Australian Broker Call *Extra* Edition – Apr 12, 2023

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

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

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

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

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

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

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

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

COMPANIES DISCUSSED IN THIS ISSUE

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

AMP   ASX   BOQ   BSX   CAJ (2)   CGF   CRD   GOR   HLS   HUB   IDX (2)   IFL   JHG   LAU   LLL   MFG   ORR   PDI   PPT   PTM   QUB   RRL   SEK   SHL   SPK   SUN  

AMP    AMP LIMITED

Wealth Management & Investments – Overnight Price: $1.12

Jarden rates ((AMP)) as Neutral (3) –

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

AMP's Neutral rating is maintained and the target is raised to $1.15 from $1.10.

This report was published on April 5, 2023.

Target price is $1.15 Current Price is $1.12 Difference: $0.03
If AMP meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.22, suggesting upside of 8.6%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 5.00 cents and EPS of 7.20 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 15.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.7, implying annual growth of N/A.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 16.7.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 6.00 cents and EPS of 8.60 cents.
At the last closing share price the estimated dividend yield is 5.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.5, implying annual growth of 26.9%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 13.2.

Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $69.88

Jarden rates ((ASX)) as Upgrade to Overweight from Neutral (2) –

Amid a third consecutive month of positive futures volume growth, Jarden observes ASX is starting to experience a more consistent futures recovery.

Several indicators suggest futures volumes could rise a further 20% from here and Jarden lifts its FY25 volume forecasts by 13%.

Moreover, with the stock having de-rated -16% over the past year its 24x FY24 estimated PE is now more attractive and the broker upgrades to Overweight from Neutral. Target is raised to $73.25 from $69.00.

This report was published on April 5, 2023.

Target price is $73.25 Current Price is $69.88 Difference: $3.37
If ASX meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $70.05, suggesting downside of -0.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 235.20 cents and EPS of 261.30 cents.
At the last closing share price the estimated dividend yield is 3.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 266.2, implying annual growth of 1.3%.
Current consensus DPS estimate is 240.9, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 26.4.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 249.40 cents and EPS of 277.10 cents.
At the last closing share price the estimated dividend yield is 3.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 277.5, implying annual growth of 4.2%.
Current consensus DPS estimate is 251.1, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 25.4.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

BOQ    BANK OF QUEENSLAND LIMITED

Banks – Overnight Price: $6.52

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

Ahead of the first half results, Goldman Sachs revises FY23 and FY24 estimates down by -9.1% and -9.0%, respectively. This is primarily driven by lower net interest margins because of Bank of Queensland being overweight in housing and rate-sensitive deposits.

Conditions have deteriorated since the FY22 result, with further pressure on mortgages, and deposit spreads are likely to peak in October 2023.

The broker expects the regional lender will be particularly affected by these issues and will focus on how volume growth is managed going forward. Neutral retained. Target is reduced to $7.21 from $7.80.

This report was published on April 5, 2023.

Target price is $7.21 Current Price is $6.52 Difference: $0.69
If BOQ meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $7.17, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in August.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 49.00 cents and EPS of 69.30 cents.
At the last closing share price the estimated dividend yield is 7.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.7, implying annual growth of 17.2%.
Current consensus DPS estimate is 49.4, implying a prospective dividend yield of 7.6%.
Current consensus EPS estimate suggests the PER is 8.4.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 50.00 cents and EPS of 68.70 cents.
At the last closing share price the estimated dividend yield is 7.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 72.1, implying annual growth of -7.2%.
Current consensus DPS estimate is 49.4, implying a prospective dividend yield of 7.6%.
Current consensus EPS estimate suggests the PER is 9.0.

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

BSX    BLACKSTONE MINERALS LIMITED

New Battery Elements – Overnight Price: $0.17

Canaccord Genuity rates ((BSX)) as Speculative Buy (1) –

Canaccord Genuity updates its model for Blackstone Minerals to reflect what is envisaged to be a conservative delivery schedule. The company will need to find a partner to develop the downstream asset at the Ta Khoa nickel project in Vietnam.

Beyond this, the company is uniquely positioned to continue exploring in Vietnam for further nickel and, given the current resource and geological potential, the broker believes this could unlock further value.

Speculative Buy rating maintained. Target is reduced to $0.45 from $0.80.

This report was published on April 6, 2023.

