Australian Broker Call *Extra* Edition – May 23, 2024

This story features ARGENICA THERAPEUTICS LIMITED, and other companies. For more info SHARE ANALYSIS: AGN

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.

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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)

AGN   AGY   ALL   ARB   AZL   BEN (2)   BRE   BXB   CGF   CPU   CSR   DDR   GNC   GNG   GSS   IPL (2)   KAR   MAQ   MEI   MYX   OML   QBE   TLX   XRO  

AGN    ARGENICA THERAPEUTICS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.73

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

In case you were unaware, the brain of a ferret resembles the human brain, which explains why new pre-clinical data for Argenica Therapeutics' drug ARG-007 was run through a ferret model of Traumatic Brain Injury (TBI).

Happily, Petra Capital reports the model affirmed the drug's neuroprotective profile and supports its further development for the brain injury indication.

The drug could progress into a Phase 2 TBI trial, believes the analyst, pending the outcome of a larger ferret study.

Petra Capital makes no adjustments to forecasts and the $1.00 target and Buy rating are kept.

This report was published on May 17, 2024.

Target price is $1.00 Current Price is $0.73 Difference: $0.27
If AGN meets the Petra Capital target it will return approximately 37% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 5.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.81.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 4.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.90.

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

AGY    ARGOSY MINERALS LIMITED

New Battery Elements – Overnight Price: $0.13

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

In a milestone that will allow an accelerated production ramp-up through the remainder of 2024, explains Petra Capital, Argosy Minerals has achieved continuous operations (since April 27) at the Rincon lithium carbonate facility.

This outcome in Argentina will support planning and financing of the proposed expansion at Rincon to 12,000tpa, points out the broker.

The Buy rating and 31c target are maintained.

This report was published on May 17, 2024.

Target price is $0.31 Current Price is $0.13 Difference: $0.18
If AGY meets the Petra Capital target it will return approximately 138% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.57.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.57.

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

ALL    ARISTOCRAT LEISURE LIMITED

Gaming – Overnight Price: $46.44

Jarden rates ((ALL)) as Buy (1) –

Jarden assesses the Aristocrat Leisure results as better-than-expected, driven by strong Gaming Operations installs and robust revenue growth, despite a drop in market share in A&NZ.

The company has initiated a -$60m cost-out program and increased its dividend to 36cps, along with a $350m extension to the $500m buyback, notes the analyst.

Key highlights, according to the broker, include substantial growth in North America Gaming and positive performance in the casino segment with sales returning to pre-covid levels.

Buy rating and $47.20 target unchanged.

This report was published on May 20, 2024.

Target price is $47.20 Current Price is $46.44 Difference: $0.76
If ALL meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $50.20, suggesting upside of 9.8%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 77.00 cents and EPS of 220.10 cents.
At the last closing share price the estimated dividend yield is 1.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 235.0, implying annual growth of 5.6%.
Current consensus DPS estimate is 77.1, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 19.5.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 87.00 cents and EPS of 249.40 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 18.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 250.7, implying annual growth of 6.7%.
Current consensus DPS estimate is 82.1, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 18.2.

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

ARB    ARB CORPORATION LIMITED

Automobiles & Components – Overnight Price: $37.00

Canaccord Genuity rates ((ARB)) as Initiation of coverage with Hold (3) –

Canaccord Genuity initiates coverage on ARB Corp with a Hold rating and a 12-month price target of $35.60.

The company's strong brand in 4WD and camping accessories is viewed as a plus, but the broker is cautious about potential earnings risk in 2H25 and FY26 against consensus estimates.

The high multiple suggests limited room for investor error, the broker suggests, with particular attention to the growth in US export markets being crucial for future performance, alongside a moderation in the domestic aftermarket earnings.

Hold. $35.60 target price.

This report was published on May 17, 2024.

Target price is $35.60 Current Price is $37.00 Difference: minus $1.4 (current price is over target).
If ARB meets the Canaccord Genuity target it will return approximately minus 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $40.58, suggesting upside of 10.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 74.00 cents and EPS of 133.00 cents.
At the last closing share price the estimated dividend yield is 2.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 127.5, implying annual growth of 18.1%.
Current consensus DPS estimate is 68.4, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 28.8.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 76.00 cents and EPS of 138.00 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 26.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 141.0, implying annual growth of 10.6%.
Current consensus DPS estimate is 75.8, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 26.1.

