Daily Market Reports | Jul 31 2024
This story features ANDEAN SILVER LIMITED, and other companies. For more info SHARE ANALYSIS: ASL
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
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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)
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
ASL ANDEAN SILVER LIMITED
Gold & Silver – Overnight Price: $0.70
Canaccord Genuity rates ((ASL)) as Speculative Buy (1) –
Andean Silver (formerly MMC) has released assays from its drill program at Pegaso 7, its Silver-Gold Project in Chile. While narrow, they are high grade with key intercepts and broadly in line with Canaccord Genuity’s expectations.
Andean Silver offers huge exploration upside over its 300km2 landholding. The broker sees scope for additional drill rigs to be added in the second half 2024 to test other of the many significant undrilled high grade surface veins.
Speculative Buy rating, $2.50 target.
This report was published on July 18, 2024.
Target price is $2.50 Current Price is $0.70 Difference: $1.8
If ASL meets the Canaccord Genuity target it will return approximately 257% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AZJ AURIZON HOLDINGS LIMITED
Transportation & Logistics – Overnight Price: $3.65
Jarden rates ((AZJ)) as Neutral (3) –
Prior to FY24 results on August 12, Jarden lowers its core EPS forecasts for Aurizon Holdings due to more modest growth expectations for the Bulk segment.
The broker explains management has recently noted weather and customer disruptions across the Bulk business, with Bulk-West likely also weak following a softer Agriculture (grain) market and volatility in iron ore.
The analysts expect much of this weakness in Bulk will be offset by stronger Coal and Network earnings.
The Neutral rating is maintained and target price slips to $3.75 from $3.95.
This report was published on July 19, 2024.
Target price is $3.75 Current Price is $3.65 Difference: $0.1
If AZJ meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.95, suggesting upside of 6.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 18.80 cents and EPS of 24.90 cents.
At the last closing share price the estimated dividend yield is 5.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.5, implying annual growth of 63.4%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 22.50 cents and EPS of 28.10 cents.
At the last closing share price the estimated dividend yield is 6.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of 15.1%.
Current consensus DPS estimate is 22.9, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 13.1.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BLX BEACON LIGHTING GROUP LIMITED
Furniture & Renovation – Overnight Price: $2.38
Jarden rates ((BLX)) as Overweight (2) –
Jarden sees Beacon Lighting as a “category killer”, with significant scope for market share gains that are positively exposed to a cyclical recovery in housing, which the broker expects in 2025.
That said, recent data have been mixed, owing to weaker housing activity, promotions, rates and weather, resulting in a -2% decline in Jarden’s second half earnings forecast.
The broker expects top-line growth to be driven by Trade near term, with stronger housing data key to driving upside surprise in Retail. Jarden remains positive on Beacon Lighting, with the view it has high-quality product and a strategy leading to market share gains.
Target falls to $2.80 from $2.90, Overweight retained.
This report was published on July 31, 2024.
Target price is $2.80 Current Price is $2.38 Difference: $0.42
If BLX meets the Jarden target it will return approximately 18% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 9.30 cents and EPS of 13.90 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 17.12.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 10.20 cents and EPS of 15.20 cents.
At the last closing share price the estimated dividend yield is 4.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.66.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BPT BEACH ENERGY LIMITED
Crude Oil – Overnight Price: $1.45
Canaccord Genuity rates ((BPT)) as Sell (5) –
Beach Energy delivered FY24 production and capex in line with guidance and consensus. The company continues to make progress with its key developments, Canaccord Genuity notes, and the commencement of Enterprise was positive.
During the quarter the company continued pre-commissioning activities for Waitsia and outlined key expectations with regard to first production.
However with the stock trading slightly above the broker’s net asset value, abandonment overhang and recent stumbles, Sell and $1.50 target retained.
This report was published on July 18, 2024.
Target price is $1.50 Current Price is $1.45 Difference: $0.05
If BPT meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.70, suggesting upside of 17.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 6.00 cents and EPS of 13.70 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.0, implying annual growth of -9.0%.
Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 6.00 cents and EPS of 13.30 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.1, implying annual growth of 38.1%.
Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 6.6.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((BPT)) as Overweight (2) –
Beach Energy’s June-quarter production pleased Jarden but sales missed the broker’s estimate by -7% (but met consensus) due to timing of liquid sales.
FY25 guidance was retained.
The broker appreciates the surprise record realised gas price of $10.30 GJ.
EPS forecasts fall -11.9% in FY24 and rise 4.1% in FY25. FY25 DPS falls -6.7% to 7c from 7.5c.
Neutral rating and $1.55 target price retained.
This report was published on July 19, 2024.
Target price is $1.55 Current Price is $1.45 Difference: $0.1
If BPT meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $1.70, suggesting upside of 17.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 4.00 cents and EPS of 13.20 cents.
At the last closing share price the estimated dividend yield is 2.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.0, implying annual growth of -9.0%.
Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 7.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 4.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.1, implying annual growth of 38.1%.
Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 6.6.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((BPT)) as Overweight (1) –
Beach Energy’s June-quarter result met consensus’ and Wilsons’ production and capital expenditure forecasts but revenue missed consensus and nosed out Wilsons.
From here, the broker says all eyes are on the Waitsia startup, reduced East coast market and organic growth opportunities and Otway production nominations.
Combined, the broker expects these factors will more than offset decommissioning at Otway and a slowing on the Western flank.
Overweight rating retained. Target price eases to $1.74 from $1.76.
This report was published on July 22, 2024.
Target price is $1.74 Current Price is $1.45 Difference: $0.29
If BPT meets the Wilsons target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.70, suggesting upside of 17.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 4.00 cents and EPS of 12.90 cents.
At the last closing share price the estimated dividend yield is 2.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.0, implying annual growth of -9.0%.
Current consensus DPS estimate is 3.4, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 9.1.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 5.90 cents and EPS of 19.30 cents.
At the last closing share price the estimated dividend yield is 4.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.1, implying annual growth of 38.1%.
Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 6.6.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics – Overnight Price: $15.30
Jarden rates ((BXB)) as Overweight (2) –
Prior to FY24 results for Brambles on August 21, Jarden raises its target to $15.90 from $15.70 on improving prospects (heading into FY25) for organic volume growth.
The analysts forecast 2% growth for the US Pallets business through FY25 and see another contribution of up to 2% price growth into FY25.
Jarden’s FY24 underlying EBIT estimate for Chep Americas of US$662m compares to the consensus forecast of US$672m.
The Overweight rating is maintained.
This report was published on July 19, 2024.
Target price is $15.90 Current Price is $15.30 Difference: $0.6
If BXB meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $16.43, suggesting upside of 6.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 73.09 cents and EPS of 82.09 cents.
At the last closing share price the estimated dividend yield is 4.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 90.3, implying annual growth of N/A.
Current consensus DPS estimate is 49.9, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 17.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 81.17 cents and EPS of 90.63 cents.
At the last closing share price the estimated dividend yield is 5.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 101.5, implying annual growth of 12.4%.
Current consensus DPS estimate is 56.6, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 15.2.