Target price is $0.45 Current Price is $0.17 Difference: $0.28
If BSX meets the Canaccord Genuity target it will return approximately 165% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.40.

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 8.50.

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: $0.28

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

Canaccord Genuity notes Capitol Health has progressed its turnaround. The invigorated strategy has meant recent acquisitions have been based on building quality and clinical areas of expertise, including women's health and sports medicine.

The balance sheet is also healthy and the broker likes the growth opportunity associated with the business, while noting it represents an attractive acquisition target. Buy rating reiterated. Target is $0.33.

This report was published on April 5, 2023.

Target price is $0.33 Current Price is $0.28 Difference: $0.055
If CAJ meets the Canaccord Genuity target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $0.35, suggesting upside of 30.9%(ex-dividends)

Forecast for FY23:

Current consensus EPS estimate is 1.0, implying annual growth of -3.8%.
Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 27.0.

Forecast for FY24:

Current consensus EPS estimate is 1.5, implying annual growth of 50.0%.
Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 18.0.

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

Jarden rates ((CAJ)) as Neutral (3) –

The Australian government's change to the Medicare Benefits Schedule indexation is 3.6%, effective July 1 2023. The rate does not include any catch up for the lower indexation that occurred versus inflation last year.

Jarden upwardly adjusts FY24 and FY25 forecasts by 7.7% and 7.0%, respectively. Neutral maintained. Target is $0.30.

This report was published on April 6, 2023.

Target price is $0.30 Current Price is $0.28 Difference: $0.025
If CAJ meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $0.35, suggesting upside of 30.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 1.00 cents and EPS of 1.05 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.0, implying annual growth of -3.8%.
Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 27.0.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 1.00 cents and EPS of 1.60 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.19.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.5, implying annual growth of 50.0%.
Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 18.0.

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

CGF    CHALLENGER LIMITED

Wealth Management & Investments – Overnight Price: $6.27

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

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Challenger's Overweight rating is retained and the target is reduced to $7.45 from $7.65.

This report was published on April 5, 2023.

Target price is $7.45 Current Price is $6.27 Difference: $1.18
If CGF meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $7.57, suggesting upside of 21.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 24.40 cents and EPS of 46.20 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 44.7, implying annual growth of 19.1%.
Current consensus DPS estimate is 25.2, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.9.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 28.50 cents and EPS of 54.90 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 54.5, implying annual growth of 21.9%.
Current consensus DPS estimate is 29.1, implying a prospective dividend yield of 4.7%.
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

CRD    CONRAD ASIA ENERGY LIMITED

Business & Consumer Credit – Overnight Price: $1.73

Canaccord Genuity rates ((CRD)) as Speculative Buy (1) –

Energy demand growth in Asia is likely to continue and Canaccord Genuity believes an uncertain investment outlook in Australia could mean capital is increasingly allocated elsewhere.

The broker believes Australia's loss could well be Indonesia's gain and Conrad Asia Energy is well-placed to benefit. The company was recently awarded two joint study areas in offshore Sumatra.

The broker believes the Mako gas discovery provides an opportunity and the next major catalyst is conclusion of the gas sales contract and any sell-down by Conrad Asia. Speculative Buy rating and $2.60 target maintained.

This report was published on April 4, 2023.

Target price is $2.60 Current Price is $1.73 Difference: $0.87
If CRD meets the Canaccord Genuity target it will return approximately 50% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 4.98 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 34.75.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 9.67 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 17.90.

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

GOR    GOLD ROAD RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.76

Canaccord Genuity rates ((GOR)) as Downgrade to Hold from Buy (3) –

Gold Road Resources has updated its three-year outlook for Gruyere, with a production range of 335-375,000ounces per annum over 2023-25. Grades are expected to lift to around 1.3g/t in to 2023.

The company's hedge book has been closed out and it is now fully exposed to spot prices. Canaccord Genuity downgrades to Hold from Buy and reduces the target to $1.95 from $2.05.

This report was published on April 6, 2023.

Target price is $1.95 Current Price is $1.76 Difference: $0.19
If GOR meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $1.89, suggesting upside of 4.9%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 2.00 cents and EPS of 9.00 cents.
At the last closing share price the estimated dividend yield is 1.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.3, implying annual growth of 74.1%.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 15.9.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 4.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 2.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.8, implying annual growth of -4.4%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HLS    HEALIUS LIMITED

Healthcare services – Overnight Price: $3.24

Jarden rates ((HLS)) as Underweight (4) –

The Australian government's change to the Medicare Benefits Schedule indexation is 3.6%, effective July 1 2023. The rate does not include any catch up for the lower indexation that occurred versus inflation last year.

