Weekly Reports | Aug 02 2024
This story features APPEN LIMITED, and other companies. For more info SHARE ANALYSIS: APX
Broker Rating Changes (Post Thursday Last Week)
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APPEN LIMITED ((APX)) Upgrade to Speculative Buy from Hold by Canaccord Genuity.B/H/S: 0/0/0
Canaccord Genuity raises its target for Appen to 80c from 60c and upgrades to Speculative Buy from Hold as revenues recovered strongly towards the end of the June quarter. Quartely revenue was US$55m compared to the broker’s US$49m forecast.
Offering light at the end of the tunnel, according to the broker, revenues rose to US$21.1m from $US15.9m in June, all following the loss of Google which exited as a customer in March. Closing cash at June 30 was US$34.7m, a rise of US$2m over the first half.
While this June revenue number run-rates to circa US$130m for the 2H, the analysts conservatively forecast US$117m.
Canaccord highlights the cash cost base continues to fall, with opex around -US$60m lower on an annualised basis in Q2 than the 1Q of FY23.
DUSK GROUP LIMITED ((DSK)) Upgrade to Buy from Hold by Canaccord Genuity.B/H/S: 0/0/0
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.
PEXA GROUP LIMITED ((PXA)) Upgrade to Buy from Neutral by Goldman Sachs.B/H/S: 0/0/0
Following recent June quarter reporting, Goldman Sachs reviews its forecasts for stocks under coverage within the Technology, Media, and Telecommunications (TMT) sector.
The broker raises its target for Pexa Group to $16 from $14.20 and upgrades to Buy from Neutral based on an improved outlook in the core domestic business, reflective of the ongoing recovery for property markets. The broker also rolls-forward its valuation model.
Milestones in the UK are also been progressively achieved, note the analysts.
SCIDEV LIMITED ((SDV)) Upgrade to Buy from Speculative Buy by Canaccord Genuity.B/H/S: 0/0/0
SciDev’s June-quarter report sharply outpaced Canaccord Genuity’s forecasts leading to a 2% beat on the broker’s FY24 revenue forecasts.
Earnings (EBITDA) proved a miss as did operating cash flow.
Free cash flow proved a strong beat and the company closed June 30 with a cash balance of $9.4m (the broker forecast $6.7m) with no debt, thanks in part to less capital expenditure and reduced earnout, observes the broker.
Canaccord Genuity forecasts a strong September given tender activity and secured pipeline. EPS forecasts rise 5% for FY25.
Rating is upgraded to Buy from Speculative Buy. Target price rises to 68c from 54c.
SANDFIRE RESOURCES LIMITED ((SFR)) Upgrade to Overweight from Market Weight by Wilsons.B/H/S: 0/0/0
Sandfire Resources’ June-quarter operations report broadly met revised guidance and consensus forecasts with operating costs nosing out Wilsons’ forecasts.
C1 costs at both Matsa and Motheo proved a sharp beat, the former due to operating costs and the latter to strong silver credits.
Earnings (EBITDA) outpaced thanks to strong sales.
Rating is upgraded to Overweight from Market Weight to reflect the recent share price retreat. Target price is steady at $9.90.
SPARK NEW ZEALAND LIMITED ((SPK)) Upgrade to Neutral from Sell by Goldman Sachs.B/H/S: 0/0/0
Following recent June quarter reporting, Goldman Sachs reviews its forecasts for stocks under coverage within the Technology, Media, and Telecommunications (TMT) sector.
The broker lowers its target for Spark New Zealand to NZ$4.50 from NZ$4.90 noting softer enterprise revenue is being partially offset by lower costs. The rating is upgraded to Neutral from Sell on valuation.
Goldman’s preference among A&NZ telcos is Telstra Group, while TPG Telecom is least preferred and is downgraded to Sell from Neutral.
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29METALS LIMITED ((29M)) Downgrade to Sell from Hold by Canaccord Genuity.B/H/S: 0/0/0
29Metals’ June-quarter result disappointed Canaccord Genuity despite an operational improvement at Golden Grove and a decent production beat on all metals save zinc and a consensus beat on costs (albeit a miss for the broker).
The big problem in the broker’s view was a failure to capitalise on strong base metals pricing with cash flow missing both consensus and Canaccord Genuity’s forecasts and a net draw-down of -US$10m in debt.
The company closed the quarter with net debt of $146m, up from $106m, and advised of a $27m stamp duty liability. While the company has sufficient liquidity, the broker observes the balance sheet is more precarious.
The broker forecasts challenging operating conditions due to a lack of consistency at Golden Grove on key financial metrics.
