Australian Broker Call *Extra* Edition – Feb 25, 2022

This story features ARB CORPORATION LIMITED, and other companies. For more info SHARE ANALYSIS: ARB

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)

ARB   EHE   HLO   HUB   MND   NIC   REG   RMS   RWC   SYM   UNI   UWL (2)   WTC   Z2U  

ARB    ARB CORPORATION LIMITED

Automobiles & Components – Overnight Price: $40.68

JP Morgan rates ((ARB)) as Underweight (5) –

ARB Corp's 1H revenue was in-line with guidance provided in late January, and reported profit (PBT) was at the top-end of the guidance range.

While operating cash flow was weaker than the analyst expected, management explained a build-up of  inventory was required to capitalise on current sales momentum.

The broker acknowledges near to medium-term tailwinds though believes the stock price currently captures these, and retains its Underweight rating. The $36 target price is unchanged.

This report was published on February 23, 2022.

Target price is $36.00 Current Price is $40.68 Difference: minus $4.68 (current price is over target).
If ARB meets the JP Morgan target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $48.99, suggesting upside of 20.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 80.00 cents and EPS of 166.00 cents.
At the last closing share price the estimated dividend yield is 1.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 157.8, implying annual growth of 12.7%.
Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 25.8.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 70.00 cents and EPS of 139.00 cents.
At the last closing share price the estimated dividend yield is 1.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 159.5, implying annual growth of 1.1%.
Current consensus DPS estimate is 65.6, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 25.5.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EHE    ESTIA HEALTH LIMITED

Aged Care & Seniors – Overnight Price: $2.23

Moelis rates ((EHE)) as Buy (1) –

Estia Health's December first-half result struggled in the face of omicron, spot occupancy falling to 90.1%.

But Moelis maintains the faith after management signalled inquiry levels were starting to normalise across most regions, and expects the company's strong track record and balance sheet will help drive gains in market share in a fragmented and distressed industry over the medium to long term. 

The broker points to strong cost management in a challenging environment and believes the group is well positioned to meet compliance demands.

Add to that a forecast demand/supply imbalance and the broker retains a Buy rating. Target price eases to $2.79 from the last entry in FNArena's data base of $2.94.

This report was published on February 23, 2022.

Target price is $2.94 Current Price is $2.23 Difference: $0.71
If EHE meets the Moelis target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 7.40 cents and EPS of 5.70 cents.
At the last closing share price the estimated dividend yield is 3.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.12.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 8.60 cents and EPS of 10.10 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 22.08.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HLO    HELLOWORLD TRAVEL LIMITED

Travel, Leisure & Tourism – Overnight Price: $2.18

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

Higher 1H revenue for Helloworld Travel broadly offset a reduction in government subsidies, and overall, results were in-line with JP Morgan's expectation. The Overweight rating and $2.90 target are retained.

The company remains the broker's preferred stock in the sector. There's also considered to be possibilities for M&A, with ample funding on hand. Should current momentum be sustained, the 4Q is expected to be breakeven.

The company's network has remained open and operating while many competitors have closed operations, points out management.

This report was published on February 22, 2022.

Target price is $2.90 Current Price is $2.18 Difference: $0.72
If HLO meets the JP Morgan target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 16.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.63.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.33.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $26.75

JP Morgan rates ((HUB)) as Upgrade to Neutral from Underweight (3) –

According to JP Morgan, Hub24 delivered a solid 1H result as platform margins stabilised and headcount investment was brought forward to support momentum in platform inflows. Despite this expenditure, the cost-to-income ratio for the platform was maintained.

Management expects to deliver more income than expenses over time (positive jaws), despite the investment for growth.

The broker upgrades its rating to Neutral from Underweight (despite a full valuation), while the target eases to $26 from $26.15.

This report was published on February 23, 2022.