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

AZL    ARIZONA LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.02

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

Recent lithium M&A activity by energy majors in the US involving direct lithium extraction (DLE) brine projects provides an attractive peer comparative of $300/t LCE, according to Petra Capital.

The broker feels these recent transactions lend further validation to Arizona Lithium's business plan in Saskatchewan.

Buy. Target 6c.

This report was published on May 17, 2024.

Target price is $0.06 Current Price is $0.02 Difference: $0.036
If AZL meets the Petra Capital target it will return approximately 150% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents.

Forecast for FY25:

Petra Capital 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 24.00.

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

BEN    BENDIGO & ADELAIDE BANK LIMITED

Banks – Overnight Price: $11.02

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

Bendigo & Adelaide Bank reported earnings for the 10-months to April 30 of $464m, around 8%-9% above previous FY24 estimates according to Goldman Sachs.

The better performance was driven by improved pre-provision profit and lower bad and doubtful debts (BDDs), while the net interest margin (NIM) was higher at 1.87% versus the broker's FY24 forecast of 1.85% and consensus at 1.83%  

The analyst revises estimates for FY24 and FY25 by 7.3% and 6.1% ,reflecting better NIM performance and cost management with more details expected at the May 23 Investor Briefing.

A Neutral rating is retained and  price target lift to $10.51 from $9.74.

This report was published on May 20, 2024.

Target price is $10.51 Current Price is $11.02 Difference: minus $0.51 (current price is over target).
If BEN meets the Goldman Sachs target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.82, suggesting downside of -10.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 60.00 cents and EPS of 82.00 cents.
At the last closing share price the estimated dividend yield is 5.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 90.2, implying annual growth of 2.6%.
Current consensus DPS estimate is 64.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.2.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 60.00 cents and EPS of 77.00 cents.
At the last closing share price the estimated dividend yield is 5.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.3, implying annual growth of -2.1%.
Current consensus DPS estimate is 65.0, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 12.5.

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

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Jarden rates ((BEN)) as Neutral (3) –

Bendigo & Adelaide Bank reported a strong trading update for FY24 year-to-date which came in around  8%-10% above estimates, driven by better margins and lower bad and doubtful debts (BDDs), according to the analyst at Jarden.

The 2H24 margin expanded by 9 basis points to 1.92%, benefiting from non-recurring items like lower liquid assets and maturing fixed-rate mortgages while credit quality remains stable with minimal deterioration.

The broker raises EPS estimates for FY24, and FY25, by 7.2% and 5.9%, respectively, due to higher net interest margins and lower BDDs. Key risks include mortgage competition, margin discipline, and cost control.

Neutral rating and the target raised to $10.20 from $9.60.

This report was published on May 20, 2024.

Target price is $10.20 Current Price is $11.02 Difference: minus $0.82 (current price is over target).
If BEN meets the Jarden target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.82, suggesting downside of -10.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 62.00 cents and EPS of 88.80 cents.
At the last closing share price the estimated dividend yield is 5.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 90.2, implying annual growth of 2.6%.
Current consensus DPS estimate is 64.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.2.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 63.00 cents and EPS of 82.70 cents.
At the last closing share price the estimated dividend yield is 5.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.3, implying annual growth of -2.1%.
Current consensus DPS estimate is 65.0, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 12.5.

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

BRE    BRAZILIAN RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $2.98

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

Approvals secured from the Brazilian National Nuclear Energy Commission (INB) will allow Brazilian Rare Earths to export rare earth samples for test work, notes Petra Capital. In time, they are also expected to support the pathway for production-scale export approvals.

The approvals for Brazilian Rare Earths involved initial export approvals and the entering of a strategic partnership with the INB.

The export approvals should help mitigate investor concerns regarding the radioactivity of the company's concentrates, according to the broker. A non-binding MoU with INB outlines the potential for collaboration on selling uranium co-products.

The Buy rating and $4.29 target are maintained.

This report was published on May 17, 2024.

Target price is $4.29 Current Price is $2.98 Difference: $1.31
If BRE meets the Petra Capital target it will return approximately 44% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 12.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 24.03.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 11.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 26.61.

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

BXB    BRAMBLES LIMITED

Transportation & Logistics – Overnight Price: $14.25

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

Jarden acknowledges the recent market concerns over revenue momentum for Brambles and point to a positive FY24 earnings outlook with guidance for 6%-8% revenue growth (currency adjusted) and 13%-15% EBIT growth (currency adjusted).

