Australian Broker Call *Extra* Edition – Apr 15, 2024

This story features BEACH ENERGY LIMITED, and other companies. For more info SHARE ANALYSIS: BPT

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)

BPT   BXB   CNI   CPU   DMP   ELD   IAG   MAC   NWL   QBE   SFR   SUN  

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.63

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

Wilsons flags the potential risk to operations after recent flooding around Beach Energy's exploration and production interests in the Cooper basin, but notes the difficulty of gauging the impact at this stage. 

Vintage Energy ((VEN)) has reported flooding at its Cooper Basin acreage, which will likely impact operations several weeks.

The impact to production for Beach Energy is most likely minor, and the broker intends to monitor the situation as it evolves. More clarity is expected at quarterly results on April 24.

The Overweight rating and $1.87 target are unchanged.

This report was published on April 12, 2024.

Target price is $1.87 Current Price is $1.63 Difference: $0.24
If BPT meets the Wilsons target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $1.95, suggesting upside of 19.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 5.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.4, implying annual growth of -6.7%.
Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 9.9.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 8.00 cents and EPS of 26.10 cents.
At the last closing share price the estimated dividend yield is 4.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.25.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.9, implying annual growth of 51.8%.
Current consensus DPS estimate is 7.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 6.5.

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

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $15.77

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

Market concern about pricing growth for Brambles turning negative continues, creating an unfounded overhang on the stock according to Jarden.

Despite Brambles reporting 11% price and mix growth over the first half, the broker notes concern has steadily grown since the result.

The broker points out the current pricing cycle is markedly different from FY10, when Brambles last reported negative pricing growth following a two year economic crisis. The broker anticipates pricing growth will slow, but remain positive.

The Overweight rating and target price of $15.70 are retained.

This report was published on April 11, 2024.

Target price is $15.70 Current Price is $15.77 Difference: minus $0.07 (current price is over target).
If BXB meets the Jarden target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.44, suggesting downside of -2.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 80.94 cents and EPS of 81.85 cents.
At the last closing share price the estimated dividend yield is 5.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 90.8, implying annual growth of N/A.
Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 17.4.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 85.50 cents and EPS of 90.37 cents.
At the last closing share price the estimated dividend yield is 5.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 101.4, implying annual growth of 11.7%.
Current consensus DPS estimate is 55.0, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 15.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CNI    CENTURIA CAPITAL GROUP

Diversified Financials – Overnight Price: $1.75

Moelis rates ((CNI)) as Buy (1) –

Centuria Capital has shelled out -$57m (half in cash and half in share scrip at $1.775/share) to acquire 30% of Bass Capital, bringing total ownership to 80%.

The transaction implies to the broker management's high conviction in growth prospects for Bass Capital, which has increased assets under management (AUM) to $1.7bn from $0.3bn since April 2021.

Management also reaffirmed FY24 guidance for OEPS of 11.5-12.0cps and DPS of 10.0cps.

The Buy rating is maintained and the target creeps up to $1.95 from $1.94.

This report was published on April 11, 2024.

Target price is $1.94 Current Price is $1.75 Difference: $0.195
If CNI meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $1.69, suggesting downside of -3.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 10.00 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 5.73%.
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 11.8, implying annual growth of -11.1%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 14.8.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 10.50 cents and EPS of 12.90 cents.
At the last closing share price the estimated dividend yield is 6.02%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.5, implying annual growth of 5.9%.
Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 14.0.

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

CPU    COMPUTERSHARE LIMITED

Diversified Financials – Overnight Price: $28.24

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

Interest income headwinds to Computershare's group earnings heading into FY25 have moderated to -3% from -9%, as expectations of global cash rate cuts are pushed out.

Despite these likely delays to rate cuts, notes Jarden, activity from equity and capital markets has shown strong improvement year-to-date.

The broker lifts its earnings per share outlook for the company by 4% in FY25, finding Computershare well positioned to sustain earnings growth at similar levels over the medium term.

The Overweight rating is retained and the target price increases to $29.20 from $27.90.

This report was published on April 11, 2024.

