Australian Broker Call *Extra* Edition – Nov 30, 2021

This story features ALCIDION GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: ALC

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

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

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

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

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

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

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

COMPANIES DISCUSSED IN THIS ISSUE

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

ALC   AMS   ARX   BVS (2)   DRR   FPH   IGL   NIC   QML   SKO   TNE   VHT   WPR  

ALC    ALCIDION GROUP LIMITED

Healthcare services – Overnight Price: $0.33

Canaccord Genuity rates ((ALC)) as Initiation of coverage with Buy (1) –

Canaccord Genuity initiates coverage on digital health company Alcidion Group as the company considers expansion from its existing focus on the Australia, New Zealand and UK markets into other European regions and Canada. 

Alcidion Group acquired its primary software in 2018, and offers bespoke solutions for lower cost organisations. The broker expects budget increases to address inefficiencies in UK hospital systems will support tailwinds for the company. 

The broker initiates with a Buy rating and a target price of $0.42.

This report was published on November 24, 2021.

Target price is $0.42 Current Price is $0.33 Difference: $0.09
If ALC meets the Canaccord Genuity target it will return approximately 27% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 110.00.

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

AMS    ATOMOS LIMITED

Consumer Electronics – Overnight Price: $1.12

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

A market update from Atomos has implied that despite supply chain issues, the company's first half revenue will likely be more than $40.0m, which Shaw and Partners notes is up 22% year-on-year, with full year revenue flagged to exceed $95.0m. 

The company's top products the Ninja V and the Ninja V+, which represent 50% of sales, are not expected to be disrupted by supply chain issues through to June 2022. The broker notes potential upside to estimates given benefit from holiday sales and FY22 launches. 

Revenue estimates increase 3.6%, 0.1% and 0.1% through to FY24, while post research and development underlying earnings decrease -11.9%, -2.7% and -1.6% for the same time period.

The Buy rating is retained and the target price decreases to $1.95 from $2.00. 

This report was published on November 24, 2021.

Target price is $1.95 Current Price is $1.12 Difference: $0.83
If AMS meets the Shaw and Partners target it will return approximately 74% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of 6.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.06.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 8.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.73.

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

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.13

Canaccord Genuity rates ((ARX)) as Initiation of coverage with Buy (1) –

Canaccord Genuity initiates coverage on medical device company Aroa Biosurgery, which it describes as a disruptive force to the $4bn wound care and global soft tissue repair market with potential for $0.20 per share upside not yet included in valuation. 

According to the broker, Aroa's extracellular matrix platform combines the best of cheaper, higher risk synthetic materials and more expensive, lower risk biologics for soft tissue repair mesh that is over 95% biological with a 35% cost advantage on peers. 

The broker initiates with a Buy rating and a target price of $1.80.

This report as published on November 24, 2021.

Target price is $1.80 Current Price is $1.13 Difference: $0.67
If ARX meets the Canaccord Genuity target it will return approximately 59% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 51.36.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 80.71.

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

BVS    BRAVURA SOLUTIONS LIMITED

Wealth Management & Investments – Overnight Price: $2.51

Goldman Sachs rates ((BVS)) as Buy (1) –

Bravura Solutions has reiterated guidance for mid-teens profit growth in FY22, which tallies with comments made previously at FY21 results, points out Goldman Sachs.

The analyst highlights a transition away from traditional contracts, with large upfront implementation costs, towards consumption-based contracts. This is expected to deliver a more stable earnings mix over the life of the contracts.

Goldman Sachs retains its Buy rating and $3.70 target price.

This report was published on November 24, 2021.

Target price is $3.70 Current Price is $2.51 Difference: $1.19
If BVS meets the Goldman Sachs target it will return approximately 47% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 10.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.73.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 12.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.76.

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

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Jarden rates ((BVS)) as Buy (2) –

Despite reaffirmation of FY22 guidance by Bravura Solutions, Jarden would like to see visibility for growing revenues.

While there has been a return to growth, the analyst notes this is largely due to the annualised benefits of a cost-out program and elevated capitalisation.

The broker points out management commentary is relatively unchanged from that at FY21 results. The Underweight rating is unchanged and the target price falls to $2.65 from $2.95. 

This report was published on November 24, 2021.