Rating is downgraded to Sell from Hold. Target price slumps to 34c from 44c.
ARGOSY MINERALS LIMITED ((AGY)) Downgrade to Hold from Buy by Petra Capital.B/H/S: 0/0/0
Argosy Minerals has suspended production at its Rincon lithium carbonate production facility in Argentina due to an inability to meet its nameplate production rates, observes Petra Capital.
The broker observes mechanical issues at the filtering stage have proven the project to be uneconomic given the small production base.
Management now turns its focus to cash conservation and developing its larger plants with better economies of scale.
FY24 EPS forecasts fall. FY25 EPS forecasts rise. Rating is downgraded to Hold from Buy. Target price slumps to 5c from 31c.
DOMAIN HOLDINGS AUSTRALIA LIMITED ((DHG)) Downgrade to Overweight from Buy by Jarden.B/H/S: 0/0/0
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.
KOGAN.COM LIMITED ((KGN)) Downgrade to Underweight from Neutral by Jarden.B/H/S: 0/0/0
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.
QUBE HOLDINGS LIMITED ((QUB)) Downgrade to Overweight from Buy by Jarden.B/H/S: 0/0/0
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.
TPG TELECOM LIMITED ((TPG)) Downgrade to Sell from Neutral by Goldman Sachs.B/H/S: 0/0/0
Following recent June quarter reporting, Goldman Sachs reviews its forecasts for stocks under coverage within the Technology, Media, and Telecommunications (TMT) sector.
The broker lowers its target for TPG Telecom to $4.35 from $4.90 on lower earnings forecasts and a lower assumed multiple. The rating is downgraded to Sell from Neutral.
Goldman’s preference among A&NZ telcos is for Telstra Group, while TPG Telecom is least preferred.
| Order | Company | New Rating | Old Rating | Broker | |
|---|---|---|---|---|---|
| Upgrade | |||||
| 1 | APPEN LIMITED | Neutral | Neutral | Canaccord Genuity | |
| 2 | DUSK GROUP LIMITED | Buy | Neutral | Canaccord Genuity | |
| 3 | PEXA GROUP LIMITED | Buy | Neutral | Goldman Sachs | |
| 4 | SANDFIRE RESOURCES LIMITED | Buy | Neutral | Wilsons | |
| 5 | SCIDEV LIMITED | Buy | Buy | Canaccord Genuity | |
| 6 | SPARK NEW ZEALAND LIMITED | Neutral | Sell | Goldman Sachs | |
| Downgrade | |||||
| 7 | 29METALS LIMITED | Sell | Neutral | Canaccord Genuity | |
| 8 | ARGOSY MINERALS LIMITED | Neutral | Buy | Petra Capital | |
| 9 | DOMAIN HOLDINGS AUSTRALIA LIMITED | Buy | Buy | Jarden | |
| 10 | KOGAN.COM LIMITED | Sell | Neutral | Jarden | |
| 11 | QUBE HOLDINGS LIMITED | Buy | Buy | Jarden | |
| 12 | TPG TELECOM LIMITED | Sell | Neutral | Goldman Sachs | |
Price Target Changes (Post Thursday Last Week)
| Company | Last Price | Broker | New Target | Old Target | Change | |
|---|---|---|---|---|---|---|
| 29M | 29Metals | $0.41 | Canaccord Genuity | 0.34 | 0.41 | -17.07% |
| Jarden | 0.33 | 0.28 | 17.86% | |||
| AGY | Argosy Minerals | $0.04 | Canaccord Genuity | 0.10 | 0.27 | -62.96% |
| Petra Capital | 0.05 | 0.30 | -83.33% | |||
| ALK | Alkane Resources | $0.44 | Petra Capital | 0.97 | 1.00 | -3.00% |
| APX | Appen | $0.78 | Canaccord Genuity | 0.80 | 3.20 | -75.00% |
| AZJ | Aurizon Holdings | $3.71 | Jarden | 3.75 | 3.95 | -5.06% |
| BCB | Bowen Coking Coal | $0.03 | Petra Capital | 0.08 | 0.12 | -33.33% |
