Australian Broker Call *Extra* Edition – Oct 08, 2024

This story features AUDINATE GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: AD8

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.

One key difference is the *Extra* Edition will not be updated daily, but merely “regularly” depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena’s team of journalists.

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.

COMPANIES DISCUSSED IN THIS ISSUE

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)

AD8   AGN   AIA   ALD   AMP   APE   ASX   BMT   CGF   CIA   CLV   CPU   CWY   DOW   EXR   FCL   HMC   HUB   IFL   IFT   KAR   MFG (2)   NWL   OCL   PME   PPT   PTM   QUB   STN   TCL  

AD8    AUDINATE GROUP LIMITED

Hardware & Equipment – Overnight Price: $9.72

Moelis rates ((AD8)) as Initiation of coverage with Hold (3) –

As well as hardware and software to connect audio visual (AV) devices, Audinate Group also provides network management
software tools, highlights Moelis. Value and functionality are driving adoption of IP based network infrastructure (AVoIP) solutions.

Simplifying the task of setting up an installation, AVoIP allows the transmission and switching of audio and video signals over existing ethernet IP networks, explains the broker.

The broker initiates research coverage with a Hold rating due to an opaque near-term outlook as supply chains normalise following covid. It’s felt earnings will be skewed to the 2H of FY25. For the longer-term, the analyst sees significant strategic value and growth.

This report was published on October 3, 2024.

Target price is $10.50 Current Price is $9.72 Difference: $0.78
If AD8 meets the Moelis target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $11.53, suggesting upside of 19.8%(ex-dividends)
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 4.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 231.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.2, implying annual growth of -90.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 801.7.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 109.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.8, implying annual growth of 550.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 123.3.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AGN    ARGENICA THERAPEUTICS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.70

Petra Capital rates ((AGN)) as Buy (1) –

Petra Capital observes Argenica Therapeutics’ intention to file its IND with the FDA by the end of 2024 for the stroke drug ARG-007 as the company has finished the non-clinical studies to enable the next phase of the approval process.

The broker expects FDA approval for the ARG-007 stroke treatment in 1Q2025.

Buy rating and $1.14 target price retained.

This report was published on October 4, 2024.

Target price is $1.14 Current Price is $0.70 Difference: $0.435
If AGN meets the Petra Capital target it will return approximately 62% (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 minus 5.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 11.95.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 30.65.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AIA    AUCKLAND INTERNATIONAL AIRPORT LIMITED

Infrastructure & Utilities – Overnight Price: $6.70

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Forecast for FY25:

Current consensus EPS estimate is 18.0, implying annual growth of N/A.
Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 37.2.

Forecast for FY26:

Current consensus EPS estimate is 19.6, implying annual growth of 8.9%.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 34.1.

This company reports in NZD. 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

ALD    AMPOL LIMITED

Consumer Products & Services – Overnight Price: $31.27

Goldman Sachs rates ((ALD)) as Buy (1) –

Goldman Sachs is Neutral rated with a $35.60 target price for Ampol.

The analyst points to risks around “compression” on fuel and refining margins with restricted scope for improved margins as Lytton finishes its turnaround.

Challenges on margins could see a return to 2022 levels, the broker highlights with consensus estimates perceived as too high possibly in 2024.

This report was published on October 4, 2024.

Target price is $35.60 Current Price is $31.27 Difference: $4.33
If ALD meets the Goldman Sachs target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $34.46, suggesting upside of 11.4%(ex-dividends)

Forecast for FY24:

Current consensus EPS estimate is 193.7, implying annual growth of -15.9%.
Current consensus DPS estimate is 157.5, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 16.0.

Forecast for FY25:

Current consensus EPS estimate is 226.0, implying annual growth of 16.7%.
Current consensus DPS estimate is 219.5, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 13.7.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

AMP    AMP LIMITED

Wealth Management & Investments – Overnight Price: $1.33

Jarden rates ((AMP)) as Neutral (3) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Across the wealth managers, Hub24 and Insignia Financial benefit the most, reflecting higher platform revenue margins and
leverage from thinner margins, respectively, explain the analysts.

