTICE LIMITED
Legal – Overnight Price: $0.68
Moelis rates ((SHJ)) as Buy (1) –
Moelis notes Shine Justice’s 1H25 result was softer than expected but thinks the business is well-placed for growth in the 2H and FY26 following initiatives in FY24.
Personal injury contributed 80% of revenue growth in 1H but short-term work-in-progress constraints had a $5m impact to EBITDA. The law firm is planning further expansion in personal injury and also pursuing geographic expansion.
The broker lowered net profit forecasts for FY25 and FY26 by -49% and -22% respectively. Target price is 81c (was 93c in September).
Buy rating retained.
This report was published on March 3, 2025.
Target price is $0.81 Current Price is $0.68 Difference: $0.135
If SHJ meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 4.10 cents and EPS of 5.10 cents.
At the last closing share price the estimated dividend yield is 6.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.24.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.90 cents and EPS of 7.90 cents.
At the last closing share price the estimated dividend yield is 7.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.54.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SLH SILK LOGISTICS HOLDINGS LIMITED
Transportation & Logistics – Overnight Price: $2.04
Moelis rates ((SLH)) as Hold (3) –
Moelis notes Silk Logistics’ 1H25 revenue growth of 4.1% y/y was underpinned by new business wins, expanding bulk logistics offerings and a rise in recurring revenue. However, margins were hurt by cost growth with EBIT down -14.3% y/y.
The scheme meeting for Silk Logistics’ binding Scheme Implementation Deed with DP World Australia is postponed to March 28 from March 7. Court hearing is expected on April 1 and the implementation date is April 14.
Hold rating and $2.14 target price are unchanged.
This report was published on March 3, 2025.
Target price is $2.14 Current Price is $2.04 Difference: $0.1
If SLH meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 2.70 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 1.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.00.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 4.50 cents and EPS of 14.90 cents.
At the last closing share price the estimated dividend yield is 2.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.69.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SNL SUPPLY NETWORK LIMITED
Automobiles & Components – Overnight Price: $35.01
Goldman Sachs rates ((SNL)) as Buy (1) –
Supply Network delivered a first half result that was in line with the pre-release. Goldman Sachs finds the long-term outlook positive given management’s FY28 revenue target of $450m, suspected to be conservative.
The company is expected to reach its previous three-year target for FY26 revenue of $350m in FY25. Goldman Sachs retains a Buy rating and $34.20 target.
This report was published on February 28, 2025.
Target price is $34.20 Current Price is $35.01 Difference: minus $0.81 (current price is over target).
If SNL meets the Goldman Sachs target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 65.00 cents and EPS of 94.00 cents.
At the last closing share price the estimated dividend yield is 1.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.24.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 77.00 cents and EPS of 110.00 cents.
At the last closing share price the estimated dividend yield is 2.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.83.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((SNL)) as Buy (1) –
No headline surprises from Supply Network’s 1H25 result as it was pre-reported, Moelis notes, so the highlight was the company commencing work on its 3-year plan one year early to increase revenue to $450m by FY28.
The company now expects to achieve $350m revenue in FY25 (previously FY26).
The broker believes higher gross profit margins achieved in 1H will be sustainable, with upside risk from improved sourcing which it has not factored beyond FY25.
In the 2H, however, the broker expects small margin compression vs 1H due to higher operating expenses to support growth.
Target price lifts to $39.10 (was $30.50 in September). Buy retained.
This report was published on March 2, 2025.
Target price is $39.10 Current Price is $35.01 Difference: $4.09
If SNL meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 65.90 cents and EPS of 94.00 cents.
At the last closing share price the estimated dividend yield is 1.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.24.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 74.50 cents and EPS of 106.40 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.90.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
STX STRIKE ENERGY LIMITED
NatGas – Overnight Price: $0.18
Wilsons rates ((STX)) as Overweight (1) –
Strike Energy’s first-half FY25 result was in line, but Wilsons highlights uncertainty around Walyering production and strategic direction.
Revenue reached $35.8m from 4.66 petajoules of gas and condensate, with production costs at $0.63 per gigajoule.
Earnings (EBITDAX) was $15.6m, and cash flow from operations was $19.9m. The company ended the period with $33m in cash and $49m in debt.
