Daily Market Reports | Aug 27 2024
This story features AIC MINES LIMITED, and other companies. For more info SHARE ANALYSIS: A1M
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)
A1M ALK APE (3) ASG (2) ATG AUB AUE BLX BOQ BRI BXB CAJ CKF COF DUG EBO EQT GEM GOZ HLS IAG IMD (2) INA IPH LAU LGL MP1 (2) MPL MVF NSR NST (2) OCL PNR PWR PXA QUB (2) RED RRL (2) SBM SCG SGM SKC SKT SLC SSM STN STO SUL (3) TLX TRS UNI (2) WGX WTC
A1M AIC MINES LIMITED
Gold & Silver – Overnight Price: $0.33
Moelis rates ((A1M)) as Buy (1) –
AIC Mines’ FY24 financial result broadly met Moelis’s forecasts, save for a lower net interest expense, which delivered a small beat on net profit after tax.
Moelis considers the company to be well-funded for its expansion after closing the year with cash of $74.3m and low debt ($5m equipment maintenance facility), and that copper output should materialise post June 2025.
Buy rating retained, the broker observing the company is trading at a heavy discount to net asset value. Target price eases to 64c from 65c.
This report was published on August 22, 2024.
Target price is $0.64 Current Price is $0.33 Difference: $0.31
If A1M meets the Moelis target it will return approximately 94% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.17.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.23.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ALK ALKANE RESOURCES LIMITED
Gold & Silver – Overnight Price: $0.40
Petra Capital rates ((ALK)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Alkane Resources rises by 16% to $1.13. Buy.
This report was published on August 22, 2024.
Target price is $1.13 Current Price is $0.40 Difference: $0.73
If ALK meets the Petra Capital target it will return approximately 182% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.06.
Forecast for FY26:
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components – Overnight Price: $10.07
Jarden rates ((APE)) as Overweight (2) –
While Eagers Automotive reported earnings 3% ahead of Jarden’s estimate, a weaker 1H24 result relative to consensus was due principally to slightly weaker gross and profit margins, with management flagging further minor margin compression in the near term.
It nevertheless appears Eagers is near the end of profit margin headwinds, the broker suggests, before the margin remains flat and
then improves.
With the industry likely at a cyclical low and management guiding for a long-term profit margin target of above 4.5%, well ahead of Jarden’s forecast 3% in outer years, the broker views the company as at a potential growth inflection point.
Target falls to $12.60 from $13.00, Overweight retained.
This report was published on August 23, 2024.
Target price is $12.60 Current Price is $10.07 Difference: $2.53
If APE meets the Jarden target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $11.89, suggesting upside of 18.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 61.00 cents and EPS of 94.30 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.7, implying annual growth of -16.3%.
Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 65.70 cents and EPS of 92.40 cents.
At the last closing share price the estimated dividend yield is 6.52%.
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 94.5, implying annual growth of 1.9%.
Current consensus DPS estimate is 66.4, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.7.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Moelis rates ((APE)) as Downgrade to Hold from Buy (3) –
Eagers Automotive’s June-half result nosed out guidance but Moelis observes gross profit margins disappointed, falling to 17.8% from 18.8% at December 31due to pressure on new car margins and excess BYD stock (cleared through discounting).
A jump in interest costs and inventory also hit profit before tax margins. Moelis spies little relief for margins over the next few years but suspects the company does have levers it can pull on the revenue and productivity front that could mitigate some of the impact.
Net operating cash flow fell -35% to $228m and the company closed the year with a strong balance sheet and net debt of $494.1m, observed Moelis.
On the upside, management retained FY24 guidance, forecasting more than $1bn topline growth advising demand remained robust.
EPS forecasts are downgraded -5% to -10% over FY24 and FY25 to reflect the margin-compression outlook.
Rating downgraded to Hold from Buy. Target price falls to $11.51 (it was $12.41 in June).
This report was published on August 22, 2024.
Target price is $11.51 Current Price is $10.07 Difference: $1.44
If APE meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $11.89, suggesting upside of 18.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 59.60 cents and EPS of 89.10 cents.
At the last closing share price the estimated dividend yield is 5.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.7, implying annual growth of -16.3%.
Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 59.30 cents and EPS of 85.80 cents.
At the last closing share price the estimated dividend yield is 5.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 94.5, implying annual growth of 1.9%.
Current consensus DPS estimate is 66.4, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.7.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((APE)) as Market Weight (3) –
Eagers Automotive’s June-half result met recent guidance but fell a touch shy of Wilsons’ forecasts due to a fall in margins and higher interest costs as industry competition intensified.
Management retains FY24 guidance, expecting revenue growth of more than $1bn derived from acquisitions and greenfield operations.
While the size of the margin decrease surprised Wilsons, the broker retains the faith, observing a more bumpy path toward margin normalisation.
EPS forecasts fall for FY24 and FY25. The broker cuts its dividend forecasts -3% in FY24; and -5% in FY25 to maintain a payout ratio of roughly 70%.
Market Weight rating retained. Target price rises to $10.87 from $10.47.
This report was published on August 23, 2024.
Target price is $10.87 Current Price is $10.07 Difference: $0.8
If APE meets the Wilsons target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $11.89, suggesting upside of 18.0%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Wilsons forecasts a full year FY24 dividend of 66.00 cents and EPS of 92.60 cents.
At the last closing share price the estimated dividend yield is 6.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.87.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.7, implying annual growth of -16.3%.
Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 68.90 cents and EPS of 96.60 cents.
At the last closing share price the estimated dividend yield is 6.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 94.5, implying annual growth of 1.9%.
Current consensus DPS estimate is 66.4, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 10.7.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ASG AUTOSPORTS GROUP LIMITED
Automobiles & Components – Overnight Price: $2.09
Moelis rates ((ASG)) as Downgrade to Hold from Buy (3) –
Autosports Group’s FY24 result missed consensus’ forecasts by -7% and Moelis’ forecasts by -14% (on a pre-AASB16 basis) as revenue fell and gross profit margins slumped to 19.5% from 20.1% with margin weakness skewed to the second half, observes the broker.
No FY25 guidance was provided but management expects the new car market will be subject to strong competition for some time.
Moelis attributes the margin fall to discounting arising from excess new car inventory. Operating cash flow fell -28% on the previous corresponding year, to $119.5m.
The broker expects the Stillwell Motor Group acquisition will be single-digit EPS accretive, funded from cash, and observes the company’s balance sheet should rule out further M&A for a year.
EPS forecasts fall -10% in FY25 and FY26 to reflect margin pressures.
Rating is downgraded to Hold from Buy. Target price falls to $2.30.
This report was published on August 22, 2024.
Target price is $2.30 Current Price is $2.09 Difference: $0.21
If ASG meets the Moelis target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $2.63, suggesting upside of 26.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 15.70 cents and EPS of 29.00 cents.
At the last closing share price the estimated dividend yield is 7.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of -6.9%.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 7.4.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 13.50 cents and EPS of 24.70 cents.
At the last closing share price the estimated dividend yield is 6.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.9, implying annual growth of 6.0%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 9.1%.
Current consensus EPS estimate suggests the PER is 7.0.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((ASG)) as Overweight (1) –
Autosports Group’s FY24 result missed Wilsons’ forecasts by a decent clip due to a sharp fall in gross margins as competitive pressures intensified.
No FY25 guidance was provided but management advised competition would continue to weigh on the company forcing it to introduce consumer incentives and marketing initiatives.
Used vehicle servicing, parts and collision repair revenue proved a bright spot, management expecting stable margins and costs on improved revenue.
The broker, while surprised, holds the faith, suspecting a more bumpy path to margin normalisation than expected.
Overweight rating retained. Target price falls to $3.41 from $3.69.
This report was published on August 23, 2024.
Target price is $3.41 Current Price is $2.09 Difference: $1.32
If ASG meets the Wilsons target it will return approximately 63% (excluding dividends, fees and charges).
Current consensus price target is $2.63, suggesting upside of 26.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 17.00 cents and EPS of 30.20 cents.
At the last closing share price the estimated dividend yield is 8.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.2, implying annual growth of -6.9%.
Current consensus DPS estimate is 17.0, implying a prospective dividend yield of 8.1%.
Current consensus EPS estimate suggests the PER is 7.4.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 19.00 cents and EPS of 34.30 cents.
At the last closing share price the estimated dividend yield is 9.09%.
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 29.9, implying annual growth of 6.0%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 9.1%.
