EQT HOLDINGS LIMITED (EQT)
Share Price Analysis and Chart

23/06/2026

2

Accumulate

$17.75

9.57%

EQT Holdings has announced it is leaving the superannuation trustee business, post the February strategic review.

Ord Minnett does not see the decision as surprising albeit the analyst points out no sale process was announced but management is expecting an additional update before the FY26 results are announced.

Several one off costs are expected to be released the analyst points out including -$13m impairment (non-cash) for the super trustee business as well as further costs for the strategic review, -$4.7m in 2H26 and legal costs of -$2m (Shield and First Guardian related).

The broker forecasts a potential circa -4% impact on EPS, depending on the sale price.

Accumulate rating and $17.75 target are retained.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 93.80 cents and EPS of 151.80 cents.
Ord Minnett forecasts a full year FY27 dividend of 116.30 cents and EPS of 165.50 cents.

25/06/2026

1

Buy

$22.05

36.11%

Canaccord Genuity maintains a Buy rating for EQT Holdings with its target price decreased to $22.05 following an announced strategic intention to wind down or divest Superannuation Trustee Services (STS).

Completing this corporate exit will require up to $36m of debt repayment previously committed under operational risk financial requirements, driving a -$13m goodwill impairment charge.

The analyst notes elevated litigation costs defending the Shield and First Guardian regulatory proceedings will persist through FY27-FY28, resulting in -3% to -6% downgrades to pro-forma profit before tax forecasts.

Near-term liquidity remains constrained with second-half net cash flows tracking near zero, forcing the board to review flexible funding options regarding pending dividend declarations.

Structural balance sheet stabilisation is expected to recover gradually late this year, through a planned $5m cash injection via the concluding Hub24 ((HUB)) transaction.