Daily Market Reports | Jun 27 2022
This story features 4DMEDICAL LIMITED, and other companies. For more info SHARE ANALYSIS: 4DX
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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)
4DX A4N ACW ADH ARF AVD BHP CCX CKF CNI COE CQE CQR CRN DSK FBU GMG GNC GPT HCW HDN HMC HPI IPH KMD LOV M7T MPL NHC NSR PBH RBL RDY S32 SCG SCP SM1 SYM TPG UBI VCX WHC WPR
4DX 4DMEDICAL LIMITED
Medical Equipment & Devices – Overnight Price: $0.36
Bell Potter rates ((4DX)) as Buy (1) –
Following a successful pilot program, Bell Potter notes 4DMedical has commenced commercial activities at I-MED and further rollout of the company's XV Lung Ventilation Analysis Software to I-MED clinics is expected in in FY23.
The broker highlights a relationship with I-MED gives the private system exposure to 4DMedical's technology, and is an encouraging endorsement of the clinical benefit. In the US, clinical trials continue, and Bell Potter believes the company could be closer to securing a Veteran Affairs hospital network contract.
The Buy rating is retained and the target price decreases to $0.63 from $1.50.
This report was published on June 24, 2022.
Target price is $0.63 Current Price is $0.36 Difference: $0.27
If 4DX meets the Bell Potter target it will return approximately 75% (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 6.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.45.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 6.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.54.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
A4N ALPHA HPA LIMITED
Aluminium, Bauxite & Alumina – Overnight Price: $0.40
Bell Potter rates ((A4N)) as Buy (1) –
Alpha HPA has reported its Queensland Stage 1 Precursor Production Facility appears on schedule for commissioning in the September quarter, with the development at lock up stage and key equipment on site. Bell Potter anticipates an updated project scope in coming months.
Bell Potter notes the company continues to receive interest and test orders for its suite of aluminium precursor and high purity alumina products, and offtake contracts are expected over the remainder of the year.
The Buy rating is retained and the target price decreases to $0.90 from $0.96.
This report was published on June 24, 2022.
Target price is $0.90 Current Price is $0.40 Difference: $0.5
If A4N meets the Bell Potter target it will return approximately 125% (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 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 100.00.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 57.14.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ACW ACTINOGEN MEDICAL LIMITED
Overnight Price: $0.04
Bell Potter rates ((ACW)) as Speculative Buy (1) –
Bell Potter initiates coverage on Australian drug developer Actinogen Medical with a Speculative Buy rating and $0.044 target price. The company has a single molecular asset, Xanamem, aimed at targeting a number of neurological conditions.
These conditions include Alzheimer’s disease, severe depression and Fragile X syndrome. Xanamem effectively penetrates the brain and reduces cortisol levels found in the central nervous system.
The analyst incorporates conservative assumptions into forecasts regarding a successful deal for the company with a larger pharmaceutical partner to achieve approval and launch of Xanamem.
This report was published on June 23, 2022.
Target price is $0.04 Current Price is $0.04 Difference: $0.004
If ACW meets the Bell Potter target it will return approximately 10% (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 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.33.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ADH ADAIRS LIMITED
Furniture & Renovation – Overnight Price: $1.79
Canaccord Genuity rates ((ADH)) as Downgrade to Hold from Buy (3) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
The broker notes Adairs is particularly exposed to declining demand for home goods, and this drives its significant downwards earnings revision. The broker further highlighted the company operates in a highly competitive category, and will need to work to integrate recent acquisitions.
The rating is downgraded to Hold from Buy and the target price decreases to $2.30 from $3.40.
This report was published on June 22, 2022.
Target price is $2.30 Current Price is $1.79 Difference: $0.51
If ADH meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $3.50, suggesting upside of 91.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 16.50 cents and EPS of 29.80 cents.
At the last closing share price the estimated dividend yield is 9.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 30.4, implying annual growth of -19.4%.
Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 9.8%.
Current consensus EPS estimate suggests the PER is 6.0.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 14.00 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 7.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 33.4, implying annual growth of 9.9%.
Current consensus DPS estimate is 23.3, implying a prospective dividend yield of 12.7%.
Current consensus EPS estimate suggests the PER is 5.5.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARF ARENA REIT
REITs – Overnight Price: $4.20
Goldman Sachs rates ((ARF)) as Neutral (3) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces earnings estimates by -4% on average across its estimates for Arena REIT over FY23-24. Neutral rating maintained. Target is reduced to $4.40 from $4.57.
This report was published on June 22, 2022.
Target price is $4.40 Current Price is $4.20 Difference: $0.2
If ARF meets the Goldman Sachs target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 2.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 16.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.6, implying annual growth of -60.4%.
Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 25.7.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 17.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.3, implying annual growth of 4.2%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 24.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AVD AVADA GROUP LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.88
Shaw and Partners rates ((AVD)) as Buy (1) –
Avada Group has acquired Construct Traffic, extending its operations into Victoria. This acquisition will bring the group to 950 vehicles and almost 2000 traffic controllers and should deliver normalised FY22 revenue of $34.5m and EBITDA of $5m.
