Daily Market Reports | Sep 06 2022
This story features 29METALS LIMITED, and other companies. For more info SHARE ANALYSIS: 29M
An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.
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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)
29M A1M ABB AIS AT1 BGA (2) BIO BRI CBO CGC (4) CLG CQR CUP CYG (2) DTC ESK HLO IFM IGO INA JLG KAR LDX LRK LYC (2) MAQ (2) MDR MTO MVF MVP MYX (2) NST NXT OZL PDN PNV PPE (2) PPT (2) PTM PWR (2) PXA QAN RHC (3) RRL S32 SES SLC UNI (2) WES WPR
29M 29METALS LIMITED
Copper – Overnight Price: $1.84
Canaccord Genuity rates ((29M)) as Downgrade to Hold from Buy (3) –
29Metals has delivered first half earnings of $94m, a sizeable beat to Canaccord Genuity's forecast $73m which the broker attributed to lower costs than it had assumed.
The broker was also surprised by the announcement of a dividend, with the company paying out 2 cents per share.
With a $26m stamp duty payment to be made, in the September quarter on Canaccord Genuity's expectations, and the capital expenditure requirements for the company's Cervantes project, Canaccord Genuity expects 29Metals to finish the next year in a -$5m net debt position.
The rating is downgraded to Hold from Speculative Buy and the target price increases to $1.90 from $1.80.
This report was published on August 30, 2022.
Target price is $1.90 Current Price is $1.84 Difference: $0.06
If 29M meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $2.03, suggesting upside of 10.1%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 2.00 cents and EPS of minus 1.00 cents.
At the last closing share price the estimated dividend yield is 1.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 184.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.8, implying annual growth of N/A.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 2.00 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 1.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.5, implying annual growth of N/A.
Current consensus DPS estimate is 3.0, implying a prospective dividend yield of 1.6%.
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
A1M AIC MINES LIMITED
Gold & Silver – Overnight Price: $0.49
Shaw and Partners rates ((A1M)) as Buy (1) –
AIC Mines's FY22 Annual Report advises the company is transitioning to a June 30 reporting cycle from a December 31 cycle.
At first glance, the company's June-half result appears to have pleased Shaw and Partners, the company posting strong quarter-on-quarter operational performance and revealing strong mine utilisation upside.
The broker appreciates the growing cash flow (now positive) from Eloise, and says it is a long way from reaching its full potential.
Combined with a recent reserve and resource upgrade, the broker expects the company will be able to increase mine life to more than five years.
The broker is yet to update its model and retains its Buy rating and 73c target price for now.
This report was published on August 29, 2022.
Target price is $0.73 Current Price is $0.49 Difference: $0.24
If A1M meets the Shaw and Partners target it will return approximately 49% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 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 6.28.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of 4.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.40.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ABB AUSSIE BROADBAND LIMITED
Telecommunication – Overnight Price: $2.56
JP Morgan rates ((ABB)) as Overweight (1) –
Following FY22 results, JP Morgan feels the market placed more emphasis on Aussie Broadband's lower FY23 expectations than the strong growth target for FY25. The company remains one of the cheapest stocks under the broker's coverage.
Despite a positive growth trajectory, the analyst notes the company now trades at mature Telco multiples.
While the target price falls to $5.65 from $6.10 on a more conservative view of growth, JP Morgan maintains its Overweight rating.
This report was published on August 30, 2022.
Target price is $5.65 Current Price is $2.56 Difference: $3.09
If ABB meets the JP Morgan target it will return approximately 121% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.60.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 0.00 cents and EPS of 21.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.19.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AIS AERIS RESOURCES LIMITED
Industrial Metals – Overnight Price: $0.41
Bell Potter rates ((AIS)) as Buy (1) –
Aeris Resources' FY22 result pretty much met Bell Potter's revenue forecasts but fell well short of the broker's earnings (EBITDA) and net profit after tax forecasts and no dividend was declared (the broker was expecting a 0.8c dividend)
EPS of 12.4c compared with the broker's expected 53.8c a share, due to an exploration impairment and a miss on depreciation and amortisation, on top of sharply higher finance, transaction and administration costs.
The company's cash position improved roughly 40% and no bank debt was drawn and Bell Potter believes the company has sufficient funds to meet its growth milestones.
Production guidance met the broker's forecasts but sustaining capital and operating cost guidance was sharply higher.
Earnings forecasts fall -87% in FY23; -36% in FY24 and -19% in FY25 and no dividend is forecast for the period.
But Bell Potter retains the faith and its Buy rating, noting the company offers good leveraged exposure to zinc and copper prices.
Target price falls to 93c a share from $1.33 a share to reflect margin compression and continued investment in production expansion.
This report was published on August 26, 2022.
Target price is $0.93 Current Price is $0.41 Difference: $0.52
If AIS meets the Bell Potter target it will return approximately 127% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.77.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of 9.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.56.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AT1 ATOMO DIAGNOSTICS LIMITED
Medical Equipment & Devices – Overnight Price: $0.06
Canaccord Genuity rates ((AT1)) as Downgrade to Hold from Buy (3) –
Atomo Diagnostics' FY22 result was largely in line with its recent quarterly update, with the company reporting a doubling of revenue year-on-year, slightly beating Canaccord Genuity's forecast despite challenging conditions.
The broker noted competitive pricing for covid tests drove a margin decline, but warns that companies that scaled up to take advantage of the pandemic need to find alternate avenues for growth as demand for covid products subsides.
For Atomo Diagnostics, the broker notes the HIV business is growing, but not fast enough. The rating is downgraded to Hold from Speculative Buy and the target price decreases to $0.11 from $0.25.
This report was published on August 29, 2022.
Target price is $0.11 Current Price is $0.06 Difference: $0.05
If AT1 meets the Canaccord Genuity target it will return approximately 83% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.00.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.45.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGA BEGA CHEESE LIMITED
Dairy – Overnight Price: $3.83
Bell Potter rates ((BGA)) as Hold (3) –
Bega Cheese's FY22 result slightly outpaced Bell Potter's forecasts.
The company reported more than $40m in extra covid-related costs but operating cash flow rose roughly 30%, net debt fell roughly -30% and the the use of off-balance-sheet facilities rose roughly 10%.
The broker's forecasts include the sale of the Vegemite way property for $110m and conversion to a 15-year sale and leaseback.
Hold rating retained. Target price rises to $4.05 from $3.45.
This report was published on August 29, 2022.
Target price is $4.05 Current Price is $3.83 Difference: $0.22
If BGA meets the Bell Potter target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $3.65, suggesting downside of -4.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 11.00 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 2.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.5, implying annual growth of 56.6%.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 30.7.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 11.00 cents and EPS of 16.70 cents.
At the last closing share price the estimated dividend yield is 2.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.9, implying annual growth of 51.2%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 20.3.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((BGA)) as Sell (5) –
Bega Cheese's FY22 result nosed out Goldman Sachs's forecasts, falling at the top end of guidance, thanks to a strong performance from branded products. Bulk proved a miss but as Branded constitutes 82% of revenue, it was all good.
Management reiterated FY23 earnings (EBITDA) guidance and the broker expects a likely 30% in farm-gate prices, general inflation and strong competition wil feature and expects much will depend on international dairy commodity prices, which recently eased.
Goldman Sachs observes an improvement in the balance sheet, leverage improving to 1.8x net debt/EBITDA from 2.3x in FY23 and net debt falling -18%, plus the upcoming sale of the Port Melbourne property provides further confidence.
Sell rating and $3.25 target price retained.
This report was published on August 26, 2022.
Target price is $3.25 Current Price is $3.83 Difference: minus $0.58 (current price is over target).
If BGA meets the Goldman Sachs target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.65, suggesting downside of -4.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 4.60 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 1.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.5, implying annual growth of 56.6%.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 30.7.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 EPS of 16.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.9, implying annual growth of 51.2%.
Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 20.3.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BIO BIOME AUSTRALIA LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.09
Canaccord Genuity rates ((BIO)) as Speculative Buy (1) –
While full year financials were largely released with Biome Australia's recent quarterly update, Canaccord Genuity has described a solid maiden result from the company since its public listing.
Annual sales increased 78% year-on-year, supported by the expansion of the Activated Probiotics range.
The broker also noted the signing of the Priceline Pharmacy network contract was a highlight, and will expand Biome Australia's accessible distribution network to 3,000.
The Speculative Buy rating and target price of $0.16 are retained.
This report was published on August 30, 2022.
