Australian Broker Call *Extra* Edition – Nov 14, 2023

This story features AUSSIE BROADBAND LIMITED, and other companies. For more info SHARE ANALYSIS: ABB

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)

ABB   AKE   AMC   ARX   AUB   BSL   BVS   CKF   CSR (2)   DMP (2)   DUG   DXS   GQG   HLI   JHG   NDO   NEU   ORA   QBE   SGM   STO   SYM   TPW   TWE   VIT  

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $3.69

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

After Aussie Broadband's Symbio Holdings ((SYM)) acquisition update and equity raising presentation, Wilsons was impressed by management's outline of strong growth opportunities via both organic and acquisitive growth.

The company made clear the raising will be used purely for organic (eg. accelerated spending on its fibre network) and further M&A purposes, with potential targets in all segments outside of Wholesale.

The company is raising $120m via a fully underwritten institutional placement, with a non-underwritten $15m-$20m share purchase plan (SPP). The raise price is at $3.55, a -9.4% discount to the last closing price of $3.92.

Market Weight. Target $3.76.

This report was published on November 3, 2023.

Target price is $3.76 Current Price is $3.69 Difference: $0.07
If ABB meets the Wilsons target it will return approximately 2% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

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

AKE    ALLKEM LIMITED

New Battery Elements – Overnight Price: $8.72

Jarden rates ((AKE)) as Neutral (3) –

Following project updates by management for Olaroz, Sal de Vida, Cauchari and James Bay, and after incorporating 1Q sales and production numbers along with Jarden's lower lithium price forecasts, the broker's Allkem target falls to $12 from $14.60. 

The broker is a believer in the next bull cycle for lithium but suggests the time is too early, even with Allkem shares trading at a -20% discount to Jarden's valuation.

The broker's Neutral rating is unchanged given the ongoing election process in Argentina, which heightens fears of more punitive fiscal terms for the lithium industry in the country.

This report was published on November 2, 2023.

Target price is $12.00 Current Price is $8.72 Difference: $3.28
If AKE meets the Jarden target it will return approximately 38% (excluding dividends, fees and charges).
Current consensus price target is $15.76, suggesting upside of 82.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 31.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 67.5, implying annual growth of -34.5%.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 12.8.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 43.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 95.6, implying annual growth of 41.6%.
Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 9.0.

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

AMC    AMCOR PLC

Paper & Packaging – Overnight Price: $14.09

Jarden rates ((AMC)) as Neutral (3) –

Amcor's 1Q core EPS was a beat against forecasts by consensus and Jarden of 7% and 12%, respectively, largely driven by favourable tax and net interest expenses, a trend which is expected to continue for the balance of H1.

Management retained FY24 core EPS and free cash flow guidance.

The broker is becoming increasingly positive as volume declines have largely stabilised, and the outlook is set to improve in line with offshore packaging peer commentary. Additionally, free cash generation is expected to improve as working capital intensity is unwound.

EPS forecasts for FY25 and FY26 are slightly lowered given uncertainties about the sustainability of cost-out measures as volumes stabilise, explain the analysts. The Neutral rating and $14.30 target are retained.

This report was published on November 2, 2023.

Target price is $14.30 Current Price is $14.09 Difference: $0.21
If AMC meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $15.48, suggesting upside of 10.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 75.21 cents and EPS of 106.26 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 13.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.8, implying annual growth of N/A.
Current consensus DPS estimate is 74.9, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 13.1.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 76.87 cents and EPS of 107.91 cents.
At the last closing share price the estimated dividend yield is 5.46%.
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 115.9, implying annual growth of 8.5%.
Current consensus DPS estimate is 76.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 12.1.

This company reports in USD. 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

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.73

Jarden rates ((ARX)) as Buy (1) –

In the absence of a FY24 guidance upgrade during Aroa Biosurgery's 2Q results presentation, Jarden conservatively tempers revenue expectations for Tela Bio, which is responsible for selling the company's Myriad product.

