Australian Broker Call *Extra* Edition – Jul 17, 2025

This story features BEACH ENERGY LIMITED, and other companies.
For more info SHARE ANALYSIS: BPT
The company is included in ASX200, ASX300 and ALL-ORDS

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

By Rudi Filapek-Vandyck

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)

BPT   CAR   EVN   GGP   HSN   HUB (3)   JHX   KAR   NEC   ORG   STO   TYR   WDS   WTC  

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.36

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

Beach Energy is due to report its 4Q25 update on July 31, and Jarden forecasts production of 4.6mmboe, down -1% on the previous quarter, with reduced output from the Cooper Basin offset by higher Otway Gas Plant sales revenue of $461m due to an additional swap LNG cargo.

The analyst will be looking for an update on Waitsia start-up timing, with first gas sales currently flagged for August. Jarden lowers EPS forecasts by -4.7% for FY25 and -4% for FY26.

Rating remains Underweight with a $1.22 target.

This report was published on July 14, 2025.

Target price is $1.22 Current Price is $1.36 Difference: minus $0.14 (current price is over target).
If BPT 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 $1.36, suggesting upside of 0.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 8.00 cents and EPS of 20.30 cents.
At the last closing share price the estimated dividend yield is 5.88%.
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 20.8, implying annual growth of N/A.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 6.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 6.00 cents and EPS of 23.00 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 5.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.8, implying annual growth of N/A.
Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 4.8%.
Current consensus EPS estimate suggests the PER is 6.5.

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

CAR    CAR GROUP LIMITED

Automobiles & Components – Overnight Price: $37.44

Jarden rates ((CAR)) as Neutral (3) –

Jarden’s expectation for CAR Group’s FY25 group revenue matches consensus, but its net profit forecast of $373m is -1.3% lower.

The broker sees scope for surprise in several areas, including the impact of a stronger AUD/USD exchange rate, more than expected cyclical softness in selected segments, FY25 operating cost growth etc.

The analyst updated forecasts for forex assumptions, leading to a -1% downgrade to FY26 EPS forecast. Target price rises to $34.50 from $33.00 on a reduction in risk-free rate.

Neutral retained.

This report was published on July 11, 2025.

Target price is $34.50 Current Price is $37.44 Difference: minus $2.94 (current price is over target).
If CAR meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $41.40, suggesting upside of 10.6%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 80.00 cents and EPS of 98.70 cents.
At the last closing share price the estimated dividend yield is 2.14%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 37.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 97.2, implying annual growth of 46.6%.
Current consensus DPS estimate is 82.1, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 38.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 91.10 cents and EPS of 113.70 cents.
At the last closing share price the estimated dividend yield is 2.43%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 32.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.7, implying annual growth of 13.9%.
Current consensus DPS estimate is 92.6, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 33.8.

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

EVN    EVOLUTION MINING LIMITED

Gold & Silver – Overnight Price: $7.52

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

Jarden continues to like the outlook for the gold price under the current US administration and lifts the FY26 forecast to US$3,050 from US$2,800 per ounce, and FY27 to US$2,800 per ounce from US$2,500 per ounce. The AUD:USD for the long term remains unchanged at 0.70.

The upgrade in forecast gold price lifts EPS estimates for Evolution Mining by 16% in FY26 and 24% for FY27.

The update was penned prior to the miner’s 4Q25 update and there was no change to the Underweight rating. Target lifts to $6.32 from $5.57.

This report was published on July 14, 2025.

Target price is $6.32 Current Price is $7.52 Difference: minus $1.2 (current price is over target).
If EVN meets the Jarden target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $6.88, suggesting downside of -8.5%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 19.00 cents and EPS of 42.20 cents.
At the last closing share price the estimated dividend yield is 2.53%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.3, implying annual growth of 137.5%.
Current consensus DPS estimate is 22.8, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 14.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 21.00 cents and EPS of 59.10 cents.
At the last closing share price the estimated dividend yield is 2.79%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 67.7, implying annual growth of 29.4%.
Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 11.1.

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

GGP    GREATLAND RESOURCES LIMITED

Gold & Silver – Overnight Price: $6.78

Jarden rates ((GGP)) as Initiation of coverage with Overweight (2) –

Jarden has initiated coverage of Greatland Resources with an Overweight rating and target price of $6.20.

The broker believes the company offers a unique offering in the mid-cap gold space. The key positive is a free cash flow generating Telfer operation, which is expected to generate enough cash to fund the Havieron development.

The analyst is modelling a five-year mining inventory plus one year of stockpiles for Telfer. For the Haverion development and expansion, the broker is forecasting total remaining capex of -$1.3-1.4bn, and expects production to transition there from FY28.

Target price of $6.20 is based on gold price forecast of US$2,400/oz and AUD/USD exchange rate of $0.70.