Target price is $0.16 Current Price is $0.09 Difference: $0.07
If BIO meets the Canaccord Genuity target it will return approximately 78% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.43.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BRI BIG RIVER INDUSTRIES LIMITED
Building Products & Services – Overnight Price: $2.43
Moelis rates ((BRI)) as Buy (1) –
Big River Industries delivered a strong beat to Moelis' expectations, reporting earnings of $48m, up 113% year-on-year and 19% ahead of forecast, largely on stronger than expected earnings margins, and net profit of $22.1m, up 220% and 35% ahead of forecast.
The broker anticipates strong cash generation to continue into the coming year, noting while the company did not provide quantitative guidance it has suggested modest growth.
The broker lifts its earnings per share forecasts 22% and 17% for FY23 and FY24 respectively. The Buy rating is retained and the target price increases to $3.92 from $3.36.
This report was published on August 28, 2022.
Target price is $3.92 Current Price is $2.43 Difference: $1.49
If BRI meets the Moelis target it will return approximately 61% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 16.00 cents and EPS of 27.70 cents.
At the last closing share price the estimated dividend yield is 6.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.77.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 17.00 cents and EPS of 28.60 cents.
At the last closing share price the estimated dividend yield is 7.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.50.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CBO COBRAM ESTATE OLIVES LIMITED
Agriculture – Overnight Price: $1.75
Bell Potter rates ((CBO)) as Buy (1) –
Cobram Estate Olives' FY22 result fell shy of most of Bell Potter's metrics. The big surprise was the $189.1m in carrying value after an independent valuation of the company's acreage and asset prices.
Cobram Estates' equity raising helped improve the company's net debt.
Bell Potter expects FY23 earnings will be sharply higher than in FY22, as costs are partially passed on. Still, forecast EBITDA falls -3% in FY23 and -6% in FY24.
Buy rating retained and $2 target price retained.
This report was published on August 29, 2022.
Target price is $2.00 Current Price is $1.75 Difference: $0.25
If CBO meets the Bell Potter target it will return approximately 14% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 3.30 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 1.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.89.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 3.30 cents and EPS of 1.20 cents.
At the last closing share price the estimated dividend yield is 1.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 145.83.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CGC COSTA GROUP HOLDINGS LIMITED
Agriculture – Overnight Price: $2.61
Bell Potter rates ((CGC)) as Buy (1) –
Costa Group's June first-half earnings (EBITDA) broadly met Bell Potter's forecasts. FY23 guidance also outpaced.
The balance sheet improved on the first-half but net debt rose year on year, with capital expenditure the highest since the second half of June 2017, observes the broker.
Buy rating retained, the broker expecting a expansion and maturation of the company's avocado orchards; international berry operation and citrus orchards.
Buy rating retained. Target price falls to $3.55 from $3.75.
This report was published on August 29, 2022.
Target price is $3.55 Current Price is $2.61 Difference: $0.94
If CGC meets the Bell Potter target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $3.07, suggesting upside of 18.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Bell Potter forecasts a full year FY22 dividend of 10.00 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 3.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 38.3%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.8.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 11.00 cents and EPS of 19.20 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.4, implying annual growth of 40.5%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 14.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((CGC)) as Buy (1) –
Costa Group's June first-half result largely pleased Goldman Sachs thanks to strong cost absorption relative to competitors; a beat in high-margin genetics licensing; and continued strength in the China joint venture.
The broker considers the outlook for the December half to be positive (supported by non-quantitative guidance) and that Costa Group's price increases should outpace cost inflation.
Goldman Sachs observes 50% of Costa Group's orchards are yet to reach maturity and admire the company's export opportunities, believing it to be a good long-term growth prospect for both berries, citrus and avocados.
Returns should improve now the capital expenditure program is finished. Buy rating and $3.60 target price retained.
This report was published on August 27, 2022.
Target price is $3.60 Current Price is $2.61 Difference: $0.99
If CGC meets the Goldman Sachs target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $3.07, suggesting upside of 18.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 10.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 3.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 38.3%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.8.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 12.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.4, implying annual growth of 40.5%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 14.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((CGC)) as Overweight (2) –
Costa Group's June-half result met guidance and Jarden's forecasts thanks to strength in International and citrus, despite a miss in produce. Management guides to continued strength in volume but of lower quality fruit.
Cash flow softened courtesy of rising inventories in the second half.
Overall, the broker considers the result as solid and forecasts a three-year annual EPS compound growth rate of 9%, and 38% growth into 2022.
But the broker is cautious heading into the end of the citrus season. For now, Overweight rating is retained and target price falls to $3.15 from $3.40.
This report was published on August 26, 2022.
Target price is $3.15 Current Price is $2.61 Difference: $0.54
If CGC meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $3.07, suggesting upside of 18.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 10.60 cents and EPS of 14.40 cents.
At the last closing share price the estimated dividend yield is 4.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 38.3%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.8.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 10.80 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.4, implying annual growth of 40.5%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 14.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((CGC)) as Overweight (1) –
Costa Group delivered 13% earnings growth in the last half, supported by performance from the Mushroom, Tomato and Grape categories. Wilsons notes demand and pricing remain strong, and sufficient to offset cost inflation.
The broker notes its current forecasts imply a return on capital of around 10% in FY22 and 13% in FY24, leaving opportunity for upside to forecasts if Costa Group can achieve its return on capital target of more than 15%.
The Overweight rating is retained and the target price decreases to $3.17 from $3.22.
This report was published on September 29, 2022.
Target price is $3.17 Current Price is $2.61 Difference: $0.56
If CGC meets the Wilsons target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $3.07, suggesting upside of 18.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 9.50 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.1, implying annual growth of 38.3%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.8.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 12.70 cents and EPS of 18.80 cents.
At the last closing share price the estimated dividend yield is 4.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.4, implying annual growth of 40.5%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 14.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CLG CLOSE THE LOOP LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.48
Shaw and Partners rates ((CLG)) as Buy (1) –
Close the Loop's maiden FY22 result outpaced prospectus forecasts by 21%, and upgraded guidance, thanks to a strong performance from acquisitions.
The result pleased Shaw and Partners, which notes the company does not appear to be suffering margin compression (gross margins rose to 31.7% from 30.8%) unlike key peers, and is moving apace with its acquisition strategy.
Shaw and Partners observes stable margins were struck on a larger revenue base thanks to both inorganic and organic growth, and says Close the Loop enters FY23 in a strong position.
Earnings forecasts rise. Buy recommendation retained. Target price rises 10.5% to 63c from 57c.
This report was published on August 29, 2022.
Target price is $0.63 Current Price is $0.48 Difference: $0.15
If CLG meets the Shaw and Partners target it will return approximately 31% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 13.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.50.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of 11.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.17.
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: $4.07
JP Morgan rates ((CQR)) as Neutral (3) –
JP Morgan retains its Neutral rating and $4.20 target price for Charter Hall Retail REIT, despite an upgrade to FY23 EPS guidance to no less than 28.7cpu from 28.6cpu. Dividend guidance for FY23 also increased; to 25.8cpu from 25.7cpu.
The REIT also announced the acquisition of a 49% interest in Z Energy convenience portfolio from Ampol ((ALD)) for -$120m, and the sale of a 52% interest in the Coles ((COL)) Distribution Centre in Adelaide for $95.3m.
These transactions are consistent with the aim to recycling capital out of logistic and industrial assets (when market conditions are buoyant) towards assets with triple NNN leases. Such leases require the tenant to handle basic rent, property taxes and maintenance.
This report was published on August 30, 2022.
Target price is $4.20 Current Price is $4.07 Difference: $0.13
If CQR meets the JP Morgan target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $4.19, suggesting upside of 2.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 26.00 cents and EPS of 29.20 cents.
At the last closing share price the estimated dividend yield is 6.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of -75.4%.
Current consensus DPS estimate is 25.6, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 14.4.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 25.00 cents and EPS of 29.00 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 14.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.1, implying annual growth of 3.2%.
Current consensus DPS estimate is 25.6, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CUP COUNTPLUS LIMITED
Commercial Services & Supplies – Overnight Price: $0.74
Wilsons rates ((CUP)) as Upgrade to Overweight from Market Weight (1) –
Countplus delivered a beat to its own guidance, reporting full year earnings of $11.4m compared to its guidance range of $10.50-11.0m.
Wilsons notes a revenue beat is particularly encouraging given the current environment, although was partially offset by higher operating expenses.
The broker highlighted it appears Countplus' new management team will not make significant strategy changes but will focus on improving utilisation and operational metrics.
The rating is upgraded to Overweight from Market Weight and the target price increases to $1.20 from $0.65.
This report was published on August 29, 2022.
Target price is $1.20 Current Price is $0.74 Difference: $0.46
If CUP meets the Wilsons target it will return approximately 62% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 40.00 cents and EPS of 38.10 cents.