Current consensus EPS estimate suggests the PER is 7.0.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ATG ARTICORE GROUP LIMITED
Retailing – Overnight Price: $0.39
Canaccord Genuity rates ((ATG)) as Buy (1) –
Articore Group’s FY24 result revealed improved adjusted EBITDA of $10m, ahead of Canaccord Genuity’s estimates. Revenue was in line with expectations.
The year was a period of stabilisation as the cost base was rejigged. Net cash improved to $37m and provides a buffer for volatile market conditions, the broker adds.
FY25 guidance is considered “somewhat muted”, implying FY25 revenue of around $424m and the business returning to growth. Buy rating and $1 target unchanged.
This report was published on August 21, 2024.
Target price is $1.00 Current Price is $0.39 Difference: $0.615
If ATG meets the Canaccord Genuity target it will return approximately 160% (excluding dividends, fees and charges).
Current consensus price target is $0.52, suggesting upside of 35.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 77.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -1.7, 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 FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.65.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -1.0, 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: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AUB AUB GROUP LIMITED
Insurance – Overnight Price: $32.33
Jarden rates ((AUB)) as Overweight (2) –
AUB Group reported FY24 earnings in line with Jarden.
While AUB’s FY25 underlying profit guidance is -5-7% below forecast, Jarden notes the company has a record of setting initial profit guidance conservatively, often upgrading multiple times through the financial year.
Over FY20-FY24, AUB’s FY results beat initial guidance by an average of 9%. FY25 guidance includes organic growth of 7-10%, which appears conservative in the broker’s view, given continued commercial rate momentum, minor volume growth and margin expansion.
Target rises to $33.75 from $33.20, Overweight retained.
This report was published on August 22, 2024.
Target price is $33.75 Current Price is $32.33 Difference: $1.42
If AUB meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $36.40, suggesting upside of 12.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 93.00 cents and EPS of 172.00 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 170.6, implying annual growth of 35.8%.
Current consensus DPS estimate is 91.8, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 19.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 106.00 cents and EPS of 194.00 cents.
At the last closing share price the estimated dividend yield is 3.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 184.1, implying annual growth of 7.9%.
Current consensus DPS estimate is 98.8, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 17.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AUE AURUM RESOURCES LIMITED
Overnight Price: $0.35
Petra Capital rates ((AUE)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Aurum Resources rises by 7% to 63 cents. Buy.
This report was published on August 22, 2024.
Target price is $0.63 Current Price is $0.35 Difference: $0.28
If AUE meets the Petra Capital target it will return approximately 80% (excluding dividends, fees and charges).
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: $2.60
Jarden rates ((BLX)) as Overweight (2) –
Beacon Lighting’s FY24 results proved its resilience, Jarden suggests, delivering a strong result against a challenging housing market
in which sales remain soft.
In a market in decline, Beacon still took market share across both retail and trade, the broker notes, accelerating trade growth and delivering growth in international.
While Jarden expects retail to remain soft near term and cost pressures to continue, the broker believes management continues to manage these well, with positive leverage from a stronger top line across other pillars.
Target falls to $2.70 from $2.80, Overweight retained.
This report was published on August 23, 2024.
Target price is $2.70 Current Price is $2.60 Difference: $0.1
If BLX meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.50 cents and EPS of 13.90 cents.
At the last closing share price the estimated dividend yield is 3.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.71.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 9.90 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 3.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.25.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BOQ BANK OF QUEENSLAND LIMITED
Banks – Overnight Price: $6.25
Goldman Sachs rates ((BOQ)) as Sell (5) –
Bank of Queensland will turn its 114 Owner Managed Branch network to corporate branches at a cost of -$115m-$125m, amortised over four years.
Management advises this should yield an annual cash net profit after tax benefit of $20m by FY26 and more thereafter, observes Goldman Sachs.
EPS forecasts rise 1.1% in FY24; fall -2.1% in FY25 and rise 0.1% iin FY26.
Sell rating retained, the broker appreciating the strategy but Goldman Sachs remains concerned about execution risk. Target price is $5.54.
This report was published on August 22, 2024.
Target price is $5.54 Current Price is $6.25 Difference: minus $0.71 (current price is over target).
If BOQ meets the Goldman Sachs target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.41, suggesting downside of -13.5%(ex-dividends)
The company’s fiscal year ends in August.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 33.00 cents and EPS of 45.00 cents.
At the last closing share price the estimated dividend yield is 5.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.7, implying annual growth of 129.2%.
Current consensus DPS estimate is 34.5, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.3.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 30.00 cents and EPS of 40.00 cents.
At the last closing share price the estimated dividend yield is 4.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.0, implying annual growth of 0.7%.
Current consensus DPS estimate is 35.6, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 14.2.
Market Sentiment: -0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BRI BIG RIVER INDUSTRIES LIMITED
Building Products & Services – Overnight Price: $1.49
Moelis rates ((BRI)) as Downgrade to Hold from Buy (3) –
Despite modest gearing, continued cash generation, and sound opex management, residential exposure continues to weigh on the Big River Industries with a partial offset via commercial activity, notes Moelis.
Broadly in-line FY24 results showed the earnings (EBITDA) margin compressed to 7.9% driven by lower volumes in frame and truss manufacturing, explains the broker.
Management’s shorter-term outlook commentary suggests to the analysts consumer confidence around residential will remain subdued, while the medium-term outlook is brighter based on demand, low vacancy rates, and expected interest rate falls.
A final fully franked 2 cent dividend represents a 78% payout on FY24 earnings.
The broker’s target falls to $1.68 from $2.00 and the rating is downgraded to Hold from Buy.
This report was published on August 23, 2024.
Target price is $1.68 Current Price is $1.49 Difference: $0.19
If BRI meets the Moelis target it will return approximately 13% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 6.50 cents and EPS of 10.30 cents.
At the last closing share price the estimated dividend yield is 4.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.47.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 8.60 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 5.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.66.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics – Overnight Price: $17.83
Jarden rates ((BXB)) as Overweight (2) –
Brambles reported the strongest results in “some time” for FY24 according to Jarden, with a 5% EPS beat against consensus.
The broker likes the growth in free cashflow over guidance in FY24 and the growth flagged for FY25, alongside capital management including a $500m buyback.
With concerns around CHEP America pallets now largely alleviated, Jarden thinks investors should refocus on volume growth for FY25, with a possible re-rating of the stock to its historical premium valuation on the back of the results and guidance.
Overweight rating unchanged. Target price lifted to $17.90 from $15.90.
This report was published on August 22, 2024.
Target price is $17.90 Current Price is $17.83 Difference: $0.07
If BXB meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $18.76, suggesting upside of 5.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 84.70 cents and EPS of 93.85 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 92.1, implying annual growth of N/A.
Current consensus DPS estimate is 57.9, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 19.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 92.02 cents and EPS of 102.07 cents.
At the last closing share price the estimated dividend yield is 5.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 104.2, implying annual growth of 13.1%.
Current consensus DPS estimate is 65.7, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 17.1.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CAJ CAPITOL HEALTH LIMITED
Healthcare services – Overnight Price: $0.31
Wilsons rates ((CAJ)) as Market Weight (3) –
Capitol Health’s FY24 result proved a mixed bag, revenue missing Wilsons’ forecasts by -2% and earnings (EBITDA) outpacing by 5%.
Operating margins rose 180 basis points to 21%, thanks to a strong uptick in the June half (21.6%) resulting from a higher modality mix and an improved billing mix.
In totality, it’s a beat, says Wilsons. No FY25 guidance or trading update was provided but management was optimistic on further margin expansion, observed the broker.
Market Weight rating retained. Target price rises to 32c (was 27c in June).
This report was published on August 23, 2024.
Target price is $0.32 Current Price is $0.31 Difference: $0.01
If CAJ meets the Wilsons target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $0.33, suggesting upside of 4.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 1.10 cents and EPS of 1.30 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.9, implying annual growth of N/A.
Current consensus DPS estimate is 1.0, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 1.0.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 1.10 cents and EPS of 1.50 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 39.8, implying annual growth of 24.8%.
Current consensus DPS estimate is 1.2, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 0.8.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CKF COLLINS FOODS LIMITED
Food, Beverages & Tobacco – Overnight Price: $7.64
Wilsons rates ((CKF)) as Overweight (1) –
Collins Foods’ FY25 trading update for the first 16 weeks appears to have disappointed Wilsons, management advising same-store sales had deteriorated and guiding to higher-than-expected margin contraction in the December half due to cost inflation.
