Australian Broker Call
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February 13, 2020
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1).
Last Updated: 05:00 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, 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.
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Today's Upgrades and Downgrades
| A2M - | A2 MILK | Upgrade to Buy from Sell | Citi |
| AMC - | AMCOR | Upgrade to Add from Hold | Morgans |
| Downgrade to Neutral from Outperform | Credit Suisse | ||
| CAR - | CARSALES.COM | Downgrade to Neutral from Outperform | Credit Suisse |
| Downgrade to Hold from Accumulate | Ord Minnett | ||
| Downgrade to Sell from Neutral | UBS | ||
| CBA - | COMMBANK | Downgrade to Reduce from Hold | Morgans |
| CNI - | CENTURIA CAPITAL GROUP | Upgrade to Accumulate from Hold | Ord Minnett |
| CPU - | COMPUTERSHARE | Upgrade to Outperform from Neutral | Credit Suisse |
| Downgrade to Lighten from Hold | Ord Minnett | ||
| CSL - | CSL | Downgrade to Neutral from Outperform | Macquarie |
| DOW - | DOWNER EDI | Downgrade to Hold from Accumulate | Ord Minnett |
| EVN - | EVOLUTION MINING | Upgrade to Buy from Neutral | UBS |
| IEL - | IDP EDUCATION | Upgrade to Accumulate from Hold | Ord Minnett |
| ORA - | ORORA | Downgrade to Hold from Add | Morgans |
| OSH - | OIL SEARCH | Upgrade to Buy from Neutral | UBS |
Overnight Price: $15.19
Citi rates A2M as Upgrade to Buy from Sell (1) -
Citi has decided it's time for a double-whammy upgrade; to Buy from Sell. The move is explained by the fact Citi analysts now see upside to forecasts for H2 on the back of the coronavirus outbreak. They note their ebitda forecast for FY20 sits 17% above market consensus presently.
Evidence, albeit anecdotal, that consumers have begun stockpiling essential items, including infant formula, underpins Citi's positive view. While this essentially pulls forward future sales, the analysts are not deterred and anticipate positive impact short-term.
Target price jumps 18% to $17.45 on increased forecasts.
Target price is $17.45 Current Price is $15.19 Difference: $2.26
If A2M meets the Citi target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $14.19, suggesting downside of -6.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 0.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.1, 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 34.4. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 0.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of 22.2%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 0.3%. Current consensus EPS estimate suggests the PER is 28.2. |
This company reports in NZD. 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
Overnight Price: $15.24
Citi rates AMC as Buy (1) -
First half results were in line with expectations and the company has upgraded FY20 guidance to growth in earnings per share of 7-10%, from 5-10%, on higher synergies and lower interest costs.
However, Citi suspects underlying operations are weaker than previously expected. The broker maintains a Buy rating and $17 target.
Target price is $17.00 Current Price is $15.24 Difference: $1.76
If AMC meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 67.75 cents and EPS of 91.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 78.81 cents and EPS of 104.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AMC as Downgrade to Neutral from Outperform (3) -
First half earnings (EBIT) were slightly below Credit Suisse forecasts. Packaging growth in flexibles has been impressive, with the broker noting the company is bucking the broad trends in North America and Europe.
As there was no new significant operating cash in the result, and given the recent share price rally, Credit Suisse downgrades to Neutral from Outperform. Target is $16.25.
Target price is $16.25 Current Price is $15.24 Difference: $1.01
If AMC meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 66.52 cents and EPS of 91.06 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 73.75 cents and EPS of 100.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AMC as Outperform (1) -
"Pretty good," says Macquarie. Amcor's profit beat the broker substantially and earnings slightly exceeded on lower interest and tax.
Flexibles margins stood out and Bemis synergies are off to a flying start, tightening FY guidance to the top end of the range. The broker sees an attractive earnings growth profile thanks to Bemis, related synergies, and raw material cost relief.
The stock is still trading at a -9% discount to the ASX100, the broker notes, below its ten-year average. Outperform retained, target rises to $16.95 from $16.85.
Target price is $16.95 Current Price is $15.24 Difference: $1.71
If AMC meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 66.52 cents and EPS of 90.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 69.13 cents and EPS of 98.92 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates AMC as Overweight (1) -
First half results missed expectations but this was largely confined to issues that have been flagged in the first quarter. Morgan Stanley continues to envisage potential for an upgrade to targets.
The stock remains an attractive defensive exposure and an Overweight rating is retained. Target is raised to $17.00 from $16.50. Cautious industry view.
Target price is $17.00 Current Price is $15.24 Difference: $1.76
If AMC meets the Morgan Stanley target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 66.52 cents and EPS of 89.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 69.41 cents and EPS of 94.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates AMC as Upgrade to Add from Hold (1) -
First half results were slightly weaker than expected. FY20 underlying growth guidance has been improved to 7-10%.
Management has advised that the Bemis integration is progressing well, with cost synergies of US$30m delivered in the first half.
Morgans upgrades to Add from Hold, believing the share price in the short term should be supported by the ongoing US$500m buyback. Target is raised to $16.62 from $14.70.
Target price is $16.62 Current Price is $15.24 Difference: $1.38
If AMC meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 69.41 cents and EPS of 91.11 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 72.31 cents and EPS of 96.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AMC as Accumulate (2) -
First half net profit was ahead of forecasts. Ord Minnett is encouraged by the progress on integrating Bemis and the earnings growth in flexibles.
The broker remains more cautious about the outlook for the rigids division. Accumulate rating maintained. Target is $17.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $17.00 Current Price is $15.24 Difference: $1.76
If AMC meets the Ord Minnett target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 91.11 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 98.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AMC as Neutral (3) -
First half result was slightly ahead of estimates. The company has raised the lower end of its FY20 guidance range for earnings per share, now expecting 7-10%.
This leads UBS to suspect the Bemis merger integration is running ahead of schedule and this boosts confidence in Amcor's ability to deliver on targets.
Neutral rating maintained. Target rises to $16.00 from $15.40.
Target price is $16.00 Current Price is $15.24 Difference: $0.76
If AMC meets the UBS target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $16.69, suggesting upside of 9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 67.97 cents and EPS of 89.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 93.4, implying annual growth of N/A. Current consensus DPS estimate is 69.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.3. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 75.20 cents and EPS of 98.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 8.6%. Current consensus DPS estimate is 75.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 15.0. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.80
Credit Suisse rates BAP as Outperform (1) -
Credit Suisse suspects the market was bracing for a worse outcome in the first half results. Yet net profit was consistent with forecasts.
While the company has several issues to address, the broker points out competitors are also in the same boat.
Outperform rating maintained. Target is reduced to $7.50 from $7.65.