At the last closing share price the estimated dividend yield is 54.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 1.94.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 10.20 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 13.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.40.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CYG COVENTRY GROUP LIMITED
Hardware & Equipment – Overnight Price: $1.25
Bell Potter rates ((CYG)) as Buy (1) –
Coventry Group's FY22 result met guidance and Bell Potter's forecasts but missed consensus. Operating cash flow also improved but net debt rose due in part to above-average inventory.
Management provides no broad guidance but is expecting to meet its operating cash-flow-to-earnings ratio, says the broker.
FY23 and FY24 EPS forecast tick upwards, along with the dividend forecast.
Buy rating retained. Target price falls to $1.50 from $1.70 due to capital expenditure impacts on free cash flow.
This report was published on August 29, 2022.
Target price is $1.50 Current Price is $1.25 Difference: $0.25
If CYG meets the Bell Potter target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 3.60 cents and EPS of 7.50 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.67.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 3.80 cents and EPS of 7.90 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.82.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Shaw and Partners rates ((CYG)) as Buy (1) –
Coventry Group's FY22 earnings met guidance and the dividend and cash flow outpaced Shaw and Partners' forecasts thanks to a beat from the Trade Distribution division. Higher costs led the Fluid Systems division to a miss.
The broker appreciates the company's balance sheet post recent debt-funded acquisition (albeit near capacity), net debt also proving a strong beat, and believes the company will be successful at reducing elevated inventories.
The company has finally started its $15m Enterprise Resource System update, which is expected to be finalised in 2.5 years, says the broker.
The company guides to strong growth opportunities across all business segments but provides no quantitative guidance.
Buy rating, high risk, retained, the broker believing the company to be posting a strong turnaround. Target price falls to $2.14 from $2.33 after the broker reduced earnings (EBITDA) forecasts.
This report was published on August 29, 2022.
Target price is $2.14 Current Price is $1.25 Difference: $0.89
If CYG meets the Shaw and Partners target it will return approximately 71% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 4.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 3.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.81.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 5.00 cents and EPS of 20.10 cents.
At the last closing share price the estimated dividend yield is 4.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.22.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DTC DAMSTRA HOLDINGS LIMITED
Software & Services – Overnight Price: $0.16
Wilsons rates ((DTC)) as Market Weight (3) –
Wilsons describes FY22 as a mixed year for Damstra Holdings. While the company continued to expand its capability and footprint, it did so while managing a contraction in scope from its largest client alongside challenging market conditions.
The broker notes key contract wins in the fourth quarter, including a US$1.2m two-year contract with Barrick, a three-year contract with Capstone Copper, and a $5m six-year contract for Victoria's North East link project, which Wilsons takes as a sign of building momentum.
The Market Weight rating is retained and the target price decreases to $0.17 from $0.20.
This report was published on August 29, 2022.
Target price is $0.17 Current Price is $0.16 Difference: $0.01
If DTC meets the Wilsons target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 55.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.29.
Forecast for FY24:
Wilsons forecasts a full year FY24 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 40.00.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ESK ETHERSTACK PLC
Telecommunication – Overnight Price: $0.38
Wilsons rates ((ESK)) as Overweight (1) –
First half results were well ahead of forecasts at the EBITDA and net profit line. Project revenue was primarily driven by Samsung's AT&T Firstnet deployment and the Australian Department of Defence project. No guidance was provided.
Wilsons is confident Etherstack has the ability to grow strongly even in the current uncertain macro environment because of the long-term nature of its support revenue.
While the company previously flagged a goal of winning 2-4 contracts from Samsung in FY22, given it is now the end of August and none have been announced to date, the broker emphasises the difficulty in forecasting the timing of contracts from large multinationals.
Overweight rating. Target price slips -7% to 70c from 75c to reflect a miss at the revenue line and uncertainty about the company's royalty revenue and lower earnings (EBITDA) forecasts.
This report was published on August 29, 2022.
Target price is $0.70 Current Price is $0.38 Difference: $0.32
If ESK meets the Wilsons target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.00.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.86.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HLO HELLOWORLD TRAVEL LIMITED
Travel, Leisure & Tourism – Overnight Price: $2.03
JP Morgan rates ((HLO)) as Overweight (1) –
Helloworld Travel's FY22 EBITDA loss was slightly better than the consensus forecast following a stronger than-expected recovery in June leading to a profitable month.
A 10c final dividend was declared and JP Morgan sees potential for further capital management initiatives or earnings-accretive acquisitions.
FY23 guidance was also ahead of the analyst's expectations due to strong total transaction value (TTV) recovery momentum.
Management noted its retail networks are well-positioned for increased demand, driven by an overall reduction in the Australian independent agent industry.
The broker maintains its Overweight rating and $2.90 target price.
This report was published on August 31, 2022.
Target price is $2.90 Current Price is $2.03 Difference: $0.87
If HLO meets the JP Morgan target it will return approximately 43% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 3.00 cents and EPS of 2.00 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 101.50.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 6.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 2.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.45.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IFM INFOMEDIA LIMITED
Automobiles & Components – Overnight Price: $1.45
Bell Potter rates ((IFM)) as Hold (3) –
Infomedia's FY22 revenue just met guidance and fell only slightly shy of Bell Potter's forecasts, but earnings (EBITDA) proved a big miss as all three geographies disappointed and corporate costs rose.
Management provided no FY23 guidance but expects an improvement in FY23. EBITDA forecasts fall -21% in FY23 and -19% in FY24 as margin estimates shrink.
Hold rating retained. Target price falls -17% to $1.50 from $1.80.
This report was published on August 29, 2022.
Target price is $1.50 Current Price is $1.45 Difference: $0.05
If IFM meets the Bell Potter target it will return approximately 3% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 5.70 cents and EPS of 4.40 cents.
At the last closing share price the estimated dividend yield is 3.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.95.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 6.10 cents and EPS of 4.90 cents.
At the last closing share price the estimated dividend yield is 4.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.59.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IGO IGO LIMITED
Nickel – Overnight Price: $12.72
JP Morgan rates ((IGO)) as Overweight (1) –
While most FY22 result metrics were pre-reported by IGO, the 5c final dividend exceeded the 4c forecast by JP Morgan. FY23 guidance was also announced previously at 4Q results.
The analyst believes shares are trading on an undemanding multiple and maintains an Overweight rating. A renegotiation of spodumene contracts are expected to result in higher price realisations. The target rises to $14.00 from $13.50.
This report was published on August 31, 2022.
Target price is $14.00 Current Price is $12.72 Difference: $1.28
If IGO meets the JP Morgan target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $14.26, suggesting upside of 10.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 51.00 cents and EPS of 211.00 cents.
At the last closing share price the estimated dividend yield is 4.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 179.5, implying annual growth of 310.8%.
Current consensus DPS estimate is 31.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 7.2.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 66.00 cents and EPS of 238.00 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 157.6, implying annual growth of -12.2%.
Current consensus DPS estimate is 32.7, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 8.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
INA INGENIA COMMUNITIES GROUP
Aged Care & Seniors – Overnight Price: $4.17
Goldman Sachs rates ((INA)) as Neutral (3) –
Goldman Sachs' price target for Ingenia Communities has fallen to $6 from the last entry in the FNArena database of $6.45 in April 2022.
Neutral rating retained.
This report was published on August 26, 2022.
Target price is $6.00 Current Price is $4.17 Difference: $1.83
If INA meets the Goldman Sachs target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 12.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.38.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 15.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.90.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JLG JOHNS LYNG GROUP LIMITED
Building Products & Services – Overnight Price: $6.77
Moelis rates ((JLG)) as Buy (1) –
Following in-line normalised earnings (EBITDA) for Johns Lyng, Moelis increases its FY23 earnings forecast by 2% on what is considered to be conservative FY23 guidance (especially for CAT revenue). The target rises to $8.27 from $8.08.
Management noted 6% pro forma EPS accretion from the acquisition of a further 44.5% interest in Bright & Duggan.
The broker anticipates potential upside from CAT/disaster relief work, further M&A and better-than-expected US penetration, and maintains a Buy rating.
This report was published on August 30, 2022.
Target price is $8.27 Current Price is $6.77 Difference: $1.5
If JLG meets the Moelis target it will return approximately 22% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 9.00 cents and EPS of 20.70 cents.
At the last closing share price the estimated dividend yield is 1.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.71.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 12.20 cents and EPS of 22.60 cents.
