Australian Broker Call *Extra* Edition – Jun 12, 2024

This story features BHP GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: BHP

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

BHP   BRE   COE (2)   FBU   GDF   GDG   GNC   IEL   MDR   NAN   SFR   TWE  

BHP    BHP GROUP LIMITED

Bulks – Overnight Price: $43.74

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

Goldman Sachs finds shares in BHP Group attractively priced, citing robust free cash flow and growth potential in the copper sector.

BHP is expected to generate significant EBITDA from copper, with forecasts showing an increase to US$11.5bn in FY25.

Financial forecasts have been adjusted, with EPS for FY24 revised to US$2.58 and FY25 to US$2.28. The broker remains optimistic about BHP’s ongoing superior margins and operating performance, particularly in the Pilbara iron ore sector.

Buy, alongside a 12-month price target of $49.00.

This report was published on June 6, 2024.

Target price is $49.00 Current Price is $43.74 Difference: $5.26
If BHP meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $45.06, suggesting upside of 3.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 216.36 cents and EPS of 393.11 cents.
At the last closing share price the estimated dividend yield is 4.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 351.8, implying annual growth of N/A.
Current consensus DPS estimate is 234.1, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 12.4.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 191.99 cents and EPS of 347.40 cents.
At the last closing share price the estimated dividend yield is 4.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 426.7, implying annual growth of 21.3%.
Current consensus DPS estimate is 255.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 10.3.

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

BRE    BRAZILIAN RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $3.65

Canaccord Genuity rates ((BRE)) as Speculative Buy (1) –

Canaccord Genuity analysts highlight ongoing active exploration programs at Rocha da Rocha, including auger and diamond drilling at Monte Alto and Velhinas, have revealed strong potential for resource upgrades.

The broker is optimistic about the de-risking of the project with export approvals and a memorandum of understanding with Industrias Nucleares do Brasil for uranium potential.

Financial forecasts have been adjusted, reflecting increased conviction in exploration success and project development potential.

Canaccord Genuity analysts keep their rating for Brazilian Rare Earths as Speculative Buy while lifting their price target to $4.25 from $3.20.

This report was published on June 4, 2024.

Target price is $4.25 Current Price is $3.65 Difference: $0.6
If BRE meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).

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

COE    COOPER ENERGY LIMITED

Crude Oil – Overnight Price: $0.20

Canaccord Genuity rates ((COE)) as Upgrade to Buy from Speculative Buy (1) –

Canaccord Genuity highlights Cooper Energy’s strong position in the south-east gas market, with potential for significant free cash flow generation of $300-500m over three years.

The Otway Basin's development projects, including the Annie and OP3D wells, are progressing well, the analysts observe, targeting first production by 2028.

Financial forecasts have been revised, with FY24 EBITDA now expected at $122m. The broker remains optimistic about Cooper Energy’s growth prospects amid rising gas prices and strategic infrastructure investments.

Canaccord Genuity has upgraded Cooper Energy to Buy from Speculative Buy while raising the price target to $0.27 from $0.25.

This report was published on June 4, 2024.

Target price is $0.27 Current Price is $0.20 Difference: $0.07
If COE meets the Canaccord Genuity target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $0.27, suggesting upside of 35.0%(ex-dividends)

Forecast for FY24:

Current consensus EPS estimate is 0.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 33.3.

Forecast for FY25:

Current consensus EPS estimate is 1.2, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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

Post the Cooper Energy investor briefing, Jarden has adopted a more positive view on Otway. The broker notes the company is increasingly confident about achieving higher sustained performance at the Orbost Gas Processing Plant.

Cooper Energy has completed the BMG decommissioning program and is now focusing on drilling activities in the Otway Basin, which, the broker suggests, could significantly boost the company's valuation.

Jarden estimates the Otway Basin strategy, if successful, could generate over $500m in annual revenues by FY29. 

Target adjusted to 24c from 23c. Overweight rating maintained.

This report was published on June 5, 2024.

Target price is $0.24 Current Price is $0.20 Difference: $0.04
If COE meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $0.27, suggesting upside of 35.0%(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 minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 100.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 0.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 33.3.

Forecast for FY25:

Jarden 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 100.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.2, implying annual growth of 100.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.7.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

FBU    FLETCHER BUILDING LIMITED

Building Products & Services – Overnight Price: $2.85

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

Goldman Sachs analysts have updated their outlook and modeling for Fletcher Building, maintaining a Neutral rating and setting a price target of $3.05 (unchanged).

The broker highlights the company’s updated banking agreements, which include more favourable terms for covenant testing through the end of 2025.

Fletcher Building has refinanced A$424.5m of its syndicated facility to expire in July 2027, with another A$250m to expire in May 2029, pushing the next material debt maturity to FY27.

