Daily Market Reports | Apr 08 2024
This story features 3P LEARNING LIMITED, and other companies. For more info SHARE ANALYSIS: 3PL
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
3PL AMP ASB AUB AVA BKW BOE BPT CGF (2) CIA CLV CNB COE CXM EVN HUB IAG IFL KAR LEL LNW MFG MPL NHF NWL ORA (2) PER PPT PTM QBE (2) RFG RHC SDF SUN (2) SYA TWE WGX WR1
3PL 3P LEARNING LIMITED
Education & Tuition – Overnight Price: $1.23
Taylor Collison rates ((3PL)) as Speculative Buy (1) –
3P Learning's 1H result on February 20 was largely transitional, though Taylor Collison notes all key strategies are now in place and management is well positioned to capitalise on future opportunities.
Having re-acquired Reading Eggs US school's distribution rights, the broker highlights 3P Learning now owns distribution of all products globally, which allows management to focus on the lucrative US schools market.
As the peak for development development costs has passed, the analyst expects margin expansion as revenue growth outpaces cost growth.
Also assisting margins, the company is focusing upon the highest growth opportunities and has reduced investment in low priority areas to achieve $5m of annualised savings from March 2024, explains Taylor Collison.
The target rises to $1.64 from $1.46 and the Speculative Buy rating is maintained.
This report was published on March 26, 2024.
Target price is $1.64 Current Price is $1.23 Difference: $0.41
If 3PL meets the Taylor Collison target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Taylor Collison forecasts a full year FY24 dividend of 0.00 cents and EPS of 4.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.60.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.10.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMP AMP LIMITED
Wealth Management & Investments – Overnight Price: $1.17
Jarden rates ((AMP)) as Neutral (3) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments (3% on average) to FY24 funds under management (FUM) forecasts for wealth managers under research coverage.
The broker maintains an Neutral rating for AMP, but raises the target to $1.20 from $1.15.
The largest upgrades go to Netwealth Group, as it is a pure-play platform provider, and Insignia Group which has stronger leverage given thinner operating margins. AMP has non-platform earnings which dilute some of the benefits of the recent global equity rally.
The broker prefers both Challenger and Insignia Financial in the space.
This report was published on April 4, 2024.
Target price is $1.20 Current Price is $1.17 Difference: $0.035
If AMP meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.11, suggesting downside of -5.1%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 6.00 cents and EPS of 8.08 cents.
At the last closing share price the estimated dividend yield is 5.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.0, implying annual growth of 1011.1%.
Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 16.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 7.00 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 6.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 38.6%.
Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 12.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies – Overnight Price: $2.29
Petra Capital rates ((ASB)) as Buy (1) –
Petra Capital suggests the indicative takeover launched by Hanwha Group to acquire Austal for $2.825/share in cash is opportunistic and unlikely to succeed.
The Australian government plans to establish a sovereign shipbuilding capability, in part by leveraging the AUKUS agreement, which may make obtaining regulatory approval for the takeover difficult, in the broker's view.
Management at Austal have not yet granted the suitor access to its data room given concerns that it will fail to get regulatory approvals, though “remains open to engagement with Hanwha”.
The Buy rating and target price of $3.08 are retained.
This report was published on April 3, 2024.
Target price is $3.08 Current Price is $2.29 Difference: $0.79
If ASB meets the Petra Capital target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $2.68, suggesting upside of 17.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 7.50 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 3.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.7, implying annual growth of N/A.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 48.7.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 8.00 cents and EPS of 11.30 cents.
At the last closing share price the estimated dividend yield is 3.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.3, implying annual growth of 161.7%.
Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 18.6.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AUB AUB GROUP LIMITED
Insurance – Overnight Price: $29.07
Jarden rates ((AUB)) as Overweight (2) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
In the broker category, the target for AUB Group rises to $33.85 from $32.95 and the Overweight rating is unchanged.
This report was published on April 4, 2024.
Target price is $33.85 Current Price is $29.07 Difference: $4.78
If AUB meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $34.82, suggesting upside of 19.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 80.00 cents and EPS of 154.10 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 18.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 154.5, implying annual growth of 136.4%.
Current consensus DPS estimate is 76.3, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 18.9.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 99.00 cents and EPS of 179.20 cents.
At the last closing share price the estimated dividend yield is 3.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 169.5, implying annual growth of 9.7%.
Current consensus DPS estimate is 97.7, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 17.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AVA AVA RISK GROUP LIMITED
Hardware & Equipment – Overnight Price: $0.13
Petra Capital rates ((AVA)) as Buy (1) –
Ava Risk has successfully completed a $3m institutional placement, and will proceed with its intention to launch a $1m share purchase plan.
Proceeds, notes Petra Capital, will support the execution of recent contract wins, with some funds market for the Telstra supply contract. The broker feels this allows Ava Risk breathing space to execute on its opportunity pipeline.
The Buy rating is retained and the target price decreases to 35 cents from 36 cents.
This report was published on April 5, 2024.