Also, the broker now assumes lower FY24 earnings and operating margin metrics for Aroa, after comparing negative 1H operating cash outflows of circa -NZ$8m to guidance for operating cashflow breakeven in the 2H.

The broker retains a Buy rating and lowers the target to $1.26 from $1.34.

This report was published on November 1, 2023.

Target price is $1.26 Current Price is $0.73 Difference: $0.525
If ARX meets the Jarden target it will return approximately 71% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.46 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 159.09.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.31 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.79.

This company reports in NZD. 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

AUB    AUB GROUP LIMITED

Insurance – Overnight Price: $28.71

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

Momentum for AUB Group continued into the 1Q of FY24 from FY23, notes Goldman Sachs, particularly in New Zealand and across Agencies.

The analysts believes the resolution of the regulatory investigation into Tysers, a legacy from before its acquisition by AUB Group, is positive as it removes uncertainty.

The broker's existing forecasts are broadly in line with unchanged FY24 underlying profit guidance of between $154-164m. 

The Buy rating and $31 target are unchanged.

This report was published on November 3, 2023.

Target price is $31.00 Current Price is $28.71 Difference: $2.29
If AUB meets the Goldman Sachs target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $34.16, suggesting upside of 16.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 76.00 cents and EPS of 146.00 cents.
At the last closing share price the estimated dividend yield is 2.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 150.5, implying annual growth of 130.3%.
Current consensus DPS estimate is 81.9, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 19.5.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 84.00 cents and EPS of 161.00 cents.
At the last closing share price the estimated dividend yield is 2.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 166.8, implying annual growth of 10.8%.
Current consensus DPS estimate is 91.9, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 17.6.

Market Sentiment: 1.0
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: $19.71

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

Jarden notes US steel spreads are improving as auto strikes are closer to the end than the beginning. Resolution will likely result in higher steel demand, including significant restocking among distributors.

Improved US demand has provided the opportunity for steel companies to flex pricing and recoup recent lost earnings, note the analysts.

Higher prices are leading to improving spreads (HRC price less cost of scrap and pig iron) for BlueScope Steel, explains the broker. Late-November spreads have risen to US$445/mt from a low of US$287/mt.

The Overweight rating and target price of $24.50 are retained.

This report was published on November 2, 2023.

Target price is $24.50 Current Price is $19.71 Difference: $4.79
If BSL meets the Jarden target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $18.80, suggesting downside of -5.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 50.00 cents and EPS of 180.80 cents.
At the last closing share price the estimated dividend yield is 2.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 172.6, implying annual growth of -20.6%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 11.5.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 50.00 cents and EPS of 191.20 cents.
At the last closing share price the estimated dividend yield is 2.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 195.9, implying annual growth of 13.5%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 10.1.

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

BVS    BRAVURA SOLUTIONS LIMITED

Wealth Management & Investments – Overnight Price: $0.79

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

In positive steps at the AGM, according to Wilsons, Bravura Solutions announced a further cost-out strategy and a refocus upon core markets of “APAC wealth, EMEA Wealth and EMEA Transfer Agency".

The total cost out program across FY23-FY24 rises to -$47m from -$40m previously, with the full impact to come in FY25, explain the analysts.

Management reiterated FY24 revenue and earnings guidance, while cash earnings are still expected to return to run-rate profitability by the end of FY24.

Market Weight. Target 69c.

This report was published on November 3, 2023.

Target price is $0.69 Current Price is $0.79 Difference: minus $0.095 (current price is over target).
If BVS meets the Wilsons target it will return approximately minus 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 23.79.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 157.00.

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

CKF    COLLINS FOODS LIMITED

Food, Beverages & Tobacco – Overnight Price: $9.81

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

With Collins Foods' first half result impending, Wilsons is expecting top line resilience but margin contraction. The broker expects investors to be looking for updates on the timing of margin recovery, rollout in the Netherlands, and performance in the Germany market.

The broker has been encouraged by the resilience of sales growth from KFC Australia, noting while price increases account for some growth, underlying sales remain robust.

