Australian Broker Call *Extra* Edition – Sep 23, 2025

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(
    [0] => Array
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            [0] => ((ABB))
            [1] => ((BRE))
            [2] => ((CY5))
            [3] => ((EBR))
            [4] => ((HGO))
            [5] => ((IFT))
            [6] => ((NWL))
            [7] => ((PSC))
            [8] => ((PYC))
            [9] => ((QAL))
            [10] => ((MXT))
            [11] => ((MOT))
            [12] => ((MQG))
            [13] => ((NWL))
            [14] => ((HUB))
            [15] => ((SKC))
            [16] => ((SLX))
            [17] => ((STO))
            [18] => ((WDS))
        )

    [1] => Array
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            [0] => ABB
            [1] => BRE
            [2] => CY5
            [3] => EBR
            [4] => HGO
            [5] => IFT
            [6] => NWL
            [7] => PSC
            [8] => PYC
            [9] => QAL
            [10] => MXT
            [11] => MOT
            [12] => MQG
            [13] => NWL
            [14] => HUB
            [15] => SKC
            [16] => SLX
            [17] => STO
            [18] => WDS
        )

)

This story features AUSSIE BROADBAND LIMITED, and other companies.
For more info SHARE ANALYSIS: ABB
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.

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)

ABB   BRE   CY5   EBR   HGO   IFT   NWL   PSC   PYC   QAL   SKC   SLX   STO   WDS  

ABB    AUSSIE BROADBAND LIMITED

Telecommunication – Overnight Price: $5.50

Jarden rates ((ABB)) as Upgrade to Overweight from Neutral (2) –

Jarden raises its target for Aussie Broadband to $5.80 from $5.30 and upgrades to Overweight from Neutral.

The broker raises its per-unit earnings (EBITDA) assumptions for the More & Tangerine (M&T) contract by 10% annually. This raises Jarden’s terminal-year (FY32) EBITDA contribution to around $32.8m from $19.8m and drives a 6% EPS upgrade by FY32.

The broker notes residential remains the key long-term driver, with Aussie’s brand strength and premium pricing sustaining attractive economics. By FY32, around 4.8 M&T customers are expected to generate the same incremental earnings as one residential subscriber.

The analysts caution risks include weaker residential growth, competition from alternate technologies such as fixed wireless access, and greater price competition. 

This report was published on September 18, 2025.

Target price is $5.80 Current Price is $5.50 Difference: $0.3
If ABB meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.95, suggesting upside of 8.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 7.00 cents and EPS of 24.50 cents.
At the last closing share price the estimated dividend yield is 1.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 22.45.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.8, implying annual growth of 68.0%.
Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 29.3.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 11.00 cents and EPS of 33.90 cents.
At the last closing share price the estimated dividend yield is 2.00%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 16.22.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.4, implying annual growth of 35.1%.
Current consensus DPS estimate is 8.1, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 21.7.

Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

BRE    BRAZILIAN RARE EARTHS LIMITED

Rare Earth Minerals – Overnight Price: $3.78

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

Canaccord Genuity notes Brazilian Rare Earths’ latest assays at Sulista East confirm continuous, thick and high-grade mineralisation, with intercepts averaging 3.1% total rare earth oxides (TREO) across 500 metres of strike.

Together with Sulista West’s recent high-grade results, drilling continues to validate the exploration model and points to a large, high-grade resource potential at Sulista, the broker highlights.

In the near term, the broker sees the upcoming mineral resource estimate and scoping study at Monte Alto (expected late 2025/early 2026) as the next key catalyst for share valuation.

Speculative Buy. Target unchanged at $5.65.

This report was published on September 17, 2025.

Target price is $5.65 Current Price is $3.78 Difference: $1.87
If BRE meets the Canaccord Genuity target it will return approximately 49% (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 minus 0.25 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 1512.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 EPS of minus 0.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 472.50.

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

CY5    CYGNUS METALS LIMITED

Gold & Silver – Overnight Price: $0.11

Canaccord Genuity rates ((CY5)) as Speculative Buy (1) –

Cygnus Metals released an updated mineral resource estimate of 14.9Mt at 3.3% copper equivalent at its 100%-owned Chibougamau copper-gold project in Quebec.

The result will underpin a scoping study due in the March 2026 quarter. The update included a maiden Golden Eye resource of 1.7Mt at 4.9% gold-equivalent, exceeding Canaccord Genuity’s expectations and remaining open at depth and along strike.

