Daily Market Reports | May 16 2022
This story features AMCOR PLC, and other companies. For more info SHARE ANALYSIS: AMC
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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)
AMC ANZ ARB ARX AUT BSX BTH BWX CAI DCN DDH DEG ELO (2) FLT FMG HLO ING JBH (2) JHG MAQ MBH MMM MZZ NCK NTO (2) PAR PBH PWH QAN RHC (3) SGR SHV (2) STN SUL TIE TPW TSI (2) UBI WOW
AMC AMCOR PLC
Paper & Packaging – Overnight Price: $18.33
Jarden rates ((AMC)) as Buy (1) –
Despite an inflationary environment, Amcor's third quarter earnings per share were a 3% beat to consensus while the company also managed to retain full year guidance despite market fears in what Jarden considers a good result.
The update also saw the company lift its long-run capital expenditure guidance to 4-5% of revenue from a previous 3-4%, although Jarden noted it is unclear if this increase refers to growth expenditure or simply stay-in-business costs.
The broker finds Amcor to be handling inflationary and availability issues well, and noted free cash flow remains strong at US$1.1bn for the year.
The Buy rating is retained and the target price decreases to $17.95 from $18.05.
This report was published on May 5, 2022.
Target price is $17.95 Current Price is $18.33 Difference: minus $0.38 (current price is over target).
If AMC meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.34, suggesting upside of 0.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 67.43 cents and EPS of 108.98 cents.
At the last closing share price the estimated dividend yield is 3.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 117.1, implying annual growth of N/A.
Current consensus DPS estimate is 70.9, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 15.7.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 69.20 cents and EPS of 115.65 cents.
At the last closing share price the estimated dividend yield is 3.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 122.4, implying annual growth of 4.5%.
Current consensus DPS estimate is 73.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 15.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Banks – Overnight Price: $25.39
Goldman Sachs rates ((ANZ)) as Downgrade to Neutral from Buy (3) –
Further to the first half results analysis, Goldman Sachs has revised estimates for FY22-24. Estimates for FY22 have been revised up by 3.1% while the outlying years have been revised down.
The changes are based on a better net interest margin trajectory and lower bad debts, partially offset by higher expenses.
The bank's shelving of cost targets removes the valuation support and as a result the broker downgrades to Neutral from Buy. Target is reduced to $29.84 from $32.51.
This report was published on May 4, 2022.
Target price is $29.84 Current Price is $25.39 Difference: $4.45
If ANZ meets the Goldman Sachs target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $29.56, suggesting upside of 16.4%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 145.00 cents and EPS of 211.00 cents.
At the last closing share price the estimated dividend yield is 5.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 206.4, implying annual growth of -4.9%.
Current consensus DPS estimate is 142.2, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 152.00 cents and EPS of 222.00 cents.
At the last closing share price the estimated dividend yield is 5.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 223.3, implying annual growth of 8.2%.
Current consensus DPS estimate is 155.5, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARB ARB CORPORATION LIMITED
Automobiles & Components – Overnight Price: $31.34
Wilsons rates ((ARB)) as Overweight (1) –
While ARB Corp reported sales growth in the third quarter, with sales of $525m up 18% on the previous comparable period, Wilsons notes despite demand remaining strong the continuation of new vehicle supply challenges and labour constraints will likely impact.
Recent price increases should benefit, and the company is guiding to full year revenue around $700m.
The Overweight rating is retained and the target price decreases to $43.00 from $49.80.
This report was published on May 5, 2022.
Target price is $43.00 Current Price is $31.34 Difference: $11.66
If ARB meets the Wilsons target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $43.91, suggesting upside of 40.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 79.00 cents and EPS of 160.50 cents.
At the last closing share price the estimated dividend yield is 2.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 148.1, implying annual growth of 5.8%.
Current consensus DPS estimate is 60.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 21.2.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 73.00 cents and EPS of 143.10 cents.
At the last closing share price the estimated dividend yield is 2.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 154.5, implying annual growth of 4.3%.
Current consensus DPS estimate is 62.3, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 20.3.
Market Sentiment: 0.8
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: $0.77
Bell Potter rates ((ARX)) as Buy (1) –
Aroa Biosurgery's March-quarter trading update outpaced guidance, thanks to accelerating growth post covid as elective surgeries in the US rebooted.
Bell Potter notes the company is enjoying increased access to US hospitals following the extension of its HealthTrust contract in October and the Myriad Registry clinical validation continues apace.
The broker retains a Speculative Buy rating. Target price cut to $1.45 from $1.70 to reflect the market re-rating of growth stocks.
This report was published on May 3, 2022.
Target price is $1.45 Current Price is $0.77 Difference: $0.68
If ARX meets the Bell Potter target it will return approximately 88% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 59.23.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 42.78.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AUT AUTECO MINERALS LIMITED
Gold & Silver – Overnight Price: $0.06
Canaccord Genuity rates ((AUT)) as Buy (1) –
Auteco Minerals has increased its resource at Pickle Crow to 2.23m ounces at 7.8g/t gold, ahead of expectations. This new resource estimate marks a 30% increase in total contained ounces in just six months, Canaccord Genuity notes.
Further results are expected in the current quarter from a business that is well funded with $24.5m in cash. Speculative Buy rating retained. Target is raised to $0.26 from $0.25.
This report was published on May 4, 2022.
Target price is $0.26 Current Price is $0.06 Difference: $0.2
If AUT meets the Canaccord Genuity target it will return approximately 333% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BSX BLACKSTONE MINERALS LIMITED
New Battery Elements – Overnight Price: $0.28
Shaw and Partners rates ((BSX)) as Buy (1) –
Shaw and Partners considers the appointment of tier-one engineering contractors to conduct the Definitive Feasibility Study for the Ta Khoa project in Vietnam to be a major step towards derisking the project, which is mooted to begin first production in 2025.