A potential $1bn-plus buyback or increased dividend payout is expected to be announced in FY24 results on August 21 or the September Strategy Day.

A Buy rating and $15.70 target are unchanged.

This report was published on May 20, 2024.

Target price is $15.70 Current Price is $14.25 Difference: $1.45
If BXB meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $16.28, suggesting upside of 13.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 73.00 cents and EPS of 81.99 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 88.6, implying annual growth of N/A.
Current consensus DPS estimate is 48.6, 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 81.07 cents and EPS of 90.52 cents.
At the last closing share price the estimated dividend yield is 5.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 99.9, implying annual growth of 12.8%.
Current consensus DPS estimate is 55.9, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 14.3.

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

CGF    CHALLENGER LIMITED

Wealth Management & Investments – Overnight Price: $6.26

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

Following the sale of the bank operation to Heartland Bank, Goldman Sachs reassesses the earnings outlook for Challenger. 

The analyst adjusts earnings forecasts further out to reflect a delayed view on interest rate cuts and a favourable outlook on product cash margins.

Goldman Sachs views the company's growing exposure to the superannuation market and anticipated improvements in retail annuity sales and margins as strengths.

Some minor upgrades to earnings forecasts are made. Buy rating and $7.50 target unchanged.

This report was published on May 20, 2024.

Target price is $7.50 Current Price is $6.26 Difference: $1.24
If CGF meets the Goldman Sachs target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $7.25, suggesting upside of 16.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 25.60 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 4.09%.
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 47.4, implying annual growth of 12.5%.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 13.1.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 27.20 cents and EPS of 68.00 cents.
At the last closing share price the estimated dividend yield is 4.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.21.

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 4.5%.
Current consensus EPS estimate suggests the PER is 10.5.

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

CPU    COMPUTERSHARE LIMITED

Diversified Financials – Overnight Price: $26.97

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

Goldman Sachs reassesses the outlook for Computershare following the sale of its US mortgage servicing business to Rithm Capital.

The broker makes minor earnings forecast changes to FY25 estimates and considers the share price pullback as offering a reasonable valuation on 14.8x FY25/FY26 earnings.

Buy rating and $28 target unchanged.

This report was published on May 20, 2024.

Target price is $28.00 Current Price is $26.97 Difference: $1.03
If CPU meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $28.98, 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 80.00 cents and EPS of 176.78 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 176.4, implying annual growth of N/A.
Current consensus DPS estimate is 84.0, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 15.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 87.00 cents and EPS of 182.87 cents.
At the last closing share price the estimated dividend yield is 3.23%.
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 191.1, implying annual growth of 8.3%.
Current consensus DPS estimate is 89.8, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 14.1.

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

CSR    CSR LIMITED

Building Products & Services – Overnight Price: $8.91

Jarden rates ((CSR)) as Neutral (3) –

No final dividend was declared during FY24 results for CSR given the proposed acquisition by Saint Gobain, explains Jarden, despite $33.8m in available franking credits. Also, no FY25 outlook guidance was provided.

The broker praises good execution of strategy within Building Products and property development, though overall quality was impaired due to the unsustainable aluminium investment.

The Neutral rating and $9.00 target are maintained. Jarden anticipates the share price will be driven by news flow around corporate activity rather than fundamental value.

This report was published on May 16, 2024.

Target price is $9.00 Current Price is $8.91 Difference: $0.09
If CSR meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $7.89, suggesting downside of -11.5%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 32.10 cents and EPS of 45.90 cents.
At the last closing share price the estimated dividend yield is 3.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.3, implying annual growth of -18.9%.
Current consensus DPS estimate is 30.1, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 22.7.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 39.30 cents and EPS of 56.20 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.8, implying annual growth of 6.4%.
Current consensus DPS estimate is 34.5, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 21.3.

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

DDR    DICKER DATA LIMITED

Hardware & Equipment – Overnight Price: $9.48

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

Dicker Data reported a surprise earnings miss for the 1Q24, Goldman Sachs states.

Gross revenue at $695m was down -10% year-over-year and -20% sequentially due to seasonal factors and a lower backorder book.

The broker highlights the company points to new vendors like Adobe and Hikvision, which were launched in 1Q24 and are expected to contribute and scale in the 2H24, along with a forecast recovery in PC sales.

Sell rating and $10.50 target unchanged.

This report was published on May 20, 2024.

