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This story features AUCKLAND INTERNATIONAL AIRPORT LIMITED, and other companies. For more info SHARE ANALYSIS: AIA
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COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AGY AIA ALC ALL (2) AMA ANZ ASB AUE AX1 BLX BSX BXB (2) CDA (2) CHC COB DOW DRE FMG (2) GL1 GYG IGO JIN JRV LAU LLL MFG MP1 NWL PLS QUB RFF RIO RRL SFR SHL SLC SUL TLS WES WHC
AGY ARGOSY MINERALS LIMITED
New Battery Elements – Overnight Price: $0.03
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
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: $7.23
Jarden rates ((AIA)) as Downgrade to Neutral from Overweight (3) –
Auckland International Airport’s 1H25 normalised net profit missed Jarden’s forecast by -NZ$15m, though the miss at EBITDAFI line was somewhat smaller at -NZ$7m. The airport’s net profit guidance range of NZ$290-320m reflects a NZ$10m lift at the bottom end, the broker notes.
The broker highlights a worsening outlook for the fleet with ongoing engine maintenance delays alongside planned interior refurbishments suggesting 15-20% of its jet fleet will be out of service over the next two years. The analyst has factored these worsening projections into the near-term forecasts, reducing overall passenger volumes by a further -3-5%.
Net profit forecasts for FY25-27 cut by -4-8% on lower aeronautical and retail revenues linked to lower passenger volumes.Target price cut to NZ$8.00 from NZ$8.21, and rating downgraded to Neutral from Overweight.
This report was published on February 21, 2025.
Current Price is $7.23. Target price not assessed.
Current consensus price target is N/A
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 12.13 cents and EPS of 17.24 cents.
At the last closing share price the estimated dividend yield is 1.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.3, implying annual growth of N/A.
Current consensus DPS estimate is 12.4, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 42.3.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 13.23 cents and EPS of 19.25 cents.
At the last closing share price the estimated dividend yield is 1.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.2, implying annual growth of 5.2%.
Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 40.2.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ALC ALCIDION GROUP LIMITED
Healthcare services – Overnight Price: $0.09
Canaccord Genuity rates ((ALC)) as Buy (1) –
Alcidion Group has signed a contract with North Cumbria Health Trust, UK, involving a $38.5m contract over the course of 10 years.
Canaccord Genuity assesses the company appears set to reach the revenue necessary to achieve or even beat FY25 guidance of EBITDA breakeven.
The broker looks for more detail at the upcoming half-year results on February 27. A Buy rating is maintained and the target lifted to $0.13 from $0.09.
This report was published on February 24, 2025.
Target price is $0.13 Current Price is $0.09 Difference: $0.038
If ALC meets the Canaccord Genuity target it will return approximately 41% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 15.33.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 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 46.00.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ALL ARISTOCRAT LEISURE LIMITED
Gaming – Overnight Price: $74.26
Goldman Sachs rates ((ALL)) as Buy (1) –
Goldman Sachs notes Aristocrat Leisure’s AGM commentary suggesting encouraging Australia/NZ performance reflecting new product which follows a softer 2H24 due to intensifying competition.
The company’s $750m share buyback announcement was consistent with the broker’s expectations but the analyst believes Aristocrat is retaining optionality for further M&A, likely within Interactive.
The broker cut FY25 EBITDA forecast by -7% and FY26 by -6% to incorporate the sale of Plarium. Target price rises to $82 from $78 reflecting a 1x increase in core multiple in line with peers. Buy maintained.
This report was published on February 20, 2025.
Target price is $82.00 Current Price is $74.26 Difference: $7.74
If ALL meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $76.36, suggesting upside of 3.0%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 93.00 cents and EPS of 266.00 cents.
At the last closing share price the estimated dividend yield is 1.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.92.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 266.2, implying annual growth of 30.0%.
Current consensus DPS estimate is 92.2, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 27.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 106.00 cents and EPS of 302.00 cents.
At the last closing share price the estimated dividend yield is 1.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.59.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 292.2, implying annual growth of 9.8%.
Current consensus DPS estimate is 96.9, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 25.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((ALL)) as Neutral (3) –
As expected by Jarden, Aristocrat Leisure announced a $750m on-market buyback at its AGM. The company also announced early repayment of US$250m debt from sale proceeds of Plarium, and amended guidance surrounding growth investment segments.
The broker is supportive of a buyback to maintain capital discipline and believes any potential strategic M&A or inorganic investments should be compared to the lower risk of an on-market buyback alternative.
The negative surprise was a decline in the company’s US Gaming Operations Fee Per Day (FPD) amid a relatively strong gross gaming revenue quarter.
The broker cut EPS forecast for FY25-27 by -2.3% over the FY25-27 on the removal of Plarium from continuing operations. Target price of $67 and Neutral rating maintained.
This report was published on February 20, 2025.
Target price is $67.00 Current Price is $74.26 Difference: minus $7.26 (current price is over target).
If ALL meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $76.36, suggesting upside of 3.0%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 90.00 cents and EPS of 266.40 cents.
At the last closing share price the estimated dividend yield is 1.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 27.88.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 266.2, implying annual growth of 30.0%.
Current consensus DPS estimate is 92.2, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 27.9.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 100.00 cents and EPS of 297.20 cents.
At the last closing share price the estimated dividend yield is 1.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.99.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 292.2, implying annual growth of 9.8%.
Current consensus DPS estimate is 96.9, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 25.4.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AMA AMA GROUP LIMITED
Automobiles & Components – Overnight Price: $0.05
Canaccord Genuity rates ((AMA)) as Buy (1) –
Canaccord Genuity observes a better-than-expected first half result from AMA Group with EBITDA signalling the business is on track to meet FY25 estimates.
The results were supported by momentum in Capital SMART and the Wales Heavy Vehicle operation that more than offset the losses within the collision business which is working through a period of change.