Target price is $2.65 Current Price is $2.51 Difference: $0.14
If BVS meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 10.30 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 4.10%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.73.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 10.60 cents and EPS of 15.30 cents.
At the last closing share price the estimated dividend yield is 4.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.41.

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

DRR    DETERRA ROYALTIES LIMITED

Iron Ore – Overnight Price: $4.13

Canaccord Genuity rates ((DRR)) as Initiation of coverage with Buy (1) –

Canccord Genuity initiates on $2.2bn royalty company Deterra Royalties. The company holds a material royalty for BHP's iron ore Mining Area C but is actively pursuing diversification into additional sectors including in base or battery metals. 

The broker's view is that $100m expansion into sustainability credential improving commodities on attractive terms could generate a 14-21% increase to free cash flow, and notes royalty companies have a track record of growth in market upturns and downturns. 

The broker initiates with a Buy rating and a target price of $5.10. 

This report was published on November 25, 2021. 

Target price is $5.10 Current Price is $4.13 Difference: $0.97
If DRR meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $4.61, suggesting upside of 11.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 27.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 6.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.2, implying annual growth of 52.5%.
Current consensus DPS estimate is 27.2, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 15.2.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 24.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.9, implying annual growth of -4.8%.
Current consensus DPS estimate is 25.9, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 15.9.

Market Sentiment: 0.8
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: $31.58

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

First half results for Fisher & Paykel Healthcare Corp were a 3% beat versus JP Morgan's expectations, aided by a sharp lift in consumables sales in the last few months from the latest covid wave. 

Management expects a sequential lift in sales, with now Europe also seeing more covid cases. The analyst predicts a period of moderation for earnings (as the pandemic recedes) before double-digit growth returns.

The Neutral rating and target price of NZ$32 are maintained.

This report was published on November 26, 2021.

Current Price is $31.58. Target price not assessed.
Current consensus price target is $34.00, suggesting upside of 7.7%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 35.29 cents and EPS of 62.11 cents.
At the last closing share price the estimated dividend yield is 1.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.2, implying annual growth of N/A.
Current consensus DPS estimate is 37.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 49.2.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 37.64 cents and EPS of 56.46 cents.
At the last closing share price the estimated dividend yield is 1.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 55.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.5, implying annual growth of 2.0%.
Current consensus DPS estimate is 42.5, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 48.2.

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

IGL    IVE GROUP LIMITED

Media – Overnight Price: $1.72

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

IVE Group's trading update for the first four months of FY22 suggests to Bell Potter underlying profit is tracking more than 10% ahead of the broker's 1H22 estimates. As revenues normalised, strong operating leverage emerged, notes the analyst.

The easing of lockdowns in NSW and Victoria will further assist, explains the broker, as will improvements in key sectors (e.g. tourism and events) over the next 18 months.

Structural improvements to the company's cost base should support operating leverage and earnings upside, according to Bell Potter.

The target price rises to $2.02 from $2 and the Buy rating is maintained.

This report was published on November 24, 2021.

Target price is $2.02 Current Price is $1.72 Difference: $0.3
If IGL meets the Bell Potter target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 15.40 cents and EPS of 23.80 cents.
At the last closing share price the estimated dividend yield is 8.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.23.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 16.30 cents and EPS of 26.20 cents.
At the last closing share price the estimated dividend yield is 9.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.56.

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

NIC    NICKEL MINES LIMITED

Nickel – Overnight Price: $1.39

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

Following a multi-faceted agreement that expands Nickel Mines' partnership with Shanghai Decent Investment, Bell Potter lifts its target price to $1.68 from $1.42. The Buy rating is maintained.

The primary update is the Oracle Nickel Project acquisition, which lifts the broker's forecast 2023 EPS growth to 95% from 68%. Forecast US$ earnings are set to triple over the 2021 to 2023 period.

The above update follows news on the Angel Nickel Project, which bell Potter assesses is progressing ahead-of-schedule.

This report was published on November 24, 2021.

Target price is $1.68 Current Price is $1.39 Difference: $0.29
If NIC meets the Bell Potter target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $1.46, suggesting upside of 5.2%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY21:

Bell Potter forecasts a full year FY21 dividend of 5.30 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 3.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.7, implying annual growth of N/A.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 18.1.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 7.95 cents and EPS of 17.49 cents.
At the last closing share price the estimated dividend yield is 5.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.7, implying annual growth of 13.0%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 16.0.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

QML    QMINES LIMITED

Overnight Price: $0.38

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

Shaw and Partners expects Qmines to issue a significant resource upgrade for its Mount Chalmer copper project before the end of the year, as drilling results continue to suggest high grade mineralisation outside the existing resource. 