The broker notes the company is well-funded to continue exploration with $23m cash at the end of June. 

Speculative Buy. Target unchanged at 30c.

This report was published on September 17, 2025.

Target price is $0.30 Current Price is $0.11 Difference: $0.193
If CY5 meets the Canaccord Genuity target it will return approximately 180% (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

EBR    EBR SYSTEMS INC

Medical Equipment & Devices – Overnight Price: $1.21

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

Canaccord Genuity is impressed with the speed of the initial commercial rollout of EBR Systems’ WiSE device, with the 10th implant announced recently.

The broader commercial rollout is expected after October, when reimbursement commences. The broker now expects FY25 to see more implants than its estimate of 13 units.

For FY26, the broker is forecasting around 416 units for revenue of US$18m.

Buy. Target unchanged at $2.48.

This report was published on September 17, 2025.

Target price is $2.48 Current Price is $1.21 Difference: $1.27
If EBR meets the Canaccord Genuity target it will return approximately 105% (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 13.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 8.96.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 15.98 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.57.

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

HGO    HILLGROVE RESOURCES LIMITED

Copper – Overnight Price: $0.04

Moelis rates ((HGO)) as Buy (1) –

Hillgrove Resources announced its underground drilling program results at the Emily Star deposit with Moelis pointing to positive results.

Grades above the existing 0.77% copper resource came in. Management aims to build a further platform at Nugent to target Emily Star, to underpin greater ore definition, which, if positive, the analyst asserts could result in a significant upgrade to the explorer’s resource base.

Buy. Target price 6c

This report was published on September 18, 2025.

Target price is $0.06 Current Price is $0.04 Difference: $0.02
If HGO meets the Moelis target it will return approximately 50% (excluding dividends, fees and charges).
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 0.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 8.00.

Forecast for FY26:

Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 1.20 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 3.33.

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

IFT    INFRATIL LIMITED

Wealth Management & Investments – Overnight Price: $10.86

Jarden rates ((IFT)) as Buy (1) –

At the Investor Day on September 18, Infratil announced a refinement of its portfolio into two distinct arms with around 3-4 scaled assets or 40% of the portfolio targeting 5% yield and 7-10 higher-growth assets targeting 15-20%.

Jarden highlights the framework is in line with previous updates, and near-term capital needs will be met from asset recycling. The company notes CDC data centres remains on track to double FY25 earnings by FY27 despite near-term delays.

Longroad will benefit from extended US tax credits through 2037, underpinning over 12 years of build economics with upside optionality.

One NZ guidance was for NZ$595-625m FY26 EBITDA, with margins expanding to 35% from 31% via data growth, pricing, and efficiency.

Gurin’s large Vanda project shows promise, Jarden notes, but limited detail and pending approvals dampen near-term investor confidence.

Buy. Target unchanged at NZ$14.79.

This report was published on September 18, 2025.

Current Price is $10.86. Target price not assessed.
Current consensus price target is N/A
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 minus 16.86 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 64.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.0, implying annual growth of N/A.
Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 135.8.

Forecast for FY27:

Jarden forecasts a full year FY27 EPS of 15.77 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 68.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 13.3, implying annual growth of 66.3%.
Current consensus DPS estimate is 19.9, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 81.7.

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

NWL    NETWEALTH GROUP LIMITED

Wealth Management & Investments – Overnight Price: $30.82

Jarden rates ((NWL)) as Upgrade to Overweight from Neutral (2) –

Jarden notes Netwealth Group’s share price fell -10% since FY25 results on ASIC’s investigation into failed funds First Guardian and Shield, but risks appear more moderate given it cut off First Guardian flows earlier than peers.

The broker highlights past ASIC cases imply potential penalties of -$40m, which is around 21% of the FY26 earnings estimate. However, exposure is contained by the company’s low super dependence, strong product offering, and margin flexibility.

Overall, the broker reckons the company has the capacity to absorb any costs within the FY26 cost forecast, and in fact, further out, it could benefit from flows from sub-scale platforms that may struggle to meet growing trustee demands.

FY26-27 earnings forecasts trimmed by -1-2% on higher cost growth. Target cut to $34.00 from $34.60.

Rating upgraded to Overweight from Neutral.

This report was published on September 18, 2025.