Target price is $10.50 Current Price is $9.48 Difference: $1.02
If DDR meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $10.45, suggesting upside of 10.8%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 49.30 cents and EPS of 50.80 cents.
At the last closing share price the estimated dividend yield is 5.20%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 46.0, implying annual growth of 0.9%.
Current consensus DPS estimate is 44.8, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 20.5.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 54.50 cents and EPS of 56.00 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.7, implying annual growth of 12.4%.
Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 18.2.

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

GNC    GRAINCORP LIMITED

Agriculture – Overnight Price: $8.31

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

GrainCorp's 1H earnings (EBITDA) were in line with management's recent guidance. A 14c ordinary dividend and 10c special dividend were declared, and Wilsons anticipates further capital management initiatives.

The broker now forecasts 20cps special dividends in FY24 and FY25, reflecting strong cash levels on the balance sheet.

To counter this positive news on dividends, the analysts highlight both the size and abruptness of the 1H earnings decline compared to the previous corresponding period.

Management maintained FY24 guidance.

The Market Weight rating is retained and the target price increases to $8.27 from $7.28 due to upgrades to earnings forecasts in the outer years.

This report was published on May 17, 2024.

Target price is $8.27 Current Price is $8.31 Difference: minus $0.04 (current price is over target).
If GNC meets the Wilsons target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.42, suggesting upside of 12.7%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 48.00 cents and EPS of 31.00 cents.
At the last closing share price the estimated dividend yield is 5.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.4, implying annual growth of -71.9%.
Current consensus DPS estimate is 41.9, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 26.6.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 48.00 cents and EPS of 40.80 cents.
At the last closing share price the estimated dividend yield is 5.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.9, implying annual growth of 39.8%.
Current consensus DPS estimate is 29.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.0.

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

GNG    GR ENGINEERING SERVICES LIMITED

Mining Sector Contracting – Overnight Price: $2.22

Taylor Collison rates ((GNG)) as Outperform (2) –

GR Engineering Services management continues to see a historically high level of study work available, which Taylor Collison explains should ultimately convert into engineering, procurement and construction (EPC) work for the company.

Management has recently announced an EPR contract with Liontown Resources ((LTR)) worth $71m. The broker suggests this contract win helps allay any revenue shortfall fears from a go-slow, or cancelation, at BHP Group's ((BHP)) West Musgrave project.

The Outperform rating and target price of $2.52 are retained.

This report was published on May 17, 2024.

Target price is $2.52 Current Price is $2.22 Difference: $0.3
If GNG meets the Taylor Collison target it will return approximately 14% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Taylor Collison forecasts a full year FY24 dividend of 19.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 8.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.10.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 20.00 cents and EPS of 22.20 cents.
At the last closing share price the estimated dividend yield is 9.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00.

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

GSS    GENETIC SIGNATURES LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.76

Taylor Collison rates ((GSS)) as Speculative Outperform (2) –

In a potentially transformational milestone, Taylor Collison points out the final stage is approaching for FDA review of Genetic Signatures' 510(k) application.

The company is seeking clearance to market its EasyScreen gastrointestinal parasite (GIP) test kit in the US. If approved, the analyst is expecting a rapid take-up as the test meets an unmet need, and reimbursement at US$263/test is already in place.

While the broker is expecting a decision before the end of May, there is a moderate risk the FDA review could continue into June.

The Speculative Outperform rating is maintained. Target $2.21.

This report was published on May 17, 2024.

Target price is $2.21 Current Price is $0.76 Difference: $1.45
If GSS meets the Taylor Collison target it will return approximately 191% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Taylor Collison forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 13.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.71.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 5.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.07.

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

IPL    INCITEC PIVOT LIMITED

Agriculture – Overnight Price: $3.08

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

Goldman Sachs observes Incitec Pivot confirmed at the 1H24 results negotiations for the sale of the fertiliser business to PT Pupuk Kalimantan Timur are ongoing.

The broker also notes APAC explosives performed well, with EBIT significantly above expectations, while North America explosives underperformed due to weather impacts.

Management announced a transformation program focusing on pricing, cost, and working capital efficiencies, details to be presented at the September investor day.

A minor tweak in the FY24 earnings forecasts due to a better APAC performance has been implemented, despite weaker North America results.

Buy rating unchanged and the target raised to $3.35 from $3.25.

This report was published on May 17, 2024.