While the broker appreciates the fundamental long-term value of the business, it struggles to place a timing on a margin recovery.
EPS forecasts fall -18% in FY25; and -8% in FY26; and are unchanged in FY27.
Overweight rating retained. Target price falls to $11.79 from $12.83.
This report was published on August 23, 2024.
Target price is $11.79 Current Price is $7.64 Difference: $4.15
If CKF meets the Wilsons target it will return approximately 54% (excluding dividends, fees and charges).
Current consensus price target is $9.46, suggesting upside of 23.9%(ex-dividends)
The company’s fiscal year ends in May.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 28.00 cents and EPS of 43.10 cents.
At the last closing share price the estimated dividend yield is 3.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.73.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 45.9, implying annual growth of -4.5%.
Current consensus DPS estimate is 24.1, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 34.00 cents and EPS of 61.30 cents.
At the last closing share price the estimated dividend yield is 4.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.4, implying annual growth of 27.2%.
Current consensus DPS estimate is 30.8, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.1.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
COF CENTURIA OFFICE REIT
REITs – Overnight Price: $1.20
Moelis rates ((COF)) as Buy (1) –
Centuria Office REIT reported FY24 results which met Moelis’ expectations.
The broker highlighted leasing generated 16% of income which declined to 6% in 2H24, post a lease expiry at 818 Bourke St, Docklands.
FY25 guidance was below estimates by -9%. Moelis notes the REIT’s portfolio has 16 out of 19 assets well leased and generating income, with three assets 30% vacant and 3.4 years of weighted average lease expiry. This is viewed as a challenge.
Target price revised to $1.73 from $1.88 on FY25 guidance. Buy rating unchanged.
This report was published on August 22, 2024.
Target price is $1.73 Current Price is $1.20 Difference: $0.53
If COF meets the Moelis target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $1.30, suggesting upside of 8.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 10.10 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 8.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.9, implying annual growth of N/A.
Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 9.1%.
Current consensus EPS estimate suggests the PER is 9.3.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 10.20 cents and EPS of 12.20 cents.
At the last closing share price the estimated dividend yield is 8.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.2, implying annual growth of 2.3%.
Current consensus DPS estimate is 10.6, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 9.1.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DUG DUG TECHNOLOGY LIMITED
Cloud services – Overnight Price: $3.23
Wilsons rates ((DUG)) as Overweight (1) –
Dug Technology posted a FY24 result that was in line with Wilsons. The broker remains cautiously optimistic regarding FY25, encouraged by core operations being supplemented with incremental traction in the Middle East.
A positive leading indicator, in the broker’s view, is the opening of an office in the region and employing 16 geophysicists. Overweight reiterated. FY25 and FY26 EBITDA forecasts are increased by 10-16% and the target raised to $4.11 from $3.58.
This report was published on August 23, 2024.
Target price is $4.11 Current Price is $3.23 Difference: $0.88
If DUG meets the Wilsons target it will return approximately 27% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 5.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.69.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.19.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EBO EBOS GROUP LIMITED
Healthcare services – Overnight Price: $33.03
Jarden rates ((EBO)) as Downgrade to Neutral from Overweight (3) –
Ebos Group posted a solid result in line with Jarden’s expectations of underlying earnings up 7% year on year. The dividend was up 9% on a 70% payout ratio.
FY25 maiden earnings guidance of $575-600m compares to Jarden’s forecast of $601m, the decline mostly reflecting the impact of non-renewal of the Chemist Warehouse contract, which generated revenues of $2.2bn.
Key drivers include base business growth across both divisions, Community Pharmacy revenue and share growth and cost initiatives.
With Ebos’ share price now better capturing earnings prospects and potential bolt-on M&A activity, Jarden downgrades to Neutral from Overweight on more limited valuation upside. Target unchanged at NZ$38.
This report was published on August 22, 2024.
Current Price is $33.03. Target price not assessed.
Current consensus price target is $35.64, suggesting upside of 7.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 112.00 cents and EPS of 144.00 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 140.5, implying annual growth of -0.6%.
Current consensus DPS estimate is 97.9, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 23.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 114.00 cents and EPS of 163.00 cents.
At the last closing share price the estimated dividend yield is 3.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 158.9, implying annual growth of 13.1%.
Current consensus DPS estimate is 110.1, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 20.8.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
EQT EQT HOLDINGS LIMITED
Diversified Financials – Overnight Price: $31.00
Wilsons rates ((EQT)) as Overweight (1) –
In response to EQT Holdings’ FY24 results Wilsons notes the AET transition is on track for completion in FY25. Funds under management beat estimates and provide a positive starting point, implying further operating leverage.
Underlying net profit was in line while the dividend was “modestly below”. Overweight rating and $33.90 target under review.
This report was published on August 22, 2024.
Target price is $33.90 Current Price is $31.00 Difference: $2.9
If EQT meets the Wilsons target it will return approximately 9% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GEM G8 EDUCATION LIMITED
Childcare – Overnight Price: $1.26
Moelis rates ((GEM)) as Buy (1) –
Moelis observes the G8 Education FY24 results were lower than anticipated as cost-of-living pressures impacted on occupancy growth in the 2Q of 2024.
Management is expected to continue to look for efficiency gains with group occupancy at 72.7% as at August 16, down -0.1% on the previous corresponding period.
A share buyback was announced, up to 5% of the issued capital. Buy rated with $1.46 target price.
This report was published on August 22, 2024.
Target price is $1.46 Current Price is $1.26 Difference: $0.195
If GEM meets the Moelis target it will return approximately 15% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.
Forecast for FY24:
Moelis forecasts a full year FY24 dividend of 5.10 cents and EPS of 8.40 cents.
At the last closing share price the estimated dividend yield is 4.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.06.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 5.50 cents and EPS of 9.70 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 13.04.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GOZ GROWTHPOINT PROPERTIES AUSTRALIA
Infra & Property Developers – Overnight Price: $2.33
Moelis rates ((GOZ)) as Buy (1) –
One-off items boosted the FY24 results for Growthpoint Properties Australia according to Moelis. A 13.9c dividend was in line with guidance.
Office leasing occupancy stood at 92%; industrial is 100% occupied and gearing increased slightly to 40.7%.
Management guided to a payout ratio at the lower end of the range due to the gearing above 40%, which the broker believes is “sound” strategically.
Buy rated. Target price $3.32.
This report was published on August 22, 2024.
Target price is $3.32 Current Price is $2.33 Difference: $0.99
If GOZ meets the Moelis target it will return approximately 42% (excluding dividends, fees and charges).
Current consensus price target is $2.55, suggesting upside of 9.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 18.20 cents and EPS of 22.60 cents.
At the last closing share price the estimated dividend yield is 7.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.8, implying annual growth of N/A.
Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 7.8%.
Current consensus EPS estimate suggests the PER is 11.8.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 18.50 cents and EPS of 23.80 cents.
At the last closing share price the estimated dividend yield is 7.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.79.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.4, implying annual growth of 3.0%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 8.0%.
Current consensus EPS estimate suggests the PER is 11.4.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
HLS HEALIUS LIMITED
Healthcare services – Overnight Price: $1.61
Jarden rates ((HLS)) as Underweight (4) –
Healius reported FY24 earnings (EBIT) at the top end of guidance. At a divisional level, a long-awaited improvement in pathology occurred in 2H24, whilst imaging maintained its strong growth profile, Jarden notes.
The stock performed well on the back of the improvement in quality, the broker notes, especially now the sale of Lumus and subsequent stabilisation of the balance sheet are near.
The broker remains cautious as some of the cost initiatives have the potential to curb upside.
Jarden thus retains Underweight, while lifting its target price to $1.41 from $1.22 on EBIT upgrades, declining capex and a roll-forward of valuation.
This report was published on August 22, 2024.
Target price is $1.41 Current Price is $1.61 Difference: minus $0.205 (current price is over target).
If HLS meets the Jarden target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.64, suggesting upside of 1.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 62.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 3.9, implying annual growth of N/A.
Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 41.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 6.5, implying annual growth of 66.7%.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 24.8.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IAG INSURANCE AUSTRALIA GROUP LIMITED
Insurance – Overnight Price: $7.54
Jarden rates ((IAG)) as Overweight (2) –
While Insurance Australia Group’s FY24 reported insurance trading ratio margin of 15.6% was slightly ahead of Jarden’s estimates, cash profit missed due to non-core factors.