Target price is $7.50 Current Price is $6.80 Difference: $0.7
If BAP meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $7.81, suggesting upside of 14.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 17.81 cents and EPS of 35.13 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 3.5%. Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 19.78 cents and EPS of 38.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 10.7%. Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BAP as Outperform (1) -
Bapcor's result was largely in line with expectation, highlighting resilient earnings. Sales growth was strong at 5% albeit margins were a little lower, but these are expected to improve in the second half. The store rollout is ongoing and Thailand expansion and M&A potential support the medium to longer term outlook, the broker suggests.
Earnings resilience is attractive in the current market backdrop and the broker expects the stock's -10% discount gap to market to close. Outperform retained, target rises to $8.00 from $7.70.
Target price is $8.00 Current Price is $6.80 Difference: $1.2
If BAP meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $7.81, suggesting upside of 14.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 18.50 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 3.5%. Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 21.00 cents and EPS of 40.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 10.7%. Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BAP as Overweight (1) -
Net profit in the first half beat Morgan Stanley's estimates and further growth is expected in FY20.
Price rises initiated in late December appear to have held which suggests to the broker a more rational competitive environment.
Overweight rating. Target is $8.10. Industry view: In-line.
Target price is $8.10 Current Price is $6.80 Difference: $1.3
If BAP meets the Morgan Stanley target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $7.81, suggesting upside of 14.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 22.60 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 3.5%. Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 24.70 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 10.7%. Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BAP as Add (1) -
First half results were largely in line with expectations. FY20 guidance has been maintained.
While growth has slowed from lofty heights, Morgans suspects the second half will remind the market that robust growth is still achievable and there is arguably upside risk to margins.
The broker likes the relative safe-haven status in a volatile retail sector and maintains an Add rating. Target is raised to $7.73 from $6.90.
Target price is $7.73 Current Price is $6.80 Difference: $0.93
If BAP meets the Morgans target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $7.81, suggesting upside of 14.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 18.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 3.5%. Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 20.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 10.7%. Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates BAP as Buy (1) -
First half results were mixed, with UBS noting the top-line in trade moved up a gear and operating leverage should follow in the second half.
Acquisitions drove strong growth in specialist wholesale while margins were stable in retail. The broker believes the company is well-positioned in a relatively defensive industry and retains a Buy rating and $7.70 target.
Target price is $7.70 Current Price is $6.80 Difference: $0.9
If BAP meets the UBS target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $7.81, suggesting upside of 14.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 18.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.6, implying annual growth of 3.5%. Current consensus DPS estimate is 19.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 19.00 cents and EPS of 39.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 10.7%. Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $77.34
Citi rates BKL as Neutral (3) -
Citi believes Blackmores is embarking on a risky turnaround strategy at a time when risks are elevated. The balance sheet is also considered stretched which limits the flexibility.
The broker requires evidence the new strategic initiatives are gaining traction in order to justify the PE of 45x on FY21 estimates.
Neutral maintained. The potential for corporate activity around the stock prevents the broker from having a Sell rating. Target is reduced to $78.25 from $88.00.
Target price is $78.25 Current Price is $77.34 Difference: $0.91
If BKL meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $68.88, suggesting downside of -10.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 0.00 cents and EPS of 114.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 158.3, implying annual growth of -48.8%. Current consensus DPS estimate is 89.9, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 48.9. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 121.60 cents and EPS of 173.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 240.4, implying annual growth of 51.9%. Current consensus DPS estimate is 175.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 32.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BKL as Equal-weight (3) -
Several issues, such as manufacturing complexities, a stretched balance sheet and the disruption from coronavirus add to Morgan Stanley's concerns about the stock.
First half earnings (EBIT) were well below estimates and FY20 net profit guidance of $17-21m implies Blackmores will not make a profit in the second half.
The broker maintains an Equal-weight rating. Industry view is: Cautious. Target is reduced to $66 from $71.
Target price is $66.00 Current Price is $77.34 Difference: minus $11.34 (current price is over target).
If BKL meets the Morgan Stanley target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $68.88, suggesting downside of -10.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 82.00 cents and EPS of 109.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 158.3, implying annual growth of -48.8%. Current consensus DPS estimate is 89.9, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 48.9. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 190.00 cents and EPS of 254.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 240.4, implying annual growth of 51.9%. Current consensus DPS estimate is 175.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 32.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BKL as Hold (3) -
First half net profit missed expectations and guidance. Morgans is disappointed with the downgrade to FY20 guidance, with net profit now expected to be $17-21m.
The broker reduces FY20 and FY21 estimates of net profit by -61.2% and -36.1% respectively.
The broker acknowledges forecasting accuracy is low, given the uncertainties affecting the company and until there is more detail on the strategic review in the February 25 update.
The broker maintains a Hold rating and reduces the target to $70 from $80.
Target price is $70.00 Current Price is $77.34 Difference: minus $7.34 (current price is over target).
If BKL meets the Morgans target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $68.88, suggesting downside of -10.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 0.00 cents and EPS of 107.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 158.3, implying annual growth of -48.8%. Current consensus DPS estimate is 89.9, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 48.9. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 141.00 cents and EPS of 201.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 240.4, implying annual growth of 51.9%. Current consensus DPS estimate is 175.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 32.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BKL as Hold (3) -
The company's trading update has pointed to a significant deterioration in business profitability, on the back of a number of factors. A loss is likely to be reported in the second half.
Ord Minnett believes the business still has meaningful execution risks over the next six months. The broker maintains a Hold rating and lowers the target to $72 from $80.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $72.00 Current Price is $77.34 Difference: minus $5.34 (current price is over target).
If BKL meets the Ord Minnett target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $68.88, suggesting downside of -10.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 96.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 158.3, implying annual growth of -48.8%. Current consensus DPS estimate is 89.9, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 48.9. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 216.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 240.4, implying annual growth of 51.9%. Current consensus DPS estimate is 175.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 32.2. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CAR CARSALES.COM LIMITED
Automobiles & Components
More Research Tools In Stock Analysis - click HERE
Overnight Price: $18.99
Credit Suisse rates CAR as Downgrade to Neutral from Outperform (3) -
First half results were in line with expectations. Credit Suisse believes the result should alleviate any concerns that the dealer business is being directly affected by weakness in new car sales.
New strategic initiatives appear priced in and the broker downgrades to Neutral from Outperform. Target is raised to $18.80 from $18.30.
Target price is $18.80 Current Price is $18.99 Difference: minus $0.19 (current price is over target).
If CAR meets the Credit Suisse target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.20, suggesting downside of -9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 46.30 cents and EPS of 57.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of 64.6%. Current consensus DPS estimate is 47.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 49.30 cents and EPS of 64.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 11.6%. Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CAR as Neutral (3) -
Carsales posted a solid result in line with the broker's expectation on the headline numbers. The outlook remains robust, the broker believes, underpinned by prices across both Private and Dealer. Display remains under pressure but may see some recovery in the second half.