The company is targeting a resource increase to around 200,000 tonnes of copper equivalent over the next few years. 

The Buy rating and target price of $0.72 are retained. 

This report was published on November 24, 2021.

Target price is $0.72 Current Price is $0.38 Difference: $0.34
If QML meets the Shaw and Partners target it will return approximately 89% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.35.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.75.

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

SKO    SERKO LIMITED

Software & Services – Overnight Price: $6.10

Jarden rates ((SKO)) as Neutral (3) –

Jarden attributes Serko’s -17% miss on 1H operating revenue and lower-than-expected full-year revenue guidance to 3Q travel restrictions in A&NZ, and a slower revenue ramp-up with Booking.com in Europe.

Management will use the NZ$85m capital raise proceeds for acquisitions and to undertake further investment in the Booking.com partnership, as well as developing a global marketplace product.

The analyst feels that to justify the current market cap, a meaningful uptick in bookings is needed over the next 12 months. The Neutral rating is unchanged and the target price is lowered to NZ$6 from NZ$6.14.

This report was published on November 24, 2021.

Current Price is $6.10. Target price not assessed.
Current consensus price target is $8.10, suggesting upside of 32.8%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 20.23 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 30.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -19.4, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 11.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 54.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.1, 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 290.5.

This company reports in NZD. 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

TNE    TECHNOLOGY ONE LIMITED

IT & Support – Overnight Price: $11.92

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

Following FY21 results, Bell Potter is encouraged by TechnologyOne's strong conversion of customers to SaaS. FY21 profit was a 1% beat versus the broker's forecasts and towards the top end of the $94.3-98.6m guidance range.

SaaS annual recurring revenue (ARR) grew by 43%, which was ahead of the analyst's 35% forecast, in line with guidance for 35%. Management reiterated a target of $500m for ARR by FY26.

After making negligible changes to its earnings forecasts, Bell Potter retains its Buy rating and $15 target price.

This report was published on November 24, 2021.

Target price is $15.00 Current Price is $11.92 Difference: $3.08
If TNE meets the Bell Potter target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $12.16, suggesting upside of 2.0%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 15.30 cents and EPS of 26.30 cents.
At the last closing share price the estimated dividend yield is 1.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.4, implying annual growth of N/A.
Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 45.2.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 17.60 cents and EPS of 30.40 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.3, implying annual growth of 11.0%.
Current consensus DPS estimate is 18.6, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 40.7.

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

VHT    VOLPARA HEALTH TECHNOLOGIES LIMITED

Medical Equipment & Devices – Overnight Price: $1.11

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

Following first half results for Volpara Health Technologies, Bell Potter notes the gross margin remains above 90% and believes it will expand further as scale increases. It's thought the company remains well capitalised and the Buy rating and $1.60 target are retained. 

As more installations take place, and as partnership revenues (particularly with specialist genetics partners) gain momentum, 2H revenues should climb, according to the analyst.

This report was published on November 24, 2021.

Target price is $1.60 Current Price is $1.11 Difference: $0.49
If VHT meets the Bell Potter target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 6.87 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.16.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 4.23 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 26.22.

This company reports in NZD. 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

WPR    WAYPOINT REIT LIMITED

REITs – Overnight Price: $2.63

JP Morgan rates ((WPR)) as Overweight (1) –

Following Waypoint REIT's recently completed $150m capital management plan, the new $50m buy-back program and share consolidation, JP Morgan lowers its target to $3.30 from $3.40.

The target reduction largely stems from higher interest expenses following the $130m capital return. The Overweight rating is maintained.

This report was published on November 24, 2021.

Target price is $3.30 Current Price is $2.63 Difference: $0.67
If WPR meets the JP Morgan target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $2.87, suggesting upside of 9.0%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY21:

JP Morgan forecasts a full year FY21 dividend of 16.70 cents and EPS of 16.70 cents.
At the last closing share price the estimated dividend yield is 6.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.9, implying annual growth of -58.3%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 16.5.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 16.90 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 6.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 1.3%.
Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 16.3.

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

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

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

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