The Overweight rating increases to $11.19 from $11.16.

This report was published on November 3, 2023.

Target price is $11.19 Current Price is $9.81 Difference: $1.38
If CKF meets the Wilsons target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $10.99, suggesting upside of 11.3%(ex-dividends)
The company's fiscal year ends in May.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 27.00 cents and EPS of 41.00 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 23.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.6, implying annual growth of 328.3%.
Current consensus DPS estimate is 29.9, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.2.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 35.50 cents and EPS of 54.90 cents.
At the last closing share price the estimated dividend yield is 3.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 62.0, implying annual growth of 33.0%.
Current consensus DPS estimate is 34.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 15.9.

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

CSR    CSR LIMITED

Building Products & Services – Overnight Price: $5.80

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

Goldman Sachs makes minor near-term earnings forecast upgrades following CSR's 1H results which showed strong momentum for the Building Products division. Strength is partly attributed to the stickiness of prior pricing actions and strong asset utilisation.

Property and Aluminium division earnings missed due to timing issues and input cost pressures, respectively, explains the broker.

Management noted the ongoing elevated backlog in construction activity, which should sustain demand through to mid-2024, and highlighted the detached housing pipeline was 50% above historical levels.

The broker's target rises by 1% to $6.50 and the Buy rating is maintained.

This report was published on November 3, 2023.

Target price is $6.50 Current Price is $5.80 Difference: $0.7
If CSR meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.94, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 32.00 cents and EPS of 43.00 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.3, implying annual growth of -7.1%.
Current consensus DPS estimate is 32.3, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.8.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 31.00 cents and EPS of 41.00 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 14.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.4, implying annual growth of -4.5%.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 14.4.

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

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Jarden rates ((CSR)) as Downgrade to Neutral from Overweight (3) –

Following CSR's below-consensus 1H results, Jarden downgrades to Neutral from Overweight on peak profitability for the Building Products division, and an uncertain medium and longer-term outlook for the Aluminium business.

A recent share price rally was also taken into account for the ratings downgrade.

The target price rises to $6.00 from $5.70 on higher forecasts for Building Products after record earnings (EBIT) and margins for the half.

The timing of contractual Property profits was delayed and there were greater Aluminium losses than the analysts expected. Jarden would have a more positive view of CSR should the Aluminium business be sold.

This report was published on November 3, 2023.

Target price is $6.00 Current Price is $5.80 Difference: $0.2
If CSR meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $5.94, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 30.10 cents and EPS of 47.00 cents.
At the last closing share price the estimated dividend yield is 5.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.3, implying annual growth of -7.1%.
Current consensus DPS estimate is 32.3, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.8.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 33.00 cents and EPS of 46.80 cents.
At the last closing share price the estimated dividend yield is 5.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 40.4, implying annual growth of -4.5%.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 14.4.

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

DMP    DOMINO'S PIZZA ENTERPRISES LIMITED

Food, Beverages & Tobacco – Overnight Price: $51.41

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

A trading update by Goldman Sachs for the first 16 weeks of FY24 was slightly softer than Goldman Sachs anticipated due to slightly weaker results for Japan and France.

Management expects material sales and earnings improvements in FY24 by comparison to FY23.

The broker continues too see risk in Japan with channel checks indicating a post-covid swing back to restaurants and the strength of local competition.

The $40.30 target and Sell rating are unchanged.

This report was published on November 2, 2023.

Target price is $40.30 Current Price is $51.41 Difference: minus $11.11 (current price is over target).
If DMP meets the Goldman Sachs target it will return approximately minus 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $58.10, suggesting upside of 12.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 136.00 cents and EPS of 169.00 cents.
At the last closing share price the estimated dividend yield is 2.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.42.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 169.4, implying annual growth of 267.5%.
Current consensus DPS estimate is 123.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 30.4.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 156.00 cents and EPS of 195.00 cents.
At the last closing share price the estimated dividend yield is 3.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 217.6, implying annual growth of 28.5%.
Current consensus DPS estimate is 161.2, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 23.7.