The broker believes Blackstone Minerals is committed to producing an ESG-friendly product and recently signed a collaborative partnership with the leader in lithium supply chain tracebility – Circulor – which should help ensure the company continues to attract capital support.
Shaw appreciates the company's net cash position of $49m and recent strategic mine developments.
Buy recommendation and $1.50 target price retained.
This report was published on May 4, 2022.
Target price is $1.50 Current Price is $0.28 Difference: $1.22
If BSX meets the Shaw and Partners target it will return approximately 436% (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 16.47.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.28.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BTH BIGTINCAN HOLDINGS LIMITED
Cloud services – Overnight Price: $0.58
Canaccord Genuity rates ((BTH)) as Buy (1) –
Bigtincan Holdings reiterated full year guidance of annual recurring revenue exceeding $119m and revenue exceeding $109m, which Canaccord Genuity notes suggests slowing recurring revenue growth in the second half, while revenue benefits from a material uplift.
The broker notes second half revenue looks to be around $63m, compared to first half revenue of $46m, and anticipates the company can achieve an 18% compound annual growth rate through to FY24, with modest upside risk if the company reaches growth targets.
The Buy rating is retained and the target price decreases to $1.50 from $2.00.
This report was published on April 29, 2022.
Target price is $1.50 Current Price is $0.58 Difference: $0.92
If BTH meets the Canaccord Genuity target it will return approximately 159% (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 minus 9.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.44.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 29.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BWX BWX LIMITED
Household & Personal Products – Overnight Price: $1.33
Moelis rates ((BWX)) as Downgrade to Hold from Buy (3) –
Following significantly weaker than expected FY22 guidance by BWX, Moelis makes EPS downgrades to forecasts for FY22-24 of between -33-36%. The rating is downgraded to Hold from Buy and the target price is lowered to $1.69 from $4.36.
The downgrades resulted from weaker than expected revenues from Andalou, Go-To and the digital businesses Nourished Life and Flora & Fauna, explains the analyst. Also, costs were higher than expected.
The broker assumes cost pressures persist into FY23, which should partially offsetting any margin improvement from the transition to a new facility. Management has implemented price increases to offset cost inflation and is targeting -$5m in cost savings for FY23.
This report was published on May 6, 2022.
Target price is $1.69 Current Price is $1.33 Difference: $0.36
If BWX meets the Moelis target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $2.67, suggesting upside of 100.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Moelis forecasts a full year FY22 dividend of 0.00 cents and EPS of 7.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.1, implying annual growth of -52.5%.
Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 16.4.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 3.20 cents and EPS of 10.60 cents.
At the last closing share price the estimated dividend yield is 2.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.55.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.6, implying annual growth of 55.6%.
Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 10.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CAI CALIDUS RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.85
Canaccord Genuity rates ((CAI)) as Buy (1) –
Calidus Resources has commenced the commissioning of Warrawoona gold project. The company has also announced plans to form a new Pilbara lithium exploration company with Haoma Mining.
Canaccord Genuity updates its assumptions, rolling forward its valuation as first gold is expected in coming weeks. Target is raised to $1.20 from $1.15. Speculative Buy rating unchanged.
This report was published on May 4, 2022.
Target price is $1.20 Current Price is $0.85 Difference: $0.35
If CAI meets the Canaccord Genuity target it will return approximately 41% (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 minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 85.00.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 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 5.31.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DCN DACIAN GOLD LIMITED
Gold & Silver – Overnight Price: $0.19
Canaccord Genuity rates ((DCN)) as Buy (1) –
Dacian Gold has downgraded full year production guidance to 94-97,000 ounces at an all-in sustaining cost of $1,850-1,950 per ounce, from a previous 100-110,000 ounces at $1,750-1,850 per ounce, following March quarter production that disappointed Canaccord Genuity.
The company reported final production for the quarter of 23,600 ounces, compared to an anticipated 28,500 ounces, attributing the miss to skills shortages, but Canaccord notes the company maintained an aggressive exploration effort in the quarter.
The Speculative Buy rating is retained and the target price decreases to $0.41 from $0.42.
This report was published on April 29, 2022.
Target price is $0.41 Current Price is $0.19 Difference: $0.22
If DCN meets the Canaccord Genuity target it will return approximately 116% (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 minus 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.33.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.80.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DDH DDH1 LIMITED
Mining Sector Contracting – Overnight Price: $0.85
Bell Potter rates ((DDH)) as Buy (1) –
DDH1's March-quarter trading update appears to have disappointed Bell Potter, strong revenue growth being offset by lower utilisation, wet weather and omicron costs eroding margins.
Bell Potter expects margins will expand in the June quarter as WA borders reopen.
EPS forecasts fall -2.1% in FY22, -2.3% in FY23 and -2.2% in FY24.
Buy rating retained. Target price falls to $1.48 from $1.56.
This report was published on May 3, 2022.
Target price is $1.48 Current Price is $0.85 Difference: $0.63
If DDH meets the Bell Potter target it will return approximately 74% (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 4.90 cents and EPS of 12.90 cents.
At the last closing share price the estimated dividend yield is 5.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.59.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 5.70 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 6.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.67.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DEG DE GREY MINING LIMITED
Gold & Silver – Overnight Price: $1.01
Canaccord Genuity rates ((DEG)) as Buy (1) –
De Grey Mining has completed definition drilling to support a resource update that is expected in the June quarter. Canaccord Genuity notes the focus is now on exploration and discovery drilling, targeting lateral and deep extensions of the Hemi deposits and exploration at Greater Hemi.
Importantly, capital expenditure remains in line with expectations and the broker envisages potential for the prefeasibility study to deliver a 500,000 ozpa production profile. Speculative Buy rating maintained. Target rises to $2.15 from $2.10.