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
CAR CAR GROUP LIMITED
Automobiles & Components – Overnight Price: $34.03
Jarden rates ((CAR)) as Underweight (4) –
Jarden is not anticipating surprises in the CAR Group earnings report on August 12 and states its forecasts are in line with consensus.
There is the potential for a stronger Australian dollar to impact on forex and possibly the FY25 estimates the broker highlights, which has resulted in a -5% EPS estimate downgrade by Jarden for FY25.
The target price is lowered by -3% to $28 and the Underweight rating unchanged.
This report was published on July 18, 2024.
Target price is $28.00 Current Price is $34.03 Difference: minus $6.03 (current price is over target).
If CAR meets the Jarden target it will return approximately minus 18% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $38.10, suggesting upside of 11.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 72.50 cents and EPS of 91.80 cents.
At the last closing share price the estimated dividend yield is 2.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 91.4, implying annual growth of -49.6%.
Current consensus DPS estimate is 71.2, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 37.4.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 83.60 cents and EPS of 104.50 cents.
At the last closing share price the estimated dividend yield is 2.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.2, implying annual growth of 12.9%.
Current consensus DPS estimate is 80.6, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 33.1.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
COL COLES GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $17.96
Jarden rates ((COL)) as Neutral (3) –
Jarden observes the positive impact of retail media on US and UK retailers with Walmart and Sainsbury benefiting from the material contribution from the growth in retail media and the re-rating in stock prices.
The broker views Chemist Warehouse and Woolworths Group (Cartology) as the most developed in Australia. Coles Group, via Coles 360 and Wesfarmers are highlighted as having “untapped opportunity”.
The opportunity is estimated to be more than $800m in earnings before interest and tax (EBIT) for Coles Group and Woolworths Group over the next three years or greater than a 14% increase in EBIT.
Jarden retains a Neutral rating on Coles Group with a $16.90 target price.
This report was published on July 22, 2024.
Target price is $16.90 Current Price is $17.96 Difference: minus $1.06 (current price is over target).
If COL meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.33, suggesting upside of 1.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 65.00 cents and EPS of 81.50 cents.
At the last closing share price the estimated dividend yield is 3.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 80.2, implying annual growth of -4.1%.
Current consensus DPS estimate is 67.1, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 22.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 69.00 cents and EPS of 85.90 cents.
At the last closing share price the estimated dividend yield is 3.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.91.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 85.0, implying annual growth of 6.0%.
Current consensus DPS estimate is 70.4, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 21.2.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CWY CLEANAWAY WASTE MANAGEMENT LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $2.80
Jarden rates ((CWY)) as Overweight (2) –
Jarden forecasts underlying EBIT in FY24 of $355m (consensus $354m) when Cleanaway Waste Management reports on August 21.
For FY25, the market is forecasting underlying EBIT of $405m and the analysts estimate $406m.
The broker’s Overweight rating is retained and the target price rises to $3.00 from $2.85 on a valuation roll-forward.
This report was published on July 19, 2024.
Target price is $3.00 Current Price is $2.80 Difference: $0.2
If CWY meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.90, suggesting upside of 2.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 4.90 cents and EPS of 7.60 cents.
At the last closing share price the estimated dividend yield is 1.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 36.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.4, implying annual growth of 655.1%.
Current consensus DPS estimate is 5.1, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 38.2.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 5.80 cents and EPS of 9.70 cents.
At the last closing share price the estimated dividend yield is 2.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.87.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.4, implying annual growth of 27.0%.
Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 30.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CYL CATALYST METALS LIMITED
Gold & Silver – Overnight Price: $1.97
Canaccord Genuity rates ((CYL)) as Initiation of coverage with Speculative Buy (1) –
Canaccord Genuity initiates coverage on mid-tier domestic gold producer Catalyst Metals with a Speculative Buy rating and $2.60 target price.
The broker observes the turnaround of the company’s Plutonic project in Western Australia proved a “great success” and management is now focusing on the project’s latent mill capacity by developing Trident and Plutonic East.
Canaccord Genuity notes the company is highly leveraged to spot gold prices with zero hedging and strong operating leverage, and the broker believes the company’s balance sheet can self-fund its main growth prospects.
The broker forecasts the company will post a free cash-flow yield of 16% in FY25 and 29% in FY26. The company closed June 30 with $37m in cash and bullion and reduced debt of -$8m (from -$34m).
This report was published on July 22, 2024.
Target price is $2.60 Current Price is $1.97 Difference: $0.635
If CYL meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 23.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.54.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 46.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.27.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
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
DSK DUSK GROUP LIMITED
Household & Personal Products – Overnight Price: $0.84
Canaccord Genuity rates ((DSK)) as Upgrade to Buy from Hold (1) –
Dusk Group’s trading update showed improving sales performance through the second half, strong cash generation and, importantly for Canaccord Genuity, a move into positive same store sales through the last five trading weeks.
With the help of a new product activation, total sales are up 28% in the first two weeks of FY25. New management looks to have executed well in rejuvenating part of the product offer and being able to engage the consumer with promotional activity, the broker suggests.
Following a couple of years of material operating deleverage, Canaccord is intrigued by what may lay ahead. Upgrade to Buy from Hold. Target rises to $1.15 from 70c.
This report was published on July 18, 2024.
Target price is $1.15 Current Price is $0.84 Difference: $0.31
If DSK meets the Canaccord Genuity target it will return approximately 37% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 6.00 cents and EPS of 7.00 cents.
At the last closing share price the estimated dividend yield is 7.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.00.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 8.00 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 9.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.00.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EVN EVOLUTION MINING LIMITED
Gold & Silver – Overnight Price: $3.87
Canaccord Genuity rates ((EVN)) as Buy (1) –
Evolution Mining’s June Q gold production and costs were broadly in line with consensus. The company ended the quarter with $403m in cash and reduced its gearing to 25% from 33%, well within tolerable levels, Canaccord Genuity notes.
June was the strongest month operationally, boding well for a strong start to FY25. Cowal was the standout asset in the June Q and the broker expects it to be a key free cash flow contributor near term.
One drawback is that costs fluctuate wildly with copper price expectations given leverage, Canaccord notes. Cost inflation leads to a target price cut to $4.50 from $4.60, Buy retained.
This report was published on July 18, 2024.
Target price is $4.50 Current Price is $3.87 Difference: $0.63
If EVN meets the Canaccord Genuity target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.15, suggesting upside of 7.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 8.00 cents and EPS of 23.00 cents.
At the last closing share price the estimated dividend yield is 2.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.5, implying annual growth of 152.5%.
Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 17.2.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 5.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 1.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 42.0, implying annual growth of 86.7%.
Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 9.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FEX FENIX RESOURCES LIMITED
Iron Ore – Overnight Price: $0.43
Petra Capital rates ((FEX)) as Buy (1) –
Following on from the recently announced decision to recommission the Shine Iron Ore Mine, a positive Feasibility Study on the Beebyn-W11 deposit sets the pathway for Fenix Resources to have three iron ore mines in operation by the March Q 2025.
As a result, Petra Capital forecasts Fenix’s iron ore production increasing by 3x in FY26. Along with a growing portfolio of mining operations, Fenix’s road, rail and port infrastructure sees the miner rapidly establishing itself as a significant bulk commodity logistics provider in Mid-West WA.