The target price for AMP rises to $1.35 from $1.30. Neutral.

This report was published on October 4, 2024.

Target price is $1.35 Current Price is $1.33 Difference: $0.02
If AMP meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $1.35, suggesting upside of 1.5%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 5.50 cents and EPS of 9.10 cents.
At the last closing share price the estimated dividend yield is 4.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.62.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.6, implying annual growth of 1106.3%.
Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 17.5.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 7.50 cents and EPS of 11.40 cents.
At the last closing share price the estimated dividend yield is 5.64%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.9, implying annual growth of 30.3%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 13.4.

Market Sentiment: 0.3
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: $11.07

Canaccord Genuity rates ((APE)) as Hold (3) –

Australian vehicle sales fell by -9.8% in September after adjusting for Tesla and Polestar sales, notes Canaccord Genuity, though absolute sales numbers represent the continuation of a strong environment.

For those investors looking out a couple of years, the broker recommends Eagers Automotive which is currently undervalued through
the cycle and trading at an attractive valuation.

Hold. Target $11.00.

This report was published on October 4, 2024.

Target price is $11.00 Current Price is $11.07 Difference: minus $0.07 (current price is over target).
If APE meets the Canaccord Genuity target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $11.89, suggesting upside of 8.0%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 60.00 cents and EPS of 96.80 cents.
At the last closing share price the estimated dividend yield is 5.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.44.

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 6.0%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 57.00 cents and EPS of 87.10 cents.
At the last closing share price the estimated dividend yield is 5.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.71.

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 6.0%.
Current consensus EPS estimate suggests the PER is 11.7.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $65.38

Goldman Sachs rates ((ASX)) as Sell (5) –

Goldman Sachs highlights the September quarter update from ASX including a decline in listed entities to 2,124 from 2,155 from 46 de-listings and 15 new listings.

The broker points to robust futures volumes for 1Q25 rising 32.9% on the year earlier; 90-day bank bill volumes rose 34.7%, with 3-year bonds up 43.9% and 10-year bonds up 34.2%.

Higher trading volumes assisted settlement volumes over the quarter, also, the analyst notes.

Sell rating remains. Target price lifts to $59.50 from $59.

This report was published on October 6, 2024.

Target price is $59.50 Current Price is $65.38 Difference: minus $5.88 (current price is over target).
If ASX meets the Goldman Sachs target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $60.62, suggesting downside of -7.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 218.00 cents and EPS of 256.00 cents.
At the last closing share price the estimated dividend yield is 3.33%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 249.2, implying annual growth of 1.8%.
Current consensus DPS estimate is 211.6, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 26.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 221.00 cents and EPS of 260.00 cents.
At the last closing share price the estimated dividend yield is 3.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.15.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 261.7, implying annual growth of 5.0%.
Current consensus DPS estimate is 220.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 25.1.

Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BMT    BEAMTREE HOLDINGS LIMITED

Healthcare services – Overnight Price: $0.30

Petra Capital rates ((BMT)) as Buy (1) –

Petra Capital predicts the share price for Beamtree Holdings will re-rate after a symbolic but strategic $0.5m contract win in the Kingdom of Saudi Arabia with the Centre for National Health Insurance (CNHI). Further downstream recurring revenue opportunities are expected.

As the CNHI is effectively the counterparty (payer) to the hospital network, the broker anticipates an on-ramp opportunity to deploy the company’s performance indicators for coding quality (PICQ) tool inside around 400 hospitals in the Kingdom.

Target rises to 56c from 54c. Buy.

This report was published on October 4, 2024.

Target price is $0.56 Current Price is $0.30 Difference: $0.26
If BMT meets the Petra Capital target it will return approximately 87% (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 minus 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 100.00.

Forecast for FY26:

Petra Capital 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 17.65.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CGF    CHALLENGER LIMITED

Wealth Management & Investments – Overnight Price: $6.74

Jarden rates ((CGF)) as Overweight (2) –

Jarden finds the investment thesis for Challenger “compelling” due to valuation metrics and institutional annuity optionality.