The broker has remodelled its valuation and updated its weighted cost of capital assumptions, leading to a target price increase to $18.60 from $15.80. This is still below market so the broker sees valuation as challenging, retaining Neutral, while seeing no negative catalysts and the capacity to drive growth in the short, medium and longer terms.
Target price is $18.60 Current Price is $18.99 Difference: minus $0.39 (current price is over target).
If CAR meets the Macquarie target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.20, suggesting downside of -9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 47.40 cents and EPS of 57.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of 64.6%. Current consensus DPS estimate is 47.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 52.40 cents and EPS of 63.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 11.6%. Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates CAR as Overweight (1) -
First half results slightly beat estimates. The most important aspect of the results for Morgan Stanley is the price increase in dealer leads of 8% as this will underpin Australian growth.
The company has reiterated FY20 guidance for "solid" growth in revenue, earnings and net profit.
Overweight rating, Attractive industry view and $15.25 target maintained.
Target price is $15.25 Current Price is $18.99 Difference: minus $3.74 (current price is over target).
If CAR meets the Morgan Stanley target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.20, suggesting downside of -9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 EPS of 60.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of 64.6%. Current consensus DPS estimate is 47.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 EPS of 64.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 11.6%. Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CAR as Downgrade to Hold from Accumulate (3) -
First half results were in line with expectations and Ord Minnett believes Carsales.com has shown, once again, relative resilience in its core advertising segment.
International businesses were also up strongly. The broker assesses the valuation is full and downgrades to Hold from Accumulate. Target is raised to $18.98 from $16.54.
Target price is $18.98 Current Price is $18.99 Difference: minus $0.01 (current price is over target).
If CAR meets the Ord Minnett target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.20, suggesting downside of -9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 48.90 cents and EPS of 56.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of 64.6%. Current consensus DPS estimate is 47.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 55.40 cents and EPS of 65.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 11.6%. Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CAR as Downgrade to Sell from Neutral (5) -
The company had a tough first half but UBS believes there are signs of improvement in top-line growth rates from the second half. The broker's estimates already factor in this improvement.
Confidence in management leads UBS to factor in greater long-term upside from initiatives, but the target is still well in arrears of the current price and the rating is downgraded to Sell from Neutral. Target is raised to $17.50 from $15.00.
Target price is $17.50 Current Price is $18.99 Difference: minus $1.49 (current price is over target).
If CAR meets the UBS target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.20, suggesting downside of -9.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 49.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of 64.6%. Current consensus DPS estimate is 47.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 55.00 cents and EPS of 64.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 11.6%. Current consensus DPS estimate is 52.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $88.53
Citi rates CBA as Sell (5) -
First half cash earnings were ahead of expectations. This was enhanced by a surprisingly strong CET1 ratio of 11.7%. The bank has acknowledged it is considering capital management.
While capital management may protect the dividend at current levels, Citi believes earnings per share will still decline in the short term and investors are overpaying for certainty on capital. Sell rating and $72.50 target maintained.
Target price is $72.50 Current Price is $88.53 Difference: minus $16.03 (current price is over target).
If CBA meets the Citi target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 431.00 cents and EPS of 479.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 431.00 cents and EPS of 475.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates CBA as Underperform (5) -
Cash earnings in the first half were ahead of estimates. Credit Suisse did not find this a spectacular set of numbers, as income was flat and expenses and impairments were signalling a -4.3% drop in underlying cash net profit.
The saving grace is the healthy capital position and the broker now expects a buyback of $4bn in FY21. Underperform rating and $77.60 target maintained.
Target price is $77.60 Current Price is $88.53 Difference: minus $10.93 (current price is over target).
If CBA meets the Credit Suisse target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 431.00 cents and EPS of 482.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 431.00 cents and EPS of 516.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CBA as Underperform (5) -
The broker has responded to the Commonwealth bank result with a series of charts. It is unclear how the result stacked up against forecasts. Macquarie acknowledges a beat on net interest margin but expects margins to moderate given deposit rate headwinds from a lower RBA cash rate. Expenses continued to rise despite the bank guiding to lower expenses this time last year.
The positive is a capital position strong enough to support capital management initiatives. Target falls to $72.50 from $75.00 on downgraded earnings forecasts. Underperform retained. Looks rather like a "miss".
Target price is $72.50 Current Price is $88.53 Difference: minus $16.03 (current price is over target).
If CBA meets the Macquarie target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 431.00 cents and EPS of 465.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 403.00 cents and EPS of 471.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates CBA as Underweight (5) -
First half results exceeded Morgan Stanley's estimates, primarily because of better margin outcomes. The broker expects revenue growth of 1% in FY20 and 2% in FY21, although this is better than the other major banks.
In order to meet the broker's forecasts, Commonwealth Bank will need an ongoing tailwind from deposit pricing, business loans and consumer finance amid reduced reliance on wholesale funding.
The stock is considered too expensive and an Underweight rating is maintained. Target is raised to $75.50 from $72.50. Industry view: In-Line.
Target price is $75.50 Current Price is $88.53 Difference: minus $13.03 (current price is over target).
If CBA meets the Morgan Stanley target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 431.00 cents and EPS of 491.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 431.00 cents and EPS of 507.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CBA as Downgrade to Reduce from Hold (5) -
First half net profit was better than Morgans expected, largely because of strong net interest income.
The broker expects an off-market share buyback of $2.5bn will be announced in the first half of FY21.
Morgans believes the home loan momentum is partly the result of good execution and places the bank in good stead.
Despite believing this is a good quality business, the current share price is considered expensive and the broker downgrades to Reduce from Hold. Target is $74.
Target price is $74.00 Current Price is $88.53 Difference: minus $14.53 (current price is over target).
If CBA meets the Morgans target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 431.00 cents and EPS of 506.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 431.00 cents and EPS of 539.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CBA as Hold (3) -
First half results were slightly better than Ord Minnett expected. The main positive in the results was the strong capital position, although the broker suspects the bank will wait for other asset sales to be completed before announcing the scale of any capital management.
Despite the more resilient margin trends, the broker finds current valuation metrics hard to justify and retains a Hold rating. Target is raised to $78.20 from $74.80.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $78.20 Current Price is $88.53 Difference: minus $10.33 (current price is over target).
If CBA meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 431.00 cents and EPS of 481.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 431.00 cents and EPS of 503.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CBA as Sell (5) -
UBS upgrades estimates for earnings per share by 2% for FY20 and 1% for FY21. Net interest margin pressure is offsetting the higher starting point post the first half result and the expectations of a larger buyback.
The broker expects a $5bn of market buyback, most likely around June or July this year. However, no developed market bank is worth the current PE of 18.6x and UBS retains a Sell rating. Target is raised to $75 from $70.
Target price is $75.00 Current Price is $88.53 Difference: minus $13.53 (current price is over target).