Target price is $0.35 Current Price is $0.13 Difference: $0.22
If AVA meets the Petra Capital target it will return approximately 169% (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 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 21.67.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.29.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BKW BRICKWORKS LIMITED
Building Products & Services – Overnight Price: $27.76
Jarden rates ((BKW)) as Neutral (3) –
At July's end, the current Chief Operating Officer, Mark Ellenor, will replace CEO and Managing Director, Lindsay Partridge, who Jarden describes as a doyen of the Australian building and construction industry.
Stability will likely follow this announcement, suggests the broker, as Ellenor is a very strong successor.
The Neutral rating and $28.50 target are unchanged. The broker prefers Neutral-rated Boral in the space.
This report was published on April 3, 2024.
Target price is $28.50 Current Price is $27.76 Difference: $0.74
If BKW meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $30.80, suggesting upside of 11.3%(ex-dividends)
The company's fiscal year ends in July.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 67.00 cents and EPS of 28.50 cents.
At the last closing share price the estimated dividend yield is 2.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 97.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.0, implying annual growth of -92.3%.
Current consensus DPS estimate is 62.4, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 138.4.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 69.00 cents and EPS of 199.30 cents.
At the last closing share price the estimated dividend yield is 2.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.93.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 135.2, implying annual growth of 576.0%.
Current consensus DPS estimate is 64.2, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 20.5.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BOE BOSS ENERGY LIMITED
Uranium – Overnight Price: $5.03
Canaccord Genuity rates ((BOE)) as Speculative Buy (1) –
In a highly positive de-risking event for the re-start of Boss Energy's Honeymoon mine, according to Canaccord Genuity, the Ion-Exchange (IX) circuit adsorption columns have now been filled with resin.
Adsorption is where the atoms, ions, or molecules from a substance adhere to a surface of the adsorbent.
The broker explains this outcome effectively recover the high tenors of uranium from the pregnant leach solution. A transfer of the loaded resin to the elution columns is expected to follow.
The resin is eluted to recover uranium to a concentrated high-grade eluate.
The inclusion of ion exchange columns and removal of solvent extraction was a key process flow sheet change, highlights the analyst.
The Speculative Buy rating and $5.25 target are unchanged.
This report was published on April 4, 2024.
Target price is $5.25 Current Price is $5.03 Difference: $0.22
If BOE meets the Canaccord Genuity target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $5.42, suggesting upside of 12.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.4, implying annual growth of 192.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 46.5.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.5, implying annual growth of 106.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.5.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BPT BEACH ENERGY LIMITED
Crude Oil – Overnight Price: $1.90
Canaccord Genuity rates ((BPT)) as Hold (3) –
New CEO Brett Woods is wasting no time in improving cost structures at Beach Energy, says Canaccord Genuity. It has been announced the company's roughly 750 headcount will be reduced by -30%, a larger reduction than the market had been anticipating.
The broker points out while Beach Energy's production has declined by more than -30% since FY19, its headcount has increased 15%. Canaccord Genuity expects cuts to be "very targeted".
The Hold rating and target price of $1.65 are retained.
This report was published on March 28, 2024.
Target price is $1.65 Current Price is $1.90 Difference: minus $0.245 (current price is over target).
If BPT meets the Canaccord Genuity target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.02, suggesting upside of 27.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 2.00 cents and EPS of 18.10 cents.
At the last closing share price the estimated dividend yield is 1.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.0, implying annual growth of -9.0%.
Current consensus DPS estimate is 3.8, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 2.00 cents and EPS of 22.60 cents.
At the last closing share price the estimated dividend yield is 1.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.38.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.9, implying annual growth of 68.1%.
Current consensus DPS estimate is 7.9, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 5.9.
Market Sentiment: 0.8
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: $6.98
Goldman Sachs rates ((CGF)) as Buy (1) –
Goldman Sachs has marked its Challenger valuation model to market for the March quarter. The broker expects a positive investment experience of some $220m on the asset side, largely driven by alternatives, with property marked to market once a half.
Goldman also expects capital to be stronger at the end of FY24, and higher FUM in Challenger’s funds management business from market performance.
Buy and $7.50 target retained.
This report was published on April 5, 2024.
Target price is $7.50 Current Price is $6.98 Difference: $0.52
If CGF meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $7.16, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 25.00 cents and EPS of 60.00 cents.
At the last closing share price the estimated dividend yield is 3.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.3, implying annual growth of 12.2%.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 26.00 cents and EPS of 64.00 cents.
At the last closing share price the estimated dividend yield is 3.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.7, implying annual growth of 24.1%.
Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.8.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((CGF)) as Overweight (2) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments (3% on average) to FY24 funds under management (FUM) forecasts for wealth managers under research coverage.
For Challenger, the Overweight rating and $7.55 target are maintained. The analysts highlight structural retirement savings tailwinds supporting an increasingly longer duration and higher margin product mix.
The broker prefers both Challenger and Insignia Financial (due to valuation) in the space.
This report was published on April 4, 2024.
Target price is $7.55 Current Price is $6.98 Difference: $0.57
If CGF meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $7.16, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 25.30 cents and EPS of 54.80 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 12.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.3, implying annual growth of 12.2%.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 26.20 cents and EPS of 60.90 cents.
At the last closing share price the estimated dividend yield is 3.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.7, implying annual growth of 24.1%.
Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.8.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CIA CHAMPION IRON LIMITED
Iron Ore – Overnight Price: $6.61
Jarden rates ((CIA)) as Downgrade to Overweight from Buy (2) –
Jarden downgrades its rating for Champion Iron to Overweight from Buy and reduces the target to $7.76 from $9.24 largely due to the impact on forecasts of a further softening for iron ore prices.
Management has also telegraphed a soft quarter-on-quarter outcome for the upcoming March quarter release on April 23, as optimisation/maintenance will impact on production.
Jarden continues to like both Champion Iron's strategic differentiation and organic growth optionality. However, iron ore benchmarks are expected to correct further due to both China's economic challenges and the looming Simandou development in the Republic of Guinea.
This report was published on April 4, 2024.
Target price is $7.76 Current Price is $6.61 Difference: $1.15
If CIA meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 12.40 cents and EPS of 65.97 cents.
At the last closing share price the estimated dividend yield is 1.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.02.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 2.26 cents and EPS of 84.12 cents.
At the last closing share price the estimated dividend yield is 0.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.86.
This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CLV CLOVER CORPORATION LIMITED
Health & Nutrition – Overnight Price: $0.52
Taylor Collison rates ((CLV)) as Upgrade to Speculative Buy from Outperform (1) –
Taylor Collison upgrades its rating for Clover to Speculative Buy from Overweight noting the company is an attractive acquisition target for a larger company, as evidenced by all of its competitors operating as divisions in larger businesses.
Clover is the world leader in the manufacture of micro-encapsulated Docosahexaenoic Acid (DHA), which the broker explains is predominantly sold to infant formula manufacturers.
The company's 1H revenue (results on March 20) of $27.3m was a miss against the analyst's $32m forecast due to issues in the Chinese (change of standards) and Middle Eastern markets (related to inventories from a manufacturer of infant formula).
No target price is mentioned in Taylor Collison's latest research.
This report was published on March 27, 2024.
Current Price is $0.52. Target price not assessed.
The company's fiscal year ends in July.
Forecast for FY24:
Taylor Collison forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 74.29.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 dividend of 1.20 cents and EPS of 2.80 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.57.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNB CARNABY RESOURCES LIMITED
Mining – Overnight Price: $0.63
Petra Capital rates ((CNB)) as Buy (1) –
A binding agreement has been struck by Carnaby Resources to acquire from Hammer Metals ((HMX)) an initial 51% beneficial interest in the tenure which surrounds Carnaby's Mount Hope Central and Mount Hope North deposits.
Petra Capital labels this transaction a significant de-risking event for Carnaby Resources, as it enables optimisation of mine development, at what is a relatively constrained site.
An enlarged unconstrained open pit scenario will be included in the Greater Duchess Scoping Study, explains the analyst.
As an upfront consideration of $4m cash and 9.091m Carnaby Resources shares (current value $5.6m) will be required for the transaction, the target slips to $1.45 from $1.50 due to the dilutionary impact from the issue of shares. Buy.
This report was published on April 3, 2024.
Target price is $1.45 Current Price is $0.63 Difference: $0.82
If CNB meets the Petra Capital target it will return approximately 130% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
COE COOPER ENERGY LIMITED
Crude Oil – Overnight Price: $0.23
Jarden rates ((COE)) as Overweight (2) –
The Basker-Manta-Gummy (BMG) decommissioning program remains on budget and on track to be completed by early May, notes Jarden, following the announced completion of a more challenging phase of the program.
This completion is a significant milestone, in the broker's opinion, given the cost of the program equates to around half of Cooper Energy's market capitalisation. The unexpected cost increase back in January had also heightened the analysts' anxiety.
In a further positive, management's cost estimate for a third sulphur absorber at Orbost has come in lower than the analysts had been anticipating. The absorber is expected increase the overall production rate.
The Overweight rating is maintained and the target raised to 24c from 19c.
This report was published on April 4, 2024.
Target price is $0.24 Current Price is $0.23 Difference: $0.01
If COE meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $0.25, suggesting upside of 8.7%(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 0.00 cents.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.6, 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 38.3.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.2, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.2.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CXM CENTREX LIMITED
Overnight Price: $0.06
Taylor Collison rates ((CXM)) as Speculative Buy (1) –
Taylor Collison highlights Centrex is on the cusp of transitioning the Ardmore Phosphate Mine in Queensland to a more cost-efficient operation. Only modest capex is required and the project is expected to benefit from economies-of-scale.
The plant has exceeded metallurgical design parameters, notes the analyst, and has consistently achieved above-nameplate throughput capacity.
Management reports there was more than 16,000t of phosphate product stored at the Townsville port, as at March 25. During April, Centrex expects to sell approximately 20,000t of beneficiated phosphate concentrate.
Several offtake agreements are in place with industry-leading trading and agricultural groups essentially which covers the
majority of the projected production from Ardmore over the next three years, highlights Taylor Collison.
No 12-month target price or EPS forecasts were evident within the broker's research note.
This report was published on March 28, 2024.
Current Price is $0.06. Target price not assessed.
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: $3.90
Jarden rates ((EVN)) as Underweight (4) –
Despite an increase in Jarden's short-to medium-term price forecasts for gold and copper, the target for Evolution Mining only rises to $3.12 from $3.00 because of a weaker outlook for the Red Lake project.