The broker raises earnings forecasts for the company following a softening in the global cash rate outlook over the September quarter and given prospects for RBA rate cuts have been brought forward.

The target price rises to $7.90 from $7.80. Overweight.

This report was published on October 4, 2024.

Target price is $7.90 Current Price is $6.74 Difference: $1.16
If CGF meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $7.90, suggesting upside of 18.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 26.10 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 3.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.5, implying annual growth of 208.2%.
Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 11.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 26.40 cents and EPS of 62.80 cents.
At the last closing share price the estimated dividend yield is 3.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.4, implying annual growth of 8.4%.
Current consensus DPS estimate is 29.3, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 10.6.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CIA    CHAMPION IRON LIMITED

Iron Ore – Overnight Price: $7.01

Jarden rates ((CIA)) as Downgrade to Overweight from Buy (2) –

Jarden forecasts earnings at Champion Iron will continue to support dividends and highlights how the company will benefit from maturing higher-grade iron concentrate markets, which recognise emission reduction benefits.

These high-grade iron concentrates trade at material premiums to the 62% Fe iron ore index, point out the analysts. The company’s 100%-owned Bloom Lake mine in northern Quebec, Canada produces around 15mtpa of this product.

Jarden initiates coverage of Champion Iron with a Buy rating and 7.15 target. In a sluggish iro ore pricing environment, the shift into higher grade production is expected to support average realised prices.

This report was published on October 4, 2024.

Target price is $7.15 Current Price is $7.01 Difference: $0.14
If CIA meets the Jarden target it will return approximately 2% (excluding dividends, fees and charges).
The company’s fiscal year ends in March.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 28.93 cents and EPS of 63.99 cents.
At the last closing share price the estimated dividend yield is 4.13%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.96.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 15.58 cents and EPS of 42.18 cents.
At the last closing share price the estimated dividend yield is 2.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.62.

This company reports in CAD. 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

CLV    CLOVER CORPORATION LIMITED

Health & Nutrition – Overnight Price: $0.52

Taylor Collison rates ((CLV)) as Speculative Buy (1) –

Clover’s FY24 results on September 26 revealed earnings (EBITDA) of $4m compared to Taylor Collison’s $3.2m forecast due to a lower- than-anticipated research and development and marketing spend.

In order to protect the supply chain while also helping to improve gross margins, explains the broker, management announced the investment of -$5m in a fish oil extraction facility in Ecuador. The aim is to provide an internal source of fish oil.

While Clover leads the world in manufacturing of micro-encapsulated Docosahexaenoic Acid (DHA), the analysts note competition from increasing use of algal oil (produced on a large scale in China) in infant formula.

The Speculative Buy rating is maintained. No target price is set.

This report was published on October 4, 2024.

Current Price is $0.52. Target price not assessed.
The company’s fiscal year ends in July.

Forecast for FY25:

Taylor Collison forecasts a full year FY25 dividend of 1.20 cents and EPS of 3.30 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.76.

Forecast for FY26:

Taylor Collison forecasts a full year FY26 dividend of 1.80 cents and EPS of 3.50 cents.
At the last closing share price the estimated dividend yield is 3.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.86.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CPU    COMPUTERSHARE LIMITED

Diversified Financials – Overnight Price: $25.76

Goldman Sachs rates ((CPU)) as Buy (1) –

Goldman Sachs makes minor changes to EPS forecasts for market-to-market on lower US yields, yet the broker’s FY25 EPS estimates remain in line with the company’s guidance.

In FY25 the analyst highlights earnings recovery in corporate trusts with a robust balance sheet to underpin earnings positive acquisitions and share buybacks.

No change to Buy rating and $30 target price.

This report was published on October 4, 2024.

