Australian Broker Call *Extra* Edition – Dec 16, 2024

This story features ACUSENSUS LIMITED, and other companies. For more info SHARE ANALYSIS: ACE

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)

ACE   BPT   CU6   EDV (2)   IDX   IMM   NHC   PME   PPT   SKO   SLC   TWE  

ACE    ACUSENSUS LIMITED

Transportation & Logistics – Overnight Price: $1.16

Canaccord Genuity rates ((ACE)) as Buy (1) –

Canaccord Genuity raises FY25-26 revenue forecasts by 4-14% following an unexpected material contract win in New Zealand and expansion in Queensland contract.

The company secured one of its largest contract with the New Zealand Transport Agency, with estimated value of NZ$92m over the initial five-year term. 

The company also secured an expansion of its contract with the Queensland Department of Transport and Main Roads, close to doubling the number of trailer-based mobile phone and seatbelt enforcement units.

The broker considers the company’s $10m share placement to aid working capital and accelerate product innovation and operational capacity as an effective IPO. It believes 2025 will be a strong year for Acusensus.

Canaccord raises its target price to $1.50 and maintains its Buy rating.

This report was published on December 12, 2024.

Target price is $1.50 Current Price is $1.16 Difference: $0.34
If ACE meets the Canaccord Genuity target it will return approximately 29% (excluding dividends, fees and charges).
The company’s fiscal year ends in July.

Forecast for FY25:

Canaccord Genuity 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 165.71.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 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 386.67.

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

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.36

Wilsons rates ((BPT)) as Overweight (1) –

Wilsons observes Beach Energy’s Waitsia gas plant has reached mechanical completion, with commissioning activities underway, including water flushing and nitrogen purging.

First gas is expected in the second quarter of 2025, following a two-month delay due to valve failures during commissioning, which are being rectified, highlights the broker.

Management has deployed additional personnel to enhance influence over the project, though Wilsons points to limited control over deliverability and quality assurance remains a concern. Production guidance for first gas aligns with the broker’s operational forecasts.

Wilsons retains its Overweight rating and a $1.66 target

This report was published on December 11, 2024.

Target price is $1.66 Current Price is $1.36 Difference: $0.3
If BPT meets the Wilsons target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $1.49, suggesting upside of 9.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 5.90 cents and EPS of 19.60 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 6.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.1, implying annual growth of N/A.
Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 8.0.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 11.10 cents and EPS of 25.70 cents.
At the last closing share price the estimated dividend yield is 8.16%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.29.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.8, implying annual growth of 27.5%.
Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 6.8%.
Current consensus EPS estimate suggests the PER is 6.2.

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

CU6    CLARITY PHARMACEUTICALS LIMITED

Medical Equipment & Devices – Overnight Price: $4.54

Wilsons rates ((CU6)) as Overweight (1) –

Clarity Pharmaceuticals is progressing with its Co-PSMA trial to evaluate 64Cu-SAR-bisPSMA against 68Ga-PSMA-11 in detecting biochemical recurrence of prostate cancer, highlights Wilsons.

The broker highlights revised timing assumptions for 64Cu-SAR-bisPSMA which defers the analyst’s revenue forecast to 2027, while maintaining the peak sales estimate of US$950m.

Wilsons feels the recent share price correction may reflect perceptions of market challenges for new entrants, though Clarity’s differentiated clinical benefits are seen as promising.

Overweight rating maintained. Target slips to $8.40 from $8.48.

This report was published on December 12, 2024.

Target price is $8.48 Current Price is $4.54 Difference: $3.94
If CU6 meets the Wilsons target it will return approximately 87% (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.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents.

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

EDV    ENDEAVOUR GROUP LIMITED

Food, Beverages & Tobacco – Overnight Price: $4.26

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

Goldman Sachs lowers Endeavour Group’s FY25 revenue forecast by -0.2-0.4% and EBIT estimate by -0.6-1.5% to account for the negative sales impact from the Woolworths Group ((WOW)) distribution centre strike that impacted stock availability at some of Endeavour’s retail stores mainly in Victoria, Tasmania and Southern New South Wales.

The broker has constructed sensitivity analysis, with the low case based on the adverse sales impact of -$25m quantified by the company on December 10 and its own assumption of a high case impact of -$50m.

The broker acknowledges this is an evolving situation and would seek further clarity on the recovery path of store service levels into Christmas and the new year.

Goldman Sachs retains a Buy rating and maintains its $5.50 target price.

This report was published on December 11, 2024.

Target price is $5.50 Current Price is $4.26 Difference: $1.24
If EDV meets the Goldman Sachs target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $4.89, suggesting upside of 14.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 20.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 4.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.0, implying annual growth of -9.1%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 22.00 cents and EPS of 29.00 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 14.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.6, implying annual growth of 10.0%.
Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 14.9.

