Australian Broker Call *Extra* Edition – May 08, 2025

This story features LIFE360 INC, and other companies. For more info SHARE ANALYSIS: 360

The company is included in ASX100, ASX200, ASX300, ALL-ORDS and ALL-TECH

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)

360   AMA   CSC   CTD (2)   DRR   DUG   DXB   EDV   EOS   GOR   HLI   ILU   IMM   KCN   LGP   LLL   LOT   MAC   MAP   NXT   OBM   OPT   PNI   RWC (2)   SDR  

360    LIFE360 INC

Software & Services – Overnight Price: $23.24

Goldman Sachs rates ((360)) as Buy (1) –

Goldman Sachs previews Life360’s 1Q25 result due on May 13 with subscriber additions expected to be strong and the analyst forecasting 63k in the US and 35k additions internationally, supported by dual-tier plans.

Indirect revenue via advertising and data partnerships remains a key focus, with ramp-up expected across FY25.

Hardware growth is tied to upcoming product launches, though retail softness in 4Q24 and new tariffs add uncertainty to the go-to-market strategy, the broker notes.

Life360 reiterated FY25 guidance of US$450480m revenue and US$6575m adjusted earnings (EBITDA).  Buy rating retained with target price of $27.00.

This report was published on May 2, 2025.

Target price is $27.00 Current Price is $23.24 Difference: $3.76
If 360 meets the Goldman Sachs target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $27.21, suggesting upside of 17.1%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 43.05 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 53.98.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 40.1.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 64.58 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 35.99.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 55.4, implying annual growth of -4.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 41.9.

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

AMA    AMA GROUP LIMITED

Automobiles & Components – Overnight Price: $0.08

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

AMA Group delivered a strong March quarter, according to Canaccord Genuity, with normalised earnings (EBITDA) rising 79% on the previous year due to a turnaround in AMA Collision and continued gains at Capital Smart.

The broker notes group revenue rose 10% on a year earlier with management’s FY25 guidance for earnings (EBITDA) of $5862m represenings a 13% upgrade to Canaccord’s prior forecast.

The analyst lifts FY25 and FY26 earnings (EBITDA) forecasts by 15% and 11%, respectively. Buy rating maintained, target price raised to 13c from 10c.

This report was published on May 2, 2025.

Target price is $0.13 Current Price is $0.08 Difference: $0.052
If AMA meets the Canaccord Genuity target it will return approximately 67% (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 26.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.00.

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

CSC    CAPSTONE COPPER CORP.

Copper – Overnight Price: $7.82

Moelis rates ((CSC)) as Buy (1) –

Capstone Copper delivered March quarter production of 53.8kt copper at C1 costs of US$2.59/lb, in line with forecasts by Moelis.

Earnings (EBITDA) of US$192.1m beat the broker’s expectations, though profit missed due to higher-than-expected depreciation and finance costs following the transition to commercial production at Mantoverde.

Operating cash flow was US$121.8m, below the analyst’s forecast due to timing and higher royalties.

Moelis sees the business entering a “pay-off” period, with growth in earnings and rapid deleveraging expected following heavy investment in Chilean assets.

The target price is lowered to $12.00 from $12.50. The broker maintains a Buy rating, citing attractive valuation, significant production growth, and strong copper exposure despite recent share price weakness.

This report was published on May 4, 2025.

Target price is $12.00 Current Price is $7.82 Difference: $4.18
If CSC meets the Moelis target it will return approximately 53% (excluding dividends, fees and charges).
Current consensus price target is $11.37, suggesting upside of 45.4%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 31.83 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 24.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.3, implying annual growth of 27.2%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 36.7.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 46.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.4, implying annual growth of 207.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 12.0.

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

CTD    CORPORATE TRAVEL MANAGEMENT LIMITED

Travel, Leisure & Tourism – Overnight Price: $11.32

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

Corporate Travel Management flagged weaker activity in the US and Asia driven by uncertainty around tariff outcomes, with a sharper-than-expected earnings (EBITDA) impact from high operating leverage and increased costs tied to new client wins, Canaccord Genuity observes.

Managements lowers FY25 revenue guidance by -4% with a -$30m drop in earnings (EBITDA) guidance. The broker attributes current challenges to cyclical, not structural, factors.

New client wins remain strong and retention is above 97%, with management expected to revise FY26 targets lower.