Target falls to 48c from 49c, Buy retained.
This report was published on July 26, 2024.
Target price is $0.48 Current Price is $0.43 Difference: $0.045
If FEX meets the Petra Capital target it will return approximately 10% (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 3.20 cents and EPS of 6.30 cents.
At the last closing share price the estimated dividend yield is 7.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.90.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 3.90 cents and EPS of 7.80 cents.
At the last closing share price the estimated dividend yield is 8.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.58.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FLT FLIGHT CENTRE TRAVEL GROUP LIMITED
Travel, Leisure & Tourism – Overnight Price: $21.56
Goldman Sachs rates ((FLT)) as Sell (5) –
Flight Centre Travel reported an updated FY24 guidance range which excluded a -$4m loss from Discover Central Americas on the flagged pre tax profit range of $316m-$324m, which Goldman Sachs notes is just below the previous guidance range.
Management continues to envisage a positive outlook and a 2% profit before tax margin as well as higher revenue margins and stable cost margins.
Goldman Sachs remains cautious on Flight Centre Travel despite the market share gains in corporate and points to concerns on softer leisure which might be impacted by higher airfare deflation which is not offset sufficiently by volume growth.
Sell rating and $18.30 target unchanged.
This report was published on July 24, 2024.
Target price is $18.30 Current Price is $21.56 Difference: minus $3.26 (current price is over target).
If FLT meets the Goldman Sachs target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $25.92, suggesting upside of 19.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 48.00 cents and EPS of 93.00 cents.
At the last closing share price the estimated dividend yield is 2.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.0, implying annual growth of 315.0%.
Current consensus DPS estimate is 34.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 22.6.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 77.00 cents and EPS of 129.00 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 16.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 136.6, implying annual growth of 42.3%.
Current consensus DPS estimate is 51.2, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 15.9.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((FLT)) as Overweight (1) –
Flight Centre Travel emerges as Wilsons’ preferred sector pick on valuation, the broker believing the company has emerged transformed from covid, the company’s Corporate segment becoming a top-4 global travel management company.
The broker expects FY24 corporate total travel volume will be 40% above FY19 levels thanks to strong retention and large client wins, and spies 23% earnings (EBITDA) growth in FY25; and 11% in FY27.
Overweight rating retained. Target price rises to $28.96 from $26.53.
This report was published on July 22, 2024.
Target price is $28.96 Current Price is $21.56 Difference: $7.4
If FLT meets the Wilsons target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $25.92, suggesting upside of 19.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 27.20 cents and EPS of 103.30 cents.
At the last closing share price the estimated dividend yield is 1.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.87.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.0, implying annual growth of 315.0%.
Current consensus DPS estimate is 34.2, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 22.6.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 35.30 cents and EPS of 141.20 cents.
At the last closing share price the estimated dividend yield is 1.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.27.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 136.6, implying annual growth of 42.3%.
Current consensus DPS estimate is 51.2, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 15.9.
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: $2.59
Petra Capital rates ((GDG)) as Buy (1) –
Generation Developmen’s June-quarter trading update met Petra Capital’s forecasts, the company logging record investment bonds sales of $657m.
The broker observes the purchase of the balance of Lonsec provides earnings transparency and it expects regulatory tailwinds to ensue.
Funds under management rose 28.6% to $3.3bn and gross sales rose 30% in the June quarter to $197m. On the downside, investment performance fell -$57.8m in the quarter, taking the full year retreat to -$100m.
Buy rating retained. Target price rises to $2.78 from $2.46 in April. FY25 EPS forecasts fall.
This report was published on July 23, 2024.
Target price is $2.78 Current Price is $2.59 Difference: $0.19
If GDG meets the Petra Capital target it will return approximately 7% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 2.40 cents and EPS of 6.40 cents.
At the last closing share price the estimated dividend yield is 0.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 40.47.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 3.00 cents and EPS of 8.40 cents.
At the last closing share price the estimated dividend yield is 1.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.83.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GMD GENESIS MINERALS LIMITED
Gold & Silver – Overnight Price: $2.02
Canaccord Genuity rates ((GMD)) as Buy (1) –
Genesis Minerals’ June Q production was in line with Canaccord Genuity while costs were 6% higher, noting the inclusion of additional sustaining capex to establish long-life operations at Leonora.
FY24 production was in line with guidance. Genesis remains debt-free, and the broker notes discussions on establishing a prudent corporate debt facility are well advanced.
FY25 guidance is to be updated in September, incorporating earlier re-start at Laverton and accelerated production growth.
Buy and $3.15 target retained.
This report was published on July 18, 2024.
Target price is $3.15 Current Price is $2.02 Difference: $1.13
If GMD meets the Canaccord Genuity target it will return approximately 56% (excluding dividends, fees and charges).
Current consensus price target is $2.35, suggesting upside of 14.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 67.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.1, 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 50.0.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.6, implying annual growth of 231.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 15.1.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
HUB HUB24 LIMITED
Wealth Management & Investments – Overnight Price: $48.63
Moelis rates ((HUB)) as Hold (3) –
In line with the Moelis forecast, Hub24 achieved 4Q Platform net flows of $5.0bn, which included $1.8bn from the large Equity Trustees ((EQT)) transition portfolio.
Platform funds under administration (FUM) closed the quarter at $84.4bn (including a negative -$0.3bn market movement), notes the analyst. It’s felt management remains on track to meet its Platform FUA target range of between $92-100bn for FY25.
Hold rating. Target price of $49.85.
This report was published on July 19, 2024.
Target price is $49.85 Current Price is $48.63 Difference: $1.22
If HUB meets the Moelis target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $45.74, suggesting downside of -6.3%(ex-dividends)
Forecast for FY24:
Current consensus EPS estimate is 81.3, implying annual growth of 70.4%.
Current consensus DPS estimate is 38.6, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 60.0.
Forecast for FY25:
Current consensus EPS estimate is 108.2, implying annual growth of 33.1%.
Current consensus DPS estimate is 51.6, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 45.1.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IFL INSIGNIA FINANCIAL LIMITED
Wealth Management & Investments – Overnight Price: $2.69
Jarden rates ((IFL)) as Overweight (2) –
While Insignia Financial’s June Q Platform funds under management were in line with Jarden’s estimate, Asset Management FUM fell
-0.6% short of estimates, due largely to softer net inflows.
With the successful migration of MLC Wrap to Insignia’s Expand, Platform net outflows totalled -1.5% of FUA in the June Q and Jarden expects net flows to improve from here.
With an 8.1x forward PE appearing undemanding, the broker retains its Overweight rating. Target rises to $2.85 from $2.80.
This report was published on July 31, 2024.
Target price is $2.85 Current Price is $2.69 Difference: $0.16
If IFL meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $2.45, suggesting downside of -10.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 21.80 cents and EPS of 32.30 cents.
At the last closing share price the estimated dividend yield is 8.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.2, implying annual growth of 2396.0%.
Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 8.8.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 21.50 cents and EPS of 30.90 cents.
