SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

SKC - SKYCITY ENTERTAINMENT GROUP LIMITED

FNArena Sector : Gaming
Year End: June
GICS Industry Group : Consumer Services
Debt/EBITDA: 2.94
Index: ASX300 | ALL-ORDS

Auckland-based SkyCity owns and operates five casinos in New Zealand (4) and Australia (Adelaide). It was founded in 1996 and listed on the ASX in 1999. It is also listed on the NZX.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.41

22 Jul
2024

0.000

OPEN

$1.44

0.000

HIGH

$1.44

218,921

LOW

$1.39

TARGET
$2.90 105.7% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
AGI . ALL . BET . JIN . LNW . PBH . PLY . SGR . TAH . TLC . TLC .
FNARENA'S MARKET CONSENSUS FORECASTS
SKC: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 14.9 xxx
DPS (cps) 6.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.6 xxx
Dividend Yield 4.6% xxx
Div Pay Ratio(%) 44.1% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 4.22%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 9.03

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 06/03 - ex-div 4.87c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx1.0
DPS All xxxxxxxxxxxxxxx12.9
Sales/Revenue xxxxxxxxxxxxxxx734.7 M
Book Value Per Share xxxxxxxxxxxxxxx185.8
Net Operating Cash Flow xxxxxxxxxxxxxxx230.3 M
Net Profit Margin xxxxxxxxxxxxxxx0.99 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx0.52 %
Return on Invested Capital xxxxxxxxxxxxxxx0.37 %
Return on Assets xxxxxxxxxxxxxxx0.29 %
Return on Equity xxxxxxxxxxxxxxx0.52 %
Return on Total Capital xxxxxxxxxxxxxxx6.57 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-44.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx45 M
Long Term Debt xxxxxxxxxxxxxxx591 M
Total Debt xxxxxxxxxxxxxxx636 M
Goodwill - Gross xxxxxxxxxxxxxxx33 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx226 M
Price To Book Value xxxxxxxxxxxxxxx1.13

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx240.5 M
Capex % of Sales xxxxxxxxxxxxxxx32.74 %
Cost of Goods Sold xxxxxxxxxxxxxxx415 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx187 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx151 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

07/06/2024

1

Outperform

-

-

SkyCity Entertainment provided a guidance update with a lower than expected trading outlook for FY24/FY25, otherwise known as a "profit warning".

Macquarie highlights the FY25 guidance update is notably earlier than is usually case for the company, and points to the impact of rising costs, excluding one-off items and a softening in the outlook for revenues.

Question marks around the balance sheet are likely to be in focus, the broker highlights, given the weaker outlook for earnings and fines under a worst case scenario of NZ$198m (excluding a possible licence suspension).

Macquarie lowers EBITDA forecasts by -3% and -19% for FY24 and FY25, including -NZ$25m in one-off costs. No dividend is expected in FY25.

Outperform rating maintained, The target is revised to NZ$1.85 from NZ$2.45.

FORECAST
Macquarie forecasts a full year FY24 dividend of 4.89 cents and EPS of 14.78 cents.
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.35 cents.

UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

13/06/2024

2

Downgrade to Overweight from Buy

-

-

Jarden downgrades its rating for SkyCity Entertainment to Overweight from Buy and reduces the target to NZ$1.75 from NZ$2.90 after a profit warning, maiden guidance for FY25 and suspension of dividends until FY26.

Dividends are impacted while management conducts a wider capital structure review, including consideration of asset sales.

Earnings (EBITDA) guidance for FY24 was lowered to NZ$280-285m, down around -3% compared to the broker's forecast, due to the impact of a challenging economic environment on customer spend. FY25 underlying earnings guidance is NZ$250-270m.

There has also been a further delay to the Horizon Hotel opening (now set for August), and a potential increase in duty expense at the Adelaide casino following a recent South Australian Court of Appeal ruling, explain the analysts.

FORECAST
Jarden forecasts a full year FY24 dividend of 4.89 cents and EPS of 15.33 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 10.90 cents.
Access Stockbroker Research History >

SKC STOCK CHART

FNArena News on SKC

1
In Case You Missed It – BC Extra Upgrades & Downgrades – 14-06-24

Jun 14 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Jun 13, 2024

Jun 13 2024 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – May 28, 2024

May 28 2024 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Mar 21, 2024

Mar 21 2024 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Mar 06, 2024

Mar 06 2024 - Daily Market Reports

Latest Gaming News

1
Not All Gaming Stocks Are Winners

Jul 17 2024 - Australia
2
Jumbo’s FY25 Growth Potential Under A Cloud

Jul 10 2024 - Small Caps
3
Will Aristocrat Win The US$1bn Jackpot?

Jul 01 2024 - Australia
4
Meet Light & Wonder, The New Star In Gaming

Jun 20 2024 - Australia
5
Aristocrat Leisure’s $2.9bn Shareholder Windfall

May 22 2024 - Australia
6
Aristocrat Leisure: Breaking Out

Feb 27 2024 - Technicals
7
Aristrocrat Set To Extend US Market Share

Jul 27 2023 - Australia
8
Regulatory Risk On The Rise For Endeavour Group

Jul 18 2023 - Australia
9
Roll Of The Dice; Recession Proof Gambling

Jul 05 2023 - Australia
10
Aristocrat Boosts Real Money Gaming Strategy

May 16 2023 - Australia