This report was published on May 4, 2022.
Target price is $2.15 Current Price is $1.01 Difference: $1.14
If DEG meets the Canaccord Genuity target it will return approximately 113% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ELO ELMO SOFTWARE LIMITED
Jobs & Skilled Labour Services – Overnight Price: $3.06
Jarden rates ((ELO)) as Overweight (2) –
A positive third quarter for Elmo Software included annual recurring revenue of $101.2m, reflecting 33% organic growth on the previous comparable period. Jarden notes the result comprised 31% mid-market recurring revenue growth and 47% Breathe recurring revenue growth.
Evidence of operating leverage flowing through should be supportive of sustainable cashflow and funding for the company according to Jarden. Elmo Software reported a solid cash position of $51.4m at the end of March, with $28.3m in cash receipts in the third quarter.
The Overweight rating is retained and the target price decreases to $5.46 from $6.01.
This report was published on May 5, 2022.
Target price is $5.46 Current Price is $3.06 Difference: $2.4
If ELO meets the Jarden target it will return approximately 78% (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 minus 32.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.50.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 27.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.33.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Shaw and Partners rates ((ELO)) as Buy (1) –
Highlights from the latest update, Shaw and Partners assesses, include confirmation Elmo Software is heading for the top end of guidance amid stable cost growth. The company expects to break even in terms of cash flow in the second half of FY23.
With buying trends returning to normal post the pandemic the broker believes now is the time to revisit the stock and reiterates a Buy rating.
Annual recurring revenue in the third quarter grew 33% and surpassed the $100m milestone that most software-as-a-service entities aspire to. Shaw and Partners increases the target to $7.60 from $7.50.
This report was published on May 5, 2022.
Target price is $7.60 Current Price is $3.06 Difference: $4.54
If ELO meets the Shaw and Partners target it will return approximately 148% (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 43.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.08.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 33.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.08.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
FLT FLIGHT CENTRE TRAVEL GROUP LIMITED
Travel, Leisure & Tourism – Overnight Price: $19.62
Goldman Sachs rates ((FLT)) as Neutral (3) –
The trading update signalled strong activity in March with corporate activity at 76% of pre-pandemic levels. Leisure activity was also at 47%. The performance in EMEA is ahead of Goldman Sachs' expectations while the Americas and Australasia are slightly below.
Significantly, Flight Centre Travel has returned to EBITDA profit for the month of March compared with prior commentary that anticipated breakeven. The full year EBITDA loss has been guided at -$195-225m. Neutral rating and $20.40 target.
This report was published on May 5, 2022.
Target price is $20.40 Current Price is $19.62 Difference: $0.78
If FLT meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $18.24, suggesting downside of -7.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 143.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -135.3, 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:
Goldman Sachs forecasts a full year FY23 dividend of 0.00 cents and EPS of 72.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.9, implying annual growth of N/A.
Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 45.7.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
FMG FORTESCUE METALS GROUP LIMITED
Iron Ore – Overnight Price: $19.39
Bell Potter rates ((FMG)) as Downgrade to Sell from Hold (5) –
Fortescue Metals Group's March-quarter iron ore shipments outpaced Bell Potter's forecasts and management raised FY22 production forecasts and cost guidance. While prices improved slightly, these were below the broker's estimate and Bell Potter suspects prices could deteriorate.
Combine this with the higher cost guidance and Bell Potter cites concern for the June quarter but notes the company's strong performance during a traditionally weak quarter sets it apart from rivals.
The company holds net debt of US$2.4bn and a cash balance of US$2.2bn after paying a $2bn interim dividend.
Rating downgraded to Sell from Hold. Target price falls to $17.80 from $19.09.
This report was published on May 4, 2022.
Target price is $17.80 Current Price is $19.39 Difference: minus $1.59 (current price is over target).
If FMG meets the Bell Potter target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.22, suggesting downside of -6.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 258.82 cents and EPS of 260.18 cents.
At the last closing share price the estimated dividend yield is 13.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 301.6, implying annual growth of N/A.
Current consensus DPS estimate is 216.4, implying a prospective dividend yield of 11.2%.
Current consensus EPS estimate suggests the PER is 6.4.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 217.95 cents and EPS of 217.95 cents.
At the last closing share price the estimated dividend yield is 11.24%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 273.0, implying annual growth of -9.5%.
Current consensus DPS estimate is 190.3, implying a prospective dividend yield of 9.8%.
Current consensus EPS estimate suggests the PER is 7.1.
This company reports in USD. 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
HLO HELLOWORLD TRAVEL LIMITED
Travel, Leisure & Tourism – Overnight Price: $2.40
Jarden rates ((HLO)) as Neutral (3) –
For Jarden, the key highlight of Helloworld Travel's third quarter update was the company's strong cost control during the period, with the company reporting an earnings loss of -$1.9m in the quarter compared to -$4.0m in the previous comparable period.
Looking ahead, the broker is hesitant to project third quarter results on to fourth quarter predictions given a lack of detail around the corporate and leisure travel split, although Jarden assumes corporate was profitable and leisure loss-making at the earnings line.
The Neutral rating is retained and the target price increases to $2.87 from $2.46.
This report was published on May 2, 2022.
Target price is $2.87 Current Price is $2.40 Difference: $0.47
If HLO meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 EPS of minus 16.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.81.
Forecast for FY23:
Jarden forecasts a full year FY23 EPS of minus 1.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 184.62.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ING INGHAMS GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $2.96
Bell Potter rates ((ING)) as Downgrade to Hold from Buy (3) –
Inghams Group has guided to a more protracted recovery due to one-offs such as rising operational and feed costs; a channel shift in volume from higher margin retail to wholesale; flooding; and covid absenteeism.