At the last closing share price the estimated dividend yield is 7.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 32.1, implying annual growth of 2.9%.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 8.5.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ILU ILUKA RESOURCES LIMITED
Mineral Sands – Overnight Price: $5.92
Goldman Sachs rates ((ILU)) as Buy (1) –
The June quarter mineral sands sales and revenue for Iluka Resources were -10% below the Goldman Sachs forecasts because of lower-than-expected synthetic rutile sales in the 2H24 and lower Ti02 prices. Zircon sales were in line with the broker’s estimates.
The funding gap for the Eneabba Rare Earth refinery remains with the Australian government at -$1.25bn and the company’s revised capex at -$1.7bn-$1.8bn.
Goldman Sachs adjusts EPS forecasts by -8% for FY24 and -3% for FY25. The target price is revised to $9 from $9.30 and the Buy rating retained.
This report was published on July 23, 2024.
Target price is $9.00 Current Price is $5.92 Difference: $3.08
If ILU meets the Goldman Sachs target it will return approximately 52% (excluding dividends, fees and charges).
Current consensus price target is $7.17, suggesting upside of 21.1%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 8.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 1.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.9, implying annual growth of -44.2%.
Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 13.2.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 46.00 cents and EPS of 41.00 cents.
At the last closing share price the estimated dividend yield is 7.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.8, implying annual growth of 59.9%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 8.2.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
INR IONEER LIMITED
New Battery Elements – Overnight Price: $0.13
Canaccord Genuity rates ((INR)) as Speculative Buy (1) –
ioneer has announced the results of a 12 hole drill program at the company’s Rhyolite Ridge lithium-boron project. Until recently, the Shelf Zone had been largely undrilled, however it is shaping up to bea highly prospective area for a starter pit, Canaccord Genuity suggests.
ioneer will integrate recent results into its updated ore Reserve estimate over the coming weeks and expects to make a final investment decision before the end of 2024 and commence construction in early 2025.
Speculative Buy and 35c target retained.
This report was published on July 18, 2024.
Target price is $0.35 Current Price is $0.13 Difference: $0.22
If INR meets the Canaccord Genuity target it will return approximately 169% (excluding dividends, fees and charges).
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IPH IPH LIMITED
Legal – Overnight Price: $5.98
Petra Capital rates ((IPH)) as Buy (1) –
Petra Capital reviews patent filings for the June half and finds IPH Ltd is falling behind market, the company posting relatively weak filings in the month of June vs the previous June.
The broker observes IPH has retained market share of 32% on a full-year view.
All up, Petra Capital determines while the company’s Australian filings eased year-on-year, it suspects the inclusion of transferred cases could see the balance shift to the black.
Buy rating retained. Target price falls to $8.20 from $10.50.
This report was published on July 24, 2024.
Target price is $8.20 Current Price is $5.98 Difference: $2.22
If IPH meets the Petra Capital target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $8.35, suggesting upside of 37.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Petra Capital forecasts a full year FY24 dividend of 33.80 cents and EPS of 43.30 cents.
At the last closing share price the estimated dividend yield is 5.65%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.81.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 45.0, implying annual growth of 57.2%.
Current consensus DPS estimate is 34.2, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 13.5.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 35.90 cents and EPS of 47.40 cents.
At the last closing share price the estimated dividend yield is 6.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.3, implying annual growth of 7.3%.
Current consensus DPS estimate is 36.4, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IRE IRESS LIMITED
Wealth Management & Investments – Overnight Price: $10.39
Wilsons rates ((IRE)) as Market Weight (3) –
Iress has raised June-half guidance to reflect strong cost controls and transformation windfalls, sharply outpacing Wilsons’ forecasts.
The broker observes sector mergers and acquisitions are heating up and considers Iress to be an attractive target and says rumours are circulating.
Market Weight rating retained, the broker awaiting for revenue improvements to join the strong cost story. Target price rises to $10.26 from $9.17.
This report was published on July 23, 2024.
Target price is $10.26 Current Price is $10.39 Difference: minus $0.13 (current price is over target).
If IRE meets the Wilsons target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.01, suggesting downside of -4.4%(ex-dividends)
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 41.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.34.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.5, implying annual growth of N/A.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 35.5.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 30.00 cents and EPS of 47.20 cents.
At the last closing share price the estimated dividend yield is 2.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.1, implying annual growth of -4.7%.
Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 37.3.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
JIN JUMBO INTERACTIVE LIMITED
Gaming – Overnight Price: $16.06
Wilsons rates ((JIN)) as Overweight (1) –
Wilsons marks Jumbo Interactive to market for the June half after total national draw lottery sales rose 14.9% for the year. The broker believes it will be hard to match this performance in FY25 but it’s possible.
Regardless, the broker appreciates Jumbo Interactive’s long-term earnings growth profile; rising contribution from SaaS and Managed Services segments; high returning capital light business model; and forecasts a 42% return on equity over FY24 to FY26.
Wilsons assumes steady system growth for the year, resulting in a -3% cut to FY25 earnings (EBITDA) forecasts.
EPS and DPS forecasts rise in FY24 and fall in FY25. Overweight rating retained. Target price eases to $18.73 from $18.87.
This report was published on July 22, 2024.
Target price is $18.73 Current Price is $16.06 Difference: $2.67
If JIN meets the Wilsons target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $17.17, suggesting upside of 6.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 59.50 cents and EPS of 69.80 cents.
At the last closing share price the estimated dividend yield is 3.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.9, implying annual growth of 43.3%.
Current consensus DPS estimate is 58.3, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 22.4.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 64.40 cents and EPS of 75.80 cents.
At the last closing share price the estimated dividend yield is 4.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 77.5, implying annual growth of 7.8%.
Current consensus DPS estimate is 61.9, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 20.8.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
KGN KOGAN.COM LIMITED
Retailing – Overnight Price: $4.24
Jarden rates ((KGN)) as Downgrade to Underweight from Neutral (4) –
Jarden lowers its target for Kogan.com to $4.30 from $5.40 and downgrades the rating to Underweight from Neutral due to a reduction in the broker’s terminal value growth rate to -3% from 3%.
The broker holds concerns around ongoing corporate governance and the long-term sustainability of the company’s business model.
Competition from Amazon and Temu endangers growth for Kogan First, suggests Jarden, pushing the company’s active users into structural decline. As the Kogan First membership price is increased, increased risk of churn is expected.
These views follow the ninth successive quarter of decline in active users in Q4, which overshadowed an around 4% earnings (EBITDA) beat against the analysts’ forecast.
This report was published on July 31, 2024.
Target price is $4.30 Current Price is $4.24 Difference: $0.06
If KGN meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $6.95, suggesting upside of 61.3%(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 17.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.9, implying annual growth of N/A.
Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 31.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 19.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.8, implying annual growth of 114.4%.
Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 14.5.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LIC LIFESTYLE COMMUNITIES LIMITED
Aged Care & Seniors – Overnight Price: $9.04
Canaccord Genuity rates ((LIC)) as Hold (3) –
Lifestyle Communities’ FY24 trading update met consensus and Canaccord Genuity’s forecasts but management has withdrawn guidance given the potential impact of negative media coverage, in which residents at Lifestyles Wollert Community in Melbourne cited dissatisfaction with exit fees, 80 of them submitting complaints to the Victorian Civil and Administrative Tribunal.
