Daily Market Reports | Apr 30 2024
This story features 29METALS LIMITED, and other companies. For more info SHARE ANALYSIS: 29M
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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)
29M AIZ ALC AMA ANZ BGL BOE BXB CBA CGF CMM DSE EVS GDG GLN GMD GOR (2) ILU (2) KAR KCN LIC MAC MDR NAB OBM PLS (3) PLT PMT PPS QOR RED RMS S32 SDV SHV SLR STX WBC WDS
29M 29METALS LIMITED
Copper – Overnight Price: $0.53
Jarden rates ((29M)) as Underweight (4) –
29Metals has gained access to an additional $93m in liquidity, without diluting existing shareholders notes Jarden. The broker explains insurers have committed to a further $16m progress payment, while the company has secured a US$50m offtake finance facility with Glencore.
The broker considers this to provide breathing room for 29Metals, having previously forecast the company's cash balance would be exhausted by the end of the calendar year.
Jarden now assumes 29Metals will finish the calendar year with a cash balance of $74m.
The Underweight rating is retained and the target price decreases to 28 cents from 30 cents.
This report was published on April 23, 2024.
Target price is $0.28 Current Price is $0.53 Difference: minus $0.25 (current price is over target).
If 29M meets the Jarden target it will return approximately minus 47% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $0.42, suggesting downside of -20.8%(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 minus 9.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -8.6, 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 N/A.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.2, 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 265.0.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AIZ AIR NEW ZEALAND LIMITED
Transportation & Logistics – Overnight Price: $0.49
Jarden rates ((AIZ)) as Neutral (3) –
Air New Zealand has updated full year guidance, downgraded its profit before tax expectations to NZ$190-230m.
As per Jarden, new guidance implies a -NZ$25m second half profit loss at the midpoint. Further, the new figures suggest a significantly weaker operating result prior to the benefit of unredeemed covid credits, which will account for a NZ$30m benefit.
The airline suggested the downgrade was driven by softening revenue conditions over the fourth quarter.
The Neutral rating is retained and the target price decreases to NZ60 cents from NZ63 cents.
This report was published on April 23, 2024.
Current Price is $0.49. Target price not assessed.
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 2.78 cents and EPS of 2.59 cents.
At the last closing share price the estimated dividend yield is 5.61%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.10.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 1.39 cents and EPS of 2.59 cents.
At the last closing share price the estimated dividend yield is 2.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.10.
This company reports in NZD. 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
ALC ALCIDION GROUP LIMITED
Healthcare services – Overnight Price: $0.06
Canaccord Genuity rates ((ALC)) as Buy (1) –
Alcidion Group's quarterly result was largely as expected, says Canaccord Genuity. The company added $6m in total contracted value, with $2.9m of that expected to be realised in FY24.
The company expects new contracts to come to tender by the end of the calendar year, but Canaccord Genuity notes ongoing risk around timing.
The broker does point out delays are not specific to Alcidion Group, with slower contract appointment and implementations negatively impacting most digital health companies targeting NHS.
The Buy rating and target price of 10 cents are retained.
This report was published on April 22, 2024.
Target price is $0.10 Current Price is $0.06 Difference: $0.045
If ALC meets the Canaccord Genuity target it will return approximately 82% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.75.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.50.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AMA AMA GROUP LIMITED
Automobiles & Components – Overnight Price: $0.07
Canaccord Genuity rates ((AMA)) as Buy (1) –
AMA Group has reported material improvement on its previous quarter, says Canaccord Genuity, with the company releasing unaudited third quarter earnings of $11.1m.
Revenues of $226.2m were flat quarter-on-quarter, but consistent with the broker's expectations of seasonality. The broker points out the company now moves into its historically stronger June quarter.
Full year guidance was retained. The Buy rating and target price of 14 cents are retained.
This report was published on April 23, 2024.
Target price is $0.14 Current Price is $0.07 Difference: $0.075
If AMA meets the Canaccord Genuity target it will return approximately 115% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 7.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.93.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 67.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 0.10.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks – Overnight Price: $28.07
Jarden rates ((ANZ)) as Neutral (3) –
Jarden anticipates a resilient but muted half for the four bank majors, expecting sector profits to decline -1% half-on-half to $15.6bn as margin erosion and rising costs continue to impact.
While signs of moderating margin pressure will remain a key consideration of the reporting season, the broker is also interested in indications of further returns of excess provisions. Jarden considers it likely each major will announce new capital returns of $1.0-1.5bn.
The broker forecasts a flat half-on-half pre-provision operating profit from ANZ Bank, and a small decline in profit to $3.54bn amid normalising bad debts.
The Neutral rating is retained and the target price increases to $28.80 from $26.70.
This report was published on April 23, 2024.
Target price is $28.80 Current Price is $28.07 Difference: $0.73
If ANZ meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $27.98, suggesting downside of -0.5%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 162.00 cents and EPS of 237.00 cents.
At the last closing share price the estimated dividend yield is 5.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 221.7, implying annual growth of -6.4%.
Current consensus DPS estimate is 162.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 163.00 cents and EPS of 241.00 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 223.2, implying annual growth of 0.7%.
Current consensus DPS estimate is 163.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver – Overnight Price: $1.75
Canaccord Genuity rates ((BGL)) as Speculative Buy (1) –
An in line result from Bellevue Gold, says Canaccord Genuity, with the company reporting production of 37,000 ounces and sales of 33,000 ounces at $2,998 per ounce.