Shaw and Partners highlights the strategic rationale in the acquisition, given the company currently operates in just Queensland and NSW. Meanwhile, ongoing disruptions to operations have been flagged because of the weather impacts of La Nina throughout Queensland and NSW.
A recovery to expected trading levels was experienced in June amid improved weather conditions. Revenue is now likely to miss prospectus ($146.6m) with the range of $138.2-138.7m anticipated. The broker retains a Buy rating, reducing the target to $1.29 from $1.40.
This report was published on June 22, 2022.
Target price is $1.29 Current Price is $0.88 Difference: $0.41
If AVD meets the Shaw and Partners target it will return approximately 47% (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 7.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.28.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 5.40 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 6.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.07.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BHP BHP GROUP LIMITED
Bulks – Overnight Price: $40.50
Goldman Sachs rates ((BHP)) as Buy (1) –
The Queensland government has raised coal royalties and included additional tiers, increasing the effective royalty rate when coal prices are above $175/t. Goldman Sachs remains positive about both thermal and metallurgical coal because of supply disruptions.
Within the broker's coverage, BHP Group is one of the only companies with a major impact from Queensland's decision. On balance, higher royalties are negative for earnings per share and valuation and a potential disincentive for new projects and expansion.
In turn, this may reduce medium-long-term supply, particularly for metallurgical coal, and support higher prices for longer. Goldman Sachs reiterates a Buy rating and reduces the target to $49.40 from $50.80.
This report was published on June 22, 2022.
Target price is $49.40 Current Price is $40.50 Difference: $8.9
If BHP meets the Goldman Sachs target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $46.05, suggesting upside of 15.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 485.49 cents and EPS of 645.03 cents.
At the last closing share price the estimated dividend yield is 11.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 644.6, implying annual growth of N/A.
Current consensus DPS estimate is 595.8, implying a prospective dividend yield of 15.0%.
Current consensus EPS estimate suggests the PER is 6.2.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 390.59 cents and EPS of 519.87 cents.
At the last closing share price the estimated dividend yield is 9.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 565.3, implying annual growth of -12.3%.
Current consensus DPS estimate is 452.1, implying a prospective dividend yield of 11.4%.
Current consensus EPS estimate suggests the PER is 7.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CCX CITY CHIC COLLECTIVE LIMITED
Apparel & Footwear – Overnight Price: $1.76
Canaccord Genuity rates ((CCX)) as Buy (1) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
The broker considers City Chic Collective to have the best risk/reward in the sector given medium-term tailwinds. The broker expects the company can deliver top line growth in FY23, anticipating some pricing competition from broader consumer weakness.
The Buy rating is retained and the target price decreases to $2.80 from $4.60.
This report was published on June 22, 2022.
Target price is $2.80 Current Price is $1.76 Difference: $1.04
If CCX meets the Canaccord Genuity target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $3.94, suggesting upside of 118.9%(ex-dividends)
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 12.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.9, implying annual growth of 24.1%.
Current consensus DPS estimate is 1.8, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 15.1.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 13.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.7, implying annual growth of 23.5%.
Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 12.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CKF COLLINS FOODS LIMITED
Food, Beverages & Tobacco – Overnight Price: $8.38
Canaccord Genuity rates ((CKF)) as Downgrade to Hold from Buy (3) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
For Collins Foods, food and wage inflation present key near-term earnings risks. The broker doesn't find the company's 18x earnings multiple isn't unreasonable, but notes Collins Foods will need to successfully navigate cost inflation to retain its multiple.
The rating is downgraded to Hold from Buy and the target price decreases to $8.60 from $14.85.
This report was published on June 22, 2022.
Target price is $8.60 Current Price is $8.38 Difference: $0.22
If CKF meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $12.88, suggesting upside of 50.9%(ex-dividends)
The company's fiscal year ends in May.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 27.50 cents and EPS of 49.50 cents.
At the last closing share price the estimated dividend yield is 3.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.9, implying annual growth of 73.0%.
Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 17.5.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 26.50 cents and EPS of 47.70 cents.
At the last closing share price the estimated dividend yield is 3.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 51.3, implying annual growth of 4.9%.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 16.6.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNI CENTURIA CAPITAL GROUP
Diversified Financials – Overnight Price: $1.89
Goldman Sachs rates ((CNI)) as Neutral (3) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by -9% on average across FY23-24 for Centuria Capital to reflect lower revaluations on average across the platform and higher assumed interest cost. Target is reduced to $2.43 from $3.25. Neutral maintained.
This report was published on June 22, 2022.
Target price is $2.43 Current Price is $1.89 Difference: $0.54
If CNI meets the Goldman Sachs target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $2.75, suggesting upside of 44.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 14.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.0, implying annual growth of -38.9%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.7.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 15.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.0, implying annual growth of N/A.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 12.7.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
COE COOPER ENERGY LIMITED
Crude Oil – Overnight Price: $0.25
Jarden rates ((COE)) as Overweight (2) –
Cooper Energy will purchase the Orbost gas processing plant for $270-330m, with the final price dependent on the performance between transaction completion, expected in late July, and the transfer of the operations in 4-6 months time.