The positives include cheaper and more flexible funding and realisation of operational improvements heading into the second half, to which earnings are materially skewed. Buy rating and $0.10 target unchanged.
This report was published on February 24, 2025.
Target price is $0.10 Current Price is $0.05 Difference: $0.049
If AMA meets the Canaccord Genuity target it will return approximately 96% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.00.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.20.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ANZ ANZ GROUP HOLDINGS LIMITED
Banks – Overnight Price: $29.34
Jarden rates ((ANZ)) as Upgrade to Overweight from Neutral (2) –
Jarden believes ANZ Bank is on track to deliver super asset quality outcomes and its material relative valuation appeal is difficult to ignore. CommBank’s ((CBA)) PE is 2x premium vs ANZ, the broker notes, as it upgrades the bank to Overweight from Neutral.
The analyst likes the Suncorp ((SUN)) Bank acquisition and notes incoming CEO Nuno Matos brings valuable experience in retail banking.
The 1Q25 update showed a 4% q/q rise in net lending assets, driven mainly by insto. Asset quality remains benign and CET1 at 11.55% was a tad lighter than expected, the broker notes.
Target price is $30.50.
This report was published on February 20, 2025.
Target price is $30.50 Current Price is $29.34 Difference: $1.16
If ANZ meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $28.17, suggesting downside of -5.0%(ex-dividends)
The company’s fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 168.00 cents and EPS of 235.20 cents.
At the last closing share price the estimated dividend yield is 5.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 234.3, implying annual growth of 7.5%.
Current consensus DPS estimate is 172.0, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 171.00 cents and EPS of 240.10 cents.
At the last closing share price the estimated dividend yield is 5.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.22.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 236.5, implying annual growth of 0.9%.
Current consensus DPS estimate is 172.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 12.5.
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
ASB AUSTAL LIMITED
Commercial Services & Supplies – Overnight Price: $4.11
Petra Capital rates ((ASB)) as Downgrade to Hold from Buy (3) –
Austal’s 1H25 EBIT was ahead of Petra Capital’s forecast due to higher non-sales revenue, and margin improved 66bps to 5%.
The broker notes this bodes well for the outlook, given the order book and tender pipeline, current productivity initiatives and pending REA outcome.
The company tweaked FY25 guidance to “not less than $80m” EBIT from $80m, and consistent with this, the broker lifted EBIT estimate by 11%.
Target price unchanged at $4.07. Rating downgraded to Hold from Buy as stock is now considered trading at fair value.
This report was published on February 24, 2025.
Target price is $4.07 Current Price is $4.11 Difference: minus $0.04 (current price is over target).
If ASB meets the Petra Capital target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.83, suggesting downside of -6.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 3.50 cents and EPS of 13.40 cents.
At the last closing share price the estimated dividend yield is 0.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 30.67.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 14.2, implying annual growth of 246.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 28.9.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 7.00 cents and EPS of 14.20 cents.
At the last closing share price the estimated dividend yield is 1.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.94.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.5, implying annual growth of 37.3%.
Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 21.1.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AUE AURUM RESOURCES LIMITED
Overnight Price: $0.27
Petra Capital rates ((AUE)) as Buy (1) –
Aurum Resources released new high-grade intercepts at its Boundiali Gold Project, pointing to resource growth above the maiden resource of 1.59Moz in December.
Petra Capital notes eight rigs are currently drilling, with two resource updates planned and a pre-feasibility study by the year end.
Buy rating and target price is 59c.
This report was published on February 24, 2025.
Target price is $0.59 Current Price is $0.27 Difference: $0.32
If AUE meets the Petra Capital target it will return approximately 119% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
AX1 ACCENT GROUP LIMITED
Apparel & Footwear – Overnight Price: $2.02
Petra Capital rates ((AX1)) as Hold (3) –
Petra Capital notes Accent Group’s 1H25 result was in line with January’s trading update, with gross margin contracting -100bps but marginally offset by a 30bps improvement in cost of doing business (CODB).
Sales in the first seven weeks of 2H improved to 2.2% growth from 1.8% in the final six weeks of 1H, and gross margin contraction moderated to -70bps, but the broker is cautious given 2H24’s sales growth was 4.1%.
The broker estimates sales growth needs to be around 3% to cover CODB inflation. The analyst believes the prospective agreement with Frasers Group is positive, but remains cautious given the broader business outlook.
Minor changes to forecasts. Hold rating remains and target price is unchanged at $2.28.
This report was published on February 24, 2025.
Target price is $2.28 Current Price is $2.02 Difference: $0.26
If AX1 meets the Petra Capital target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.51, suggesting upside of 23.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 8.60 cents and EPS of 12.20 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 16.56.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.8, implying annual growth of 30.1%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 14.7.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 9.60 cents and EPS of 13.70 cents.
At the last closing share price the estimated dividend yield is 4.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.74.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.6, implying annual growth of 13.0%.
Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 13.0.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BLX BEACON LIGHTING GROUP LIMITED
Furniture & Renovation – Overnight Price: $3.28
Jarden rates ((BLX)) as Overweight (2) –
Jarden notes Beacon Lighting’s 1H25 result was solid with gross margins flat y/y but up 40bps sequentially at 69.3%.
The key driver of the result was trade, which is growing share, but the highlight was retail, the broker assures, showing signs of improvement.
Retail was down -3% y/y, but with some green shoots emerging as R&R recovers and the easing cycle begins. The broker isn’t forecasting a turnaround until FY26, but sees scope for this to arrive earlier.
The broker cut FY25-26 EBIT forecasts by -1-2%. Target price rises to $3.3 from $3.0 on better margins and cost management. Overweight maintained.
This report was published on February 21, 2025.
Target price is $3.30 Current Price is $3.28 Difference: $0.02
If BLX meets the Jarden target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $3.70, suggesting upside of 15.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.20 cents and EPS of 13.20 cents.
At the last closing share price the estimated dividend yield is 2.50%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.85.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 13.4, implying annual growth of 0.4%.