While the company has been attempting to raise prices to offset cost inflation, Bell Potter says ABS data suggests poultry inflation lags other meat products and expects pricing benefits won't be realised until FY23.
The broker raises FY23-FY24 feed-cost estimates in the wake of the Ukraine crisis.
Rating downgraded to Hold from Buy. Target price cut to $3.05 from $4.
This report was published on May 4, 2022.
Target price is $3.05 Current Price is $2.96 Difference: $0.09
If ING meets the Bell Potter target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.36, suggesting upside of 13.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 9.00 cents and EPS of minus 51.10 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.6, implying annual growth of -39.4%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 21.8.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 13.00 cents and EPS of 47.60 cents.
At the last closing share price the estimated dividend yield is 4.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.0, implying annual growth of 69.1%.
Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 12.9.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JBH JB HI-FI LIMITED
Consumer Electronics – Overnight Price: $48.53
Goldman Sachs rates ((JBH)) as Sell (5) –
JB Hi-Fi has signalled momentum is continuing into the fourth quarter though no full year sales guidance was provided. Nevertheless, Goldman Sachs expects that, from FY23, positive influences will reverse and reiterates a Sell rating.
This is based on weakening industry growth, rising competition and disruptions to supply chain as well as cost inflation.
The broker also expects a more defensive stance at The Good Guys against competition from Amazon. Target is raised to $39.20 from $39.00.
This report was published on May 4, 2022.
Target price is $39.20 Current Price is $48.53 Difference: minus $9.33 (current price is over target).
If JBH meets the Goldman Sachs target it will return approximately minus 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $57.31, suggesting upside of 18.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 271.00 cents and EPS of 415.00 cents.
At the last closing share price the estimated dividend yield is 5.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.69.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 416.4, implying annual growth of -5.5%.
Current consensus DPS estimate is 270.8, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 11.7.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 231.00 cents and EPS of 354.00 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 13.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 383.8, implying annual growth of -7.8%.
Current consensus DPS estimate is 243.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((JBH)) as Underweight (4) –
Strong sales in the third quarter have carried momentum into the fourth quarter for JB Hi-Fi, with Jarden noting an acceleration from the end of March despite uncertainty around the housing outlook.
Jarden's updated forecasts now predict 12.9% like-for-like sales growth for JBH Australia, 1.2% growth for JBH New Zealand and 3.0% growth for The Good Guys. Further, the broker lifted its full year earnings forecast 2%, noting this was the fourth upgrade in six months as strong consumer trends persist.
The Underweight rating is retained and the target price decreases to $49.00 from $50.00.
This report was published on May 5, 2022.
Target price is $49.00 Current Price is $48.53 Difference: $0.47
If JBH meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $57.31, suggesting upside of 18.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 289.00 cents and EPS of 444.60 cents.
At the last closing share price the estimated dividend yield is 5.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 416.4, implying annual growth of -5.5%.
Current consensus DPS estimate is 270.8, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 11.7.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 251.00 cents and EPS of 386.10 cents.
At the last closing share price the estimated dividend yield is 5.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 383.8, implying annual growth of -7.8%.
Current consensus DPS estimate is 243.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHG JANUS HENDERSON GROUP PLC
Wealth Management & Investments – Overnight Price: $38.35
Jarden rates ((JHG)) as Underweight (4) –
A -$24m net profit shortfall saw earnings per share from Janus Henderson's first quarter missed Jarden's forecasts by -13%, with the miss attributed to weaker revenues and investment losses on seed assets.
The company now faces a challenging flow and revenue outlook, noting known redemptions of $9m will impact in the year, while performance fees look to be negative for the full year. Jarden also notes the start of a new CEO could signal changes in strategy.
The broker downgrades earnings per share estimates -14.3%, -7.6% and -7.6% through to FY24.
The Underweight rating is retained and the target price decreases to $38.05 from $41.15.
This report was published on May 5, 2022.
Target price is $38.05 Current Price is $38.35 Difference: minus $0.3 (current price is over target).
If JHG 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 $47.75, suggesting upside of 24.5%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 212.51 cents and EPS of 382.78 cents.
At the last closing share price the estimated dividend yield is 5.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 509.4, implying annual growth of N/A.
Current consensus DPS estimate is 230.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 7.5.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 212.51 cents and EPS of 410.03 cents.
At the last closing share price the estimated dividend yield is 5.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 528.1, implying annual growth of 3.7%.
Current consensus DPS estimate is 282.1, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 7.3.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MAQ MACQUARIE TELECOM GROUP LIMITED
Telecommunication – Overnight Price: $60.50
Wilsons rates ((MAQ)) as Initiation of coverage with Market Weight (3) –
Wilsons initiates coverage on data centre, cloud, cyber security and telecom company Macquarie Telecom. The broker expects Macquarie Telecom's FY22 to be focused on data centre investment, anticipating data centres will contribute 45% to FY22 earnings growth, and 80% by FY23.
Wilsons finds the stock to be fairly valued at current levels, but does acknowledge contract wins and strategic land acquisitions for data centre expansion could present upside risk.
The broker initiates with a Market Weight rating and a target price of $74.71.
This report was published on May 5, 2022.
Target price is $74.71 Current Price is $60.50 Difference: $14.21
If MAQ meets the Wilsons target it will return approximately 23% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of 39.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 152.01.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 60.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 99.67.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MBH MAGGIE BEER HOLDINGS LIMITED
Overnight Price: $0.40
Taylor Collison rates ((MBH)) as Initiation of coverage with Outperform & Accumulate (2) –
Taylor Collison initates coverage on Maggie Beer with an Outperform & Accumulate rating and 65c target price.