The broker lowers its plateau production forecast at Red Lake from FY27, removing all growth capex and maintaining the sustaining capex (inclusive of mine development) estimates at -$50m/year.
The analsyts caution that should management elect to lower its production and earnings forecasts for Red Lake, consensus valuations would be impacted.
The Underweight rating is retained.
This report was published on April 3, 2024.
Target price is $3.12 Current Price is $3.90 Difference: minus $0.78 (current price is over target).
If EVN meets the Jarden target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.73, suggesting downside of -4.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 8.00 cents and EPS of 22.70 cents.
At the last closing share price the estimated dividend yield is 2.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.5, implying annual growth of 197.4%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 14.8.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 13.00 cents and EPS of 35.80 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 36.9, implying annual growth of 39.2%.
Current consensus DPS estimate is 16.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 10.6.
Market Sentiment: 0.9
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: $41.62
Jarden rates ((HUB)) as Neutral (3) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments (3% on average) to FY24 funds under management (FUM) forecasts for wealth managers under research coverage.
The broker maintains an Neutral rating for Hub24, but raises the target to $41.75 from $38.50.
The largest upgrades go to Netwealth Group, as it is a pure-play platform provider, and Insignia Group which has stronger leverage given thinner operating margins. Hub24 has non-platform earnings which dilute some of the benefits of the recent global equity rally.
The broker prefers both Challenger and Insignia Financial in the space.
This report was published on April 4, 2024.
Target price is $41.75 Current Price is $41.62 Difference: $0.13
If HUB meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $41.04, suggesting downside of -2.8%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 41.70 cents and EPS of 82.60 cents.
At the last closing share price the estimated dividend yield is 1.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 84.0, implying annual growth of 76.1%.
Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 50.3.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 55.80 cents and EPS of 111.50 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 37.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.8, implying annual growth of 29.5%.
Current consensus DPS estimate is 53.2, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 38.8.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
IAG INSURANCE AUSTRALIA GROUP LIMITED
Insurance – Overnight Price: $6.40
Jarden rates ((IAG)) as Buy (1) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
The target for Insurance Australia Group (Buy) eases to $6.80 from $6.95.
This report was published on April 4, 2024.
Target price is $6.80 Current Price is $6.40 Difference: $0.4
If IAG meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.08, suggesting downside of -5.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 29.00 cents and EPS of 38.60 cents.
At the last closing share price the estimated dividend yield is 4.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 32.2, implying annual growth of -5.1%.
Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 20.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 31.00 cents and EPS of 42.60 cents.
At the last closing share price the estimated dividend yield is 4.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.8, implying annual growth of 20.5%.
Current consensus DPS estimate is 30.6, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 16.6.
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: $2.47
Jarden rates ((IFL)) as Overweight (2) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments (3% on average) to FY24 funds under management (FUM) forecasts for wealth managers under research coverage.
The broker maintains an Overweight rating for Insignia Financial and raises the target to $3.00 from $2.80.
Given Insignia's stronger leverage given thinner operating margins, the broker sees greater potential upside due to stronger leverage into FY25 compared to Hub24 and AMP where non-platform earnings dilute some of the benefits.
The broker prefers both Challenger and Insignia Financial (due to valuation) in the space.
This report was published on April 4, 2024.
Target price is $3.00 Current Price is $2.47 Difference: $0.53
If IFL meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $2.61, suggesting upside of 5.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 20.40 cents and EPS of 30.30 cents.
At the last closing share price the estimated dividend yield is 8.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.5, implying annual growth of 2180.0%.
Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 7.5%.
Current consensus EPS estimate suggests the PER is 8.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 23.10 cents and EPS of 33.00 cents.
At the last closing share price the estimated dividend yield is 9.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.7, implying annual growth of 4.2%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 7.8%.
Current consensus EPS estimate suggests the PER is 8.4.
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
KAR KAROON ENERGY LIMITED
Crude Oil – Overnight Price: $2.27
Wilsons rates ((KAR)) as Overweight (1) –
Karoon Energy will proceed with the drilling of two wells in the Gulf of Mexico having recieved neccessary approval, with works to take place near its Who Dat asset.
The wells, notes Wilsons, have the potential to increase reserves by almost 30% and share price by as much as 40 cents. The broker considers the drilling program medium-risk exploration in a relatively well understood geography.
The Overweight rating and target price of $2.71 are retained.
This report was published on April 3, 2024.
Target price is $2.71 Current Price is $2.27 Difference: $0.44
If KAR meets the Wilsons target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.76, suggesting upside of 21.5%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 41.52 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 49.6, 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 4.6.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 50.95 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.2, implying annual growth of -12.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 5.3.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LEL LITHIUM ENERGY LIMITED
New Battery Elements – Overnight Price: $0.50
Petra Capital rates ((LEL)) as Buy (1) –
Lithium Energy and Novonix ((NVX)) will merge their Queensland graphite deposits, creating the spin-out company Axon Graphite.
With Axon set to have a resource of 4.5m tonnes contained graphite, Petra Capital points out it will be a high-grade resource in a tier one jurisdiction.
The merge will be completed through an initial public offer on the ASX. Lithium Energy expects consolidating these assets will deliver synergies and economies of scale.