Current consensus DPS estimate is 7.1, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 24.0.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 10.00 cents and EPS of 15.90 cents.
At the last closing share price the estimated dividend yield is 3.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.8, implying annual growth of 17.9%.
Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 20.3.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BSX BLACKSTONE MINERALS LIMITED
New Battery Elements – Overnight Price: $0.05
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
BXB BRAMBLES LIMITED
Transportation & Logistics – Overnight Price: $20.37
Goldman Sachs rates ((BXB)) as Sell (5) –
Goldman Sachs notes Brambles’ 1H25 EBIT and revenue growth were in line with its estimates, with Americas missing expectations but EMEA substantially better than expected. The highlight was cashflows due to reduced capex.
The company reiterated guidance of 4-6% revenue growth (unchanged) vs the broker’s 5% forecast, and 8-11% EBIT growth compared with the broker’s upwardly revised forecast of 9% (from 8%).
The analyst lifted FY25 free cash flow forecast to US$882m vs guidance for US$850-950m, and lowered the pooling capex/sales forecast profile. Target price rises to $18.35 from $16.30, driven by lower AUD/USD. Sell retained.
This report was published on February 20, 2025.
Target price is $18.50 Current Price is $20.37 Difference: minus $1.87 (current price is over target).
If BXB 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 $21.24, suggesting upside of 2.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 56.51 cents and EPS of 93.17 cents.
At the last closing share price the estimated dividend yield is 2.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.86.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.8, implying annual growth of N/A.
Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.5.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 61.10 cents and EPS of 102.34 cents.
At the last closing share price the estimated dividend yield is 3.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.6, implying annual growth of 12.2%.
Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 19.2.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((BXB)) as Neutral (3) –
Jarden highlights Brambles’ free cash flow story which is assisted by moderating capex and working capital. The company upgraded its FY25 pre-dividends free cash flow guidance to US$850-950m from US$750-850m.
The company’s 1H25 core net profit of US$446m was in line with consensus, and operating guidance for FY25 was maintained. Underneath the guidance, the broker anticipates a stronger skew in revenue growth to 2H25, but a tempering of EBIT growth in line with the company’s commentary.
Rating maintained at Neutral, and target price rises to $19.80 from $19.45 on updates to forex, earnings forecasts and peer valuation multiples.
This report was published on February 21, 2025.
Target price is $19.80 Current Price is $20.37 Difference: minus $0.57 (current price is over target).
If BXB meets the Jarden target it will return approximately minus 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $21.24, suggesting upside of 2.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 57.58 cents and EPS of 92.71 cents.
At the last closing share price the estimated dividend yield is 2.83%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 96.8, implying annual growth of N/A.
Current consensus DPS estimate is 63.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 21.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 61.40 cents and EPS of 102.80 cents.
At the last closing share price the estimated dividend yield is 3.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 19.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 108.6, implying annual growth of 12.2%.
Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 19.2.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CDA CODAN LIMITED
Hardware & Equipment – Overnight Price: $15.89
Canaccord Genuity rates ((CDA)) as Buy (1) –
Codan posted earnings consistent with forecasts yet Canaccord Genuity notes this was not enough to quell market concerns as the stock was sold down.
The broker believes commentary from the communications segment should be assessed in conjunction with the organic order book growth of 17% half on half.
Revenue growth and margin expansion are expected and estimates for EPS are raised by 1% for FY25 and 2% for FY26.
Canaccord Genuity also asserts the Ukraine risks are overstated as the company’s exposure is not reliant on US funding, with the unmanned systems market experiencing a large tailwind globally.
Minelab also bounced back, cycling a tough period. Buy rating retained. Target is raised to $17.90 from $16.76.
This report was published on February 24, 2025.
Target price is $17.90 Current Price is $15.89 Difference: $2.01
If CDA meets the Canaccord Genuity target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $17.63, suggesting upside of 15.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 25.90 cents and EPS of 54.80 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 29.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 53.5, implying annual growth of 19.0%.
Current consensus DPS estimate is 26.2, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 28.6.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 32.00 cents and EPS of 66.70 cents.
At the last closing share price the estimated dividend yield is 2.01%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.82.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.8, implying annual growth of 23.0%.
Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 23.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Petra Capital rates ((CDA)) as Hold (3) –
Petra Capital notes Codan’s 1H25 result was mixed with communications segment doing the heavy lifting while Minelab was a drag, resulting in weaker-than-expected cash generation. Operating cash flow was down -3% y/y.
Still, the broker lifted EPS estimates for FY25-26 by 2-3% on a 209bps increase in communications EBITDA which more than offset a -6% fall in Minelab revenue.
Hold rating and target price is $16.22.
This report was published on February 26, 2025.
Target price is $16.22 Current Price is $15.89 Difference: $0.33
If CDA meets the Petra Capital target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $17.63, suggesting upside of 15.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 28.00 cents and EPS of 55.60 cents.
At the last closing share price the estimated dividend yield is 1.76%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.58.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 53.5, implying annual growth of 19.0%.
Current consensus DPS estimate is 26.2, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 28.6.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 35.50 cents and EPS of 70.50 cents.
At the last closing share price the estimated dividend yield is 2.23%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.54.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.8, implying annual growth of 23.0%.
Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 23.2.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
CHC CHARTER HALL GROUP
REITs – Overnight Price: $17.45
Jarden rates ((CHC)) as Overweight (2) –
Charter Hall’s 1H25 result was “strong”, accompanied by a 2.5% upgrade to FY25 operating earnings to 81c versus Jarden’s forecast of 78.5c.
The highlight was a significant rise in activity across the platform with 1H gross transactions and gross equity inflows in line with full-year FY24 levels, the broker comments.
Jarden expects a recovery in activity and operating earnings growth over the next few years, and believes the property company will be able to outperform in a growing fund management space.
The analyst lifted FY25-26 operating earnings forecasts by 4.2% and 2.1% respectively. Overweight rating and target price is $18.80.