The broker says Maggie Beer's acquisition of Hampers and Gifts (HGA) has proved transformational for the company, which has benefited from HGA's e-commerce platform and customer base, generating strong cross selling results, stronger margins, improved cash flow and economies of scale.
The broker expects the company will be able to continue to leverage these synergies to drive sales and growth in the higher margin online channel.
A sales agreement with Woolworths should drive greater volume through the Parise Creek Farm facilities, returning the larger dairy business to profit soon, says the broker, potentially yielding strong earnings growth.
Meanwhile, the December half delivered the company's first positive cash flow (ex raisings) and the company is debt free with strong inventory.
This report was published on May 2, 2022.
Target price is $0.65 Current Price is $0.40 Difference: $0.25
If MBH meets the Taylor Collison target it will return approximately 63% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
Forecast for FY21:
Taylor Collison forecasts a full year FY21 EPS of 0.53 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 75.47.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MMM MARLEY SPOON AG
Consumer Products & Services – Overnight Price: $0.40
Canaccord Genuity rates ((MMM)) as Buy (1) –
Marley Spoon AG's first quarter result included a 32% revenue increase, not only beating Canaccord Genuity's expectations but setting a base line for full year revenue according to the broker, with the company guiding to revenue growth in the mid- to high-teens.
The company reported a -EUR9.7m loss, with Canaccord Genuity noting the first quarter normally generates the largest operating earnings loss. With a business run rate of EUR412, Canaccord Genuity finds the business scale to be underrepresented by investors.
The Buy rating is retained and the target price decreases to $2.00 from $2.50.
This report was published on April 28, 2022.
Target price is $2.00 Current Price is $0.40 Difference: $1.6
If MMM meets the Canaccord Genuity target it will return approximately 400% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 17.49 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.29.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 8.43 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.74.
This company reports in EUR. 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
MZZ MATADOR MINING LIMITED
Gold & Silver – Overnight Price: $0.20
Canaccord Genuity rates ((MZZ)) as Buy (1) –
Matador Mining has final results from infill drilling at Window Glass Hill resource. Strike has been doubled to 6km in the target granite and the prospective unit has over 300,000 ounces of gold in two deposits within the original 3km strike area.
The company has also appointed a new CEO, Sam Pazuki. Canaccord Genuity updates its model and assumptions. The target is reduced to $0.60 from $0.70 as the estimated timeframe to commencement of production is pushed out to 2025. Speculative Buy rating retained.
This report was published on May 4, 2022.
Target price is $0.60 Current Price is $0.20 Difference: $0.4
If MZZ meets the Canaccord Genuity target it will return approximately 200% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NCK NICK SCALI LIMITED
Furniture & Renovation – Overnight Price: $9.21
Jarden rates ((NCK)) as Neutral (3) –
Nick Scali delivered an ahead of market update for its second half to date, with Jarden highlighting written orders are up 40% (including a contribution from Plush) despite tough comparable metrics, leaving the company's order bank full at $200m.
Further, shipping and supply chain issues should support a solid revenue outcome in early FY23 as the company addresses its backlog. The update sees Jarden revise its earnings per share forecasts 12% for FY22 and FY23, but -14% for FY24 accounting for housing outlooks.
The Neutral rating is retained and the target price decreases to $12.50 from $13.40.
This report was published on May 5, 2022.
Target price is $12.50 Current Price is $9.21 Difference: $3.29
If NCK meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 86.00 cents and EPS of 107.60 cents.
At the last closing share price the estimated dividend yield is 9.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.56.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 78.40 cents and EPS of 95.10 cents.
At the last closing share price the estimated dividend yield is 8.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.68.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NTO NITRO SOFTWARE LIMITED
IT & Support – Overnight Price: $1.27
Jarden rates ((NTO)) as Buy (1) –
Nitro Software's annual recurring revenue was up 61% at the end of the first quarter, including contributions from the Connective acquisition. Jarden notes Connective appears to have grown 30% in the quarter, which alongside group growth suggests the company should meet the bottom end of its full year recurring revenue guidance range.
However, including anticipated synergies of US$2.5m, recurring revenue could be closer to the top end of the guidance range at year's end, while upside to the current growth rate could see the company deliver a beat.
Jarden highlights the first quarter recurring revenue increase was driven by key customer wins in the period that include Lloyds Banking Group, Subsea 7, NRG Energy, BP, BNP Paribas and Pioneer Natural Resource.
The Buy rating is retained and the target price decreases to $3.36 from $3.54.
This report was published on May 2, 2022.
Target price is $3.36 Current Price is $1.27 Difference: $2.09
If NTO meets the Jarden target it will return approximately 165% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 16.35 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.77.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 12.26 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.36.
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
Shaw and Partners rates ((NTO)) as Buy (1) –
Nitro Software adjusted its FY22 operating earnings (loss) guide to -$15m to -$18m from -$18m to -$21m. The upgrade was due to greater business efficiency and lower investment in FY22 than previously expected, explains Shaw and Partners.
The broker lifts its target price to $2.70 from $2.50 on reduced forecast cash burn due to the lower investment and an increased benefit from working capital.
The analyst highlights management's target to move towards cash flow break-even in the second half of 2023. Buy.
This report was published on May 2, 2022.
Target price is $2.70 Current Price is $1.27 Difference: $1.43
If NTO meets the Shaw and Partners target it will return approximately 113% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY22:
Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 16.62 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.64.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 13.21 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.61.
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
PAR PARADIGM BIOPHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.17
Bell Potter rates ((PAR)) as Buy (1) –
Bell Potter's financial model for Paradigm Biopharmaceuticals is updated for a theoretical equity raise following a re-
assessment of the timing for the clinical program for osteoarthritis. The FDA has granted Fast Track Designation to the program.
The analyst expects clinical program spending to rise in the next few months as site activations and enrolments increase.