Canaccord Genuity cuts FY25 earnings (EBITDA) by -7.5% to $181.3m and EPS by -10% with similar downgrades to FY26 and FY27 forecasts.

Buy rating retained with target price down to $14.85 from $18.80.

This report was published on May 2, 2025.

Target price is $14.85 Current Price is $11.32 Difference: $3.53
If CTD meets the Canaccord Genuity target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $14.61, suggesting upside of 29.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 34.00 cents and EPS of 67.00 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 16.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.9, implying annual growth of 1.8%.
Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 49.50 cents and EPS of 81.20 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 13.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 74.9, implying annual growth of 27.2%.
Current consensus DPS estimate is 30.8, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.1.

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

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

Jarden lowers its FY25 EBITDA forecast for Corporate Travel Management by around -15% due to softer-than-expected trading conditions, particularly in A&NZ, Asia, and the US.

FY25 revenue is now projected to be around -4% below previous guidance, while the FY26 revenue growth estimate is cut to 5.4% from 10%, and the earnings margin reduced to 28% from 30%. 

Despite these downgrades, Jarden highlights a solid operational performance with $1.6bn in new client wins versus a $1bn target, 97% client retention, and 80-90% cash conversion.

The broker considers the long-term outlook is intact, with the company continuing to take market share and retains an Overweight rating. The target price is lowered to $16.00 from $17.00.

This report was published on May 2, 2025.

Target price is $16.00 Current Price is $11.32 Difference: $4.68
If CTD meets the Jarden target it will return approximately 41% (excluding dividends, fees and charges).
Current consensus price target is $14.61, suggesting upside of 29.0%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of 60.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 58.9, implying annual growth of 1.8%.
Current consensus DPS estimate is 26.0, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 19.2.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 83.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 74.9, implying annual growth of 27.2%.
Current consensus DPS estimate is 30.8, implying a prospective dividend yield of 2.7%.
Current consensus EPS estimate suggests the PER is 15.1.

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

DRR    DETERRA ROYALTIES LIMITED

Iron Ore – Overnight Price: $3.64

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

Deterra Royalties reported March quarter royalty revenue of $61.9m, in line with Canaccord Genuity’s expectations, and 90% derived from the Mining Area C iron ore royalty.

Canaccord incorporates higher near-term iron ore forecasts and lower lithium chemical pricing in its model, noting the latter has limited impact on short-term earnings.

Managements notes funding secured by Lithium Americas for the Thacker Pass project which reduces financing risk for Deterra’s Trident royalty, and represents an estimated 10% of the group’s net asset value, the broker explains.

Buy rating retained with a $4.90 target price unchanged.

This report was published on May 1, 2025.

Target price is $4.90 Current Price is $3.64 Difference: $1.26
If DRR meets the Canaccord Genuity target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $4.16, suggesting upside of 14.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 16.00 cents and EPS of 27.00 cents.
At the last closing share price the estimated dividend yield is 4.40%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.7, implying annual growth of 4.8%.
Current consensus DPS estimate is 24.1, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 12.00 cents and EPS of 25.00 cents.
At the last closing share price the estimated dividend yield is 3.30%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 30.7, implying annual growth of N/A.
Current consensus DPS estimate is 23.0, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 11.9.

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

DUG    DUG TECHNOLOGY LIMITED

Cloud services – Overnight Price: $1.16

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

Dug Technology reported a stronger third quarter, with earnings (EBITDA) of US$5.3m at a 32% margin and Services awards reaching US$22.7m, the highest level since 1Q24, Canaccord Genuity highlights.

The company’s order book rose 30% to US$42.7m, suggesting robust momentum into Q4. Software revenue increased 23% over the quarter, but HPC-as-a-Service declined -32%, the broker notes.

Total revenue of US$16.5m was slightly below expectations; cost control kept margins healthy.

Commentary highlights management remains optimistic on new products, including Elastic MP-FWI Imaging, Dug Cool, and Dug Nomad.

Canaccord Genuity lowers FY25/FY26 earnings (EBITDA) by -9% and -5%, respectively. Buy rating retained; target price lowered to $2.40 from $2.60.

This report was published on May 2, 2025.

Target price is $2.40 Current Price is $1.16 Difference: $1.245
If DUG meets the Canaccord Genuity target it will return approximately 108% (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 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 28.88.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 115.50.

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

DXB    DIMERIX LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.69

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

Dimerix has licensed US rights for DMX-200 to Amicus Therapeutics with a deal value of US$590m compared to Petra Capital’s estimate of US$370m. The upfront payment of US$30m also exceeded the broker’s US$20m estimate.

