Daily Market Reports | Sep 18 2024
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
EMR FFM GTK IMM MTS NXD PMT RED SMP TLC VR8 WEB
TLC LOTTERY CORPORATION LIMITED
Gaming - Overnight Price: $5.09
Jarden rates ((TLC)) as Neutral (3) -
Following a strong Powerball run in August supported by an accelerated jackpot sequence (tactically employed by Lottery Corp to generate interest), jackpot activity has softened/normalised into September, explains Jarden.
Because of increased FY25 opex requirements, the broker sees around -3% downside risk to the consensus FY25 earnings (EBITDA) forecast, in the absence of any pickup in jackpots.
The Neutral rating and $5.10 target are maintained.
This report was published on September 17, 2024.
Target price is $5.10 Current Price is $5.09 Difference: $0.01
If TLC meets the Jarden target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $5.53, suggesting upside of 8.5%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 16.00 cents and EPS of 16.60 cents.
At the last closing share price the estimated dividend yield is 3.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.2, implying annual growth of -2.2%.
Current consensus DPS estimate is 17.8, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 28.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 16.50 cents and EPS of 18.50 cents.
At the last closing share price the estimated dividend yield is 3.24%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.51.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.5, implying annual growth of 7.1%.
Current consensus DPS estimate is 18.9, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 26.1.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
VR8 VANADIUM RESOURCES LIMITED
New Battery Elements - Overnight Price: $0.04
Petra Capital rates ((VR8)) as Buy (1) -
An internal internal technical review has identified cost and operational efficiency gains for the development of vanadium deposits at the Steelpoortdrift Vanadium Project owned by Vanadium Resources, highlights Petra Capital.
Efficiency can be maximised at this South African project by consolidating mining and processing onto a single site, and by designing modifications to the concentrator and salt roast leach plant designs, explains the broker.
The Buy rating and 16c target are unchanged.
This report was published on September 16, 2024.
Target price is $0.16 Current Price is $0.04 Difference: $0.115
If VR8 meets the Petra Capital target it will return approximately 256% (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 22.50.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WEB WEBJET LIMITED
Travel, Leisure & Tourism - Overnight Price: $7.60
Wilsons rates ((WEB)) as Overweight (1) -
Post demerger, Wilsons expect WebBeds will remain in the ASX200, while there is a risk Webjet B2C will not meet the ASX300 threshold.
The analysts assess an indicative equity value range of between $2.6-3.4bn for WebBeds and $270-370m for Webjet B2C.
The low and high ends of the broker's indicative valuation ranges for WebBeds and Webjet B2C imply a combined post-demerger equity value range of $2.9-3.8bn. This level implies between -2% to plus 28% net value creation compared to Webjet's current market cap.
Overweight. Target rises to $9.59 from $9.52.
This report was published on September 16, 2024.
Target price is $9.59 Current Price is $7.60 Difference: $1.99
If WEB meets the Wilsons target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $9.86, suggesting upside of 29.8%(ex-dividends)
The company's fiscal year ends in March.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 36.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.1, implying annual growth of 96.5%.
Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 0.8%.
Current consensus EPS estimate suggests the PER is 20.5.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 45.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 45.5, implying annual growth of 22.6%.
Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 16.7.
Market Sentiment: 0.7
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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