If CBA meets the UBS target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $75.04, suggesting downside of -15.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 431.00 cents and EPS of 471.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 482.1, implying annual growth of -0.7%. Current consensus DPS estimate is 431.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.4. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 372.00 cents and EPS of 459.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 495.8, implying annual growth of 2.8%. Current consensus DPS estimate is 418.6, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNI CENTURIA CAPITAL GROUP
Diversified Financials
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Overnight Price: $2.71
Ord Minnett rates CNI as Upgrade to Accumulate from Hold (2) -
First half earnings were 40% above Ord Minnett's forecasts. The result ticked many boxes in terms of fund manager performance.
The broker incorporates the proposed acquisition of Augusta Capital for $175m. Ord Minnett believes New Zealand is an attractive market and the target has relatively strong growth prospects.
Rating is upgraded to Accumulate from Hold and the target is lifted to $2.75 from $2.00.
Target price is $2.75 Current Price is $2.71 Difference: $0.04
If CNI meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 10.00 cents and EPS of 13.00 cents. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 10.00 cents and EPS of 20.00 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $17.49
Citi rates CPU as Neutral (3) -
Citi notes management appears strongly focused on value extraction, although a margin income headwind is likely in FY21 as the impact of reduced interest rates flows through and hedging rolls off.
Mortgage servicing is now around 30% of the business. Citi considers the trading multiple fair and retains a Neutral rating. Target is raised to $19.20 from $18.30.
Target price is $19.20 Current Price is $17.49 Difference: $1.71
If CPU meets the Citi target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 45.99 cents and EPS of 96.31 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 46.42 cents and EPS of 101.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
Credit Suisse rates CPU as Upgrade to Outperform from Neutral (1) -
First half results missed expectations although guidance implies a stronger second half. Credit Suisse expects 10% growth in FY21-22.
The company should benefit from cost reductions and the Equatex synergies.
Rating is upgraded to Outperform from Neutral as the broker believes the stock offers good value and there is a track record of delivering on guidance. Target is raised to $19.40 from $16.50.
Target price is $19.40 Current Price is $17.49 Difference: $1.91
If CPU meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 69.41 cents and EPS of 95.01 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 78.09 cents and EPS of 106.35 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
Macquarie rates CPU as Underperform (5) -
Computershare's result was -5% below expectation due to a higher tax rate. Management nevertheless left full year guidance unchanged. This is implies a 45/55 skew is needed to get there and the broker considers the 30% earnings growth required in the second half, irrespective of seasonality, is a stretch.
Given material headwinds, the tailwinds outlined by management will all need to come through, the broker warns. Underperform retained. Target rises to $16.25 from $15.00 on an upgrade to relative PE assumptions.
Target price is $16.25 Current Price is $17.49 Difference: minus $1.24 (current price is over target).
If CPU meets the Macquarie target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 48.59 cents and EPS of 92.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 50.33 cents and EPS of 106.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
Morgan Stanley rates CPU as Underweight (5) -
Exposure to a strong US economy is protecting the company's FY20 earnings but Morgan Stanley believes the current valuation more than captures the US tailwinds. First half US revenues were up 8%.
The broker finds it unclear whether unchanged FY20 guidance provides room for error. Underweight maintained. Target is $14. Industry view is In-Line.
Target price is $14.00 Current Price is $17.49 Difference: minus $3.49 (current price is over target).
If CPU meets the Morgan Stanley target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 72.31 cents and EPS of 95.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 69.41 cents and EPS of 99.06 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
Morgans rates CPU as Hold (3) -
First half net profit was in line with expectations. The main theme Morgans notes were softer transaction activity, particularly in issuer services, that were offset by solid growth in mortgage servicing and employee share plans.
While this is a quality franchise, the broker believes the company will have to work hard to achieve guidance for the full year. Hold rating maintained. Target slips to $17.51 from $17.52.
Target price is $17.51 Current Price is $17.49 Difference: $0.02
If CPU meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 70.28 cents and EPS of 96.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 71.15 cents and EPS of 103.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
Ord Minnett rates CPU as Downgrade to Lighten from Hold (4) -
First half net profit was below expectations. Ord Minnett notes significant pressure on management earnings in the first half, making it difficult to have confidence in the revised guidance.
Substantial capital has been deployed into mortgage servicing rights to boost earnings, although gearing is now elevated. This forces the broker to remove the buyback from estimates.
Rating is downgraded to Lighten from Hold. Target is steady at $16.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $16.00 Current Price is $17.49 Difference: minus $1.49 (current price is over target).
If CPU meets the Ord Minnett target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 46.28 cents and EPS of 89.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 44.83 cents and EPS of 92.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
UBS rates CPU as Neutral (3) -
First half net profit was below expectations. With US interest-rate reductions playing out more rapidly than expected, margin income is expected to fall -8-10% versus previous guidance for a flat outcome.
Meanwhile, UBS notes corporate actions have remained depressed. The broker assesses medium-term growth is largely reliant on cost reductions and retains a Neutral rating. Target is $17.50.
Target price is $17.50 Current Price is $17.49 Difference: $0.01
If CPU meets the UBS target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $17.12, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 75.20 cents and EPS of 98.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 97.3, implying annual growth of N/A. Current consensus DPS estimate is 74.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.0. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 78.09 cents and EPS of 105.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 105.0, implying annual growth of 7.9%. Current consensus DPS estimate is 77.3, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.7. |
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
CQE CHARTER HALL SOCIAL INFRASTRUCTURE REIT
Childcare
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Overnight Price: $3.58
Ord Minnett rates CQE as Accumulate (2) -
First half earnings were ahead of estimates. Ord Minnett likes the portfolio, strong tenant retention prospects and the ability to fund growth through debt.
Accumulate rating maintained. Target rises to $3.70 from $3.65.
Target price is $3.70 Current Price is $3.58 Difference: $0.12
If CQE meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 17.00 cents and EPS of 17.00 cents. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 17.00 cents and EPS of 18.00 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences
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Overnight Price: $329.87
Citi rates CSL as Neutral (3) -
Citi found the first half results excellent, reflecting positive plasma market dynamics and the expansion of collection and fractionation.
CSL has been able to increase market share across its major product categories as a result of historical investments.
Citi expects this to result in 20% underlying net profit growth in FY20. Neutral rating maintained. Target rises to $331 from $282.60.
Target price is $331.60 Current Price is $329.87 Difference: $1.73
If CSL meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 295.01 cents and EPS of 667.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 351.41 cents and EPS of 821.98 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
Credit Suisse rates CSL as Outperform (1) -
First half net profit was slightly below expectations, driven by higher costs. Nevertheless, strength in immunoglobulin sales and the upgrade to guidance signals the company's ability to earn significant returns on its investment, Credit Suisse asserts.
Outperform rating maintained. Target rises to $350 from $320. The broker believes the valuation is justified, given a strong market position in a niche industry with robust fundamentals.