This report was published on February 20, 2025.
Target price is $18.80 Current Price is $17.45 Difference: $1.35
If CHC meets the Jarden target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $16.94, suggesting downside of -2.4%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 47.80 cents and EPS of 81.80 cents.
At the last closing share price the estimated dividend yield is 2.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 80.9, implying annual growth of N/A.
Current consensus DPS estimate is 47.9, implying a prospective dividend yield of 2.8%.
Current consensus EPS estimate suggests the PER is 21.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 50.70 cents and EPS of 87.20 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.01.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 87.0, implying annual growth of 7.5%.
Current consensus DPS estimate is 51.0, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 20.0.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
COB COBALT BLUE HOLDINGS LIMITED
Industrial Metals – Overnight Price: $0.05
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
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: $5.72
Goldman Sachs rates ((DOW)) as Resume at Neutral (3) –
Goldman Sachs has resumed coverage of Downer EDI with a Neutral rating and target price of $5.70.
Downer’s 1H result broadly met expectations and FY25 guidance of $265-280m compared with the broker’s $269m forecast.
The broker notes EBITA margin of 3.7% was up 110bps y/y but -17bps vs 2H24, which aligns with historic seasonality and project timing. But achieving the target of over 4.2% would require 2H margin of 4.7% vs 4.0% the year before.
The broker is forecasting FY25 and FY25 EBITDA margins at 4.1% and 4.5% respectively. The broker notes business turnaround is progressing well with efficiencies delivered through a continuing emphasis on contracting discipline and meeting cost-out targets.
This report was published on February 20, 2025.
Target price is $5.70 Current Price is $5.72 Difference: minus $0.02 (current price is over target).
If DOW meets the Goldman Sachs target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $5.71, suggesting upside of 4.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 21.00 cents and EPS of 36.00 cents.
At the last closing share price the estimated dividend yield is 3.67%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.89.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 37.9, implying annual growth of 267.6%.
Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 14.4.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 25.00 cents and EPS of 42.00 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.7, implying annual growth of 17.9%.
Current consensus DPS estimate is 27.1, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 12.2.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
DRE DREADNOUGHT RESOURCES LIMITED
Mining – Overnight Price: $0.02
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
FMG FORTESCUE LIMITED
Iron Ore – Overnight Price: $17.98
Goldman Sachs rates ((FMG)) as Sell (5) –
Fortescue’s 1H25 underlying EBITA was -3% below Goldman Sachs’ forecast, and interim dividend of 50c was below 54c forecast but payout of 65% was in-line.
The broker notes the targeted date for ramp-up of the Iron Ore Bridge projection to 22Mtpa by September quarter is under review, but it is already factoring in a slower ramp-up to 10Mtpa by FY27.
The analyst continues to think Fortescue is at an inflection point on capital allocation and assumes a reduction in the dividend payout ratio to 50% from FY26 onwards from the current 65%.
The broker lowered FY25 and FY26 forecasts by -2% and -4% respectively. Target price drops to $16.2 from $16.4, and Sell maintained.
This report was published on February 20, 2025.
Target price is $16.20 Current Price is $17.98 Difference: minus $1.78 (current price is over target).
If FMG meets the Goldman Sachs target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.15, suggesting upside of 6.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 96.23 cents and EPS of 160.38 cents.
At the last closing share price the estimated dividend yield is 5.35%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.21.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 170.0, implying annual growth of N/A.
Current consensus DPS estimate is 108.7, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.1.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 71.79 cents and EPS of 143.58 cents.
At the last closing share price the estimated dividend yield is 3.99%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.52.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 175.4, implying annual growth of 3.2%.
Current consensus DPS estimate is 81.0, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 9.8.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
Jarden rates ((FMG)) as Underweight (4) –
Jarden highlights Fortescue Metals’ 1H25 net profit missed its forecast by -16% as accelerated D&A charges and higher cost of sales offset the impact of record shipments and lower C1 costs for the Pilbara operations.
The relatively soft result led to a disappointing dividend of 50c vs Jarden’s 51c forecast.
The company maintained FY25 guidance at 190-200Mwmt and DSO cost at US$18.50-19.75/wmt, and narrowed capex guidance to -US$3.5-3.8bn.
Jarden retained its FY25 forecast of 198.2Mwmt and DSO cost of US$19.50/wmt, and full year capex of -U$3.8bn.
The broker remains circumspect about what can be implemented to reverse waning demand for steel and its inputs. Target price cut to $17.08 from $17.24, Underweight maintained.
This report was published on February 20, 2025.
Target price is $17.08 Current Price is $17.98 Difference: minus $0.9 (current price is over target).
If FMG meets the Jarden target it will return approximately minus 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $18.15, suggesting upside of 6.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 187.87 cents and EPS of 178.40 cents.
At the last closing share price the estimated dividend yield is 10.45%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.08.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 170.0, implying annual growth of N/A.
Current consensus DPS estimate is 108.7, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 10.1.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 122.19 cents and EPS of 133.50 cents.
At the last closing share price the estimated dividend yield is 6.80%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.47.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 175.4, implying annual growth of 3.2%.
Current consensus DPS estimate is 81.0, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 9.8.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GL1 GLOBAL LITHIUM RESOURCES LIMITED
New Battery Elements – Overnight Price: $0.20
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
GYG GUZMAN Y GOMEZ LIMITED
Food, Beverages & Tobacco – Overnight Price: $34.97
Wilsons rates ((GYG)) as Overweight (1) –
Guzman y Gomez recorded strong same-store sales growth in its Australian business in 1H25, up 9.4% y/y versus Wilsons’ 4% estimate, and leading to a 23% y/y increase in network sales.
The company re-affirmed FY25 guidance for 31 gross store openings and 103 sites in the pipeline, corporate margins at 17.8% and net profit to exceed prospectus forecast in FY25.
Same-store sales in the first seven weeks of 2H were up 12.2% in the Australian segment, but the broker is forecasting a more moderate lift in FY25 of 8.5%, up from the 4.8% estimated previously.
