Daily Market Reports | Mar 02 2023
This story features A2 MILK COMPANY LIMITED, and other companies. For more info SHARE ANALYSIS: A2M
An additional news report on the recommendation, valuation, forecast and opinion changes and updates 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)
A2M ACL ADH (3) ALU APE ARB ASG AX1 BEN BSL CAI CAJ CGC CSX DRE DRR (2) EGG EML EQT ESK GMG GNX GQG HLA HT1 IDX (4) ING (3) IPH IRE KAR MAQ MFG MGV NAB NST NWH OCL OML (2) ORA ORR PLS PPE PWH (2) QBE (2) RWC SHL SUL SYM TLX WBC (2) WSP (2) WTC (2)
A2M A2 MILK COMPANY LIMITED
Dairy – Overnight Price: $6.58
Wilsons rates ((A2M)) as Market Weight (3) –
a2 Milk Co's 1H results beat Wilsons forecasts due to higher-than-expected gross margins. However, FY23 guidance was reiterated as higher expected costs offset the gross margin beat in the 1H.
The analyst cautions the China infant formula market remains challenging with pressure from competing domestic brands and a declining birth rate. A new national standards process for China label product is also thought to present near-term risk to market stability.
The target rises to $6.52 from $5.46 mainly reflective of the broker's roll forward of its earnings capitalisation to FY24 from FY23. The Market-weight rating is unchanged.
This report was published on February 21, 2023.
Target price is $6.52 Current Price is $6.58 Difference: minus $0.06 (current price is over target).
If A2M meets the Wilsons target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.33, suggesting downside of -19.1%(ex-dividends)
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 21.87 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.7, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 33.4.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 15.86 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.3, implying annual growth of 33.5%.
Current consensus DPS estimate is 5.7, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 25.0.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ACL AUSTRALIAN CLINICAL LABS LIMITED
Healthcare services – Overnight Price: $3.61
Goldman Sachs rates ((ACL)) as Neutral (3) –
First half results were mixed with revenue below forecasts while net profit was slightly ahead. It appears Australian Clinical Labs booked $6.2m in "other income" in the period. No FY23 guidance was provided and the 50-70% payout guidance has been maintained.
The company expects to maintain margins that are consistent or superior to the first half, with the Medlab acquisition helping to support margins through a declining trend in covid testing. Neutral rating and $3.40 target maintained.
This report was published on February 20, 2023.
Target price is $3.40 Current Price is $3.61 Difference: minus $0.21 (current price is over target).
If ACL meets the Goldman Sachs target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 20.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.05.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 EPS of 19.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ADH ADAIRS LIMITED
Furniture & Renovation – Overnight Price: $2.36
Canaccord Genuity rates ((ADH)) as Hold (3) –
Adairs' December-half result met Canaccord Genuity's top-line forecasts but disappointed at the earnings (EBIT) level by -6%.
While returns from Focus proved a beat, operational issues at Mocka and Adairs dragged on margins.
The broker says management is addressing the margin question but doubts the cost-issue will be entirely resolved.
While Canaccord Genuity believes the company's share price has more than priced in the bad news, it is keeping a keen eye peeled for any signs of slowing revenue given the macro environment.
EPS and DPS forecasts are cut in FY23 and FY24. Hold recommendation retained. Target price rises to $2.40 from $2.30.
This report was published on February 21, 2023.
Target price is $2.40 Current Price is $2.36 Difference: $0.04
If ADH meets the Canaccord Genuity target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.65, suggesting upside of 12.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 16.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 6.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.6, implying annual growth of 0.9%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 8.9.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 17.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 7.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.87.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.8, implying annual growth of 12.0%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 7.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((ADH)) as Neutral (3) –
First half results were slightly ahead of expectations as a weaker performance by Adairs/Mocka was offset by Focus. Focus benefited from high levels of product availability and short lead times versus peers as well as a more favourable price point, Goldman Sachs explains.
Margins in Adairs and Mocka were well below expectations, predominantly reflecting logistics headwinds. Goldman Sachs expects margins will remain challenged amid a weaker outlook for discretionary expenditure. Neutral rating retained. Target is reduced to $3.10 from $3.15.
This report was published on February 20, 2023.
Target price is $3.10 Current Price is $2.36 Difference: $0.74
If ADH meets the Goldman Sachs target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $2.65, suggesting upside of 12.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 16.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 6.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.6, implying annual growth of 0.9%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 8.9.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 20.00 cents and EPS of 32.00 cents.
At the last closing share price the estimated dividend yield is 8.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.8, implying annual growth of 12.0%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 7.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((ADH)) as Market Weight (3) –
Despite an in-line first half sales result from Adairs, Wilsons notes the retailer's earnings of $35.5m were a -10.3% miss to its forecasts. Post result, the company downgraded its full year earnings guidance by -6.3% at the mid-point to $70-80m.
While the guidance downgrade was disappointing, the broker finds the new range achievable for Adairs but highlights broader headwinds for the homewares sector reduces confidence in the FY24 outlook.
The Market Weight rating is retained and the target price increases to $2.40 from $2.30.
This report was published on February 21, 2023.
Target price is $2.40 Current Price is $2.36 Difference: $0.04
If ADH meets the Wilsons target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.65, suggesting upside of 12.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 17.00 cents and EPS of 27.60 cents.
At the last closing share price the estimated dividend yield is 7.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.55.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.6, implying annual growth of 0.9%.
Current consensus DPS estimate is 16.5, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 8.9.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 20.00 cents and EPS of 30.20 cents.
At the last closing share price the estimated dividend yield is 8.47%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.8, implying annual growth of 12.0%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 7.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ALU ALTIUM
Hardware & Equipment – Overnight Price: $38.59
Goldman Sachs rates ((ALU)) as Neutral (3) –
First half operating earnings (EBITDA) were marginally ahead of Goldman Sachs estimates. Altium has reiterated FY23 guidance for $255-265m in revenue and a 35-37% margin while FY26 aspirations have been maintained.
Goldman Sachs continues to be at the lower end of consensus expectations, because of lower B&S subscription additions and volume headwinds for Octopart. Neutral maintained. Target is $42.
This report was published on February 20, 2023.
Target price is $42.00 Current Price is $38.59 Difference: $3.41
If ALU meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $39.68, suggesting upside of 2.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 56.43 cents and EPS of 70.90 cents.
At the last closing share price the estimated dividend yield is 1.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 74.8, implying annual growth of N/A.
Current consensus DPS estimate is 80.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 51.6.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 65.11 cents and EPS of 82.48 cents.
At the last closing share price the estimated dividend yield is 1.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 46.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 94.8, implying annual growth of 26.7%.
Current consensus DPS estimate is 93.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 40.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components – Overnight Price: $14.11
Wilsons rates ((APE)) as Market Weight (3) –
2022 results were ahead of Wilsons' forecasts. Eagers Automotive has guided to sales growth in 2023 of 15%, reflecting strong order taking, improved vehicle supply and the annualised contributions from acquisitions.
Wilsons assumes some moderation in gross margin in outer year forecasts and a moderating of like-for-like sales growth, yet acknowledges it may prove too conservative.
The broker considers the current share price reflecting fair value and retains a Market Weight rating. Target edges down to $13.10 from $13.20.
This report was published on February 24, 2023.
Target price is $13.10 Current Price is $14.11 Difference: minus $1.01 (current price is over target).
If APE meets the Wilsons target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.54, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 71.00 cents and EPS of 120.90 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 114.8, implying annual growth of -5.4%.
Current consensus DPS estimate is 69.3, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 64.80 cents and EPS of 95.70 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 14.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.6, implying annual growth of -9.8%.
Current consensus DPS estimate is 65.9, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 13.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARB ARB CORPORATION LIMITED
Automobiles & Components – Overnight Price: $31.21
Wilsons rates ((ARB)) as Overweight (1) –
First half results were largely in line with expectations. ARB Corp has maintained a positive outlook for the short term given a strong customer order book and new products.
Wilsons believes the Australian aftermarket segment will benefit from improved personnel recruitment and new vehicle supply.
The broker remains encouraged by the trajectory of growth. The company has also confirmed it will open an ARB-branded retail store in the US in 2023. Overweight maintained. Target is $35.39, up from $34.24.
This report was published on February 22, 2023.
