Daily Market Reports | 11:26 AM
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)
ASL AZJ BLX BPT (3) BXB CAR COL CWY CYL DEG DHG DSE (2) DSK EVN FEX FLT (2) GDG GMD HUB IFL ILU INR IPH IRE JIN KGN LIC LYC MAC MHJ NWH PDN PLS PNR PPE PPS QAN QBE QOR QUB REA S32 SEK SFX TLS TPG UNI (2) VNT WDS WES WHC WOW
DEG DE GREY MINING LIMITED
Gold & Silver - Overnight Price: $1.18
Canaccord Genuity rates ((DEG)) as Speculative Buy (1) -
De Grey Mining recently released a comprehensive Scoping Study evaluating the development potential of the Hemi Regional deposits located to the east and west of the Hemi Gold Project, Canaccord Genuity reports.
The study proposes the development of two regional mining centres, East and West, to be funded from operational cash flows from Hemi. Development of the regional deposits is proposed to commence in FY30.
While the broker is yet to model Hemi into its valuation, target rises to $2.45 from $2.35. Speculative Buy retained.
This report was published on July 18, 2024.
Target price is $2.45 Current Price is $1.18 Difference: $1.275
If DEG meets the Canaccord Genuity target it will return approximately 109% (excluding dividends, fees and charges).
Current consensus price target is $1.76, suggesting upside of 47.5%(ex-dividends)
Forecast for FY24:
Current consensus EPS estimate is -0.7, 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 N/A.
Forecast for FY25:
Current consensus EPS estimate is -1.8, 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.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DHG DOMAIN HOLDINGS AUSTRALIA LIMITED
Real Estate - Overnight Price: $3.13
Jarden rates ((DHG)) as Downgrade to Overweight from Buy (2) -
Jarden is looking for 16% revenue growth for Domain Holdings Australia when the company reports earnings on August 16 and the broker highlights its forecasts for the results are above consensus estimates.
In FY25 the analyst emphasises the geographic mix could be an earnings drag on the company.
The target price declines by -4% to $3.55 on an a valuation adjustment (higher risk-free rate) and the rating is downgraded to Overweight from Buy.
This report was published on July 18, 2024.
Target price is $3.55 Current Price is $3.13 Difference: $0.42
If DHG meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $3.24, suggesting upside of 2.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 4.30 cents and EPS of 8.60 cents.
At the last closing share price the estimated dividend yield is 1.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.2, implying annual growth of 98.1%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 38.4.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 4.10 cents and EPS of 8.30 cents.
At the last closing share price the estimated dividend yield is 1.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.2, implying annual growth of 12.2%.
Current consensus DPS estimate is 5.8, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 34.2.
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: $3.50
Canaccord Genuity rates ((DSE)) as Buy (1) -
Canaccord Genuity assesses a beakout 2Q for Dropsuite based on record quarterly net users growth and record direct/indirect partner additions.
Additionally, the broker notes a reduction in Managed Service Providers (MSP) churn to a historically low less than 3% generated a record incremental ARR improvement of US
The broker's Buy rating is retained, and the target rises to $4.50 from $4.00. In the interim since Canaccord's last research update (when the target was 40c) there has been a 1:10 share consolidation.
This report was published on July 23, 2024.
Target price is $4.50 Current Price is $3.50 Difference: $1
If DSE meets the Canaccord Genuity target it will return approximately 29% (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 1.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 184.21.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 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 109.38.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Petra Capital rates ((DSE)) as Buy (1) -
Dropsuite's June-quarter result appears to have pleased Petra Capital thanks to record net paid user growth, reduced churn rates, growth in the partner base and new product upgrades. Management retained earnings and cash flow guidance.
Annual recurring revenue rose 8% on the previous quarter (30% year on year).
While guidance was steady, the broker observes a clear kick up in momentum and the broker appreciates the balance sheet, a winning pair observes the broker. EPS forecasts are steady.
Buy rating reiterated. Target price rises to $3.65 from $3.20.
This report was published on July 23, 2024.
Target price is $3.65 Current Price is $3.50 Difference: $0.15
If DSE meets the Petra Capital target it will return approximately 4% (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 2.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 129.63.
Forecast for FY25:
Petra Capital forecasts a full year FY25 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 106.06.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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