This saw the company generate normalised free cash flow of $20m over the quarter, and revenue of $99m.
The company maintained second half guidance, implying it expects June quarter production of 38,000-48,000 ounces, and Canaccord Genuity remains at the top end of this guidance range.
The Speculative Buy rating is retained and the target price decreases to $2.20 from $2.25.
This report was published on April 22, 2024.
Target price is $2.20 Current Price is $1.75 Difference: $0.45
If BGL meets the Canaccord Genuity target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 9.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.44.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 29.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.03.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BOE BOSS ENERGY LIMITED
Uranium – Overnight Price: $4.78
Canaccord Genuity rates ((BOE)) as Speculative Buy (1) –
Boss Energy has produced its first drum of U3O8 from Honeymoon and management has advised the project is already exceeding its feasibility study forecasts.
In new and positive news for Canaccord Genuity, recoveries of loaded resin in the IX column producing concentrated high-grade eluate in excess of the study estimates.
Given the change to IX columns from solvent extraction, the recovery performance will likely be viewed by the market as a major de-risking event, suggests the broker.
The Speculative Buy rating and $6.00 target are retained.
This report was published on April 22, 2024.
Target price is $6.00 Current Price is $4.78 Difference: $1.22
If BOE meets the Canaccord Genuity target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $5.43, suggesting upside of 11.6%(ex-dividends)
Forecast for FY24:
Current consensus EPS estimate is 9.8, implying annual growth of 175.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 49.6.
Forecast for FY25:
Current consensus EPS estimate is 22.2, implying annual growth of 126.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 21.9.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics – Overnight Price: $14.49
Jarden rates ((BXB)) as Overweight (2) –
With lumber cost declines appearing to moderate, pallet pricing could be stabilising says Jarden. According the broker, while the spread between pallet costs and pricing has narrowed, it remains supportive of earnings margin expansion for Brambles.
Pallet construction costs, points out the broker, have declined just -8.7% in the second half to date, compared to a -16.9% decline over the first half.
Simultaneously, pallet prices have fallen -12.3% over the second half, compared to -12.8% in the first half, and just -11.5% during March. The broker warns higher labour, fuel and insurance costs remain key cost considerations.
The Overweight rating and target price of $15.70 are retained.
This report was published on April 22, 2024.
Target price is $15.70 Current Price is $14.49 Difference: $1.21
If BXB meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $15.44, 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 81.02 cents and EPS of 81.94 cents.
At the last closing share price the estimated dividend yield is 5.59%.
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 89.5, implying annual growth of N/A.
Current consensus DPS estimate is 48.9, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 16.2.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 85.59 cents and EPS of 90.47 cents.
At the last closing share price the estimated dividend yield is 5.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 100.2, implying annual growth of 12.0%.
Current consensus DPS estimate is 55.7, implying a prospective dividend yield of 3.8%.
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: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CBA COMMONWEALTH BANK OF AUSTRALIA
Banks – Overnight Price: $113.84
Jarden rates ((CBA)) as Underweight (4) –
Jarden anticipates a resilient but muted half for the four bank majors, expecting sector profits to decline -1% half-on-half to $15.6bn as margin erosion and rising costs continue to impact.
While signs of moderating margin pressure will remain a key consideration of the reporting season, the broker is also interested in indications of further returns of excess provisions. Jarden considers it likely each major will announce new capital returns of $1.0-1.5bn.
CommBank is currently the broker's least preferred sector pick.
The Underweight rating is retained and the target price increases to $102.00 from $99.00.
This report was published on April 23, 2024.
Target price is $102.00 Current Price is $113.84 Difference: minus $11.84 (current price is over target).
If CBA meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $93.15, suggesting downside of -18.4%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 452.00 cents and EPS of 584.00 cents.
At the last closing share price the estimated dividend yield is 3.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 581.6, implying annual growth of -3.7%.
Current consensus DPS estimate is 457.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 19.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 453.00 cents and EPS of 577.00 cents.
At the last closing share price the estimated dividend yield is 3.98%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 573.8, implying annual growth of -1.3%.
Current consensus DPS estimate is 463.0, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 19.9.
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: $6.77
Goldman Sachs rates ((CGF)) as Buy (1) –
As part of Challenger's 3Q update, management upgraded FY24 guidance for normalised net profit before tax to the top half of the $555-605m guidance range.
Goldman Sachs attributes the upgrade partly to an improved contribution from funds management and improving cost of equity (COE) margins.
Annuity sales in the 3Q fell by -21% on the previous corresponding period offset partially by a 37% increase in lifetime annuity sales, notes the broker.
Buy and $7.50 target retained.
This report was published on April 19, 2024.
Target price is $7.50 Current Price is $6.77 Difference: $0.73
If CGF meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $7.25, suggesting upside of 7.4%(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 61.00 cents.
At the last closing share price the estimated dividend yield is 3.69%.
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 47.4, implying annual growth of 12.5%.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 14.2.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 26.00 cents and EPS of 66.00 cents.
At the last closing share price the estimated dividend yield is 3.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 59.2, implying annual growth of 24.9%.
Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CMM CAPRICORN METALS LIMITED
Gold & Silver – Overnight Price: $5.04
Jarden rates ((CMM)) as Overweight (2) –
Capricorn Metals has announced nearly three years of additional reserve life to its Mount Gibson gold project, with drilling having added 380,000 ounces and bringing the ore reserve to 1,830 ounces.