Target price is $30.00 Current Price is $25.76 Difference: $4.24
If CPU meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $29.40, suggesting upside of 13.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 85.00 cents and EPS of 187.68 cents.
At the last closing share price the estimated dividend yield is 3.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 186.0, implying annual growth of N/A.
Current consensus DPS estimate is 85.0, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 14.0.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 85.00 cents and EPS of 190.71 cents.
At the last closing share price the estimated dividend yield is 3.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 193.1, implying annual growth of 3.8%.
Current consensus DPS estimate is 88.3, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 13.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

CWY    CLEANAWAY WASTE MANAGEMENT LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $2.91

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Forecast for FY25:

Current consensus EPS estimate is 9.1, implying annual growth of 29.4%.
Current consensus DPS estimate is 5.7, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 31.9.

Forecast for FY26:

Current consensus EPS estimate is 11.8, implying annual growth of 29.7%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 24.6.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

DOW    DOWNER EDI LIMITED

Industrial Sector Contractors & Engineers – Overnight Price: $5.42

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Forecast for FY25:

Current consensus EPS estimate is 38.6, implying annual growth of 274.4%.
Current consensus DPS estimate is 22.8, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 14.1.

Forecast for FY26:

Current consensus EPS estimate is 45.6, implying annual growth of 18.1%.
Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 12.0.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

EXR    ELIXIR ENERGY LIMITED

Overnight Price: $0.17

Petra Capital rates ((EXR)) as Initiation of coverage with Buy (1) –

Petra Capital initiates research coverage on Elixir Energy with a Buy rating and 25c target.

The company owns and operates the Grandis Gas project in the Taroom Trough of the Bowen Basin (QLD) which is strategically placed between operations of other major companies, highlights the broker.

The large 1.5 trillion cubic feet resource is close to end-customers and an extensive pipeline network, highlights the analyst. It is the largest new source of gas (close to infrastructure) for the east coast market, points out the analyst.

Early production testing at the Daydream-2 well has indicated commercial flow rates, notes the broker. The Daydream-3 well is expected to further grow and appraise the resource in the 1H of FY25, before first production in FY29.

This report was published on October 4, 2024.

Target price is $0.25 Current Price is $0.17 Difference: $0.085
If EXR meets the Petra Capital target it will return approximately 52% (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 minus 0.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 41.25.

Forecast for FY26:

Petra Capital forecasts a full year FY26 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 55.00.

All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

FCL    FINEOS CORPORATION HOLDINGS PLC

Cloud services – Overnight Price: $1.40

Moelis rates ((FCL)) as Initiation of coverage with Buy (1) –

Insurers seeking an edge in a competitive environment from disruptors and private equity look favourably upon what Fineos Corp has to offer, observes Moelis.

The company’s software platforms and modules provide Life, Accident and Health (LA&H) Insurers products on SaaS based IT architecture.

These offerings promote agile operations at insurers and the capacity to deliver services to clients at lower cost, explains the broker.

Moelis begins research coverage with a Buy rating and $1.80 target. The broker likes the company’s comprehensive product suite, which now includes New Business Underwriting.

This report was published on October 3, 2024.

Target price is $1.80 Current Price is $1.40 Difference: $0.4
If FCL meets the Moelis target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 5.42 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 25.82.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.63 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 53.25.

This company reports in EUR. 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

HMC    HMC CAPITAL LIMITED

Wealth Management & Investments – Overnight Price: $8.60

Goldman Sachs rates ((HMC)) as Initiate with Buy (1) –

Goldman Sachs initiates coverage of HMC Capital with a Buy rating and $8.94 target price.

The broker highlights HMC Capital is an alternative asset management with involvement in major asset classes including real estate, private credit, energy transition, value-add infrastructure and private credit.

Private credit is particularly interesting to the analyst due to higher investor allocation to private markets and private credit for borrowers, a change in public markets to bigger deals and growth in commercial real estate from housing undersupply.

Goldman Sachs estimates 13% EPS growth per annum from FY25-FY27. Buy rated, with $8.94 target.

This report was published on October 7, 2024.

