Australian Broker Call *Extra* Edition – Jul 19, 2023

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

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)

CSL (2)   DDR   DTL   EDV   EVN   KMD   MAQ   NWL   RMD   SPK   VGL   WHC   WSP   WTC  

CSL    CSL LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $264.57

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

Argenx has reported positive data from its Adhere study, evaluating Vyvgart for safety and efficacy in treating CIDP.

This is the indication responsible for 25-35% of immunoglobulin demand, Goldman Sachs notes, and constitutes 37% of CSL's FY23 forecast revenue as well as 56% of growth out to FY26.

The broker retains a Neutral rating and $295 target for CSL.

This report was published on July 17, 2023.

Target price is $295.00 Current Price is $264.57 Difference: $30.43
If CSL meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $328.17, suggesting upside of 24.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 355.34 cents and EPS of 727.03 cents.
At the last closing share price the estimated dividend yield is 1.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 776.7, implying annual growth of N/A.
Current consensus DPS estimate is 348.4, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 34.1.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 472.79 cents and EPS of 893.55 cents.
At the last closing share price the estimated dividend yield is 1.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 925.2, implying annual growth of 19.1%.
Current consensus DPS estimate is 402.8, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 28.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

---

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

Wilsons was surprised by the success with the Argenx Adhere study in CIDP, which sets a potential new competition for CSL's Hizentra. Commercial implications are difficult to assess, the broker adds.

The broker makes earning changes to reflect the company's previous trading update and retains an Overweight rating with the target reduced to $343.72 from $345.00.

This report was published on July 18, 2023.

Target price is $343.72 Current Price is $264.57 Difference: $79.15
If CSL meets the Wilsons target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $328.17, suggesting upside of 24.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 347.90 cents and EPS of 793.64 cents.
At the last closing share price the estimated dividend yield is 1.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 776.7, implying annual growth of N/A.
Current consensus DPS estimate is 348.4, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 34.1.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 416.30 cents and EPS of 952.13 cents.
At the last closing share price the estimated dividend yield is 1.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 925.2, implying annual growth of 19.1%.
Current consensus DPS estimate is 402.8, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 28.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

DDR    DICKER DATA LIMITED

Hardware & Equipment – Overnight Price: $7.96

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

Goldman Sachs refreshes its view on IT stocks, noting demand remains generally robust across the industry, in turn supported by digital transformation expenditure from large and medium enterprises as well as government clients.

Goldman Sachs is looking for two inflection points before becoming more constructive on Dicker Data. These include confidence that PC sales are bottoming while a clearer picture emerges of underlying demand, as well as margin improvement following a period of elevated working capital.

The broker retains a Neutral rating and reduces the target to $9.35 from $9.50.

This report was published on July 16, 2023.

Target price is $9.35 Current Price is $7.96 Difference: $1.39
If DDR meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 43.10 cents and EPS of 44.30 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 17.97.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 47.60 cents and EPS of 48.90 cents.
At the last closing share price the estimated dividend yield is 5.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.28.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

DTL    DATA#3 LIMITED.

IT & Support – Overnight Price: $7.33

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

Goldman Sachs refreshes its view on IT stocks, noting demand remains generally robust across the industry, in turn supported by digital transformation expenditure from large and medium enterprises as well as government clients.

Data#3 is considered attractive, being a leading beneficiary of the increased IT expenditure in Australia. As a relatively high-margin backlog converts over 2023 and services revenue growth outpaces software, the broker believes gross profit margins can grow, possibly boosted by managed services becoming a greater proportion of the mix.

Buy rating and $9.20 target unchanged.

This report was published on July 16, 2023.

Target price is $9.20 Current Price is $7.33 Difference: $1.87
If DTL meets the Goldman Sachs target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 24.70 cents and EPS of 27.00 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 27.15.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 28.60 cents and EPS of 31.30 cents.
At the last closing share price the estimated dividend yield is 3.90%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.42.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EDV    ENDEAVOUR GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $5.69

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

Victoria's government has announced key changes to regulations around electronic gaming machines. All machines in Victoria will require mandatory pre-commitment levels and load up will be capped at $100. Opening hours will also be reduced.

Goldman Sachs estimates that around 38% of Endeavour Group's machines and 30-35% of its gambling revenue come from Victoria, which in turn implies 2.3-2.7% of FY24 group revenue estimates.

The broker finds exact impact of the changes difficult to calculate while noting, at this point in time, the company does not expect a material impact on earnings. Buy rating maintained. Target is steady at $7.50.

This report was published on July 17, 2023.

Target price is $7.50 Current Price is $5.69 Difference: $1.81
If EDV meets the Goldman Sachs target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $6.20, suggesting upside of 9.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 22.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 3.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.0, implying annual growth of 8.5%.
Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 19.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 24.00 cents and EPS of 32.00 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 17.78.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.3, implying annual growth of 4.3%.
Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 18.2.