DMX-200 is used for treating Focal Segmental Glomerulosclerosis, a rare and serious kidney disease.

This outcome significantly de-risks commercialisation, suggests the analyst, and also affirms strong industry interest. Additionally, Dimerix’s balance sheet is strengthened.

Amicus views DMX-200 as a potential blockbuster and its lead late-stage pipeline asset, with future development expected beyond the initial FSGS indication. 

Including this agreement, Dimerix now stands to receive circa $1.4bn plus royalties across four licensing deals, observes Petra Capital.

Petra forecasts an uplift in FY26 profit of 68% and raises its target price to $1.58 from $1.28. Buy retained.

This report was published on May 5, 2025.

Target price is $1.58 Current Price is $0.69 Difference: $0.885
If DXB meets the Petra Capital target it will return approximately 127% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY25:

Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 3.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.31.

Forecast for FY26:

Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 2.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.74.

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: $4.11

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

Endeavour Group reported March quarter revenue of $2.84bn, down -1.7% on a year earlier and broadly in line with Goldman Sachs’ estimates.

Retail sales declined -3.1% year-on-year but showed sequential improvement across the quarter, while Hotels revenue rose 5.1% with resilient gaming and food & beverage trends.

The broker notes retail margins remain under pressure from increased promotions and pricing competition, and management does not expect gross margin expansion in 2H25.

Goldman trims FY2527 forecasts slightly, reflecting modest Retail downgrades offset by improved Hotels performance.

The rating is Neutral, and the $4.50 target price is maintained.

This report was published on May 5, 2025.

Target price is $4.50 Current Price is $4.11 Difference: $0.39
If EDV meets the Goldman Sachs target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $4.52, suggesting upside of 9.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 18.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 4.38%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.7, implying annual growth of -13.6%.
Current consensus DPS estimate is 18.6, implying a prospective dividend yield of 4.5%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 20.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 4.87%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.2, implying annual growth of 10.1%.
Current consensus DPS estimate is 20.4, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 15.1.

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

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Hardware & Equipment – Overnight Price: $1.15

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

Canaccord Genuity retains a Buy rating and $1.90 target price for Electro Optic Systems, with estimates unchanged.

The company hosted an investor day highlighting progress in remote weapon systems (RWS) and high energy laser weapon (HELW) technology, with an expanded RWS portfolio including the ITAR-free R500, R150, and heavy-calibre R800 models.

The broker notes advanced sales negotiations totaling around $450m, including HELW contracts worth $50100m each and a $181m conditional deal with Ukraine.

Canaccord Genuity highlights 1Q 2025 cash receipts fell to $23m, down -56% on a year earlier, resulting in circa -$35m free cash outflow. 

Net cash rose to $103m due to the EM Solutions divestment at $152m and offset by debt repayment of -$61m.

This report was published on May 2, 2025.

Target price is $1.90 Current Price is $1.15 Difference: $0.75
If EOS meets the Canaccord Genuity target it will return approximately 65% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 17.97 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 6.40.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 10.89 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 10.56.

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

GOR    GOLD ROAD RESOURCES LIMITED

Gold & Silver – Overnight Price: $3.31

Goldman Sachs rates ((GOR)) as No Rating (-1) –

Gold Road Resources has entered into a binding Scheme Implementation Deed with Gold Fields, under which shareholders will receive a fixed cash offer of $2.52/share plus variable consideration of $0.88/share based on Gold Road’s stake in De Grey (now Northern Star), totalling $3.40/share, notes Goldman Sachs.

This represents a 12% uplift from the initial indicative offer. The implied valuation equates to US$3,020/oz or 4.5x 2025 earnings (EBITDA), according to the broker, which considers the bid best and final’ absent a superior proposal.

Gold Road plans to declare a fully franked special dividend arpund $0.353/share, subject to franking capacity.

The board unanimously recommends the scheme, and 7.5% of shareholders have already committed to vote in favour. Implementation is expected after a shareholder meeting in September.

This report was published on May 5, 2025.

Current Price is $3.31. Target price not assessed.
Current consensus price target is $3.34, suggesting upside of 0.8%(ex-dividends)

Forecast for FY25:

Current consensus EPS estimate is 26.8, implying annual growth of 103.3%.
Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 12.4.