While affordability pressures still weigh on volumes, IAG’s stronger-than-expected FY25 gross written premium guidance suggests the pricing cycle could run further, the broker suggests, given industry-wide inflation pressure in home insurance.
With IAG assuming stable inflation in its outlook, a moderating inflation backdrop presents potential tailwinds to Jarden’s forecasts. With strong tailwinds from earnings and capital, the broker retains Overweight. Target rises to $7.55 from $7.35.
This report was published on August 22, 2024.
Target price is $7.55 Current Price is $7.54 Difference: $0.01
If IAG meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $7.65, suggesting upside of 1.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 30.00 cents and EPS of 40.80 cents.
At the last closing share price the estimated dividend yield is 3.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.48.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 40.4, implying annual growth of 8.3%.
Current consensus DPS estimate is 30.3, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 18.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 32.00 cents and EPS of 44.20 cents.
At the last closing share price the estimated dividend yield is 4.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 43.0, implying annual growth of 6.4%.
Current consensus DPS estimate is 32.5, implying a prospective dividend yield of 4.3%.
Current consensus EPS estimate suggests the PER is 17.5.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IMD IMDEX LIMITED
Mining Sector Contracting – Overnight Price: $2.14
Canaccord Genuity rates ((IMD)) as Buy (1) –
Canaccord Genuity assesses Imdex is at a cyclical low point and it is time to revisit the stock, which should gradually accelerate earnings growth again through FY25-26.
The business continues to build the product suite and the R&D profile provides the broker with a level of comfort around its ability to consistently take market share.
Headline numbers in FY24 were slightly below expectations and there have been some small downward revisions to the broker’s estimates for FY25.
The Buy rating and $2.25 target are maintained.
This report was published on August 22, 2024.
Target price is $2.25 Current Price is $2.14 Difference: $0.11
If IMD meets the Canaccord Genuity target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.17, suggesting upside of 1.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 3.30 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 52.5%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.1.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 4.40 cents and EPS of 13.00 cents.
At the last closing share price the estimated dividend yield is 2.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.4, implying annual growth of 17.5%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 18.8.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((IMD)) as Overweight (2) –
Imdex reported underlying earnings in line with Jarden. The company is edging closer to the upswing but rebasing earnings first, the broker notes.
While FY24 was largely in line from an operating result perspective, Jarden suggests the outlook into FY25 remains mixed. Imdex has signalled ‘flat market activity’ into FY25 which, without industry benchmark exploration budgets being set, is yet to meaningfully demonstrate any uplift.
Balancing the potential for a more positive earnings outlook come 2025, the broker materially rebases earnings forecasts and growth expectations, now having greater confidence the risk/reward dynamics have improved.
Upgrade to Overweight from Neutral. Target unchanged at $2.30.
This report was published on August 22, 2024.
Target price is $2.30 Current Price is $2.14 Difference: $0.16
If IMD meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.17, suggesting upside of 1.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 3.20 cents and EPS of 9.70 cents.
At the last closing share price the estimated dividend yield is 1.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.06.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.7, implying annual growth of 52.5%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 3.90 cents and EPS of 11.90 cents.
At the last closing share price the estimated dividend yield is 1.82%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.4, implying annual growth of 17.5%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 18.8.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
INA INGENIA COMMUNITIES GROUP
Aged Care & Seniors – Overnight Price: $5.24
Moelis rates ((INA)) as Downgrade to Sell from Hold (5) –
Ingenia Communities’ FY24 EPS outpaced guidance but strong development settlements paired with a fall in gross margins to 45% from 48% in FY23.
The broker says the company provided maiden disclosure on its development economics on a per unit basis and pointed out “underlying profit excludes a negative fair value movement on land needed to secure above-ground profit”.
The broker cuts its target price to $4.07 from $4.93 to reflect lower net profitability in the development business. Rating is downgraded to Sell from Hold.
This report was published on August 21, 2024.
Target price is $4.07 Current Price is $5.24 Difference: minus $1.17 (current price is over target).
If INA meets the Moelis target it will return approximately minus 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.65, suggesting upside of 7.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Moelis forecasts a full year FY25 dividend of 12.40 cents and EPS of 25.30 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 23.9, implying annual growth of 594.8%.
Current consensus DPS estimate is 12.4, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 21.9.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 14.00 cents and EPS of 29.10 cents.
At the last closing share price the estimated dividend yield is 2.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 29.0, implying annual growth of 21.3%.
Current consensus DPS estimate is 14.7, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 18.1.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IPH IPH LIMITED
Legal – Overnight Price: $6.70
Goldman Sachs rates ((IPH)) as Buy (1) –
IPH’s FY24 result appears to have nosed out Goldman Sachs’ forecasts, the broker appreciating the company’s strong organic growth and margin focus.
The broker observed the company’s balance sheet has normalised six months ahead of schedule.
The broker does not include the acquisition of Berskin & Parr in its estimates but considers it a respectable strategic fit, albeit the size of the related equity raising sharply outpaced the acquisition cost and the company’s debt for Canadia consolidation.
Buy rating retained, the broker suspecting a rerating could be in the wings. Target priced eases -5% to $8.25 from $8.70.
This report was published on August 22, 2024.
Target price is $8.25 Current Price is $6.70 Difference: $1.55
If IPH meets the Goldman Sachs target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $8.18, suggesting upside of 22.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 37.00 cents and EPS of 49.00 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 46.8, implying annual growth of 86.6%.
Current consensus DPS estimate is 36.4, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 14.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 40.00 cents and EPS of 52.00 cents.
At the last closing share price the estimated dividend yield is 5.97%.
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 50.3, implying annual growth of 7.5%.
Current consensus DPS estimate is 37.5, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 13.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LAU LINDSAY AUSTRALIA LIMITED
Transportation & Logistics – Overnight Price: $0.94
Wilsons rates ((LAU)) as Overweight (1) –
Lindsay Australia delivered a better-than-expected FY24 result. Wilsons notes a “solid recovery” in the fourth quarter versus the weather-affected third quarter. Transport led the recovery.
The company expects a continuation of improved transport conditions and a gradual recovery in horticulture volumes and grower sentiment. Wilsons lifts EBITDA forecast by 2-4% for FY25-27. Overweight maintained. Target is reduced to $1.22 from $1.25.
This report was published on August 23, 2024.
Target price is $1.22 Current Price is $0.94 Difference: $0.285
If LAU meets the Wilsons target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $1.22, suggesting upside of 30.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 4.60 cents and EPS of 10.90 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 8.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.8, implying annual growth of 23.4%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 8.7.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 5.70 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 6.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.9, implying annual growth of 10.2%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 7.9.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LGL LYNCH GROUP HOLDING LIMITED
Agriculture – Overnight Price: $1.48
Jarden rates ((LGL)) as Overweight (2) –
Lynch Group reported FY24 earnings down -7% year on year but in line with guidance and Jarden, with Australia 5% ahead and China -14% below forecasts, impacted by materially weaker pricing.
While there is some evidence of green shoots in Australia, China will remain a drag until unfavorable pricing improves, which the broker believes will need to be demand-led. The company has nevertheless controlled costs well.
Jarden believes Lynch Group continues to execute well and remains positive as the stock is fundamentally undervalued, but sees few immediate catalysts until China macro improves.
The broker retains Overweight with valuation and yield compelling but sees few immediate catalysts. Target falls to $1.90 from $2.00.
This report was published on August 22, 2024.
Target price is $1.90 Current Price is $1.48 Difference: $0.42
If LGL meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 7.00 cents and EPS of 11.10 cents.
At the last closing share price the estimated dividend yield is 4.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.33.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 15.24 cents and EPS of 29.10 cents.
At the last closing share price the estimated dividend yield is 10.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.09.
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
MP1 MEGAPORT LIMITED
Cloud services – Overnight Price: $9.14
Canaccord Genuity rates ((MP1)) as Buy (1) –
Megaport’s FY24 result was in line with Canaccord Genuity’s expectations and evidenced strong execution against a promise to the market of profitable growth.
However, muted momentum in key operating metrics and disappointing FY25 guidance led to a de-rating on the day.
The broker expects part of this disappointment relates to the implied FY25 annual recurring revenue growth and implied FY25 earnings margin being below consensus.
Yet, hidden in the FY24 numbers and guidance is a glimmer of optimism over the earnings run rate exiting FY25, Canaccord suggests. On that basis, the broker retains Buy but with a reduced target price of $11.15, down from $15.40.
This report was published on August 23, 2024.