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

EVN    EVOLUTION MINING LIMITED

Gold & Silver – Overnight Price: $3.80

Jarden rates ((EVN)) as Neutral (3) –

Ahead of the Evolution Mining quarterly update on July 20, Jarden will be looking for whether Ernest Henry has ultimately recovered from the flooding event and whether Red Lake continues to make gains.

The broker expects no departure from the medium-term outlook along with an affirmation of FY24 guidance. The main area of variation could be whether stamp duty payments fell within the quarter.

Neutral maintained. Target is raised to $3.18 from $3.12.

This report was published on July 13, 2023.

Target price is $3.18 Current Price is $3.80 Difference: minus $0.62 (current price is over target).
If EVN 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 $3.34, suggesting downside of -12.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 EPS of 16.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.9, implying annual growth of -21.6%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 27.3.

Forecast for FY24:

Jarden forecasts a full year FY24 EPS of 25.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.5, implying annual growth of 97.8%.
Current consensus DPS estimate is 7.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 13.8.

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

KMD    KMD BRANDS LIMITED

Sports & Recreation – Overnight Price: $0.89

Jarden rates ((KMD)) as Buy (1) –

KMD Brands provided a weak trading update for the winter season, something Jarden considers was not unexpected. The weakness was predominantly due to a slowdown in Australian  Kathmandu brand sales, consistent with the broader slowdown in retail activity.

Updated guidance implies second half sales of around NZ$550m, down -3.6%. Meanwhile, the gross margin appears resilient as sector discounting has been relatively subdued.

Jarden reiterates a Buy rating, believing consumer pressures are likely to peak over the next six months and this will create attractive entry points across the sector. Target is lowered to NZ$1.25 from NZ$1.35.

This report was published on July 12, 2023.

Current Price is $0.89. Target price not assessed.
Current consensus price target is $0.90, suggesting upside of 1.7%(ex-dividends)
The company's fiscal year ends in July.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 4.58 cents and EPS of 5.78 cents.
At the last closing share price the estimated dividend yield is 5.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.2, implying annual growth of N/A.
Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 14.3.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 5.50 cents and EPS of 7.70 cents.
At the last closing share price the estimated dividend yield is 6.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.0, implying annual growth of 12.9%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 12.6.

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

MAQ    MACQUARIE TECHNOLOGY GROUP LIMITED

Telecommunication – Overnight Price: $66.94

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

Goldman Sachs refreshes its view on IT stocks, noting demand remains generally robust across the industry, in turn supported by digital transformation expenditure from large and medium enterprises as well as government clients.

Macquarie Technology has guided to reinvestment in its cloud services and government segment in the second half of FY23 which may ease margin expansion for the short term, although the broker expects price increases across more than 90% of its recurring revenue base will help offset the inflationary impact.

Buy rating maintained. Target is steady at $77.20.

This report was published on July 16, 2023.

Target price is $77.20 Current Price is $66.94 Difference: $10.26
If MAQ meets the Goldman Sachs target it will return approximately 15% (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 0.00 cents and EPS of 83.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 79.79.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 118.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.49.

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

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $14.26

Jarden rates ((NWL)) as Neutral (3) –

Netwealth Group's custodial net flows of $3.1bn in the fourth quarter were broadly in line with Jarden's expectations, considered a "robust" outcome given the challenging flow backdrop.

While funds under administration in FY23 were in line with expectations, the gradually increasing institutional and lower cash account mix could weigh on platform revenue margins, in the broker's view.

With elevated interest rates and continued economic uncertainty, Netwealth Group's Neutral rating is maintained. Target is reduced to $13.85 from $14.05.

This report was published on July 13, 2023.

Target price is $13.85 Current Price is $14.26 Difference: minus $0.41 (current price is over target).
If NWL meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.01, suggesting upside of 5.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 23.80 cents and EPS of 27.50 cents.
At the last closing share price the estimated dividend yield is 1.67%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.8, implying annual growth of 22.0%.
Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 51.3.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 30.90 cents and EPS of 36.30 cents.
At the last closing share price the estimated dividend yield is 2.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.1, implying annual growth of 29.9%.
Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 39.5.

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

RMD    RESMED INC

Medical Equipment & Devices – Overnight Price: $32.53

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

Ahead of the fourth quarter results, due August 4, Jarden notes significant momentum in device sales as ResMed takes further share.

The broker expects strength in the top line will be complemented by an improvement in fourth-quarter margins as the impact of moderating freight and component costs as well as manufacturing efficiencies is felt.

An Overweight rating is retained and the target is raised to $38.57 from $38.46.

This report was published on July 13, 2023.

Target price is $38.57 Current Price is $32.53 Difference: $6.04
If RMD meets the Jarden target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $38.00, suggesting upside of 16.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 26.17 cents and EPS of 97.53 cents.
At the last closing share price the estimated dividend yield is 0.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 95.9, implying annual growth of N/A.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 33.9.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 28.55 cents and EPS of 117.01 cents.
At the last closing share price the estimated dividend yield is 0.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 113.4, implying annual growth of 18.2%.
Current consensus DPS estimate is 28.1, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 28.7.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
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: $4.67

Goldman Sachs rates ((SPK)) as Sell (5) –

Goldman Sachs highlights recent breakthroughs in the cost and frequency of space access, alongside computing power, have rapidly expanded the opportunities of low earth orbit (LEO) satellites to provide telecom services.