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 ((EDV)) as Neutral (3) –

Jarden highlights lost sales for Endeavour Group from industrial action at two of the Victorian distribution centres at -$25m.

The losses are expected to rise as the stores are restocked but they are also lowered than feared at -0.8% of 2Q25 sales to date, offsetting only marginally the robust October EGM trading update.

Jarden reduces FY25 EPS forecast by -0.4%. No change to the Neutral rating or $5 target price.

This report was published on December 10, 2024.

Target price is $5.00 Current Price is $4.26 Difference: $0.74
If EDV meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.89, suggesting upside of 14.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 20.00 cents and EPS of 26.20 cents.
At the last closing share price the estimated dividend yield is 4.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.0, implying annual growth of -9.1%.
Current consensus DPS estimate is 18.7, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 16.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 29.40 cents.
At the last closing share price the estimated dividend yield is 4.93%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.6, implying annual growth of 10.0%.
Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 14.9.

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

IDX    INTEGRAL DIAGNOSTICS LIMITED

Medical Equipment & Devices – Overnight Price: $3.03

Jarden rates ((IDX)) as Buy (1) –

Jarden notes the ACCC has approved the proposed merger between Integral Diagnostics and Capitol Health ((CAJ)) with the divestment of one clinic in Victoria.

The scheme implementation date is December 20 when new Integral Diagnostics shares will be issued to Capitol shareholders.

Jarden downgrades the EPS forecast by -3.8% due to the change in the merger timeline.

Target price slips by -1% to $3.68. The broker maintains a Buy rating and highlights the potential earnings upside consensus has yet to account for.

This report was published on December 10, 2024.

Target price is $3.68 Current Price is $3.03 Difference: $0.65
If IDX meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $3.36, suggesting upside of 10.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 6.80 cents and EPS of 10.90 cents.
At the last closing share price the estimated dividend yield is 2.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 11.0, implying annual growth of N/A.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 27.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.90 cents and EPS of 17.40 cents.
At the last closing share price the estimated dividend yield is 2.61%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.6, implying annual growth of 32.7%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 20.8.

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

IMM    IMMUTEP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.36

Canaccord Genuity rates ((IMM)) as Buy (1) –

Canaccord Genuity notes Immutep’s announcement of more positive data from its TACTI-003 Cohort B study was very validating, providing further color on the benefit of Efti + Keytruda combination.

The broker says the study is for the first time showing the synergistic effect of the combo drug approach, with extended median overall survival benefits and increasing number of complete responders that turn cold tumors to hot.

Buy rating and $0.95 target.

This report was published on December 12, 2024.

Target price is $0.95 Current Price is $0.36 Difference: $0.585
If IMM meets the Canaccord Genuity target it will return approximately 160% (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

NHC    NEW HOPE CORPORATION LIMITED

Coal – Overnight Price: $5.01

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

New Hope’s Q1 FY25 saleable coal production and sales were in line with Goldman Sach’s estimates, with an improved performance from the Bengalla mine offsetting lower than expected volumes at New Acland due to lower coal yields.

Overall FY25 guidance was also broadly in line with the broker, resulting in minor downward revision of -3% to FY earnings, and upward revision of 2% for FY26.

The changes incorporate lower costs at Bengalla, and lower coal yields at New Acland and realised pricing going forward.

Sell rating with a $4.30 target price.

This report was published on December 11, 2024.

Target price is $4.30 Current Price is $5.01 Difference: minus $0.71 (current price is over target).
If NHC meets the Goldman Sachs target it will return approximately minus 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.38, suggesting upside of 7.3%(ex-dividends)
The company’s fiscal year ends in July.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 37.00 cents and EPS of 0.61 cents.
At the last closing share price the estimated dividend yield is 7.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 821.31.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 66.7, implying annual growth of 18.5%.
Current consensus DPS estimate is 39.5, implying a prospective dividend yield of 7.9%.
Current consensus EPS estimate suggests the PER is 7.5.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 23.00 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 4.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.18.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.8, implying annual growth of -7.3%.
Current consensus DPS estimate is 34.8, implying a prospective dividend yield of 6.9%.
Current consensus EPS estimate suggests the PER is 8.1.

Market Sentiment: 0.8
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: $249.63

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

Goldman Sachs has raised FY26-27 earnings by 4-8% to reflect the inclusion of Trinity Health, partially offset by lower revenue growth in Australia and Europe.

The broker forecasts a strong increase in the value and cadence of contract wins over time, with material upside likely from outsized contracts over $100m. 

The broker has raised its target price to $278 from $221, with rating maintained at Buy.

This report was published on December 11, 2024.