Target price is $11.15 Current Price is $9.14 Difference: $2.01
If MP1 meets the Canaccord Genuity target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $12.47, suggesting upside of 36.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 90.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.4, implying annual growth of 138.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 63.5.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 17.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.45.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.4, implying annual growth of 69.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 37.5.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Goldman Sachs rates ((MP1)) as Buy (1) –
Megaport’s FY24 result missed Goldman Sachs’s forecasts at both the revenue and EBITDA levels but the broker was more concerned by the company’s downgrade to FY25 guidance.
June-quarter operating metrics broadly outpaced the March quarter and product launches are accelerating, observes the broker.
But guidance implies either a slowing in subscriber growth or average revenue per unit, despite heavy product investments, observes Goldman Sachs.
Management attributed the disappointment to a fall in net revenue retention, most likely due to optimisation of services, surmised the broker, given churn was steady and operating metrics ok.
Buy rating retained. Target price falls -14% to $12 from $14, bringing the company’s valuation in line with tech peers.
This report was published on August 22, 2024.
Target price is $12.00 Current Price is $9.14 Difference: $2.86
If MP1 meets the Goldman Sachs target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $12.47, suggesting upside of 36.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 228.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.4, implying annual growth of 138.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 63.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 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 91.40.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 24.4, implying annual growth of 69.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 37.5.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MPL MEDIBANK PRIVATE LIMITED
Insurance – Overnight Price: $3.88
Goldman Sachs rates ((MPL)) as Neutral (3) –
Medibank Private’s FY24 result nosed out consensus and Goldman Sachs’ forecasts, margins benefiting from a big beat on forecast claims and solid reserving, observes the broker.
Resident private health growth missed guidance but management expects an improvement over FY25, along with an uptick in gross margins, organic growth and acquisitions.
The company guides to $10m of productivity savings in FY25 and believes inflation may have peaked, and expects steady cybercrime costs.
Neutral rating retained. Target price edges up to $4 from $3.88.
This report was published on August 23, 2024.
Target price is $4.00 Current Price is $3.88 Difference: $0.12
If MPL meets the Goldman Sachs target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $4.03, suggesting upside of 3.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 17.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.8, implying annual growth of 16.3%.
Current consensus DPS estimate is 17.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 18.7.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 18.00 cents and EPS of 22.00 cents.
At the last closing share price the estimated dividend yield is 4.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.64.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.1, implying annual growth of 6.3%.
Current consensus DPS estimate is 17.2, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 17.6.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MVF MONASH IVF GROUP LIMITED
Healthcare services – Overnight Price: $1.18
Wilsons rates ((MVF)) as Overweight (1) –
Wilsons observes a solid second half from Monash IVF was affected by an unexpected outcome in relation to a class action. The proposed settlement necessitates further borrowing to the extent where additional interest expense negates net profit growth in FY25.
The share price reaction is “fair” and the broker asserts it opportunistically takes the “heat” out of the trading multiple. Overweight. Target is reduced to $1.46 from $1.58.
This report was published on August 23, 2024.
Target price is $1.46 Current Price is $1.18 Difference: $0.28
If MVF meets the Wilsons target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 32.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 5.40 cents and EPS of 7.70 cents.
At the last closing share price the estimated dividend yield is 4.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.1, implying annual growth of N/A.
Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 14.6.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 6.10 cents and EPS of 8.60 cents.
At the last closing share price the estimated dividend yield is 5.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.72.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.7, implying annual growth of 7.4%.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 13.6.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NSR NATIONAL STORAGE REIT
REITs – Overnight Price: $2.39
Jarden rates ((NSR)) as Buy (1) –
National Storage REIT’s FY24 result was in line with guidance and FY25 guidance of 4.4% growth suggests to Jarden the short-term headwinds from a growing development pipeline are now behind us.
In the medium term, the broker believes the shift from largely acquisition-led growth to more development-led growth will eventually lead to attractive revnue per available square metre (RevPAM), earnings and asset valuation growth.
Jarden suggests the market is too focused on core RevPAM, believing improvement in the non-stabilised portfolio and inorganic growth to be much more important drivers, and continues to see National Storage as well positioned to deliver above-average short- and medium-term earnings growth.
Buy and $2.75 target retained.
This report was published on August 22, 2024.
Target price is $2.75 Current Price is $2.39 Difference: $0.36
If NSR meets the Jarden target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $2.43, suggesting upside of 1.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 11.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.8, implying annual growth of -30.2%.
Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 20.3.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 11.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.4, implying annual growth of 5.1%.
Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 19.3.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
NST NORTHERN STAR RESOURCES LIMITED
Gold & Silver – Overnight Price: $15.15
Canaccord Genuity rates ((NST)) as Buy (1) –
Northern Star Resources’ underlying earnings and profit were in line with Canaccord Genuity’s forecasts. The company declared a final unfranked dividend of 25c, notably higher than the broker’s 19c expectation.
FY24 total dividend returns of 40cps versus 26.5c in FY23 represents 25.5% of cash earnings, in line with Northern Star’s payout policy of 20-30%. The company also announced it will extend its on-market share buyback by 12 months to September 2025.
In Canaccord’s view, the dividend/buyback send a strong message that the company believes it remains fundamentally undervalued, is confident in the condition of the business and can comfortably fund its organic growth pipeline while maintaining a growing dividend profile.
Target rises to $18.75 from $18.65, Buy retained.
This report was published on August 22, 2024.
Target price is $18.75 Current Price is $15.15 Difference: $3.6
If NST meets the Canaccord Genuity target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $15.43, suggesting upside of 1.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 41.00 cents and EPS of 89.00 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 91.4, implying annual growth of 64.4%.
Current consensus DPS estimate is 42.1, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 41.00 cents and EPS of 147.00 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.31.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.3, implying annual growth of 13.0%.
Current consensus DPS estimate is 43.4, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Goldman Sachs rates ((NST)) as Neutral (3) –
Northern Star Resources’s FY24 result broadly met consensus and Goldman Sachs’s forecasts,thanks to a strong realised gold price and improvement in earnings (EBITDA) margins to 45% from 37% the previous year.
Management declared a full-year dividend of 40c (final dividend of 25c), outpacing consensus forecasts and meeting the broker.
The broker expects the company’s improving cash position will flow through to returns and dividends. Management extended the on market buyback for one year and expressed a preference for organic growth.
The broker increases sustaining capital expenditure forecasts. EPS forecasts rise 4% in FY25 and fall -2% in FY26.
FY25 guidance was retained. Neutral rating retained. Target price falls to $13.70 from $14.10.
This report was published on August 22, 2024.
Target price is $13.70 Current Price is $15.15 Difference: minus $1.45 (current price is over target).
If NST meets the Goldman Sachs target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $15.43, suggesting upside of 1.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 54.70 cents and EPS of 105.40 cents.
At the last closing share price the estimated dividend yield is 3.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 91.4, implying annual growth of 64.4%.
Current consensus DPS estimate is 42.1, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 16.6.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 49.70 cents and EPS of 147.70 cents.
At the last closing share price the estimated dividend yield is 3.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.26.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.3, implying annual growth of 13.0%.
Current consensus DPS estimate is 43.4, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 14.7.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
OCL OBJECTIVE CORPORATION LIMITED
IT & Support – Overnight Price: $12.60
Goldman Sachs rates ((OCL)) as Neutral (3) –
Objective Corp’s FY24 result proved mixed, revenue meeting Goldman Sachs’ forecasts and earnings (EBITDA) falling -4% short due to higher-than-expected operating expenditure.
Annual recurring revenue (ARR) fell -2% short of the broker’s forecast due to delayed timing of deals, which should settle this month, and management retained its 15% ARR guidance for FY25. On the upside, SaaS ARR gew 15%.
Goldman Sachs concedes a strong margin, scaling and cloud-transition performance could pose upside risks to its forecasts but the broker spies more risk should the company miss its 15% ARR guidance.
Neutral rating and $13.75 target price retained.
This report was published on August 22, 2024.
Target price is $13.75 Current Price is $12.60 Difference: $1.15
If OCL meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $11.30, suggesting downside of -10.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 13.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 1.03%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.5, implying annual growth of -4.3%.
Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 40.0.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 16.00 cents and EPS of 40.00 cents.
At the last closing share price the estimated dividend yield is 1.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.9, implying annual growth of 20.3%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 33.2.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PNR PANTORO LIMITED
Gold & Silver – Overnight Price: $0.12
Petra Capital rates ((PNR)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Pantoro rises by 13% to 18 cents. Buy.