The company will fund the acquisition with a $244m fully underwritten placement and renounceable rights issue.
Jarden expects the transaction will pave the way for the company to improve the plant performance and benefit from higher east coast gas prices. Overweight rating maintained. Target is reduced to $0.30 from $0.32.
This report was published on June 21, 2022.
Target price is $0.30 Current Price is $0.25 Difference: $0.05
If COE meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $0.29, suggesting upside of 25.2%(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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 250.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -10.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 83.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.2, 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 2.1.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CQE CHARTER HALL SOCIAL INFRASTRUCTURE REIT
Childcare – Overnight Price: $3.36
Goldman Sachs rates ((CQE)) as Buy (1) –
Goldman Sachs transfers coverage of Charter Hall Social Infrastructure REIT to another analyst, although makes no changes to the investment view, with a Buy rating maintained.
The stock is assessed to have positive fundamentals with room to pursue investment opportunities. The outlook is favourable given the solid fundamentals for childcare real estate as well as continued government support for the sector. Target is raised to $4.24 from $4.20.
This report was published on June 22, 2022.
Target price is $4.24 Current Price is $3.36 Difference: $0.88
If CQE meets the Goldman Sachs target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 17.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.09.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 18.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.36.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CQR CHARTER HALL RETAIL REIT
REITs – Overnight Price: $3.95
Goldman Sachs rates ((CQR)) as Neutral (3) –
Goldman Sachs transfers coverage of Charter Hall Retail REIT to another analyst although makes no changes to the investment view, with a Neutral rating maintained.
The broker considers the stock fairly valued. The main risk is general economic weakness that may affect tenant demand and changes, either positive or negative, in consumer sentiment that may affect the company's ability to maintain occupancy and income growth. Target is reduced to $4.13 from $4.18.
This report was published on June 22, 2022.
Target price is $4.13 Current Price is $3.95 Difference: $0.18
If CQR meets the Goldman Sachs target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $4.22, suggesting upside of 6.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 28.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.5, implying annual growth of -44.0%.
Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 13.9.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 29.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.4, implying annual growth of -0.4%.
Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 13.9.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CRN CORONADO GLOBAL RESOURCES INC
Coal – Overnight Price: $1.63
Goldman Sachs rates ((CRN)) as Buy (1) –
The Queensland government has raised coal royalties and included additional tiers, increasing the effective royalty rate when coal prices are above $175/t. Goldman Sachs remains positive about both thermal and metallurgical coal because of supply disruptions.
Within the broker's coverage, Coronado Global Resources is one of the only companies with a major impact from Queensland's decision. On balance, higher royalties are negative for earnings per share and valuation and a potential disincentive for new projects and expansion.
In turn, this may reduce medium-long-term supply, particularly for metallurgical coal, and support higher prices for longer. Goldman Sachs reiterates a Buy rating and reduces the target to $2.70 from $3.10.
This report was published on June 22, 2022.
Target price is $2.70 Current Price is $1.63 Difference: $1.07
If CRN meets the Goldman Sachs target it will return approximately 66% (excluding dividends, fees and charges).
Current consensus price target is $2.83, suggesting upside of 76.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 88.02 cents and EPS of 127.91 cents.
At the last closing share price the estimated dividend yield is 54.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 1.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.4, implying annual growth of N/A.
Current consensus DPS estimate is 67.8, implying a prospective dividend yield of 42.1%.
Current consensus EPS estimate suggests the PER is 1.7.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 37.13 cents and EPS of 41.26 cents.
At the last closing share price the estimated dividend yield is 22.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.2, implying annual growth of -35.9%.
Current consensus DPS estimate is 47.1, implying a prospective dividend yield of 29.3%.
Current consensus EPS estimate suggests the PER is 2.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DSK DUSK GROUP LIMITED
Household & Personal Products – Overnight Price: $1.72
Canaccord Genuity rates ((DSK)) as Buy (1) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
For Dusk Group, the broker notes a healthy net cash balance, a strong market positive relative to competitors, and a lower basket price all support its rating. Canaccord Genuity sees potential upside in expansion into broader wellness categories and international markets, but does note a costly regional footprint.
The Buy rating is retained and the target price decreases to $2.05 from $2.73.
This report was published on June 22, 2022.
Target price is $2.05 Current Price is $1.72 Difference: $0.33
If DSK meets the Canaccord Genuity target it will return approximately 19% (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 20.00 cents and EPS of 26.20 cents.
At the last closing share price the estimated dividend yield is 11.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.56.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 17.00 cents and EPS of 19.70 cents.
At the last closing share price the estimated dividend yield is 9.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.73.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
FBU FLETCHER BUILDING LIMITED
Building Products & Services – Overnight Price: $4.58
Jarden rates ((FBU)) as Overweight (2) –
Fletcher Building has retained FY22 EBIT guidance of NZ$750m, implying a second-half EBIT margin of 9.5%.
Over the medium term the company is targeting 100-200 basis points in margin uplift equating to NZ$150-300m uplift in EBIT, although Jarden highlights this as implied at current market volumes.
Overweight maintained. Target is NZ$6.14.
This report was published on June 22, 2022.