Target price is $26.00 Current Price is $26.75 Difference: minus $0.75 (current price is over target).
If HUB meets the JP Morgan target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $34.11, suggesting upside of 27.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 16.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 0.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 59.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.0, implying annual growth of 238.1%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 62.2.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 24.00 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 0.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 43.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 60.1, implying annual growth of 39.8%.
Current consensus DPS estimate is 24.3, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 44.5.

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

MND    MONADELPHOUS GROUP LIMITED

Mining Sector Contracting – Overnight Price: $11.15

Jarden rates ((MND)) as Downgrade to Neutral from Buy (3) –

Interim results for Monadelphous revealed an EPS beat versus both Jarden and the consensus estimate of 41% and 24%, respectively, as strong revenues set up earnings (EBITDA) growth of 6.8% year-on-year. 

The Maintenance & Industrial segment revenue grew by 21.3%.

However, given a weaker near-term revenue and earnings outlook, the broker lowers its rating to Neutral from Overweight and eases its target to $10.10 from $10.50. It's thought guidance suggests a significant decline in Engineering & Construction revenue.

Management expects ongoing margin compression from labour tightness in WA, and the broker believes a smaller share of higher- margin E&C work in the business mix will have the same effect.

This report was published on February 24, 2022.

Target price is $10.10 Current Price is $11.15 Difference: minus $1.05 (current price is over target).
If MND meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $11.40, suggesting upside of 2.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 49.90 cents and EPS of 50.30 cents.
At the last closing share price the estimated dividend yield is 4.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.6, implying annual growth of 3.8%.
Current consensus DPS estimate is 40.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 21.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 63.30 cents and EPS of 54.40 cents.
At the last closing share price the estimated dividend yield is 5.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 59.8, implying annual growth of 15.9%.
Current consensus DPS estimate is 48.4, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 18.6.

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

NIC    NICKEL MINES LIMITED

Nickel – Overnight Price: $1.45

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

Nickel Mines' FY21 result fell -17% shy of Shaw and Partners forecast due to withholding tax and interest charges.

At the operating level, the company delivered an in-line result, as strong nickel prices outpaced a decline in contained nickel production to deliver record earnings from the Rotary Kiln Electric Furnace division.

The broker expects production to pick up in 2022 as the Angel and Oracle projects come on line, notes the company is in its growth phase and enjoys strong support from Chines shareholder Tsingshan, and that prices are likely to remain high, cushioning margins from rising costs.

Shaw and Partners expects costs should fall as coal prices most likely retreat in 2022. Buy recommendation retained. Target price rises to $1.60 from $1.05.

This report was published on February 24, 2022.

Target price is $1.60 Current Price is $1.45 Difference: $0.15
If NIC meets the Shaw and Partners target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $1.68, suggesting upside of 15.5%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 11.31 cents and EPS of 15.07 cents.
At the last closing share price the estimated dividend yield is 7.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.0, implying annual growth of N/A.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 13.2.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 14.94 cents and EPS of 28.40 cents.
At the last closing share price the estimated dividend yield is 10.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.2, implying annual growth of 56.4%.
Current consensus DPS estimate is 7.3, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 8.4.

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

REG    REGIS HEALTHCARE LIMITED

Aged Care & Seniors – Overnight Price: $1.97

Moelis rates ((REG)) as Buy (1) –

Regis Healthcare's December first-half result appears to have met Moelis' forecasts, spot occupancy rising despite covid. 

Spot occupancy rates rose again in January and February, leading the broker to surmise the worst is over.

Net debt fell roughly -25% to reflect a sharp rise in residential accommodation deposits and Moelis believes this positions Regis Healthcare well to capitalise on greenfields or merger-and-acquisition opportunities.

The broker expects residential accommodation deposits will continue to rise and room prices should recover in line with the local housing market, and sees an impending demand/supply imbalance in the company's favour.

Buy rating retained and the target price inches up to $2.56.

This report was published on February 23, 2022.