This report was published on August 22, 2024.
Target price is $0.18 Current Price is $0.12 Difference: $0.065
If PNR meets the Petra Capital target it will return approximately 57% (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 57.50.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PWR PETER WARREN AUTOMOTIVE HOLDINGS LIMITED
Automobiles & Components – Overnight Price: $1.81
Jarden rates ((PWR)) as Buy (1) –
While Peter Warren Automotive reported ahead of Jarden’s estimate and at the top end of profit guidance, further margin pressure was flagged, weighing on the share price.
Margin headwinds will nevertheless be offset somewhat by continued consumer demand, with services/parts/accessories revenues at elevated levels given the ageing car fleet, coupled with cost management initiatives driving further savings, the broker notes.
Peter Warren appears to be at the trough of margin compression. With Jarden’s revised estimates suggesting two-year compound earnings growth of 17%, yet trading at 9x PE, the broker reiterates Buy. Target falls to $2.10 from $2.20.
This report was published on August 22, 2024.
Target price is $2.10 Current Price is $1.81 Difference: $0.29
If PWR meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $1.81, suggesting upside of 0.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 10.90 cents and EPS of 18.20 cents.
At the last closing share price the estimated dividend yield is 6.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.95.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.9, implying annual growth of -19.4%.
Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 10.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 14.20 cents and EPS of 23.60 cents.
At the last closing share price the estimated dividend yield is 7.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.1, implying annual growth of 7.1%.
Current consensus DPS estimate is 11.6, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 10.0.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PXA PEXA GROUP LIMITED
Real Estate – Overnight Price: $13.88
Jarden rates ((PXA)) as Neutral (3) –
While Pexa Group’s adjusted earnings per share disappointed, operating earnings were ahead of Jarden by 5-6%, supported by International and Digital Solutions.
With no material updates on UK expansion plans, Pexa instead reiterated market share targets, noting targets might not be precisely achieved.
Even if Pexa achieves only a significant portion of these targets, it would confirm the UK’s viability and increase Jarden’s confidence the company will indeed exceed market share targets in the long term.
Elsewhere, loss-making businesses Smoove, Optima and Digital Solutions pleasingly stepped closer to profitability. Target rises to $14.45 from $13.65, Neutral retained.
This report was published on August 22, 2024.
Target price is $14.45 Current Price is $13.88 Difference: $0.57
If PXA meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $15.77, suggesting upside of 13.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 26.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 52.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 27.7, 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 50.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 34.00 cents and EPS of 48.60 cents.
At the last closing share price the estimated dividend yield is 2.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 38.6, implying annual growth of 39.4%.
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: 0.7
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: $3.87
Goldman Sachs rates ((QUB)) as Buy (1) –
Following FY24 results for Qube Holdings, Goldman Sachs raises profit (NPATA) forecasts across FY25-27 by 2%, 5%, and 5%, respectively to reflect an agriculture turnaround and quicker Moorebank ramp-up.
For FY24, profit (NPATA) and earnings (EPSA) were in line with consensus forecasts. The Moorebank Intermodal Terminal (IMEX) generated earnings ahead of expectation and management’s return on average capital employed (ROACE) target was revised up.
The Buy rating is maintained, and the target increased to $4.20 from $3.95.
This report was published on August 23, 2024.
Target price is $4.20 Current Price is $3.87 Difference: $0.33
If QUB meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $4.01, suggesting upside of 3.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 10.00 cents and EPS of 15.00 cents.
At the last closing share price the estimated dividend yield is 2.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.5, implying annual growth of 20.5%.
Current consensus DPS estimate is 9.4, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 25.0.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 11.00 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 2.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.76.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.8, implying annual growth of 8.4%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.0.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((QUB)) as Downgrade to Neutral from Overweight (3) –
Qube Holdings delivered FY24 underlying profit growth of 13%, within its targeted 10-15% upgraded guidance range from its Strategy Day in May. Consistent with prior years, Qube has not provided quantitative earnings guidance for the FY25 outlook.
Jarden admits to being far too optimistic about the pace and impact of Patricks’ market share reversion to historical levels. Similarly, the broker’s forecast of a further 10% profit growth from strong FY24 levels appears too lofty at this stage, despite it being well below Qube’s long-run average.
Jarden now sees the stock as fairly valued at current levels and balancing the outlook for earnings growth in FY25. As a result, the broker lowers its rating to Neutral from Overweight, with its target cut to $3.85 from $4.00.
This report was published on August 22, 2024.
Target price is $3.85 Current Price is $3.87 Difference: minus $0.02 (current price is over target).
If QUB meets the Jarden target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.01, suggesting upside of 3.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.40 cents and EPS of 15.10 cents.
At the last closing share price the estimated dividend yield is 2.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.5, implying annual growth of 20.5%.
Current consensus DPS estimate is 9.4, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 25.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 9.90 cents and EPS of 17.60 cents.
At the last closing share price the estimated dividend yield is 2.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 16.8, implying annual growth of 8.4%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.0.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RED RED 5 LIMITED
Gold & Silver – Overnight Price: $0.36
Petra Capital rates ((RED)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Red 5 rises by 13% to 51 cents. Buy.
This report was published on August 22, 2024.
Target price is $0.51 Current Price is $0.36 Difference: $0.15
If RED meets the Petra Capital target it will return approximately 42% (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 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 51.43.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 1.00 cents and EPS of 6.10 cents.
At the last closing share price the estimated dividend yield is 2.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.90.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RRL REGIS RESOURCES LIMITED
Gold & Silver – Overnight Price: $1.81
Canaccord Genuity rates ((RRL)) as Buy (1) –
Regis Resources’s underlying earnings were a miss versus Canaccord Genuity. Profit was a miss on significant one-off items including a -$194m impairment, primarily relating to McPhillamys, as well as -$26m in inventory write-downs.
No dividend was declared, as expected.
Regis finished the year with $295m in cash and bullion and $300m in debt. The broker currently assumes the company repays the debt in the June quarter of 2025 and forecasts Regis finishing FY25 with cash/bullion of $120m post debt repayment.
On incorporating the FY24 result and forecast changes, Canaccord cuts its target to $2.05 from $2.15, Buy retained.
This report was published on August 22, 2024.
Target price is $2.05 Current Price is $1.81 Difference: $0.24
If RRL meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $1.92, suggesting upside of 6.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 19.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.53.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.3, implying annual growth of N/A.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 8.9.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 2.00 cents and EPS of 43.00 cents.
At the last closing share price the estimated dividend yield is 1.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.3, implying annual growth of N/A.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 8.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Goldman Sachs rates ((RRL)) as Neutral (3) –
FY24 results for Regis Resources were broadly in line and FY25 earnings (EBITDA) guidance was maintained.
Underground extensions at Duketon South and Tropicana remain incrementally positive, where the broker sees further upside from delivery of production targets of 335-400koz in FY27.
The analysts now take McPhillamys out of the forecast production profile after the recent Section 10 ruling Section 10 outcome materially impacted the ability to construct and utilise the planned Tailings Storage Facility (TSF) area.
As the capex profile has been lowered (see McPhillamys), there will be capacity to return to dividend payouts over the next 12 months, suggests Goldman Sachs.
The target falls to $1.85 from $1.90. Neutral.
This report was published on August 23, 2024.
Target price is $1.85 Current Price is $1.81 Difference: $0.04
If RRL meets the Goldman Sachs target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $1.92, suggesting upside of 6.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 2.00 cents and EPS of 18.80 cents.
At the last closing share price the estimated dividend yield is 1.10%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 9.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.3, implying annual growth of N/A.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 8.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 4.00 cents and EPS of 21.50 cents.
At the last closing share price the estimated dividend yield is 2.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.42.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 20.3, implying annual growth of N/A.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 8.9.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SBM ST. BARBARA LIMITED
Gold & Silver – Overnight Price: $0.25
Petra Capital rates ((SBM)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for St. Barbara rises by 34% to 59 cents. Buy.
This report was published on August 22, 2024.
Target price is $0.59 Current Price is $0.25 Difference: $0.34
If SBM meets the Petra Capital target it will return approximately 136% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.83.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 31.25.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SCG SCENTRE GROUP
REITs – Overnight Price: $3.44
Jarden rates ((SCG)) as Overweight (2) –
Scentre Group’s first half result was in line with expectations and FY24 guidance is reaffirmed, suggesting upside risk to Jarden’s expectations.