At the last closing share price the estimated dividend yield is 1.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.96.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
KAR KAROON ENERGY LIMITED
Crude Oil – Overnight Price: $2.12
Jarden rates ((KAR)) as Downgrade to Underweight from Neutral (4) –
Karoon Energy's FY22 result sharply outpaced consensus and Jarden's forecasts, but production guidance was cut as the intervention program delay was extended to seven weeks, courtesy poor weather, a late start and ongoing operational challenges, not to mention rising staff and diesel costs and development capital expenditure.
In the longer term, the broker expects stronger oil production will offset cost inflation, but that's a ways off yet and not in time to stave off a downgrade to Underweight from Neutral.
DPS forecasts rise sharply across FY23 to FY25 to reflect strong cash flow generation. Target price is steady at $1.95.
This report was published on August 26, 2022.
Target price is $1.95 Current Price is $2.12 Difference: minus $0.17 (current price is over target).
If KAR 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 $2.65, suggesting upside of 17.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 40.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.1, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 6.1.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 10.00 cents and EPS of 45.70 cents.
At the last closing share price the estimated dividend yield is 4.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.0, implying annual growth of 34.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 4.5.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LDX LUMOS DIAGNOSTICS HOLDINGS LIMITED
Medical Equipment & Devices – Overnight Price: $0.06
Wilsons rates ((LDX)) as Market Weight (3) –
Wilsons retains its Market-Weight rating on Lumos Diagnostics after the FDA's failure to approve FebriDx for US marketing, preferring to wait upon the outcome of the company's appeal.
While unexpected, Wilsons believes the company will recover. The broker raises the target price to 55c to align with the company's share price.
This report was published on August 29, 2022.
Target price is $0.55 Current Price is $0.06 Difference: $0.49
If LDX meets the Wilsons target it will return approximately 817% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 15.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.38.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 10.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.57.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LRK LARK DISTILLING CO. LIMITED
Food, Beverages & Tobacco – Overnight Price: $2.65
Moelis rates ((LRK)) as Hold (3) –
In the wake of FY22 results, Moelis retains its Hold rating for Lark Distilling Co and raises its target to $3.19 from $3.16, despite lower forecast earnings after incorporating slightly higher-than-anticipated brand and overhead expenses.
The majority of overhead expenses pertain to employees, and following wage increases and expansion of teams in the 2H, overheads are expected to rise again in FY23, explains the analyst.
The gross profit margin of 66.5% was a beat compared to the analyst's 64.4% estimate due to a higher-margin product mix and undisrupted hospitality operations in the 2H.
This report was published on August 30, 2022.
Target price is $3.19 Current Price is $2.65 Difference: $0.54
If LRK meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 101.92.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 44.17.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LYC LYNAS RARE EARTHS LIMITED
Rare Earth Minerals – Overnight Price: $8.50
Canaccord Genuity rates ((LYC)) as Buy (1) –
Canaccord Genuity has described Lynas Rare Earths' full year result as strong and in line, with the company reporting earnings of $601m and net income of $540m. The company did not provide production or cost guidance for the coming year.
Given speculation as to whether the company has submitted an application to the Malaysian government seeking an extension to its existing operating license, Canaccord Genuity notes any news on the matter could be a major potential catalyst.
The Buy rating is retained and the target price decreases to $12.00 from $13.00.
This report was published on August 29, 2022.
Target price is $12.00 Current Price is $8.50 Difference: $3.5
If LYC meets the Canaccord Genuity target it will return approximately 41% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 77.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.04.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 117.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.26.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((LYC)) as Neutral (3) –
Lynas Rare Earths' FY22 result fell just shy of consensus and well short of Goldman Sachs' forecasts.
Net operating cash flow was in line with the broker and management has detailed $1.2bn of capital expenditure across FY23/24, also in line. Goldman Sachs' FY23 to FY25 capex forecasts is -$1.4bn, and the broker spies both execution and capex risks.
Goldman Sachs is bullish on NdPr prices this December half, despite current weakness and China's plan to raise its 2022 rare-earth production quota by 25%, expecting 12% instead. The company is expected to pay its first dividend in 2023.
FY23 and FY24 EPS forecasts fall -1%. The broker prefers Iluka Resources ((ILU)) over Lynas for rare-earths exposure-based valuation.
Neutral rating and $9.10 target price retained, which compares to the most recent entry in the FNArena database on August 22 of $8.40.
This report was published on August 26, 2022.
Target price is $9.10 Current Price is $8.50 Difference: $0.6
If LYC 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 FY23:
Goldman Sachs forecasts a full year FY23 dividend of 17.00 cents and EPS of 65.00 cents.
At the last closing share price the estimated dividend yield is 2.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.08.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 37.00 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 4.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.93.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MAQ MACQUARIE TELECOM GROUP LIMITED
Telecommunication – Overnight Price: $65.96
Canaccord Genuity rates ((MAQ)) as Buy (1) –
While Macquarie Telecom delivered a modest FY22 beat to its earnings guidance, the market has been left largely disappointed by earnings guidance for the company's Data Centre segment which missed consensus forecasts by -$8m, despite the first full year contribution from IC3 East's anchor tenant.
The company guided to earnings of $31-33m for the Data Centre segment, which Canaccord Genuity expects was the main driver of a negative share price reaction following the result release.
The Buy rating is retained and the target price decreases to $76.50 from $99.00.
This report was published on August 29, 2022.
Target price is $76.50 Current Price is $65.96 Difference: $10.54
If MAQ meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 60.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 108.67.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 65.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 101.17.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((MAQ)) as Market Weight (3) –
Macquarie Telecom's FY22 result met Wilsons' forecasts and outpaced guidance.
But FY23 guidance fell -15% short of the broker's forecasts after some power costs were held over and some deferred revenue ceased.
Market Weight rating retained. Target price falls to $69.14 from $74.71.
This report was published on August 29, 2022.
Target price is $69.14 Current Price is $65.96 Difference: $3.18
If MAQ meets the Wilsons target it will return approximately 5% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 62.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 105.54.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 89.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 73.62.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MDR MEDADVISOR LIMITED
Healthcare services – Overnight Price: $0.16
Moelis rates ((MDR)) as Buy (1) –
Moelis reported a strong result from MedAdvisor's Australian operations, but a mixed one from US operations. MedAdvisor reported revenue of $67.8m, up 18.6% year-on-year but a miss to guidance provided at the end of the second half for revenue between $72-74m.
The broker attributed the miss to a -US$5.8m impact as one of the company's larger US clients paused services during management changes, with the contract now returned to historic levels.
Post the GuildLink acquisition, Moelis expects MedAdvisor's dominant position in the Australian pharmacy market to drive consistent growth, while success in converting to digital in the US remains the main driver of value for the company.
The Buy rating is retained and the target price decreases to $0.34 from $0.57.
This report was published on August 28, 2022.
Target price is $0.34 Current Price is $0.16 Difference: $0.18
If MDR meets the Moelis target it will return approximately 113% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.40.
Forecast for FY24:
Moelis forecasts a full year FY24 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 80.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MTO MOTORCYCLE HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $2.44
Moelis rates ((MTO)) as Buy (1) –
Following a FY22 result better than Moelis expected, Motorcycle Holdings is "preparing for more subdued trading conditions as consumer demand moderates due to cost of living pressures."
As a result of this outlook, the broker downgrades its rating to Hold (it's felt a weak margin outcome is already in the share price) from Buy and reduces its target to $2.50 from $3.74.
A fully franked final dividend of 9c was declared and no quantified guidance was provided.
The analyst anticipates the company will be able to acquire more dealerships at attractive prices, as the consumer outlook softens.
This report was published on August 30, 2022.
Target price is $2.50 Current Price is $2.44 Difference: $0.06
If MTO meets the Moelis target it will return approximately 2% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 17.10 cents and EPS of 28.40 cents.
At the last closing share price the estimated dividend yield is 7.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.59.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 14.60 cents and EPS of 24.30 cents.
At the last closing share price the estimated dividend yield is 5.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.04.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MVF MONASH IVF GROUP LIMITED
Healthcare services – Overnight Price: $1.00
Shaw and Partners rates ((MVF)) as Buy (1) –
Monash IVF's FY22 result outpaced Shaw and Partners and the broker considers early FY23 guidance to be conservative given Shaw expects a recovery across most regions, later confirmed by the company.
The broker expects commentary at the AGM will be more bullish.
Shaw and Partners pushes deferred IVF demand from the June half into FY23; raises its market share penetration forecasts; accounts for higher greenfield and brownfield capital expenditure; rolls in the PIVET and ART acquisitions; and shaves Asian forecasts until signs of a recovery are evident.
EPS forecasts fall -8% in FY23; and -1% in FY24; and rise 2% in FY25, reflecting higher depreciation and amortisation, and a more cautious stance on acquisition returns.
Buy rating retained. Target price eases to $1.40 from $1.41.