Target price is $35.39 Current Price is $31.21 Difference: $4.18
If ARB meets the Wilsons target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $32.18, suggesting upside of 3.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 65.00 cents and EPS of 117.50 cents.
At the last closing share price the estimated dividend yield is 2.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 122.5, implying annual growth of -18.0%.
Current consensus DPS estimate is 65.5, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 25.5.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 75.00 cents and EPS of 136.40 cents.
At the last closing share price the estimated dividend yield is 2.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 137.4, implying annual growth of 12.2%.
Current consensus DPS estimate is 71.3, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 22.7.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASG AUTOSPORTS GROUP LIMITED
Automobiles & Components – Overnight Price: $2.15
Wilsons rates ((ASG)) as Overweight (1) –
Autosports Group delivered a strong first half and a beat to Wilsons' forecasts, reporting 50% year-on-year profit before tax growth, while conditions in January already appear encouraging.
The company benefited not only from strong like-for-like sales, but also contributions from acquisitions and resilient luxury demand, the broker explains.
The broker expects growing order banks and improving supply constraints can provide tailwinds through to FY24, and highlights its outer year forecasts may prove too conservative.
The Overweight rating is retained and the target price decreases to $3.31 from $3.43.
This report was published on February 23, 2023.
Target price is $3.31 Current Price is $2.15 Difference: $1.16
If ASG meets the Wilsons target it will return approximately 54% (excluding dividends, fees and charges).
Current consensus price target is $2.90, suggesting upside of 34.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 21.00 cents and EPS of 38.20 cents.
At the last closing share price the estimated dividend yield is 9.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 35.4, implying annual growth of 33.3%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 6.1.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 19.00 cents and EPS of 34.60 cents.
At the last closing share price the estimated dividend yield is 8.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 30.0, implying annual growth of -15.3%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 7.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AX1 ACCENT GROUP LIMITED
Apparel & Footwear – Overnight Price: $2.22
Wilsons rates ((AX1)) as Market Weight (3) –
First half earnings were pre-released. Revenue reflected a strong return to stores. Wilsoons is "not uncomfortable" with the inventory position after the clearance of discontinued brands occurred in the first half.
Accent Group provided no quantitative guidance and continues to focus on full margin sales from its core range. The broker remains cautious because of the broader macroeconomic environment and retains a Market Weight rating with a $2.10 target.
This report was published on February 24, 2023.
Target price is $2.10 Current Price is $2.22 Difference: minus $0.12 (current price is over target).
If AX1 meets the Wilsons target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.26, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 15.50 cents and EPS of 17.30 cents.
At the last closing share price the estimated dividend yield is 6.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.3, implying annual growth of 163.3%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 7.8%.
Current consensus EPS estimate suggests the PER is 14.5.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 12.10 cents and EPS of 15.10 cents.
At the last closing share price the estimated dividend yield is 5.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.70.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.5, implying annual growth of -5.2%.
Current consensus DPS estimate is 13.2, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 15.3.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BEN BENDIGO & ADELAIDE BANK LIMITED
Banks – Overnight Price: $9.72
Goldman Sachs rates ((BEN)) as Neutral (3) –
First half cash earnings were ahead of expectations amid higher-than-expected revenue that was partially offset by lower-than-expected other income and higher bad debts.
While net interest margins outperformed, Goldman Sachs believes this may have come at the expense of volume momentum which will require more investment in price to turn around.
Intense industry-wide competition has been signalled as a key area of uncertainty and therefore Bendigo & Adelaide Bank has distanced its previous net interest margin guidance for the second half. Neutral retained and the target is reduced to $10.62 from $10.91.
This report was published on February 20, 2023.
Target price is $10.62 Current Price is $9.72 Difference: $0.9
If BEN meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $10.37, suggesting upside of 6.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 62.00 cents and EPS of 92.00 cents.
At the last closing share price the estimated dividend yield is 6.38%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 93.5, implying annual growth of 6.8%.
Current consensus DPS estimate is 60.0, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 10.4.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 66.00 cents and EPS of 89.00 cents.
At the last closing share price the estimated dividend yield is 6.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.8, implying annual growth of -5.0%.
Current consensus DPS estimate is 60.8, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BSL BLUESCOPE STEEL LIMITED
Steel & Scrap – Overnight Price: $19.82
Goldman Sachs rates ((BSL)) as Buy (1) –
While first half earnings (EBIT) were in the middle of guidance and cash generation was strong, Goldman Sachs finds BlueScope Steel's outlook for the second half is much weaker than expected.
This stems from lower steel price assumptions and a flat outlook for Australian domestic steel volumes rather than differences in input costs.
The broker suspects the guidance (2H EBIT $480-550m), particularly in relation to Australian domestic volumes, is conservative. Buy rating maintained. Target is reduced to $21.30 from $21.40.
This report was published on February 20, 2023.
Target price is $21.30 Current Price is $19.82 Difference: $1.48
If BSL meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $18.62, suggesting downside of -6.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 50.00 cents and EPS of 214.00 cents.
At the last closing share price the estimated dividend yield is 2.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 204.3, implying annual growth of -64.3%.
Current consensus DPS estimate is 83.9, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 9.7.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 50.00 cents and EPS of 181.00 cents.
At the last closing share price the estimated dividend yield is 2.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 157.0, implying annual growth of -23.2%.
Current consensus DPS estimate is 79.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CAI CALIDUS RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.23
Canaccord Genuity rates ((CAI)) as Speculative Buy (1) –
Production in January was better than Canaccord Genuity expected as Calidus Resources recovered 5200 ounces of gold during January from the Warrawoona mine, Western Australia.
The mill operated at a capacity higher than nameplate in the last two weeks of January, which is likely to be a result of softer oxide material, the broker suggests. The company has indicated discussions are advanceed in order to restructure a portion of debt to provide flexibility.
A Speculative Buy rating is retained. Target is $0.80.
This report was published on February 17, 2023.
Target price is $0.80 Current Price is $0.23 Difference: $0.57
If CAI meets the Canaccord Genuity target it will return approximately 248% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CAJ CAPITOL HEALTH LIMITED
Healthcare services – Overnight Price: $0.27
Wilsons rates ((CAJ)) as Overweight (1) –
In the first half results, Wilsons assesses Capitol Health has demonstrated sustainable improvements in earnings quality. Moreover, a consistent performance is building confidence.
The broker suspects a common view that the business is a potential consolidation target has meant a "crowded trade" has develloped, explaining why the stock may be vulnerable at times and lack new buyers.
The broker adds that its South Australian exposure is "strategically interesting". Overweight maintained. Target is $0.35.
This report was published on February 24, 2023.
Target price is $0.35 Current Price is $0.27 Difference: $0.08
If CAJ meets the Wilsons target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 1.20 cents and EPS of 1.00 cents.
At the last closing share price the estimated dividend yield is 4.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.00.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 1.30 cents and EPS of 1.40 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 19.29.
Market Sentiment: 0.0
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: $2.53
Wilsons rates ((CGC)) as Downgrade to Market Weight from Overweight (3) –
2022 results disappointed Wilsons. While seasonal and agricultural issues always present a bumpy ride, the broker is increasingly underwhelmed by the trajectory of earnings in the produce segment where significant capital has been invested, only to deliver increased volume at unattractive returns.
Nevertheless, Wilsons remains attracted to the assets and believes a potential catalyst would be evidence of earnings returning to management's targets. Rating is downgraded to Market Weight from Overweight. Target is lowered to $2.51 from $2.93.
This report was published on February 22, 2023.
Target price is $2.51 Current Price is $2.53 Difference: minus $0.02 (current price is over target).
If CGC meets the Wilsons target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.83, suggesting upside of 12.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 22.20 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 8.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.2, implying annual growth of 96.1%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 17.8.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 15.00 cents and EPS of 17.40 cents.
At the last closing share price the estimated dividend yield is 5.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.7, implying annual growth of 24.6%.
Current consensus DPS estimate is 10.8, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 14.3.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CSX CLEANSPACE HOLDINGS LIMITED
Medical Equipment & Devices – Overnight Price: $0.40
Wilsons rates ((CSX)) as Market Weight (3) –
A somewhat mixed bag for CleanSpace, which reported a -85% year-on-year sales decline in the first half as the company's revenue generation "continues to be plagued by declining healthcare demand", according to Wilsons.