Current Price is $4.58. Target price not assessed.
Current consensus price target is $7.50, suggesting upside of 66.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 EPS of 56.09 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.3, implying annual growth of N/A.
Current consensus DPS estimate is 35.7, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 9.0.
Forecast for FY23:
Jarden forecasts a full year FY23 EPS of 65.65 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 54.7, implying annual growth of 8.7%.
Current consensus DPS estimate is 38.2, implying a prospective dividend yield of 8.5%.
Current consensus EPS estimate suggests the PER is 8.2.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GMG GOODMAN GROUP
Infra & Property Developers – Overnight Price: $18.09
Goldman Sachs rates ((GMG)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs envisages the main risks for Goodman Group stem from the cyclical nature of real estate values as it derives a large proportion of operating income from funds management fees which are largely tied to the market value of assets under management.
Development risk also exists. On average, the broker makes earnings revisions of less than -1% across its FY23-24 estimates to reflect higher assumed interest costs. Buy rating maintained. Target is unchanged at $25.40.
This report was published on June 22, 2022.
Target price is $25.40 Current Price is $18.09 Difference: $7.31
If GMG meets the Goldman Sachs target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $24.24, suggesting upside of 32.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 80.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 81.3, implying annual growth of -35.1%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 22.5.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 93.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.4, implying annual growth of 13.7%.
Current consensus DPS estimate is 32.3, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 19.8.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GNC GRAINCORP LIMITED
Agriculture – Overnight Price: $9.17
Wilsons rates ((GNC)) as Market Weight (3) –
While GrainCorp has outlined various initiatives which have potential to deliver significant long-term growth, Wilsons notes these are at an early stage and intangible when compared to the fixed asset business.
Nevertheless, the core business continues to perform well, underpinned by strong grain volumes and elevated margins. As a result, the broker notes there is substantial balance-sheet capacity to fund investment in growth initiatives.
Market Weight rating maintained. Target is reduced to $8.80 from $9.71.
This report was published on June 22, 2022.
Target price is $8.80 Current Price is $9.17 Difference: minus $0.37 (current price is over target).
If GNC meets the Wilsons target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.22, suggesting upside of 15.0%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 48.00 cents and EPS of 153.00 cents.
At the last closing share price the estimated dividend yield is 5.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 157.9, implying annual growth of 159.0%.
Current consensus DPS estimate is 84.8, implying a prospective dividend yield of 9.5%.
Current consensus EPS estimate suggests the PER is 5.6.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 34.00 cents and EPS of 63.30 cents.
At the last closing share price the estimated dividend yield is 3.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 102.6, implying annual growth of -35.0%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 8.7.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GPT GPT GROUP
Infra & Property Developers – Overnight Price: $4.29
Goldman Sachs rates ((GPT)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
The broker reduces earnings estimates for GPT Group by -4% on average across FY22-24. Buy rating maintained. Target is reduced to $5.27 from $5.45.
This report was published on June 22, 2022.
Target price is $5.27 Current Price is $4.29 Difference: $0.98
If GPT meets the Goldman Sachs target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $5.10, suggesting upside of 17.5%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 31.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.5, implying annual growth of -57.4%.
Current consensus DPS estimate is 24.8, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 13.8.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 32.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 32.3, implying annual growth of 2.5%.
Current consensus DPS estimate is 25.5, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 13.4.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HCW HEALTHCO HEALTHCARE & WELLNESS REIT
REITs – Overnight Price: $1.45
Goldman Sachs rates ((HCW)) as Buy (1) –
Goldman Sachs makes earnings revisions of -4% on average across FY23-24 estimates for HealthCo Healthcare & Wellness REIT, reflecting higher assumed interest costs in outer years.
Accordingly, the target is reduced to $2.35 from $2.40. Buy rating maintained.
This report was published on June 22, 2022.
Target price is $2.35 Current Price is $1.45 Difference: $0.9
If HCW meets the Goldman Sachs target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $2.35, suggesting upside of 61.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.8, implying annual growth of N/A.
Current consensus DPS estimate is 7.9, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 21.3.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 7.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.4, implying annual growth of 38.2%.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 15.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HDN HOMECO DAILY NEEDS REIT
REITs – Overnight Price: $1.32
Goldman Sachs rates ((HDN)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs makes earnings revisions of less than -1% on average across its FY23-24 estimates for HomeCo Daily Needs REIT. Buy rating and $1.65 target maintained.
This report was published on June 22, 2022.
Target price is $1.65 Current Price is $1.32 Difference: $0.33
If HDN meets the Goldman Sachs target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $1.53, suggesting upside of 15.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 8.00 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.8, implying annual growth of 54.7%.
Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 15.0.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 9.00 cents and EPS of 8.90 cents.
At the last closing share price the estimated dividend yield is 6.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.0, implying annual growth of 2.3%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HMC HOME CONSORTIUM LIMITED
Wealth Management & Investments – Overnight Price: $4.36
Goldman Sachs rates ((HMC)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by less than -1% on average across FY23-24 for Home Consortium and lowers the target to $6.86 from $7.38. Buy rating maintained.
This report was published on June 22, 2022.