Wilsons also increased EBITDA forecasts by 7-11% across the forecast period. Target price rises to $42.47 from $41.14. Overweight rating.
This report was published on February 24, 2025.
Target price is $42.47 Current Price is $34.97 Difference: $7.5
If GYG meets the Wilsons target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $40.50, suggesting upside of 15.1%(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 21.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 164.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 286.2.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 33.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 103.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.5, implying annual growth of 131.7%.
Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 123.5.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
IGO IGO LIMITED
Nickel – Overnight Price: $4.18
Goldman Sachs rates ((IGO)) as Buy (1) –
IGO Ltd’s IH25 underlying net loss of -$85m wasn’t as bad as expected due to tax impacts, notes Goldman Sachs.
The company expects corporate/exploration costs to improve into 2H, but FY25 exploration guidance was unchanged at -$50-60m.
No interim dividend was declared, in line with expectations, but the broker sees capacity for a modest dividend in the 2H on Nova cashflow.
The broker increased FY25 EPS forecast by 28% and FY26 by 6% on D&A tax impacts, along with changes to production/costs at Kwinana. Target price drops to $5.3 from $5.6, and Buy retained.
This report was published on February 20, 2025.
Target price is $5.30 Current Price is $4.18 Difference: $1.12
If IGO meets the Goldman Sachs target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $5.20, suggesting upside of 25.0%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 2.00 cents and EPS of minus 10.00 cents.
At the last closing share price the estimated dividend yield is 0.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 41.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -22.8, implying annual growth of N/A.
Current consensus DPS estimate is 1.4, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 2.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 0.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 38.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.7, implying annual growth of N/A.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 22.2.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
JIN JUMBO INTERACTIVE LIMITED
Gaming – Overnight Price: $11.34
Wilsons rates ((JIN)) as Overweight (1) –
Jumbo Interactive’s 1H25 EBITDA beat Wilsons’ forecast by 4%, with the broker noting the miss vs consensus was due to high expectations.
The broker notes the company’s revised marketing strategy has already paid dividends with digital market share being recouped. The company also discussed a tilt in its M&A strategy towards for-profit B2C models from B2B businesses.
The broker raised net profit forecasts for FY25-27 by 1-2%. Target price lifts to $14.38 from $14.14. Overweight maintained.
This report was published on February 24, 2025.
Target price is $14.38 Current Price is $11.34 Difference: $3.04
If JIN meets the Wilsons target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $14.27, suggesting upside of 22.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 49.60 cents and EPS of 61.60 cents.
At the last closing share price the estimated dividend yield is 4.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.41.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 63.6, implying annual growth of -7.6%.
Current consensus DPS estimate is 48.9, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 18.3.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 56.20 cents and EPS of 73.20 cents.
At the last closing share price the estimated dividend yield is 4.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.49.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 73.4, implying annual growth of 15.4%.
Current consensus DPS estimate is 54.3, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 15.9.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
JRV JERVOIS GLOBAL LIMITED
New Battery Elements – Overnight Price: $0.01
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LAU LINDSAY AUSTRALIA LIMITED
Transportation & Logistics – Overnight Price: $0.67
Wilsons rates ((LAU)) as Overweight (1) –
Wilsons notes Lindsay Australia’s 1H25 result was weak with EBITDA missing its forecast by -6% on several headwinds including pricing pressure, higher costs and reduced demand.
The company didn’t provide full-year guidance but noted the outlook for the refrigerated transport sector remains challenging and the timeline for recovery remains uncertain.
The broker sees some near-term revenue opportunities from the acquisition of GJ Freight and expansion into Goulburn Valley.
The broker lowered group EBITDA forecasts across FY25-27 and cut the target price to $0.87 from $1.24 mainly on a reduction in target PE multiple to 8x from 10x.
Overweight rating maintained.
This report was published on February 24, 2025.
Target price is $0.87 Current Price is $0.67 Difference: $0.205
If LAU meets the Wilsons target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $0.94, suggesting upside of 36.2%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 3.90 cents and EPS of 8.20 cents.
At the last closing share price the estimated dividend yield is 5.86%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.5, implying annual growth of -14.3%.
Current consensus DPS estimate is 4.4, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 9.2.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 4.60 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 6.92%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.33.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.6, implying annual growth of 14.7%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 7.1%.
Current consensus EPS estimate suggests the PER is 8.0.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
LLL LEO LITHIUM LIMITED
New Battery Elements – Overnight Price: $0.51
Canaccord Genuity – Cessation of coverage
This report was published on February 21, 2025.
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: $8.60
Goldman Sachs rates ((MFG)) as Neutral (3) –
Magellan Financial’s 1H25 net profit beat Goldman Sachs’ forecast but revenue margins were weak at 63bps compared with expectations of 66bps.
The broker notes there was no immediate risk to flows based on management commentary.
However, there is heightened risk around medium-term institutional flows due to weak performance vs benchmarks in infrastructure and following Gerald Stack’s departure.
The broker lowered earnings by -5-6% in outer years to reflect lower margins and some flow pressure from infrastructure, partly offset by expense management and better associate performance.
Target price cut to $10.2 from $11.0, and Neutral maintained.
This report was published on February 20, 2025.
Target price is $10.20 Current Price is $8.60 Difference: $1.6
If MFG meets the Goldman Sachs target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $9.28, suggesting upside of 10.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 62.00 cents and EPS of 85.00 cents.
At the last closing share price the estimated dividend yield is 7.21%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.12.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 80.5, implying annual growth of -38.9%.
Current consensus DPS estimate is 53.7, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 10.4.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 50.00 cents and EPS of 74.00 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.2, implying annual growth of -11.6%.