The analyst suggests the company's negotiating position will be potentially be improved by a strong balance sheet in future partnering discussions with large pharma companies.
The target price falls by -30% to $2.10 once the potential capital raise is assumed in Bell Potter's forecasts. Buy.
This report was published on May 3, 2022.
Target price is $2.10 Current Price is $1.17 Difference: $0.93
If PAR meets the Bell Potter target it will return approximately 79% (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 0.00 cents and EPS of minus 24.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.83.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 22.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.15.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PBH POINTSBET HOLDINGS LIMITED
Gaming – Overnight Price: $2.56
Bell Potter rates ((PBH)) as Speculative Buy (1) –
A lower than expected 3Q win rate in the US business for PointsBet Holdings was partly offset by a good quarter for the Australian business, explains Bell Potter.
While the broker makes only modest forecast changes, various other changes include a reduction in the expected gross margin and an increased churn rate for the customer lifetime valuation.
As the lowered target price (to $6.00 from $7.50) is at an around 90% premium to the latest share price, the broker maintains its Speculative Buy rating.
This report was published on May 3, 2022.
Target price is $6.00 Current Price is $2.56 Difference: $3.44
If PBH meets the Bell Potter target it will return approximately 134% (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 0.00 cents and EPS of minus 126.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.02.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 124.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.06.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PWH PWR HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $8.42
Bell Potter rates ((PWH)) as Hold (3) –
Bell Potter has reviewed its estimates following a rally in the share price. Revenue forecasts are modestly increased out to FY24 while net profit forecasts are slightly reduced for FY22.
The broker has elected to move away from comparable companies in its analysis that were being used to determine an appropriate multiple in relative valuations, as the drivers may be very different.
The net result is 14% increase in the target to $10.00 from $8.75. Hold maintained.
This report was published on May 4, 2022.
Target price is $10.00 Current Price is $8.42 Difference: $1.58
If PWH meets the Bell Potter target it will return approximately 19% (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 11.10 cents and EPS of 20.20 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 41.68.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 13.30 cents and EPS of 24.60 cents.
At the last closing share price the estimated dividend yield is 1.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.23.
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: $5.29
Jarden rates ((QAN)) as Buy (1) –
Qantas' March-quarter trading update appears to have pleased Jarden, thanks to improved net debt and a stronger earnings outlook.
Jarden sharply upgrades forecasts expecting capacity reductions and yield increases will help manage higher fuel prices.
Forecasts exclude "Project Sunrise" for long-haul flights given details are scant.
Jarden considers an adequate risk-return trade-off exists for investors given strong cash flows continue to support the balance sheet and demand is expected to hold through the June quarter (FY23 is less certain and awaits signs of household discretionary spending).
Buy rating retained. Target price rises to $6.30 from $6.20.
This report was published on May 3, 2022.
Target price is $6.30 Current Price is $5.29 Difference: $1.01
If QAN meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $6.22, suggesting upside of 17.5%(ex-dividends)
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 minus 73.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -68.2, 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 8.10 cents and EPS of 20.20 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 26.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 39.7, implying annual growth of N/A.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 13.3.
Market Sentiment: 0.4
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: $77.16
Goldman Sachs rates ((RHC)) as Neutral (3) –
Ramsay Health Care intends to terminate the hospital purchaser provider agreement with Bupa if no resolution has been reached before the expiration of the existing contract in August.
If there is no resolution, patients insured by Bupa from August 2 onwards will be required to pay an upfront amount on admission.
Goldman Sachs notes the agreement with Bupa is highly significant for the company's domestic business as it has a 26% market share in terms of insured hospital patients. Neutral maintained. Target is $76.
This report was published on May 4, 2022.
Target price is $76.00 Current Price is $77.16 Difference: minus $1.16 (current price is over target).
If RHC meets the Goldman Sachs target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $78.60, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 111.00 cents and EPS of 114.00 cents.
At the last closing share price the estimated dividend yield is 1.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 67.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.6, implying annual growth of -35.5%.
Current consensus DPS estimate is 107.7, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 61.9.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 143.00 cents and EPS of 233.00 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 201.3, implying annual growth of 61.6%.
Current consensus DPS estimate is 137.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.3.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((RHC)) as Downgrade to Overweight from Buy (2) –
Ramsay Health Care has continued to be impacted by covid related disruptions and elevated costs in the third quarter, with Jarden noting a unprecedented level of surgical cancellations in the period as isolation orders continue.
The broker notes this continues to impact on Ramsay Health Care's ability to re-rate its profitability, but Jarden maintains its expectations that an earnings recovery will take place at some time.
However, following the company's third quarter update Jarden has updated its earnings per share forecasts by -13.4%, -4.9% and -0.9% through to FY24.
The rating is downgraded to Overweight from Buy and the target price increases to $88.00 from $81.50 to match the KKR offer.
This report was published on May 2, 2022.
Target price is $88.00 Current Price is $77.16 Difference: $10.84
If RHC meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $78.60, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 128.50 cents and EPS of 137.00 cents.
At the last closing share price the estimated dividend yield is 1.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.6, implying annual growth of -35.5%.
Current consensus DPS estimate is 107.7, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 61.9.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 231.30 cents and EPS of 239.20 cents.
At the last closing share price the estimated dividend yield is 3.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 201.3, implying annual growth of 61.6%.
Current consensus DPS estimate is 137.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.3.
Market Sentiment: 0.1
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 raises its target price for Ramsay Health Care to $81.30 from $66.37 to broadly reflect the recently announced KKR bid price
of $88/share. It's thought the bid is likely to succeed.
Third quarter earnings (EBIT) were an -11% miss versus the broker's forecast with misses in Australia and UK offset by improvements in Europe.