As per Jarden, the mine life increases appear to come with only a minor increase to pre-production capital expenditure, with the estimate increasing $7m to -$86m, while plant construction capital expenditure is maintained at -$260m.
The broker also notes recent drilling results have suggested potential to capture more inventory by driving pits marginally deeper.
The Overweight rating is retained and the target price increases to $5.35 from $5.07.
This report was published on April 22, 2024.
Target price is $5.35 Current Price is $5.04 Difference: $0.31
If CMM meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
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 26.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.81.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 24.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.49.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DSE DROPSUITE LIMITED
Cloud services – Overnight Price: $0.27
Canaccord Genuity rates ((DSE)) as Buy (1) –
Dropsuite continued to grow annual recurring revenue in its first quarter, setting a new incremental quarterly add with its $3.3m result in the period.
This, notes Canaccord Genuity, amounts to a 9% quarter-on-quarter increase and 33% year-on-year increase to annual recurring revenue of $37.6m.
The broker explains recurring revenue growth was spurred on by 22% user add growth, with net additions totalling 73,000.This proved somewhat lighter than the broker had anticipated, but Canaccord Genuity considers Dropsuite to have exited the quarter strongly.
The Buy rating and target price of 40 cents are retained.
This report was published on April 22, 2024.
Target price is $0.40 Current Price is $0.27 Difference: $0.13
If DSE meets the Canaccord Genuity target it will return approximately 48% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 135.00.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 90.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
EVS ENVIROSUITE LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.05
Moelis rates ((EVS)) as Buy (1) –
Envirosuite Limited reported a Q3 net increase in Annual Recurring Revenue (ARR) of $2.5m, with Aviation and Industrial (including Water) segments contributing $0.9m and $1.6m respectively.
Moelis notes the total ARR now stands at $62.6m, marking an 11.4% increase year-over-year. Following a restructure in the Water segment, the company expects to save about -$2.5m annually.
Due to lower than anticipated non-recurring revenue, FY24-26 sales forecasts have been marginally adjusted downward. Buy rating retained with a target price of 9c.
This report was published on April 26, 2024.
Target price is $0.09 Current Price is $0.05 Difference: $0.037
If EVS meets the Moelis target it will return approximately 70% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis 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 8.83.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 53.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GDG GENERATION DEVELOPMENT GROUP LIMITED
Wealth Management & Investments – Overnight Price: $2.31
Petra Capital rates ((GDG)) as Buy (1) –
It is Petra Capital's view Generation Development Group has released promising Q3 results, maintaining a positive trajectory as anticipated by the broker.
There have been no adjustments to the forecasts or the Buy rating, but the target price has been raised to $2.46 from $2.40. The broker notes Funds Under Management (FUM) increased significantly by 29% to $3.2bn, reflecting a continued strong performance.
Despite Q3 typically being a slower period, there was a 50% increase in sales inflows compared to the prior corresponding period, suggesting a robust end to the year is likely.
This report was published on April 23, 2024.
Target price is $2.46 Current Price is $2.31 Difference: $0.15
If GDG meets the Petra Capital target it will return approximately 6% (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 2.40 cents and EPS of 6.40 cents.
At the last closing share price the estimated dividend yield is 1.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.09.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 2.60 cents and EPS of 9.60 cents.
At the last closing share price the estimated dividend yield is 1.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.06.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GLN GALAN LITHIUM LIMITED
New Battery Elements – Overnight Price: $0.32
Canaccord Genuity rates ((GLN)) as Speculative Buy (1) –
Galan Lithium has signed a commercial agreement with the Catamarca provincial government. The company will pay up to 7% in state royalties and pursue in-country downstream refining capabilities in exchange for support of local sales and exports from Hombre Muerto West.
Canaccord Genuity expects an export permit to allow sales of product to all major lithium markets. and anticipates this could lead to increased competitiveness for the company's product
Galan Lithium appears on track for first production in the first half of FY25, with phase one funding a key potential catalyst.
The Speculative Buy rating and target price of $2.25 are retained.
This report was published on April 23, 2024.
Target price is $2.25 Current Price is $0.32 Difference: $1.935
If GLN meets the Canaccord Genuity target it will return approximately 614% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.50.
Forecast for FY25:
Canaccord Genuity 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
GMD GENESIS MINERALS LIMITED
Gold & Silver – Overnight Price: $1.77
Canaccord Genuity rates ((GMD)) as Buy (1) –
Genesis Minerals produced 30,500 ounces in the March quarter, down -14% quarter-on-quarter, at an all-in sustaining cost of $2,497 per ounce, up 17% quarter-on-quarter.
The production result, a miss to Canaccord Genuity's forecasts, was explained by lower mined tonnes from Gwalia. The project reported total mined ore of 133,000 tonnes, down from 187,000 tonnes in the previous quarter.
The Buy rating and target price of $2.90 are retained.
This report was published on April 22, 2024.
Target price is $2.90 Current Price is $1.77 Difference: $1.13
If GMD meets the Canaccord Genuity target it will return approximately 64% (excluding dividends, fees and charges).
Current consensus price target is $1.98, suggesting upside of 9.7%(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 and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 88.50.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 N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 38.3.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 8.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.13.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.1, implying annual growth of 72.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.2.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GOR GOLD ROAD RESOURCES LIMITED
Gold & Silver – Overnight Price: $1.66
Canaccord Genuity rates ((GOR)) as Buy (1) –
Gold Road Resources pre-reported a rainfall-impacted March quarter result, with production from Gruyere totalling 64,300 ounces at an all-in sustaining cost of $2,194 per ounce.