Target price is $350.00 Current Price is $329.87 Difference: $20.13
If CSL meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 308.03 cents and EPS of 665.22 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 383.23 cents and EPS of 828.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
Macquarie rates CSL as Downgrade to Neutral from Outperform (3) -
CSL's underlying profit was in line with consensus. Strength in Ig continues given robust demand and competitor shortages and albumin performed ahead of expectation, Macquarie notes. Operating leverage was nonetheless limited, with earnings growing 8% on 11% revenues growth.
CSL is maintaining its competitive advantage in plasma collection and the trajectory for other key products appears favourable, the broker suggests. But at 43.2x forward earnings, it's all in the price. Downgrade to Neutral from Outperform. Target rises to $324 from $300.
Target price is $324.00 Current Price is $329.87 Difference: minus $5.87 (current price is over target).
If CSL meets the Macquarie target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 297.90 cents and EPS of 660.88 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 354.30 cents and EPS of 786.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
Morgan Stanley rates CSL as Overweight (1) -
First half immunoglobulin earnings were ahead of estimates. Unless the dynamics in the immunoglobulin market change, Morgan Stanley envisages CSL will continue to trade above its base case.
The broker had upgraded expectations for the first half result on the back of accelerating growth in immunoglobulin, on top of a superior market position. The broker notes 3% upgrade to FY20 guidance meets its forecasts.
Target is $306. Overweight rating and an In-Line sector view retained.
Target price is $306.00 Current Price is $329.87 Difference: minus $23.87 (current price is over target).
If CSL meets the Morgan Stanley target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 302.10 cents and EPS of 684.02 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 334.35 cents and EPS of 770.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
Morgans rates CSL as Hold (3) -
First half results were better than Morgans expected. Immunoglobulin growth continues to impress and Seqirus sales were robust.
Earnings should continue to benefit from a tight plasma market. Morgans increases FY20-22 net profit estimates by up to 4.2%.
Hold rating maintained. Target rises to $303.10 from $220.30 as valuation multiples are rolled forward and the risk-free rate is lowered to better reflect current market conditions..
Target price is $303.10 Current Price is $329.87 Difference: minus $26.77 (current price is over target).
If CSL meets the Morgans target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 286.33 cents and EPS of 685.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 316.70 cents and EPS of 754.88 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
Ord Minnett rates CSL as Hold (3) -
First half net profit was broadly in line with Ord Minnett's forecasts. With few near-term challenges, the broker expects double-digit earnings growth will continue into FY21.
However, Ord Minnett is wary that the current valuation makes little allowance for potential challenges on the horizon from new therapies that could slow immunoglobulin demand.
Hold rating maintained. Target rises to $305 from $285.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $305.00 Current Price is $329.87 Difference: minus $24.87 (current price is over target).
If CSL meets the Ord Minnett target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 720.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 822.85 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
UBS rates CSL as Buy (1) -
First half results were below estimates, largely because of the timing of costs. Still, UBS notes a favourable contribution from the move to direct distribution of albumin in China.
Net profit is now guided for growth of 10-13% in FY20. UBS forecasts 14%. The broker raises the target to $365 from $295 and maintains a Buy rating.
Target price is $365.00 Current Price is $329.87 Difference: $35.13
If CSL meets the UBS target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $326.39, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 309.47 cents and EPS of 675.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 698.2, implying annual growth of N/A. Current consensus DPS estimate is 307.9, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 47.2. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 380.33 cents and EPS of 819.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 822.3, implying annual growth of 17.8%. Current consensus DPS estimate is 362.9, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 40.1. |
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
DMP DOMINO'S PIZZA ENTERPRISES LIMITED
Food, Beverages & Tobacco
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Overnight Price: $57.85
Credit Suisse rates DMP as Neutral (3) -
As store numbers are now disclosed on the website, one of the elements of uncertainty heading into the result is removed.
Credit Suisse finds some modest risk to the near-term outlook, given January and February could be affected by the impact of Australian bushfires and the coronavirus.
The broker increases the target to $53.77 from $38.52 after upgrading multiples applied to the valuation. Neutral rating maintained.
Target price is $53.77 Current Price is $57.85 Difference: minus $4.08 (current price is over target).
If DMP meets the Credit Suisse target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $46.14, suggesting downside of -20.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 134.00 cents and EPS of 191.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 182.0, implying annual growth of 34.3%. Current consensus DPS estimate is 128.9, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 31.8. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 147.00 cents and EPS of 209.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 202.0, implying annual growth of 11.0%. Current consensus DPS estimate is 143.8, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 28.6. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.93
Citi rates DOW as Buy (1) -
In assessing the pros and cons of the bear and bull cases, Citi believes investors are compensated for the risks and the potential upside is compelling.
The broker retains a Buy rating and $8 target.
Target price is $8.00 Current Price is $6.93 Difference: $1.07
If DOW meets the Citi target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $7.62, suggesting upside of 10.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 25.90 cents and EPS of 37.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.1, implying annual growth of -4.2%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 32.40 cents and EPS of 44.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of 20.7%. Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates DOW as Underperform (5) -
First half results were weaker than expected. Credit Suisse notes underperformance on construction-type activities and the fact that management intends to cut back bidding activity in a number of sectors.
This is likely to reduce revenue growth in future years. Bids for the mining business and indicative bids for the laundries business have been received.
While management is considering a de-merger of the mining business, the broker finds the rationale is not clear.
Underperform rating maintained. Target is reduced to $6.80 from $7.00.
Target price is $6.80 Current Price is $6.93 Difference: minus $0.13 (current price is over target).
If DOW meets the Credit Suisse target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.62, suggesting upside of 10.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 25.75 cents and EPS of 37.58 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.1, implying annual growth of -4.2%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 29.93 cents and EPS of 43.68 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of 20.7%. Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates DOW as Outperform (1) -
Downer EDI's result was weak but this had already been well flagged. The interim dividend was left unchanged which the broker sees as a positive signal that management sees its Engineering, Construction & Maintenance division issues as transitory.
The focus now, the broker suggests, is on asset sales and improved project execution as Downer moves away from higher risk EC&M projects, reducing earnings volatility, while shifting focus to the more consistent Urban Services business. Outperform retained, target rises to $7.93 from $7.88.
Target price is $7.93 Current Price is $6.93 Difference: $1
If DOW meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $7.62, suggesting upside of 10.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 28.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.1, implying annual growth of -4.2%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 30.00 cents and EPS of 52.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of 20.7%. Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates DOW as Downgrade to Hold from Accumulate (3) -
The weak result missed Ord Minnett's estimates by -20%. The company has reiterated net profit guidance for FY20 of around $300m, which means earnings will be much more weighted to the second half than previously expected.
Ord Minnett downgrades to Hold from Accumulate, noting the company is battling to turn around its operations on a number of fronts. Target is reduced to $7.70 from $8.90.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $7.70 Current Price is $6.93 Difference: $0.77
If DOW meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $7.62, suggesting upside of 10.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.1, implying annual growth of -4.2%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of 20.7%. Current consensus DPS estimate is 31.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $8.06
Morgan Stanley rates ELO as Overweight (1) -
The company has reiterated guidance in the first half result. Morgan Stanley expects the stock to trade according to sales growth.