| BLX | Beacon Lighting | $2.37 | Jarden | 2.80 | 2.90 | -3.45% |
| BPT | Beach Energy | $1.52 | Wilsons | 1.74 | 1.76 | -1.14% |
| BSL | BlueScope Steel | $21.94 | Jarden | 23.50 | 24.00 | -2.08% |
| BXB | Brambles | $15.53 | Jarden | 15.90 | 15.70 | 1.27% |
| CAR | CAR Group | $34.70 | Jarden | 28.00 | 29.00 | -3.45% |
| CRN | Coronado Global Resources | $1.44 | Goldman Sachs | 1.80 | 1.70 | 5.88% |
| CWY | Cleanaway Waste Management | $2.81 | Jarden | 3.00 | 2.85 | 5.26% |
| CXO | Core Lithium | $0.11 | Canaccord Genuity | 0.11 | 0.15 | -26.67% |
| DEG | De Grey Mining | $1.23 | Canaccord Genuity | 2.45 | 2.70 | -9.26% |
| DHG | Domain Holdings Australia | $3.26 | Goldman Sachs | 3.40 | 3.60 | -5.56% |
| Jarden | 3.55 | 3.70 | -4.05% | |||
| DLI | Delta Lithium | $0.24 | Canaccord Genuity | 0.50 | 0.70 | -28.57% |
| DSE | Dropsuite | $3.45 | Canaccord Genuity | 4.50 | 0.40 | 1025.00% |
| Petra Capital | 3.65 | 0.32 | 1040.63% | |||
| DSK | Dusk Group | $0.94 | Canaccord Genuity | 1.15 | 0.70 | 64.29% |
| EVN | Evolution Mining | $4.01 | Canaccord Genuity | 4.50 | 4.40 | 2.27% |
| Jarden | 3.19 | 2.84 | 12.32% | |||
| FEX | Fenix Resources | $0.42 | Petra Capital | 0.48 | 0.49 | -2.04% |
| FLT | Flight Centre Travel | $21.83 | Jarden | 24.00 | 23.50 | 2.13% |
| Wilsons | 28.96 | 26.53 | 9.16% | |||
| FMG | Fortescue | $18.99 | Goldman Sachs | 15.50 | 16.20 | -4.32% |
| GDG | Generation Development | $2.57 | Petra Capital | 2.78 | 2.46 | 13.01% |
| GL1 | Global Lithium Resources | $0.27 | Canaccord Genuity | 0.60 | 1.40 | -57.14% |
| GLN | Galan Lithium | $0.14 | Canaccord Genuity | 0.75 | 2.25 | -66.67% |
| GT1 | Green Technology Metals | $0.06 | Canaccord Genuity | 0.20 | 0.70 | -71.43% |
| HUB | Hub24 | $50.22 | Moelis | 49.85 | 41.50 | 20.12% |
| IFL | Insignia Financial | $2.77 | Jarden | 2.85 | 2.80 | 1.79% |
| IGO | IGO | $5.58 | Canaccord Genuity | 5.00 | 5.50 | -9.09% |
| ILU | Iluka Resources | $6.01 | Canaccord Genuity | 6.70 | 7.40 | -9.46% |
| Goldman Sachs | 9.00 | 9.30 | -3.23% | |||
| IMM | Immutep | $0.34 | Wilsons | 1.05 | 1.13 | -7.08% |
| IPH | IPH | $6.09 | Petra Capital | 8.20 | 10.50 | -21.90% |
| IRE | Iress | $10.55 | Wilsons | 10.26 | 9.17 | 11.89% |
| JIN | Jumbo Interactive | $16.22 | Wilsons | 18.73 | 18.87 | -0.74% |
| KGN | Kogan.com | $4.52 | Jarden | 4.30 | 5.40 | -20.37% |
| LIC | Lifestyle Communities | $9.16 | Canaccord Genuity | 10.10 | 16.15 | -37.46% |
| LKE | Lake Resources | $0.04 | Canaccord Genuity | 0.05 | 0.25 | -80.00% |
| LLL | Leo Lithium | Canaccord Genuity | 0.45 | 0.50 | -10.00% | |
| LNW | Light & Wonder | $167.30 | Jarden | 167.00 | 166.00 | 0.60% |
| LRS | Latin Resources | $0.15 | Canaccord Genuity | 0.60 | 0.65 | -7.69% |
| LYC | Lynas Rare Earths | $6.29 | Goldman Sachs | 7.00 | 7.50 | -6.67% |
| MAC | Metals Acquisition | $19.51 | Canaccord Genuity | 26.00 | 25.00 | 4.00% |
| Moelis | 23.00 | 27.00 | -14.81% | |||
| MP1 | Megaport | $11.22 | Goldman Sachs | 14.00 | 14.85 | -5.72% |
| MQG | Macquarie Group | $211.31 | Goldman Sachs | 194.47 | 183.82 | 5.79% |
| NEC | Nine Entertainment | $1.45 | Goldman Sachs | 1.90 | 2.10 | -9.52% |
| NST | Northern Star Resources | $14.21 | Goldman Sachs | 14.10 | 14.40 | -2.08% |