Target price is $29.20 Current Price is $28.24 Difference: $0.96
If CPU meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $28.83, suggesting upside of 2.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 EPS of 177.85 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 180.4, implying annual growth of N/A.
Current consensus DPS estimate is 83.8, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 15.7.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 188.04 cents.
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 194.5, implying annual growth of 7.8%.
Current consensus DPS estimate is 89.8, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 14.5.

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

DMP    DOMINO'S PIZZA ENTERPRISES LIMITED

Food, Beverages & Tobacco – Overnight Price: $40.17

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

Ahead of Domino's Pizza Enterprises' investor day, Jarden describes overall trends for the global quick service food industry as okay. The broker notes strength in Australia and Germany, and more mixed performance in Japan.

Consistent with the second half trading update from the company, net year-to-date trends are better. The broker anticipates a 3% same store sales growth result over the second half, and a three year compound growth rate of 24% through to FY27.

The Overweight rating and target price of $49.00 are retained.

This report was published on April 11, 2024.

Target price is $49.00 Current Price is $40.17 Difference: $8.83
If DMP meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $50.42, suggesting upside of 25.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 137.00 cents and EPS of 137.50 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 29.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 139.8, implying annual growth of 203.3%.
Current consensus DPS estimate is 108.7, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 28.7.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 192.00 cents and EPS of 191.40 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 20.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 185.9, implying annual growth of 33.0%.
Current consensus DPS estimate is 139.3, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 21.6.

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

ELD    ELDERS LIMITED

Agriculture – Overnight Price: $8.31

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

Elders recently provided guidance for FY24 underlying earnings (EBIT) in the range of $120m-$140m, thereby missing forecasts by consensus and Wilsons for $170m and $162m, respectively.

Management noted price deflation and general margin pressure in agrigultural chemicals.

While the broker still assumes a significant improvement in cash conversion in FY24, the leverage ratio remains near the top end of management's target range, limiting investment (including acquisitions).

The Market Weight rating is unchanged. Despite earnings downgrades, the broker's target rises to $8.33 from from $8.26 due to earnings capitalisation increases.

This report was published on April 12, 2024.

Target price is $8.33 Current Price is $8.31 Difference: $0.02
If ELD meets the Wilsons target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $8.81, suggesting upside of 6.0%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 25.00 cents and EPS of 46.00 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 45.4, implying annual growth of -29.5%.
Current consensus DPS estimate is 28.5, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 18.3.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 36.00 cents and EPS of 59.10 cents.
At the last closing share price the estimated dividend yield is 4.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.9, implying annual growth of 40.7%.
Current consensus DPS estimate is 41.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 13.0.

Market Sentiment: 0.8
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: $6.45

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

Goldman Sachs adjusts valuations for general insurers under research coverage after marking-to-market and also allowing for any company-specific outlook changes.

A Neutral rating is maintained for Insurance Australia Group, due partly to the broker's concerns on valuation, and any volume loss in response to insurance rate increases.

The target rises to $6.30 from $6.00.

This report was published on April 9, 2024.

Target price is $6.30 Current Price is $6.45 Difference: minus $0.15 (current price is over target).
If IAG meets the Goldman Sachs target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.08, suggesting downside of -5.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 24.60 cents and EPS of 35.30 cents.
At the last closing share price the estimated dividend yield is 3.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.27.

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:

Goldman Sachs forecasts a full year FY25 dividend of 25.50 cents and EPS of 36.90 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.48.

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 4.7%.
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

MAC    METALS ACQUISITION LIMITED

Copper – Overnight Price: $21.00

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

Wilsons initiates coverage on Metals Acquisition, which is listed on both the ASX and the NYSE, with an Overweight rating and $25 target price.

The company operates one of Australia’s longest running and highest-grade mines, highlights the broker, and joins a short list of pure play, copper producers in the domestic market after listing on the ASX in February this year.

Total copper production at Metals Acquisition's CSA mine, acquired from Glencore in 2023, is expected to grow to more than 50ktpa. As the mine infrastructure is largely already established, the analysts expect relatively little capex requirements.

Management points out the mine lacked attention, as part of the larger Glencore portfolio, and experienced a deterioration in productivity, production and cost performance in recent years.

This report was published on April 12, 2024.