New contracts should prove positive for the healthcare business, but are expected to take some time to play out.
While the industrials segment lifted sales 28% half-on-half, launching two new respirators and announcing a sales agreement with LineDrive in the half, the business remains significantly below pre-covid levels.
The broker feels investors and customers alike are struggling to see where CleanSpace fits in hospital and healthcare settings post-covid. The Market Weight rating is retained and the target price decreases to $0.55 from $0.71.
This report was published on February 21, 2023.
Target price is $0.55 Current Price is $0.40 Difference: $0.15
If CSX meets the Wilsons target it will return approximately 38% (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 14.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.78.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 9.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.08.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DRE DREADNOUGHT RESOURCES LIMITED
Mining – Overnight Price: $0.09
Canaccord Genuity rates ((DRE)) as Speculative Buy (1) –
Dreadnought Resources has flagged an exploration target range for the Ironstone in its Mangaroon project in Western Australia. A target of 50-100mt at 0.9-1.3% TREO has been defined for the 40 km of mapped and lightly drilled ironstone.
This is additional to the current resource at Yin. Canaccord Genuity has updated its modellling following the recent placement and the exploration target. Speculative Buy retained with a target of $0.24.
This report was published on February 20, 2023.
Target price is $0.24 Current Price is $0.09 Difference: $0.155
If DRE meets the Canaccord Genuity target it will return approximately 182% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DRR DETERRA ROYALTIES LIMITED
Iron Ore – Overnight Price: $4.53
Canaccord Genuity rates ((DRR)) as Hold (3) –
Deterra Royalties' December-half result met consensus and Canaccord Genuity's expectations, thanks to its typically strong earnings (EBITDA) margins of 95%.
The broker says the company is well capitalised and has no shortage of royalty opportunities as mining companies seek alternative financing to the less-than-vibrant share market, but expect Deterra is likely to struggle to find value.
Meanwhile, Canaccord Genuity appreciates the company's dividend and earnings quality.
Hold rating and $5.10 target price retained.
This report was published on February 20, 2023.
Target price is $5.10 Current Price is $4.53 Difference: $0.57
If DRR meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.93, suggesting upside of 8.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 28.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 6.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.2, implying annual growth of -13.5%.
Current consensus DPS estimate is 30.6, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 27.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 5.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.0, implying annual growth of -0.7%.
Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 6.7%.
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
Goldman Sachs rates ((DRR)) as Neutral (3) –
First half results were in line with Goldman Sachs estimates. Deterra Royalties continues to evaluate options, having witnessed an increase in opportunities, particularly in primary royalties in the battery materials segment.
The broker revises FY23-24 estimates slightly and reduces the target to $4.40 from $4.50. Neutral maintained.
This report was published on February 17, 2023.
Target price is $4.40 Current Price is $4.53 Difference: minus $0.13 (current price is over target).
If DRR meets the Goldman Sachs target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.93, suggesting upside of 8.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 27.70 cents and EPS of 27.70 cents.
At the last closing share price the estimated dividend yield is 6.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.2, implying annual growth of -13.5%.
Current consensus DPS estimate is 30.6, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 24.20 cents and EPS of 24.20 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.0, implying annual growth of -0.7%.
Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 6.7%.
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
EGG ENERO GROUP LIMITED
Media – Overnight Price: $1.98
Canaccord Genuity rates ((EGG)) as Buy (1) –
Canaccord Genuity observes the first half revealed diverging stories with OB Media doing the heavy lifting and agencies weak. The broker finds the difference in the performance of the two divisions was stark, with the former surpassing estimates and the latter disappointing.
The net result was a 10% beat at the EBITDA level. The broker also highlights the absence of like-for-like disclosure in Enero Group's statement as this made it difficult to work out the contributions from certain acquisitions.
The market expected a softer outlook and sold off the shares, making the stock even cheaper, the broker adds. Buy rating and $4.75 target are unchanged.
This report was published on February 20, 2023.
Target price is $4.75 Current Price is $1.98 Difference: $2.77
If EGG meets the Canaccord Genuity target it will return approximately 140% (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 13.00 cents and EPS of 33.00 cents.
At the last closing share price the estimated dividend yield is 6.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.00.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 16.00 cents and EPS of 39.00 cents.
At the last closing share price the estimated dividend yield is 8.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.08.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
EML EML PAYMENTS LIMITED
Business & Consumer Credit – Overnight Price: $0.47
Wilsons rates ((EML)) as Market Weight (3) –
While EML Payments suggests it is making headway on its strategic review and operational overhaul, Wilsons highlights key to investors is how long this will take to translate into financial returns.
The company is aiming to reduce controllable costs by -10-15% from FY24.
Wilsons feels the multiple regulatory overhangs in both Ireland and the UK are suppressing the company's true valuation, and expects underlying value is closer to $1.06 per share.
The Market Weight rating is retained and the target price decreases to $0.58 from $0.63.
This report was published on February 23, 2023.
Target price is $0.58 Current Price is $0.47 Difference: $0.105
If EML meets the Wilsons target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $1.31, suggesting upside of 175.8%(ex-dividends)
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 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 2.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.4.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 67.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.8, implying annual growth of 65.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.9.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
EQT EQT HOLDINGS LIMITED
Diversified Financials – Overnight Price: $25.59
Wilsons rates ((EQT)) as Overweight (1) –
EQT Holdings' first half results were slightly ahead of Wilsons' estimates. Underlying funds under management growth was flat because of market volatility. No quantitative guidance was provided while the business remains comfortable with its strategy and ability to grow share.
The broker's near-term upgrades are driven by the resetting of the funds base which returns to underlying growth in the second half. Overweight maintained. Target is raised to $33.90 from $32.30.
This report was published on February 24, 2023.
Target price is $33.90 Current Price is $25.59 Difference: $8.31
If EQT meets the Wilsons target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 107.90 cents and EPS of 119.80 cents.
At the last closing share price the estimated dividend yield is 4.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.36.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 149.50 cents and EPS of 163.50 cents.
At the last closing share price the estimated dividend yield is 5.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.65.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ESK ETHERSTACK PLC
Telecommunication – Overnight Price: $0.54
Wilsons rates ((ESK)) as Overweight (1) –
Wilsons views Etherstack's FY22 earnings report as lower than expected.
The broker sees the 'miss' as reflective of the "challenges" in negotiating contracts with large companies post pandemic, although the analyst points to some future upside with Samsung.
Accounting for the slower sales revenue, Wilsons lowers EPS forecasts by -17% for FY23 and -32% for FY24, but remains optimistic about the growth opportunities.
An Overweight rating is maintained and the target is 69c.
This report was published on March 21, 2023.
Target price is $0.69 Current Price is $0.54 Difference: $0.15
If ESK meets the Wilsons target it will return approximately 28% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY23:
Wilsons forecasts a full year FY23 EPS of 2.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.62.
Forecast for FY24:
Wilsons forecasts a full year FY24 EPS of 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.43.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GMG GOODMAN GROUP
Infra & Property Developers – Overnight Price: $19.43
Jarden rates ((GMG)) as Neutral (3) –
Considering the 1H23 results for Goodman Group, Jarden views its earnings forecasts as potentially on the low side with an expected compound EPS growth rate of 8%-9% from FY23 to FY27, currently in place.
To date, management has not seen any slowdown from macro headwinds, yet it retains a conservative and disciplined strategic focus.
Jarden points to a lack of transparency on all the "moving parts" of the business as obscuring when higher rates may start to impact on the business.
The analyst slightly upgrades earnings forecasts by 1.6% for FY23 and 3.2% for FY24. A Neutral rating and $22.40 target are retained.
This report was published on March 17, 2023.
Target price is $22.40 Current Price is $19.43 Difference: $2.97
If GMG meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $21.85, suggesting upside of 12.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 30.00 cents and EPS of 94.00 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 93.9, implying annual growth of -48.7%.
Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 20.7.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 30.00 cents and EPS of 102.00 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.05.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 101.6, implying annual growth of 8.2%.
Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 19.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GNX GENEX POWER LIMITED
EV, Solar & Batteries – Overnight Price: $0.16
Canaccord Genuity rates ((GNX)) as Speculative Buy (1) –
Genex Power's maiden December-half profit slightly missed the broker, despite a 52% increase on the previous December half, due to higher costs and lower other income.