This report was published on July 11, 2025.

Target price is $6.20 Current Price is $6.78 Difference: minus $0.58 (current price is over target).
If GGP meets the Jarden target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 50.70 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.37.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 56.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.02.

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

HSN    HANSEN TECHNOLOGIES LIMITED

IT & Support – Overnight Price: $5.62

Moelis rates ((HSN)) as Buy (1) –

Hansen Technologies lifted its EBITDA guidance for FY25 by 9-11% above the top end of the previous range despite lowering revenue guidance by -2.4%.

Moelis assumes a combination of higher margins in 2H25 from operational efficiency and from higher-margin licence fees. 

The analyst cut revenue forecasts but raised margin estimates, resulting in a 24% lift to the net profit forecast for FY25 and a 7.1% increase for the FY26 estimate.

Buy. Target rises to $6.60 from $6.00.

This report was published on July 14, 2025.

Target price is $6.60 Current Price is $5.62 Difference: $0.98
If HSN meets the Moelis target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $6.95, suggesting upside of 23.7%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 11.00 cents and EPS of 25.40 cents.
At the last closing share price the estimated dividend yield is 1.96%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.8, implying annual growth of 119.9%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 24.6.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 13.00 cents and EPS of 27.90 cents.
At the last closing share price the estimated dividend yield is 2.31%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.14.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 27.4, implying annual growth of 20.2%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 20.5.

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

HUB    HUB24 LIMITED

Wealth Management & Investments – Overnight Price: $99.22

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

Jarden notes Hub24 reported 4Q25 custodial funds under administration which met expectations, with net flows better than anticipated.

The analyst is increasingly positive on the flow outlook for FY26, with managed accounts expected to offset an easing in adviser growth.

Barring any market shocks, like those seen in April this year, Jarden believes Hub24 is most likely to exceed the upper end of its FY26 custodial funds under administration guidance.

There is no change to the Underweight rating, due to the 55% rise in the share price over the last six months and the valuation ascribed to the stock for a forecast compound average growth rate in two-year EPS of 24.7%.

Target advances to $84.50 from $79.50. The analyst tweaks EPS estimates ahead of FY25 results.

This report was published on July 15, 2025.

Target price is $84.50 Current Price is $99.22 Difference: minus $14.72 (current price is over target).
If HUB meets the Jarden target it will return approximately minus 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 57.90 cents and EPS of 117.60 cents.
At the last closing share price the estimated dividend yield is 0.58%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 84.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 76.70 cents and EPS of 153.80 cents.
At the last closing share price the estimated dividend yield is 0.77%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 64.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.

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

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Moelis rates ((HUB)) as Downgrade to Hold from Buy (3) –

Moelis downgrades Hub24 to Hold from Buy due to the stock’s valuation, but the analyst acknowledges robust market conditions will most likely underscore a strong share price.

The platform’s 4Q25 update continued to reflect strong momentum, with net flows of $5.3bn, higher than both the analyst’s and consensus forecasts, excluding large transitions of $1.2bn, above Moelis’ forecast of $0.9bn.

The Equity Trustees ((EQT)) migrations have now been completed.

The most recent Plan for Life data in March showed HUB had achieved the largest quarterly and annual market share gains of all the platform providers, up to 8.7% from 7.2% in March.

Adviser growth rose 12.6% on a year earlier, which is considered a good indicator of future flows.

Moelis lifts EPS forecasts by 4.4% for FY25 and 11% for FY26, with an accompanying rise in the target price to $107.94.

This report was published on July 16, 2025.

Target price is $107.94 Current Price is $99.22 Difference: $8.72
If HUB meets the Moelis target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Moelis forecasts a full year FY25 dividend of 55.50 cents and EPS of 114.10 cents.
At the last closing share price the estimated dividend yield is 0.56%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 86.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 74.90 cents and EPS of 153.80 cents.
At the last closing share price the estimated dividend yield is 0.75%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 64.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.

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

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Wilsons rates ((HUB)) as Market Weight (3) –

Wilsons notes underlying net flows for Hub24’s 4Q24 update came in at $4.1bn, ahead of forecast and above consensus, with market movement adding 4.8% and Equity Trustees (EQT) migration a further $1.2bn.

Custodial funds under administration of $112.7bn were as expected, with adviser growth up 82% on the previous quarter, which is a tad weaker than prior quarters.

The analyst notes the trend of new distribution agreements, up 35% on the previous quarter, compares well to the two-year average at 31.2% and underscores the ongoing net flows growth.

Wilsons expects another robust year ahead, with momentum expected to continue. Market weight. Target $90.62.

This report was published on July 15, 2025.

