Daily Market Reports | May 15 2025
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
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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 ASK CEN CSL CYL DNL FPR GQG HLS IEL MYX NEC PXA (2) QBE (2) REA (2) TCL TNE WJL
360 LIFE360 INC
Software & Services - Overnight Price: $29.75
Goldman Sachs rates ((360)) as Buy (1) -
Life360s 1Q result was ahead of Goldman Sachs' expectations, with revenue, gross profit, and adjusted earnings (EBITDA) all exceeding consensus.
Adjusted earnings of US$15.9m significantly beat consensus of US$9.1m, supported by strong subscription revenue growth of 33% year-on-year, explain the analysts.
International monthly active users (MAUs) grew by 39% and US MAUs by 17%. International monetisation remains relatively low, suggesting to the broker a significant long-term growth opportunity.
Hardware revenue declined slightly year-on-year due to fewer bundled offerings and higher discounts, explains Goldman.
FY25 guidance was unchanged, with higher subscriptions offsetting weaker hardware sales, observes the broker.
Buy. Target rises to $31 from $27.
This report was published on May 13, 2025.
Target price is $31.00 Current Price is $29.75 Difference: $1.25
If 360 meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $30.12, suggesting upside of 1.7%(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 43.54 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 68.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.7, 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 49.6.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 65.54 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.1, implying annual growth of -1.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 50.1.
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
ASK ABACUS STORAGE KING
REITs - Overnight Price: $1.51
Moelis rates ((ASK)) as Hold (3) -
Abacus Storage King has revalued 100% of its portfolio, delivering a 5.5% valuation uplift equating to a 13c rise in net tangible assets (NTA) to $1.73. The cap rate tightened by 7-bps to 5.49%, with most of the uplift driven by income growth.
Moelis notes this NTA level compares favourably to the $1.47 bid from a consortium comprising US-listed Public Storage and Ki Corporation.
Following the revaluation, the company's Independent Board Committee has rejected the non-binding indicative proposal.
National Storage REIT ((NSR)) has also taken a 5.11% stake, potentially complicating shareholder approval unless the bid is raised or restructured to include asset transfers to National Storage REIT, highlights the broker.
Moelis sees scope for the consortium to increase its offer by around 8% to reflect the higher NTA, contingent on due diligence. Failing that, other options such as replacing Abacus as manager and internalising operations could emerge, suggests the analyst.
The broker maintains a Hold rating and lifts the target price to $1.59 from $1.47.
This report was published on May 12, 2025.
Target price is $1.59 Current Price is $1.51 Difference: $0.075
If ASK meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $1.47, suggesting downside of -2.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 6.20 cents and EPS of 6.50 cents.
At the last closing share price the estimated dividend yield is 4.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.2, implying annual growth of -41.1%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 24.4.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 6.30 cents and EPS of 6.60 cents.
At the last closing share price the estimated dividend yield is 4.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.4, implying annual growth of 3.2%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 23.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CEN CONTACT ENERGY LIMITED
Infrastructure & Utilities - Overnight Price: $8.82
Jarden rates ((CEN)) as Buy (1) -
Jarden notes the April operating stats for Contact Energy infer earnings of around NZ$96m versus the broker's estimate of NZ$88m and up from NZ$33m in the prior year.
The analyst believes the result points to strong geothermal output, higher thermal volumes and more robust netbacks for both retail and C&I channels, with a slight pick up in hydro.
Buy rating retained with target price NZ$11.11.
This report was published on May 12, 2025.
Current Price is $8.82. Target price not assessed.
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 35.56 cents and EPS of 21.34 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.34.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 35.56 cents and EPS of 32.37 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.25.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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