The Buy rating and target price of $1.86 are retained.
This report was published on April 5, 2024.
Target price is $1.86 Current Price is $0.50 Difference: $1.36
If LEL meets the Petra Capital target it will return approximately 272% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 11.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.55.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.45.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LNW LIGHT & WONDER INC
Gaming – Overnight Price: $152.66
Jarden rates ((LNW)) as Overweight (2) –
The Dragon Train game was only launched in August 2023, but continues to assist Light & Wonder in taking market share from peer Aristocrat Leisure ((ALL)), explains Jarden. Further positive A&NZ sales momentum is anticipated.
The Australian market has been dominated by Aristocrat's two once-in-a-generation games, Lightning Link and Dragon Link, explain the analysts, which still still dominate the US Class III Gaming Operations market.
Little wonder then Aristocrat is defending its IP and taking legal action against Light & Wonder.
It's felt any game similarities are purely a result of Light & Wonder building to market demands, though the broker, acknowledges legal expertise is not the broker's strong point.
Light & Wonder's motion to dismiss cites Aristocrat's legal claim as effectively being a fishing expedition, driven by commercial concerns, observe the analysts.
The Overweight rating and $164 target are retained.
This report was published on April 4, 2024.
Target price is $164.00 Current Price is $152.66 Difference: $11.34
If LNW meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $163.00, suggesting upside of 7.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 436.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 631.0, implying annual growth of 133.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 24.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 553.40 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 779.0, implying annual growth of 23.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 19.5.
Market Sentiment: 0.5
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: $9.49
Jarden rates ((MFG)) as Neutral (3) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments to FY24 funds under management (FUM) forecasts for asset managers under research coverage.
The Neutral rating is maintained for Magellan Financial and the target rises to $9.20 from $8.40.
Perpetual remains Jarden's preferred asset manger play, reflecting solid acquisition-assisted medium-term EPS momentum at a valuation discount to asset manger peers.
This report was published on April 4, 2024.
Target price is $9.20 Current Price is $9.49 Difference: minus $0.29 (current price is over target).
If MFG 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 $8.98, suggesting downside of -6.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 60.30 cents and EPS of 93.60 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 10.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 90.0, implying annual growth of -10.0%.
Current consensus DPS estimate is 60.3, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 50.20 cents and EPS of 76.20 cents.
At the last closing share price the estimated dividend yield is 5.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 69.2, implying annual growth of -23.1%.
Current consensus DPS estimate is 58.0, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 13.8.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MPL MEDIBANK PRIVATE LIMITED
Insurance – Overnight Price: $3.69
Jarden rates ((MPL)) as Neutral (3) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
The target for private health insurer Medibank Private rises to $3.80 from $3.75 and the Neutral rating is unchanged.
This report was published on April 4, 2024.
Target price is $3.80 Current Price is $3.69 Difference: $0.11
If MPL meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.81, suggesting upside of 2.1%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 15.80 cents and EPS of 23.10 cents.
At the last closing share price the estimated dividend yield is 4.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.1, implying annual growth of 8.3%.
Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 18.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 16.90 cents and EPS of 21.20 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.2, implying annual growth of 5.5%.
Current consensus DPS estimate is 16.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 17.6.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NHF NIB HOLDINGS LIMITED
Insurance – Overnight Price: $7.69
Jarden rates ((NHF)) as Neutral (3) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
The target for private health insurer nib Holdings rises to $8.00 from $7.75 and the Neutral rating is unchanged.
This report was published on April 4, 2024.
Target price is $8.00 Current Price is $7.69 Difference: $0.31
If NHF meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $8.07, suggesting upside of 4.6%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 31.00 cents and EPS of 43.50 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 17.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 46.5, implying annual growth of 12.3%.
Current consensus DPS estimate is 31.4, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 30.00 cents and EPS of 45.50 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 16.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.4, implying annual growth of 4.1%.
Current consensus DPS estimate is 32.1, implying a prospective dividend yield of 4.2%.
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
NWL NETWEALTH GROUP LIMITED
Wealth Management & Investments – Overnight Price: $20.16
Jarden rates ((NWL)) as Underweight (4) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments (3% on average) to FY24 funds under management (FUM) forecasts for wealth managers under research coverage.
The broker maintains an Underweight rating for Netwealth Group, but raises the target to $17 from $15.55.
As Netwealth is a pure-play platform provider, the broker sees greater potential upside due to stronger leverage into FY25 compared to Hub24 and AMP where non-platform earnings dilute some of the benefits.
The broker prefers both Challenger and Insignia Financial in the space.
This report was published on April 4, 2024.
Target price is $17.00 Current Price is $20.16 Difference: minus $3.16 (current price is over target).
If NWL 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 $18.02, suggesting downside of -11.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 31.00 cents and EPS of 35.60 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 34.4, implying annual growth of 24.9%.
Current consensus DPS estimate is 29.1, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 59.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 38.80 cents and EPS of 44.60 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 45.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.0, implying annual growth of 25.0%.
Current consensus DPS estimate is 36.4, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 47.2.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ORA ORORA LIMITED
Paper & Packaging – Overnight Price: $2.21
Goldman Sachs rates ((ORA)) as Buy (1) –
Management at Orora has lowered legacy earnings (EBIT) guidance for FY24 to $307-317m, thereby missing forecasts by the broker and consensus by -7% and -6%, respectively.