Forecast for FY26:

Current consensus EPS estimate is 29.8, implying annual growth of 11.2%.
Current consensus DPS estimate is 5.4, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 11.1.

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

HLI    HELIA GROUP LIMITED

Insurance – Overnight Price: $4.99

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

Goldman Sachs notes Helia Group’s 1Q25 update suggests better-than-expected earnings momentum, with lower incurred claims, reduced reinsurance and insurance service expenses supporting upgrades to FY2527 EPS forecasts.

The broker highlights total incurred claims remain a net positive contributor due to favourable prior period liability adjustments, though the analyst warns these are not sustainable long term.

Gross written premium remains pressured by a lower Home Guarantee Scheme contribution and rising lender self-insurance.

FY25/26/27 EPS forecasts lifted by 11.9%/4.2%/4.5%,respectively. The target price has shifted to $3.93 from $3.70.

Neutral rating retained, with Goldman Sachs citing limited growth in new business following the loss of the CommBank ((CBA)) contract and broader structural challenges in the LMI market.

This report was published on May 2, 2025.

Target price is $3.93 Current Price is $4.99 Difference: minus $1.06 (current price is over target).
If HLI meets the Goldman Sachs target it will return approximately minus 21% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 52.00 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 10.42%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.18.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 50.00 cents and EPS of 56.00 cents.
At the last closing share price the estimated dividend yield is 10.02%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.91.

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

ILU    ILUKA RESOURCES LIMITED

Mineral Sands – Overnight Price: $4.11

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

Goldman Sachs highlights Iluka Resources’ focus on mine life extensions and rare earth strategy following its first investor day since 2017.

Production guidance for 2025 is unchanged, but 202628 forecasts have been updated with lower zircon and higher rutile and synthetic rutile volumes, the broker notes.

Goldman Sachs observes SR1 kiln restart is deferred to June quarter 2026, while extensions at Jacinth-Ambrosia via the Typhoon and Sonoran deposits could add five years to mine life.

Balranald is on track for commissioning in 2H25 and Wimmera’s feasibility study remains due late 2026. The Eneabba rare earth refinery has incurred -$850m in committed spend with first production expected 1H27, management explained.

Iluka is seeking bilateral offtake deals with floor/ceiling pricing and engaging third-party feed providers.

Goldman revises FY2527 earnings (EBITDA) forecasts by 5% in FY25 and down -11% in FY26. Buy rated with target price down to $6.20 from $6.50.

This report was published on May 5, 2025.

Target price is $6.20 Current Price is $4.11 Difference: $2.09
If ILU meets the Goldman Sachs target it will return approximately 51% (excluding dividends, fees and charges).
Current consensus price target is $5.12, suggesting upside of 24.6%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 5.00 cents and EPS of 18.00 cents.
At the last closing share price the estimated dividend yield is 1.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.5, implying annual growth of -27.0%.
Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 10.4.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 40.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 9.73%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 45.8, implying annual growth of 15.9%.
Current consensus DPS estimate is 9.7, implying a prospective dividend yield of 2.4%.
Current consensus EPS estimate suggests the PER is 9.0.

Market Sentiment: 0.4
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: $0.31

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

Canaccord Genuity remains constructive on Immutep following recent setbacks for competing checkpoint inhibitors in head and neck squamous cell carcinoma (HNSCC), which highlight the unmet need in CPS1 patients.

The broker sees potential for Immutep’s lead asset, efti, to fill this gap given its compelling safety profile and promising interim data in the TACTI-003 study.

Upcoming data on efti in this subgroup are expected to provide clarity on regulatory pathways and possible partnering interest.

Canaccord Genuity’s forecasts are unchanged. Buy rating maintained with a $0.95 price target.

This report was published on May 2, 2025.

Target price is $0.95 Current Price is $0.31 Difference: $0.64
If IMM meets the Canaccord Genuity target it will return approximately 206% (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 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.75.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 4.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.75.

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

KCN    KINGSGATE CONSOLIDATED LIMITED

Gold & Silver – Overnight Price: $1.98

Canaccord Genuity rates ((KCN)) as Speculative Buy (1) –

Canaccord Genuity notes Kingsgate Consolidated reported March quarter production of 20.6koz at all-in-sustaining-costs of US$1,839/oz, below the broker’s forecast of 23koz but a 15% improvement on the previous quarter.

Cash and bullion rose 33% to $60m, with free cash flow of $13m and a slight debt reduction.