The broker now factors in higher customer growth but lower revenue per customer as the company expands into the lower mid-market.
Overweight rating. In-Line industry view. Target is $9.
Target price is $9.00 Current Price is $8.06 Difference: $0.94
If ELO meets the Morgan Stanley target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 20.00 cents. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 EPS of minus 19.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.06
Credit Suisse rates EVN as Outperform (1) -
First half results were in line with expectations. Credit Suisse notes the second half is set to be even stronger on measures that count most, such as margin and cash flow.
Shareholders will also be the beneficiaries of an unchanged policy for a 50% payout of free cash flow which will exclude Red Lake.
Outperform rating and $4.30 target maintained.
Target price is $4.30 Current Price is $4.06 Difference: $0.24
If EVN meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.10, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 14.46 cents and EPS of 21.49 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.0, implying annual growth of 55.5%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 11.08 cents and EPS of 22.45 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.3, implying annual growth of 21.5%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates EVN as Equal-weight (3) -
First half earnings were in line with expectations and operating cash flow was stronger than expected. This has led to a higher interim dividend payment. Morgan Stanley considers the stock fairly valued.
Equal-weight rating maintained. Target is $3.90. Industry view: In-Line.
Target price is $3.90 Current Price is $4.06 Difference: minus $0.16 (current price is over target).
If EVN meets the Morgan Stanley target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.10, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 14.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.0, implying annual growth of 55.5%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 15.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.3, implying annual growth of 21.5%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates EVN as Hold (3) -
Evolution Mining has doubled its interim dividend to 7.0c per share resulting from a strong financial performance in the first half.
First half net profit was up 62% and operating earnings (EBITDA) up 23%.
Morgans maintains a Hold rating and $4.08 target, awaiting further information regarding the Red Lake acquisition.
Target price is $4.08 Current Price is $4.06 Difference: $0.02
If EVN meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $4.10, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 14.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.0, implying annual growth of 55.5%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 14.00 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.3, implying annual growth of 21.5%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates EVN as Hold (3) -
First half earnings were below Ord Minnett's expectations because of higher exploration expenses in corporate costs.
The company has also downgraded the Mount Carlton operation and upgraded the Cowal underground mine.
Hold rating maintained. Target is reduced to $3.60 from $3.90.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.60 Current Price is $4.06 Difference: minus $0.46 (current price is over target).
If EVN meets the Ord Minnett target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.10, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.0, implying annual growth of 55.5%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.3, implying annual growth of 21.5%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates EVN as Upgrade to Buy from Neutral (1) -
The share price has fallen -6% since November and underperformed the Australian dollar gold price and the S&P/ASX gold index.
However, the pessimism on several fronts is now priced into the stock, UBS suggests, and optimism is warranted regarding the expanding Cowal underground.
The broker considers the valuation attractive and upgrades to Buy from Neutral. Target is raised to $4.60 from $4.25.
Target price is $4.60 Current Price is $4.06 Difference: $0.54
If EVN meets the UBS target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.10, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 13.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.0, implying annual growth of 55.5%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 12.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.3, implying annual growth of 21.5%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.77
Citi rates IAG as Buy (1) -
Citi lowers estimates for earnings per share in FY20 by -15% and FY21 by -7%.
The stock appears to be a better value proposition than in much of the recent past, in the broker's view, and a capital return may be in the offing.
Citi retains a Buy rating and reduces the target to $7.70 from $8.40.
Target price is $7.70 Current Price is $6.77 Difference: $0.93
If IAG meets the Citi target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 25.00 cents and EPS of 29.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 32.00 cents and EPS of 37.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates IAG as Neutral (3) -
The first half result was pre-announced but further downgrades have occurred for insurance margin guidance, to 12.5-14.5% over FY20.
While recent weakness in the share price makes it tempting to enter a quality company at a discount, Credit Suisse assesses the ramifications of recent weather events will flow through to FY21.
Moreover, the underlying margin appears to be settling, or peaking, at a lower level than previously assumed. Neutral rating maintained. Target is reduced to $7.30 from $7.65.
Target price is $7.30 Current Price is $6.77 Difference: $0.53
If IAG meets the Credit Suisse target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 23.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 30.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates IAG as Underperform (5) -
The broker's response to Insurance Australia Group's report is to highlight a further -200 basis point downgrade to insurance margin guidance only three weeks after a -150bp reduction. The dividend was below expectation, although a stronger final dividend should provide more confidence, the broker suggests.
That said, lower reserve releases, to counter perils, a weaker economic environment and softer investment outlook all keep the broker on Undeperform. Target unchanged at $6.80.
Target price is $6.80 Current Price is $6.77 Difference: $0.03
If IAG meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 23.00 cents and EPS of 25.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 32.00 cents and EPS of 37.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates IAG as Equal-weight (3) -
Morgan Stanley downgrades FY20 estimates for cash earnings per share by -10% to reflect higher second half catastrophe costs.
The broker believes the emphasis needs to switch to restoring volume growth as personal lines have now stalled. Underlying margins are expected to be flat in the second half.
The broker considers the valuation full and maintains an Equal-weight rating. Target is $7.90. Industry view: In Line.
Target price is $7.90 Current Price is $6.77 Difference: $1.13
If IAG meets the Morgan Stanley target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 26.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 32.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates IAG as Hold (3) -
First half results had been largely pre-reported, Morgans points out. FY20 insurance margin guidance has been revised down for the second time in two months on bad weather.
The broker found the first half performance largely stable but downgrades estimates for earnings per share in FY20 and FY21 by -9% and -1% respectively, reflecting higher hazard claims.
Hold rating maintained. Target is reduced to $6.91 from $7.11.
Target price is $6.91 Current Price is $6.77 Difference: $0.14
If IAG meets the Morgans target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 24.50 cents and EPS of 32.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 32.80 cents and EPS of 39.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IAG as Hold (3) -
First half results matched recent guidance. However, the insurance margin guidance has been downgraded again for FY20 to a range of 12.5-14.5%.
Ord Minnett envisages margins have now peaked, although does not envisage any sharp fall in margins as was the case for rival Suncorp ((SUN)).
Hold rating maintained. Target rises to $6.94 from $6.84.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $6.94 Current Price is $6.77 Difference: $0.17
If IAG meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 21.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 28.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IAG as Neutral (3) -
First half cash net profit missed estimates. The FY20 outlook has been significantly affected by elevated catastrophe costs and the underlying growth potential has slowed significantly, UBS observes.
The broker believes the trends could constrain profit growth to the low single digits in FY21. As such, although the stock's value appeal has improved considerably, a Neutral rating is maintained. Target is reduced to $7.25 from $7.65.