The broker observes M&A is heating up in the renewable energy space and expects Genex Power could become a target given recent contract wins.
Pumped Hydro construction is on schedule, and Genex's US Bouldercombe battery project is set to launch in the June quarter, which should start to deliver as the battery market gains momentum.
Speculative Buy rating and 25c target price are retained.
This report was published on February 21, 2023.
Target price is $0.25 Current Price is $0.16 Difference: $0.09
If GNX meets the Canaccord Genuity target it will return approximately 56% (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 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 80.00.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 160.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GQG GQG PARTNERS INC
Wealth Management & Investments – Overnight Price: $1.50
Goldman Sachs rates ((GQG)) as Neutral (3) –
FY22 net profit was ahead of Goldman Sachs estimates and management fees also beat forecasts, driven by higher average funds under management. Costs were a partial offset.
Despite positive operating momentum and a relatively low fee offering, the broker is cautious about GQG Partners' returns, which remain negative. Neutral maintained. Target is raised to $1.74 from $1.55.
This report was published on February 19, 2023.
Target price is $1.74 Current Price is $1.50 Difference: $0.235
If GQG meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $2.04, suggesting upside of 35.3%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 11.58 cents and EPS of 11.58 cents.
At the last closing share price the estimated dividend yield is 7.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.9, implying annual growth of N/A.
Current consensus DPS estimate is 12.4, implying a prospective dividend yield of 8.2%.
Current consensus EPS estimate suggests the PER is 11.7.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 13.02 cents and EPS of 13.02 cents.
At the last closing share price the estimated dividend yield is 8.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.1, implying annual growth of 9.3%.
Current consensus DPS estimate is 13.2, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 10.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HLA HEALTHIA LIMITED
Healthcare services – Overnight Price: $1.35
Jarden rates ((HLA)) as Buy (1) –
Healthia is outlaying -$14m for eight hand therapy clinics in Victoria, as well as eight optical stores (six in Victoria and two in QLD).
The broker expects these stores to contribute an annualised $10.5m in revenue and $2.9m in EBITDA.
As the broker has previously allowed for such acquisitions within its forecasts, the $2.23 target price is unchanged. Buy.
This report was published on February 20, 2023.
Target price is $2.23 Current Price is $1.35 Difference: $0.88
If HLA meets the Jarden target it will return approximately 65% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 3.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 2.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.27.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 5.00 cents and EPS of 13.10 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.31.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
HT1 HT&E LIMITED
Out of Home Advertising – Overnight Price: $1.14
Wilsons rates ((HT1)) as Overweight (1) –
After a robust 2022, 2023 has all signs of a looming macro economic slowdown and, fortuitously, Wilsons notes HT&E in early January announced the sale of its stake in Soprano.
The broker believes it is also time to divest Cody Outdoor and focus on the core business. First quarter radio revenues were flat, cycling tougher comparables. The broker's underlying changes to earnings reflect a higher degree of cost inflation.
Overweight maintained. Target is reduced to $1.52 from $1.70.
This report was published on February 22, 2023.
Target price is $1.52 Current Price is $1.14 Difference: $0.38
If HT1 meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $1.52, suggesting upside of 33.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 10.40 cents and EPS of 11.40 cents.
At the last closing share price the estimated dividend yield is 9.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.3, implying annual growth of N/A.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 9.3.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 11.00 cents and EPS of 13.50 cents.
At the last closing share price the estimated dividend yield is 9.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.9, implying annual growth of 13.0%.
Current consensus DPS estimate is 10.6, implying a prospective dividend yield of 9.3%.
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
IDX INTEGRAL DIAGNOSTICS LIMITED
Medical Equipment & Devices – Overnight Price: $2.79
Canaccord Genuity rates ((IDX)) as Buy (1) –
First half results were slightly higher than Canaccord Genuity expected. There were some persisting concerns around operating margin and volume growth.
Going forward, the broker expects topline growth and a relatively fixed radiologist cost base that should deliver an improvement in operating leverage.
The broker makes small changes to forecasts for Integral Diagnostics, noting the opportunity to return to positive patient volume growth combined with planned price rises for select procedures. Buy rating maintained. Target is reduced to $2.95 from $3.00.
This report was published on February 20, 2023.
Target price is $2.95 Current Price is $2.79 Difference: $0.16
If IDX meets the Canaccord Genuity target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $2.81, suggesting upside of 0.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 6.40 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 2.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 39.0%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 28.8.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 9.60 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 36.1%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((IDX)) as Buy (1) –
Goldman Sachs flags a miss to estimates in the first half at the net profit line while revenue growth was ahead. Integral Diagnostics experienced sequential improvement in market share during the half in Australia while a strong recovery was signalled in New Zealand.
No FY23 guidance was provided although management anticipates a "materially stronger second half". Buy rating maintained. Target is $3.30.
This report was published on February 17, 2023.
Target price is $3.30 Current Price is $2.79 Difference: $0.51
If IDX meets the Goldman Sachs target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $2.81, suggesting upside of 0.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 11.00 cents and EPS of 14.00 cents.
At the last closing share price the estimated dividend yield is 3.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 39.0%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 28.8.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 14.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 5.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 36.1%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((IDX)) as Overweight (2) –
Management at Integral Diagnostics believes margins have bottomed and the recovery commences in the 2H. This comes as first half underlying profit undershot the consensus forecast by -36%.
Jarden explains the profit miss was due to interest costs, wage inflation, staff shortages, sick leave and a heavy reliance on casual staff.
While the broker materially lowers its FY23-25 earnings forecasts to reflect a more subdued margin profile, the Overweight rating is kept. It’s felt the shares have valuation support and an elective surgery backlog lends upside.
The target falls to $3.04 from $3.55.
This report was published on February 20, 2023.
Target price is $3.04 Current Price is $2.79 Difference: $0.25
If IDX meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $2.81, suggesting upside of 0.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 4.30 cents and EPS of 7.70 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 39.0%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 28.8.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 6.40 cents and EPS of 13.80 cents.
At the last closing share price the estimated dividend yield is 2.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 36.1%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((IDX)) as Market Weight (3) –
Rising cost imposts weighed on 1H23 earnings for Integral Diagnostics according to Wilsons, resulting in a weaker than expected report.
Management offered no guidance except to say the 2H23 would be better. The broker lowers FY23 forecasts by -22% to account for the 1H23 miss and FY24 earnings forecast moves -3% lower.
A Market Weight rating is maintained and the target is lowered to $2.63.
This report was published on March 21, 2023.
Target price is $2.63 Current Price is $2.79 Difference: minus $0.16 (current price is over target).
If IDX meets the Wilsons target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.81, suggesting upside of 0.7%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 7.50 cents and EPS of 9.90 cents.
At the last closing share price the estimated dividend yield is 2.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 39.0%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 28.8.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 10.00 cents and EPS of 16.20 cents.
At the last closing share price the estimated dividend yield is 3.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 36.1%.
Current consensus DPS estimate is 8.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ING INGHAMS GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $3.18
Bell Potter rates ((ING)) as Hold (3) –
Following Inghams Group's 1H profit, which was slightly in advance of expectation, Bell Potter keeps its $2.90 target given its higher earnings forecasts were offset by a higher net debt estimate.
The analyst notes higher selling prices partially recovered cost pressures in the half and management is aiming to raise prices further, as it expects cost of sales inflation to remain into the 2H.
The company noted pricing of feed ingredients stabilised in the 1H though remain elevated.
The Hold rating is unchanged.
This report was published on February 20, 2023.
Target price is $2.90 Current Price is $3.18 Difference: minus $0.28 (current price is over target).
If ING meets the Bell Potter target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.10, suggesting downside of -2.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Bell Potter forecasts a full year FY23 dividend of 13.00 cents and EPS of 20.60 cents.
At the last closing share price the estimated dividend yield is 4.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.6, implying annual growth of 86.2%.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 15.00 cents and EPS of 24.80 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 12.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.5, implying annual growth of 22.2%.
Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((ING)) as Sell (5) –
The recovery for Inghams Group in the first half in Australia was better than expected while the New Zealand performance was weaker. Goldman Sachs upgrades FY23 and FY24 EBITDA estimates by 3.4% and 1.8%, respectively.