Target price is $2.56 Current Price is $1.97 Difference: $0.59
If REG meets the Moelis target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $2.03, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 7.00 cents and EPS of 7.80 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 25.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.9, implying annual growth of -71.3%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 103.7.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 8.10 cents and EPS of 8.20 cents.
At the last closing share price the estimated dividend yield is 4.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.5, implying annual growth of 31.6%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 78.8.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

RMS    RAMELIUS RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.56

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

Ramelius Resources' December first-half result outpaced Shaw and Partner's forecasts thanks to a one-off gain following the sale of Kathleen Valley lithium royalties to Liontown Resources ((LTR)) for $30.3m.

Higher all in sustaining costs met guidance and the broker says the company is managing rising costs well (the margin slipping to 37% from 42%), and expects a cost reduction in FY23 and FY24 as the lower cost Penny development production kicks in.

Production guidance was reiterated and the company holds a strong cash position. Buy rating retained. Target price eases to $2.47 from $2.49.

This report was published on February 24, 2022.

Target price is $2.47 Current Price is $1.56 Difference: $0.91
If RMS meets the Shaw and Partners target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $1.94, suggesting upside of 24.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 5.00 cents and EPS of 16.90 cents.
At the last closing share price the estimated dividend yield is 3.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.3, implying annual growth of -34.1%.
Current consensus DPS estimate is 1.9, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 15.1.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 6.00 cents and EPS of 20.50 cents.
At the last closing share price the estimated dividend yield is 3.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.8, implying annual growth of 4.9%.
Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 14.4.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

RWC    RELIANCE WORLDWIDE CORP. LIMITED

Building Products & Services – Overnight Price: $4.44

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

First half price rises covered cost inflation for Reliance Worldwide Corp, and JP Morgan expects this dynamic to increase in the 2H. Also an inventory build over the period should benefit, as robust demand conditions continue in the US over the next 18 months.

With a step-change in attitudes towards home renovation to persist near term, the analyst expects modest single-digit volume growth over the next 12 months. The target rises to $5.60 from $5.30 and the Neutral rating is kept.

This report was published on February 22, 2022.

Target price is $5.60 Current Price is $4.44 Difference: $1.16
If RWC meets the JP Morgan target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting upside of 36.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 10.00 cents and EPS of 20.00 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 22.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.0, implying annual growth of N/A.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 12.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 2.70%.
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 32.1, implying annual growth of 18.9%.
Current consensus DPS estimate is 16.9, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 13.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SYM    SYMBIO HOLDINGS LIMITED

Telecommunication – Overnight Price: $5.51

Moelis rates ((SYM)) as Upgrade to Buy from Hold (1) –

Symbio Holdings' December first-half result appears to have pleased Moelis despite the company losing a Tier-1 customer in the period.

The broker says excluding this, margins were strong, group phone numbers soared and the company reiterated guidance.

Rating is upgraded to Buy from Hold and the target price slips to $6.73 from $7.63.

This report was published on February 23, 2022.

Target price is $7.63 Current Price is $5.51 Difference: $2.12
If SYM meets the Moelis target it will return approximately 38% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 8.80 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 1.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.48.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 11.40 cents and EPS of 18.30 cents.
At the last closing share price the estimated dividend yield is 2.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.11.

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

UNI    UNIVERSAL STORE HOLDINGS LIMITED

Apparel & Footwear – Overnight Price: $6.30

Jarden rates ((UNI)) as Upgrade to Overweight from Neutral (2) –

Following interim results, Jarden increases its rating for Universal Store Holdings to Overweight from Neutral and raises its target price to $9 from $8.20. The stock is considered a reopening play.

While the broker's earnings (EBIT) forecast falls circa -3% for FY22, upgrades result for FY23 and beyond on a stronger forecast for margin and sales, as well as a greater store rollout than previously estimated.

For the brand called Perfect stranger, five to eight stores are planned over the next 12 months, which should be accretive to margins due to a full private label mix, explains the analyst.

This report was published on February 24, 2022.