This report was published on August 29, 2022.
Target price is $1.40 Current Price is $1.00 Difference: $0.4
If MVF meets the Shaw and Partners target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $1.23, suggesting upside of 23.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 4.50 cents and EPS of 6.40 cents.
At the last closing share price the estimated dividend yield is 4.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.0, implying annual growth of 27.1%.
Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 16.7.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 5.40 cents and EPS of 7.80 cents.
At the last closing share price the estimated dividend yield is 5.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.0, implying annual growth of 16.7%.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MVP MEDICAL DEVELOPMENTS INTERNATIONAL LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.71
Canaccord Genuity rates ((MVP)) as Buy (1) –
Medical Developments International delivered a full year underlying earnings loss of -$14.7m, in line with the result pre-released at the time of the company's capital raising.
Canaccord Genuity notes better disclosure has improved line of sight on volume and pricing performance for investors.
The broker notes selling Penthrox directly into the French market drove stronger than expected gross margins of 70%, and the company aims to double volumes in the French market in the coming year, potentially generating $30m in revenue.
The Hold rating and target price of $3.12 are retained.
This report was published on August 29, 2022.
Target price is $3.12 Current Price is $1.71 Difference: $1.41
If MVP meets the Canaccord Genuity target it will return approximately 82% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 18.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.34.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 48.86.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MYX MAYNE PHARMA GROUP LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.28
Canaccord Genuity rates ((MYX)) as Buy (1) –
Mayne Pharma's FY22 "noisy" result fell -9% short of consensus but nosed out Canaccord Genuity's forecasts, containing several adjustments, the largest of which was a -$71m reduction in the forecast earn-out liability given a slower than forecast rise in sales.
Revenue increased for the first time in five years.
Management announced a $100m shareholder distribution through a franked dividend and is expected to seek shareholder approval at the AGM for a 15% buyback (the broker estimates this will total $150m).
Management also plans a restructure, which the broker conjectures might involve selling the non-women's health section of the retail generic portfolio.
Buy rating and 51c target price retained.
This report was published on August 29, 2022.
Target price is $0.51 Current Price is $0.28 Difference: $0.23
If MYX meets the Canaccord Genuity target it will return approximately 82% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.38.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 28.00.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((MYX)) as Overweight (1) –
Wilsons has described Mayne Pharma's full year results as a mixed bag. Revenue of $424.8m was in line with expectations, supported by beats from the Dermatology and International businesses, while Retail dragged on results.
The broker also notes adoption of the company's Nextstellis product has been slower than expected. The broker adjusts its forecasts accordingly, noting with its relatively fixed cost base, Dermatology could provide some opportunity for upgrades.
The Overweight rating is retained and the target price increases to $0.56 from $0.61.
This report was published on August 29, 2022.
Target price is $0.56 Current Price is $0.28 Difference: $0.28
If MYX meets the Wilsons target it will return approximately 100% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 5.70 cents and EPS of minus 2.40 cents.
At the last closing share price the estimated dividend yield is 20.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.67.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.50.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NST NORTHERN STAR RESOURCES LIMITED
Gold & Silver – Overnight Price: $7.47
JP Morgan rates ((NST)) as Overweight (1) –
FY22 earnings (EBITDA) for Northern Star Resources were a -4% miss by comparison to JP Morgan's forecast due to higher corporate costs, while underlying profit was 4% in advance of the consensus estimate.
While net cash disappointed the analyst, a $300m buyback was a positive surprise, despite placing some pressure on the balance sheet in a time of peak capex in FY23. It's assumed 75% of the buyback will be executed.
Northern Star Resources remains JP Morgan's stand out pick under its coverage with an attractive dividend yield and gearing at half the level of Evolution Mining ((EVN)) and Newcrest Mining ((NCM)).
The Overweight rating is kept and the target slips to $9.25 from $9.50.
This report was published on August 30, 2022.
Target price is $9.25 Current Price is $7.47 Difference: $1.78
If NST meets the JP Morgan target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $9.98, suggesting upside of 36.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 25.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 3.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 30.6, implying annual growth of -17.3%.
Current consensus DPS estimate is 22.7, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 24.0.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 31.00 cents and EPS of 56.00 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.2, implying annual growth of 24.8%.
Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NXT NEXTDC LIMITED
Cloud services – Overnight Price: $9.85
Wilsons rates ((NXT)) as Overweight (1) –
NextDC has delivered revenue of $291, in line with the company's guidance range although a slight miss to Wilsons' forecast, while underlying earnings of $169m proved a beat to both guidance and Wilsons.
The broker highlights both contracted utilisation and billing utilisation improved in the year, with billing utilisation reaching 86% of contracted megawatts at the close of the year.
The broker's Overweight rating and target price of $13.87 are under review.
This report was published on August 29, 2022.
Target price is $13.87 Current Price is $9.85 Difference: $4.02
If NXT meets the Wilsons target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $12.76, suggesting upside of 28.3%(ex-dividends)
Forecast for FY23:
Current consensus EPS estimate is 2.2, implying annual growth of 10.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 451.8.
Forecast for FY24:
Current consensus EPS estimate is 3.8, implying annual growth of 72.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 261.6.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
OZL OZ MINERALS LIMITED
Copper – Overnight Price: $25.64
Canaccord Genuity rates ((OZL)) as Buy (1) –
OZ Minerals June-half earnings missed consensus but sharply outpaced Canaccord Genuity's forecasts.
Management pressed the long-term value in its portfolio and the broker upgrades the price target to $27.50 from $20.50 in the wake of BHP Group's ((BHP)) takeover bid. The broker considers the bid to be fair but says it fails to recognise the miner's long-term prospects.
The broker expects strong forecast copper demand will support the share price going forward. Buy rating retained.
This report was published on August 29, 2022.
Target price is $27.50 Current Price is $25.64 Difference: $1.86
If OZL meets the Canaccord Genuity target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $24.50, suggesting downside of -6.3%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
Canaccord Genuity forecasts a full year FY22 dividend of 21.00 cents and EPS of 76.00 cents.
At the last closing share price the estimated dividend yield is 0.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 83.1, implying annual growth of -47.9%.
Current consensus DPS estimate is 17.5, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 31.5.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 15.00 cents and EPS of 183.00 cents.
At the last closing share price the estimated dividend yield is 0.59%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 104.5, implying annual growth of 25.8%.
Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 25.0.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PDN PALADIN ENERGY LIMITED
Uranium – Overnight Price: $0.84
Bell Potter rates ((PDN)) as Speculative Buy (1) –
Paladin Energy's FY22 net profit after tax loss met Bell Potter's forecast but earnings (EBITDA) proved a miss.
The broker believes FY23 will be a year of transformation for Paladin given the growing global focus on nuclear energy adoption, and expects the company to strike more offtake agreements in the period.
Bell Potter forecasts a higher cash burn for FY23 as the company ramps up the Langer Heinrich restart.
FY23 and FY24 EPS forecasts fall -19% and -15%. Speculative Buy rating and $1.05 valuation retained.
This report was published on August 29, 2022.
Target price is $1.05 Current Price is $0.84 Difference: $0.21
If PDN meets the Bell Potter target it will return approximately 25% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.39 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 60.26.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of 1.39 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 60.26.
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
PNV POLYNOVO LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.32
Wilsons rates ((PNV)) as Downgrade to Underweight from Market Weight (5) –
Wilsons observes PolyNovo has delivered a -$3.8m net loss in FY22, despite sales of the company's BTM synthetic polymer improving 48% year-on-year.
Increased operating expenses, additional headcount in the US sales team, and an impairment related to the company's Melbourne head office all impacted on the final result.
Wilsons reduces its revenue forecasts by around -5% for FY24-25, but notes the company closed out the year with $2.0m in net cash and continues to target sales above $250m for BTM with a 95% gross margin.
The rating is downgraded to Underweight from Market Weight and the target price of $1.11 is retained.
This report was published on August 29, 2022.
Target price is $1.11 Current Price is $1.32 Difference: minus $0.21 (current price is over target).
If PNV meets the Wilsons target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 110.00.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 2.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 55.00.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPE PEOPLEIN LIMITED
Jobs & Skilled Labour Services – Overnight Price: $3.51
Moelis rates ((PPE)) as Buy (1) –
Moelis described the performance of Peoplein's acquisitions as a stand out of the company's full year result, with Perigon in particular contributing more than $3m in earnings between March and June.
The company delivered earnings of $47.2m, and closed out the year with net debt of $72m.
The broker notes immigration and visa processing delays did impact on organic growth in the last year, but it anticipates the lifting of immigration caps in a bid to ease labour constraints, and a focus on foreign nurses, to support growth in FY23.