Target price is $3.35 Current Price is $3.08 Difference: $0.27
If IPL meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $3.05, suggesting downside of -0.2%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 10.00 cents and EPS of 19.00 cents.
At the last closing share price the estimated dividend yield is 3.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.1, implying annual growth of -37.2%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 16.9.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 10.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 3.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.5, implying annual growth of 7.7%.
Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.3%.
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

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Jarden rates ((IPL)) as Upgrade to Overweight from Neutral (2) –

According to Jarden the 1H24 Incitec Pivot results showed strong performance in the Explosives segment, which offset weaknesses in Fertilisers.

Explosives earnings are expected to remain robust, with significant re-contracting growth anticipated through FY25 and FY26, notes the analyst, while the Fertilisers trade sale remains a key overhang, with ongoing negotiations impacting the $900m share buyback.

Gearing remains low and the analyst envisages a positive long-term outlook for Explosives. The rating is upgraded to Overweight from Neutral and the target lifted to $3.15 from $2.75.

This report was published on May 17, 2024.

Target price is $3.15 Current Price is $3.08 Difference: $0.07
If IPL meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.05, suggesting downside of -0.2%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 9.80 cents and EPS of 19.30 cents.
At the last closing share price the estimated dividend yield is 3.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.1, implying annual growth of -37.2%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 16.9.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 11.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 3.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.5, implying annual growth of 7.7%.
Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.3%.
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

KAR    KAROON ENERGY LIMITED

Crude Oil – Overnight Price: $1.83

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

Ahead of Karoon Energy's interim results in August, management will announce its capital management policy in July. 

Jarden expects shareholder returns (either dividends and/or buybacks) will be based on a percentage of free cash flow (FCF) and a payout ratio in the 20-40% range.

The broker now allows for a 25% FCF payout through the outlook period, which reduces the analysts' forecast end-of-2028 net cash position by -US$347m. DPS forecasts are increased.

The Overweight rating is maintained and the target is reduced to $2.21 from $2.35.

This report was published on May 16, 2024.

Target price is $2.21 Current Price is $1.83 Difference: $0.375
If KAR meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.66, suggesting upside of 47.8%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 9.40 cents and EPS of 27.10 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 50.0, implying annual growth of N/A.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 3.6.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 10.20 cents and EPS of 23.30 cents.
At the last closing share price the estimated dividend yield is 5.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.2, implying annual growth of -13.6%.
Current consensus DPS estimate is 9.1, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 4.2.

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

MAQ    MACQUARIE TECHNOLOGY GROUP LIMITED

Telecommunication – Overnight Price: $85.23

Goldman Sachs rates ((MAQ)) as Downgrade to Neutral from Buy (3) –

Goldman Sachs reviews Macquarie Technology in light of the shift from key data centre big-picture catalysts to the execution and construction phases, particularly the IC3W project.

The broker seeks confirmation of the size of the IC3W upscale to 45MW from 32MW or land purchase in Sydney for a new site to offer upside potential to the stock.

At this stage the company is viewed as entering a capital intensive phase and any contract announcement may be some time away.

The analyst sees limited upside expected for FY24-26 EBITDA forecasts and with a valuation already reflecting growth, the rating is downgraded to Neutral from Buy.

The target is lowered -3% to $90.20.

This report was published on May 20, 2024.

Target price is $90.20 Current Price is $85.23 Difference: $4.97
If MAQ meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
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 132.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 64.57.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 156.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.63.

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

MEI    METEORIC RESOURCES NL

Gold & Silver – Overnight Price: $0.18

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

Meteoric Resources is on track for a 200mt measured and indicated resource, suggests Petra Capital, after the release of an updated resource for the Soberbo deposit.

The deposit is one of five within the company's Caldeira ionic rare earth project in Brazil.

Petra Capital retains its current production forecasts and reiterates its Buy rating with an unchanged target price of 38c.

This report was published on May 17, 2024.

Target price is $0.38 Current Price is $0.18 Difference: $0.195
If MEI meets the Petra Capital target it will return approximately 105% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Petra Capital forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 46.25.

Forecast for FY25:

Petra Capital forecasts a full year FY25 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 30.83.

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

MYX    MAYNE PHARMA GROUP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $5.34

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

Back in mid-February, Change Healthcare in the US publicly disclosed it had been impacted by a cyberattack. Wilsons explains this event then rippled across the US healthcare system from February-April, and impacted Mayne Pharma too.