While downside to Saverglass earnings was anticipated (guidance was also lowered), North American margin pressure disappointed Goldman Sachs.
The Buy rating is maintained. The target is reduced to $3.00 from $3.40 after the broker cuts its FY24 and FY25 EBIT forecasts by -8% and -12%, respectively. Around 45% of the changes pertain to North American margins and 33% is associated with Saverglass.
This report was published on April 3, 2024.
Target price is $3.00 Current Price is $2.21 Difference: $0.79
If ORA meets the Goldman Sachs target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 23.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 12.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.9, implying annual growth of -17.5%.
Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 13.1.
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 5.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.9, implying annual growth of 5.9%.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 12.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((ORA)) as Overweight (2) –
Jarden lowers its target for Orora to $2.50 from $3.20 following lowered FY24 earnings guidance by management. It's felt the most concerning element of the downgrade related to the North Americas segment of the 'core business' (excluding Saverglass).
The broker is wary of the outlook for the division into FY25, especially as the FY24 underlying EBIT guidance of US$102-107m missed the analysts' forecast by -9%.
There was no improvement in weak volumes at Saverglass, which Jarden believes consensus was expecting. Management attributed the weakness to industry destocking trends.
Jarden maintains an Overweight recommendation.
This report was published on April 3, 2024.
Target price is $2.50 Current Price is $2.21 Difference: $0.29
If ORA meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 23.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 10.30 cents and EPS of 16.20 cents.
At the last closing share price the estimated dividend yield is 4.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.9, implying annual growth of -17.5%.
Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 13.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 11.10 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 5.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.9, implying annual growth of 5.9%.
Current consensus DPS estimate is 11.5, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 12.4.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PER PERCHERON THERAPEUTICS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.08
Taylor Collison rates ((PER)) as Outperform (2) –
Percheron Therapeutics has announced that 34 out of a total target of 45 patients have commenced treatment in its randomised Phase IIb trial of lead drug ATL1102 in non-ambulant patients with Duchenne muscular dystrophy (DMD).
Back in early-March, the broker had suggested Percheron was on track to report topline data from its randomised Phase IIb trial of lead drug ATL1102 in non-ambulant patients with Duchenne muscular dystrophy (DMD) around the end of 2024.
Sufficiently positive results could support an application for marketing approval of ATL1102, explained the analyst at the time.
The Outperform rating and 15c target are maintained.
This report was published on April 4, 2024.
Target price is $0.15 Current Price is $0.08 Difference: $0.067
If PER meets the Taylor Collison target it will return approximately 81% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Taylor Collison forecasts a full year FY24 EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.93.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 EPS of 0.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.38.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPT PERPETUAL LIMITED
Wealth Management & Investments – Overnight Price: $24.91
Jarden rates ((PPT)) as Overweight (2) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments to FY24 funds under management (FUM) forecasts for asset managers under research coverage.
Perpetual remains Jarden's preferred asset manger play, reflecting solid acquisition-assisted medium-term EPS momentum at a valuation discount to asset manger peers.
The Overweight rating is unchanged and the target rises to $28.10 from $26.90.
This report was published on April 4, 2024.
Target price is $28.10 Current Price is $24.91 Difference: $3.19
If PPT meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $26.69, suggesting upside of 6.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 139.60 cents and EPS of 181.20 cents.
At the last closing share price the estimated dividend yield is 5.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 180.8, implying annual growth of 146.9%.
Current consensus DPS estimate is 131.0, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 13.9.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 162.60 cents and EPS of 210.50 cents.
At the last closing share price the estimated dividend yield is 6.53%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 203.9, implying annual growth of 12.8%.
Current consensus DPS estimate is 144.4, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.3.
Market Sentiment: 0.4
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: $1.18
Jarden rates ((PTM)) as Underweight (4) –
After a second consecutive quarter of outsized returns on global equity markets, Jarden makes strong positive adjustments to FY24 funds under management (FUM) forecasts for asset managers under research coverage.
The Underweight rating and $1.15 target for Platinum Asset Management are maintained.
Perpetual remains Jarden's preferred asset manger play, reflecting solid acquisition-assisted medium-term EPS momentum at a valuation discount to asset manger peers.
This report was published on April 4, 2024.
Target price is $1.15 Current Price is $1.18 Difference: minus $0.025 (current price is over target).
If PTM 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 $1.10, suggesting downside of -6.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 10.60 cents and EPS of 9.70 cents.
At the last closing share price the estimated dividend yield is 9.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.2, implying annual growth of -20.6%.
Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 9.8%.
Current consensus EPS estimate suggests the PER is 10.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.30 cents and EPS of 8.50 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 13.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.9, implying annual growth of -11.6%.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 7.8%.
Current consensus EPS estimate suggests the PER is 11.9.
Market Sentiment: -0.2
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: $17.98
Goldman Sachs rates ((QBE)) as Buy (1) –
Lloyd's of London is expecting to benefit from a market outlook for the coming year that is supportive of gross written premium and profitability growth, with the company targeting a combined ratio of 90-95%.