Management’s FY25 guidance of 8090koz at US$1,6501,800/oz is maintained, though the analyst’s revised forecast sits just below at 77koz and US$1,921/oz due to higher royalty charges linked to gold prices.

At Nueva Esperanza, the resource update has been delayed as the company revises cost inputs.

Canaccord views any sale of the asset as a potential windfall, noting no value is currently attributed in its model.

The broker lifts FY25 earnings (EBITDA) to $110.9m from $100m, and net income to $61.3m from $54.6m.

The rating is Speculative Buy with $4.00 target price unchanged.

This report was published on May 2, 2025.

Target price is $4.00 Current Price is $1.98 Difference: $2.025
If KCN meets the Canaccord Genuity target it will return approximately 103% (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 24.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.23.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 51.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.87.

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

LGP    LITTLE GREEN PHARMA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.12

Canaccord Genuity rates ((LGP)) as Speculative Buy (1) –

Canaccord Genuity lowers its price target for Little Green Pharma to $0.18 from $0.21 while retaining a Speculative Buy rating.

The analyst explains March quarter result met expectations, though gross profit margins declined for a third consecutive quarter to 33%, leading to trimmed earnings (EBITDA) forecasts to $0.6m from $0.9m, and FY26 to $3.9m from $4.5m.

The broker’s net income estimated for FY26 is reduced to $0.8m from $1.5m.

Revenue forecast for FY25 is maintained at $36.6m, up 40% year-on-year, with March revenue at a stronger-than-expected $4.0m, indicating a favourable run rate for FY26.

The broker flags the need for careful working capital management given a cash balance of $2.4m. European growth remains a key driver, with March quarter sales in that region rising 50%. 

This report was published on May 1, 2025.

Target price is $0.18 Current Price is $0.12 Difference: $0.065
If LGP meets the Canaccord Genuity target it will return approximately 57% (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 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 12.78.

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 38.33.

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 rates ((LLL)) as Speculative Buy (1) –

Canaccord Genuity highlights the Goulamina lithium project as a top-tier asset, noting the 50:50 JV with Ganfeng Lithium and a total resource of 211Mt at 1.37% Li2O.

Stage 1 production is expected to begin in 1H25 at 506ktpa of spodumene concentrate. However, the suspension of Leo Lithium’s mining licence by the Malian government introduces material risk, with no visibility yet on resolution.

The stock remains a Speculative Buy with a $1.90 target price. No changes have been made to financial forecasts, with no cash flow assumed until FY26.

This report was published on May 1, 2025.

Target price is $1.90 Current Price is $0.51 Difference: $1.395
If LLL meets the Canaccord Genuity target it will return approximately 276% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 0.06 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 841.67.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of 0.35 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 144.29.

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

LOT    LOTUS RESOURCES LIMITED

Uranium – Overnight Price: $0.20

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

Canaccord Genuity notes significant progress at the Kayelekera Uranium Project in Malawi, with mechanical and electrical works over 80% complete, key contractor appointments made, and major refurbishments underway.

First production remains targeted for 3Q 2025 with the broker expecting 4Q. The company ended the quarter with US$112.7m in cash, with -US$8.8m spent in the March quarter and US$36.5m remaining to first production.

AISC is forecast at US$64.1/lb during ramp-up and Canaccord highlights long-term off-take contracts at around US$80/lb, covering 40% of output from 202629.

Forecasts are unchanged apart from a more conservative resource valuation driving the lower target.

Canaccord Genuity maintains a Speculative Buy rating and lowers the price target to 31c from 34c.

This report was published on May 1, 2025.

Target price is $0.31 Current Price is $0.20 Difference: $0.115
If LOT meets the Canaccord Genuity target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $0.33, suggesting upside of 66.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 39.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 39.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -0.6, 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.

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

MAC    MAC COPPER LIMITED

Copper – Overnight Price: $14.36

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

MAC Copper’s March quarter copper production fell -24% on the previous quarter to 8.6kt, missing estimates due to limited access to high-grade stopes.

Unit costs rose to US$1.91/lb but were below Canaccord Genuity’s forecast of US$2.14/lb.

Management’s full-year production guidance of 4348kt remains unchanged as development of the Merrin Mine continues, with first ore expected in December 2025.

The broker highlights a -30% reduction in debt costs following refinancing, contributing to a forecast -US$14m in annual savings.

