Australian Broker Call *Extra* Edition – Jul 08, 2022

This story features ATOMOS LIMITED, and other companies. For more info SHARE ANALYSIS: AMS

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

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

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

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

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

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

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

COMPANIES DISCUSSED IN THIS ISSUE

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

AMS   APM   AX1   BUB   COI   EBR   GOR   IAG   IPH   MPL   NHF   QBE   RRL   SUN   UNI  

AMS    ATOMOS LIMITED

Consumer Electronics – Overnight Price: $0.35

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

Atomos reported record FY22 sales, has hit margin guidance, and met Shaw and Partners' forecasts.

The broker considers the shares attractive at the current price. A strong fourth quarter boosts the broker's confidence in FY23 and Shaw expects a strong bounce as confidence returns.

If not, Shaw expects a strategic interest will enter the scene. Management indicated that earnings (EBITDA) will fall at the lower end of consensus, again in-line with the broker.

Buy, High Risk, retained. The target price is steady at 73c and compares with the April target of $1.80.

This report was published on July 6, 2022.

Target price is $0.73 Current Price is $0.35 Difference: $0.38
If AMS meets the Shaw and Partners target it will return approximately 109% (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 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.29.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.86.

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

APM    APM HUMAN SERVICES INTERNATIONAL LIMITED

Healthcare – Overnight Price: $3.39

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

APM Human Services International has refinanced its debt in a move expected to yield an annual $10.5m benefit.

Goldman Sachs expects the $810m multi-currency facility will enable the company to execute on its bolt-on acquisition strategy, most likely in the domestic NDIS/aged-care sector.

Heading into the results, Goldman Sachs expects the company will outpace guidance given a strong second half and the Australian post-covid reopening.

The broker forecasts an FY21-FY24 compound annual growth rate of 23% in EPS, noting the escalation of the Workforce Australia contract; potential upside from its Disability Employment Services contract, opportunities in Allied Health and the NDIS; eligibility for the UK's Restart program; and the rollout of its employment service in Sweden.

Goldman Sachs also views the macro environment to be a plus for the company given its employment programs are hedged against unemployment.

Buy rating retained. Target price is $4.20. which compares with $4 in March.

This report was published on July 5, 2022.

Target price is $4.20 Current Price is $3.39 Difference: $0.81
If APM meets the Goldman Sachs target it will return approximately 24% (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 7.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 2.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.11.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 15.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.41.

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

AX1    ACCENT GROUP LIMITED

Apparel & Footwear – Overnight Price: $1.38

Wilsons rates ((AX1)) as Overweight (1) –

As part of May retail sales data, year-on-year figures show a strong result driven by footwear and accessories and clothing. May was the fourth consecutive month of double-digit growth for these two categories.

Wilsons believes the data show the resilience of customers in these categories, which is a positive read-through for Accent Group.

The Overweight rating is retained, while the research note did not provide a target price. The last update on the FNArena database suggests the target remains at $2.20.

This report was published on July 6, 2022.

Target price is $2.20 Current Price is $1.38 Difference: $0.82
If AX1 meets the Wilsons target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $1.43, suggesting upside of 3.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 6.30 cents and EPS of 7.50 cents.
At the last closing share price the estimated dividend yield is 4.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.6, implying annual growth of -39.5%.
Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 16.0.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 10.70 cents and EPS of 12.80 cents.
At the last closing share price the estimated dividend yield is 7.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.3, implying annual growth of 43.0%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 11.2.

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

BUB    BUBS AUSTRALIA LIMITED

Dairy – Overnight Price: $0.56

Wilsons rates ((BUB)) as Market Weight (3) –

Bubs Australia is embarking on an equity raising to fund working capital and upgrade its production facilities.

The signing of a new Daigou channel partnership in China, followed by a growing opportunity in the US after receiving approval to import six of its products to meet the infant formula shortages, are behind the raising.

Wilsons advises some caution given the inventory issues which have plagued the market, but says the US approval offers a solid opportunity for this company, which expects sales of $55m within the Enforcement Discretion.

The broker says the company is now targeting a doubling in sales within two to three years, and upgrades sales forecasts accordingly.

Target price rises to 68c. This compares with 49c on June 6. Market Weight rating retained.

This report was published on July 6, 2022.

Target price is $0.68 Current Price is $0.56 Difference: $0.12
If BUB meets the Wilsons target it will return approximately 21% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 560.00.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 2.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.35.

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

COI    COMET RIDGE LIMITED

NatGas – Overnight Price: $0.18

Canaccord Genuity rates ((COI)) as Buy (1) –

Canaccord Genuity reports that production has increased at Comet Ridge's Mahalo North coal-seam-gas pilot in Queensland.

Should the company reach its goal of raising Greater Mahalo's reserves by 30%, this would generate an enterprise value of 61c says the broker.

The company holds net cash of $1.5m with $10.7m in cash and facilities, points out the broker. Speculative Buy rating. Target price is 24c.

This report was published on July 5, 2022.

Target price is $0.24 Current Price is $0.18 Difference: $0.06
If COI meets the Canaccord Genuity target it will return approximately 33% (excluding dividends, fees and charges).