The company rejects the allegations and plans to defend itself.
The broker observes the time on market for established homes sold in FY24 had extended to 63 days from roughly 30-60 days and suspects this could continue to lengthen.
The broker cuts settlement forecasts sharply to reflect the delays and potential impact of media coverage. Earnings forecasts fall sharply across FY25 and FY26, and fall only slightly for FY24.
Hold rating retained. Target price falls to $10.10 from $13.15.
This report was published on July 22, 2024.
Target price is $10.10 Current Price is $9.04 Difference: $1.06
If LIC meets the Canaccord Genuity target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $11.53, suggesting upside of 28.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 9.00 cents and EPS of 50.10 cents.
At the last closing share price the estimated dividend yield is 1.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.04.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 46.5, implying annual growth of -40.3%.
Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 19.2.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 8.00 cents and EPS of 43.90 cents.
At the last closing share price the estimated dividend yield is 0.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 54.8, implying annual growth of 17.8%.
Current consensus DPS estimate is 12.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 16.3.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LYC LYNAS RARE EARTHS LIMITED
Rare Earth Minerals – Overnight Price: $6.09
Goldman Sachs rates ((LYC)) as Buy (1) –
Lynas Rare Earths remains on the conviction list for Goldman Sachs with a Buy rating and a $7 target price, revised from $7.50.
The company reported June quarter sales and revenue which were -10% below Goldman Sachs forecasts as management continues to focus on fulfilling contracted customer needs and not selling into the spot market.
Delays in concentrate shipments and a kiln failure impacted on the total rare earths production with a -40% decline in the quarter on the previous quarter.
The broker adjusts EPS forecasts by -21% for FY25 as lower revenue is offset by lower costs.
This report was published on July 23, 2024.
Target price is $7.00 Current Price is $6.09 Difference: $0.91
If LYC meets the Goldman Sachs target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $6.66, suggesting upside of 8.8%(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 7.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 85.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.6, implying annual growth of -80.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 92.7.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 6.00 cents and EPS of 21.80 cents.
At the last closing share price the estimated dividend yield is 0.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.0, implying annual growth of 157.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.0.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MAC METALS ACQUISITION LIMITED
Copper – Overnight Price: $19.25
Moelis rates ((MAC)) as Buy (1) –
Metals Acquisition’s June-quarter production nosed out Moelis’ forecasts thanks to a longer period of high-grade ore, which offset lower than forecast throughput, a natural plus for unit costs, observes the broker.
The company closed the quarter with US$86.6m in cash and US$317m in debt.
Moelis notes FY24 production is on course to hit the midpoint of FY24 guidance.
The broker reviews its cost assumptions, doubting absolute expenditure will fall from here but expecting more volume at no greater expense will lower overall unit costs. It also turns a cautious eye to the copper price.
Buy rating retained on valuation. Target price falls to $23 from $27, the broker considering its initial estimates to be too aggressive given consistent management commentary.
This report was published on July 23, 2024.
Target price is $23.00 Current Price is $19.25 Difference: $3.75
If MAC meets the Moelis target it will return approximately 19% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 18.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 102.94.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 120.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.99.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MHJ MICHAEL HILL INTERNATIONAL LIMITED
Luxury – Overnight Price: $0.57
Jarden rates ((MHJ)) as Overweight (2) –
Michael Hill’s FY24 trading update met Jarden’s forecasts, a tough consumer environment reining in growth.
Like-for-like sales fell in the June half (with NZ taking the brunt) but management provided positive commentary, reporting growth in its core brand in the last seven weeks of FY24.
The broker observes the profitability run rate improved and net debt rose sharply in the June half, the company consolidating its store footprint and gaining working capital muscle for Christmas.
Overweight rating retained, the company outperforming most industry benchmarks, observes the broker. Target price falls to NZ$0.72
This report was published on July 19, 2024.
Current Price is $0.57. Target price not assessed.
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 1.80 cents and EPS of 1.60 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 35.94.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 2.50 cents and EPS of 3.60 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 15.97.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NWH NRW HOLDINGS LIMITED
Mining Sector Contracting – Overnight Price: $3.29
Canaccord Genuity rates ((NWH)) as Buy (1) –
NRW Holdings’ trading update pointed to earnings above guidance, while the read-through for second half margins and cash conversion paints an upbeat picture, Canaccord Genuity suggests.
The company continues to expand on its track record of half-on-half growth while also enhancing the quality of its earnings. The outlook is robust, the valuation is still attractive, the broker believes, and there are potential positive catalysts in the near term.
Target rises to $3.47 from $3.06, Buy retained.
This report was published on July 18, 2024.
Target price is $3.47 Current Price is $3.29 Difference: $0.18
If NWH meets the Canaccord Genuity target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.12, suggesting downside of -5.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 14.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.17.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.9, implying annual growth of 41.5%.
Current consensus DPS estimate is 20.2, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 12.3.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 15.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.36.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of 4.8%.
Current consensus DPS estimate is 20.3, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 11.7.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PDN PALADIN ENERGY LIMITED
Uranium – Overnight Price: $11.07
Canaccord Genuity rates ((PDN)) as Buy (1) –
Paladin Energy’s June-quarter result met consensus and Canaccord Genuity’s forecasts and retained FY25 production and cost guidance.
Langer Heinrich delivered a maiden production and the restart project was on time and within budget. The company closed the quarter with unrestricted cash of US$48.9m and held undrawn debt facilities.
The Canadian government has approved Paladin’s Fission Uranium acquisition. Buy rating and $16.50 target price retained.
This report was published on July 22, 2024.
Target price is $16.50 Current Price is $11.07 Difference: $5.43
If PDN meets the Canaccord Genuity target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $16.29, suggesting upside of 50.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 2.59 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 426.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -12.8, 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.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 46.54 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.7, implying annual growth of N/A.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 18.4.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PLS PILBARA MINERALS LIMITED
New Battery Elements – Overnight Price: $2.79
Goldman Sachs rates ((PLS)) as Sell (5) –
Lower realised pricing offset higher than expected shipments on record spodumene production of 226kt which was above the Goldman Sachs forecast, as reported by Pilbara Minerals for its 4Q24 results.
The decline in net cash to $1.26bn suggests to the broker a return to dividends in the near term is unlikely.
The analyst revises earnings estimates with EPS down -3% for FY24 and -45% for FY25.
Sell rating remains as the stock trades at a premium to its peers and the target price is lowered to $2.40 from $2.60.
This report was published on July 24, 2024.
Target price is $2.40 Current Price is $2.79 Difference: minus $0.39 (current price is over target).
If PLS meets the Goldman Sachs target it will return approximately minus 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.01, suggesting upside of 8.2%(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 11.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.5, implying annual growth of -85.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 24.2.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 1.10 cents and EPS of 2.60 cents.