Target price is $278.00 Current Price is $249.63 Difference: $28.37
If PME meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $181.10, suggesting downside of -27.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 54.00 cents and EPS of 106.00 cents.
At the last closing share price the estimated dividend yield is 0.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 235.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 105.5, implying annual growth of 33.1%.
Current consensus DPS estimate is 52.0, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 236.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 71.00 cents and EPS of 139.00 cents.
At the last closing share price the estimated dividend yield is 0.28%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 179.59.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 151.6, implying annual growth of 43.7%.
Current consensus DPS estimate is 71.6, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 164.7.

Market Sentiment: -0.4
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: $19.99

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

The ATO ruling on the tax treatment of the sale of the Corporate Trust and Wealth divisions is viewed as disappointing by Jarden for Perpetual.

The higher tax liability will reduce the net cash proceeds to shareholders by -33% and lowers the chances of the KKR deal proceeding.

Management previously estimated the tax liability at -$106m-$227m, but this has now increased to -$493m-$529m.

Jarden explains uncertainty over the transaction leads the analyst to value Perpetual using a discounted cash flow and relative price-to-earnings ratio. This increases the target price to $24.20 from $22.70.

Overweight rating maintained.

This report was published on December 13, 2024.

Target price is $24.20 Current Price is $19.99 Difference: $4.21
If PPT meets the Jarden target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $22.86, suggesting upside of 14.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 96.70 cents and EPS of 171.90 cents.
At the last closing share price the estimated dividend yield is 4.84%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 174.4, implying annual growth of N/A.
Current consensus DPS estimate is 121.2, implying a prospective dividend yield of 6.1%.
Current consensus EPS estimate suggests the PER is 11.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 108.50 cents and EPS of 193.10 cents.
At the last closing share price the estimated dividend yield is 5.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 182.0, implying annual growth of 4.4%.
Current consensus DPS estimate is 129.0, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 11.0.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SKO    SERKO LIMITED

Software & Services – Overnight Price: $3.36

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

Jarden observes the recent pickup in Booking.com for Business activity as supportive of higher confidence in the unmanaged travel growth path, with recent acquisitions of GetThere and a partnership with Sabre de-risking ‘single customer’ risk for Serko.

The company hosted an investor day where management highlighted an acceleration in activity on Booking.com for Business, with better customer interaction on the tool as it scales.

No change to the Overweight rating or NZ$4.70 target price.

This report was published on December 11, 2024.

Current Price is $3.36. Target price not assessed.
Current consensus price target is $5.08, suggesting upside of 51.2%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 2.39 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 140.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -8.6, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.18 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1826.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -1.3, 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.

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: $2.20

Wilsons rates ((SLC)) as Overweight (1) –

Wilsons highlights Superloop’s acquisition of Uecomm, which adds over 2,000km of high-capacity fibre assets, including 800km of owned duct, across Sydney, Melbourne, and Brisbane.

The deal, valued at -$17.5m and funded through existing cash and debt facilities, is expected to close in early 2025, initially contributing neutral earnings (EBITDA) but offering long-term synergies, observe the analysts.

Benefits include improved margins from moving clients to owned infrastructure, expanded product opportunities in wholesale and business segments, and enhanced readiness for Smart Community developments, explains the broker.

Overweight rating. Target $1.91.

This report was published on December 10, 2024.

Target price is $1.91 Current Price is $2.20 Difference: minus $0.29 (current price is over target).
If SLC meets the Wilsons target it will return approximately minus 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $2.15, suggesting downside of -2.3%(ex-dividends)
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 1.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 137.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, 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 41.5.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 48.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.1, implying annual growth of 34.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 31.0.

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

TWE    TREASURY WINE ESTATES LIMITED

Food, Beverages & Tobacco – Overnight Price: $11.74

Jarden rates ((TWE)) as Buy (1) –

Jarden believes Treasury Wine Estates remains “fundamentally undervalued.” The analyst forecasts Penfolds’ China returns to around 85% of its historical earnings levels by FY28 and two-thirds of previous peak volume.

There are no changes to the broker’s forecasts. Jarden highlights the company is increasingly skewed toward an improved business mix of luxury brands like Penfolds, Daou, Franks, and others, which have pricing power, excess demand, and are growing.

Buy rating or $14.10 target price are retained.

This report was published on December 10, 2024.

Target price is $14.10 Current Price is $11.74 Difference: $2.36
If TWE meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $13.71, 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 42.00 cents and EPS of 62.40 cents.
At the last closing share price the estimated dividend yield is 3.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.7, implying annual growth of 385.8%.
Current consensus DPS estimate is 41.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.0.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 50.00 cents and EPS of 74.20 cents.
At the last closing share price the estimated dividend yield is 4.26%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 71.5, implying annual growth of 15.9%.
Current consensus DPS estimate is 48.1, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 16.4.

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

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