The Buy rating is retained and the target price decreases to $4.41 from $4.56.
This report was published on August 29, 2022.
Target price is $4.41 Current Price is $3.51 Difference: $0.9
If PPE meets the Moelis target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 16.10 cents and EPS of 40.50 cents.
At the last closing share price the estimated dividend yield is 4.59%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.67.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 17.40 cents and EPS of 43.60 cents.
At the last closing share price the estimated dividend yield is 4.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.05.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((PPE)) as Overweight (1) –
Wilsons spotted a strong full year result from Peoplein, with the company delivering 24% year-on-year earnings growth and 28% year-on-year net profit growth.
Wilsons notes contributions from recent acquisitions more than offset a covid-driven decline in billed hours.
The company has guided to earnings of $62-66m in the coming year, ahead of the broker's expectations, expecting job vacancies to remain elevated and support strong organic growth. Earnings forecasts increase 5% and 8% in FY23 and FY24 respectively.
The Overweight rating is retained and the target price increases to $5.30 from $5.15.
This report was published on August 29, 2022.
Target price is $5.30 Current Price is $3.51 Difference: $1.79
If PPE meets the Wilsons target it will return approximately 51% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 16.00 cents and EPS of 27.40 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.81.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 19.20 cents and EPS of 33.30 cents.
At the last closing share price the estimated dividend yield is 5.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.54.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPT PERPETUAL LIMITED
Wealth Management & Investments – Overnight Price: $26.98
Bell Potter rates ((PPT)) as Buy (1) –
Perpetual's FY22 result outpaced Bell Potter's forecasts, thanks to strong underlying profitability and the inclusion of Barrow Hanley, notes the broker.
The broker considers the Pendal acquisition to be a good one. EPS forecasts slip -0.1% for FY2023; and rise 0.5% for FY24.
Buy rating retained. Target price rises to $39.80 from $38.40.
This report was published on August 29, 2022.
Target price is $39.80 Current Price is $26.98 Difference: $12.82
If PPT meets the Bell Potter target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $31.60, suggesting upside of 17.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 207.00 cents and EPS of 237.20 cents.
At the last closing share price the estimated dividend yield is 7.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.0, implying annual growth of 18.6%.
Current consensus DPS estimate is 184.0, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 12.6.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 21.70 cents and EPS of 278.80 cents.
At the last closing share price the estimated dividend yield is 0.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 239.4, implying annual growth of 12.4%.
Current consensus DPS estimate is 206.3, implying a prospective dividend yield of 7.7%.
Current consensus EPS estimate suggests the PER is 11.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JP Morgan rates ((PPT)) as Initiation of coverage with Overweight (1) –
JP Morgan initiates coverage of Perpetual with an Overweight rating and $30.00 target price.
While FY22 results were slightly weaker than the broker forecast, the focus returns to the announced acquisition of Pendal Group ((PDL)). It's felt the transaction would be EPS neutral on FY24 pro-forma numbers, and would be accretive if synergies are achieved.
The analyst justifies the Overweight rating on the scope for a return (at some point) to net inflows, which is boosted by being a Value manager in the current market conditions.
The growth prospects for Perpetual Private and Corporate Trust should also lead to higher multiples, according to the broker.
This report was published on August 29, 2022.
Target price is $30.00 Current Price is $26.98 Difference: $3.02
If PPT meets the JP Morgan target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $31.60, suggesting upside of 17.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 170.00 cents and EPS of 214.00 cents.
At the last closing share price the estimated dividend yield is 6.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.0, implying annual growth of 18.6%.
Current consensus DPS estimate is 184.0, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 12.6.
Forecast for FY24:
JP Morgan forecasts a full year FY24 dividend of 185.00 cents and EPS of 229.00 cents.
At the last closing share price the estimated dividend yield is 6.86%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 239.4, implying annual growth of 12.4%.
Current consensus DPS estimate is 206.3, implying a prospective dividend yield of 7.7%.
Current consensus EPS estimate suggests the PER is 11.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PTM PLATINUM ASSET MANAGEMENT LIMITED
Wealth Management & Investments – Overnight Price: $1.63
Bell Potter rates ((PTM)) as Hold (3) –
Platinum Asset Management's FY22 result disappointed Bell Potter, thanks to a -11% slump in earnings as rising costs (which proved a beat) combined with mark-to-market losses on seed investments took their toll.
The broker notes the FY23 year begins with a -15% funds-under-management (FUM) position, when compared with the FY22 average, which will weigh on revenue.
The company's improvement of its ESG processes, combined with launch of a carbon transition fund and health sciences fund, could prove supportive in the longer term, opines the broker.
EPS forecasts rise 5.1% in 2023 and 8.1% in 2024, due to the lower than forecast expense base, but the broker expects outflows to continue.
Hold rating retained, Bell Potter believing the results suggest the worst is behind the company and is now seeking signs of growth in funds under management (FUM).
Target price is steady at $1.70.
This report was published on August 29, 2022.
Target price is $1.70 Current Price is $1.63 Difference: $0.07
If PTM meets the Bell Potter target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $1.92, suggesting upside of 17.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 15.00 cents and EPS of 13.90 cents.
At the last closing share price the estimated dividend yield is 9.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.4, implying annual growth of -6.5%.
Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 9.8%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 13.00 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 7.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.0, implying annual growth of -14.6%.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 8.6%.
Current consensus EPS estimate suggests the PER is 11.6.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PWR PETER WARREN AUTOMOTIVE HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $2.64
Jarden rates ((PWR)) as Buy (1) –
Peter Warren Automotive's FY22 result appears to have pleased Jarden, thanks to a strong second half.
The broker expects continued strength in FY23 as sales of new and used vehicles continue to rise, and as Penfold Group delivers an incremental five-month contribution.
But Jarden expects costs to rise, particularly employee and insurance costs, though this should be offset by the positives mentioned above.
EPS forecasts rise 12% in FY23 and 9.2% in FY24 after upgrading top-line forecasts and in anticipation of higher gross profit margins.
Buy rating retained. Target price falls to $3.99 from $4.27, to reflect fears of a decline in consumer sentiment; potential supply chain disruption; and potential issues surrounding franchise agreements with manufacturers.
This report was published on August 26, 2022.
Target price is $3.99 Current Price is $2.64 Difference: $1.35
If PWR meets the Jarden target it will return approximately 51% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 21.30 cents and EPS of 34.60 cents.
At the last closing share price the estimated dividend yield is 8.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.63.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 20.50 cents and EPS of 33.30 cents.
At the last closing share price the estimated dividend yield is 7.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.93.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((PWR)) as Buy (1) –
A strong result from Peter Warren Automotive according to Moelis, including a 14% beat to consensus forecasts at the profit before tax line. The company reported revenue of $1.7bn, up 5.6% year-on-year, and net profit of $61.7m, up 18.2%.
The broker notes no guidance provided for the year ahead, but anticipates new vehicle demand will continue to exceed supply and a strong order book to provide greater earnings strategy in the coming year, while inflationary pressures will impact.
Forecasts are lifted 17-30% in FY23 and FY24 respectively, reflecting expected higher gross profit margins in FY23. The Buy rating and target price of $3.98 are retained.
This report was published on August 27, 2022.
Target price is $3.98 Current Price is $2.64 Difference: $1.34
If PWR meets the Moelis target it will return approximately 51% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 24.50 cents and EPS of 36.20 cents.
At the last closing share price the estimated dividend yield is 9.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.29.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 20.60 cents and EPS of 29.40 cents.
At the last closing share price the estimated dividend yield is 7.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.98.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PXA PEXA GROUP LIMITED
Overnight Price: $15.04
Jarden rates ((PXA)) as Underweight (4) –
Pexa Group's FY22 result fell at the top end of guidance, a touch shy of consensus, and nosed out Jarden's forecasts, as a step up in prices combined with an increase in market share and hence turnover.
The broker retains a cautious stance given caution surrounding the property market, the broker forecasting a -18.5% slump in market turnover in FY23, compared with consensus forecasts for a -14.5% decline.
Management reiterated margin guidance but Jarden doubts they can withstand a -10% fall in volumes given recent inflation.
EPS forecasts fall -2.3% in FY23; -3.5% in FY24; and -5.5% in FY25. Underweight rating retained. Target price rises to $12.85 from $12.40.
This report was published on August 26, 2022.
Target price is $12.85 Current Price is $15.04 Difference: minus $2.19 (current price is over target).