Target price is $6.86 Current Price is $4.36 Difference: $2.5
If HMC meets the Goldman Sachs target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $6.66, suggesting upside of 52.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 12.00 cents and EPS of 28.10 cents.
At the last closing share price the estimated dividend yield is 2.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.1, implying annual growth of N/A.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.1.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 12.00 cents and EPS of 31.10 cents.
At the last closing share price the estimated dividend yield is 2.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.6, implying annual growth of -15.5%.
Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 17.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HPI HOTEL PROPERTY INVESTMENTS LIMITED
Infra & Property Developers – Overnight Price: $3.22
Goldman Sachs rates ((HPI)) as Neutral (3) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by -4% on average across FY23-24 for Hotel Property Investments. Neutral maintained. Target is reduced to $3.43 from $3.56.
This report was published on June 22, 2022.
Target price is $3.43 Current Price is $3.22 Difference: $0.21
If HPI meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 21.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.26.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 21.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.98.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IPH IPH LIMITED
Legal – Overnight Price: $7.72
Jarden rates ((IPH)) as Buy (1) –
Jarden transfers coverage to another analyst and notes IPH is more stable now, with the company signalling it has experienced no impact from the deterioration in the macro economic environment.
The main catalyst is acquisition-led growth, in the broker's view, as IPH strengthened its balance sheet throughout the pandemic and reduced net debt.
The broker likes the stock for its relative defensiveness in volatile conditions and retains a Buy rating. Target is reduced to $9.49 from $10.09.
This report was published on June 21, 2022.
Target price is $9.49 Current Price is $7.72 Difference: $1.77
If IPH meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
KMD KMD BRANDS LIMITED
Sports & Recreation – Overnight Price: $1.03
Canaccord Genuity rates ((KMD)) as Hold (3) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
For KMD Brands, macroeconomic pressures support a greater chance of slowing Rip Curl comps offsetting increased demand for Kathmandu products, according to the broker. Canaccord Genuity notes the company operates in a competitive category, and margins may be challenged by weak demand.
The Hold rating is retained and the target price declines to $1.05 from $1.26.
This report was published on June 22, 2022.
Target price is $1.05 Current Price is $1.03 Difference: $0.02
If KMD meets the Canaccord Genuity target it will return approximately 2% (excluding dividends, fees and charges).
The company's fiscal year ends in July.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 5.16 cents and EPS of 4.22 cents.
At the last closing share price the estimated dividend yield is 5.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.40.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 6.00 cents and EPS of 8.16 cents.
At the last closing share price the estimated dividend yield is 5.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.62.
This company reports in NZD. 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
LOV LOVISA HOLDINGS LIMITED
Retailing – Overnight Price: $13.17
Canaccord Genuity rates ((LOV)) as Buy (1) –
Canaccord Genuity anticipates Australian consumers will increasingly feel the impacts of an inflationary environment in the coming year, and as a result has applied a more bearish outlook to its retail coverage.
The broker considers Lovisa Holdings to be well-positioned for reopening following the covid pandemic. The company has a record of executing well on products, and its low spend accessories will likely perform well moving forward. The broker notes exposure to markets where pandemic impacts may persists or return remains a risk.
The Buy rating is retained and the target price decreases to $13.70 from $19.40.
This report was published on June 22, 2022.
Target price is $13.70 Current Price is $13.17 Difference: $0.53
If LOV meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $20.67, suggesting upside of 52.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 41.00 cents and EPS of 45.30 cents.
At the last closing share price the estimated dividend yield is 3.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.8, implying annual growth of 115.6%.
Current consensus DPS estimate is 54.4, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 27.2.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 41.50 cents and EPS of 54.60 cents.
At the last closing share price the estimated dividend yield is 3.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 62.6, implying annual growth of 25.7%.
Current consensus DPS estimate is 51.7, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 21.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
M7T MACH7 TECHNOLOGIES LIMITED
Healthcare services – Overnight Price: $0.45
Shaw and Partners rates ((M7T)) as Buy (1) –
Mach7 Technologies has renewed the contract with Cabell Huntington Hospital for a total value of $2.8m. Shaw and Partners believes this is a strong validation of the Mach7/eUnity product and strength of the relationship.
The subscription model increases recurring revenue and the broker estimates average recurring revenue growth in FY23 is now likely to be locked in at more than 30%. The broker reiterates a Buy rating and a $1.20 target.
This report was published on June 22, 2022.
Target price is $1.20 Current Price is $0.45 Difference: $0.75
If M7T meets the Shaw and Partners target it will return approximately 167% (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 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.00.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.31.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MPL MEDIBANK PRIVATE LIMITED
Insurance – Overnight Price: $3.25
Jarden rates ((MPL)) as Overweight (2) –
Medibank Private will direct a further $205m in permanent pandemic-related claim savings into additional customer premium support.
This initiative should, Jarden asserts, prevent downgrading and customer lapses for longer, assisting policyholder volumes, premium and net margins into FY23.
Allowing for revisions to earnings estimates as well as a lower market PE and higher DCF risk-free rates the broker reduces the target to $3.40 from $3.45. Overweight maintained.
This report was published on June 22, 2022.