Despite a slowdown in consumer spending, leasing metrics are holding up well, and the broker sees medium-term upside from bigger developments, strategic partnerships and unwinding the expensive debt book.
After a strong share price performance year to date, Scentre Group is trading at a -1% discount to net tangible asset valuation and offers a 5.1% yield, but Jarden believes evidence of above-average funds from operations growth versus passive REITs should support the shares.
Overweight and $3.65 target retained.
This report was published on August 22, 2024.
Target price is $3.65 Current Price is $3.44 Difference: $0.21
If SCG meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $3.45, suggesting upside of 0.3%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Jarden forecasts a full year FY24 dividend of 17.20 cents and EPS of 21.90 cents.
At the last closing share price the estimated dividend yield is 5.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.71.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.7, implying annual growth of 543.9%.
Current consensus DPS estimate is 17.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.9.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 22.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.02.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.4, implying annual growth of 3.2%.
Current consensus DPS estimate is 17.9, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 15.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SGM SIMS LIMITED
Steel & Scrap – Overnight Price: $11.34
Jarden rates ((SGM)) as Overweight (2) –
Sims reported a FY24 result above low market estimates, Jarden notes, as A&NZ Metals drove a better-than-expected result. The materially stronger result reflected a strong contribution from non-ferrous metals, on stronger pricing late in the quarter.
North America Metals’ losses were worse than expected, though Jarden is starting to see some strategic realignment to higher sustained returns, with increasing exposure to unprocessed scrap volumes and domestic end-markets.
Jarden would be more positive if Sims could improve its earnings transparency, increase North American direct scrap sourcing, further attack its cost structure and consider consolidating its North American footprint to leverage greater synergies.
Target rises to $12.00 from $11.90, Overweight retained.
This report was published on August 22, 2024.
Target price is $12.00 Current Price is $11.34 Difference: $0.66
If SGM meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $12.14, suggesting upside of 7.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 5.60 cents and EPS of 48.60 cents.
At the last closing share price the estimated dividend yield is 0.49%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.0, implying annual growth of N/A.
Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 24.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 10.20 cents and EPS of 76.90 cents.
At the last closing share price the estimated dividend yield is 0.90%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 102.1, implying annual growth of 117.2%.
Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.1.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SKC SKYCITY ENTERTAINMENT GROUP LIMITED
Gaming – Overnight Price: $1.35
Jarden rates ((SKC)) as Overweight (2) –
SkyCity Entertainment’s FY24 operating result was broadly in line with guidance, and FY25 operating guidance is unchanged. The result remains messy, Jarden suggests, with various items and maiden estimates on the impact of mandatory carded play of interest.
Initial thoughts from new CEO look in line with pre-appointment positioning and balance sheet constraints, the broker comments.
Jarden’s positive investment case reflects valuation support and the broker expects the value gap to normalise as regulatory overhangs are progressed and cashflows improve post the NZ International Convention Centre opening in 2025.
Overweight and NZ$1.75 target retained.
This report was published on August 27, 2024.
Current Price is $1.35. Target price not assessed.
Current consensus price target is $2.90, suggesting upside of 114.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.33 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.07.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.3, implying annual growth of N/A.
Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 11.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 4.61 cents and EPS of 10.79 cents.
At the last closing share price the estimated dividend yield is 3.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.0, implying annual growth of -18.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 13.5.
This company reports in NZD. 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
SKT SKY NETWORK TELEVISION LIMITED
Print, Radio & TV – Overnight Price: $2.52
Jarden rates ((SKT)) as Overweight (2) –
SKY Network Television reported an in-line FY24 result with earnings broadly flat on FY23. The much sought after stabilisation of core pay-TV subs remains an issue, Jarden notes, given a step-up in losses in FY24.
SKY has downgraded its revenue target and the broker stays on the cautious side following a disappointing -6.9% decline in premium Sky Box customer numbers in FY24. Sky Box customer numbers continue to struggle to find a base.
Jarden’s medium-term forecasts are largely unchanged but the broker maintains a subdued outlook for earnings longer term, with forecast programming costs sitting above SKY’s targets and earnings margins below despite the nearer term win likely coming on rugby rights renewal.
Overweight retained, target rises to NZ$3.09 from NZ$3.03.
This report was published on August 22, 2024.
Current Price is $2.52. Target price not assessed.
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 19.37 cents and EPS of 30.90 cents.
At the last closing share price the estimated dividend yield is 7.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.16.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 27.67 cents and EPS of 35.70 cents.
At the last closing share price the estimated dividend yield is 10.98%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.06.
This company reports in NZD. 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
SLC SUPERLOOP LIMITED
Telecommunication – Overnight Price: $1.76
Canaccord Genuity rates ((SLC)) as Buy (1) –
FY24 earnings from Superloop were in line with Canaccord Genuity’s forecasts although the cash performance and balance sheet were better than previously anticipated.
Investment in smart communities accelerated which should deliver a large recurring earnings base that could grow with additional contract wins. The broker envisages sustained free cash flow generation and increases FY25 free cash forecasts by 8%.
Buy rating retained. Target rises to $2.07 from $1.86.
This report was published on August 22, 2024.
Target price is $2.07 Current Price is $1.76 Difference: $0.31
If SLC meets the Canaccord Genuity target it will return approximately 18% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 586.67.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.13.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SSM SERVICE STREAM LIMITED
Industrial Sector Contractors & Engineers – Overnight Price: $1.48
Canaccord Genuity rates ((SSM)) as Buy (1) –
Service Stream delivered FY24 results that were ahead of Canaccord Genuity’s estimates. The broker notes the “robust” balance sheet, with net debt reduced to a net cash position of $7.9m.
Momentum is expected to continue into FY25, supported by an improved utility division. The broker considers the results high-quality and retains a Buy rating, raising the target to $1.68 from $1.45.
This report was published on August 22, 2024.
Target price is $1.68 Current Price is $1.48 Difference: $0.205
If SSM meets the Canaccord Genuity target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.58, suggesting upside of 7.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 5.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 9.5, implying annual growth of 81.0%.
Current consensus DPS estimate is 5.5, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 15.5.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 7.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.4, implying annual growth of 9.5%.
Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 14.2.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
STN SATURN METALS LIMITED
Gold & Silver – Overnight Price: $0.18
Petra Capital rates ((STN)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Saturn Metals rises by 39% to 78 cents. Buy.
This report was published on August 22, 2024.
Target price is $0.78 Current Price is $0.18 Difference: $0.595
If STN meets the Petra Capital target it will return approximately 322% (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 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 26.43.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 37.00.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
STO SANTOS LIMITED
NatGas – Overnight Price: $7.27
Goldman Sachs rates ((STO)) as Buy (1) –
First half results for Santos were broadly in line with estimates by Goldman Sachs. The US13cps interim dividend was also in line with estimates by the analysts and consensus, while 2024 guidance remains unchanged.
Management confirmed delays to Papua LNG, which the broker had already reflected in current estimates.
The company’s production and cash flow inflection over the next 18 months is a key attraction for the broker. Management’s base business free cash flow from operations outlook indicates around US$3.8bn of free cash flow (FCF) in 2029.
The target falls by -1% to $8.65. Buy.
This report was published on August 23, 2024.
Target price is $8.65 Current Price is $7.27 Difference: $1.38
If STO meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $8.25, suggesting upside of 13.5%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY24:
Goldman Sachs forecasts a full year FY24 dividend of 33.52 cents and EPS of 59.42 cents.
At the last closing share price the estimated dividend yield is 4.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.24.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.6, implying annual growth of N/A.
Current consensus DPS estimate is 33.5, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 12.0.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 31.99 cents and EPS of 50.27 cents.
At the last closing share price the estimated dividend yield is 4.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.46.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 60.6, implying annual growth of N/A.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 12.0.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SUL SUPER RETAIL GROUP LIMITED
Automobiles & Components – Overnight Price: $18.16
Goldman Sachs rates ((SUL)) as Buy (1) –
Goldman Sachs assess the FY24 Super Retail results as strong with the stock preferred exposure in the discretionary sector.
The analysts like the strong store growth outlook with three additions in FY25. Sales/store growth is also expected to improve with better focus on loyalty to boost traffic and basket growth.
Capital management remained robust including a special 2H24 dividend. Buy rated with revised target price of $18.60 from $17.80.
This report was published on August 22, 2024.