As per Canaccord Genuity, this represents a -14% quarter-on-quarter production decline and an 11% cost increase. The broker explains weather saw mining operations reduced or suspended during March and early April, and led to the closure of the main supply route.
The broker notes mining and processing operations have progressively resumed. The Buy rating is retained and the target price decreases to $2.05 from $2.10.
This report was published on April 22, 2024.
Target price is $2.05 Current Price is $1.66 Difference: $0.395
If GOR meets the Canaccord Genuity target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $1.93, suggesting upside of 16.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 2.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 1.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, implying annual growth of -2.1%.
Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 4.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 2.42%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.9, implying annual growth of 32.4%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 11.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((GOR)) as Buy (1) –
Having already pre-reported gold production for its first quarter, Gold Road Resources has reiterated that full year production is expected to fall in the lower half of its 300-350,000 ounce guidance range, and all-in sustaining costs at the upper end of range.
The company reported net production of 32,000 ounces and sales of 32,000 ounces, representing a -15% quarter-on-quarter decline amid weather impacts.
These adverse weather impacts, warns Goldman Sachs, are expected to continue to impact on the June quarter.
The Buy rating is retained and the target price decreases to $1.95 from $2.00.
This report was published on April 22, 2024.
Target price is $1.95 Current Price is $1.66 Difference: $0.295
If GOR meets the Goldman Sachs target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $1.93, suggesting upside of 16.0%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 3.40 cents and EPS of 11.20 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 14.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.5, implying annual growth of -2.1%.
Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 15.8.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 3.10 cents and EPS of 13.70 cents.
At the last closing share price the estimated dividend yield is 1.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.9, implying annual growth of 32.4%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 11.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ILU ILUKA RESOURCES LIMITED
Mineral Sands – Overnight Price: $7.59
Canaccord Genuity rates ((ILU)) as Hold (3) –
Canaccord Genuity was left disappointed by Iluka Resources' production performance in the March quarter, with the company reporting mineral sands production of 86,000 tonnes.
The broker explains with the Narngulu plant offline for longer than expected, zircon and rutile production were -34% and -16% below its expectations respectively.
Sales volumes were broadly in line, while positive commentary from the company suggests an expected pick up in volume and realised prices in the June quarter.
The Hold rating is retained and the target price increases to $7.40 from $7.00.
This report was published on April 22, 2024.
Target price is $7.40 Current Price is $7.59 Difference: minus $0.19 (current price is over target).
If ILU meets the Canaccord Genuity target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.84, suggesting upside of 1.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 7.00 cents and EPS of 67.00 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.4, implying annual growth of -44.8%.
Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 17.4.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 86.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 68.1, implying annual growth of 53.4%.
Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((ILU)) as Buy (1) –
A slightly lower than expected March quarter from Iluka Resources, according to Goldman Sachs, with mineral sands sales totalling 106,000 tonnes and achieved prices for zircon and rutile both in line.
The company reported revenue of $268m, representing a -10% miss to the broker's forecast with the result explained by a late shipment of synthetic rutile slipping into early April.
The company suggests a modest price increase and further increases in contracted volumes in the second quarter.
The Buy rating and target price of $9.90 are retained.
This report was published on April 22, 2024.
Target price is $9.90 Current Price is $7.59 Difference: $2.31
If ILU meets the Goldman Sachs target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $7.84, suggesting upside of 1.4%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 25.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 3.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.4, implying annual growth of -44.8%.
Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 17.4.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 39.00 cents and EPS of 54.00 cents.
At the last closing share price the estimated dividend yield is 5.14%.
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 68.1, implying annual growth of 53.4%.
Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
KAR KAROON ENERGY LIMITED
Crude Oil – Overnight Price: $1.91
Jarden rates ((KAR)) as Downgrade to Overweight from Buy (2) –
Karoon Energy has issued a larger-than-anticipated downgrade to FY24 guidance led by ongoing disappointment from Who Dat. Jarden points out the negative news arrived only four months after the acquisition was completed.
The decision to curtail output due to weak pricing does show the lack of control that resides with Karoon Energy, points out the broker. Jarden suggests the loss of confidence that has now occurred will take time to return.
The rating is downgraded to Overweight from Buy and the target price falls to $2.35 from $2.50.
This report was published on April 19, 2024.
Target price is $2.35 Current Price is $1.91 Difference: $0.445
If KAR meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $2.66, suggesting upside of 35.7%(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 27.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 51.2, implying annual growth of N/A.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 3.8.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 24.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.2, implying annual growth of -15.6%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 4.5.
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
KCN KINGSGATE CONSOLIDATED LIMITED
Gold & Silver – Overnight Price: $1.69
Canaccord Genuity rates ((KCN)) as Speculative Buy (1) –
Kingsgate Consolidated has released further positive exploration results from high priority targets at Jorakae and Kumpee. As per Canaccord Genuity, the company reported significant intercepts at both targets, suggesting mineralisation similar to Chatree.
The broker continues to see significant exploration and resource growth potential at Chatree, with gold intercepts suggesting potential length of mine extension.
With the mill one refurbishment now complete, combined processing capacity is in excess of 5m tonnes per annum, and a restart of full scale mining operations should take place in coming weeks.
The Speculative Buy rating and target price of $3.00 are retained.
This report was published on April 23, 2024.