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

EBR    EBR SYSTEMS, INC

Medical Equipment & Devices – Overnight Price: $0.49

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

EBR Systems has completed its patient enrolment for SOLVE and secured a $50m growth capital facility in a five-year deal with Runway Growth Capital.

Bell Potter says the company was able to leverage its strong balance sheet to secure the deal, which should provide flexibility to navigate a difficult macro environment.

Speculative Buy rating retained.

Target price is cut -30% to 90c from $1.35 to reflect a 14.8% increase in the company's weighted average cost of capital; higher capital expenditure and research and development spend; and the general market de-rating of the biotechnology sector.

This report was published on July 6, 2022.

Target price is $0.90 Current Price is $0.49 Difference: $0.41
If EBR meets the Bell Potter target it will return approximately 84% (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 12.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.05.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 13.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.60.

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

GOR    GOLD ROAD RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.10

Canaccord Genuity rates ((GOR)) as Buy (1) –

Gold Road Resources's June-quarter production outpaced Canaccord Genuity and consensus, thanks to higher throughput and grades.

The broker expects all-in-sustaining costs (which will be reported later this month) will fall well within guidance.

Cash and bullion rose $23m quarter on quarter to $161m after an -$11m one-off payment pertaining to the DGO acquisition.

The broker says this implies free cash flow of $34m, sharply ahead of its estimates, and Canaccord Genuity perceives the company as one of the more resilient to inflation, given the simplicity and low cost of its operations.

Buy rating and $1.85 target price retained.

This report was published on July 5, 2022.

Target price is $1.85 Current Price is $1.10 Difference: $0.75
If GOR meets the Canaccord Genuity target it will return approximately 68% (excluding dividends, fees and charges).
Current consensus price target is $1.68, suggesting upside of 53.0%(ex-dividends)

Forecast for FY22:

Current consensus EPS estimate is 10.6, implying annual growth of 153.6%.
Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 10.4.

Forecast for FY23:

Current consensus EPS estimate is 12.9, implying annual growth of 21.7%.
Current consensus DPS estimate is 3.8, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 8.5.

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

IAG    INSURANCE AUSTRALIA GROUP LIMITED

Insurance – Overnight Price: $4.37

Jarden rates ((IAG)) as Buy (1) –

Jarden prefers QBE Insurance over Suncorp Group and Insurance Australia Group for greater leverage to higher interest rates. There's also thought to be stronger real premium rate momentum and lower near-term reinsurance/catastrophe budget headwinds.

The broker lowers its target price for Insurance Australia Group to $5.35 from $5.45. With an estimated two year EPS compound annual growth rate (CAGR) of 9.5% after FY23, valuation upside is expected.

The Buy rating is maintained.

This report was published on July 6, 2022.

Target price is $5.35 Current Price is $4.37 Difference: $0.98
If IAG meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $5.00, suggesting upside of 14.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 9.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 2.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.8, implying annual growth of N/A.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 23.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 27.00 cents and EPS of 31.50 cents.
At the last closing share price the estimated dividend yield is 6.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.2, implying annual growth of 55.3%.
Current consensus DPS estimate is 24.7, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 15.0.

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

IPH    IPH LIMITED

Legal – Overnight Price: $8.30

Goldman Sachs rates ((IPH)) as Neutral (3) –

Goldman Sachs tinkers with EPS forecasts to reflect currency movements, market updates on filing volumes, and higher inflation and interest rates.

The broker also expects the company will soon make an acquisition in a new secondary market.

Target price rises to $9.35 from $9.25. Neutral rating retained.

This report was published on July 5, 2022.

Target price is $9.35 Current Price is $8.30 Difference: $1.05
If IPH meets the Goldman Sachs target it will return approximately 13% (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 29.00 cents and EPS of 39.00 cents.
At the last closing share price the estimated dividend yield is 3.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.28.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 30.00 cents and EPS of 40.00 cents.
At the last closing share price the estimated dividend yield is 3.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.75.

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: $3.32

Jarden rates ((MPL)) as Overweight (2) –

While covid tailwinds will continue to assist earnings for Medibank Private, Jarden warns that mortgage rate rises will negatively impact affordability for the Private Health Insurance sector.

The broker prefers Medibank Private over nib Holdings on valuation grounds and a greater scope for ongoing customer support initiatives.

The Overweight rating and $3.40 target price are maintained.

This report was published on July 6, 2022.

Target price is $3.40 Current Price is $3.32 Difference: $0.08
If MPL meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.48, suggesting upside of 4.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 13.50 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.59.

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 3.9%.
Current consensus EPS estimate suggests the PER is 21.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 15.10 cents and EPS of 17.80 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.65.

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 4.1%.
Current consensus EPS estimate suggests the PER is 20.1.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NHF    NIB HOLDINGS LIMITED

Insurance – Overnight Price: $7.52

Jarden rates ((NHF)) as Neutral (3) –

Jarden warns that mortgage rate rises will negatively impact affordability for the Private Health Insurance sector.

The broker prefers Medibank Private over nib Holdings on valuation grounds and a greater scope for ongoing customer support initiatives.