The broker is wary that improvements in free cash flow may lag. This could limit the multiple the market is prepared to pay for the stock. No need for equity raisings are envisaged at this point. Sell maintained. Target is $2.55.
This report was published on February 17, 2023.
Target price is $2.55 Current Price is $3.18 Difference: minus $0.63 (current price is over target).
If ING meets the Goldman Sachs target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.10, suggesting downside of -2.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 10.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.6, implying annual growth of 86.2%.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 13.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 4.09%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.5, implying annual growth of 22.2%.
Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((ING)) as Sell (5) –
Jarden retains its Sell rating for Inghams Group following 1H results showing a fall in volumes due to fewer high-quality eggs because of lower fertility levels, an issue which is set to continue in the 2H.
Underlying earnings (EBITDA) of $83.5m for the 1H were well ahead of the consensus forecast though operating cash flow (OCF) was very weak, observes the analyst.
While the broker expects a more stabilised base for operating earnings, a capex catch-up (post covid) will likely limit investment in the business.
The target rises to $2.19 from $2.18. Sell.
This report was published on February 20, 2023.
Target price is $2.19 Current Price is $3.18 Difference: minus $0.99 (current price is over target).
If ING meets the Jarden target it will return approximately minus 31% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.10, suggesting downside of -2.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 EPS of 18.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.6, implying annual growth of 86.2%.
Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY24:
Jarden forecasts a full year FY24 EPS of 20.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.5, implying annual growth of 22.2%.
Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IPH IPH LIMITED
Legal – Overnight Price: $8.09
Jarden rates ((IPH)) as Buy (1) –
IPH delivered slightly better 1H23 results than forecast notes Jarden with the Smart & Bigger (Canada) contribution higher than expected.
Domestically the company experienced market share loss and although Asia was up 10% on the year it was flat on the previous half year period.
Leverage remained in the targeted range of 1.5x-2x at 1.6x with net debt of -$285.9m with further acquisitions possible.
A Buy rating is maintained and the target is lowered to $10.12 from $10.85.
This report was published on March 17, 2023.
Target price is $10.12 Current Price is $8.09 Difference: $2.03
If IPH meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $10.42, suggesting upside of 28.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 35.00 cents and EPS of 44.50 cents.
At the last closing share price the estimated dividend yield is 4.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 41.8, implying annual growth of 73.5%.
Current consensus DPS estimate is 32.4, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 19.4.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 38.00 cents and EPS of 47.90 cents.
At the last closing share price the estimated dividend yield is 4.70%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.4, implying annual growth of 3.8%.
Current consensus DPS estimate is 34.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 18.6.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IRE IRESS LIMITED
Wealth Management & Investments – Overnight Price: $9.23
Wilsons rates ((IRE)) as Market Weight (3) –
Having delivered a below consensus FY22, Wilsons finds the outlook for Iress to be "muted" ahead of the company's investor day in late April.
The broker anticipates net profit guidance around $55m, ahead of any material cost outs announced and deployed in the second half.
The broker expects efficiency projects, including prioritisation of internal resources, to be a focus point, with Wilsons adjusting its forecasts to account for some expected efficiency improvements.
The Market Weight rating is retained and the target price decreases to $9.52 from $10.05.
This report was published on February 21, 2023.
Target price is $9.52 Current Price is $9.23 Difference: $0.29
If IRE meets the Wilsons target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $9.77, suggesting upside of 5.8%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 46.00 cents and EPS of 30.10 cents.
At the last closing share price the estimated dividend yield is 4.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 34.3, implying annual growth of 19.9%.
Current consensus DPS estimate is 46.0, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 26.9.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 46.00 cents and EPS of 41.50 cents.
At the last closing share price the estimated dividend yield is 4.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.0, implying annual growth of 25.4%.
Current consensus DPS estimate is 46.0, implying a prospective dividend yield of 5.0%.
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
KAR KAROON ENERGY LIMITED
Crude Oil – Overnight Price: $2.24
Jarden rates ((KAR)) as Overweight (2) –
Karoon Energy reported that the Neon-1 well (Santos Basin, Brazil) provided a sufficient result to move to the second Neon well.
Jarden suggests the discovery supports the potential for the commercial development of this well, however, the broker views that as out to 2027/28 and dependent on a good result for the Neon-2 well, with results expected in March.
The Overweight rating and $2.50 target are unchanged.
This report was published on March 17, 2023.
Target price is $2.50 Current Price is $2.24 Difference: $0.26
If KAR meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $3.18, suggesting upside of 41.8%(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 42.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 3.7.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 10.00 cents and EPS of 54.20 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 4.13.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.8, implying annual growth of 19.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 3.1.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MAQ MACQUARIE TELECOM GROUP LIMITED
Telecommunication – Overnight Price: $59.20
Wilsons rates ((MAQ)) as Market Weight (3) –
First half results were ahead of estimates, particularly in the realm of cloud services and government. Data centre EBITDA grew 61%, driven by the new hyper-scale customer being deployed quickly to scale.
Macquarie Telecom has guided to FY23 EBITDA of $102-104m. Capital expenditure growth has been trimmed mainly because of lower maintenance expenditure. Wilsons retains a Market Weight rating with a $69.14 target.
This report was published on February 22, 2023.
Target price is $69.14 Current Price is $59.20 Difference: $9.94
If MAQ meets the Wilsons target it will return approximately 17% (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 94.72.
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 66.07.
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MFG MAGELLAN FINANCIAL GROUP LIMITED
Wealth Management & Investments – Overnight Price: $8.76
Jarden rates ((MFG)) as Underweight (4) –
Despite considerable management restructuring and remedial measures to strengthen the company, Jarden remains downbeat on the outlook for Magellan Financial.
The group reported a slight miss in 1H23 earnings, notes the broker and forecasts are adjusted by -4.6% for FY23 and 4% for FY24.
With ongoing fund outflows, margin pressures and the lagging performance of infrastructure and global equities weighing on sentiment, Jarden retains an Underweight rating.
The target is raised to $8.40 from $7.95.
This report was published on March 17, 2023.
Target price is $8.40 Current Price is $8.76 Difference: minus $0.36 (current price is over target).
If MFG meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.55, suggesting upside of 9.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 81.00 cents and EPS of 91.50 cents.
At the last closing share price the estimated dividend yield is 9.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 95.9, implying annual growth of -53.6%.
Current consensus DPS estimate is 79.2, implying a prospective dividend yield of 9.0%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 56.00 cents and EPS of 84.00 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 10.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 77.0, implying annual growth of -19.7%.
Current consensus DPS estimate is 58.0, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MGV MUSGRAVE MINERALS LIMITED
Gold & Silver – Overnight Price: $0.17
Canaccord Genuity rates ((MGV)) as Speculative Buy (1) –
Musgrave Minerals' Stage 1 Prefeasibility Study for the Cue Gold Project in WA is due for publication in March but Canaccord Genuity would not be surprised if it is slightly overdue.
The broker expects Cue will offer a high-margin operation on modest average production.
Canaccord Genuity also believes Cue's strategic location and high-grade nature of the deposit raises the company's prospects as a takeover target. Given the company's low share price, the broker doubts a bid at these levels would be successful.
Given growing industry funding challenges, the broker does not rule out an equity dilution.
Speculative Buy rating retained. Target price falls to 45c from 55c.
This report was published on February 21, 2023.
Target price is $0.45 Current Price is $0.17 Difference: $0.275
If MGV meets the Canaccord Genuity target it will return approximately 157% (excluding dividends, fees and charges).
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 17.50.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.75.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NAB NATIONAL AUSTRALIA BANK LIMITED
Banks – Overnight Price: $29.38
Jarden rates ((NAB)) as Overweight (2) –
Jarden points to a "solid" 1Q23 earnings report for National Australia Bank, noting lower than expected bad and doubtful debts as well as higher income from markets boosted the results.
On balance, the analyst views National Australia Bank as well positioned to weather the flagged pressure on margins as highlighted by Commonwealth Bank ((CBA)) with management less focussed on the competitive mortgage market.
Jarden tweaks the EPS forecasts by 0.3% for FY23 and -1% for FY24.
An Overweight rating is maintained and the target is trimmed to $33 from $33.50.