Target price is $34.00 Current Price is $30.82 Difference: $3.18
If NWL meets the Jarden target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $33.38, suggesting upside of 8.3%(ex-dividends)
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 48.90 cents and EPS of 58.20 cents.
At the last closing share price the estimated dividend yield is 1.59%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 52.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 54.8, implying annual growth of 15.1%.
Current consensus DPS estimate is 44.9, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 56.2.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 58.30 cents and EPS of 69.40 cents.
At the last closing share price the estimated dividend yield is 1.89%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 44.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 64.5, implying annual growth of 17.7%.
Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 47.8.

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

PSC    PROSPECT RESOURCES LIMITED

New Battery Elements – Overnight Price: $0.19

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

Prospect Resources reported Phase 2 assay results for 10 of the 14 diamond holes drilled at the Kabikupa deposit at the Mumbezhi project in Zambia.

The deposit hosts 20.5Mt  at 0.5% copper and is part of the broader Mumbezhi’s 107Mt at 0.5% Cu mineral resource estimate, with further assays pending from the broader 18,000 metres program.

Canaccord Genuity notes the results support strong resource expansion potential toward the 420–1,050Mt exploration target, opening up development options. This includes possible supplementary feed to First Quantum Mineral’s Sentinel mine post-2029.

Speculative Buy. Target unchanged at 45c.

This report was published on September 18, 2025.

Target price is $0.45 Current Price is $0.19 Difference: $0.26
If PSC meets the Canaccord Genuity target it will return approximately 137% (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 1.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 19.00.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 2.00 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 9.50.

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

PYC    PYC THERAPEUTICS LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.04

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

PYC Therapeutics announced the departure of its CEO Rohan Hockings, and Canaccord Genuity is disappointed but notes it is not a reflection on clinical data quality or conviction in the pipeline.

The broker believes the negative share price reaction reflects uncertainty and shock. For longer-term investors, the broker reckons the sell-off represents a buying opportunity, provided the new leadership can provide balance sheet support to maximise value.

Buy. Target unchanged at $2.85.

This report was published on September 17, 2025.

Target price is $2.85 Current Price is $1.04 Difference: $1.81
If PYC meets the Canaccord Genuity target it will return approximately 174% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 13.60 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 7.65.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 18.80 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 5.53.

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

QAL    QUALITAS LIMITED

Wealth Management & Investments – Overnight Price: $3.45

Jarden rates ((QAL)) as Buy (1) –

Jarden notes recent downgrades of Metrics Master Income Trust ((MXT)) and Metrics Income Opportunities Trust ((MOT)) highlight conflicts of interest, reduced transparency, and governance concerns.

This prompted Macquarie Group ((MQG)) to freeze new super allocations to four Metrics funds. 

The broker notes Qualitas’ wholesale fund, launched in 2023, is already on BT, Netwealth ((NWL)), Mason Stevens and soon Hub24 ((HUB)), positioning it to capture flows from investors shifting away from Metrics.

The broker believes Qualitas’ best-practice approach via strict lending limits, transparency, and conservative leverage positions it as a long-term winner.

Buy. Target unchanged at $4.26.

This report was published on September 19, 2025.

Target price is $4.26 Current Price is $3.45 Difference: $0.81
If QAL meets the Jarden target it will return approximately 23% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 12.90 cents and EPS of 13.80 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 25.00.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 15.70 cents and EPS of 16.90 cents.
At the last closing share price the estimated dividend yield is 4.55%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.41.

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

SKC    SKYCITY ENTERTAINMENT GROUP LIMITED

Gaming – Overnight Price: $0.58

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

Jarden resumes coverage of SkyCity Entertainment with an unchanged Overweight rating and target price of NZ95c, reduced from NZ$1.75.

Around -NZ40c of the target price fall is from lower cash flow forecasts, explain the analysts, and -NZ40c from dilution following an NZ$240m raising at NZ70c to manage leverage covenants.

The raising supports a BBB- rating and covers the NZ$175m bond due May 2027 without relying on asset sales, highlights the broker.

Dividends are expected to resume in FY28 at 85% payout, or FY27 if sales such as the Auckland car park proceed.

Jarden observes the Commissioner is considering enforcement action, with a fine yet to be determined and a -NZ$50m penalty included in its FY26 estimates.

This report was published on September 17, 2025.

Current Price is $0.58. Target price not assessed.
The company’s fiscal year ends in June.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.10 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 18.88.

Forecast for FY27:

Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 4.38 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 13.37.