The analyst cuts EPS forecasts for FY22 and FY23 by -25%-and -15% due to less than optimal facility utilisation, increased financing expenses and higher direct operating expenses. The Market Weight rating is maintained.
This report was published on May 6, 2022.
Target price is $81.30 Current Price is $77.16 Difference: $4.14
If RHC meets the Wilsons target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $78.60, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 93.50 cents and EPS of 128.90 cents.
At the last closing share price the estimated dividend yield is 1.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 59.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 124.6, implying annual growth of -35.5%.
Current consensus DPS estimate is 107.7, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 61.9.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 140.30 cents and EPS of 230.20 cents.
At the last closing share price the estimated dividend yield is 1.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 201.3, implying annual growth of 61.6%.
Current consensus DPS estimate is 137.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.3.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SGR STAR ENTERTAINMENT GROUP LIMITED
Gaming – Overnight Price: $3.07
Jarden rates ((SGR)) as Buy (1) –
Extrapolating from other companies, Jarden expects Star Entertainment's March-quarter report will soften due to staff absenteeism
Meanwhile, the NSW inquiry has panned out worse than the broker expected, and the seriousness of revelations leads the broker to remove assumptions that the company will gain extra EGMs and that the company will be found "not suitable" to hold a licence.
Further, Jarden doubts Star will be able to finalise the sale and lease-back transaction of OpCo PropCo in the near term, raising the prospect of higher gearing and dividend vulnerability.
Buy rating retained, Jarden remaining upbeat on the long view noting the property and licences underwrite the valuation.
Target price falls -10% to $3.89 from $4.32 to reflect mainly on expectations of a dividend cut.
This report was published on May 9, 2022.
Target price is $3.89 Current Price is $3.07 Difference: $0.82
If SGR meets the Jarden target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $4.19, suggesting upside of 36.4%(ex-dividends)
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 minus 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 153.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.2, 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 16.00 cents and EPS of 18.50 cents.
At the last closing share price the estimated dividend yield is 5.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.0, implying annual growth of N/A.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 15.3.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SHV SELECT HARVESTS LIMITED
Agriculture – Overnight Price: $6.09
Bell Potter rates ((SHV)) as Buy (1) –
Select Harvests has upgraded FY22 crop guidance and Bell Potter notes the company's costs have fallen while prices are rising.
Bell Potter also reports that US Californian nursery sales and almond acreage figures point to the lowest planting rate since 2011, which, combined with the removal of IQ's estimated 61 acres, points to the lowest year-on-year decline since 2001, which should support prices.
Buy rating retained. Target price rises to $7.40 from $6.60.
This report was published on May 4, 2022.
Target price is $7.40 Current Price is $6.09 Difference: $1.31
If SHV meets the Bell Potter target it will return approximately 22% (excluding dividends, fees and charges).
The company's fiscal year ends in September.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 5.00 cents and EPS of 13.40 cents.
At the last closing share price the estimated dividend yield is 0.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.45.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 9.00 cents and EPS of 24.60 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 24.76.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((SHV)) as Overweight (1) –
Following favourable shifts in the almond market in recent weeks, Wilsons adjusts forecasts for Select Harvests largely around almond pricing and foreign exchange assumptions.
The broker notes Californian shipments in March were at the highest level in a year, while at the same time the current conditions for the Californian almond crop have deteriorated.
As part of a trading update, management reiterated its FY22 crop volume estimate, despite harvest delays and potential for some quality impacts from recent weather.
The target price slips to $7.51 from $8.75 after Wilsons removes a 20% momentum premium. The Overweight rating is unchanged.
This report was published on May 3, 2022.
Target price is $7.51 Current Price is $6.09 Difference: $1.42
If SHV meets the Wilsons target it will return approximately 23% (excluding dividends, fees and charges).
The company's fiscal year ends in September.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
STN SATURN METALS LIMITED
Gold & Silver – Overnight Price: $0.36
Shaw and Partners rates ((STN)) as Buy (1) –
Shaw and Partners increases its target price for Saturn Metals to $0.97 from $0.87 following a 56% resource upgrade at the Apollo Hill Gold project in WA.
A large, bulk mining, heap leach operation is most likely for the project, predicts the analyst. Shares are currently estimated to be valued at $27/oz of resource, which is a significant discount to the peer group average of $73/oz. The Buy rating is maintained.
This report was published on May 3, 2022.
Target price is $0.97 Current Price is $0.36 Difference: $0.61
If STN meets the Shaw and Partners target it will return approximately 169% (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 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 32.73.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 36.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SUL SUPER RETAIL GROUP LIMITED
Automobiles & Components – Overnight Price: $10.00
Jarden rates ((SUL)) as Overweight (2) –
Super Retail March quarter performance was ahead of Jarden's expectations in every division, supported by a record Easter period. The broker noted gross margins were in line with the first quarter and like for like sales were up 4.4%.
The result is particularly strong given the broker's prior expectation of slowing sales in the second half, as well as commentary from the company for anticipated gross margin moderation in the period. The broker's full year earnings per share estimate increases 11%.
The Overweight rating is retained and the target price decreases to $12.00 from $12.40.
This report was published on May 3, 2022.
Target price is $12.00 Current Price is $10.00 Difference: $2
If SUL meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $13.28, suggesting upside of 32.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 54.00 cents and EPS of 99.00 cents.
At the last closing share price the estimated dividend yield is 5.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 98.7, implying annual growth of -26.0%.
Current consensus DPS estimate is 66.2, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.1.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 50.00 cents and EPS of 92.60 cents.
At the last closing share price the estimated dividend yield is 5.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.9, implying annual growth of -9.9%.