Target price is $7.25 Current Price is $6.77 Difference: $0.48
If IAG meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $7.26, suggesting upside of 7.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 24.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of -14.3%. Current consensus DPS estimate is 23.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 31.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.4, implying annual growth of 19.6%. Current consensus DPS estimate is 31.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $22.90
Macquarie rates IEL as Outperform (1) -
IDP Education's 9% earnings growth was well ahead of the broker's forecast. Virus impact has been declared immaterial although the broker warns unpredictability may yet lead to share price volatility, but the company's diversification strategy is proving its worth. Otherwise, the transformation to digital is rewarding investors.
IDP has now passed peak earnings for FY20 but the broker is looking through cyclical impacts to the structural fundamentals supporting an outstanding first half. Outperform retained, target rises to $23.30 from $19.20.
Target price is $23.30 Current Price is $22.90 Difference: $0.4
If IEL meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $22.61, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 25.40 cents and EPS of 36.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 37.5%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.4. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 32.70 cents and EPS of 43.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 26.9%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 50.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates IEL as Overweight (1) -
First half results beat expectations. Morgan Stanley observes the company is clearly winning share in all of its divisions and there is scope to expand the offer to both students and universities.
The main feature of the results was evidence the company is widening the gap to competitors through its technology and scale.
Target is raised to $24.00 from $21.50. Overweight rating reiterated. Industry view is In-Line.
Target price is $24.00 Current Price is $22.90 Difference: $1.1
If IEL meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $22.61, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 27.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 37.5%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.4. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 37.30 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 26.9%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 50.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates IEL as Add (1) -
First half results were significantly ahead of forecasts. Morgans notes student placements are accelerating.
Despite the potential impact of coronavirus, Morgans does not envisage any meaningful downside to FY20 forecast at this stage, although a prolonged impact cannot be ruled out.
No guidance was provided. The broker forecasts FY20 operating earnings (EBITDA) growth of 34%. Add rating maintained. Target rises to $24.49 from $19.56.
Target price is $24.49 Current Price is $22.90 Difference: $1.59
If IEL meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $22.61, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 27.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 37.5%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.4. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 33.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 26.9%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 50.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IEL as Upgrade to Accumulate from Hold (2) -
First half operating earnings (EBITDA) beat Ord Minnett estimates. The broker believes the company's lead in innovation is paying dividends.
Despite the lofty valuation, Ord Minnett asserts investors cannot ignore the quality of the business and upgrades to Accumulate from Hold. Target is raised to $22.34 from $16.23.
Target price is $22.34 Current Price is $22.90 Difference: minus $0.56 (current price is over target).
If IEL meets the Ord Minnett target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $22.61, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 26.70 cents and EPS of 35.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 37.5%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.4. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 32.80 cents and EPS of 45.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 26.9%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 50.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IEL as Sell (5) -
First half results substantially beat expectations. UBS observes the digital transformation strategy is driving momentum and gains in market share.
Nevertheless, the broker struggles with valuation and retains a Sell rating. Target is raised to $18.90 from $15.20.
Target price is $18.90 Current Price is $22.90 Difference: minus $4 (current price is over target).
If IEL meets the UBS target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $22.61, suggesting downside of -1.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 26.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 37.5%. Current consensus DPS estimate is 26.4, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.4. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 33.00 cents and EPS of 46.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.8, implying annual growth of 26.9%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 50.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHX JAMES HARDIE INDUSTRIES N.V.
Building Products & Services
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Overnight Price: $30.46
Credit Suisse rates JHX as Outperform (1) -
The third quarter revealed strong North American volumes with all signs suggesting this will continue.
Credit Suisse believes the stumble in Europe raises the likelihood of missing FY22 targets, but this should not overshadow a business which has exceeded expectations since acquisition.
Credit Suisse increases net profit forecasts by 6% for FY21. Outperform rating maintained. Target rises to $33.50 from $29.45.
Target price is $33.50 Current Price is $30.46 Difference: $3.04
If JHX meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $35.00, suggesting upside of 14.9% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 62.18 cents and EPS of 116.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 120.6, implying annual growth of N/A. Current consensus DPS estimate is 64.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 25.3. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 86.77 cents and EPS of 145.22 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 142.3, implying annual growth of 18.0%. Current consensus DPS estimate is 84.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates JHX as Outperform (1) -
James Hardie's third quarter profit fell short of expectation on stock compensation costs but operationally it was a beat. The core North American result was strong on 11% growth and the company has lifted its FY20 US housing start forecast. Europe was nevertheless challenged, the broker notes, by market contraction, higher freight costs and competition.
Guidance has been tightened to the top end and the broker highlights execution-driven growth, innovation and rapidly improving efficiency. The stock still trades at one standard deviation below the ASX200 Industrials PE. Outperform retained, target rises to $35.60 from $32.40.
Target price is $35.60 Current Price is $30.46 Difference: $5.14
If JHX meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $35.00, suggesting upside of 14.9% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 59.29 cents and EPS of 117.28 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 120.6, implying annual growth of N/A. Current consensus DPS estimate is 64.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 25.3. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 85.32 cents and EPS of 141.58 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 142.3, implying annual growth of 18.0%. Current consensus DPS estimate is 84.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates JHX as Buy (1) -
Primary demand growth in the third quarter was ahead of UBS estimates. A rebound in home building and dry weather contributed to the beat.
The broker assesses the company is growing quickly, leading to increased corporate costs and R&D expenditure.
This is acting as a small drag but should support robust growth in the longer term. Buy rating maintained. Target is $36.
Target price is $36.00 Current Price is $30.46 Difference: $5.54
If JHX meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $35.00, suggesting upside of 14.9% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 62.18 cents and EPS of 117.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 120.6, implying annual growth of N/A. Current consensus DPS estimate is 64.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 25.3. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 91.11 cents and EPS of 133.04 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 142.3, implying annual growth of 18.0%. Current consensus DPS estimate is 84.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $18.36
Macquarie rates MIN as Outperform (1) -
Mineral Resources' underlying earnings beat the broker by 20%, exceeding in both Mining and Mining Services. FY20 guidance has been left unchanged but the broker's forecast is now 18% higher on the assumption Mining Services maintains its first half growth rate.
An increased contribution from Koolyanobbing should improve iron ore earnings, which benefits from higher realised prices than those at Iron Valley, the broker notes. Outperform retained, target rises to $20.30 from $20.00.
Target price is $20.30 Current Price is $18.36 Difference: $1.94
If MIN meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $17.90, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 83.00 cents and EPS of 188.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 187.7, implying annual growth of 115.7%. Current consensus DPS estimate is 83.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 82.00 cents and EPS of 181.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 179.3, implying annual growth of -4.5%. Current consensus DPS estimate is 82.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 10.2. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MIN as Overweight (1) -
Operating earnings (EBITDA) were weaker than Morgan Stanley expected in the first half. Mining services performed strongly and tracked ahead of guidance.