The analyst’s FY25 earnings (EBITDA) forecast is lowered to US$193.6m from US$200.8m. Canaccord Genuity maintains a Buy rating with a $20.50 target price.

This report was published on May 1, 2025.

Target price is $20.50 Current Price is $14.36 Difference: $6.14
If MAC meets the Canaccord Genuity target it will return approximately 43% (excluding dividends, fees and charges).
The company’s fiscal year ends in December.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 0.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1595.56.

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 4786.67.

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

MAP    MICROBA LIFE SCIENCES LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.17

Canaccord Genuity rates ((MAP)) as Speculative Buy (1) –

Microba Life Sciences’ third quarter revenue was $3.4m, bringing FY25 year-to-date revenue to $11.5m, and placing the company on track to meet full-year guidance of $15.2516.25m, though slightly below consensus of $16.7m, Canaccord Genuity explains.

Commentary highlights operating cash outflow improved to -$3.8m, with a cash balance of $17.3m considered sufficient for near-term commercial operations.

MetaXplore test sales in Australia grew 201% year-on-year, with test volumes and referring clinicians rising, while MetaPanel underperformed.

No changes to the analyst’s financial forecasts. The Speculative Buy rating and target price of 44c are retained.

This report was published on April 30, 2025.

Target price is $0.44 Current Price is $0.17 Difference: $0.275
If MAP meets the Canaccord Genuity target it will return approximately 167% (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

NXT    NEXTDC LIMITED

Cloud services – Overnight Price: $13.57

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

NextDC delivered a strong beat against Wilsons’s forecasts with contracted utilisation rising 30% to 228MW, up 52MWs (30%) since December and a strong beat to the broker’s 2H estimate of 194MW.

Most of the wins were in Victoria, which now has contracted utilisation of 114MW, far exceeding its current built capacity, explains the broker. 

The pro-forma order book grew 45% to 127MW, indicating to the analysts strong forward revenue visibility as these contracts begin billing from FY27, with full contribution expected by FY28.

Guidance for FY25 net revenue and underlying EBITDA is unchanged, but capex has been lifted by -$100m to -$1.4-1.6bn to accelerate capacity builds.

Wilsons maintains an Overweight rating and an $18.10 target price, citing the contract wins as a positive surprise and a driver of long-term earnings visibility.

This report was published on May 6, 2025.

Target price is $18.10 Current Price is $13.57 Difference: $4.53
If NXT meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $19.50, suggesting upside of 43.7%(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 minus 15.90 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 85.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.7, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 20.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 67.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -16.5, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

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

OBM    ORA BANDA MINING LIMITED

Gold & Silver – Overnight Price: $1.11

Moelis rates ((OBM)) as Hold (3) –

Ora Banda Mining’s March quarter production of 23.2koz came in below Moelis’ 25.8koz forecast, due to planned mill downtime. FY25 production guidance was narrowed to 100-105koz.

Costs (AISC) rose to $2,470/oz, impacted by share-based payments and higher mining costs, explains the broker, prompting a downgrade of FY25 cost guidance to $2,350-2,500/oz.

Despite the higher costs, the company delivered a $23m cash build, aided by strong gold prices and reduced exploration spend, notes Moelis.

The target rises to $1.03 from $1.00. The broker retains a Hold rating, noting the stock appears fairly valued, while supported by improving cash flows and longer-term growth potential.

This report was published on May 4, 2025.

Target price is $1.03 Current Price is $1.11 Difference: minus $0.08 (current price is over target).
If OBM meets the Moelis target it will return approximately minus 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 0.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 555.00.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 6.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.20.

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

OPT    OPTHEA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.60

Wilsons – Cessation of coverage

This report was published on May 7, 2025.

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

PNI    PINNACLE INVESTMENT MANAGEMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $19.19

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

Pinnacle Investment Management’s Q3 update was broadly in line with Wilsons’ expectations.

The broker notes only $6bn is required in Q4 (market and flows) to hit the broker’s FY25 funds under management (FUM) forecast.

The broker observes the National Pension Service of Korea is taking a 4.17% stake in Metrics, which it estimates will reduce Pinnacle Investment Management’s share of profit from Metrics by -1.46%.

Target $23.50. Overweight rating.

This report was published on May 7, 2025.