Target price is $9.00 Current Price is $6.30 Difference: $2.7
If UNI meets the Jarden target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $8.55, suggesting upside of 35.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 16.00 cents and EPS of 25.70 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 24.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.1, implying annual growth of -12.6%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 29.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 4.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.1, implying annual growth of 48.1%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.6.

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

UWL    UNITI GROUP LIMITED

Telecommunication – Overnight Price: $3.17

Jarden rates ((UWL)) as Upgrade to Buy from Overweight (1) –

Following 1H results for Uniti Group and an accompanying share price fall, Jarden upgrades its rating to Buy from Overweight, observing a -1% miss versus expectations for earnings (EBITDA).

The broker's target eases to $4.39 from $4.67 after allowing for an increased share count and slowing construction earnings.

The analyst suspects the share price reacted to the fall in construction revenues, though points out these are the lower-quality revenues of the business. 

More positively (and perversely), the dip in construction revenue highlights the predictable and recurring nature of 90% of the company's revenue, points out Jarden.

This report was published on February 24, 2022.

Target price is $4.39 Current Price is $3.17 Difference: $1.22
If UWL meets the Jarden target it will return approximately 38% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 11.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.82.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 13.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.20.

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

---

JP Morgan rates ((UWL)) as Upgrade to Overweight from Neutral (1) –

JP Morgan upgrades its rating for Uniti Group to Overweight from Neutral after a -9% share price slump on the day of interim results. The 1H was considered to be in-line with expectations, with the largest weakness being the timing of delivery of the contract book.

The analyst believes positives for the business remain in place, and suggests the current valuation might promote corporate appeal. On 24 January 2022 the group announced it had ‘more than one party indicating potential interest in acquiring the company’.

The target price eases to $4 from $4.30.

This report was published on February 23, 2022.

Target price is $4.00 Current Price is $3.17 Difference: $0.83
If UWL meets the JP Morgan target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of 12.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.42.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of 15.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.13.

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

WTC    WISETECH GLOBAL LIMITED

Cloud services – Overnight Price: $41.25

Shaw and Partners rates ((WTC)) as Hold (3) –

WiseTech Globa's December first-half result disappointed Shaw and Partners on revenue but outpaced by 1% on earnings (EBITDA) on a strong cost performance, thanks to the company-wide efficiency program.

Management reaffirmed revenue guidance and bumped up EBITDA growth guidance between 4% and 6%.

The broker notes that global roll-outs continue apace, and the company now services 10 of the Top 25 large freight forwarders (with 40 big clients all up).

The company's CargoWise platform now delivers 589 product features, up from 460 over the past five years, notes the broker.

Hold rating and $46 target price retained.

This report was published on February 24, 2022.

Target price is $46.00 Current Price is $41.25 Difference: $4.75
If WTC meets the Shaw and Partners target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $45.18, suggesting upside of 9.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 8.00 cents and EPS of 53.00 cents.
At the last closing share price the estimated dividend yield is 0.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 77.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 48.3, implying annual growth of 45.2%.
Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 85.4.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 9.40 cents and EPS of 59.90 cents.
At the last closing share price the estimated dividend yield is 0.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 68.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.1, implying annual growth of 34.8%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 63.4.

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

Z2U    ZOOM2U TECHNOLOGIES LIMITED

Transportation & Logistics – Overnight Price: $0.25

Shaw and Partners rates ((Z2U)) as Buy (1) –

 Zoom2U Technologies' December first-half result outpaced Shaw and Partners' forecasts by 5%, thanks to positive impacts from covid lockdowns.

Otherwise most key metrics were preannounced. Management guides to strong organic growth, recent enterprises wins and opportunistic mergers and acquisitions.

But with the lockdown windfall unlikely to be repeated, and the market demonstrating higher risk aversion to smaller high-growth companies yet to break even, the broker lowers the target price to 50c from 70c.

This report was published on February 24, 2022.

Target price is $0.50 Current Price is $0.25 Difference: $0.25
If Z2U meets the Shaw and Partners target it will return approximately 100% (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 2.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.90.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 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 14.71.

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

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