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

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

The medium-term growth trajectory for Domino's Pizza Enterprises is intact, yet a sustainable post-covid lift in return on invested capital (ROIC) is required before Jarden moves to a Buy rating from Overweight.

The broker forms these views following a "positive" FY24 year-to-date update by the company, with year-on-year sales and same store sales (SSS) growth of 12.7% and 2.7%, respectively.

Management's commentary on the earnings outlook was largely unchanged, notes Jarden.

The broker's Overweight rating and target price of $65 are retained.

This report was published on November 2, 2023.

Target price is $65.00 Current Price is $51.41 Difference: $13.59
If DMP meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $58.10, suggesting upside of 12.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 168.00 cents and EPS of 173.40 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 29.65.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 169.4, implying annual growth of 267.5%.
Current consensus DPS estimate is 123.5, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 30.4.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 222.00 cents and EPS of 229.00 cents.
At the last closing share price the estimated dividend yield is 4.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 217.6, implying annual growth of 28.5%.
Current consensus DPS estimate is 161.2, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 23.7.

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

DUG    DUG TECHNOLOGY LIMITED

Cloud services – Overnight Price: $1.80

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

Following a 1Q update by DUG Technology showing ongoing strong Services awards momentum, Canaccord Genuity maintains its Buy rating and $2.00 target.

While demand remains robust, according to the analyst, revenue and earnings were suppressed in the quarter by downtime for machines due to memory upgrades.

Also, some projects were constrained by compute resources, which will be rectified in early-December after installing US$7m of new resources, explains the broker.

Canaccord forecasts FY24 revenue and earnings (EBITDA) growth of 25% and 35%, respectively.

This report was published on November 2, 2023.

Target price is $2.00 Current Price is $1.80 Difference: $0.2
If DUG meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).

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

DXS    DEXUS

REITs – Overnight Price: $6.90

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

Dexus continued to reposition itself away from its 'office landlord' moniker at its recent investor day, despite office continuing to account for 62% of earnings. Jarden expects investors will ultimately look through this commentary. 

The company has invested significant capital into building and buying fund management capabilities, and Jarden finds it well positioned to benefit from structural trends across its diversified model, but notes execution is now key for the company. 

The Underweight rating and target price of $8.10 are retained.

This report was published on November 2, 2023.

Target price is $8.10 Current Price is $6.90 Difference: $1.2
If DXS meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $8.64, suggesting upside of 23.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 48.00 cents and EPS of 64.10 cents.
At the last closing share price the estimated dividend yield is 6.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.8, implying annual growth of N/A.
Current consensus DPS estimate is 48.0, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 11.3.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 46.90 cents and EPS of 63.20 cents.
At the last closing share price the estimated dividend yield is 6.80%.
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 64.3, implying annual growth of 4.0%.
Current consensus DPS estimate is 49.6, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 10.8.

Market Sentiment: 0.1
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: $1.31

Goldman Sachs rates ((GQG)) as No Rating (-1) –

GQG Partners has made a non-binding indicative proposal to acquire 100% of Pacific Current Group ((PAC)) for $11/share by way of a scheme of arrangement, following completion of due diligence.

While Pacific Current Group is supportive of the bid, GQG Partners is yet to gain support from the target's largest shareholder River Capital.

No rating or target was provided by the broker.

This report was published on November 2, 2023.

Current Price is $1.31. Target price not assessed.
Current consensus price target is $2.09, suggesting upside of 58.1%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 13.05 cents and EPS of 13.56 cents.
At the last closing share price the estimated dividend yield is 9.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.6, implying annual growth of N/A.
Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 10.5%.
Current consensus EPS estimate suggests the PER is 9.0.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 14.24 cents and EPS of 15.07 cents.
At the last closing share price the estimated dividend yield is 10.83%.
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 16.1, implying annual growth of 10.3%.
Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 11.3%.
Current consensus EPS estimate suggests the PER is 8.2.