Target price is $90.62 Current Price is $99.22 Difference: minus $8.6 (current price is over target).
If HUB meets the Wilsons target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $87.43, suggesting downside of -11.9%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 51.00 cents and EPS of 115.20 cents.
At the last closing share price the estimated dividend yield is 0.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 86.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.7, implying annual growth of 90.4%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 0.5%.
Current consensus EPS estimate suggests the PER is 89.6.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 67.50 cents and EPS of 151.40 cents.
At the last closing share price the estimated dividend yield is 0.68%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 65.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 142.3, implying annual growth of 28.5%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 69.7.

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

JHX    JAMES HARDIE INDUSTRIES PLC

Building Products & Services – Overnight Price: $39.69

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

Due to slowing US demand and higher interest costs associated with James Hardie Industries’ Azek acquisition, offset by an earlier than expected completion of the deal and higher earnings forecasts for Azek, Jarden tweaks EPS forecasts up by 0.5% for FY26 to FY30.

Macroeconomic data and peer reporting infer there is downside risk to near term earnings, with recent downgrades from Reece ((REH)), Brickworks ((BKW)), and US-based Lennar.

Jarden continues to like James Hardie for its business model and customer-focused “value” positioning, which the broker believes has been improved via the Azek acquisition.

No change to Overweight rating. Target rises to $44 from $42 due to a change in the ascribed valuation.

This report was published on July 15, 2025.

Target price is $44.00 Current Price is $39.69 Difference: $4.31
If JHX meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $45.80, suggesting upside of 15.4%(ex-dividends)
The company’s fiscal year ends in March.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 165.69 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 23.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 228.2, 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 17.4.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 220.25 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.02.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 259.5, implying annual growth of 13.7%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 15.3.

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

KAR    KAROON ENERGY LIMITED

Crude Oil – Overnight Price: $1.90

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

Karoon Energy is due to announce its 2Q2025 update on July 24, with Jarden forecasting 2.9mmboe production, which is a rise of 24% on the previous quarter due to a full quarter’s contribution in Brazil.

The estimated sales revenue of US$196m is based on five Brazil cargoes sold, and the analyst believes there is upside potential for 2025 production guidance.

Jarden lifts EPS forecasts by 30.8% for 2025 and 45.2% for 2026.

No change to Overweight rating. Target set at $2.10.

This report was published on July 14, 2025.

Target price is $2.10 Current Price is $1.90 Difference: $0.2
If KAR meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.20, suggesting upside of 15.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 7.88 cents and EPS of 30.14 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.9, implying annual growth of N/A.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 9.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 6.96 cents and EPS of 27.82 cents.
At the last closing share price the estimated dividend yield is 3.66%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 6.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.5, implying annual growth of 17.2%.
Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 7.8.

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

NEC    NINE ENTERTAINMENT CO. HOLDINGS LIMITED

Print, Radio & TV – Overnight Price: $1.68

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

Ahead of Nine Entertainment’s FY25 result on August 27, Jarden is pondering what the company will look like after the Domain ((DHG)) sale is completed. 

The broker believes digital revenues will continue to be significant, contributing 47% to revenue post-Domain. For FY25, the broker’s group revenue forecast is 0.2% ahead of consensus, but the EBITDA forecast is -3% lower.

The broker lifted FY25 EPS forecast by 3% and FY26 by 4.3% after updating forecasts to reflect the acquisition of Optus sport assets, a small rise in television revenue and updated estimates for Domain volumes.

If the Domain sale is completed in August and the company pays $0.48/share special dividend, the analyst expects the valuation will decline to $1.27, all else equal.

Overweight. Target unchanged at $1.80.

This report was published on July 11, 2025.

Target price is $1.80 Current Price is $1.68 Difference: $0.12
If NEC meets the Jarden target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $1.90, suggesting upside of 13.4%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 5.90 cents and EPS of 8.40 cents.
At the last closing share price the estimated dividend yield is 3.51%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.0, implying annual growth of 45.6%.
Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 4.2%.
Current consensus EPS estimate suggests the PER is 16.8.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 6.70 cents and EPS of 9.50 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 17.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.2, implying annual growth of 32.0%.
Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 12.7.

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

ORG    ORIGIN ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $11.71

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

Origin Energy is due to report its 4Q25 update on July 31, with Jarden flagging expected APLNG production of 36.3PJ and domestic gas sales of 9.3PJ for the company’s share, with forecast sales revenue down -7% on the previous quarter to $620m.

Commentary suggests a warmer than average start to winter in southern Australia may result in softer retail gas demand in the quarter.

No change to Underweight rating. Target set at $10.95.

This report was published on July 14, 2025.