Target price is $8.94 Current Price is $8.60 Difference: $0.34
If HMC meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $8.10, suggesting downside of -6.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 12.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 1.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.0, implying annual growth of 80.1%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 25.4.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 14.00 cents and EPS of 41.00 cents.
At the last closing share price the estimated dividend yield is 1.63%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 6.8%.
Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 23.8.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $61.26

Jarden rates ((HUB)) as Underweight (4) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Across the wealth managers, Hub24 and Insignia Financial benefit the most, reflecting higher platform revenue margins and
leverage from thinner margins, respectively, explain the analysts.

The target price for Hub24 rises to $47.30 from $44.20. Underweight.

This report was published on October 4, 2024.

Target price is $47.30 Current Price is $61.26 Difference: minus $13.96 (current price is over target).
If HUB meets the Jarden target it will return approximately minus 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $55.30, suggesting downside of -8.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 55.40 cents and EPS of 110.80 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 55.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 109.0, implying annual growth of 87.4%.
Current consensus DPS estimate is 51.9, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 55.2.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 66.60 cents and EPS of 133.20 cents.
At the last closing share price the estimated dividend yield is 1.09%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 45.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 130.1, implying annual growth of 19.4%.
Current consensus DPS estimate is 63.5, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 46.2.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IFL    INSIGNIA FINANCIAL LIMITED

Wealth Management & Investments – Overnight Price: $2.75

Jarden rates ((IFL)) as Overweight (2) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Across the wealth managers, Hub24 and Insignia Financial benefit the most, reflecting higher platform revenue margins and
leverage from thinner margins, respectively, explain the analysts.

The target price for Insignia Financial rises to $3.30 from $3.10. Overweight.

This report was published on October 4, 2024.

Target price is $3.30 Current Price is $2.75 Difference: $0.55
If IFL meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.44, suggesting downside of -9.6%(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 36.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 7.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.8, implying annual growth of N/A.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 8.0.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 27.50 cents and EPS of 39.60 cents.
At the last closing share price the estimated dividend yield is 10.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.5, implying annual growth of 2.1%.
Current consensus DPS estimate is 13.0, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 7.8.

Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

IFT    INFRATIL LIMITED

Wealth Management & Investments – Overnight Price: $11.16

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

KAR    KAROON ENERGY LIMITED

Crude Oil – Overnight Price: $1.62

Goldman Sachs rates ((KAR)) as Buy (1) –

Goldman Sachs views the valuation of Karoon Energy as attractive and expects further increases as Neon achieves full production around 2028.

With forecasts of oil prices staying higher-for-longer, Karoon Energy should be able to generate robust free cashflows.

Buy rating and $2.20 target.

This report was published on October 4, 2024.

Target price is $2.20 Current Price is $1.62 Difference: $0.58
If KAR meets the Goldman Sachs target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $2.28, suggesting upside of 41.4%(ex-dividends)

Forecast for FY24:

Current consensus EPS estimate is 45.0, implying annual growth of N/A.
Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 3.6.

Forecast for FY25:

Current consensus EPS estimate is 37.2, implying annual growth of -17.3%.
Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 4.3.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

MFG    MAGELLAN FINANCIAL GROUP LIMITED

Wealth Management & Investments – Overnight Price: $10.24

Goldman Sachs rates ((MFG)) as Neutral (3) –

Magellan Financial reported a rise in FUM of $1.4bn for the 1Q25, Goldman Sachs highlights, due to robust equity markets offsetting retail outflows of -$1bn and a higher Australia dollar.

The analyst believes the retail outflows at around -$0.2bn per month are on track against improved institutional inflows for July.

Magellan Financial experienced a rise of around 3% in funds over the month to September for Airlie, with global equities down circa -2% over the same period and infrastructure up 2%.

No change to Neutral rating. Target price lifts to $10.10 from $10.

This report was published on October 6, 2024.

Target price is $10.10 Current Price is $10.24 Difference: minus $0.14 (current price is over target).
If MFG meets the Goldman Sachs target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.06, suggesting upside of 1.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 64.00 cents and EPS of 77.00 cents.
At the last closing share price the estimated dividend yield is 6.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 68.3, implying annual growth of -48.2%.
Current consensus DPS estimate is 54.9, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 52.00 cents and EPS of 74.00 cents.
At the last closing share price the estimated dividend yield is 5.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.84.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.6, implying annual growth of 7.8%.
Current consensus DPS estimate is 59.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 13.5.

Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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Jarden rates ((MFG)) as Neutral (3) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Among the asset managers, the broker sees the greatest upside for Perpetual on valuation grounds.

For Magellan Financial, the target price rises to $10.00 from $9.70. Neutral.

This report was published on October 4, 2024.

Target price is $10.00 Current Price is $10.24 Difference: minus $0.24 (current price is over target).
If MFG meets the Jarden target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $10.06, suggesting upside of 1.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 50.70 cents and EPS of 80.70 cents.
At the last closing share price the estimated dividend yield is 4.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 68.3, implying annual growth of -48.2%.
Current consensus DPS estimate is 54.9, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 14.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 44.40 cents and EPS of 78.30 cents.
At the last closing share price the estimated dividend yield is 4.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.6, implying annual growth of 7.8%.
Current consensus DPS estimate is 59.8, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 13.5.

Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $25.60

Jarden rates ((NWL)) as Underweight (4) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Across the wealth managers, Hub24 and Insignia Financial benefit the most, reflecting higher platform revenue margins and
leverage from thinner margins, respectively, explain the analysts.

The target price for Netwealth Group rises to $18.20 from $17.20. Underweight.

This report was published on October 4, 2024.

Target price is $18.20 Current Price is $25.60 Difference: minus $7.4 (current price is over target).
If NWL meets the Jarden target it will return approximately minus 29% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $22.19, suggesting downside of -13.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 38.40 cents and EPS of 44.20 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 57.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 43.3, implying annual growth of 26.8%.
Current consensus DPS estimate is 34.9, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 59.2.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 45.60 cents and EPS of 52.50 cents.
At the last closing share price the estimated dividend yield is 1.78%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.4, implying annual growth of 21.0%.
Current consensus DPS estimate is 42.6, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 48.9.

Market Sentiment: 0.4
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: $15.17

Moelis rates ((OCL)) as Initiation of coverage with Buy (1) –

Moelis initiates coverage on Objective Corp with a Buy rating and target price of $17.60, more than 20% above the $14.46 average of three covering brokers in the FNArena database.

The company provides software to help organisations govern, manage and protect data, explains the broker.

The strength of customer relationships and the experience of management is evident, suggests the analyst, from ongoing revenue and earnings growth in a competitive segment.

At the same time, Objective has been managing the transition to SaaS services from on-premise licence sales.

Moelis anticipates near-term earnings growth via new client wins and existing client upsell, while longer-term earnings should emanate from expansion into new lines of business and geographies.

This report was published on October 3, 2024.

Target price is $17.60 Current Price is $15.17 Difference: $2.43
If OCL meets the Moelis target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $14.47, suggesting downside of -4.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 17.80 cents and EPS of 34.40 cents.
At the last closing share price the estimated dividend yield is 1.17%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 36.3, implying annual growth of 10.3%.
Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 41.6.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 20.70 cents and EPS of 40.20 cents.
At the last closing share price the estimated dividend yield is 1.36%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 41.5, implying annual growth of 14.3%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 36.4.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PME    PRO MEDICUS LIMITED

Medical Equipment & Devices – Overnight Price: $182.31

Goldman Sachs rates ((PME)) as Buy (1) –

The contract terms between Pro Medicus and Mercy Health have been negotiated at a higher per-transaction cost and the contract duration increased to eight years from seven.

The new contract for $98m replaces the Visage Viewer $21m contract struck in April 2016, and the $15m for Open Archive in June 2018.

The industry norm is for a shorter extension, highlights Goldman Sachs. Overall, it’s felt the extension is a reflection of the strong return on investment (ROI) generated via Visage despite its price premium relative to peers.

The pipeline remains healthy, believe the analysts. The Buy rating and $193 target are maintained.

This report was published on October 8, 2024.