Target price is $25.00 Current Price is $21.00 Difference: $4
If MAC meets the Wilsons target it will return approximately 19% (excluding dividends, fees and charges).
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 77.59 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.07.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 125.21 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.77.

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: $20.14

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

Netwealth Group recorded "solid" 3Q net flows, according to Jarden, in line with the consensus expectation. 

Flows continue their steady improvement through FY24, supported by a more buoyant equity market backdrop and new product initiatives assisting funds under administration (FUA) retention, explains the broker.

Growth prospects remain strong, in the analysts' view, thanks to strong new account growth in Q3. Management also flagged several upcoming new large transitions for Q4.

The Underweight rating and $17 target for Netwealth Group are maintained.

This report was published on April 12, 2024.

Target price is $17.00 Current Price is $20.14 Difference: minus $3.14 (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 $18.46, suggesting downside of -8.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 30.50 cents and EPS of 35.10 cents.
At the last closing share price the estimated dividend yield is 1.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 57.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.7, implying annual growth of 26.0%.
Current consensus DPS estimate is 29.3, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 58.0.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 38.70 cents and EPS of 44.40 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 45.36.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.6, implying annual growth of 25.6%.
Current consensus DPS estimate is 37.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 46.2.

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: $17.81

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

Goldman Sachs adjusts valuations for general insurers under research coverage after marking-to-market and also allowing for any company-specific outlook changes.

The broker highlights QBE Insurance has the strongest exposure to the commercial rate cycle and achieved rate increases continue to be strong and ahead of cost inflation.

The target rises to $20.58 from $18.65. 

This report was published on April 9, 2024.

Target price is $20.58 Current Price is $17.81 Difference: $2.77
If QBE meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $17.96, suggesting upside of 0.8%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 89.70 cents and EPS of 183.63 cents.
At the last closing share price the estimated dividend yield is 5.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 179.8, implying annual growth of N/A.
Current consensus DPS estimate is 86.5, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 9.9.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 89.80 cents and EPS of 184.39 cents.
At the last closing share price the estimated dividend yield is 5.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 187.6, implying annual growth of 4.3%.
Current consensus DPS estimate is 90.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 9.5.

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

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $9.07

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

Wilsons increases copper price forecasts as follows: to US$4.01/lb from US$3.83/lb for 2024; to US$4.18/lb from US$4.02/lb in 2025; and the long-term price forecast rises to US$4.00/lb from US$3.70/lb.

Accordingly, the broker's earnings estimates for Sandfire Resources increase and the target lifts to $9.90 from $8.45. Strong near-term earnings growth is expected as Motheo (Botswana) ramps-up to full production.

The analysts also expect progressive improvements and reserve additions at the Matsa operations in Spain.

The Overweight rating is maintained.

This report was published on April 12, 2024.

Target price is $9.90 Current Price is $9.07 Difference: $0.83
If SFR meets the Wilsons target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $7.88, suggesting downside of -13.1%(ex-dividends)
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 1.67 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 541.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -4.3, implying annual growth of N/A.
Current consensus DPS estimate is 1.5, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 47.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.4, implying annual growth of N/A.
Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 17.6.

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

SUN    SUNCORP GROUP LIMITED

Insurance – Overnight Price: $16.23

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

Goldman Sachs adjusts valuations for general insurers under research coverage after marking-to-market and also allowing for any company-specific outlook changes.

A Buy rating is maintained for Suncorp Group. The broker believes the strong rate momentum the group is achieving should offset any volume pressures.

The target rises to $17.54 from $16.25.

This report was published on April 9, 2024.

Target price is $17.54 Current Price is $16.23 Difference: $1.31
If SUN meets the Goldman Sachs target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $16.61, suggesting upside of 2.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 78.00 cents and EPS of 107.00 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.0, implying annual growth of 16.6%.
Current consensus DPS estimate is 74.7, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 15.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 83.00 cents and EPS of 115.00 cents.
At the last closing share price the estimated dividend yield is 5.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 108.7, implying annual growth of 2.5%.
Current consensus DPS estimate is 89.1, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.9.

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

---

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.

Click to view our Glossary of Financial Terms