Jarden upwardly adjusts FY24 and FY25 forecasts for Healius by 3.7% and 2.5%, respectively. No indexation is processed for pathology. Underweight retained. Target is $2.71.

This report was published on April 6, 2023.

Target price is $2.71 Current Price is $3.24 Difference: minus $0.53 (current price is over target).
If HLS meets the Jarden target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.23, suggesting downside of -1.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 3.50 cents and EPS of 6.30 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 51.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.8, implying annual growth of -88.4%.
Current consensus DPS estimate is 1.7, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 56.4.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 5.30 cents and EPS of 11.50 cents.
At the last closing share price the estimated dividend yield is 1.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.8, implying annual growth of 137.9%.
Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.7.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $26.80

Jarden rates ((HUB)) as Neutral (3) –

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Hub24's Neutral rating is maintained and the target is reduced to $27.40 from $27.60.

This report was published on April 5, 2023.

Target price is $27.40 Current Price is $26.80 Difference: $0.6
If HUB meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $33.13, suggesting upside of 22.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 31.10 cents and EPS of 66.50 cents.
At the last closing share price the estimated dividend yield is 1.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 40.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 67.4, implying annual growth of 234.0%.
Current consensus DPS estimate is 29.3, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 40.1.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 36.40 cents and EPS of 80.20 cents.
At the last closing share price the estimated dividend yield is 1.36%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 84.7, implying annual growth of 25.7%.
Current consensus DPS estimate is 36.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 31.9.

Market Sentiment: 0.8
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: $3.10

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

Canaccord Genuity observes Integral Diagnostics is a high-quality operator yet notes the next 12 months could be lumpy, as it works through higher-than-anticipated employee expenses and loses its competitive mode with MRI deregulation.

The broker likes the longer-term growth opportunity for the company yet highlights the importance of cost control in the sector, Buy rating reiterated. Target is $2.95.

This report was published on April 5, 2023.

Target price is $2.95 Current Price is $3.10 Difference: minus $0.15 (current price is over target).
If IDX meets the Canaccord Genuity target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.00, suggesting downside of -5.1%(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 2.06%.
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 8.2, implying annual growth of 17.5%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.5.

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 3.10%.
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 12.6, implying annual growth of 53.7%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 25.1.

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

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

The Australian government's change to the Medicare Benefits Schedule indexation is 3.6%, effective July 1 2023. The rate does not include any catch up for the lower indexation that occurred versus inflation last year.

Jarden upwardly adjusts FY24 and FY25 forecasts by 6.7% and 5.9%, respectively. Target is raised to $3.13 from $3.04. Overweight maintained.

This report was published on April 6, 2023.

Target price is $3.13 Current Price is $3.10 Difference: $0.03
If IDX meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $3.00, suggesting downside of -5.1%(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 1.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 40.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.2, implying annual growth of 17.5%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.5.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 6.80 cents and EPS of 14.80 cents.
At the last closing share price the estimated dividend yield is 2.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.6, implying annual growth of 53.7%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 25.1.

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

IFL    INSIGNIA FINANCIAL LIMITED

Wealth Management & Investments – Overnight Price: $2.79

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

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Insignia Financial's Overweight rating is maintained and the target is steady at $3.60.

This report was published on April 5, 2023.

Target price is $3.60 Current Price is $2.79 Difference: $0.81
If IFL meets the Jarden target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $3.80, suggesting upside of 36.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 19.70 cents and EPS of 28.40 cents.
At the last closing share price the estimated dividend yield is 7.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.3, implying annual growth of 417.7%.
Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 9.5.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 21.90 cents and EPS of 31.30 cents.
At the last closing share price the estimated dividend yield is 7.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.8, implying annual growth of 8.5%.
Current consensus DPS estimate is 23.3, implying a prospective dividend yield of 8.4%.
Current consensus EPS estimate suggests the PER is 8.8.

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

JHG    JANUS HENDERSON GROUP PLC

Wealth Management & Investments – Overnight Price: $39.63

Jarden rates ((JHG)) as Underweight (4) –

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Janus Henderson's Underweight rating is maintained. Target is raised to $30.40 from $29.40.