The broker maintains an Overweight rating but lowers Walyering production estimates and gas price assumptions, reducing the price target to 29c from 30c.
This report was published on March 3, 2025.
Target price is $0.29 Current Price is $0.18 Difference: $0.11
If STX meets the Wilsons target it will return approximately 61% (excluding dividends, fees and charges).
Current consensus price target is $0.27, suggesting upside of 48.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.7, 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 FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.7, 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: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TPG TPG TELECOM LIMITED
Telecommunication – Overnight Price: $4.48
Goldman Sachs rates ((TPG)) as Sell (5) –
TPG Telecom’s 2024 results were labelled as “mixed” with EBITDA in line with Goldman Sachs and net profit ahead. Cash performance was “strong” with free cash flow improving significantly.
The main negative, in the broker’s view, was a decline in postpaid subscribers in the second half, despite competitor price rises, and the return to growth early in 2025 following discounting.
This concerns Goldman Sachs both for the company’s ability to expand ARPU and for sustaining rationality in the industry.
The Sell rating is retained along with a $4.20 target.
This report was published on February 28, 2025.
Target price is $4.20 Current Price is $4.48 Difference: minus $0.28 (current price is over target).
If TPG 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 $4.79, suggesting upside of 8.6%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 18.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.0, implying annual growth of N/A.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 23.2.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 20.00 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.6, implying annual growth of 24.2%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 18.7.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((TPG)) as Overweight (2) –
TPG Telecom delivered 2024 results along with 2025 guidance that were both largely in line with Jarden’s expectations.
The company is guiding to a second-half weighting in EBITDA for 2025 because of costs associated with the Optus deal being evenly spread and revenue benefits accruing in the second half.
Jarden assumes a flat EBITDA outcome in 2025 but expects free cash flow to materially step up as a result of a reduction in the drag from handset receivables and capital expenditure. Overweight. Target is reduced to $5.20 from $5.25.
This report was published on March 1, 2025.
Target price is $5.20 Current Price is $4.48 Difference: $0.72
If TPG meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 8.6%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 18.00 cents and EPS of 17.60 cents.
At the last closing share price the estimated dividend yield is 4.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.0, implying annual growth of N/A.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 23.2.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 20.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.55.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.6, implying annual growth of 24.2%.
Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 18.7.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
VAU VAULT MINERALS LIMITED
Gold & Silver – Overnight Price: $0.40
Jarden rates ((VAU)) as Buy (1) –
Jarden describes Vault Mineral’s first set of financial statements post-merger as largely clean, with 1H25 net profit ahead of its forecast. The key movement was in tax losses and the broker expects them to be exhaused by end-FY25.
The broker notes the company has been optimising operating costs and its operations point to a material boost in free cash flow over the coming years.
The analyst reckons dividend is a possibility as Leonara grows in scale and it could happen as early as end-FY25. Target price of 52c and Buy rating are unchanged.
This report was published on February 27, 2025.
Target price is $0.52 Current Price is $0.40 Difference: $0.12
If VAU meets the Jarden target it will return approximately 30% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 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 7.84.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.53.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WPR WAYPOINT REIT LIMITED
REITs – Overnight Price: $2.43
Jarden rates ((WPR)) as Overweight (2) –
Waypoint REIT’s FY24 result proved broadly in line and revealed strong operating EBIT growth was offset by rising weighted average cost of debt (WACD), according to Jarden.
The 2H saw a new $500m debt facility established and $375m of swaps, but the cost of debt is still expected to rise 50bps to 5% in FY25.
Once WACD normalises, the broker expects the REIT to deliver steady 3-4% compounded annual growth in funds from operations.
The broker believes On The Run represents upside risk when the rollout is completed. Target price of $2.7 and Overweight rating are maintained.
This report was published on February 27, 2025.
Target price is $2.70 Current Price is $2.43 Difference: $0.27
If WPR meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.63, suggesting upside of 9.4%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 16.50 cents and EPS of 16.50 cents.
At the last closing share price the estimated dividend yield is 6.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.2, implying annual growth of -17.2%.
Current consensus DPS estimate is 16.3, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 14.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 16.80 cents and EPS of 16.80 cents.
At the last closing share price the estimated dividend yield is 6.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.3, implying annual growth of 0.6%.
Current consensus DPS estimate is 16.6, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
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 experienced, 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.
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.
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