Target price is $3.00 Current Price is $1.69 Difference: $1.31
If KCN meets the Canaccord Genuity target it will return approximately 78% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LIC LIFESTYLE COMMUNITIES LIMITED
Aged Care & Seniors – Overnight Price: $12.04
Moelis rates ((LIC)) as Buy (1) –
Lifestyle Communities has revised its FY24 settlement guidance downward due to challenging conditions in Victoria, expecting between 290-310 settlements compared to the previously anticipated circa 350.
Management did maintain its medium-term guidance of 1,400-1,700 settlements through FY26. Moelis only initiated coverage in March and has now adjusted its forecasts accordingly, reducing near-term earnings estimates and lowering the target price to $18.90 from $20.00.
Buy rating retained on an ongoing longer-term positive view.
This report was published on April 24, 2024.
Target price is $18.90 Current Price is $12.04 Difference: $6.86
If LIC meets the Moelis target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $15.52, suggesting upside of 28.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 11.10 cents and EPS of 45.70 cents.
At the last closing share price the estimated dividend yield is 0.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.35.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 50.7, implying annual growth of -34.9%.
Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 23.8.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 12.60 cents and EPS of 74.70 cents.
At the last closing share price the estimated dividend yield is 1.05%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 73.7, implying annual growth of 45.4%.
Current consensus DPS estimate is 14.8, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 16.4.
Market Sentiment: 0.5
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 Overweight (1) –
Wilsons had only initiated coverage on Metals Acquisition with an Overweight rating and $25 target price in mid-April.
The company announced a significant 67% increase in resources and reserves at the CSA mine, underpinning an updated 11-year mine plan that nearly doubles the previous life based on reserves alone.
The broker points out, Metals Acquisition now boasts around 500kt of contained copper, with expectations for further increases from additional high-grade resources.
Overweight. Wilsons sees Metals Acquisition as a top pick in the copper sector, expecting substantial exploration success and operational expansion. Target $25 (unchanged).
This report was published on April 24, 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 77.67 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.04.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 125.34 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.75.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MDR MEDADVISOR LIMITED
Healthcare services – Overnight Price: $0.29
Canaccord Genuity rates ((MDR)) as Buy (1) –
MedAdvisor demonstrated solid top-line performance improvement in its third quarter, with the result markedly de-risking the full year outlook according to Canaccord Genuity.
The broker considers MedAdvisor to be executing well on its strategy to focus on higher value pharma offerings in the US, which includes vaccines. The broker sees a real and growing opportunity in the targeted and direct-to-patient pharma marketing segments.
Canaccord Genuity feels there is a scalable growth story available to MedAdvisor through a structured path forward.
The Buy rating and target price of 39 cents are retained.
This report was published on April 23, 2024.
Target price is $0.39 Current Price is $0.29 Difference: $0.095
If MDR meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.75.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NAB NATIONAL AUSTRALIA BANK LIMITED
Banks – Overnight Price: $33.62
Jarden rates ((NAB)) as Overweight (2) –
Jarden anticipates a resilient but muted half for the four bank majors, expecting sector profits to decline -1% half-on-half to $15.6bn as margin erosion and rising costs continue to impact.
While signs of moderating margin pressure will remain a key consideration of the reporting season, the broker is also interested in indications of further returns of excess provisions. Jarden considers it likely each major will announce new capital returns of $1.0-1.5bn.
The broker expects National Australia Bank to report a broadly stable half, anticipating a higher tax rate may have driven slightly lower cash profit. Jarden will be focused on commentary on adjustments to the bank's strategy and a potentical investment spend increase.
The Overweight rating is retained and the target price increases to $33.80 from $31.50.
This report was published on April 23, 2024.
Target price is $33.80 Current Price is $33.62 Difference: $0.18
If NAB meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $30.01, suggesting downside of -11.1%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 168.00 cents and EPS of 227.00 cents.
At the last closing share price the estimated dividend yield is 5.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 222.4, implying annual growth of -5.9%.
Current consensus DPS estimate is 167.5, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.2.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 169.00 cents and EPS of 232.00 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 227.3, implying annual growth of 2.2%.
Current consensus DPS estimate is 169.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.8.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
OBM ORA BANDA MINING LIMITED
Gold & Silver – Overnight Price: $0.35
Moelis rates ((OBM)) as Buy (1) –
Ora Banda Mining's Q3 production update met gold production expectations but with elevated costs, comments Moelis.
The reported production of 17.4koz was slightly under the broker's estimate of 17.8koz, while All-In Sustaining Costs (AISC) rose to $2,721/oz from the expected $1,915/oz.
The company's financial performance is anticipated to improve significantly over the next 12-18 months as new production phases begin, with potential annual Free Cash Flow (FCF) generation estimated between $160m-$200m.
No changes were made to the long-term financial projections, reflecting the broker's confidence in the company's strategic initiatives. The broker maintains a Buy rating with a target price of $0.42.
This report was published on April 23, 2024.
Target price is $0.42 Current Price is $0.35 Difference: $0.07
If OBM meets the Moelis target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 87.50.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.61.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PLS PILBARA MINERALS LIMITED
New Battery Elements – Overnight Price: $3.96
Canaccord Genuity rates ((PLS)) as Buy (1) –
Pilbara Minerals delivered a slight beat to Canaccord Genuity's expectations with its March quarter result of 179,000 tonnes. The company reported 165,000 tonnes shipped and a realised price of US$927 per tonne.
With the primary rejection facility ramping up to nameplate capacity, the company set a new monthly spodumene concentrate production record in March of 80,000 tonnes.