| NWH | NRW Holdings | $3.33 | Canaccord Genuity | 3.47 | 3.07 | 13.03% |
| NWL | Netwealth Group | $23.74 | Jarden | 17.75 | 17.30 | 2.60% |
| NWS | News Corp | $44.01 | Goldman Sachs | 48.70 | 44.70 | 8.95% |
| NXT | NextDC | $17.07 | Goldman Sachs | 19.00 | 16.60 | 14.46% |
| OBM | Ora Banda Mining | $0.44 | Canaccord Genuity | 0.51 | 0.52 | -1.92% |
| Moelis | 0.47 | 0.46 | 2.17% | |||
| OML | oOh!media | $1.46 | Goldman Sachs | 1.50 | 1.67 | -10.18% |
| PDN | Paladin Energy | $11.66 | Canaccord Genuity | 16.50 | 15.90 | 3.77% |
| PLS | Pilbara Minerals | $3.06 | Canaccord Genuity | 4.00 | 4.25 | -5.88% |
| Goldman Sachs | 2.40 | 2.60 | -7.69% | |||
| PME | Pro Medicus | $144.32 | Goldman Sachs | 148.00 | 136.00 | 8.82% |
| PNV | PolyNovo | $2.72 | Wilsons | N/A | 2.65 | -100.00% |
| PPE | PeopleIN | $0.88 | Wilsons | 0.98 | 1.16 | -15.52% |
| PPT | Perpetual | $21.88 | Jarden | 21.75 | 24.00 | -9.38% |
| PRN | Perenti | $1.04 | Canaccord Genuity | 1.28 | 1.25 | 2.40% |
| PSC | Prospect Resources | $0.11 | Canaccord Genuity | 0.30 | 0.13 | 130.77% |
| PXA | Pexa Group | $14.15 | Goldman Sachs | 16.00 | 14.20 | 12.68% |
| QAN | Qantas Airways | $6.34 | Jarden | 7.20 | 7.30 | -1.37% |
| QBE | QBE Insurance | $17.91 | Goldman Sachs | 21.00 | 20.60 | 1.94% |
| QOR | Qoria | $0.36 | Wilsons | 0.46 | 0.48 | -4.17% |
| QUB | Qube Holdings | $3.77 | Jarden | 4.00 | 3.70 | 8.11% |
| REA | REA Group | $204.07 | Goldman Sachs | 223.00 | 202.00 | 10.40% |
| Jarden | 161.00 | 159.00 | 1.26% | |||
| S32 | South32 | $3.14 | Goldman Sachs | 3.70 | 4.30 | -13.95% |
| SDR | SiteMinder | $5.59 | Goldman Sachs | 5.70 | 5.50 | 3.64% |
| SDV | SciDev | $0.51 | Canaccord Genuity | 0.68 | 0.54 | 25.93% |
| SEK | Seek | $22.55 | Jarden | 28.00 | 28.50 | -1.75% |
| SGF | SG Fleet | $3.16 | Canaccord Genuity | 3.65 | 3.58 | 1.96% |
| SMR | Stanmore Resources | $3.67 | Petra Capital | 5.73 | 5.77 | -0.69% |
| SOM | SomnoMed | $0.40 | Wilsons | 0.36 | 0.23 | 56.52% |
| SWM | Seven West Media | $0.18 | Goldman Sachs | 0.14 | 0.24 | -41.67% |
| SYA | Sayona Mining | $0.03 | Canaccord Genuity | 0.05 | 0.06 | -16.67% |
| Petra Capital | 0.15 | 0.14 | 7.14% | |||
| TLS | Telstra Group | $3.95 | Jarden | 4.20 | 4.00 | 5.00% |
| TLX | Telix Pharmaceuticals | $19.35 | Jarden | 22.49 | 16.62 | 35.32% |
| TPG | TPG Telecom | $4.65 | Goldman Sachs | 4.35 | 4.90 | -11.22% |
| Jarden | 5.25 | 5.30 | -0.94% | |||
| UNI | Universal Store | $6.03 | Jarden | 6.47 | 5.20 | 24.42% |
| Wilsons | 7.00 | 5.80 | 20.69% | |||
| WC8 | Wildcat Resources | $0.27 | Canaccord Genuity | 0.60 | 1.00 | -40.00% |
| WDS | Woodside Energy | $28.02 | Jarden | 28.50 | 29.15 | -2.23% |
| WES | Wesfarmers | $73.72 | Jarden | 60.70 | 58.60 | 3.58% |
| WHC | Whitehaven Coal | $7.79 | Goldman Sachs | 7.80 | 8.10 | -3.70% |
| WR1 | Winsome Resources | $0.59 | Canaccord Genuity | 1.75 | 1.90 | -7.89% |
| Company | Last Price | Broker | New Target | Old Target | Change | |
More Highlights
ATA ATTURRA LIMITED
Software & Services Overnight Price: $0.81
Moelis rates ((ATA)) as Initiation of coverage with Buy (1)
Moelis initiates coverage on IT Services provider Attura, which services the defence, government, utilities, education, financial services and manufacturing sectors.