Current consensus DPS estimate is 49.2, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 11.8.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
MP1 MEGAPORT LIMITED
Cloud services – Overnight Price: $11.37
Goldman Sachs rates ((MP1)) as Neutral (3) –
Megaport’s 1H25 sales were in line with Goldman Sachs’ forecast but EBITDA missed by -24%. The broker is focusing on improved customer/port growth, with a material acceleration seen in 2Q.
The broker also notes net revenue retention improved to 107% from 106% in June, which is considered a good sign in the context of declines since June 2023 when it was 115%.
Higher than expected costs drove the EBITDA miss, resulting in the analyst lowering forecasts by -12-14% for FY25-27. Revenue forecasts were revised higher on the back of a small uplift in the company’s guidance.
Target price rises to $9.5 from $8.0 on increase in multiple to 27x from 20x on a stronger outlook. Neutral maintained.
This report was published on February 21, 2025.
Target price is $9.50 Current Price is $11.37 Difference: minus $1.87 (current price is over target).
If MP1 meets the Goldman Sachs target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $11.22, suggesting upside of 1.1%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 3.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 379.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 12.2, implying annual growth of 102.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 90.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 189.50.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.6, implying annual growth of 52.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 59.6.
Market Sentiment: 0.7
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: $31.21
Jarden rates ((NWL)) as Underweight (4) –
Jarden highlights Netwealth Group’s 1H25 EBITDA margins expanded 260bps to 50.2% and the company guided to a 20% rise in costs for FY25 as it invests for continued organic growth. The broker sees this as a sensible decision, given margins over 50%.
The company remains bullish on the flow outlook but with the recent update (February 18) showing some softness, the broker sees some potential risk on flows. Near-term flow forecasts have been trimmed to $15.8bn in FY25 and $16.2bn in FY26.
The analyst lifted the forecast revenue margin and raised FY25-26 cost growth estimates following the company’s guidance.
Target price rises to $24.95 from $24.00 on earnings revisions. Underweight maintained.
This report was published on February 20, 2025.
Target price is $24.95 Current Price is $31.21 Difference: minus $6.26 (current price is over target).
If NWL meets the Jarden target it will return approximately minus 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $31.16, suggesting upside of 2.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 38.70 cents and EPS of 47.70 cents.
At the last closing share price the estimated dividend yield is 1.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 65.43.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 46.5, implying annual growth of 36.1%.
Current consensus DPS estimate is 37.3, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 65.5.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 46.00 cents and EPS of 56.60 cents.
At the last closing share price the estimated dividend yield is 1.47%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 55.14.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 56.2, implying annual growth of 20.9%.
Current consensus DPS estimate is 45.5, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 54.2.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
PLS PILBARA MINERALS LIMITED
New Battery Elements – Overnight Price: $2.00
Goldman Sachs rates ((PLS)) as Neutral (3) –
Goldman Sachs notes Pilbara Mineral 1H25 underlying EBITDA was in line with expectations and FY25 guidance was unchanged.
The broker sees the Colina acquisition as marginally accretive to NAV, and forecasts the Colina development and Pilgangoora expansion to push the company’s production to 2.1Mtpa spodumene at a group combined unit cost of US$600/t SC6.
The company expects 2H expenses of -$45-60m related to Colina, consisting of -$15m one-off transaction costs, -$20-25m exploration/studies, and -$10m on holding costs/overheads.
The analyst cut FY25/26/27 EPS forecasts by -93%/-6%/-2% respectively reflecting the result and including 2H Colina expenses guidance, along with D&A changes. Target price drops marginally to $2.05 from $2.10. Neutral maintained.
This report was published on February 20, 2025.
Target price is $2.05 Current Price is $2.00 Difference: $0.05
If PLS meets the Goldman Sachs target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.56, suggesting upside of 26.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 200.00.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -0.3, implying annual growth of N/A.
Current consensus DPS estimate is 0.2, implying a prospective dividend yield of 0.1%.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 7.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.0, implying annual growth of N/A.
Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 40.4.
Market Sentiment: 0.3
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: $4.10
Jarden rates ((QUB)) as Neutral (3) –
Qube Holdings’ 1H25 underlying net profit of $143m was ahead of Jarden’s $135m forecast, accompanied by a guidance upgrade to FY25 of at least 5% NPATA growth.
The broker notes the company’s net profit averaged around 15.9% since FY13, so the at least 5% NPATA growth FY25 guidance appears modest by historical standards. Jarden sees potential for further guidance upgrade, likely in May.
The broker believes net profit could be supported by bolt-on M&A if industry conditions remain volatile, noting its own forecast is 6.7%.
Target price of $3.85 and Neutral rating are unchanged.
This report was published on February 21, 2025.
Target price is $3.85 Current Price is $4.10 Difference: minus $0.25 (current price is over target).
If QUB meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.30, suggesting upside of 5.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 8.40 cents and EPS of 15.40 cents.
At the last closing share price the estimated dividend yield is 2.05%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.62.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.9, implying annual growth of 23.6%.
Current consensus DPS estimate is 9.5, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 25.6.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 9.80 cents and EPS of 17.60 cents.
At the last closing share price the estimated dividend yield is 2.39%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.30.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.7, implying annual growth of 11.3%.
Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 23.0.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RFF RURAL FUNDS GROUP
REITs – Overnight Price: $1.81
Wilsons rates ((RFF)) as Overweight (1) –
Rural Funds’ adjusted funds from operations (AFFO) in 1H25 beat Wilsons’ forecast by 17% on stronger farming and other net income, though the broker comments this was largely due to timing differences.
Gearing increased modestly to 38.6% from 38.6% in FY24, but the broker sees potential for a material reduction, which would be a key share price catalyst along with growth resumption.
Wilsons made minor changes to property and farming revenue, leading to minor shifts in FY25-26 AFFO forecasts.
Target price rises to $2.51 from $2.43 on a roll forward in the base year to FY26. Overweight rating.
This report was published on February 24, 2025.
Target price is $2.51 Current Price is $1.81 Difference: $0.7
If RFF meets the Wilsons target it will return approximately 39% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.