Several of the Lloyd's syndicates are a part of QBE International, with that entity targeting a combined ratio of 89.5%.
Goldman Sachs points out while Lloyd's achieved strong gross written premium growth over FY23, it did slow into the new financial year.
The Buy rating and target price of $18.65 are retained.
This report was published on April 2, 2024.
Target price is $18.65 Current Price is $17.98 Difference: $0.67
If QBE meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $17.96, suggesting downside of -0.6%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 62.00 cents and EPS of 185.55 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 9.69.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 177.4, implying annual growth of N/A.
Current consensus DPS estimate is 86.5, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 10.2.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 61.00 cents and EPS of 184.03 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 185.2, implying annual growth of 4.4%.
Current consensus DPS estimate is 90.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 9.8.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((QBE)) as Buy (1) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
The target for QBE Insurance rises to $20.75 from $19.10.
This report was published on April 4, 2024.
Target price is $20.75 Current Price is $17.98 Difference: $2.77
If QBE meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $17.96, suggesting downside of -0.6%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 95.00 cents and EPS of 186.46 cents.
At the last closing share price the estimated dividend yield is 5.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 177.4, implying annual growth of N/A.
Current consensus DPS estimate is 86.5, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 10.2.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 94.00 cents and EPS of 184.49 cents.
At the last closing share price the estimated dividend yield is 5.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 185.2, implying annual growth of 4.4%.
Current consensus DPS estimate is 90.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 9.8.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RFG RETAIL FOOD GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $0.07
Petra Capital rates ((RFG)) as Buy (1) –
With Retail Food's guidance implying year-on-year earnings growth of 11-26%, Petra Capital has pointed out there are a range of smaller opportunities underpinning this growth, combining to deliver "meaningful underlying business momentum and improving cash generation."
The broker considers outlet numbers the most fundamental of the company's growth drivers, and notes all core brands, excluding Brumby's, delivered positive net outlet growth over the first half, expected to increase over the second half.
Further, new outlet average weekly sales have exceeded sales of closed outlets by 22%.
The Buy rating is retained and the target price decreases to 10.5 cents from 11 cents.
This report was published on April 5, 2024.
Target price is $0.11 Current Price is $0.07 Difference: $0.03
If RFG meets the Petra Capital target it will return approximately 40% (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 0.00 cents and EPS of 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.50.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.30 cents and EPS of 0.70 cents.
At the last closing share price the estimated dividend yield is 4.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.71.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RHC RAMSAY HEALTH CARE LIMITED
Healthcare services – Overnight Price: $54.01
Jarden rates ((RHC)) as Neutral (3) –
Following unofficial comments, Jarden suggests the French government is relying on private sector volume growth to achieve operating leverage to help offset inflationary pressures.
The Health Minister indicated in a press report on March 27 tariff increases for the 2024/25 year would be 4.3% for the public and not-for-profit hospital sector and 0.3% for the private hospital sector. The 0.3% increase follows a 5.4% tariff increase in the previous year.
Jarden highlights the public hospital sector in France remains protected, despite its inefficiencies. This sector enjoys tariffs around 25% more than in the private sector for exactly the same procedure, while commanding 75-80% of the volume.
The broker makes no earnings changes for Ramsay Health Care based on the announcement. The analyst still expects only limited additional funding for Ramsay Sante in France.
The Neutral rating and $63.43 target are maintained.
This report was published on April 3, 2024.
Target price is $63.43 Current Price is $54.01 Difference: $9.42
If RHC meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $58.60, suggesting upside of 8.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 82.00 cents and EPS of 145.40 cents.
At the last closing share price the estimated dividend yield is 1.52%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 131.4, implying annual growth of 5.0%.
Current consensus DPS estimate is 76.4, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 41.2.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 100.00 cents and EPS of 220.20 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 206.3, implying annual growth of 57.0%.
Current consensus DPS estimate is 122.8, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 26.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SDF STEADFAST GROUP LIMITED
Insurance – Overnight Price: $5.66
Jarden rates ((SDF)) as Neutral (3) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
In the broker category, the $6.10 target and Neutral rating are maintained for Steadfast Group.
This report was published on April 4, 2024.
Target price is $6.10 Current Price is $5.66 Difference: $0.44
If SDF meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.38, suggesting upside of 12.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 18.20 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 3.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of 43.0%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 20.10 cents and EPS of 29.30 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of 6.8%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 20.2.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SUN SUNCORP GROUP LIMITED
Insurance – Overnight Price: $16.25
Goldman Sachs rates ((SUN)) as Buy (1) –
Suncorp Group has announced the sale of its NZ life business for $410m NZD, with an upfront component of $250m NZD and the remainder paid out 18 months post completion. The transaction is subject to NZ regulatory approvals and is expected to complete within nine months.
The sale is consistent with Suncorp’s stated strategy of simplifying its business and focusing on its core general insurance business, Goldman Sachs notes, and should further support the insurer’s excess capital position, in addition to the pending bank sale proceeds.
Buy and $16.25 target retained.
This report was published on April 4, 2024.
Target price is $16.25 Current Price is $16.25 Difference: $0
If SUN meets the Goldman Sachs target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $16.38, suggesting upside of 0.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 77.00 cents and EPS of 106.00 cents.