Target price is $3.40 Current Price is $3.25 Difference: $0.15
If MPL meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.46, suggesting upside of 7.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 13.60 cents and EPS of 14.50 cents.
At the last closing share price the estimated dividend yield is 4.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.6, implying annual growth of -2.6%.
Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 20.7.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 15.40 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 4.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.5, implying annual growth of 5.8%.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 19.6.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NHC NEW HOPE CORPORATION LIMITED
Coal – Overnight Price: $3.31
Goldman Sachs rates ((NHC)) as Sell (5) –
The Queensland government has raised coal royalties and included additional tiers, increasing the effective royalty rate when coal prices are above $175/t. Goldman Sachs remains positive about both thermal and metallurgical coal because of supply disruptions.
On balance, higher royalties are negative for earnings per share and valuation and a potential disincentive for new projects and expansion. In turn, this may reduce medium-long-term supply, particularly for metallurgical coal, and support higher prices for longer.
Yet the broker points out New Hope's Bengalla thermal assets are both in NSW and the state budget left coal royalty arrangements unchanged. Sell maintained. Target is steady at $3.30.
This report was published on June 22, 2022.
Target price is $3.30 Current Price is $3.31 Difference: minus $0.01 (current price is over target).
If NHC meets the Goldman Sachs target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.87, suggesting upside of 18.3%(ex-dividends)
The company's fiscal year ends in July.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 81.00 cents and EPS of 137.00 cents.
At the last closing share price the estimated dividend yield is 24.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 99.3, implying annual growth of 942.0%.
Current consensus DPS estimate is 67.0, implying a prospective dividend yield of 20.5%.
Current consensus EPS estimate suggests the PER is 3.3.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 42.00 cents and EPS of 114.00 cents.
At the last closing share price the estimated dividend yield is 12.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 141.5, implying annual growth of 42.5%.
Current consensus DPS estimate is 77.8, implying a prospective dividend yield of 23.8%.
Current consensus EPS estimate suggests the PER is 2.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NSR NATIONAL STORAGE REIT
REITs – Overnight Price: $2.25
Goldman Sachs rates ((NSR)) as Sell (5) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by -4% on average across FY23-24 for National Storage REIT. Sell maintained. Target is reduced to $2.15 from $2.19.
This report was published on June 22, 2022.
Target price is $2.15 Current Price is $2.25 Difference: minus $0.1 (current price is over target).
If NSR meets the Goldman Sachs target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.45, suggesting upside of 7.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 10.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.1, implying annual growth of -66.7%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 22.5.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 10.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, implying annual growth of 4.0%.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 21.6.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PBH POINTSBET HOLDINGS LIMITED
Gaming – Overnight Price: $2.44
Bell Potter rates ((PBH)) as Speculative Buy (1) –
PointsBet Holdings has placed 38.75m shares at an issue price of $2.43 to SIG Sports. This will raise $94.2m and result in SIG Sports becoming the largest shareholder. The company has also entered an agreement with Nellie Analytics to provide sports analytics and quantitative modelling services.
While updating for the placement Bell Potter makes no changes to underlying revenue or earnings forecasts. The broker's analysis suggests there is sufficient cash for at least another year and then the company has the ability to raise funds in FY24 through the deferred bonus equity options, if necessary. Speculative Buy rating maintained. Target is reduced to $5.25 from $6.00.
This report was published on June 21, 2022.
Target price is $5.25 Current Price is $2.44 Difference: $2.81
If PBH meets the Bell Potter target it will return approximately 115% (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 126.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 1.94.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 108.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.26.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RBL REDBUBBLE LIMITED
Software & Services – Overnight Price: $0.78
Jarden rates ((RBL)) as Neutral (3) –
Jarden assesses the medium-term growth targets for Redbubble may need to come down or be pushed out. Forecasts imply the business will fall short of its marketplace revenue target of $1.25 bn over the 10-year forecast period.
The broker also has FY25 EBITDA margin forecasts of 4.4%, well below management's target of 13-18%.
The company is actively exploring value-enhancing options, which the broker assesses will be underpinned by the cash balance and the ongoing investment in organic growth.
Coverage is transferred to another analyst and a Neutral rating is maintained. Target is reduced to $0.93 from $2.04.
This report was published on June 22, 2022.
Target price is $0.93 Current Price is $0.78 Difference: $0.15
If RBL meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $1.60, suggesting upside of 95.1%(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 4.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -7.8, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 390.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -4.7, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RDY READYTECH HOLDINGS LIMITED
Software & Services – Overnight Price: $2.85
Goldman Sachs rates ((RDY)) as Resume Coverage with Buy (1) –
Goldman Sachs resumes coverage with a Buy rating and $4.60 target. The broker believes the market has given ReadyTech little credit for the improving growth profile.
The stock is trading at a heavily-discounted valuation relative to peers on both an absolute and growth-adjusted basis, which Goldman Sachs expects to narrow. The acquisition of IT Vision appears consistent with the company's strategy to build a niche in complex, under-served end markets.
This report was published on June 22, 2022.