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

HLI    HELIA GROUP LIMITED

Insurance – Overnight Price: $3.79

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

September quarterly data submitted to the Australian Prudential Regulation Authority (APRA) by Helia Group shows the group was run-rating better than Goldman Sachs prior forecasts.

An improvement for incurred claims was partially offset by unrealised losses on the investment portfolio, explain the analysts.

The broker's target rises to $4.09 from $4.05 and the Buy rating is maintained. 

This report was published on November 3, 2023.

Target price is $4.09 Current Price is $3.79 Difference: $0.3
If HLI meets the Goldman Sachs target it will return approximately 8% (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 30.00 cents and EPS of 87.00 cents.
At the last closing share price the estimated dividend yield is 7.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.36.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 32.00 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 8.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.21.

Market Sentiment: 0.0
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: $37.97

Jarden rates ((JHG)) as Upgrade to Neutral from Underweight (3) –

Janus Henderson's third quarter earnings per share have far surpassed Jarden's expectations, despite continued outflows, helped by stronger management fee margins and robust cost management. 

The company's board approved a $150m buyback, leaving Janus Henderson with the option to pursue capital management. Jarden remains cautious on near-term flows given weaker fund performance, expecting the company to suffer outflows for up to a further two years. 

The rating is upgraded to Neutral from Underweight and the target price increases to $39.70 from $37.05.

This report was published on November 2, 2023.

Target price is $39.70 Current Price is $37.97 Difference: $1.73
If JHG meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $40.76, suggesting upside of 7.6%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 235.12 cents and EPS of 328.11 cents.
At the last closing share price the estimated dividend yield is 6.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 358.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.6.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 241.15 cents and EPS of 347.25 cents.
At the last closing share price the estimated dividend yield is 6.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 370.8, implying annual growth of 3.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 10.2.

This company reports in USD. 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

NDO    NIDO EDUCATION LIMITED

Overnight Price: $0.93

Moelis rates ((NDO)) as Initiation of coverage with Buy (1) –

As a result of its incubator partnership model, Nido Education has the opportunity to acquire high-quality, custom-built, long day care (LDC) early childhood education centres, explains Moelis.

The company manages these centres from initial opening, notes the broker, and holds an exclusive option to acquire once key operating metrics have been achieved.

Moelis initiates research coverage with a Buy rating and $1.34 target. 

Occupancy across the 52 existing owned centres is expected to rise to 86% by 2026 from 74% in 2023. Also, around 15 centres per year should be acquired through the incubator pipeline, thereby growing the centre network to 84 by 2026, explains the broker.

This report was published on November 3, 2023.

Target price is $1.34 Current Price is $0.93 Difference: $0.41
If NDO meets the Moelis target it will return approximately 44% (excluding dividends, fees and charges).

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 5.40 cents and EPS of 7.30 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.74.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 5.90 cents and EPS of 8.50 cents.
At the last closing share price the estimated dividend yield is 6.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.94.

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

NEU    NEUREN PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $14.33

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

Sales of Daybue in the third quarter, as announced by Neuren Pharmaceuticals' partner Acadia, have exceeded guidance totalling US$66.9m. Wilsons notes Centres of Excellence are providing much higher pent up demand than expected.

Acadia is already guiding to a strong fourth quarter, with expectations of Daybue sales between US$80 and US$87.5m implying a run rate above US$350m heading into the new year. 

The Overweight rating and target price of $22.21 are retained.

This report was published on November 3, 2023.

Target price is $22.21 Current Price is $14.33 Difference: $7.88
If NEU meets the Wilsons target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 116.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.33.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 27.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 52.11.

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

ORA    ORORA LIMITED

Paper & Packaging – Overnight Price: $2.51

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

While Goldman Sachs will not be allowing for the Saverglass acquisition in its forecasts until completion, the recently completed equity raising is incorporated, resulting in a $3.55 target, down from $3.92.

