Daily Market Reports | 11:00 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
360 ANZ AOV APA AVH AZJ COE CSL JHX NCK NEU NWL TWE WDS
360 LIFE360 INC
Software & Services - Overnight Price: $17.79
Canaccord Genuity rates ((360)) as Buy (1) -
Canaccord Genuity observes Life360 reported "solid" results for the 2Q2024 and the first as a listed US company.
Monthly active users advanced to around 70.6m, some 2% above consensus and meeting the broker's expectations.
Paying circles, revenue were better than consensus forecasts.
Management's updated 2024 guidance was higher than anticipated. Canaccord Genuity raises the EPS forecasts by 5.5% for 2024 and 24.2% for 2025.
Target price is US$40, unchanged with a Buy rating.
This report was published on August 12, 2024.
Current Price is $17.79. Target price not assessed.
Current consensus price target is $20.09, suggesting upside of 12.9%(ex-dividends)
The company's fiscal year ends in December.
Forecast for FY24:
Canaccord Genuity forecasts a full year FY24 EPS of minus 0.44 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4024.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 90.8.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 EPS of 0.17 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10589.29.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 48.2, implying annual growth of 145.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.9.
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
ANZ ANZ GROUP HOLDINGS LIMITED
Banks - Overnight Price: $28.73
Goldman Sachs rates ((ANZ)) as Buy (1) -
Goldman Sachs adjusts EPS forecasts and tweaks the ANZ Bank target price to $29.42 for management's updated CET1 ratio due to the Suncorp Bank acquisition.
Buy rated and $29.42 target price.
This report was published on August 12, 2024.
Target price is $29.42 Current Price is $28.73 Difference: $0.69
If ANZ meets the Goldman Sachs target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $27.66, suggesting downside of -3.7%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 166.00 cents and EPS of 223.00 cents.
At the last closing share price the estimated dividend yield is 5.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 225.7, implying annual growth of -4.7%.
Current consensus DPS estimate is 165.0, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 12.7.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 166.00 cents and EPS of 225.00 cents.
At the last closing share price the estimated dividend yield is 5.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 223.9, implying annual growth of -0.8%.
Current consensus DPS estimate is 167.3, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.8.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AOV AMOTIV LIMITED
Automobiles & Components - Overnight Price: $10.59
Canaccord Genuity rates ((AOV)) as Buy (1) -
Out of GUD Holdings, Amotiv is born with the company expected to set a new five year strategic direction, according to Canaccord Genuity.
The broker revises the target price to $14.40 from $14.60 as a result of earnings forecast changes.
Buy rated.
This report was published on August 9, 2024.
Target price is $14.40 Current Price is $10.59 Difference: $3.81
If AOV meets the Canaccord Genuity target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $12.92, suggesting upside of 22.0%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 50.00 cents and EPS of 90.00 cents.
At the last closing share price the estimated dividend yield is 4.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.77.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 85.0, implying annual growth of N/A.
Current consensus DPS estimate is 46.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 12.5.
Forecast for FY26:
Current consensus EPS estimate is 93.7, implying annual growth of 10.2%.
Current consensus DPS estimate is 47.1, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 11.3.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APA APA GROUP
Infrastructure & Utilities - Overnight Price: $7.91
Jarden rates ((APA)) as Overweight (2) -
In anticipation of FY24 results and FY25 guidance, Jarden forecasts a FY25 dividend of 57.5cps.
A key point will be the level of franking for FY25 dividends, suggests the broker, given management has flagged it expects tax paid to materially increase in FY25 compared to FY24.
Overweight rating. Target $8.70.
This report was published on August 9, 2024.
Target price is $8.70 Current Price is $7.91 Difference: $0.79
If APA meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $8.80, suggesting upside of 11.3%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 56.00 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 7.08%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 44.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.1, implying annual growth of -5.3%.
Current consensus DPS estimate is 56.0, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 37.5.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 57.50 cents and EPS of 19.80 cents.
At the last closing share price the estimated dividend yield is 7.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.8, implying annual growth of 3.3%.
Current consensus DPS estimate is 57.3, implying a prospective dividend yield of 7.2%.
Current consensus EPS estimate suggests the PER is 36.3.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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