Target price is $4.60 Current Price is $2.85 Difference: $1.75
If RDY meets the Goldman Sachs target it will return approximately 61% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 0.00 cents and EPS of 13.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.92.
Forecast for FY23:
Goldman Sachs 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 17.81.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
S32 SOUTH32 LIMITED
Mining – Overnight Price: $4.05
Goldman Sachs rates ((S32)) as Buy (1) –
The Queensland government has raised coal royalties and included additional tiers, increasing the effective royalty rate when coal prices are above $175/t. Goldman Sachs remains positive about both thermal and metallurgical coal because of supply disruptions.
On balance, higher royalties are negative for earnings per share and valuation and a potential disincentive for new projects and expansion. In turn, this may reduce medium-long-term supply, particularly for metallurgical coal, and support higher prices for longer.
In terms of South32, the broker highlights its Illawarra metallurgical coal assets are in NSW where the state budget left royalty arrangements unchanged. Goldman Sachs retains a Buy rating and an unchanged target of $5.90.
This report was published on June 22, 2022.
Target price is $5.90 Current Price is $4.05 Difference: $1.85
If S32 meets the Goldman Sachs target it will return approximately 46% (excluding dividends, fees and charges).
Current consensus price target is $5.79, suggesting upside of 48.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 41.26 cents and EPS of 71.52 cents.
At the last closing share price the estimated dividend yield is 10.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.6, implying annual growth of N/A.
Current consensus DPS estimate is 38.2, implying a prospective dividend yield of 9.8%.
Current consensus EPS estimate suggests the PER is 4.6.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 67.39 cents and EPS of 94.90 cents.
At the last closing share price the estimated dividend yield is 16.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.3, implying annual growth of 13.8%.
Current consensus DPS estimate is 43.7, implying a prospective dividend yield of 11.2%.
Current consensus EPS estimate suggests the PER is 4.1.
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
SCG SCENTRE GROUP
REITs – Overnight Price: $2.64
Goldman Sachs rates ((SCG)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by less than -1% on average across FY23-24 for Scentre Group. Buy rating maintained with the target edging down to $3.35 from $3.36.
This report was published on June 22, 2022.
Target price is $3.35 Current Price is $2.64 Difference: $0.71
If SCG meets the Goldman Sachs target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $2.98, suggesting upside of 12.8%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 19.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.2, implying annual growth of 12.1%.
Current consensus DPS estimate is 15.0, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 13.8.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 21.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.5, implying annual growth of 6.8%.
Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SCP SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP RE LIMITED
REITs – Overnight Price: $2.83
Goldman Sachs rates ((SCP)) as Sell (5) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by -1% on average across FY23-24 for Shopping Centres Australasia Property. Sell maintained. Target is reduced to $2.57 from $2.59.
This report was published on June 22, 2022.
Target price is $2.57 Current Price is $2.83 Difference: minus $0.26 (current price is over target).
If SCP meets the Goldman Sachs target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.95, suggesting upside of 3.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 17.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.0, implying annual growth of -60.4%.
Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 16.7.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 18.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.55.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.7, implying annual growth of 4.1%.
Current consensus DPS estimate is 15.2, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 16.0.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SM1 SYNLAIT MILK LIMITED
Dairy – Overnight Price: $2.95
Bell Potter rates ((SM1)) as Downgrade to Hold from Buy (3) –
Bell Potter has adjusted its forecasts for Synlait Milk, accounting for softer than expected shipping volumes, noting volumes slowed -53% year-on-year in the past four months. The broker highlights shipment volumes typically correlate with the company's reported sales volume.
Downgrades to its anticipated infant milk formula sales volumes results in a decrease to Bell Potter's net profit forecasts of -17% in FY22, -7% in FY23 and -4% in FY24, but a material new contract with Pokeno should drive some recovery from FY23.
The rating is downgraded to Hold from Buy and the target price decreases to $3.20 from $3.70.
This report was published on June 24, 2022.
Target price is $3.20 Current Price is $2.95 Difference: $0.25
If SM1 meets the Bell Potter target it will return approximately 8% (excluding dividends, fees and charges).
The company's fiscal year ends in July.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of 11.44 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.78.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 14.73 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.03.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SYM SYMBIO HOLDINGS LIMITED
Telecommunication – Overnight Price: $3.80
Moelis rates ((SYM)) as Buy (1) –
Symbio Holdings' market update has the company on track to reach the lower end of its full year earnings guidance range of $35-38m, as noted by Moelis. The broker adjusts its FY22 earnings forecast to $35m from $36m, and its FY23 forecast to $38m from $41m.
While feedback from key customers has been supportive of Symbio Holdings' South East Asia growth plans, the company reported some delays to rollout. Despite onboarding delays in Singapore, the company outlined a strong pipeline for the region, while Malaysia is expected to launch by December.
The Buy rating is retained and the target price decreases to $4.76 from $7.63.
This report was published on June 23, 2022.