The broker sees an improved risk/reward skew for the Orora share price given shares implied (on November 1) a potential Saverglass valuation of around $1.5bn compared to the $2.2bn acquisition price. Buy.

This report was published on November 2, 2023.

Target price is $3.55 Current Price is $2.51 Difference: $1.04
If ORA meets the Goldman Sachs target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $3.57, suggesting upside of 41.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 13.00 cents and EPS of 18.00 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 13.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.6, implying annual growth of 10.4%.
Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 11.2.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 13.00 cents and EPS of 18.00 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 13.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.0, implying annual growth of 10.6%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 7.5%.
Current consensus EPS estimate suggests the PER is 10.1.

Market Sentiment: 0.4
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: $15.44

Jarden rates ((QBE)) as Buy (1) –

Ahead of QBE Insurance's third quarter result release, Jarden has taken readthroughs from peers. The broker considers the full year earnings outlook "largely intact", but points out higher global risk-free rate outlooks offer significant upside potential to consensus into FY24.

With the broker estimated an average gross written premium increase of 8.9% across six of QBE Insurance's peers, Jarden assumes a 10.6% premium rate for the company over the second half. 

Meanwhile, with the US cropping season nearing an end, the broker estimates a crop combined operating ratio around 3% higher than over FY21 and FY22. 

The Buy rating is retained and the target price increases to $21.00 from $20.50.

This report was published on November 2, 2023.

Target price is $21.00 Current Price is $15.44 Difference: $5.56
If QBE meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $17.16, suggesting upside of 9.3%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 105.50 cents and EPS of 135.64 cents.
At the last closing share price the estimated dividend yield is 6.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 140.9, implying annual growth of N/A.
Current consensus DPS estimate is 102.3, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 11.1.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 153.73 cents and EPS of 192.31 cents.
At the last closing share price the estimated dividend yield is 9.96%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 187.5, implying annual growth of 33.1%.
Current consensus DPS estimate is 126.4, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 8.4.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $12.73

Jarden rates ((SGM)) as Neutral (3) –

Following the Sims AGM, Jarden believes 1H consensus earnings downgrades are likely and increased uncertainty (read downside earnings risk) should persist further into FY24, with 2H consensus forecasts implying a meaningful recovery.

A new Chairman and CEO could be a potential catalyst for further portfolio changes, suggest the analysts, such as either getting big or getting out of the UK after sustained underperformance.

The Neutral rating and $14.66 target are unchanged.

This report was published on November 3, 2023.

Target price is $14.66 Current Price is $12.73 Difference: $1.93
If SGM meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $12.88, suggesting upside of 0.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 10.70 cents and EPS of 35.60 cents.
At the last closing share price the estimated dividend yield is 0.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.6, implying annual growth of -55.6%.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 30.9.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 29.30 cents and EPS of 97.70 cents.
At the last closing share price the estimated dividend yield is 2.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 104.9, implying annual growth of 152.2%.
Current consensus DPS estimate is 45.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 12.2.

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

STO    SANTOS LIMITED

NatGas – Overnight Price: $7.10

Jarden rates ((STO)) as Neutral (3) –

Jarden suggests start-up for the Barossa LNG project is more likely in H1 2026 (current target is H1 2025) and the budget will eventually increase to US$5.0bn from current guidance US$4.3bn.

This altered outlook by the broker follows a temporary injunction by the Federal Court against Santos to stop the commencement of pipeline laying for the 50%-owned project.

The broker's valuation for Barossa LNG is 96cps, which is then risk weighted at 50%, and 48cps in included in the sum-of-the-parts valuation.

The broker's Neutral rating and $7.95 target are unchanged.

This report was published on November 3, 2023.