This report was published on April 5, 2023.

Target price is $30.40 Current Price is $39.63 Difference: minus $9.23 (current price is over target).
If JHG meets the Jarden target it will return approximately minus 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $37.78, suggesting downside of -5.7%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 228.44 cents and EPS of 273.10 cents.
At the last closing share price the estimated dividend yield is 5.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 349.1, implying annual growth of N/A.
Current consensus DPS estimate is 297.2, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 11.5.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 234.30 cents and EPS of 288.92 cents.
At the last closing share price the estimated dividend yield is 5.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 356.8, implying annual growth of 2.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 11.2.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

LAU    LINDSAY AUSTRALIA LIMITED

Transportation & Logistics – Overnight Price: $1.08

Wilsons rates ((LAU)) as Initiation of coverage with Overweight (1) –

Wilsons initiates coverage of Lindsay Australia with an Overweight rating and $1.35 target. The integrated transport and rural supply company has delivered steady growth in earnings for more than 10 years and is positioned for a step change in profitability, the  broker suggests.

Wilsons envisages upside risk to FY23 earnings guidance of $68-71m with the prospect the business will achieve its 3-5 year target of $100m in EBITDA ahead of schedule.

This report was published on April 6, 2023.

Target price is $1.35 Current Price is $1.08 Difference: $0.265
If LAU meets the Wilsons target it will return approximately 24% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 3.30 cents and EPS of 8.50 cents.
At the last closing share price the estimated dividend yield is 3.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.76.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 5.50 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 5.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.86.

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

LLL    LEO LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.48

Jarden rates ((LLL)) as Buy (1) –

Lithium prices continue to ease at the sector is now facing the impact on consensus earnings forecasts for producers, Jarden points out, whilst trying to rationalise those assets that have corporate appeal.

The relative strategic appeal of Leo Lithium is reinforced by the stage 2 expansion to 4mtpa, which is not contracted, and the fact Firefinch ((FFX)), currently in administration, remains a 17.6% shareholder.

Firefinch has recently indicated there are a number of sufficiently robust indicative proposals to warrant advancing to negotiations for a potential sale of the business and assets.

The broker retains a Buy rating and the target edges down to $1.20 from $1.21.

This report was published on April 6, 2023.

Target price is $1.20 Current Price is $0.48 Difference: $0.715
If LLL meets the Jarden target it will return approximately 147% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 80.83.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 60.63.

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: $8.04

Jarden rates ((MFG)) as Underweight (4) –

Magellan Financial's net outflows of -$3.9bn were larger than Jarden expected for March. Institutional outflows accelerated, reflecting mandate losses within Australian equities.

Retail outflows were in line with the broker's estimates and showed no improvement, relative to FUM, compared with peak levels in March 2022. Amid continued underperformance, the broker retains an Underweight rating and reduces the target to $8.10 from $8.60.

This report was published on April 5, 2023.

Target price is $8.10 Current Price is $8.04 Difference: $0.06
If MFG meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $9.54, suggesting upside of 20.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 81.60 cents and EPS of 92.20 cents.
At the last closing share price the estimated dividend yield is 10.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 96.3, implying annual growth of -53.5%.
Current consensus DPS estimate is 79.8, implying a prospective dividend yield of 10.1%.
Current consensus EPS estimate suggests the PER is 8.2.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 56.10 cents and EPS of 84.40 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 9.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 76.6, implying annual growth of -20.5%.
Current consensus DPS estimate is 57.4, implying a prospective dividend yield of 7.2%.
Current consensus EPS estimate suggests the PER is 10.4.

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

ORR    ORECORP LIMITED

Gold & Silver – Overnight Price: $0.44

Canaccord Genuity rates ((ORR)) as Speculative Buy (1) –

OreCorp is finalising its Nyanzaga project finance in Tanzania and Canaccord Genuity compares this project to the West African Resources ((WAF)) Sanbrado project, which could illustrate a pathway for Nyanzaga.

The broker opines both are in similar operating jurisdictions with arguably similar risks. OreCorp has received non-binding expressions of interest for metal streaming/royalty financing and up to US$400m in debt funding. Speculative Buy rating reiterated. Target is $1.05.

This report was published on April 5, 2023.