Target price is $4.76 Current Price is $3.80 Difference: $0.96
If SYM meets the Moelis target it will return approximately 25% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Moelis forecasts a full year FY22 dividend of 8.20 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 2.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.14.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 10.60 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 2.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.09.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TPG TPG TELECOM LIMITED
Telecommunication – Overnight Price: $5.86
Goldman Sachs rates ((TPG)) as Neutral (3) –
In its first Investor Day post-merger, TPG Telecom highlighted mobile opportunity remains its key growth driver, with Goldman Sachs noting its potential multi-operator core network deal with Telstra ((TLS)) is set to expand the company's addressable market 60%.
The broker highlights mobile average revenue per unit and roaming revenues continue to recover, now at 50% of pre-covid levels but with potential to recover to above 90%. The company also anticipates subscriber growth above 120,000 in the first half, skewed to pre-paid.
The Neutral rating is retained and the target price increases to $6.20 from $6.10.
This report was published on June 24, 2022.
Target price is $6.20 Current Price is $5.86 Difference: $0.34
If TPG meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.02, suggesting upside of 19.9%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 18.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.7, implying annual growth of 199.0%.
Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 33.1.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 20.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.9, implying annual growth of 23.7%.
Current consensus DPS estimate is 21.0, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 26.8.
Market Sentiment: 0.7
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: $0.32
Canaccord Genuity rates ((UBI)) as Buy (1) –
Universal Biosensors has warned that technical challenges with its fructose test, a key part of its total sugar test, has caused delays to the rollout of its next wine analyser tests. Canaccord Genuity notes the company guided to the deferral of $2.2m in expected revenue in FY22.
While the broker has reduced its FY22 forecast accordingly, noting the tests were expected to launch in the June half but are now anticipated by December, but retained its forecasts for FY23. The delay sees Canaccord Genuity reduce its FY22 revenue estimate -20%.
The Speculative Buy rating is retained and the target price decreases to $0.72 from $1.05.
This report was published on June 22, 2022.
Target price is $0.72 Current Price is $0.32 Difference: $0.4
If UBI meets the Canaccord Genuity target it will return approximately 125% (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 7.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.57.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.71.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
VCX VICINITY CENTRES
REITs – Overnight Price: $1.84
Goldman Sachs rates ((VCX)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs makes no changes to estimates for Vicinity Centres, having incorporated higher assumed costs after the recent guidance update, and retains a Buy rating with a $2.10 target.
This report was published on June 22, 2022.
Target price is $2.10 Current Price is $1.84 Difference: $0.26
If VCX meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.91, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 EPS of 12.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.5, implying annual growth of N/A.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 16.1.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 13.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.6, implying annual growth of 9.6%.
Current consensus DPS estimate is 10.6, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WHC WHITEHAVEN COAL LIMITED
Coal – Overnight Price: $4.61
Goldman Sachs rates ((WHC)) as Buy (1) –
The Queensland government has raised coal royalties and included additional tiers, increasing the effective royalty rate when coal prices are above $175/t. Goldman Sachs remains positive about both thermal and metallurgical coal because of supply disruptions.
On balance, higher royalties are negative for earnings per share and valuation and a potential disincentive for new projects and expansion. In turn, this may reduce medium-long-term supply, particularly for metallurgical coal, and support higher prices for longer.
Yet the broker highlights Whitehaven Coal's Winchester South development in Queensland will not start production until after 2026. Goldman Sachs retains a Buy rating and an unchanged target of $6.40.
This report was published on June 22, 2022.
Target price is $6.40 Current Price is $4.61 Difference: $1.79
If WHC meets the Goldman Sachs target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $6.37, suggesting upside of 42.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 58.00 cents and EPS of 188.00 cents.
At the last closing share price the estimated dividend yield is 12.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 146.4, implying annual growth of N/A.
Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 10.4%.
Current consensus EPS estimate suggests the PER is 3.1.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 52.00 cents and EPS of 214.00 cents.
At the last closing share price the estimated dividend yield is 11.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 207.4, implying annual growth of 41.7%.
Current consensus DPS estimate is 76.5, implying a prospective dividend yield of 17.1%.
Current consensus EPS estimate suggests the PER is 2.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WPR WAYPOINT REIT LIMITED
REITs – Overnight Price: $2.32
Goldman Sachs rates ((WPR)) as Buy (1) –
Given the sell-off in A-REITs and sharp increase in debt financing, Goldman Sachs reviews the sector, anticipating those that are more leveraged could underperform.
The broker estimates that a -10% decline in asset valuations would result in gearing increasing by 250 basis points on average. Moreover, a 100 basis points increase to interest rates equates to a -3% decline in earnings on average across its coverage.
Goldman Sachs reduces estimates for earnings by -4% on average across FY23-24 for Waypoint REIT and reduces the target to $3.06 from $3.16. Buy rating maintained.
This report was published on June 22, 2022.
Target price is $3.06 Current Price is $2.32 Difference: $0.74
If WPR meets the Goldman Sachs target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $2.92, suggesting upside of 25.5%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 8.00 cents and EPS of 16.40 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.1, implying annual growth of -71.8%.
Current consensus DPS estimate is 16.7, implying a prospective dividend yield of 7.2%.
Current consensus EPS estimate suggests the PER is 14.5.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 8.00 cents and EPS of 16.20 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.7, implying annual growth of 3.7%.
Current consensus DPS estimate is 16.9, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide 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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