Target price is $18.60 Current Price is $18.16 Difference: $0.44
If SUL meets the Goldman Sachs target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $16.75, suggesting downside of -7.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 71.00 cents and EPS of 109.00 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 16.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.3, implying annual growth of 1.9%.
Current consensus DPS estimate is 92.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 16.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 77.00 cents and EPS of 118.00 cents.
At the last closing share price the estimated dividend yield is 4.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 121.5, implying annual growth of 12.2%.
Current consensus DPS estimate is 107.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 14.9.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((SUL)) as Neutral (3) –
Jarden states there is a lot to like about Super Retail’s FY24 results; a 50c capital return and the positive FY25 trading update.
Three of the company’s four divisions are ahead of consensus at this stage and cost of doing business continues to be well managed.
Management has flagged a further 25 store openings in FY25.
The broker lifts earnings before interest and tax by around 9% in FY25 and 9% in FY26.
Target price rises to $17.30 from $15.10. Neutral rating unchanged.
This report was published on August 22, 2024.
Target price is $17.30 Current Price is $18.16 Difference: minus $0.86 (current price is over target).
If SUL meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $16.75, suggesting downside of -7.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 71.00 cents and EPS of 108.90 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 16.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.3, implying annual growth of 1.9%.
Current consensus DPS estimate is 92.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 16.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 74.00 cents and EPS of 113.30 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 16.03.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 121.5, implying annual growth of 12.2%.
Current consensus DPS estimate is 107.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 14.9.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Wilsons rates ((SUL)) as Market Weight (3) –
The broker comments Super Retail posted a FY24 result that was slightly below expectations albeit received positively because of a 10 basis points improvement in gross margins and $0.50 special dividend.
The company has confirmed stable growth in each vertical with the exception of Rebel and a new store target for FY25 of more than 25. Wilsons assesses this highlights the organic growth available to the business and improving customer engagement.
While considering the stock high quality, a Market Weight rating is retained on valuation and a more attractive entry point is awaited. Target is raised to $16.10 from $13.70.
This report was published on August 23, 2024.
Target price is $16.10 Current Price is $18.16 Difference: minus $2.06 (current price is over target).
If SUL meets the Wilsons target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $16.75, suggesting downside of -7.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 109.20 cents and EPS of 107.60 cents.
At the last closing share price the estimated dividend yield is 6.01%.
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 108.3, implying annual growth of 1.9%.
Current consensus DPS estimate is 92.9, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 16.8.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 118.30 cents and EPS of 124.10 cents.
At the last closing share price the estimated dividend yield is 6.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 121.5, implying annual growth of 12.2%.
Current consensus DPS estimate is 107.1, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 14.9.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TLX TELIX PHARMACEUTICALS LIMITED
Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $19.86
Wilsons rates ((TLX)) as Overweight (1) –
First half results from Telix Pharmaceuticals were generally in line. The company has maintained its 2024 outlook with revenue guidance at $745-776m based on Illuccix sales.
Having previously upgraded the outlook for Illuccix, Wilsons still envisages upside, given favourable market/competitive dynamics. Overweight retained. Target is steady at $22.
This report was published on August 23, 2024.
Target price is $22.00 Current Price is $19.86 Difference: $2.14
If TLX meets the Wilsons target it will return approximately 11% (excluding dividends, fees and charges).
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 19.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 102.37.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 28.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 68.96.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TRS REJECT SHOP LIMITED
Household & Personal Products – Overnight Price: $3.12
Jarden rates ((TRS)) as Overweight (2) –
Reject Shop reported solid FY24 results which met Jarden’s forecasts.
The highlight were gross margins up 80 basis points in 2H24, but like-for-like sales were restrained at circa 2.6% growth, the broker highlights.
Execution on the strategy is taking longer than anticipated, due to an improvement in customer transactions with better average selling prices.
Jarden cuts earnings forecasts as higher admin and finance costs bite, with FY25 net profit downgraded -41%. The revisions in FY26 are -10%.
Overweight rating unchanged. Target price slips to $5.10 from $5.80.
This report was published on August 22, 2024.
Target price is $5.10 Current Price is $3.12 Difference: $1.98
If TRS meets the Jarden target it will return approximately 63% (excluding dividends, fees and charges).
Current consensus price target is $3.87, suggesting upside of 23.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 15.00 cents and EPS of 18.20 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.1, implying annual growth of 70.3%.
Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 14.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 33.00 cents and EPS of 39.00 cents.
At the last closing share price the estimated dividend yield is 10.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.8, implying annual growth of 27.0%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 11.6.
Market Sentiment: 0.7
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: $7.00
Jarden rates ((UNI)) as Buy (1) –
Universal Store’s FY24 results were better than the already upbeat expectations from Jarden. The company continues to perform well in challenging market conditions and relative to competitors, observes the broker.
Gross margin came in 60 basis points above Jarden’s forecast and 40 basis above consensus.
Notably, the trading update was strong with like-for-like sales growing by brand. US total sales advanced 15.3% in the first two weeks of FY25.
Jarden revises earnings forecasts by 3.2% for FY25 and 1.2% for FY26. Buy rating unchanged. Target price moves to $7.88 from $6.47.
This report was published on August 22, 2024.
Target price is $7.88 Current Price is $7.00 Difference: $0.88
If UNI meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $7.70, suggesting upside of 10.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 EPS of 45.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.6, implying annual growth of 5.7%.
Current consensus DPS estimate is 32.5, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Jarden forecasts a full year FY26 EPS of 52.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.2, implying annual growth of 9.7%.
Current consensus DPS estimate is 35.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.4.
Market Sentiment: 1.0
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 FY24 results were pre-released while the July/August trading update was well ahead of expectations. Wilsons observes strong execution in each vertical despite aggressive competition.
Gross margins are expected to expand over the near-term and the increased inventory is considered appropriate, given the revenue momentum for the core business. Overweight retained. Target is raised to $8.40 from $7.00.
This report was published on August 23, 2024.
Target price is $8.40 Current Price is $7.00 Difference: $1.4
If UNI meets the Wilsons target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $7.70, suggesting upside of 10.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 29.60 cents and EPS of 49.30 cents.
At the last closing share price the estimated dividend yield is 4.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.20.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 47.6, implying annual growth of 5.7%.
Current consensus DPS estimate is 32.5, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 36.20 cents and EPS of 60.30 cents.
At the last closing share price the estimated dividend yield is 5.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.61.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.2, implying annual growth of 9.7%.
Current consensus DPS estimate is 35.8, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WGX WESTGOLD RESOURCES LIMITED
Gold & Silver – Overnight Price: $3.01
Petra Capital rates ((WGX)) as Buy (1) –
Petra Capital raises its gold price forecasts for the 2H of 2024, 2025 and 2026 by 7%. The 2027 and 2028 forecasts also rise by 10%, while the long-term forecast is increased by 8%.
The broker believes investors will seek gold exposure for both risk diversification and as a currency alternative to the US dollar.
The target for Westgold Resources rises by 18% to $3.67. Buy.
This report was published on August 22, 2024.
Target price is $3.67 Current Price is $3.01 Difference: $0.66
If WGX meets the Petra Capital target it will return approximately 22% (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 2.30 cents and EPS of 14.20 cents.
At the last closing share price the estimated dividend yield is 0.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.20.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 10.00 cents and EPS of 34.10 cents.
At the last closing share price the estimated dividend yield is 3.32%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.83.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WTC WISETECH GLOBAL LIMITED
Cloud services – Overnight Price: $118.90
Jarden rates ((WTC)) as Neutral (3) –
According to Jarden, WiseTech Global is expected to generate 2H25 revenue growth from new product rollouts which should boost growth into FY26.
EBITDA FY25 guidance was better than expected with a 2H skew in revenues compared to 1H25, the broker highlights.
Jarden want to do more work on the new product development as potentially an “under appreciated lever” for growth.
Neutral rating retained, with a lot priced into the stock.
Target price moves to $101 from $83.
This report was published on August 22, 2024.
Target price is $101.00 Current Price is $118.90 Difference: minus $17.9 (current price is over target).
If WTC 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 $109.17, suggesting downside of -8.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 23.70 cents and EPS of 122.80 cents.
At the last closing share price the estimated dividend yield is 0.20%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 96.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 120.3, implying annual growth of 51.5%.
Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 98.8.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 32.10 cents and EPS of 164.70 cents.
At the last closing share price the estimated dividend yield is 0.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 72.19.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 165.0, implying annual growth of 37.2%.
Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 72.1.
Market Sentiment: 0.3
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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