If PXA meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 29.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.64.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 35.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 42.49.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
QAN QANTAS AIRWAYS LIMITED
Transportation & Logistics – Overnight Price: $5.11
Jarden rates ((QAN)) as Buy (1) –
Jarden upgrades Qantas Airways's EPS forecasts by 50% in FY23; and 1% in FY24 to reflect a pivot in the company's strategy in response to higher fuel costs; as well as the expectation of a recovery in travel.
The broker says Qantas is tinkering with its forward capacity settings to maximise RASK growth and therefore fully offset fuel imposts.
Jarden is cautiously optimistic the strategy will help Qantas deliver on its cost-out target of $1bn, especially given higher leasing, start-up and wage costs.
EPS forecasts fall -4% for FY25. Buy rating retained. Target price eases to $6.30 from $6.40.
This report was published on August 26, 2022.
Target price is $6.30 Current Price is $5.11 Difference: $1.19
If QAN meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $6.26, suggesting upside of 23.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 5.30 cents and EPS of 31.70 cents.
At the last closing share price the estimated dividend yield is 1.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.5, implying annual growth of N/A.
Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.0.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 35.80 cents and EPS of 70.40 cents.
At the last closing share price the estimated dividend yield is 7.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 76.5, implying annual growth of 80.0%.
Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 6.7.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RHC RAMSAY HEALTH CARE LIMITED
Healthcare services – Overnight Price: $70.00
Goldman Sachs rates ((RHC)) as No Rating (-1) –
Ramsay Health Care's FY22 result missed Goldman Sachs' earnings (EBIT) and net-profit-after-tax forecasts, despite reporting in-line revenues, due to the affects of covid, particularly staff recruitment, retention and absenteeism.
The broker says the recovery now appears weaker than expected and management expects wage pressures should ease.
KKR has withdrawn its bid for Ramsay Health Care and the board has unanimously rejected an alternative proposal that does not require access to non-public information on Ramsay's European arm, Ramsay Sante, considering it to be inferior to the first proposal. Both parties appear willing to continue discussions.
Any improvement delivers strong margin leverage, says the broker, given more than 70% of costs are broadly fixed and spies margin upside.
The balance sheet deteriorated after digesting acquisitions and increases in working capital (expected to normalise soon) and management expects capex will remain high out to FY26.
Goldman Sachs is on research restriction but cuts earnings (EBITDA) forecasts -10% in FY23 and -4% in FY24.
This report was published on August 27, 2022.
Current Price is $70.00. Target price not assessed.
Current consensus price target is $79.36, suggesting upside of 12.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 150.00 cents and EPS of 179.00 cents.
At the last closing share price the estimated dividend yield is 2.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.6, implying annual growth of 83.6%.
Current consensus DPS estimate is 131.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 33.0.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 228.00 cents and EPS of 272.00 cents.
At the last closing share price the estimated dividend yield is 3.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 268.1, implying annual growth of 25.5%.
Current consensus DPS estimate is 158.8, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 26.3.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((RHC)) as Overweight (2) –
Ramsay Health Care's FY22 revenue met Jarden's forecasts but earnings (EBITDA) proved a -2.7% miss as covid-related labour costs, low volumes, and general inflation hit the bottom line.
On the positive side, all are expected to be temporary save for staffing costs which are expected to remain stubbornly high for the near term.
EPS forecasts fall -28.3% in FY23; and -9% for FY24; and -1.8% for FY24 to reflect a slow and unpredictable forecast recovery in margins.
Target price falls to $84.93 from $88.00 to reflect the withdrawal of the KKR bid. Overweight rating retained.
This report was published on August 26, 2022.
Target price is $84.93 Current Price is $70.00 Difference: $14.93
If RHC meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $79.36, suggesting upside of 12.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 100.00 cents and EPS of 171.50 cents.
At the last closing share price the estimated dividend yield is 1.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 40.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.6, implying annual growth of 83.6%.
Current consensus DPS estimate is 131.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 33.0.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 104.90 cents and EPS of 266.10 cents.
At the last closing share price the estimated dividend yield is 1.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 268.1, implying annual growth of 25.5%.
Current consensus DPS estimate is 158.8, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 26.3.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((RHC)) as Market Weight (3) –
Despite covid continuing to impact on private hospital profitability through the second half, as additional costs and labour constraints continue to drag, Ramsay Health Care delivered revenue above or in line with expectations across all geographies.
Wilsons anticipates covid impacts to continue into the first half of the new year, but remains positive that the company can return to pre-covid growth.
The broker also notes investment firm KKR has revised its bid, now offering shareholders $88 per share for the first 5,000 shares only, with shares exceeding that being acquired for $78.20, following resistance from Ramsay Sante.
The Market Weight rating is retained and the target price decreases to $72.00 from $81.30.
This report was published on August 29, 2022.
Target price is $72.00 Current Price is $70.00 Difference: $2
If RHC meets the Wilsons target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $79.36, suggesting upside of 12.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 1.30 cents and EPS of 195.30 cents.
At the last closing share price the estimated dividend yield is 0.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.6, implying annual growth of 83.6%.
Current consensus DPS estimate is 131.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 33.0.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 1.80 cents and EPS of 269.00 cents.
At the last closing share price the estimated dividend yield is 0.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 268.1, implying annual growth of 25.5%.
Current consensus DPS estimate is 158.8, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 26.3.
Market Sentiment: 0.5
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: $1.57
Shaw and Partners rates ((RRL)) as Buy (1) –
Regis Resources's FY22 result broadly met guidance and consensus, save for earnings (EBITDA) which fell well short of consensus. Management reiterated FY23 guidance.
Duketon's contribution continues to be pushed out and costs continue to rise courtesy of inflation, and the company reported impairments. EPS forecasts fall for FY23.
Cash flow and cash-flow conversion was strong and the broker reports the company's finance facility matures in the June quarter of FY24.
Gold hedging fell and now 75% of gold sold is unhedged.
Shaw and Partners considers it to be a good underlying result after slicing through the impairment "noise" and considers projects should deliver better in future years.
Buy, High Risk rating and $3.10 target price retained.
This report was published on August 29, 2022.
Target price is $3.10 Current Price is $1.57 Difference: $1.53
If RRL meets the Shaw and Partners target it will return approximately 97% (excluding dividends, fees and charges).
Current consensus price target is $1.77, suggesting upside of 11.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 7.00 cents and EPS of 6.10 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 625.3%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 12.0.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 7.00 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 2.9, implying annual growth of -78.0%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 54.8.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
S32 SOUTH32 LIMITED
Mining – Overnight Price: $4.15
Goldman Sachs rates ((S32)) as Buy (1) –
South32 delivered record full year earnings of US$4.76m and net profit of $US$2.6bn, both in line with Goldman Sachs' expectations. The company also issued a final dividend of US17 cents per share, and announced a US$250m buyback program.
Goldman Sachs notes market focus was on the company's decision to not proceed with the US$700m Dendrobium Next Domain Illawarra met coal project. The broker prefers investments in base metals projects.
Cost guidance came in slightly higher than the broker had expected, although capital expenditure is broadly in line.
The Buy rating is retained and the target price decreases to $4.70 from $5.00.
This report was published on August 26, 2022.
Target price is $4.70 Current Price is $4.15 Difference: $0.55
If S32 meets the Goldman Sachs target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $5.06, suggesting upside of 21.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 36.24 cents and EPS of 52.96 cents.
At the last closing share price the estimated dividend yield is 8.73%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.6, implying annual growth of N/A.
Current consensus DPS estimate is 31.4, implying a prospective dividend yield of 7.6%.
Current consensus EPS estimate suggests the PER is 6.3.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 58.54 cents and EPS of 82.23 cents.
At the last closing share price the estimated dividend yield is 14.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 54.5, implying annual growth of -16.9%.
Current consensus DPS estimate is 24.9, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 7.6.
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
SES SECOS GROUP LIMITED
Paper & Packaging – Overnight Price: $0.13
Canaccord Genuity rates ((SES)) as Speculative Buy (1) –
Secos Group's pre-announced result fell shy of Canaccord Genuity's forecasts due to capacity constraints, shipping delays and delays with a large US customer, Jewett Cameron.
Ex-Jewett, the broker says the company's biopolymer sales rose 24%, suggesting strong demand for compostable plastics.
Gross margins disappointed, deteriorating by roughly -45% half on half.
The broker retains the faith given strong trends supporting sustainability and a sharp increase in manufacturing capacity, but also doubts investors will be keen to jump in without evidence of improvement.
Speculative Buy rating retained. Target price falls to 17c from 20c.
This report was published on August 29, 2022.