Target price is $1.05 Current Price is $0.44 Difference: $0.61
If ORR meets the Canaccord Genuity target it will return approximately 139% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.00.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.67.

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

PDI    PREDICTIVE DISCOVERY LIMITED

Gold & Silver – Overnight Price: $0.18

Canaccord Genuity rates ((PDI)) as Speculative Buy (1) –

Predictive Discovery has commenced RC drilling at the prospect located just north-west of the main NEB resource at Bankan gold project in Guinea. Canaccord Genuity believes the business is entering an exciting period of exploration, while de-risking the Bankan resource through infill.

New RC results are expected to flow over coming months, as well as further infill results from NEB. Project permitting is expected in 2024. Speculative Buy rating and $0.37 target maintained.

This report was published on April 11, 2023.

Target price is $0.37 Current Price is $0.18 Difference: $0.19
If PDI meets the Canaccord Genuity target it will return approximately 106% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

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

PPT    PERPETUAL LIMITED

Wealth Management & Investments – Overnight Price: $23.48

Jarden rates ((PPT)) as Neutral (3) –

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Perpetual's Overweight rating is maintained. Target is raised to $28.70 from $27.00.

This report was published on April 5, 2023.

Target price is $28.70 Current Price is $23.48 Difference: $5.22
If PPT meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $30.25, 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 173.80 cents and EPS of 217.10 cents.
At the last closing share price the estimated dividend yield is 7.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 210.9, implying annual growth of 17.4%.
Current consensus DPS estimate is 166.8, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 11.1.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 207.10 cents and EPS of 237.80 cents.
At the last closing share price the estimated dividend yield is 8.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 215.8, implying annual growth of 2.3%.
Current consensus DPS estimate is 166.4, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 10.9.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PTM    PLATINUM ASSET MANAGEMENT LIMITED

Wealth Management & Investments – Overnight Price: $1.76

Jarden rates ((PTM)) as Underweight (4) –

Jarden updates forecasts, marking to market across the stocks in its wealth management coverage for the March quarter. Revisions are mainly positive, reflecting stronger equity and bond markets.

Platinum Asset Management's Underweight rating is maintained. Target is reduced to $1.55 from $1.60.

This report was published on April 5, 2023.

Target price is $1.55 Current Price is $1.76 Difference: minus $0.21 (current price is over target).
If PTM meets the Jarden target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting upside of 7.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 13.50 cents and EPS of 13.90 cents.
At the last closing share price the estimated dividend yield is 7.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.3, implying annual growth of -12.8%.
Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 9.0%.
Current consensus EPS estimate suggests the PER is 11.1.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 11.40 cents and EPS of 13.20 cents.
At the last closing share price the estimated dividend yield is 6.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.9, implying annual growth of -9.2%.
Current consensus DPS estimate is 14.1, implying a prospective dividend yield of 8.3%.
Current consensus EPS estimate suggests the PER is 12.2.

Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

QUB    QUBE HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $2.96

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

Jarden notes investors are increasingly questioning how long the strength in Qube Holdings agricultural earnings can last and the impact this will have on earnings and valuation.

The broker's analysis signals there could be up to two years remaining for agricultural strength but this is contingent on several factors that are beyond the company's control.

From FY25 the broker adjusts its grain "over-earn" within its earnings base for the operating division, resulting in cuts to estimates for earnings per share in the outer year of -2%. Overweight rating maintained. Target is reduced to $3.30 from $3.35.

This report was published on April 4, 2023.

Target price is $3.30 Current Price is $2.96 Difference: $0.34
If QUB meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $3.40, suggesting upside of 14.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 10.20 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.8, implying annual growth of 94.2%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 23.2.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 11.80 cents and EPS of 13.30 cents.
At the last closing share price the estimated dividend yield is 3.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.4, implying annual growth of 4.7%.
Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 22.2.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $2.20

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

Regis Resources' McPhillamys gold project has received final approval, with Canaccord Genuity noting this marks the end of a formal process that has taken more than five years. The broker expects the market to now recognise the value in the asset.

The company will undertake a final feasibility study later in 2023. The broker revises some of its life-of-mine assumptions and modelling and also relaxes the risking on the project. Buy rating maintained. Target rises to $2.50 from $2.45.

This report was published on April 5, 2023.