The broker notes this was achieved ahead of completion of the crushing and ore sorting facilities, which remain on track for this quarter with ramp up expected in the September quarter. Canaccord Genuity sees upside risk to consensus expectations.
The Buy rating and target price of $4.25 are retained.
This report was published on April 22, 2024.
Target price is $4.25 Current Price is $3.96 Difference: $0.29
If PLS meets the Canaccord Genuity target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $3.58, suggesting downside of -11.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 5.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.7, implying annual growth of -85.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 34.6.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 5.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.0, implying annual growth of 11.1%.
Current consensus DPS estimate is 1.8, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 31.2.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Goldman Sachs rates ((PLS)) as Sell (5) –
Goldman Sachs found Pilbara Minerals' third quarter spodumene production of 179,000 tonnes in line, while shipments of 165,000 tonnes were a miss on timing of shipments.
Realised pricing, while down -30% quarter-on-quarter, was also largely as expected.
The broker expects it is unlikely Pilbara Minerals will gain much benefit from improved spodumene pricing given large volumes comitted to offtake agreements in the near-term, which also limits the company's auction capacity.
The Sell rating is retained and the target price decreases to $2.80 from $2.90.
This report was published on April 22, 2024.
Target price is $2.80 Current Price is $3.96 Difference: minus $1.16 (current price is over target).
If PLS meets the Goldman Sachs target it will return approximately minus 29% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.58, suggesting downside of -11.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 10.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.7, implying annual growth of -85.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 34.6.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 3.00 cents and EPS of 5.30 cents.
At the last closing share price the estimated dividend yield is 0.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 74.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.0, implying annual growth of 11.1%.
Current consensus DPS estimate is 1.8, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 31.2.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Jarden rates ((PLS)) as Buy (1) –
A robust March quarter from Pilbara Minerals, says Jarden, including consistent production of 179,000 tonnes reflecting a 2% quarterly increase.
Post completion of the P680 primary rejection facility, the broker feels March provided insight into the latent capacity available with over 80,000 tonnes produced in the month alone, around 40% over nameplate capacity.
The Buy rating is retained and the target price decreases to $4.10 from $4.14.
This report was published on April 22, 2024.
Target price is $4.10 Current Price is $3.96 Difference: $0.14
If PLS meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.58, suggesting downside of -11.5%(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 11.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 35.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.7, implying annual growth of -85.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 34.6.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 5.00 cents and EPS of 16.10 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.60.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.0, implying annual growth of 11.1%.
Current consensus DPS estimate is 1.8, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 31.2.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PLT PLENTI GROUP LIMITED
Business & Consumer Credit – Overnight Price: $0.67
Wilsons rates ((PLT)) as Overweight (1) –
On Wilsons' assessment, Plenti Group's Q4 trading result revealed a notable outperformance in Cash NPAT at $4.6m for 2H24, driven by healthy Net Interest Margins (NIM) and reduced loan losses.
Originations grew 3.7% year-over-year to $286.0m, and the loan book expanded 21.1% to $2.1bn. The broker states the upcoming FY25 looks promising due to improved industry pricing dynamics following Macquarie Group’s ((MQG)) exit from automotive lending, which is expected to support NIM expansion for Plenti Group.
Also, the first product from the strategic partnership with National Australia Bank ((NAB)) is set to launch in June, which may further bolster growth.
Wilsons retains an Overweight rating with a raised target price of $1.20, reflecting upgraded forecasts for FY24 and FY25.
This report was published on April 24, 2024.
Target price is $1.20 Current Price is $0.67 Difference: $0.53
If PLT meets the Wilsons target it will return approximately 79% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 134.00.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 74.44.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PMT PATRIOT BATTERY METALS INC
Mining – Overnight Price: $0.76
Canaccord Genuity rates ((PMT)) as Speculative Buy (1) –
Patriot Battery Metals has released the final results from drilling at the CV5 pegmatite, now inclusive of the last 42 of 168 holes drilled in 2023. The complete results see the CV5 strike length extended to 4.6 kilometres.
The company, notes Canaccord Genuity, has continued to "aggressively" drill across the the Corvette asset, driving material expansion of known mineralisation. The recently concluded winter drill program comprised more than 121 holes at CV5 and 45 holes at CV13.
Results of this program are expected to be included in an updated mineral resource estimated, slated for completion by the third quarter.
The Speculative Buy rating and target price of $1.70 are retained.
This report was published on April 23, 2024.
Target price is $1.70 Current Price is $0.76 Difference: $0.945
If PMT meets the Canaccord Genuity target it will return approximately 125% (excluding dividends, fees and charges).
This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPS PRAEMIUM LIMITED
Wealth Management & Investments – Overnight Price: $0.48
Canaccord Genuity rates ((PPS)) as Buy (1) –
A positive March quarter update from Praemium, according to Canaccord Genuity. Platform funds under administration reached $24.3bn, up 6% quarter-on-quarter, in what the broker described as a comfortable beat to its estimates.
The result, explains Canaccord Genuity, was driven by an improved net flows performance and favourable market movements. The broker expects price increases should see further earnings momentum in the June quarter.
The Buy rating is retained and the target price increases to 86 cents from 81 cents.
This report was published on April 22, 2024.