The broker estimates the company can achieve a roughly 13% EPS compound annual growth rate between FY24 and FY27 due to: increased share of existing client base’s budgets; a growing service offering and new capabilities; and inorganic growth opportunities (it has a strategy of 50:50 organic and inorganic growth).
Buy rating and $1.25 target price.
This report was published on July 25, 2024.
Target price is $1.25 Current Price is $0.81 Difference: $0.44
If ATA meets the Moelis target it will return approximately 54% (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 5.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.58.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 5.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.46.
Market Sentiment: 1.0
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
DSE DROPSUITE LIMITED
Cloud services Overnight Price: $3.51
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.
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 22, 2024.
Target price is $4.50 Current Price is $3.51 Difference: $0.99
If DSE meets the Canaccord Genuity target it will return approximately 28% (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 184.74.
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 109.69.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
QOR QORIA LIMITED
Software & Services Overnight Price: $0.36
Canaccord Genuity rates ((QOR)) as Buy (1)
Canaccord Genuity assesses strong underlying momentum in key 4Q operating metrics for Qoria. It’s felt the stage is set for strong annual recurring revenue (ARR) growth and operating leverage in FY25 and FY26.
Normalised ARR of $122m came in ahead of the $117-120m guidance range and the broker’s $117m forecast partly driven by new customer growth and cross-sell/upsell from an expanded product offering.
The free cash flow (FCF) loss of -$19m was broadly in line with market expectations, note the analysts.
The Buy rating and 50c target are retained.
This report was published on July 24, 2024.
Target price is $0.50 Current Price is $0.36 Difference: $0.14
If QOR meets the Canaccord Genuity target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.83.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 20.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SGLLV RICEGROWERS LIMITED
Food, Beverages & Tobacco Overnight Price: $8.58
Canaccord Genuity rates ((SGLLV)) as Buy (1)
Canaccord Genuity believes SunRice’s acquisition of SavourLife, a premium dog food company, is a strategic expansion into the branded companion animal market.
SavourLife will be integrated into SunRice’s CopRice business, with the transaction expected to close by 30 August 2024 and the broker notes the acquisition will be funded by existing cash reserves and available debt facilities.
Canaccord Genuity forecasts the acquisition will be relatively earnings neutral and low risk as SunRice is already a manufacturer for the SavourLife dog food range and it believes there will be synergies in streamlined supply chains and distribution.
The broker rates Ricegrowers as Buy with an unchanged $10 target.
This report was published on July 23, 2024.
Target price is $10.00 Current Price is $8.58 Difference: $1.42
If SGLLV meets the Canaccord Genuity target it will return approximately 17% (excluding dividends, fees and charges).
The company’s fiscal year ends in April.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 55.00 cents and EPS of 104.00 cents.
At the last closing share price the estimated dividend yield is 6.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.25.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 57.00 cents and EPS of 105.00 cents.
At the last closing share price the estimated dividend yield is 6.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.17.
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
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CHARTS
For more info SHARE ANALYSIS: 29M - 29METALS LIMITED
For more info SHARE ANALYSIS: AGY - ARGOSY MINERALS LIMITED
For more info SHARE ANALYSIS: APX - APPEN LIMITED
For more info SHARE ANALYSIS: DHG - DOMAIN HOLDINGS AUSTRALIA LIMITED
For more info SHARE ANALYSIS: DSK - DUSK GROUP LIMITED
For more info SHARE ANALYSIS: KGN - KOGAN.COM LIMITED
For more info SHARE ANALYSIS: PXA - PEXA GROUP LIMITED
For more info SHARE ANALYSIS: QUB - QUBE HOLDINGS LIMITED
For more info SHARE ANALYSIS: SDV - SCIDEV LIMITED
For more info SHARE ANALYSIS: SFR - SANDFIRE RESOURCES LIMITED
For more info SHARE ANALYSIS: SPK - SPARK NEW ZEALAND LIMITED
For more info SHARE ANALYSIS: TPG - TPG TELECOM LIMITED