At the last closing share price the estimated dividend yield is 0.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 107.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.2, implying annual growth of -46.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 44.8.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO LIMITED
Gold & Silver – Overnight Price: $0.09
Petra Capital rates ((PNR)) as Buy (1) –
It was a strong performance in the last quarter of FY24 for Pantoro, Petra Capital notes, featuring record quarterly production. The Norseman processing plant is running above nameplate and most importantly, processed grades will lift from the current quarter.
Pantoro is targeting to add at least two more underground mines during the next two years to provide additional grade uplift.
Buy and 16c target retained.
This report was published on July 25, 2024.
Target price is $0.16 Current Price is $0.09 Difference: $0.075
If PNR meets the Petra Capital target it will return approximately 88% (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 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 42.50.
Forecast for FY25:
Petra Capital forecasts a full year FY25 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 4.47.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PPE PEOPLEIN LIMITED
Jobs & Skilled Labour Services – Overnight Price: $0.90
Wilsons rates ((PPE)) as Market Weight (3) –
Wilsons conviction in PeopleIN has faltered heading into the result following weak economic data and peer results over the past few months.
Seek ((SEK)) points to a fall in job ads, NAB’s business conditions indicator has deteriorated for four consecutive months and Hays’ and Manpower’s fee income fell in the June quarter, observes the broker.
EPS and DPS forecasts fall for FY24 and FY25. Market Weight rating retained. Target price falls to 98c from $1.16.
This report was published on July 22, 2024.
Target price is $0.98 Current Price is $0.90 Difference: $0.085
If PPE meets the Wilsons target it will return approximately 9% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 4.90 cents and EPS of 11.10 cents.
At the last closing share price the estimated dividend yield is 5.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.06.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 6.30 cents and EPS of 13.30 cents.
At the last closing share price the estimated dividend yield is 7.04%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.73.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PPS PRAEMIUM LIMITED
Wealth Management & Investments – Overnight Price: $0.48
Moelis rates ((PPS)) as Buy (1) –
Praemium’s highest revenue margin segment, SMA, continued strong levels of gross inflows in the 4Q, partially offset by seasonal June minimum pension drawdowns in advance of financial year-end, explains Moelis.
Also, gross outflows from transitioning advisers for the Powerwrap segment were around -$1bn for FY24, observes the broker.
Platform closing funds under administration (FUA)- ex-OneVue was $24bn (an 8.2% year-on-year-rise) compared to the analyst’s
$24.6bn forecast.
The Buy rating and 67c target are maintained.
This report was published on July 19, 2024.
Target price is $0.67 Current Price is $0.48 Difference: $0.185
If PPS meets the Moelis target it will return approximately 38% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of 1.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.53.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.05.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QAN QANTAS AIRWAYS LIMITED
Transportation & Logistics – Overnight Price: $6.18
Jarden rates ((QAN)) as Buy (1) –
With FY24 results for Qantas Airways due on August 29, Jarden is forecasting FY24 underlying profit before tax (PBT) of $2.08bn while consensus sits at $2.09bn.
The broker expects the journey to a multiple re-rating will be gradual and now relies upon investor sentiment rather than on earnings delivery.
The Buy rating is maintained and the target slips to $7.20 from $7.30.
This report was published on July 19, 2024.
Target price is $7.20 Current Price is $6.18 Difference: $1.02
If QAN meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $6.74, suggesting upside of 7.4%(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 88.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.3, implying annual growth of -8.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 7.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 25.30 cents and EPS of 101.40 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 6.09.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 97.9, implying annual growth of 10.9%.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 6.4.
Market Sentiment: 0.7
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: $17.65
Goldman Sachs rates ((QBE)) as Buy (1) –
Goldman Sachs addresses the Chubb 2Q2024 result to look for any indications for QBE Insurance and the broker concludes the CAT’s were pre-released by QBE Insurance in May so the Chubb CAT increase is less of a concern, ex June.
The broker highlights it is too early to make conclusions on crop outcomes for the year and a “favourable” North American operating environment is believed to be a positive in the context; cost inflation is not increasing.
A Buy rating and $21 target remain for QBE Insurance.
This report was published on July 25, 2024.
Target price is $21.00 Current Price is $17.65 Difference: $3.35
If QBE meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $19.50, suggesting upside of 8.8%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 60.00 cents and EPS of 175.47 cents.
At the last closing share price the estimated dividend yield is 3.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 180.5, implying annual growth of N/A.
Current consensus DPS estimate is 79.9, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 9.9.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 63.00 cents and EPS of 192.25 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 9.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 185.1, implying annual growth of 2.5%.
Current consensus DPS estimate is 80.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 9.7.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QOR QORIA LIMITED
Software & Services – Overnight Price: $0.35
Wilsons rates ((QOR)) as Overweight (1) –
Wilsons consider the 4Q24 result from Qoria as “solid” with annual recurring revenues rising 22% year-on-year which met the broker’s expectations; customer receipts were lower than forecast.
Moving to the September quarter, the analyst is more upbeat about renewed interest in the stock and management highlighted this quarter is usually 16%-20% of new business, and the December half generates over 60% of the year’s total cash receipts and should be cashflow positive.
New product improvements are also targeted for release in August/September.
An Overweight valuation is retained, and the target price adjusted to 46c from 48c.
This report was published on July 24, 2024.
Target price is $0.46 Current Price is $0.35 Difference: $0.105
If QOR meets the Wilsons target it will return approximately 30% (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 2.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.68.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 25.36.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QUB QUBE HOLDINGS LIMITED
Transportation & Logistics – Overnight Price: $3.78
Jarden rates ((QUB)) as Downgrade to Overweight from Buy (2) –
Jarden is expecting FY24 earnings growth of 10%-15% based on management guidance from Qube Holdings, with the company due to report earnings on August 22.
The broker anticipates management will provide qualitative FY25 guidance and the analyst forecasts net profit growth of 10% compared to consensus at 4%.
The rating is downgraded to Overweight from Buy and the target price raised to $4 from $3.70. No change to earnings forecasts.
This report was published on July 18, 2024.
Target price is $4.00 Current Price is $3.78 Difference: $0.22
If QUB meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $3.91, suggesting upside of 3.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 8.00 cents and EPS of 14.50 cents.
At the last closing share price the estimated dividend yield is 2.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.8, implying annual growth of 48.4%.
Current consensus DPS estimate is 9.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 25.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.70 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 2.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.4, implying annual growth of 4.1%.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 24.7.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
REA REA GROUP LIMITED
Real Estate – Overnight Price: $200.34
Jarden rates ((REA)) as Underweight (4) –
Jarden notes REA Group is due to report earnings on August 8 and the broker states its forecasts for FY24 earnings are above consensus estimates. Its FY25 forecasts sit below the market forecasts as the analyst is looking for listings to normalise.
The broker raises the FY24 volumes assumptions for the 2Q to 17% growth from 12% and his leads to a lift in the FY24 EBITDA forecast of 1.6%.
The target price is raised to $161 from $159 and the Underweight rating maintained.
This report was published on July 18, 2024.
Target price is $161.00 Current Price is $200.34 Difference: minus $39.34 (current price is over target).
If REA meets the Jarden target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $207.51, suggesting upside of 3.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 198.70 cents and EPS of 362.10 cents.