Current consensus DPS estimate is 59.4, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 11.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TIE TIETTO MINERALS LIMITED
Gold & Silver – Overnight Price: $0.42
Canaccord Genuity rates ((TIE)) as Buy (1) –
Canaccord Genuity notes Tietto Minerals is on track for first gold in the December quarter. The overall resource has grown marginally and, more importantly, there is now portion of measured resource to underpin the first 1.5 years of production.
The broker updates its modelling and assumptions, noting the dilution of an additional 260m shares issued in lieu of debt financing for Abujar. The price target decreases to $0.85 from $0.90 as a result. Speculative Buy rating unchanged.
This report was published on May 4, 2022.
Target price is $0.85 Current Price is $0.42 Difference: $0.43
If TIE meets the Canaccord Genuity target it will return approximately 102% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TPW TEMPLE & WEBSTER GROUP LIMITED
Furniture & Renovation – Overnight Price: $4.81
Jarden rates ((TPW)) as Overweight (2) –
Sales growth momentum has continued for Temple & Webster in the first four months of the year, with revenue growth of 23% for the period exceeding Jarden's expected 15%. The company has suggested it retains a strong inventory position heading into the fourth quarter, which should provide a buffer for supply chain disruptions.
The company has also recently announced the launch of The Build, its online only home improvement platform. This marks a move into a new segment with low online penetration, and doubles Temple & Webster's addressable market according to the broker.
Earnings per share estimates are revised down by -43% and -48% for FY22 and FY23 respectively.
The Overweight rating is retained and the target price decreases to $9.16 from $15.09.
This report was published on May 5, 2022.
Target price is $9.16 Current Price is $4.81 Difference: $4.35
If TPW meets the Jarden target it will return approximately 90% (excluding dividends, fees and charges).
Current consensus price target is $9.12, suggesting upside of 89.7%(ex-dividends)
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 4.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 117.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.7, implying annual growth of -50.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 84.4.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 92.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.4, implying annual growth of 12.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 75.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TSI TOP SHELF INTERNATIONAL HOLDINGS LIMITED
Food, Beverages & Tobacco – Overnight Price: $1.25
Shaw and Partners rates ((TSI)) as Buy (1) –
Following 3Q results for Top Shelf International, Shaw and Partners decreases its pro forma revenue forecasts to reflect slightly higher than expected expenditure. The target price falls to $2.14 from $2.27 and the Buy rating is unchanged.
The broker believes 3Q revenue was strong, given NED volumes were constrained during January and February.
The analyst suggests the successful NED Cognac release showed an ability to move up the premiumisation curve. During the quarter a national ranging deal was struck with Coles ((COL)) Liquor Group for the NED Whisky and Grainshaker Vodka products.
There's now considered to be potential for further releases into the premium and super premium categories, suggests the broker.
This report was published on May 2, 2022.
Target price is $2.14 Current Price is $1.25 Difference: $0.89
If TSI meets the Shaw and Partners target it will return approximately 71% (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 28.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.40.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 37.88.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((TSI)) as Overweight (1) –
Wilsons assesses a mixed 3Q result for Top Shelf International with available whisky inventory holding back Branded Product sales growth. These sales are expected to materially improve from the 4Q.
A decline of -16% for quarter-on-quarter sales was primarily driven by the Contract Packing division, explains the analyst. Meanwhile, operating costs were broadly stable which is considered to bode well for future operating leverage.
The broker lowers its forecast sales by -19-28% and gross margin assumptions by -20-23%, driven by a slower ramp-up profile and channel/product mix changes, including lower vodka sales. The target falls to $1.80 from $2.02 and Overweight rating retained.
This report was published on May 3, 2022.
Target price is $1.80 Current Price is $1.25 Difference: $0.55
If TSI meets the Wilsons target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 20.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.01.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 15.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.96.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBI UNIVERSAL BIOSENSORS, INC
Medical Equipment & Devices – Overnight Price: $0.50
Bell Potter rates ((UBI)) as Buy (1) –
Universal Biosensors' March-quarter trading update met Bell Potter's forecasts. The company has raised $6m in the period, diluting valuation to $1.15 from $1.25.
Meanwhile, interim results from the companies clinical trials pleased the broker, who says Universal Biosensors' portable device appears to outperform existing monitoring of colorectal, prostate and breast cancer.
The company is also upgrading its engineering capability to boost the manufacture of its portable biosensing devices and electrode strips.
Speculative Buy rating retained. Target price falls to $1.15 from $1.25.
This report was published on May 4, 2022.
Target price is $1.15 Current Price is $0.50 Difference: $0.65
If UBI meets the Bell Potter target it will return approximately 130% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 4.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.90.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.45.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WOW WOOLWORTHS GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $37.64
Jarden rates ((WOW)) as Overweight (2) –
Woolworths Group's March-quarter sales slightly outpaced Jarden's forecasts, thank to market-share growth in food and the full-year contribution of B2B.
Jarden says the only disappointment was NZ, which suffered covid concerns.
Overall, the broker appreciates the margin mix, and rising share of volume but notes NZ is providing a drag.
FY23 EPS forecasts fall -0,6% to reflect the impact from NZ supply-chain costs. The broker estimates a 12.5% compound annual growth rate over FY22 to FY25.
Overweight rating retained. Target price inches up to $41 from $40.
This report was published on May 3, 2022.
Target price is $41.00 Current Price is $37.64 Difference: $3.36
If WOW meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $38.12, suggesting upside of 1.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 76.00 cents and EPS of 114.10 cents.
At the last closing share price the estimated dividend yield is 2.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 120.3, implying annual growth of -27.1%.
Current consensus DPS estimate is 87.7, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 31.3.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 89.00 cents and EPS of 134.70 cents.
At the last closing share price the estimated dividend yield is 2.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 139.6, implying annual growth of 16.0%.
Current consensus DPS estimate is 99.3, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 27.0.
Market Sentiment: -0.1
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 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.
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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