Target price is $0.86 Current Price is $0.48 Difference: $0.375
If PPS meets the Canaccord Genuity target it will return approximately 77% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.70.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.13.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
QOR QORIA LIMITED
Software & Services – Overnight Price: $0.43
Canaccord Genuity rates ((QOR)) as Buy (1) –
Qoria has announced the divestment of its non-core product Migiri, as well as the restructure of its deferred consideration payments to Educator Impact. The result, notes Canaccord Genuity, will be a $6m improvement to cashflow.
Migiri, which Canaccord Genuity estimates was running at a -$2m loss, will be sold for $2m, but the net impact for Qoria includes an annual $2m free cash flow improvement.
The broker expects Qoria will close out the financial year with a net debt position of -$22m. The Buy rating is retained as is the target price of 50c.
This report was published on April 23, 2024.
Target price is $0.50 Current Price is $0.43 Difference: $0.065
If QOR meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.70.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.75.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RED RED 5 LIMITED
Gold & Silver – Overnight Price: $0.45
Moelis rates ((RED)) as Buy (1) –
Red 5 reported a decrease in Q3 gold production to 50.1 koz, falling short of the estimated 53.6 koz, primarily due to maintenance and unplanned downtime.
All-In Sustaining Costs (AISC) improved to $1,926/oz, better than the forecast $2,203/oz. Moelis remains optimistic about the gold miner achieving the upper end of its FY24 production guidance of 195-215 koz, estimating a total of 210 koz.
As per the broker, investor attention is now turning to the anticipated Scheme of Arrangement with Silver Lake Resources ((SLR)), expected to enhance balance sheet strength and development opportunities across a larger asset portfolio.
The broker has increased its target price to $0.50 from $0.48 and maintains a Buy rating.
This report was published on April 26, 2024.
Target price is $0.50 Current Price is $0.45 Difference: $0.05
If RED meets the Moelis target it will return approximately 11% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 1.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.00.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.50.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RMS RAMELIUS RESOURCES LIMITED
Gold & Silver – Overnight Price: $2.06
Canaccord Genuity rates ((RMS)) as Buy (1) –
Ramelius Resources delivered 86,900 ounces in the March quarter, reflecting a 27% quarterly improvement notes Canaccord Genuity. All in sustaining costs for the period totaled $1,344 per ounce, well below the company's recently released guidance range.
Full year production guidance was lifted to 285-295,000 ounces at an all in sustaining cost of $1,550-1,650 per ounce, which at midpoint equates to a 6% production increase and -11% cost decrease.
Canaccord Genuity lifts its June quarter expectations for the company by 8% to 80,700 ounces and reduces its all in sustaining costs by -20% to $1,405 per ounce.
The Buy rating is retained and the target price decreases to $2.60 from $2.65.
This report was published on April 23, 2024.
Target price is $2.60 Current Price is $2.06 Difference: $0.54
If RMS meets the Canaccord Genuity target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $2.21, suggesting upside of 6.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 6.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.9, implying annual growth of 157.6%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 11.6.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 8.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 3.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.3, implying annual growth of 24.6%.
Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 9.3.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
S32 SOUTH32 LIMITED
Mining – Overnight Price: $3.51
Goldman Sachs rates ((S32)) as Buy (1) –
It appears South32 reported a modestly weaker Q3 performance, with the majority of production metrics aligning closely to Goldman Sachs' estimates, except for lower outputs in copper, metallurgical coal, and zinc.
The broker notes that despite these challenges, no changes have been made to the FY24 production and cost guidance, except for Australian manganese due to infrastructure damage. Notably, the company has reduced its net debt significantly by over US$150m to approx US$940m.
Goldman Sachs maintains a Buy rating, with a slightly reduced price target reflecting the near-term operational challenges but underscoring confidence in the company's cash generation capabilities and strategic initiatives.
Forecasts have been reduced. Target loses -10c to $3.70. Buy.
This report was published on April 23, 2024.
Target price is $3.70 Current Price is $3.51 Difference: $0.19
If S32 meets the Goldman Sachs target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.76, suggesting upside of 5.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 6.09 cents and EPS of 14.93 cents.
At the last closing share price the estimated dividend yield is 1.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.1, implying annual growth of N/A.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 29.5.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 17.67 cents and EPS of 44.32 cents.
At the last closing share price the estimated dividend yield is 5.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 32.8, implying annual growth of 171.1%.
Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 10.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SDV SCIDEV LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $0.36
Canaccord Genuity rates ((SDV)) as Speculative Buy (1) –
SciDev reported revenue of $29m in the March quarter, up 38% year-on-year, and continues to generate more than 100% earnings growth this year. Canaccord Genuity described the period as an impressive quarter for the company.
The broker considers SciDev to have substantial ESG tailwinds given its water and waste solutions, particularly in the wake of acceleration of the global PFAS treatment industry following the introduction of new regulations in the US.
As per Canaccord Genuity, the outlook appears upbeat.
The Speculative Buy rating is retained and the target price increases to 54 cents from 42 cents.
This report was published on April 22, 2024.
Target price is $0.54 Current Price is $0.36 Difference: $0.18
If SDV meets the Canaccord Genuity target it will return approximately 50% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 1.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.00.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.61.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SHV SELECT HARVESTS LIMITED
Agriculture – Overnight Price: $3.63
Wilsons rates ((SHV)) as Overweight (1) –
On Wilsons's assessment, Select Harvests released a mixed trading update, revising FY24 crop volume to 28.5-30.0kt and almond price expectations to $7.30-7.50/kg, both slightly below prior forecasts.