At the last closing share price the estimated dividend yield is 0.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 345.7, implying annual growth of 28.2%.
Current consensus DPS estimate is 192.5, implying a prospective dividend yield of 1.0%.
Current consensus EPS estimate suggests the PER is 58.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 228.10 cents and EPS of 419.90 cents.
At the last closing share price the estimated dividend yield is 1.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 47.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 433.9, implying annual growth of 25.5%.
Current consensus DPS estimate is 244.1, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 46.2.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
S32 SOUTH32 LIMITED
Mining – Overnight Price: $3.01
Goldman Sachs rates ((S32)) as Buy (1) –
South32’s June-quarter result broadly met Goldman Sachs’ production and unit-cost forecasts, and met FY24 guidance on all operating assets save Worsley alumina where realised pricing lagged the broker’s forecast by -5%.
The broker estimates the company posted free cash flow of US$170m for the quarter, closing June 30 with net debt to US$760m.
The big disappointment came by way of FY25 production guidance, the outlooks for Worsley, Sierra Gorda and Cannington all falling short of expectations.
Worsley alumina environmental approvals from the WA EPA also proved a downer, the company determining that specified conditions, if imposed, would create operating challenges. Management plans to appeal by July 29.
EPS forecasts fall -41% in FY24; -11% in FY25; and -6% in FY26 to reflect lower guidance and higher forecast long-term costs at Worsley.
Buy rating retained on valuation after a recent sharp share price retreat. Target price falls -14% to $3.70.
This report was published on July 23, 2024.
Target price is $3.70 Current Price is $3.01 Difference: $0.69
If S32 meets the Goldman Sachs target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $3.71, suggesting upside of 22.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 4.73 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 1.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.5, implying annual growth of N/A.
Current consensus DPS estimate is 4.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.4.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 15.72 cents and EPS of 39.52 cents.
At the last closing share price the estimated dividend yield is 5.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.0, implying annual growth of 181.5%.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 7.9.
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
SEK SEEK LIMITED
Jobs & Skilled Labour Services – Overnight Price: $20.78
Jarden rates ((SEK)) as Buy (1) –
Seek is due to report FY24 earnings on August 13 and Jarden envisages a negligible chance of the results missing expectations as management reiterated guidance in June.
The broker expects the results to come in at the bottom end of the guidance range and there is scope for volumes to fall in FY25 due to the higher base effect of the 1H24, Jarden highlights.
Seek remains the preferred stock in the classifieds sector with a Buy rating and a $28 target price, revised from $28.50.
This report was published on July 18, 2024.
Target price is $28.00 Current Price is $20.78 Difference: $7.22
If SEK meets the Jarden target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $27.28, suggesting upside of 30.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 35.60 cents and EPS of 55.60 cents.
At the last closing share price the estimated dividend yield is 1.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 56.2, implying annual growth of -80.5%.
Current consensus DPS estimate is 37.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 37.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 47.20 cents and EPS of 72.70 cents.
At the last closing share price the estimated dividend yield is 2.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 66.1, implying annual growth of 17.6%.
Current consensus DPS estimate is 47.8, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 31.5.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SFX SHEFFIELD RESOURCES LIMITED
Mineral Sands – Overnight Price: $0.31
Petra Capital rates ((SFX)) as Buy (1) –
Sheffield Resources’ June-quarter result appears to have broadly met Petra Capital’s forecasts, zircon pricing proving a -3% miss and revenue a 3% beat, due to a favourable sales mix, observes the broker.
C1 costs rose $3m to $55.6m. The company closed the quarter with $18m in cash, as expected, and management guided to positive operating cash flow in the September quarter.
Buy rating and 68c target price retained.
This report was published on July 24, 2024.
Target price is $0.68 Current Price is $0.31 Difference: $0.37
If SFX meets the Petra Capital target it will return approximately 119% (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 11.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 2.82.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.92.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TLS TELSTRA GROUP LIMITED
Telecommunication – Overnight Price: $3.90
Jarden rates ((TLS)) as Buy (1) –
Jarden anticipates the market might be underestimating the provision for restructuring costs at the upcoming earnings report on August 15.
The broker forecasts the bulk of the costs (-$200m-$250m) to be included in the FY24 results and the analyst has also adjusted for the recent mobile price increases, which raises the FY25 EPS estimate by 2.5%.
The target price is raised to $4.20 and the Buy rating unchanged.
This report was published on July 18, 2024.
Target price is $4.20 Current Price is $3.90 Difference: $0.3
If TLS meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $4.12, suggesting upside of 5.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 18.00 cents and EPS of 16.10 cents.
At the last closing share price the estimated dividend yield is 4.62%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.7, implying annual growth of 6.0%.
Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 22.1.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 18.50 cents and EPS of 18.60 cents.
At the last closing share price the estimated dividend yield is 4.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.8, implying annual growth of 6.2%.
Current consensus DPS estimate is 18.9, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 20.9.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TPG TPG TELECOM LIMITED
Telecommunication – Overnight Price: $4.70
Jarden rates ((TPG)) as Overweight (2) –
Jarden highlights TPG Telecom is due to report 1H2024 earnings on August 30 and the broker is looking for 4% revenue growth and a -14% decline in net profit.
The analyst envisages upside risks to the forecast Postpaid average revenue per user and possible downside risks to the group’s fixed overheads.
The Overweight rating is retained and the target price lowered to $5.25 from $5.30.
This report was published on July 18, 2024.
Target price is $5.25 Current Price is $4.70 Difference: $0.55
If TPG meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.18, suggesting upside of 10.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 18.00 cents and EPS of 14.10 cents.
At the last closing share price the estimated dividend yield is 3.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 33.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.2, implying annual growth of 551.5%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 27.4.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 18.60 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 3.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.8, implying annual growth of 9.3%.
Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 25.1.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
UNI UNIVERSAL STORE HOLDINGS LIMITED
Apparel & Footwear – Overnight Price: $5.75
Jarden rates ((UNI)) as Overweight (2) –
Universal Store is growing too quickly and offers better quality for the current PE multiple implied, Jarden believes. It trades at a significant discount to Accent ((AX1)), Premier Investments ((PMV)) and Lovisa Holdings ((LOV)) and the broker sees this as increasingly unjustified.
Jarden highlights Universal Store continues to demonstrate above market like-for-like sales growth. With the stock trading on a 0.8x price to earnings growth (PEG) multiple, Jarden reiterates a Buy rating and suggest investors consider upside potential from a re-rate.
Target rises to $6.47 from $5.20.
This report was published on July 31, 2024.
Target price is $6.47 Current Price is $5.75 Difference: $0.72
If UNI meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $6.50, suggesting upside of 12.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 EPS of 39.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.1, implying annual growth of 17.3%.
Current consensus DPS estimate is 25.1, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.2.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 46.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.2, implying annual growth of 16.0%.
Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((UNI)) as Overweight (1) –
Universal Store’s June-quarter trading update met consensus forecasts on sales (but missed Wilsons’ forecast by -3%) and outpaced consensus and the broker by 6% on earnings (EBIT) thanks to strong cost control and expanded gross margins.
The closure of non-performing Glue stores also flowed through to margins.