Target price is $7.95 Current Price is $7.10 Difference: $0.85
If STO meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $9.52, suggesting upside of 31.2%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 25.32 cents and EPS of 68.88 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 10.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.9, implying annual growth of N/A.
Current consensus DPS estimate is 31.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 9.8.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 37.08 cents and EPS of 69.18 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 10.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 77.3, implying annual growth of 4.6%.
Current consensus DPS estimate is 34.0, implying a prospective dividend yield of 4.7%.
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: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SYM    SYMBIO HOLDINGS LIMITED

Telecommunication – Overnight Price: $2.89

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

Canaccord Genuity believes Aussie Broadband's ((ABB)) bid for Symbio Holdings is too low, based on previous comparable transaction values and optionality over the Asian expansion strategy.

The broker lowers its target for Symbio to $3.00 from $4.45 to nearly align with the $3.01 Symbio board-backed offer, and downgrades the rating to Hold from Buy.

This report was published on November 2, 2023.

Target price is $3.00 Current Price is $2.89 Difference: $0.11
If SYM meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 4.90 cents and EPS of 13.40 cents.
At the last closing share price the estimated dividend yield is 1.70%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.57.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 6.10 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 2.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.01.

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

TPW    TEMPLE & WEBSTER GROUP LIMITED

Furniture & Renovation – Overnight Price: $6.61

Jarden rates ((TPW)) as Neutral (3) –

US-based Wayfair Inc is the most relevant overseas peer for Temple & Webster, and recent 3Q results confirm Jarden's view Temple & Webster can also fund aggressive market share gains utilising its negative working capital model.

Wayfair emerged from nine consecutive quarters of negative year-on-year growth, despite adopting a far more conservative growth model (by cutting back on marketing and exerting cost control) than competitors, explains the broker.

The Overweight rating and $6.50 target for Temple & Webster are unchanged.

This report was published on November 3, 2023.

Target price is $6.50 Current Price is $6.61 Difference: minus $0.11 (current price is over target).
If TPW meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.56, suggesting upside of 1.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 EPS of 4.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 157.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.3, implying annual growth of -37.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 149.8.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 6.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 95.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.7, implying annual growth of 79.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 83.6.

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

TWE    TREASURY WINE ESTATES LIMITED

Food, Beverages & Tobacco – Overnight Price: $10.66

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

The US luxury category will rise to around 50% of Treasury Wine Estates' global net sales revenue (NSR) following the acquisition of wine producer DAOU for US$900m, with potential for a further US100m in cost due to earn-outs.

The broker believes the transaction price is fair, and notes the business provides greater exposure to higher growth within the US$2.6bn luxury segment. Material synergies are also expected around sourcing, overheads and distribution.

Concerns include the extent to which recent growth has been driven by increased distribution, the challenging macroeconomic environment in the US and management's ability to integrate at the same time as 19 Crimes is relaunching.

The target falls to $12.30 from $13.50. Overweight.

This report was published on November 1, 2023.

Target price is $12.30 Current Price is $10.66 Difference: $1.64
If TWE meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $13.22, suggesting upside of 25.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 43.00 cents and EPS of 55.60 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 19.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 53.2, implying annual growth of 52.4%.
Current consensus DPS estimate is 36.2, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 19.9.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 51.00 cents and EPS of 66.00 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.3, implying annual growth of 15.2%.
Current consensus DPS estimate is 41.6, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 17.3.

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

VIT    VITURA HEALTH LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.32

Petra Capital rates ((VIT)) as Buy (1) –

Vitura Health has conducted a presentation outlining the rationale for the Doctors on Demand acqusiition, not the least of which was annualised revenue of $18.2m (based on September revenue), an opportunity to diversify revenue streams, and insights into higher value medications that could boost distribution revenue.

Petra Capital also points out the regulatory driven shift from asynchronous telehealth consultations to live tele consultations, for which Doctors on Demand is well position.

The broker observes telehealth consultations constitute less than 1% of market share, and expects rapid growth.

Buy rating and 70c target price retained.

This report was published on November 3, 2023.

Target price is $0.70 Current Price is $0.32 Difference: $0.38
If VIT meets the Petra Capital target it will return approximately 119% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 1.00 cents and EPS of 3.00 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.67.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 1.00 cents and EPS of 4.60 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.96.

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

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