At the last closing share price the estimated dividend yield is 4.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 105.7, implying annual growth of 16.3%.
Current consensus DPS estimate is 73.8, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 82.00 cents and EPS of 114.00 cents.
At the last closing share price the estimated dividend yield is 5.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 107.5, implying annual growth of 1.7%.
Current consensus DPS estimate is 88.2, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((SUN)) as Overweight (2) –
Global equity markets have posted a second consecutive quarter of outsized returns, underpinning positive March quarter mark-to-market investment gains across Jarden's insurance coverage universe.
The broker suggests general insurer earnings should be further supported by CAT budget beats over the quarter, particularly for the domestic general insurers, which are now past their peak exposure period.
Overall, Jarden prefer general insurer exposures over private health insurers and brokers, with Buy-rated QBE Insurance the top pick.
The target for Suncorp Group (Overweight) remains at $16.80.
This report was published on April 4, 2024.
Target price is $16.80 Current Price is $16.25 Difference: $0.55
If SUN meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $16.38, 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 82.00 cents and EPS of 111.50 cents.
At the last closing share price the estimated dividend yield is 5.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 105.7, implying annual growth of 16.3%.
Current consensus DPS estimate is 73.8, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 106.50 cents and EPS of 104.30 cents.
At the last closing share price the estimated dividend yield is 6.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 107.5, implying annual growth of 1.7%.
Current consensus DPS estimate is 88.2, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 15.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SYA SAYONA MINING LIMITED
New Battery Elements – Overnight Price: $0.04
Petra Capital rates ((SYA)) as Buy (1) –
Sayona Mining has committed to ramping up North American Lithium over the remainder of 2024 to maximise sales and push through
what looks to have been the trough in spodumene prices, Petra Capital notes.
Sayona had flagged that the NAL Operational Review would focus on production efficiencies and cost savings, and therefore the update was largely as expected.
Spodumene commodity pricing is still improving, Petra notes, and Sayona has now survived through the cycle and is set to benefit from better prices. Buy and 14c target retained.
This report was published on April 5, 2024.
Target price is $0.14 Current Price is $0.04 Difference: $0.099
If SYA meets the Petra Capital target it will return approximately 241% (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 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.86.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.00 cents.
Market Sentiment: 0.0
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: $12.86
Jarden rates ((TWE)) as Overweight (2) –
Jarden upgrades earnings forecasts for Treasury Wine Estates over FY25-27 to reflect a gradual ramp-up in sales to China after Australian wine tariffs were cut to nil, effective March 29 this year.
The decision by China is considered a material positive, but was expected. Longer term, the broker raises its FY30 earnings (EBITS) forecast to around $167m, below the $200m peak achieved pre-tariffs.
In the US, trading remains challenging and the analysts reduce Americas earnings forecasts for FY25 and FY26 by -2% and -5%, respectively, to be conservative on weaker industry demand.
Jarden's Overweight rating is maintained and the target increased to $14.50 from $12.90.
This report was published on April 4, 2024.
Target price is $14.50 Current Price is $12.86 Difference: $1.64
If TWE meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $13.31, suggesting upside of 3.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 EPS of 54.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.6, implying annual growth of 50.7%.
Current consensus DPS estimate is 35.2, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 24.5.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 66.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.7, implying annual growth of 21.1%.
Current consensus DPS estimate is 42.5, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 20.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WGX WESTGOLD RESOURCES LIMITED
Gold & Silver – Overnight Price: $2.28
Petra Capital rates ((WGX)) as Buy (1) –
A disappointing March quarter result form Westgold Resources, says Petra Capital, with production down -12% quarter-on-quarter. The result sees the company revise down full year production guidance by -15,000-20,000 ounces and increase expected costs.
The quarterley result, notes the broker, came off the back of a pre-reported production pause at Paddy's Flat, as well as the operational impact of heavy rain.
The Buy rating is retained and the target price decreases to $2.33 from $2.42.
This report was published on April 5, 2024.
Target price is $2.33 Current Price is $2.28 Difference: $0.05
If WGX meets the Petra Capital target it will return approximately 2% (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 3.00 cents and EPS of 7.10 cents.
At the last closing share price the estimated dividend yield is 1.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.11.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 7.00 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.74.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WR1 WINSOME RESOURCES LIMITED
New Battery Elements – Overnight Price: $1.13
Canaccord Genuity rates ((WR1)) as Speculative Buy (1) –
Winsome Resources has signed a six-month option to acquire the Renard diamond mine and associated infrastructure, at a cost of CAD$4m. If exercised, the option allows Winsome Resources to purchase the assets for CAD$52m.
As per Canaccord Genuity, the option can be extended by a further five months for an additional CAD$4m. The company will use the option period to undertake technical and economic due diligence.
With Renard located 60 kilometres south of the company's Adina lithium asset, it offers an opportunity for Winsome Resources to use Renard as a processing centre for the development of lithium.
The Speculative Buy rating and target price of $1.90 are retained.
This report was published on April 4, 2024.
Target price is $1.90 Current Price is $1.13 Difference: $0.77
If WR1 meets the Canaccord Genuity target it will return approximately 68% (excluding dividends, fees and charges).
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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