This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

SLX    SILEX SYSTEMS LIMITED

Uranium – Overnight Price: $6.01

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

Global Laser Enrichment (GLE), a company 51% owned by Silex Systems, has produced hundreds of kilos of low enriched uranium and is on track to achieve TRL6, meaning it could move beyond lab prototypes.

Canaccord Genuity notes the planned Paducah Laser Enrichment Facility is the only new US enrichment project under NRC licence review, backed by in excess of -US$550m investment to date.

GLE has bid into the US DOE’s Task Order 2, worth up to US$900m milestone-based funding to establish new domestic enrichment capacity by 2031.

The broker notes further upside could come from the Section 232 investigation into uranium imports and Cameco’s (49% owner of GLE) option to lift its GLE stake by 26% at fair market value.

Speculative Buy. Target rises to $6.90 from $6.64.

This report was published on September 17, 2025.

Target price is $6.90 Current Price is $6.01 Difference: $0.89
If SLX meets the Canaccord Genuity target it will return approximately 15% (excluding dividends, fees and charges).
The company’s fiscal year ends in June.

Forecast for FY26:

Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 429.29.

Forecast for FY27:

Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus 4.50 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is minus 133.56.

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

STO    SANTOS LIMITED

NatGas – Overnight Price: $6.80

Jarden rates ((STO)) as Downgrade to Underweight from Overweight (4) –

Jarden lowers its target for Santos to $7.05 from $8.40 and downgrades to Underweight from Overweight after ADNOC’s XRG consortium withdrew its indicative US$5.63/share (circa $8.42) takeover offer.

Santos had been trading at a discount, closing at $7.65 on September 17, but the broker’s underlying valuation is $7.05 at US$70/bbl Brent, or $6.39 at US$65/bbl.

The analysts explain the consortium cited a mix of commercial factors and terms in the Scheme Implementation Agreement as reasons for pulling out. Market disappointment is expected, with investors likely to question management’s negotiation strategy.

The broker expects management to emphasise upcoming catalysts including first gas from Barossa LNG by late September and the accelerated timeline at Pikka in Alaska.

All in all, it’s thought shareholders will be left bruised by the collapse of the deal.

This report was published on September 18, 2025.

Target price is $7.05 Current Price is $6.80 Difference: $0.25
If STO meets the Jarden target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $8.02, suggesting upside of 17.9%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 35.84 cents and EPS of 47.63 cents.
At the last closing share price the estimated dividend yield is 5.27%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.2, implying annual growth of N/A.
Current consensus DPS estimate is 37.2, implying a prospective dividend yield of 5.5%.
Current consensus EPS estimate suggests the PER is 11.1.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 36.31 cents and EPS of 62.37 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 10.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.3, implying annual growth of 0.2%.
Current consensus DPS estimate is 39.6, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 11.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

WDS    WOODSIDE ENERGY GROUP LIMITED

NatGas – Overnight Price: $22.81

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

Woodside Energy has quickly advanced its US LNG position, highlights Jarden, sanctioning the -US$17.5bn, 16.5mtpa Louisiana LNG (LALNG) project inside 14 months.

The three-train project targets first production in 2029 and gives Woodside 8mtpa of LNG offtake.

The broker stresses most value lays in the LNG sales, with HoldCo returns below weighted average cost of capital (WACC).

Including sales, NPV is US$3bn, with gearing peaking at 24.3%, note the analysts, if management keeps all HoldCo equity or 20.7% if -30% is sold.

The broker views equity selldown as key to boosting returns and lowering debt, though it’s thought competition from other US LNG projects may make selling -20-30% of HoldCo more difficult.

The broker lifts its target price to $26.10 from $25.60 and retains an Overweight rating.

This report was published on September 17, 2025.

Target price is $26.10 Current Price is $22.81 Difference: $3.29
If WDS meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $25.80, suggesting upside of 13.1%(ex-dividends)
The company’s fiscal year ends in December.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 147.40 cents and EPS of 184.95 cents.
At the last closing share price the estimated dividend yield is 6.46%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 12.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 169.2, implying annual growth of N/A.
Current consensus DPS estimate is 149.7, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 13.5.

Forecast for FY26:

Jarden forecasts a full year FY26 dividend of 88.44 cents and EPS of 113.58 cents.
At the last closing share price the estimated dividend yield is 3.88%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 20.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.1, implying annual growth of -37.3%.
Current consensus DPS estimate is 92.7, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 21.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources

Disclaimer:
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don’t have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide experienced, intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface.

This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

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