Forecast for FY25:
Wilsons forecasts a full year FY25 dividend of 11.70 cents and EPS of 11.40 cents.
At the last closing share price the estimated dividend yield is 6.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.88.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 11.70 cents and EPS of 12.10 cents.
At the last closing share price the estimated dividend yield is 6.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.96.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RIO RIO TINTO LIMITED
Bulks – Overnight Price: $119.06
Goldman Sachs rates ((RIO)) as Buy (1) –
Rio Tinto’s FY24 underlying EBITDA missed Goldman Sachs’ forecast but net profit was slightly higher. Final dividend of US$2.25 was higher than the broker’s US$1.92 forecast.
The broker once again made no change to FY25 production guidance but flagged -13Mt of lost production from the tropical cyclones in the Pilbara.
The company expects to make up for this over 2025 but the broker reduced Pilbara’s shipment forecast to 326Mt from 330Mt, and cost estimate to US$23.5/t from US$23.0/t.
The analyst cut FY25 EBITDA forecast by -4% on revised Pilbara forecasts and adjusting costs across other divisions. FY26-27 forecasts are largely unchanged. Target price cut marginally to $143.7 from $146.2, and Buy rating retained.
This report was published on February 20, 2025.
Target price is $143.70 Current Price is $119.06 Difference: $24.64
If RIO meets the Goldman Sachs target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $126.75, suggesting upside of 7.8%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 656.79 cents and EPS of 1084.47 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.98.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1075.4, implying annual growth of N/A.
Current consensus DPS estimate is 686.9, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 10.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 656.79 cents and EPS of 1099.74 cents.
At the last closing share price the estimated dividend yield is 5.52%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 1009.7, implying annual growth of -6.1%.
Current consensus DPS estimate is 607.6, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 11.6.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
RRL REGIS RESOURCES LIMITED
Gold & Silver – Overnight Price: $3.20
Goldman Sachs rates ((RRL)) as Sell (5) –
Regis Resources’ 1H25 underlying EBITDA was broadly in line with Goldman Sachs and consensus forecasts, and the company maintained FY25 guidance reiterated a month ago.
The company ended 2024 with cash & gold on hand of $529m. The broker sees the net cash position and reduced capex profile without the McPhillamys project allowing room to return to dividend payouts (next 6 months) or optionality around further underground development or M&A.
The analyst cut FY25 EPS forecast by -1% while leaving FY26 unchanged to reflect the result. Target price rises to $2.85 from $2.80, and Sell rating retained.
This report was published on February 20, 2025.
Target price is $2.85 Current Price is $3.20 Difference: minus $0.35 (current price is over target).
If RRL meets the Goldman Sachs target it will return approximately minus 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.15, suggesting downside of -1.9%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 4.00 cents and EPS of 28.80 cents.
At the last closing share price the estimated dividend yield is 1.25%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.4, implying annual growth of N/A.
Current consensus DPS estimate is 0.5, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 14.3.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 12.00 cents and EPS of 48.30 cents.
At the last closing share price the estimated dividend yield is 3.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.63.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 36.3, implying annual growth of 62.1%.
Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 8.8.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SFR SANDFIRE RESOURCES LIMITED
Copper – Overnight Price: $10.52
Jarden rates ((SFR)) as Buy (1) –
Sandfire Resources had pre-disclosed most of the unaudited key lines, so the 1H25 result was little changed vs Jarden’s forecast.
The company made no further change to FY25 guidance but the broker notes little tolerance for any further interruptions and accordingly trimmed FY25 Motheo production forecast to 58kt from 59kt copper equivalent. The broker also lowered MATSA forecast to 90kt from 92kt, and together they reduced EBITDA forecast for FY25 by -5% and FY26 by -2%.
Target price rises to $11.2 from $11.0, and Buy maintained.
This report was published on February 20, 2025.
Target price is $11.20 Current Price is $10.52 Difference: $0.68
If SFR meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $10.46, suggesting downside of -1.7%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 3.06 cents and EPS of 49.34 cents.
At the last closing share price the estimated dividend yield is 0.29%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.32.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 41.4, implying annual growth of N/A.
Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 25.7.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 9.17 cents and EPS of 86.61 cents.
At the last closing share price the estimated dividend yield is 0.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.15.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 68.9, implying annual growth of 66.4%.
Current consensus DPS estimate is 21.2, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 15.4.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SHL SONIC HEALTHCARE LIMITED
Healthcare services – Overnight Price: $28.49
Jarden rates ((SHL)) as Neutral (3) –
Jarden didn’t see anything in Sonic Healthcare’s 1H25 result as providing an upside for FY25, especially with the company indicating the insurance fee schedule reform will be a small negative. The company also flagged further delays to the benefits flowing from the enhanced revenue collection system.
Group EBITDA margin in 1H was 50bps below Jarden’s forecast, prompting the broker to downgrade the forecast for 2H.
The broker cut FY25 EPS forecast by -3.4% and FY26 by -4.2% to reflect revenue upgrade, tempering of EBITDA margin, forex tailwind and rise in capex estimate. Target price rises to $29.84 from $29.38 on earnings revisions, offset by the roll-forward of DCF.
Neutral rating maintained.
This report was published on February 26, 2025.
Target price is $29.84 Current Price is $28.49 Difference: $1.35
If SHL meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $28.50, suggesting upside of 1.3%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 106.80 cents and EPS of 108.90 cents.
At the last closing share price the estimated dividend yield is 3.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 26.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 110.7, implying annual growth of 3.1%.
Current consensus DPS estimate is 108.8, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 25.4.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 110.30 cents and EPS of 138.50 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 20.57.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 129.4, implying annual growth of 16.9%.
Current consensus DPS estimate is 110.3, implying a prospective dividend yield of 3.9%.
Current consensus EPS estimate suggests the PER is 21.8.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SLC SUPERLOOP LIMITED
Telecommunication – Overnight Price: $2.14
Wilsons rates ((SLC)) as Overweight (1) –
Wilsons highlights Superloop delivered a strong 1H result and is very well placed to achieve the majority of its “Double Down” strategy with some likely to be exceeded.