Financial forecasts have been revised, with the FY24 EBITDA estimate cut by -7% and FY25 EBITDA by -10%. The broker remains cautious due to challenging macro-economic conditions and ongoing uncertainty regarding Iplex and legacy construction projects.

This report was published on June 3, 2024.

Target price is $3.05 Current Price is $2.85 Difference: $0.2
If FBU meets the Goldman Sachs target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.77, suggesting downside of -2.8%(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 minus 2.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 102.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.6, 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 11.6.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 23.12 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.5, implying annual growth of -8.5%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 12.7.

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

GDF    GARDA PROPERTY GROUP

REITs – Overnight Price: $1.17

Moelis rates ((GDF)) as Buy (1) –

Moelis analysts have kept their Buy rating for Garda Property Group and raised their price target to $1.63 from $1.60.

The REIT's FY24 earnings guidance has been upgraded due to increased earnings from external lending activities and the impact of a share buy-back.

Guidance now expects a distribution payout ratio of 99%, reflecting FFO of $13.1m, up from prior guidance of $12.6m.

Financial forecasts have been adjusted, with FY24 net profit forecast revised up to $13.1m from $12.6m and FY25 EPS forecast increased by 5.5%. DPS estimates have remained untouched.

The broker remains optimistic about the REIT's earnings potential despite the non-core nature of the lending activities.

This report was published on June 5, 2024.

Target price is $1.63 Current Price is $1.17 Difference: $0.465
If GDF meets the Moelis target it will return approximately 40% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 6.30 cents and EPS of 6.40 cents.
At the last closing share price the estimated dividend yield is 5.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.20.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 6.50 cents and EPS of 6.90 cents.
At the last closing share price the estimated dividend yield is 5.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.88.

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: $2.25

Moelis rates ((GDG)) as No Rating (-1) –

Generation Development has announced it will acquire the remaining 61.9% of Lonsec Holdings for $197.4m, valuing Lonsec at $340m upfront enterprise value.

The acquisition is expected to be EPS accretive by high single-digit to low double-digit percentages in FY25. Moelis's financial forecasts reflect strong performance expectations with FY25 EBITDA anticipated to reach $34.7m.

Completion of the acquisition is expected by August 2024, subject to shareholder approvals.

Moelis is under research restriction due to involvement in Generation Development's capital raise.

This report was published on June 4, 2024.

Target price is $2.56 Current Price is $2.25 Difference: $0.31
If GDG meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).

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

GNC    GRAINCORP LIMITED

Agriculture – Overnight Price: $9.15

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

Wilsons highlights the ABARES June crop report forecasts a 16% increase in the 2024/25 ECA winter crop, adding an extra 3mt of grain to GrainCorp’s supply chain.

This has led to material upgrades in FY25 earnings, with EBITDA revised up by 14%. Financial forecasts for FY26 have also been adjusted, with EBITDA now expected to be up by 3%.

The broker notes the potential for significant surplus capital available for investment or capital management, supporting valuation and investor sentiment.

Wilsons maintains a Market Weight rating, with the price target lifting to $8.61 from $8.27.

This report was published on June 5, 2024.

Target price is $8.61 Current Price is $9.15 Difference: minus $0.54 (current price is over target).
If GNC meets the Wilsons target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.70, suggesting upside of 6.0%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 48.00 cents and EPS of 31.00 cents.
At the last closing share price the estimated dividend yield is 5.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.5, implying annual growth of -71.8%.
Current consensus DPS estimate is 39.3, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 29.0.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 52.00 cents and EPS of 56.80 cents.
At the last closing share price the estimated dividend yield is 5.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.3, implying annual growth of 62.9%.
Current consensus DPS estimate is 35.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 17.8.

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

IEL    IDP EDUCATION LIMITED

Education & Tuition – Overnight Price: $15.01

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

Goldman Sachs analysts have maintained a Buy rating for IDP Education alongside a price target of $25.30. The broker highlights FY24 EBIT is expected to be broadly in line with FY23, at circa $228m, which is -11% below the consensus estimate.

Despite a forecasted decline in IELTS volumes by -15-20%, Student Placement volumes are expected to grow by 15-20% YoY. The broker is optimistic about the company's ability to gain market share and sees solid growth in average fees as an offset to the softer volume environment.

Financial forecasts have been adjusted, with FY25 EPS revised down by -10%. The broker remains positive about IDP Education's long-term growth prospects amidst regulatory challenges.

This report was published on June 6, 2024.