The broker looks at potential risks/opportunities for the telecom sector and sees likely disruption for Telstra's ((TLS)) mobile segment, because of its significant pricing premium and outsized share of the mobile market (particularly in regional locations).

In New Zealand there should be less impact on earnings given the similarities in network coverage of the mobile network operators. The broker remains Sell-rated on Spark New Zealand and retains its NZ$4.90 target price.

This report was published on July 14, 2023.

Current Price is $4.67. Target price not assessed.
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 24.76 cents and EPS of 21.82 cents.
At the last closing share price the estimated dividend yield is 5.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.40.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 24.76 cents and EPS of 23.01 cents.
At the last closing share price the estimated dividend yield is 5.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.29.

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

VGL    VISTA GROUP INTERNATIONAL LIMITED

Software & Services – Overnight Price: $1.70

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

Vista International is targeting a more than doubling of its revenue base and Jarden suspects its targets may prove conservative. Once customers are on the cloud, the company expects to generate 3-5x prior on-premises maintenance fees, or NZ$270m in platform income.

On its estimates, Jarden also highlights that targets imply critical software as making up only 1.5% of exhibitors' operating cost base, while initial market feedback is supportive of product demand and contract terms.

Overweight rating reiterated as the broker remains attracted to the company's dominant market position. Target price is raised to NZ$2.00 from NZ$1.90.

This report was published on July 11, 2023.

Current Price is $1.70. Target price not assessed.
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 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 94.44.

Forecast for FY24:

Jarden 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 1700.00.

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

WHC    WHITEHAVEN COAL LIMITED

Coal – Overnight Price: $6.81

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

Fourth quarter production was slightly weaker than Goldman Sachs expected, largely because of challenges at the Narrabri underground mine, which was offset by a draw down of ROM stocks and a stronger quarter from Maules Creek.

Whitehaven Coal has indicated that Narrabri is operating at a run rate of 7-8mtpa in July thus far, with the next longwall change not expected until FY25.

Goldman Sachs adjusts for the NSW coal reservation policy and the shift in the longwall move, revising EPS up by 1-4% for FY23-25.

Neutral rating retained and the target is raised to $8.00 from $7.80.

This report was published on July 17, 2023.

Target price is $8.00 Current Price is $6.81 Difference: $1.19
If WHC meets the Goldman Sachs target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $7.74, suggesting upside of 13.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 61.00 cents and EPS of 292.00 cents.
At the last closing share price the estimated dividend yield is 8.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 300.0, implying annual growth of 51.8%.
Current consensus DPS estimate is 51.9, implying a prospective dividend yield of 7.6%.
Current consensus EPS estimate suggests the PER is 2.3.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 34.00 cents and EPS of 122.00 cents.
At the last closing share price the estimated dividend yield is 4.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.5, implying annual growth of -63.2%.
Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 6.2.

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

WSP    WHISPIR LIMITED

Cloud services – Overnight Price: $0.31

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

Whispir has announced it is on track to meet its $53-54.5m revenue guidance. Timing issues affected cash receipts in the June quarter, which fell -3% quarter on quarter.

Wilsons notes cash burn has improved dramatically since the first quarter of FY23 with the company now in position to capitalise on a more streamlined cost base.

The company has signed a new contract via one of its channel partners to deliver electronic prescription messaging as part of Australia's national digital health strategy. Several new blue-chip customers have also been signed up in Asia.

Wilsons puts its Market Weight rating and $0.35 target under review, as well as earnings estimates.

This report was published on July 17, 2023.

Target price is $0.35 Current Price is $0.31 Difference: $0.04
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 dividend of 0.00 cents and EPS of minus 12.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.52.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.32.

Market Sentiment: 1.0
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: $80.90

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

Jarden now factors in the upside from WiseTech Global's contract wins and pricing power. The outlook is not as weak as initially expected and minimum volume contracts should help shield the company from freight volatility.

The broker lifts forecasts for its terminal year by 40%, driving a higher valuation. Target is raised to $84 from $60 and, as there is not enough upside in this for a Buy rating, an Overweight rating is reiterated.

Catalysts envisaged over the short term are likely to be positive and should help continue the share price momentum.

This report was published on July 13, 2023.

Target price is $84.00 Current Price is $80.90 Difference: $3.1
If WTC meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $73.54, suggesting downside of -9.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 12.90 cents and EPS of 64.90 cents.
At the last closing share price the estimated dividend yield is 0.16%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 124.65.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 70.6, implying annual growth of 18.3%.
Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 114.6.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 18.30 cents and EPS of 91.40 cents.
At the last closing share price the estimated dividend yield is 0.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 88.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 95.1, implying annual growth of 34.7%.
Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 85.1.

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.

Click to view our Glossary of Financial Terms