The broker appreciates the rise in June-quarter sales; the success of Perfect Strangers and its cost to company momentum since its acquisition; and expects there’s more upside to come.
Overweight rating retained. Target price rises 21% to $7.
This report was published on July 22, 2024.
Target price is $7.00 Current Price is $5.75 Difference: $1.25
If UNI meets the Wilsons target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $6.50, suggesting upside of 12.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 25.00 cents and EPS of 38.40 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 14.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.1, implying annual growth of 17.3%.
Current consensus DPS estimate is 25.1, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 15.2.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 28.40 cents and EPS of 47.30 cents.
At the last closing share price the estimated dividend yield is 4.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.2, implying annual growth of 16.0%.
Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
VNT VENTIA SERVICES GROUP LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $4.27
Canaccord Genuity rates ((VNT)) as Buy (1) –
Ventia Services has announced the securing of a six-year, $564m contract, with the Department of Defence for firefighting services, representing a continuation for Ventia.
The announcement of the firefighting contract maintains current contract renewal momentum, Canaccord Genuity notes, with Ventia having also recently secured three contracts with a total value of $820m, with all three set to begin between July and October 2024.
Buy and $4.40 target retained.
This report was published on July 18, 2024.
Target price is $4.40 Current Price is $4.27 Difference: $0.13
If VNT meets the Canaccord Genuity target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $4.10, suggesting downside of -5.1%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 20.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 4.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.5, implying annual growth of 10.4%.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 17.6.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 21.00 cents and EPS of 28.00 cents.
At the last closing share price the estimated dividend yield is 4.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.8, implying annual growth of 9.4%.
Current consensus DPS estimate is 20.6, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 16.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WDS WOODSIDE ENERGY GROUP LIMITED
NatGas – Overnight Price: $26.87
Jarden rates ((WDS)) as Neutral (3) –
Woodside Energy has announced it will pursue LNG growth via the acquisition of US-based LNG infrastructure developer Tellurian Inc, with the key asset being the proposed (but fully permitted) Driftwood LNG project, which could increase Woodside’s LNG production capacity by 50% by 2030.
However, the acquisition represents a pivot from the company’s traditional approach, Jarden notes. If Phase 1 proceeds it would add substantial Henry Hub price exposure to Woodside’s portfolio, more than half forecast free cash flow over the next five years.
This may impact the company’s 80% payout ratio to maintain gearing below 20%, the broker warns. Jarden believes it will take some time for the market to warm to the proposed transaction and retains a Neutral rating and $29.15 target.
This report was published on July 31, 2024.
Target price is $29.15 Current Price is $26.87 Difference: $2.28
If WDS meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $31.08, suggesting upside of 14.7%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 157.16 cents and EPS of 198.81 cents.
At the last closing share price the estimated dividend yield is 5.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 197.9, implying annual growth of N/A.
Current consensus DPS estimate is 156.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 13.7.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 163.26 cents and EPS of 221.85 cents.
At the last closing share price the estimated dividend yield is 6.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 180.0, implying annual growth of -9.0%.
Current consensus DPS estimate is 152.4, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 15.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WES WESFARMERS LIMITED
Consumer Products & Services – Overnight Price: $71.64
Jarden rates ((WES)) as Neutral (3) –
Jarden observes the positive impact of retail media on US and UK retailers with Walmart and Sainsbury benefiting from the material contribution from the growth in retail media and the re-rating in stock prices.
The broker views Chemist Warehouse and Woolworths Group (Cartology) as the most developed in Australia. Coles Group, via Coles 360 and Wesfarmers are highlighted as having “untapped opportunity”.
The opportunity is estimated to be more than $800m in earnings before interest and tax (EBIT) for Coles Group and Woolworths Group over the next three years or greater than a 14% increase in EBIT.
A Neutral rating and $60.70 target price are retained for Wesfarmers.
This report was published on July 23, 2024.
Target price is $60.70 Current Price is $71.64 Difference: minus $10.94 (current price is over target).
If WES meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $61.27, suggesting downside of -15.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 204.00 cents and EPS of 229.90 cents.
At the last closing share price the estimated dividend yield is 2.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 226.6, implying annual growth of 4.1%.
Current consensus DPS estimate is 193.7, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 32.0.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 230.00 cents and EPS of 245.00 cents.
At the last closing share price the estimated dividend yield is 3.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 29.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 245.4, implying annual growth of 8.3%.
Current consensus DPS estimate is 210.7, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 29.5.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WHC WHITEHAVEN COAL LIMITED
Coal – Overnight Price: $7.63
Goldman Sachs rates ((WHC)) as Neutral (3) –
Whitehaven Coal reported coal production of 8.3Mt for the June quarter versus the Goldman Sachs estimate of 7.4Mt due to the Narrabri thermal coal mine and the recently acquired Blackwater met coal mine.
Sales were -4% below the broker’s forecasts due to the rail problems in Qld which are now fixed.
Labour and equipment costs continued to rise lifting the unit costs for FY24 to $114t at the top end of revised guidance, the broker highlights.
Goldman Sachs revises EPS forecasts by -27% for FY24 and -1% for FY25.
Target price is lowered to $7.80 from $8.10 and the Neutral rating maintained.
This report was published on July 23, 2024.
Target price is $7.80 Current Price is $7.63 Difference: $0.17
If WHC meets the Goldman Sachs target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $9.56, suggesting upside of 26.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 12.00 cents and EPS of 78.00 cents.
At the last closing share price the estimated dividend yield is 1.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.78.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.1, implying annual growth of -70.1%.
Current consensus DPS estimate is 14.8, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 8.2.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 11.00 cents and EPS of 106.00 cents.
At the last closing share price the estimated dividend yield is 1.44%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 174.9, implying annual growth of 89.9%.
Current consensus DPS estimate is 23.4, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 4.3.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WOW WOOLWORTHS GROUP LIMITED
Food, Beverages & Tobacco – Overnight Price: $34.38
Jarden rates ((WOW)) as Overweight (2) –
Jarden observes the positive impact of retail media on US and UK retailers with Walmart and Sainsbury benefiting from the material contribution from the growth in retail media and the re-rating in stock prices.
The broker views Chemist Warehouse and Woolworths Group (Cartology) as the most developed in Australia. Coles Group, via Coles 360 and Wesfarmers are highlighted as having “untapped opportunity”.
The opportunity is estimated to be more than $800m in earnings before interest and tax (EBIT) for Coles Group and Woolworths Group over the next three years or greater than a 14% increase in EBIT.
An Overweight rating and a $39.90 target price are unchanged for Woolworths Group.
This report was published on July 23, 2024.
Target price is $39.90 Current Price is $34.38 Difference: $5.52
If WOW meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $34.42, suggesting downside of -0.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 108.00 cents and EPS of 148.00 cents.
At the last closing share price the estimated dividend yield is 3.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 138.8, implying annual growth of 4.2%.
Current consensus DPS estimate is 120.3, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 24.9.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 113.00 cents and EPS of 156.30 cents.
At the last closing share price the estimated dividend yield is 3.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 142.8, implying annual growth of 2.9%.
Current consensus DPS estimate is 104.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 24.2.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.
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