Target price is $193.00 Current Price is $182.31 Difference: $10.69
If PME meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $128.50, suggesting downside of -28.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 54.10 cents and EPS of 104.00 cents.
At the last closing share price the estimated dividend yield is 0.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 175.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 102.7, implying annual growth of 29.6%.
Current consensus DPS estimate is 51.4, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 174.2.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 68.00 cents and EPS of 133.00 cents.
At the last closing share price the estimated dividend yield is 0.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 137.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 135.7, implying annual growth of 32.1%.
Current consensus DPS estimate is 67.8, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 131.9.

Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PPT    PERPETUAL LIMITED

Wealth Management & Investments – Overnight Price: $19.90

Jarden rates ((PPT)) as Overweight (2) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Among the asset managers, the broker sees the greatest upside for Perpetual on valuation grounds.

The target price for Perpetual rises to $22.35 from $21.85. Overweight.

This report was published on October 4, 2024.

Target price is $22.35 Current Price is $19.90 Difference: $2.45
If PPT meets the Jarden target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $23.08, suggesting upside of 16.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 95.00 cents and EPS of 168.70 cents.
At the last closing share price the estimated dividend yield is 4.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 173.0, implying annual growth of N/A.
Current consensus DPS estimate is 120.6, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 11.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 106.20 cents and EPS of 188.70 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 180.4, implying annual growth of 4.3%.
Current consensus DPS estimate is 128.2, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 11.0.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

PTM    PLATINUM ASSET MANAGEMENT LIMITED

Wealth Management & Investments – Overnight Price: $1.23

Jarden rates ((PTM)) as Neutral (3) –

Jarden makes positive revisions of around 1% on average after marking-to-market asset under management (AUM) forecasts across the broker’s coverage of wealth managers and asset managers.

These changes follow softer interest rates and positive equity markets over the September quarter.

Among the asset managers, the broker sees the greatest upside for Perpetual on valuation grounds.

The broker’s target price for Platinum Asset Management falls to 94c from $1.00 after a weaker aggregate fund performance throughout August weighed, resulting in forecast earnings downgrades of between -5-7%. Neutral.

This report was published on October 4, 2024.

Target price is $0.94 Current Price is $1.23 Difference: minus $0.29 (current price is over target).
If PTM meets the Jarden target it will return approximately minus 24% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 7.70 cents and EPS of 7.90 cents.
At the last closing share price the estimated dividend yield is 6.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.57.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.30 cents and EPS of 7.60 cents.
At the last closing share price the estimated dividend yield is 5.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.18.

Market Sentiment: -0.5
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: $3.86

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Forecast for FY25:

Current consensus EPS estimate is 15.7, implying annual growth of 22.1%.
Current consensus DPS estimate is 9.4, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 24.5.

Forecast for FY26:

Current consensus EPS estimate is 16.8, implying annual growth of 7.0%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 22.9.

Market Sentiment: 0.8
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: $0.26

Petra Capital rates ((STN)) as Buy (1) –

Petra Capital anticipates the Apollo Hill Gold Project will deliver margins for Saturn Metals comparable to higher-grade, conventional carbon-in-leach (CIL) project peers thanks to standout low mining and processing costs.

A pilot project targeted for the 2H of 2025 will inform PFS and DFS studies for the full-scale project and send a strong “proof-of-concept” to debt and equity markets, suggests the broker.

Buy. Target 77c.

This report was published on October 4, 2024.

Target price is $0.77 Current Price is $0.26 Difference: $0.51
If STN meets the Petra Capital target it will return approximately 196% (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 minus 0.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 37.14.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.77.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

TCL    TRANSURBAN GROUP LIMITED

Infrastructure & Utilities – Overnight Price: $13.09

Goldman Sachs – Cessation of coverage

This report was published on October 4, 2024.

Forecast for FY25:

Current consensus EPS estimate is 34.2, implying annual growth of 224.2%.
Current consensus DPS estimate is 64.8, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 38.2.

Forecast for FY26:

Current consensus EPS estimate is 39.4, implying annual growth of 15.2%.
Current consensus DPS estimate is 69.4, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 33.1.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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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.

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