This report was published on March 17, 2023.
Target price is $33.00 Current Price is $29.38 Difference: $3.62
If NAB meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $31.20, suggesting upside of 6.2%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 163.00 cents and EPS of 243.70 cents.
At the last closing share price the estimated dividend yield is 5.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 246.1, implying annual growth of 15.0%.
Current consensus DPS estimate is 171.7, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 11.9.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 164.00 cents and EPS of 235.40 cents.
At the last closing share price the estimated dividend yield is 5.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 243.9, implying annual growth of -0.9%.
Current consensus DPS estimate is 177.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.0.
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: $10.66
Canaccord Genuity rates ((NST)) as Upgrade to Buy from Hold (1) –
Northern Star Resources' December-half result sharply missed consensus and Canaccord Genuity's forecasts, due to a blip in operating costs, higher corporate costs, and inventory movements.
On the upside, the balance sheet is solid, the company boasting cash and bullion of $495m and debt of $350m, yielding a net cash close at December 31 of $145m. Add to that $650m in undrawn facilities and the company has plenty of project funding.
Management retained sales and cost guidance, suggesting a second half skew, and the broker expects capital expenditure guidance also to ease.
The broker upgrades to Buy from Hold on valuation. Target price is steady at $13.10.
This report was published on February 20, 2023.
Target price is $13.10 Current Price is $10.66 Difference: $2.44
If NST meets the Canaccord Genuity target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $12.26, suggesting upside of 15.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 24.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 2.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.5, implying annual growth of -28.3%.
Current consensus DPS estimate is 27.4, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 40.2.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 27.00 cents and EPS of 75.00 cents.
At the last closing share price the estimated dividend yield is 2.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 45.9, implying annual growth of 73.2%.
Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 23.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NWH NRW HOLDINGS LIMITED
Mining Sector Contracting – Overnight Price: $2.56
Jarden rates ((NWH)) as Overweight (2) –
Jarden highlights wet weather continued to weigh on the reported 1H23 results for NRW Holdings but remains upbeat about the prospects for the 2H23.
Notably the pipeline of potential works remains over $19bn and work-in-hand stands at $2.6bn a lift on FY22 of $2.3bn, although management flagged the start of "irresponsible pricing" which means they will be more selective going forward.
A lower expected tax rate has lifted the FY23 EPS forecast by 3.6% and improved margins to the long run average for the civil division have raised the FY24 EPS forecast by 5.8%, notes the analyst.
An Overweight rating is retained and the target raised to $2.85 from $2.50.
This report was published on March 20, 2023.
Target price is $2.85 Current Price is $2.56 Difference: $0.29
If NWH meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.80, suggesting upside of 9.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 15.80 cents and EPS of 25.30 cents.
At the last closing share price the estimated dividend yield is 6.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.4, implying annual growth of 7.9%.
Current consensus DPS estimate is 16.9, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 15.20 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 5.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 25.3, implying annual growth of 8.1%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.1.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
OCL OBJECTIVE CORPORATION LIMITED
IT & Support – Overnight Price: $12.55
Goldman Sachs rates ((OCL)) as Buy (1) –
Since the investor briefing post the first half results, Goldman Sachs has become more confident in its growth estimates for Objective Corp.
Margins are expected to have bottomed, and operating leverage should flow through as revenue growth accelerates and costs moderate. The broker retains a Buy rating and $14.80 target.
This report was published on February 20, 2023.
Target price is $14.80 Current Price is $12.55 Difference: $2.25
If OCL meets the Goldman Sachs target it will return approximately 18% (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 11.80 cents and EPS of 21.50 cents.
At the last closing share price the estimated dividend yield is 0.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 58.37.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 13.50 cents and EPS of 24.50 cents.
At the last closing share price the estimated dividend yield is 1.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.22.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
OML OOH!MEDIA LIMITED
Out of Home Advertising – Overnight Price: $1.63
Canaccord Genuity rates ((OML)) as Buy (1) –
oOh!media's FY22 full-year result met Canaccord Genuity's forecast, the broker believing the company is going from strength to strength as markets recover.
Management guides to an 8% uptick in the March quarter, observing accelerating momentum.
The broker observes 31.8% of revenue stems from contracts due to expire this year but, given recent de-gearing, the broker believes the company will be able to comfortably lodge competitive bids.
EPs forecasts rise 13% in 2023; and 12% in 2024.
Buy rating and $1.95 target price retained.
This report was published on February 21, 2023.
Target price is $1.95 Current Price is $1.63 Difference: $0.32
If OML meets the Canaccord Genuity target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.80, suggesting upside of 10.3%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Canaccord Genuity forecasts a full year FY23 dividend of 5.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.0, implying annual growth of 70.1%.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 6.00 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 3.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.7, implying annual growth of 18.9%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((OML)) as Buy (1) –
2022 results were largely in line with Goldman Sachs estimates. Commentary on the first quarter of 2023 supports the broker's view that the industry will continue to grow its share of the total advertising market.
Goldman Sachs forecasts 7.8% revenue growth in 2023 for oOh!media. The main downside stemming from the result was a large amount of contract re-tendering on the horizon for 2023, although this is considered manageable given the incumbent position and rational industry.
Buy rating maintained. Target edges up to $1.70 from $1.60.
This report was published on February 20, 2023.
Target price is $1.70 Current Price is $1.63 Difference: $0.07
If OML meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $1.80, suggesting upside of 10.3%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 6.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 3.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.0, implying annual growth of 70.1%.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 18.1.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 7.00 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 4.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.7, implying annual growth of 18.9%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ORA ORORA LIMITED
Paper & Packaging – Overnight Price: $3.42
Jarden rates ((ORA)) as Upgrade to Overweight from Neutral (2) –
Jarden assesses the 1H23 earnings results as stronger than expected for Orora, resulting in both earnings forecast upgrades and a lift in the broker's rating to Overweight from Neutral.
Improved pricing policies and cost control in the North American operations offset a slowdown in manufacturing volumes.
Jarden lifts EPS forecasts by 9% for FY23 and 5% for FY24 with upside potential for the North American division, as well as the potential lifting of Chinese tariffs on Australian wine.
The target is raised to $3.55 from $3.20.
This report was published on March 17, 2023.
Target price is $3.55 Current Price is $3.42 Difference: $0.13
If ORA meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.59, suggesting upside of 5.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 17.50 cents and EPS of 23.30 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.4, implying annual growth of 3.4%.
Current consensus DPS estimate is 17.5, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 15.3.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 18.70 cents and EPS of 23.40 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 14.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.1, implying annual growth of 3.1%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ORR ORECORP LIMITED
Gold & Silver – Overnight Price: $0.41
Bell Potter rates ((ORR)) as Speculative Buy (1) –
Bell Potter explains OreCorp's Nyanzaga Gold project in Tanzania will incur -US$474m in pre-production capital costs.
Expressions of interest from European, African and Tanzanian banks have been received for debt of more than US$400m, exceeding the company's US$300m target.
In other good news, according to the analyst, the company is assessing in-country gold refining that would reduce the royalty rate paid and lower the life-of-mine all-in sustaining costs (AISC).
The target rises to 93c from 84c and the Speculative Buy rating is unchanged.
This report was published on February 20, 2023.
Target price is $0.93 Current Price is $0.41 Difference: $0.52
If ORR 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 minus 3.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.71.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 5.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.04.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PLS PILBARA MINERALS LIMITED
New Battery Elements – Overnight Price: $4.21
Canaccord Genuity rates ((PLS)) as Buy (1) –
Pilbara Minerals has adopted a new commercial model based on lithium hydroxide tolling for its recent spodumene sales.
Canaccord Genuity says this represents a new avenue to market for the company, allowing it to gain more value from its product.
The arrangement allows Pilbara Minerals to beat Canaccord Genuity's forecasts, even using Wuxi futures, and would deliver a spodumene price close to previous spot sales.
Buy rating and $5 price target retained, but the broker advises that if spot prices remain elevated out to June, the company's cash balance would grow sharply, boosting FY23 earnings (EBITDA).
This report was published on February 20, 2023.
Target price is $5.00 Current Price is $4.21 Difference: $0.79
If PLS meets the Canaccord Genuity target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $5.12, suggesting upside of 21.5%(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.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 87.5, implying annual growth of 361.0%.
Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 4.8.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.5, implying annual growth of 1.1%.
Current consensus DPS estimate is 27.2, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 4.8.
Market Sentiment: 0.3
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: $3.14
Wilsons rates ((PPE)) as Overweight (1) –
PeopleIN provided a mixed but better than expected 1H23 earnings report. Wilsons assesses the diversified business streams as a positive for the company.
Acquisitions, alongside Industrial and Specialist offset the less robust result from Professional services. EPS forecasts are raised 11.3% for FY23 and 2.2% for FY24.
The target is lowered to $4.77 from $5.12 and the analyst maintains a Buy rating, viewing the stock as too cheap and already discounting the macro headwinds.
This report was published on March 21, 2023.
Target price is $4.77 Current Price is $3.14 Difference: $1.63
If PPE meets the Wilsons target it will return approximately 52% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 14.40 cents and EPS of 30.40 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 10.33.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 17.00 cents and EPS of 33.80 cents.
At the last closing share price the estimated dividend yield is 5.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.29.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PWH PWR HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $10.20
Bell Potter rates ((PWH)) as Hold (3) –
Lower-than-expected margins for PWR Holdings resulted in a -10% miss against Bell Potter's earnings and profit forecasts for the 1H. Management is responding to increased operating expenses via operating efficiencies and increased selling prices.
While cash flow conversion was good, the analyst notes higher-than-expected capex reduced the cash balance. An 3.6cps interim dividend fell short of the forecast 4.2cps.
Despite modest EPS forecast downgrades resulting from lower margin assumptions, the target rises to $11.00 from $9.50 on higher multiples. Hold.
This report was published on February 20, 2023.
Target price is $11.00 Current Price is $10.20 Difference: $0.8
If PWH meets the Bell Potter target it will return approximately 8% (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 13.00 cents and EPS of 22.60 cents.
At the last closing share price the estimated dividend yield is 1.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 45.13.
Forecast for FY24:
Bell Potter forecasts a full year FY24 dividend of 15.50 cents and EPS of 27.70 cents.
At the last closing share price the estimated dividend yield is 1.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.82.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Moelis rates ((PWH)) as Hold (3) –
After Moelis adjusts for a revenue timing impact, 1H results for PWR Holdings were in line with forecasts.
Management highlighted the near-term potential for a 'material' contract win with an aerospace and defence customer. The broker notes a growing pipeline of opportunities in this space, while OEM customers also continue to grow.
While no guidance was provided, the company pointed to 'extensive organic growth opportunities' available across all market segments.
The target rises to $10.80 from $10.27. Hold.
This report was published on February 20, 2023.
Target price is $10.80 Current Price is $10.20 Difference: $0.6
If PWH meets the Moelis target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 13.10 cents and EPS of 22.70 cents.
At the last closing share price the estimated dividend yield is 1.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 44.93.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 15.20 cents and EPS of 26.50 cents.
At the last closing share price the estimated dividend yield is 1.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.49.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
QBE QBE INSURANCE GROUP LIMITED
Insurance – Overnight Price: $15.24
Goldman Sachs rates ((QBE)) as Buy (1) –
2022 cash earnings were better than expected. Gross written premium growth of 13% was above guidance of 10%. The dividend was also ahead of forecasts. QBE Insurance has indicated it is pricing at, or above, the level of claims inflation and continues to remain very selective about growth.
Goldman Sachs suspects the outlook provided by the company, guiding to a 93.5% COR along with mid to high single digit GWP, is slightly conservative. Buy rating maintained. Target is raised to $17.27 from $16.67.
This report was published on February 19, 2023.
Target price is $17.27 Current Price is $15.24 Difference: $2.03
If QBE meets the Goldman Sachs target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $16.49, suggesting upside of 8.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 79.58 cents and EPS of 144.70 cents.
At the last closing share price the estimated dividend yield is 5.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 145.8, implying annual growth of N/A.
Current consensus DPS estimate is 111.3, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 88.27 cents and EPS of 163.51 cents.
At the last closing share price the estimated dividend yield is 5.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 162.1, implying annual growth of 11.2%.
Current consensus DPS estimate is 114.8, implying a prospective dividend yield of 7.5%.
Current consensus EPS estimate suggests the PER is 9.4.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((QBE)) as Buy (1) –
FY22 adjusted cash profit beat forecasts by Jarden and consensus by 15% and 21%, respectively.
QBE Insurance's ratio of claims, costs and expenses to premiums, also known as the combined operating ratio (COR) was 93.7% in FY22, and Jarden believes this metric will remain resilient into FY23.
Overall, the analyst believes FY22 results showed considerable progress by management in delivering stronger and more consistent earnings, and sees potential for a 30% rise in share price. Shares were trading at $14.39 when the research was penned.
To further support this view, the broker cites strong CAT budget adequacy, increased reserve strength, new reserve reinsurance protections and capital coverage at the top end of the targeted range.
This report was published on February 20, 2023.
Target price is $18.50 Current Price is $15.24 Difference: $3.26
If QBE meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $16.49, suggesting upside of 8.2%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 101.29 cents and EPS of 151.93 cents.
At the last closing share price the estimated dividend yield is 6.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 145.8, implying annual growth of N/A.
Current consensus DPS estimate is 111.3, implying a prospective dividend yield of 7.3%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 112.86 cents and EPS of 170.45 cents.
At the last closing share price the estimated dividend yield is 7.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 162.1, implying annual growth of 11.2%.
Current consensus DPS estimate is 114.8, implying a prospective dividend yield of 7.5%.
Current consensus EPS estimate suggests the PER is 9.4.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RWC RELIANCE WORLDWIDE CORP. LIMITED
Building Products & Services – Overnight Price: $3.59
Goldman Sachs rates ((RWC)) as Buy (1) –
First half operating earnings (EBITDA) were ahead of Goldman Sachs forecasts. No financial guidance was provided in the outlook although the company expects lower second half volumes in the Americas.
Weaker housing starts in Australia are also expected to weigh on volumes in the region and EMEA is likely to be weaker as well. The margin outlook has been reiterated.
Goldman Sachs believes Reliance Worldwide is oversold and retains a Buy rating. Target rises to $4.15 from $4.05.
This report was published on February 20, 2023.
Target price is $4.15 Current Price is $3.59 Difference: $0.56
If RWC meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $3.89, suggesting upside of 8.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 13.02 cents and EPS of 26.05 cents.
At the last closing share price the estimated dividend yield is 3.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.1, implying annual growth of N/A.
Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 13.8.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 14.47 cents and EPS of 27.49 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.5, implying annual growth of 5.4%.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 13.1.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SHL SONIC HEALTHCARE LIMITED
Healthcare services – Overnight Price: $32.04
Jarden rates ((SHL)) as Neutral (3) –
The higher margin covid testing continued to boost the 1H23 results for Sonic Healthcare, with weakness in the European clinical services offset by what appears to be market share gains in the core pathology regions, notes Jarden.
The broker lowers EPS forecasts by -4.3% and -1.5% for FY23 and FY24, respectively.
Accordingly the target is adjusted to $30.78 from $32.02 and the Neutral rating is unchanged.
This report was published on March 20, 2023.
Target price is $30.78 Current Price is $32.04 Difference: minus $1.26 (current price is over target).
If SHL meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $34.56, suggesting upside of 7.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 92.00 cents and EPS of 152.80 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 20.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 152.2, implying annual growth of -50.2%.
Current consensus DPS estimate is 95.5, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.1.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 100.00 cents and EPS of 156.40 cents.
At the last closing share price the estimated dividend yield is 3.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 147.9, implying annual growth of -2.8%.
Current consensus DPS estimate is 104.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 21.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SUL SUPER RETAIL GROUP LIMITED
Automobiles & Components – Overnight Price: $12.98
Jarden rates ((SUL)) as Neutral (3) –
Super Retail's interim earnings report was a stand out beat according to Jarden, lifting earnings 36% and coming in better than expected.
The quality of earnings also improved, including better cash conversion and lower inventory days as well as an upbeat outlook from management.
The resilience of the earnings compared to retail peers is supported by the customer demographic mix and the earnings model, the analyst explains. Forecasts have been amended -1% for FY23 and 3% for FY24.