The target price for nib Holdings falls to $6.90 from $7.00 and the Neutral rating is unchanged.

This report was published on July 7, 2022.

Target price is $6.90 Current Price is $7.52 Difference: minus $0.62 (current price is over target).
If NHF meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.97, suggesting downside of -7.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 18.00 cents and EPS of 26.10 cents.
At the last closing share price the estimated dividend yield is 2.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.4, implying annual growth of -2.4%.
Current consensus DPS estimate is 21.1, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 21.9.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 24.00 cents and EPS of 34.50 cents.
At the last closing share price the estimated dividend yield is 3.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.1, implying annual growth of -0.9%.
Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 22.1.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

QBE    QBE INSURANCE GROUP LIMITED

Insurance – Overnight Price: $11.75

Jarden rates ((QBE)) as Buy (1) –

Jarden prefers QBE Insurance over Suncorp Group and Insurance Australia Group for greater leverage to higher interest rates, stronger real premium rate momentum and lower near-term reinsurance/catastrophe budget headwinds.

The broker's target price increases to $16.00 from $15.70. Underlying investment yields are expected to rise to 2.8% in the 2H from 1.4% in the 1H, while an improvement in underwriting margins should create significant EPS momentum.

The Buy rating is maintained.

This report was published on July 6, 2022.

Target price is $16.00 Current Price is $11.75 Difference: $4.25
If QBE meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $15.54, suggesting upside of 32.3%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 66.25 cents and EPS of 76.19 cents.
At the last closing share price the estimated dividend yield is 5.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 96.4, implying annual growth of N/A.
Current consensus DPS estimate is 57.7, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 12.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 99.38 cents and EPS of 137.75 cents.
At the last closing share price the estimated dividend yield is 8.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 145.2, implying annual growth of 50.6%.
Current consensus DPS estimate is 95.0, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 8.1.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.50

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

Bell Potter expects average costs will rise across the listed gold sector in the June quarter as producers continue to feel the impacts of inflation, and has lifted its all in sustaining cost estimate for Regis Resources 7% for the coming quarter. 

The broker highlights it does anticipate strong performance from the company to somewhat offset rising costs predicting an average 10% cost rise across the sector, with Regis Resources' costs already -8.5% lower than the sector average. 

The broker maintains Regis Resources offers an attractive risk reward view. The Buy rating is retained and the target price decreases to $2.72 from $3.00.

This report was published on June 30, 2022.

Target price is $2.72 Current Price is $1.50 Difference: $1.22
If RRL meets the Bell Potter target it will return approximately 81% (excluding dividends, fees and charges).
Current consensus price target is $2.10, suggesting upside of 40.0%(ex-dividends)
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 6.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.8, implying annual growth of -78.0%.
Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 25.9.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 4.00 cents and EPS of 21.90 cents.
At the last closing share price the estimated dividend yield is 2.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 177.6%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 9.3.

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

SUN    SUNCORP GROUP LIMITED

Insurance – Overnight Price: $10.89

Jarden rates ((SUN)) as Overweight (2) –

Jarden prefers QBE Insurance over Suncorp Group and Insurance Australia Group for greater leverage to higher interest rates, stronger real premium rate momentum and lower near-term reinsurance/catastrophe budget headwinds.

The broker lowers its target price for Suncorp Group to $12.40 from $12.60. It's felt the outlook revolves around accelerating premium rate rises.

While the Overweight rating is unchanged, the broker points to medium term consensus, which expects greater relative upside for Insurance Australia Group.

This report was published on July 6, 2022.

Target price is $12.40 Current Price is $10.89 Difference: $1.51
If SUN meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $13.49, suggesting upside of 23.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 45.00 cents and EPS of 52.80 cents.
At the last closing share price the estimated dividend yield is 4.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.5, implying annual growth of -19.0%.
Current consensus DPS estimate is 56.4, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 77.00 cents and EPS of 90.70 cents.
At the last closing share price the estimated dividend yield is 7.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.01.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.4, implying annual growth of 35.0%.
Current consensus DPS estimate is 69.6, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 12.3.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

UNI    UNIVERSAL STORE HOLDINGS LIMITED

Apparel & Footwear – Overnight Price: $4.16

Wilsons rates ((UNI)) as Overweight (1) –

As part of May retail sales data, year-on-year figures show a strong result driven by footwear and accessories and clothing. May was the fourth consecutive month of double-digit growth for these two categories.

Wilsons believes the data show the resilience of customers in these categories, which is a positive read-through for Universal Store.

The Overweight rating is retained, while the research note did not provide a target price. The last update on the FNArena database suggests the target remains at $5.50.

This report was published on July 6, 2022.

Target price is $5.50 Current Price is $4.16 Difference: $1.34
If UNI meets the Wilsons target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 11.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 15.00 cents and EPS of 28.60 cents.
At the last closing share price the estimated dividend yield is 3.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.5, implying annual growth of -17.4%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.1.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 21.90 cents and EPS of 43.80 cents.
At the last closing share price the estimated dividend yield is 5.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.1, implying annual growth of 24.0%.
Current consensus DPS estimate is 22.8, implying a prospective dividend yield of 5.5%.
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

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

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

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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