Target price is $23.50 Current Price is $19.19 Difference: $4.31
If PNI meets the Wilsons target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $23.56, suggesting upside of 22.8%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 57.00 cents and EPS of 55.50 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 34.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.8, implying annual growth of 41.5%.
Current consensus DPS estimate is 57.0, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 29.6.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 59.00 cents and EPS of 59.90 cents.
At the last closing share price the estimated dividend yield is 3.07%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.1, implying annual growth of 12.8%.
Current consensus DPS estimate is 64.0, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 26.3.

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

RWC    RELIANCE WORLDWIDE CORP. LIMITED

Building Products & Services – Overnight Price: $4.15

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

Goldman Sachs notes weaker FY25 guidance ffrom Reliance Worldwide due to softer US demand tied to economic uncertainty and tariff concerns, despite 60% of the Americas business being in non-discretionary repair work.

Americas sales are expected to decline -2% in FY25 versus previous guidance of growth of 2%, driving a -4% downgrade to forecast group earnings (EBITDA) by the analyst.

Goldman Sachs cuts FY26 earnings (EBITDA) estimate by -16%, incorporating an assumed -$30m direct tariff impact and -$20m from reduced volumes.

Management highlighted mitigation plans include shifting sourcing from China (cutting China-sourced cost of goods sold to $35m from $80m) and price increases in the Americas.

The 12-month target price falls to $5.20 from $6.00. Buy rating is retained.

This report was published on May 5, 2025.

Target price is $5.20 Current Price is $4.15 Difference: $1.05
If RWC meets the Goldman Sachs target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $4.82, suggesting upside of 16.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 9.23 cents and EPS of 27.68 cents.
At the last closing share price the estimated dividend yield is 2.22%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.1, implying annual growth of N/A.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 14.3.

Forecast for FY26:

Goldman Sachs forecasts a full year FY26 dividend of 6.15 cents and EPS of 26.14 cents.
At the last closing share price the estimated dividend yield is 1.48%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.1, implying annual growth of -3.4%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 14.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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

Jarden warns of significant tariff exposure for Reliance Worldwide, estimating an unmitigated impact of circa -US$150m, or -49% of consensus FY26 earnings (EBITDA).

Management plans to counter this via around 12% price increases, supplier renegotiations, and cost-outs, though these measures are unlikely to fully offset the impact in the short-term.

Jarden expects substantial near-term earnings downgrades, cutting its FY26 EPS by -26% and lowering the target price to $4.70 from $5.60.

While premium products like SharkBite and PEX pipe remain insulated due to local manufacturing, broader price hikes may lead to demand destruction and margin pressure, explain the analysts.

Despite these risks, Jarden maintains an Overweight rating, citing a strong balance sheet, solid inventory levels, and proven ability to navigate external shocks. 

This report was published on May 2, 2025.

Target price is $4.70 Current Price is $4.15 Difference: $0.55
If RWC meets the Jarden target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.82, suggesting upside of 16.1%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 7.69 cents and EPS of 29.83 cents.
At the last closing share price the estimated dividend yield is 1.85%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 29.1, implying annual growth of N/A.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 14.3.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 9.84 cents and EPS of 23.52 cents.
At the last closing share price the estimated dividend yield is 2.37%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.1, implying annual growth of -3.4%.
Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 14.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SDR    SITEMINDER LIMITED

Travel, Leisure & Tourism – Overnight Price: $3.97

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

Wilsons remains Overweight on SiteMinder, despite trimming revenue forecasts by between -1-3% due to minor US travel headwinds and cautious macro assumptions.

Smart Products, particularly Channels Plus and Smart Distribution, continue to gain traction, with Channels Plus now integrated across over 3,000 hotels, observes the broker. The ramp-up of Dynamic Revenue Plus is expected to contribute meaningfully from 2H FY26.

While guidance for 30% constant currency growth remains, Wilsons notes this target depends on accelerated uptake of new products.

Smart Distribution revenue is tracking towards the lower end of expectations, impacted slightly by customer churn and weaker inbound US travel, explain the analysts.

The broker sees 2H FY26 as a key inflection point; if Channels Plus and Dynamic Revenue Plus don’t ramp materially the 30% growth target may remain aspirational.

Wilsons lowers the price target to $6.44 from $7.22, but retains an Overweight rating due to product potential and improving operating leverage.

This report was published on May 6, 2025.

Target price is $6.44 Current Price is $3.97 Difference: $2.47
If SDR meets the Wilsons target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $6.68, suggesting upside of 68.3%(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 minus 4.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 86.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -4.9, 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:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 264.67.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.0, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 397.0.

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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