Target price is $10.95 Current Price is $11.71 Difference: minus $0.76 (current price is over target).
If ORG 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 $11.10, suggesting downside of -5.2%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 60.00 cents and EPS of 81.80 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.32.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 87.2, implying annual growth of 7.5%.
Current consensus DPS estimate is 59.4, implying a prospective dividend yield of 5.1%.
Current consensus EPS estimate suggests the PER is 13.4.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 60.00 cents and EPS of 69.60 cents.
At the last closing share price the estimated dividend yield is 5.12%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 65.6, implying annual growth of -24.8%.
Current consensus DPS estimate is 61.3, implying a prospective dividend yield of 5.2%.
Current consensus EPS estimate suggests the PER is 17.9.

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

STO    SANTOS LIMITED

NatGas – Overnight Price: $7.73

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

Santos is due to report its 2Q2025 update today (July 17), with Jarden anticipating production of 21.8mmboe, which is largely flat on the previous quarter.

Commentary suggests the market is likely to concentrate on any due diligence updates, as well as commentary on Barossa and Pikka, with some risks to the downside for production guidance in 2025.

No change to Overweight rating. Target set at $8.40.

This report was published on July 14, 2025.

Target price is $8.40 Current Price is $7.73 Difference: $0.67
If STO meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $8.19, suggesting upside of 6.0%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 25.04 cents and EPS of 45.44 cents.
At the last closing share price the estimated dividend yield is 3.24%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 17.01.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 52.0, implying annual growth of N/A.
Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 14.9.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 30.45 cents and EPS of 66.31 cents.
At the last closing share price the estimated dividend yield is 3.94%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 11.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 57.7, implying annual growth of 11.0%.
Current consensus DPS estimate is 30.9, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 13.4.

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

TYR    TYRO PAYMENTS LIMITED

Business & Consumer Credit – Overnight Price: $0.96

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

While Wilsons expects limited changes to the outlook for Tyro Payments based on the RBA’s consultation paper on interchange fee reductions, the broker believes the underlying merchants will most likely have to bear the incremental 1.5% cost of doing business.

This means the merchants are likely to raise their prices by the same amount, which would impact consumer savings, Wilsons explains.

The broker is reviewing forecasts.

This report was published on July 15, 2025.

Target price is $1.15 Current Price is $0.96 Difference: $0.19
If TYR meets the Wilsons target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 38.5%(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 3.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 3.4, implying annual growth of -30.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 28.2.

Forecast for FY26:

Wilsons forecasts a full year FY26 dividend of 0.00 cents and EPS of 4.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 21.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 4.2, implying annual growth of 23.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.9.

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

WDS    WOODSIDE ENERGY GROUP LIMITED

NatGas – Overnight Price: $24.17

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

Jarden notes Woodside Energy is due to report its 2Q2025 update on July 23, with the broker expecting production of 50.7mmboe, a rise of 3% on the previous quarter, and sales revenue of US$3,157m, down -2% on 1Q2025 due to a decline in realised prices for oil and LNG.

The analyst lifts its target to $25.05 after ascribing higher forecast oil prices and lower weighted average cost of capital assumptions.

Jarden lifts EPS estimates by 7.6% for 2025 and 45.4% for 2026. No change to Overweight rating.

This report was published on July 14, 2025.

Target price is $25.05 Current Price is $24.17 Difference: $0.88
If WDS meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $25.13, suggesting upside of 4.0%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 125.19 cents and EPS of 158.27 cents.
At the last closing share price the estimated dividend yield is 5.18%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 161.6, implying annual growth of N/A.
Current consensus DPS estimate is 135.5, implying a prospective dividend yield of 5.6%.
Current consensus EPS estimate suggests the PER is 15.0.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 72.64 cents and EPS of 93.35 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 25.89.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 111.7, implying annual growth of -30.9%.
Current consensus DPS estimate is 91.1, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 21.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WTC    WISETECH GLOBAL LIMITED

Cloud services – Overnight Price: $113.34

Jarden rates ((WTC)) as Neutral (3) –

In a preview of WiseTech Global’s FY25 result, Jarden notes its expectation for a 25% revenue lift to US$797m, -2% vs consensus and at the lower end of guidance. 

The broker didn’t include the E2open acquisition in forecasts but factored in -US$40m one-off costs related to the acquisition, which lowered EBITDA estimate by -9.8%. This resulted in a cut to FY25 EPS estimate, but FY26 was left unchanged.

Neutral. Target rises to $106 from $100 due to a lower risk-free rate assumption and a higher long-term EBITDA margin assumption.

This report was published on July 11, 2025.

Target price is $106.00 Current Price is $113.34 Difference: minus $7.34 (current price is over target).
If WTC meets the Jarden target it will return approximately minus 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company’s fiscal year ends in June.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 9.60 cents and EPS of 90.11 cents.
At the last closing share price the estimated dividend yield is 0.08%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 125.78.

Forecast for FY26:

Jarden forecasts a full year FY26 EPS of 141.58 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 80.06.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

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