Target price is $0.17 Current Price is $0.13 Difference: $0.04
If SES meets the Canaccord Genuity target it will return approximately 31% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.00 cents.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SLC SUPERLOOP LIMITED
Telecommunication – Overnight Price: $0.71
Canaccord Genuity rates ((SLC)) as Buy (1) –
Superloop's FY22 result outpaced Canaccord Genuity's forecasts but management flagged one-off hits to FY23 earnings, as well as an increase in marketing expenditure (although this is expected to be outpaced by returns).
On the upside, management also guided to strong medium-term growth.
The broker admires the company's balance sheet (the company is undertaking an on-market share buyback) and strong organic growth rate, and believes accretive acquisitions are on the cards.
Buy rating retained. Target price falls to $1.27 from $1.36.
This report was published on August 29, 2022.
Target price is $1.27 Current Price is $0.71 Difference: $0.56
If SLC meets the Canaccord Genuity target it will return approximately 79% (excluding dividends, fees and charges).
Current consensus price target is $1.08, suggesting upside of 54.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -2.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 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 177.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.1, implying annual growth of N/A.
Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is N/A.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UNI UNIVERSAL STORE HOLDINGS LIMITED
Apparel & Footwear – Overnight Price: $4.80
Jarden rates ((UNI)) as Upgrade to Buy from Overweight (1) –
Universal Store's FY22 result met guidance thanks to strong and quality trading.
Adding icing to the cake, management upgrades FY23 guidance to reflect strong underlying momentum and a forecast improvement in freight constraints.
Investment in marketing and IT weighed on the FY22 result but the broker expects this will dissipate in FY23.
While the macro context appears concerning, the broker notes mall foot traffic is recovering and management confirms an uptick in trade during July and August.
Rating is upgraded to Buy from Overweight to reflect the guidance beat, and Universal Stores remains the broker's top sector pick. Target price rises to $6.10 from $5.50.
This report was published on August 26, 2022.
Target price is $6.10 Current Price is $4.80 Difference: $1.3
If UNI meets the Jarden target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $5.53, suggesting upside of 15.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 26.00 cents and EPS of 36.40 cents.
At the last closing share price the estimated dividend yield is 5.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 35.7, implying annual growth of 18.1%.
Current consensus DPS estimate is 25.3, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 13.4.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 28.00 cents and EPS of 29.40 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 16.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.6, implying annual growth of 19.3%.
Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 11.2.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((UNI)) as Overweight (1) –
A return of customers to physical stores has supported Universal Store in delivering a slight beat at the revenue line, also reporting earnings of $30.9m, at the top end of guidance range.
Wilsons notes operating expenses were slightly elevated in the year, but expected to normalise moving ahead.
The broker notes commentary appears to suggest weak trading in the final weeks of the year, but expects trading improved in July and August and forecasts year-on-year sales growth of 34.4% in the first half of the coming year.
The Overweight rating and target price of $5.50 are retained.
This report was published on August 29, 2022.
Target price is $5.50 Current Price is $4.80 Difference: $0.7
If UNI meets the Wilsons target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $5.53, suggesting upside of 15.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 23.10 cents and EPS of 38.50 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 35.7, implying annual growth of 18.1%.
Current consensus DPS estimate is 25.3, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 13.4.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 26.70 cents and EPS of 44.50 cents.
At the last closing share price the estimated dividend yield is 5.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.6, implying annual growth of 19.3%.
Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 11.2.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WES WESFARMERS LIMITED
Consumer Products & Services – Overnight Price: $46.39
Jarden rates ((WES)) as Overweight (2) –
Wesfarmers's result outpaced Jarden's forecasts by roughly 6%, trends broadly improving in the second half and into FY23.
Kmart proved the star, sharply outpacing; Bunning was in line; and Officeworks fell short of expectations.
Jarden notes cash conversion was atypically weak after a sharp inventory build post the API purchase and cost inflation.
EPS forecasts rise 6.5% in FY23. The broker forecasts an EPS compound annual growth rate of 4.6%. Also, the broker shaves margin forecasts, spying second-half margin pressure.
Despite being cautious about consumer sentiment over the next few years, the broker is positive for the short term and believes Wesfarmers should outperform peers.
Overweight rating retained. Target price rises to $47 from $44.40.
This report was published on August 26, 2022.
Target price is $47.00 Current Price is $46.39 Difference: $0.61
If WES meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $47.95, suggesting upside of 2.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 188.00 cents and EPS of 218.90 cents.
At the last closing share price the estimated dividend yield is 4.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 209.0, implying annual growth of 0.6%.
Current consensus DPS estimate is 177.4, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 22.3.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 194.00 cents and EPS of 225.50 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 20.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 217.2, implying annual growth of 3.9%.
Current consensus DPS estimate is 184.8, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 21.5.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WPR WAYPOINT REIT LIMITED
REITs – Overnight Price: $2.57
JP Morgan rates ((WPR)) as Overweight (1) –
JP Morgan raises its target price for Waypoint REIT to $3.00 from $2.90 following 1H distributable earnings that exceeded the broker's forecast by 1.3%.
FY22 funds from operations (FFO) guidance of 16.44cpu was reiterated and assumes $150m in asset sales and $100m in a new buyback, explains the analyst.
JP Morgan feels the REIT's aim to diversify away from fuel assets is more a medium-term diversification target.
This report was published on August 30, 2022.
Target price is $3.00 Current Price is $2.57 Difference: $0.43
If WPR meets the JP Morgan target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $2.65, suggesting upside of 3.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY22:
JP Morgan forecasts a full year FY22 dividend of 16.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.3, implying annual growth of -71.5%.
Current consensus DPS estimate is 16.4, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 15.7.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 16.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.4, implying annual growth of 0.6%.
Current consensus DPS estimate is 16.4, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 15.6.
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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For more info SHARE ANALYSIS: ILU - ILUKA RESOURCES LIMITED
For more info SHARE ANALYSIS: INA - INGENIA COMMUNITIES GROUP
For more info SHARE ANALYSIS: JLG - JOHNS LYNG GROUP LIMITED
For more info SHARE ANALYSIS: KAR - KAROON ENERGY LIMITED
For more info SHARE ANALYSIS: LDX - LUMOS DIAGNOSTICS HOLDINGS LIMITED
For more info SHARE ANALYSIS: LRK - LARK DISTILLING CO. LIMITED
For more info SHARE ANALYSIS: LYC - LYNAS RARE EARTHS LIMITED
For more info SHARE ANALYSIS: MAQ - MACQUARIE TECHNOLOGY GROUP LIMITED
For more info SHARE ANALYSIS: MDR - MEDADVISOR LIMITED
For more info SHARE ANALYSIS: MTO - MOTORCYCLE HOLDINGS LIMITED
For more info SHARE ANALYSIS: MVF - MONASH IVF GROUP LIMITED
For more info SHARE ANALYSIS: MVP - MEDICAL DEVELOPMENTS INTERNATIONAL LIMITED
For more info SHARE ANALYSIS: MYX - MAYNE PHARMA GROUP LIMITED
For more info SHARE ANALYSIS: NCM - NEWCREST MINING LIMITED
For more info SHARE ANALYSIS: NST - NORTHERN STAR RESOURCES LIMITED
For more info SHARE ANALYSIS: NXT - NEXTDC LIMITED
For more info SHARE ANALYSIS: OZL - OZ MINERALS LIMITED
For more info SHARE ANALYSIS: PDL - PENDAL GROUP LIMITED
For more info SHARE ANALYSIS: PDN - PALADIN ENERGY LIMITED
For more info SHARE ANALYSIS: PNV - POLYNOVO LIMITED
For more info SHARE ANALYSIS: PPE - PEOPLEIN LIMITED
For more info SHARE ANALYSIS: PPT - PERPETUAL LIMITED
For more info SHARE ANALYSIS: PTM - PLATINUM ASSET MANAGEMENT LIMITED
For more info SHARE ANALYSIS: PWR - PETER WARREN AUTOMOTIVE HOLDINGS LIMITED
For more info SHARE ANALYSIS: PXA - PEXA GROUP LIMITED
For more info SHARE ANALYSIS: QAN - QANTAS AIRWAYS LIMITED
For more info SHARE ANALYSIS: RHC - RAMSAY HEALTH CARE LIMITED
For more info SHARE ANALYSIS: RRL - REGIS RESOURCES LIMITED
For more info SHARE ANALYSIS: S32 - SOUTH32 LIMITED
For more info SHARE ANALYSIS: SES - SECOS GROUP LIMITED
For more info SHARE ANALYSIS: SLC - SUPERLOOP LIMITED
For more info SHARE ANALYSIS: UNI - UNIVERSAL STORE HOLDINGS LIMITED
For more info SHARE ANALYSIS: WES - WESFARMERS LIMITED
For more info SHARE ANALYSIS: WPR - WAYPOINT REIT LIMITED