A Neutral rating is retained, the target is adjusted to $12.50 from $12.35.
This report was published on March 17, 2023.
Target price is $12.50 Current Price is $12.98 Difference: minus $0.48 (current price is over target).
If SUL meets the Jarden target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $13.15, suggesting upside of 1.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 80.00 cents and EPS of 118.40 cents.
At the last closing share price the estimated dividend yield is 6.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 112.4, implying annual growth of 5.2%.
Current consensus DPS estimate is 70.6, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 11.5.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 66.00 cents and EPS of 97.50 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.7, implying annual growth of -17.5%.
Current consensus DPS estimate is 64.6, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.0.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SYM SYMBIO HOLDINGS LIMITED
Telecommunication – Overnight Price: $1.83
Canaccord Genuity rates ((SYM)) as Buy (1) –
Symbio Holdings' December-half result missed Canaccord Genuity's forecasts but the broker found it reassuring none-the-less.
Cash conversion was 125% and is expected to continue to be strong throughout FY23.
The broker expects a strong second-half skew should position the company well for FY24.
The company finished December with net cash of $38m and, including banking facilities, the broker finds Symbio Holdings has ample ($100m) liquidity to address M&A opportunities.
Buy rating and $3.05 target price retained.
This report was published on February 21, 2023.
Target price is $3.05 Current Price is $1.83 Difference: $1.215
If SYM meets the Canaccord Genuity target it will return approximately 66% (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 3.00 cents and EPS of 9.00 cents.
At the last closing share price the estimated dividend yield is 1.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.39.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 6.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.23.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TLX TELIX PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $6.77
Wilsons rates ((TLX)) as Overweight (1) –
With Telix Pharmaceuticals having previously disclosed top line data for its Phase III ZIRCON study, Wilsons view is unchanged following the release of further detail at the recent ASCO GU conference.
The company intends to proceed with market development investments in the current year, seeking FDA and EMA marketing approvals.
The Overweight rating and target price of $8.13 are retained.
This report was published on February 21, 2023.
Target price is $8.13 Current Price is $6.77 Difference: $1.36
If TLX meets the Wilsons target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WBC WESTPAC BANKING CORPORATION
Banks – Overnight Price: $22.07
Goldman Sachs rates ((WBC)) as Buy (1) –
The Pillar 3 update from Westpac suggests to Goldman Sachs that asset quality is running slightly better than expected. The CET1 ratio is broadly consistent.
The broker marginally reduces estimates for earnings per share in FY23 and FY24 by -0.3% and -1.0%, respectively. A Buy rating is reiterated. Target is raised to $27.74 from $27.68.
This report was published on February 17, 2023.
Target price is $27.74 Current Price is $22.07 Difference: $5.67
If WBC meets the Goldman Sachs target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $26.24, suggesting upside of 18.9%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 147.00 cents and EPS of 206.00 cents.
At the last closing share price the estimated dividend yield is 6.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 210.5, implying annual growth of 31.6%.
Current consensus DPS estimate is 138.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 156.00 cents and EPS of 217.00 cents.
At the last closing share price the estimated dividend yield is 7.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.2, implying annual growth of 1.3%.
Current consensus DPS estimate is 146.6, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((WBC)) as Underweight (4) –
A 1Q update by Westpac was broadly in line with Jarden's expectations though the target price eases to $23.80 from $24 on slightly lower margin assumptions, with a partial offset from higher markets income.
Due to intense competition across mortgages and deposits, the broker revises down prior expectations for net interest margin (NIM) upside.
Overall credit quality remains benign, notes Jarden, though there are modest signs of increasing stress in 30-day arrears.
As the analyst considers there is downside risk to earnings and margins, the Underweight rating is unchanged.
This report was published on February 20, 2023.
Target price is $23.80 Current Price is $22.07 Difference: $1.73
If WBC meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $26.24, suggesting upside of 18.9%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 137.00 cents and EPS of 203.00 cents.
At the last closing share price the estimated dividend yield is 6.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.87.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 210.5, implying annual growth of 31.6%.
Current consensus DPS estimate is 138.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 147.00 cents and EPS of 208.80 cents.
At the last closing share price the estimated dividend yield is 6.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 213.2, implying annual growth of 1.3%.
Current consensus DPS estimate is 146.6, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.4.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WSP WHISPIR LIMITED
Cloud services – Overnight Price: $0.38
Shaw and Partners rates ((WSP)) as Buy (1) –
The key takeaway by Shaw and Partners from 1H results was the strategic decision by Whispir to largely withdraw from the US. Existing US customers (more than 100) will continue to be serviced by a small team and revenue is expected to remain flat.
Based on management targets, the broker suggests the company isn't expecting a major impact on profits or growth.
The US will now be profitable, notes the analyst, and the company may now focus on growth opportunities in Asia and its core A&NZ business. Around $4m of incremental savings are expected from the end of Q3.
FY23 revenue guidance is for revenue of between $58-62m, which is -6% lower than Shaw and Partners anticipated. Revenue of $28.8m in the 1H was a year-on-year decline of -27% as vaccine related revenue ended.
The target falls to $1.10 from $1.40 after the broker removes previously anticipated US growth. Buy.
This report was published on February 20, 2023.
Target price is $1.10 Current Price is $0.38 Difference: $0.72
If WSP meets the Shaw and Partners target it will return approximately 189% (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 minus 16.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.25.
Forecast for FY24:
Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 6.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.67.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Wilsons rates ((WSP)) as Downgrade to Market Weight from Overweight (3) –
Whispir's 1H23 results were disappointing with the non-Health division struggling to offset the -5% decline in the annual recurring revenue from the Health division, explains Wilsons.
The analyst highlights concerns around the continued reduction in employees, alongside the slowdown in revenues.
Cumulatively Wilsons' downgrades earnings with a 47% increase in the EPS loss for FY23 and FY24 moving from an expected positive EPS to a loss.
The rating is also downgraded to Market Weight from Overweight and the target lowered to $0.43 from $1.02.
This report was published on March 21, 2023.
Target price is $0.43 Current Price is $0.38 Difference: $0.05
If WSP meets the Wilsons target it will return approximately 13% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY23:
Wilsons forecasts a full year FY23 EPS of minus 12.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.11.
Forecast for FY24:
Wilsons forecasts a full year FY24 EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 27.14.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WTC WISETECH GLOBAL LIMITED
Cloud services – Overnight Price: $61.86
Goldman Sachs rates ((WTC)) as Neutral (3) –
WiseTech Global has acquired Blume Global, an intermodal rail software solutions provider, for -US$414m. The business is expected to generate US$65-70m in FY24 revenue with an EBITDA margin of 10%.
The transaction should be completed in April and will be funded largely by cash and the remainder through new shares.
Goldman Sachs takes no view on the completion of recent acquisitions ahead of the first half result on February 22. Neutral rating and $55 target maintained.
This report was published on February 17, 2023.
Target price is $55.00 Current Price is $61.86 Difference: minus $6.86 (current price is over target).
If WTC meets the Goldman Sachs target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $67.59, suggesting upside of 9.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 EPS of 70.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 88.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 74.0, implying annual growth of 24.0%.
Current consensus DPS estimate is 14.2, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 83.6.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 EPS of 88.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 70.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.0, implying annual growth of 24.3%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 67.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((WTC)) as Overweight (2) –
Management at WiseTech Global expects to generate US$65-70m in FY24 revenue from its largest acquisition-to-date (-US$414m) for the US-based rail software provider Blume Global.
The broker lowers its target to $56 from $59, despite increased earnings forecasts, due to the issuance of shares to the vendors and the increased post-acquisition net debt level.
The Overweight rating is unchanged.
This report was published on February 20, 2023.
Target price is $56.00 Current Price is $61.86 Difference: minus $5.86 (current price is over target).
If WTC meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $67.59, suggesting upside of 9.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 13.30 cents and EPS of 66.70 cents.
At the last closing share price the estimated dividend yield is 0.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 92.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 74.0, implying annual growth of 24.0%.
Current consensus DPS estimate is 14.2, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 83.6.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 19.00 cents and EPS of 94.80 cents.
At the last closing share price the estimated dividend yield is 0.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 65.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.0, implying annual growth of 24.3%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 67.2.
Market Sentiment: 0.3
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 experienced, 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.
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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