In particular, impacts were felt at Mayne's Nextstellis business, as well as its customer base accessing co-pay support for this product, but the analysts advise the setback is only temporary.

The Overweight rating is unchanged and the target falls to $7.09 from $7.38.

This report was published on May 17, 2024.

Target price is $7.09 Current Price is $5.34 Difference: $1.75
If MYX meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
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 48.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.94.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 24.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.89.

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

OML    OOH!MEDIA LIMITED

Out of Home Advertising – Overnight Price: $1.53

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

The 1Q24 trading update from oOh!media with 1% revenue growth was in line with the Goldman Sachs analyst's forecast.

Backing out the lost Vicinity contract, revenue growth was 6%, below the industry's 9%, while April revenues showed modest growth, with limited visibility for May and June, notes the broker.

Management expects improved performance in the 2H24 with input from new assets like Woollahra and Sydney Metro.

Goldman Sachs points to advertising market headwinds and elevated contract re-tenders affecting gross profit margins as a risk for the company.

A Neutral rating is maintained. Target price is raised 3% to $1.67.

This report was published on May 17, 2024.

Target price is $1.67 Current Price is $1.53 Difference: $0.135
If OML meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $1.93, suggesting upside of 26.0%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 6.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 69.8%.
Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 14.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 6.00 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.7, implying annual growth of 18.7%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 12.0.

Market Sentiment: 0.5
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: $17.86

Jarden rates ((QBE)) as Buy (1) –

Jarden believes there is 7% upside risk to consensus forecasts for QBE Insurance. The run-off of the non-core US book, combined with an improving North American combined operating ratio (COR) outlook, is expected to support a group FY25 COR of circa 92%.

The analysts' EPS forecasts rise after trimming the COR outlook to 93.3% for FY24 and 92.7% for FY25, and the target rises to $21.50 from $21.00.

The Buy rating is maintained.

This report was published on May 16, 2024.

Target price is $21.50 Current Price is $17.86 Difference: $3.64
If QBE meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $18.72, suggesting upside of 4.9%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 96.00 cents and EPS of 190.95 cents.
At the last closing share price the estimated dividend yield is 5.38%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 178.5, implying annual growth of N/A.
Current consensus DPS estimate is 81.6, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 10.0.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 97.00 cents and EPS of 195.06 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.16.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 182.9, implying annual growth of 2.5%.
Current consensus DPS estimate is 83.5, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 9.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

TLX    TELIX PHARMACEUTICALS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $15.78

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

Wilsons is confident reflecting Telix Pharmaceuticals has in place a strategy to become a fully integrated radiopharmaceutical developer.

The analyst views more upside potential if the company’s therapeutic assets, such as TLX591, are commercialised independently rather than out-licensed, ultimately offering more value for shareholders.

Looking ahead, the broker also anticipates catalysts from the 'ILL2CCIX' strategy and US Medicare pricing reforms.

Recent M&A activity in the sector and the strong R&D pipeline position the shares for potential inclusion in the ASX100, notes Wilsons.

Overweight rating and the target is raised to $20.

This report was published on May 20, 2024.

Target price is $20.00 Current Price is $15.78 Difference: $4.22
If TLX meets the Wilsons target it will return approximately 27% (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 10.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 156.24.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 20.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 75.87.

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

XRO    XERO LIMITED

Accountancy – Overnight Price: $124.00

Jarden rates ((XRO)) as Upgrade to Overweight from Neutral (2) –

In a report published before today's market update, Jarden believes Xero is now well placed to produce meaningful free cash flow as operating leverage emerges, and is capable of still balancing growth and profitability.

While the current valuation is not cheap, upside risk is asymmetric, suggest the analysts.

Payments of dividends will likely commence in FY25, according to the broker, and revenue should almost triple on a 10-year view.

Software-as-a-service (SaaS) economics are expected to drive significant operating leverage, and Jarden assumes an earnings (EBIT) margin expansion to around 40% in the long-term from 6% in FY23.

The target rises to $141 from $110 and the broker's rating is upgraded to Overweight from Neutral.

This report was published on May 16, 2024.

Target price is $141.00 Current Price is $124.00 Difference: $17
If XRO meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $127.25, suggesting downside of -2.2%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 96.96 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 127.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 69.0, 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 188.6.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 50.01 cents and EPS of 175.06 cents.
At the last closing share price the estimated dividend yield is 0.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 70.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 112.0, implying annual growth of 62.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 116.2.

This company reports in NZD. 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

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