Target price is $25.30 Current Price is $15.01 Difference: $10.29
If IEL meets the Goldman Sachs target it will return approximately 69% (excluding dividends, fees and charges).
Current consensus price target is $19.68, suggesting upside of 31.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 44.00 cents and EPS of 63.00 cents.
At the last closing share price the estimated dividend yield is 2.93%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 55.0, implying annual growth of 3.1%.
Current consensus DPS estimate is 41.6, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 27.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 47.00 cents and EPS of 67.00 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.40.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 54.8, implying annual growth of -0.4%.
Current consensus DPS estimate is 42.5, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 27.4.

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

MDR    MEDADVISOR LIMITED

Healthcare services – Overnight Price: $0.45

Moelis rates ((MDR)) as Buy (1) –

Moelis analysts have maintained a Buy rating for MedAdvisor while raising their price target to $0.58 from $0.40.

The broker highlights FY24 EBITDA guidance of $6.8-7.6m is ahead of previous estimates of $5m, driven by strong performance from the THRiV omni-channel product and high-margin transaction revenues in Australia.

The broker notes these developments have led to a revision in EPS forecasts for FY25/26 by 854%/330.8% (off small numbers).

Financial forecasts have been adjusted, with FY24 net profit expected to be $0.7m, rising to $5.0m in FY25. The broker remains optimistic about MedAdvisor’s growth prospects in the US and A&NZ markets.

This report was published on June 3, 2024.

Target price is $0.58 Current Price is $0.45 Difference: $0.13
If MDR meets the Moelis target it will return approximately 29% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 450.00.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.25.

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

NAN    NANOSONICS LIMITED

Medical Equipment & Devices – Overnight Price: $2.83

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

Wilsons notes the publication of the first data on CORIS, Nanosonics' endoscope channel cleaning device, in the Journal of Hospital Infection.

The study showed CORIS significantly reduced biofilm and other contaminants in endoscope channels compared to manual cleaning methods.

The broker recalls CORIS revenue is expected to commence in FY26, with an estimated $8.9m. Financial forecasts remain unchanged, reflecting confidence in CORIS's potential impact.

The de novo submission for CORIS is expected to be reviewed within 6-9 months from May 1st.

Overweight rating with price target at $3.45.

This report was published on June 5, 2024.

Target price is $3.45 Current Price is $2.83 Difference: $0.62
If NAN meets the Wilsons target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $3.30, suggesting upside of 16.6%(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 3.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 88.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 2.5, implying annual growth of -62.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 113.2.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 108.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, implying annual growth of 112.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 53.4.

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

SFR    SANDFIRE RESOURCES LIMITED

Copper – Overnight Price: $8.90

Jarden rates ((SFR)) as Neutral (3) –

Returning from a positive site visit, Jarden is now even more positive about Sandfire Resources' Motheo operation and adds two years of prospective mine life to its modeling (to 2034).

Production volume estimates have also been upgraded. Such a shame that A4 is still running behind schedule (their words).

The broker explains its Neutral rating is balancing between the underlying copper narrative and outlook, and the ongoing challenges that will need to be overcome.

Jarden's target price lifts to $7.40 from $6.80.

This report was published on May 31, 2024.

Target price is $7.40 Current Price is $8.90 Difference: minus $1.5 (current price is over target).
If SFR meets the Jarden target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $9.37, suggesting upside of 5.2%(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 minus 15.85 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 56.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.7, implying annual growth of N/A.
Current consensus DPS estimate is 1.1, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 54.55 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 62.6, implying annual growth of N/A.
Current consensus DPS estimate is 11.7, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 14.2.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

TWE    TREASURY WINE ESTATES LIMITED

Food, Beverages & Tobacco – Overnight Price: $11.97

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

Goldman Sachs observes the reaffirmation of FY24 EBITS guidance by Treasury Wine Estates, which is 2.5% above previous estimates, plus the encouraging performance of the Treasury Americas Luxury Estates segment.

Recent strategic initiatives, including a separate sales and marketing focus for US premium and luxury brands, are expected to drive growth.

Financial forecasts have been adjusted, with the group's FY24 EBITS now expected to be circa $660m. The broker remains optimistic about the continued premiumisation trend and its positive impact on margins.

Goldman Sachs analysts maintain a Buy rating while raising their price target to $13.00.

This report was published on June 5, 2024.

Target price is $13.00 Current Price is $11.97 Difference: $1.03
If TWE meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $13.54, suggesting upside of 13.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 34.00 cents and EPS of 51.00 cents.
At the last closing share price the estimated dividend yield is 2.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.47.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.6, implying annual growth of 50.7%.
Current consensus DPS estimate is 35.2, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 22.8.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 42.00 cents and EPS of 59.00 cents.
At the last closing share price the estimated dividend yield is 3.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.9, implying annual growth of 21.5%.
Current consensus DPS estimate is 42.6, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 18.7.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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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.

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