These adjustments are not seen as significantly detracting from the substantial year-over-year improvement in earnings. The broker explains management's strategic focus remains on improving operating earnings to meet fixed charge covenant requirements and on generating sufficient free cash flow to normalise gearing levels.
Wilsons retains an Overweight rating with a slightly reduced 12-month target price of $5.39, down from $5.53, reflecting minor earnings downgrades and valuation adjustments based on a lower projected earnings capitalisation.
FY24 EPS is now forecast to be negative, but with still strong growth expected for FY25 and FY26.
This report was published on April 24, 2024.
Target price is $5.39 Current Price is $3.63 Difference: $1.76
If SHV meets the Wilsons target it will return approximately 48% (excluding dividends, fees and charges).
Current consensus price target is $4.68, suggesting upside of 33.0%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 2.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 165.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 2.7, 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 130.4.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 26.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.1, implying annual growth of 607.4%.
Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 18.4.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SLR SILVER LAKE RESOURCES LIMITED
Gold & Silver – Overnight Price: $1.46
Moelis rates ((SLR)) as Buy (1) –
It is Moelis' view Silver Lake Resources delivered a strong Q3 production report, significantly exceeding expectations. Gold sales reached 64.5 koz, surpassing the forecast of 53.3 koz, with an AISC of $1,522/oz, well below the expected $2,051/oz.
The cash position strengthened to $342m, above the prior $305.1m. Exploration updates from the Sugar Zone indicate potential resource upgrades, highlighted by significant drill intercepts.
As per the broker, the proposed merger with Red 5 ((RED)) is expected to complete by the fiscal year-end. Buy rating retained with a target price of $1.70.
This report was published on April 26, 2024.
Target price is $1.70 Current Price is $1.46 Difference: $0.245
If SLR meets the Moelis target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 9.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.99.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 7.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.49.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
STX STRIKE ENERGY LIMITED
NatGas – Overnight Price: $0.22
Wilsons rates ((STX)) as Overweight (1) –
On Wilsons' observation, Strike Energy's March quarter results showed production and pricing in line with market expectations.
The company is gearing up for the drilling of Walyering-7, anticipated to potentially double the 2P reserves of the field. Wilsons states, this well, along with two others planned for the exploration campaign this year, positions Strike Energy for significant near-term growth opportunities.
Production for the quarter was slightly below estimates at 24 TJ/d due to demand constraints, but upcoming infrastructure developments with APA Group ((APA)) might well expand sales potential, suggests the broker.
Price target lowered to 33c from 34c. Overweight rating retained. Estimates have swung around significantly, in either direction.
This report was published on April 24, 2024.
Target price is $0.33 Current Price is $0.22 Difference: $0.11
If STX meets the Wilsons target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $0.26, suggesting upside of 16.7%(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 229.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.5, 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 44.0.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 66.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 0.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1.4, implying annual growth of 180.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 15.7.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WBC WESTPAC BANKING CORPORATION
Banks – Overnight Price: $25.76
Jarden rates ((WBC)) as Upgrade to Overweight from Neutral (2) –
Jarden anticipates a resilient but muted half for the four bank majors, expecting sector profits to decline -1% half-on-half to $15.6bn as margin erosion and rising costs continue to impact.
While signs of moderating margin pressure will remain a key consideration of the reporting season, the broker is also interested in indications of further returns of excess provisions. Jarden considers it likely each major will announce new capital returns of $1.0-1.5bn.
The broker estimates a -3% half-on-half profit decline from Westpac to $3.44bn. With the bank still undergoing its existing buybacks, Jarden notes Westpac may choose to return capital through special dividends rather than a top up of its buyback.
The rating is upgraded to Overweight from Neutral and the target price increases to $25.70 from $23.50.
This report was published on April 23, 2024.
Target price is $25.70 Current Price is $25.76 Difference: minus $0.06 (current price is over target).
If WBC 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 $24.22, suggesting downside of -6.4%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 143.00 cents and EPS of 189.00 cents.
At the last closing share price the estimated dividend yield is 5.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 188.6, implying annual growth of -8.1%.
Current consensus DPS estimate is 142.6, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 143.00 cents and EPS of 184.00 cents.
At the last closing share price the estimated dividend yield is 5.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 190.6, implying annual growth of 1.1%.
Current consensus DPS estimate is 144.4, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 13.6.
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WDS WOODSIDE ENERGY GROUP LIMITED
NatGas – Overnight Price: $28.19
Jarden rates ((WDS)) as Neutral (3) –
Jarden found positives in Woodside Energy's quarterly report, despite weak liquids production and low realised gas prices. The company reported a -6% quarterly production decline to 44.9m barrels of oil equivalent, as the Pyrenees FPSO head to dry rock.
Sales volumes also declined -7% quarterly, partly on a material underlift at Pluto.
The extension of the Pluto gas processing agreement at the North West Shelf and a potential pivot from high spot gas exposure, however, were well received by Jarden.
The Neutral rating is retained and the target price decreases to $29.25 from $30.00.
This report was published on April 22, 2024.
Target price is $29.25 Current Price is $28.19 Difference: $1.06
If WDS meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $33.80, suggesting upside of 19.1%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 167.53 cents and EPS of 210.78 cents.
At the last closing share price the estimated dividend yield is 5.94%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 195.1, implying annual growth of N/A.
Current consensus DPS estimate is 155.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 150.78 cents and EPS of 191.14 cents.
At the last closing share price the estimated dividend yield is 5.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 210.5, implying annual growth of 7.9%.
Current consensus DPS estimate is 168.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 13.5.
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
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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