The company expects to more than double revenue to over $700m by FY26 but the broker is forecasting $632m.
The broker’s forecast assumes no M&A and implies organic 1.5-year growth of 15% which is lower than the 23% required to get to $700m.
Wilsons is forecasting an EBITDA margin 17% in FY26 which is above the company’s goal of 15%.
Underlying EBITDA forecasts for FY26-27 lifted by 3-5%. Target price rises to $2.48 from $1.91, and Overweight maintained.
This report was published on February 24, 2025.
Target price is $2.48 Current Price is $2.14 Difference: $0.34
If SLC meets the Wilsons target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $2.61, suggesting upside of 22.1%(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 2.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 82.31.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 40.4.
Forecast for FY26:
Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 5.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 41.96.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 7.0, implying annual growth of 32.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 30.6.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
SUL SUPER RETAIL GROUP LIMITED
Automobiles & Components – Overnight Price: $14.04
Goldman Sachs rates ((SUL)) as Buy (1) –
First half results from Super Retail were weaker than Goldman Sachs expected. The main disappointment was Supercheap Auto and Macpac’s weaker sales and margins. Rebel was in line and BCF delivered ahead of expectations.
Going forward, the broker believes the debate will centre on Supercheap Auto as competitive pressures are intensifying and there is a high fixed cost because of the new stores opened in the first half ahead of sales ramping up.
Target is reduced to $15.50 from $16.80. Buy rating re-iterated.
This report was published on February 20, 2025.
Target price is $15.50 Current Price is $14.04 Difference: $1.46
If SUL meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $16.18, suggesting upside of 14.9%(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 99.00 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.18.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 102.2, implying annual growth of -3.9%.
Current consensus DPS estimate is 90.6, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 13.8.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 66.00 cents and EPS of 101.00 cents.
At the last closing share price the estimated dividend yield is 4.70%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.90.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 113.1, implying annual growth of 10.7%.
Current consensus DPS estimate is 87.9, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 12.4.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
TLS TELSTRA GROUP LIMITED
Telecommunication – Overnight Price: $4.16
Goldman Sachs rates ((TLS)) as Buy (1) –
Telstra Group posted a first half result that was in line with Goldman Sachs’ estimates. FY25 EBITDA guidance was reiterated.
The main positives were a range of sequential benefits going into the second half that should more than offset the headwinds, making the broker confident the company will achieve the top half of its $8.5-8.7bn EBITDA guidance.
The key negative was Digicel underlying earnings and forecasts for this segment are lowered materially. Goldman Sachs retains a Buy rating and $4.50 target.
This report was published on February 20, 2025.
Target price is $4.50 Current Price is $4.16 Difference: $0.34
If TLS meets the Goldman Sachs target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $4.24, suggesting upside of 3.6%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 19.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 4.57%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.11.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 19.1, implying annual growth of 35.9%.
Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 21.4.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 20.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 4.81%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.80.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 21.0, implying annual growth of 9.9%.
Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 19.5.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WES WESFARMERS LIMITED
Consumer Products & Services – Overnight Price: $74.28
Goldman Sachs rates ((WES)) as Buy (1) –
The first half result from Wesfarmers was slightly better than Goldman Sachs anticipated. The broker is now more confident about the long-term growth of key assets. FY25 sales growth of 3.3% is expected before accelerating to 5% in FY26.
Factoring in updated details, the broker pushes out forecasts for hydroxide to FY27, largely because of the nine-month qualification period from first production in mid 2025. Target is raised to $80.40 from $78.70. Buy rating retained.
This report was published on February 20, 2025.
Target price is $80.40 Current Price is $74.28 Difference: $6.12
If WES meets the Goldman Sachs target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $70.29, suggesting downside of -5.5%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 200.00 cents and EPS of 231.00 cents.
At the last closing share price the estimated dividend yield is 2.69%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.16.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 237.1, implying annual growth of 5.1%.
Current consensus DPS estimate is 201.4, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 31.4.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 227.00 cents and EPS of 259.00 cents.
At the last closing share price the estimated dividend yield is 3.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 28.68.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 264.2, implying annual growth of 11.4%.
Current consensus DPS estimate is 227.4, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 28.2.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources
WHC WHITEHAVEN COAL LIMITED
Coal – Overnight Price: $5.83
Goldman Sachs rates ((WHC)) as Buy (1) –
First half results from Whitehaven Coal were ahead of Goldman Sachs, largely because of a strong beat on costs. The interim dividend was broadly in line with forecasts and reflected a 22% payout.
The company has announced a counter-cyclical $75m buyback and the capital allocation framework will be reviewed at the end of FY25.
The broker assumes medium-term production and cost targets are met at Daunia while the recent turnaround of Blackwater shows signs of further production upside.
Amid an attractive valuation and improving cash flow, the broker continues to rate the stock Buy with the target lifted to $9.20 from $8.90.
This report was published on February 20, 2025.
Target price is $9.20 Current Price is $5.83 Difference: $3.37
If WHC meets the Goldman Sachs target it will return approximately 58% (excluding dividends, fees and charges).
Current consensus price target is $8.82, suggesting upside of 52.8%(ex-dividends)
The company’s fiscal year ends in June.
Forecast for FY25:
Goldman Sachs forecasts a full year FY25 dividend of 26.00 cents and EPS of 87.00 cents.
At the last closing share price the estimated dividend yield is 4.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.70.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.6, implying annual growth of 0.3%.
Current consensus DPS estimate is 16.9, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 12.9.
Forecast for FY26:
Goldman Sachs forecasts a full year FY26 dividend of 47.00 cents and EPS of 125.00 cents.
At the last closing share price the estimated dividend yield is 8.06%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 4.66.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 70.0, implying annual growth of 57.0%.
Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 8.2.
Market Sentiment: 1.0
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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