Target price is $2.50 Current Price is $2.20 Difference: $0.3
If RRL meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.40, suggesting upside of 6.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 2.00 cents and EPS of 3.00 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 73.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.7, implying annual growth of 268.1%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 33.7.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 2.00 cents and EPS of 8.00 cents.
At the last closing share price the estimated dividend yield is 0.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.2, implying annual growth of 201.5%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 11.2.

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

SEK    SEEK LIMITED

Jobs & Skilled Labour Services – Overnight Price: $25.03

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

Post the investor briefing, Jarden adjusts FY23 earnings with a -1.6% downgrade to revenue estimates. Yet, Seek reiterated EBITDA guidance of $560m and net profit of $250m and these are unchanged in forecasts.

The main risk the broker envisages is a jobs recession that challenges the outlook. Besides this, the company should navigate any headwinds with cost management.

Overweight retained on the back of strength in Asia and longer-term growth fund returns. Target is $29.60.

This report was published on April 5, 2023.

Target price is $29.60 Current Price is $25.03 Difference: $4.57
If SEK meets the Jarden target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $28.28, suggesting upside of 13.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 47.70 cents and EPS of 70.70 cents.
At the last closing share price the estimated dividend yield is 1.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.6, implying annual growth of 50.1%.
Current consensus DPS estimate is 45.7, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 34.9.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 48.10 cents and EPS of 76.90 cents.
At the last closing share price the estimated dividend yield is 1.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 76.1, implying annual growth of 6.3%.
Current consensus DPS estimate is 50.1, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 32.9.

Market Sentiment: 0.8
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: $36.34

Jarden rates ((SHL)) as Neutral (3) –

The Australian government's change to the Medicare Benefits Schedule indexation is 3.6%, effective July 1 2023. The rate does not include any catch up for the lower indexation that occurred versus inflation last year.

Jarden upwardly adjusts FY24 and FY25 forecasts for Sonic Healthcare by 0.6% and 5.5%, respectively. No indexation has been process for pathology. Neutral maintained. Target is $31.54.

This report was published on April 6, 2023.

Target price is $31.54 Current Price is $36.34 Difference: minus $4.8 (current price is over target).
If SHL meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $33.70, suggesting downside of -7.8%(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 2.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 152.4, implying annual growth of -50.1%.
Current consensus DPS estimate is 95.5, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 24.0.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 100.00 cents and EPS of 157.70 cents.
At the last closing share price the estimated dividend yield is 2.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 148.9, implying annual growth of -2.3%.
Current consensus DPS estimate is 104.8, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 24.5.

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

SPK    SPARK NEW ZEALAND LIMITED

Telecommunication – Overnight Price: $4.74

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

Jarden observes Spark New Zealand is set to deliver on its objectives for the three years to FY23. While the company has executed well in mobile, retaining a leadership position, industry structure and regulatory issues remain critical to supporting overall results.

The broker looks for similar outcomes in FY24-26 with some tailwinds stemming from a period of elevated investment. Overweight maintained. Target is reduced to NZ$5.11 from NZ$5.15.

This report was published on April 5, 2023.

Current Price is $4.74. Target price not assessed.
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 24.61 cents and EPS of 21.88 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.67.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 24.61 cents and EPS of 23.97 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.77.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SUN    SUNCORP GROUP LIMITED

Insurance – Overnight Price: $12.47

Jarden rates ((SUN)) as Buy (1) –

A statement of preliminary views from the ACCC in response to the ANZ Bank ((ANZ)) proposal to acquire Suncorp Group's bank suggests there are greater-than-anticipated completion risks.

Still, the regulator has called for additional information to assess potential competition impacts. Whilst assuming a deal proceeds, Jarden notes the status quo valuation impacts are minimal. Buy rating and $13.35 target maintained.

This report was published on April 4, 2023.

Target price is $13.35 Current Price is $12.47 Difference: $0.88
If SUN meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $14.59, suggesting upside of 16.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 86.00 cents and EPS of 101.30 cents.
At the last closing share price the estimated dividend yield is 6.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 100.9, implying annual growth of 87.5%.
Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 12.4.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 90.00 cents and EPS of 91.10 cents.
At the last closing share price the estimated dividend yield is 7.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 103.0, implying annual growth of 2.1%.
Current consensus DPS estimate is 81.0, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 12.1.

Market Sentiment: 0.8
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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