Koolyanobbing is now expected to reach 15mtpa by the end of 2020. Overweight rating. Target is $17.20. Industry view: In-Line.
Target price is $17.20 Current Price is $18.36 Difference: minus $1.16 (current price is over target).
If MIN meets the Morgan Stanley target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.90, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 EPS of 203.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 187.7, implying annual growth of 115.7%. Current consensus DPS estimate is 83.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 EPS of 122.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 179.3, implying annual growth of -4.5%. Current consensus DPS estimate is 82.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 10.2. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MIN as Hold (3) -
First half operating earnings (EBITDA) were ahead of expectations. While guidance and capital expenditure are unchanged, Ord Minnett raises estimates given the strong start to the year.
Koolyanobbing production forecasts are raised by 10% for the second half. Hold rating maintained. Target is raised to $16.20 from $14.80.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $16.20 Current Price is $18.36 Difference: minus $2.16 (current price is over target).
If MIN meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.90, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 172.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 187.7, implying annual growth of 115.7%. Current consensus DPS estimate is 83.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 235.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 179.3, implying annual growth of -4.5%. Current consensus DPS estimate is 82.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 10.2. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $11.69
Morgans rates MP1 as Add (1) -
First half results were in line with forecasts. Morgans reduces earnings (EBITDA) forecasts by -5% following a more detailed review of estimates.
An Add rating is maintained and key catalysts relate to the possibility of Megaport's inclusion in the ASX 200 index.
The target is raised to $12.94 from $11.38.
Target price is $12.94 Current Price is $11.69 Difference: $1.25
If MP1 meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $11.93, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -24.4, 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 FY21:
Morgans forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -16.8, 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: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MP1 as Hold (3) -
First half results were strong, Ord Minnett observes, with monthly recurring revenue up 69%. There were encouraging signs of operating leverage in the Asia-Pacific region.
Despite the solid result, the broker notes the stock is trading broadly in line with the new target, reduced to $11.10 from $11.30. Hold maintained.
Target price is $11.10 Current Price is $11.69 Difference: minus $0.59 (current price is over target).
If MP1 meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $11.93, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of minus 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -24.4, 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 FY21:
Ord Minnett forecasts a full year FY21 EPS of minus 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -16.8, 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: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MP1 as Neutral (3) -
First half results were in line with UBS estimates. The broker is not overly concerned with the seasonality that affected the December quarter.
Nevertheless, the share price has run up strongly and UBS wants signs of improvement in momentum around the top line before becoming more positive. Neutral rating and $11.75 target maintained.
Target price is $11.75 Current Price is $11.69 Difference: $0.06
If MP1 meets the UBS target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $11.93, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 22.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -24.4, 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 FY21:
UBS forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 11.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -16.8, 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: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $26.43
UBS rates NAB as Sell (5) -
On initial assessment of NAB's trading update, released earlier today, UBS analysts found it a positive announcement, but they also believe the new CEO is preparing a fresh strategy. Investors should expect a more detailed announcement to be made when the interim report is released on 7th May, they predict.
Q2 delivered lots of positives, though UBS does predict credit impairment charges cannot stay this low. The bank is thinking about converting hybrids in order to strengthen its capital position, point out the analysts, plus separation of MLC Wealth is likely to take longer.
Regarding the upcoming interim report plus update on strategy: UBS suspects the freshly updated strategy will require more investments, and thus another capital raising could be on the cards. The analysts do not exclude a restructuring provision may also be required.
Target price is $25.00 Current Price is $26.43 Difference: minus $1.43 (current price is over target).
If NAB meets the UBS target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $27.16, suggesting upside of 2.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY20:
UBS forecasts a full year FY20 EPS of 198.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 200.4, implying annual growth of 12.0%. Current consensus DPS estimate is 163.3, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 13.2. |
Forecast for FY21:
UBS forecasts a full year FY21 EPS of 184.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 205.5, implying annual growth of 2.5%. Current consensus DPS estimate is 163.3, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 12.9. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.94
Citi rates ORA as Neutral (3) -
Citi was unimpressed with the first half. While the Australasian beverage business was resilient, profits at the North American operations fell sharply.
Regulatory approvals for the sale of the Australasian fibre business are expected to occur during the March quarter. Orora has indicated it will return around $1.2bn to shareholders.
Hence, Citi believes the risk/reward is even and retains a Neutral rating. Target is reduced to $3.00 from $3.20.
Target price is $3.00 Current Price is $2.94 Difference: $0.06
If ORA meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.17, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 11.50 cents and EPS of 15.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.7, implying annual growth of 9.7%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 12.50 cents and EPS of 16.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.5, implying annual growth of 19.0%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ORA as No Rating (-1) -
Orora's result missed the broker's forecast and the outlook is for market conditions to remain challenging for the rest of FY20.
The broker is currently restricted from making a recommendation.
Current Price is $2.94. Target price not assessed.
Current consensus price target is $3.17, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 13.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.7, implying annual growth of 9.7%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 13.00 cents and EPS of 16.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.5, implying annual growth of 19.0%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ORA as Equal-weight (3) -
Morgan Stanley observes US woes continue and, while this is disappointing, capital management could play out more quickly than previously anticipated. These factors offset each other, in the broker's view.
Australasia delivered modest growth with can volumes performing well and glass volumes flat. Equal-weight. Target is $3.30. Sector view is Cautious.
Target price is $3.30 Current Price is $2.94 Difference: $0.36
If ORA meets the Morgan Stanley target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $3.17, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 13.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.7, implying annual growth of 9.7%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 14.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.5, implying annual growth of 19.0%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates ORA as Downgrade to Hold from Add (3) -
First half results were weaker than expected. Morgans removes fibre from earnings forecasts which reduces FY20 underlying earnings (EBIT) estimates by -26%.
The sale of the fibre business is due to be completed by the end of March. Management expects challenging market conditions to persist for the remainder of FY20.
Morgans believes, while the valuation is attractive, ongoing weakness in North America is a concern.
Unless the company can deliver stable earnings, the share price is considered unlikely to track materially higher, although the prospect of a capital return limits downside risk.
Rating is downgraded to Hold from Add. Target is reduced to $3.15 from $3.34.
Target price is $3.15 Current Price is $2.94 Difference: $0.21
If ORA meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $3.17, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 13.00 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.7, implying annual growth of 9.7%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 13.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.5, implying annual growth of 19.0%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ORA as Hold (3) -
In the wake of the first half results, Ord Minnett lowers forecasts for the North American division and reduces the growth profile for this business in FY21.
Estimates for the beverage division are largely unchanged. Hold rating maintained. Target is reduced to $3.10 from $3.20.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.10 Current Price is $2.94 Difference: $0.16
If ORA meets the Ord Minnett target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $3.17, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 78.30 cents and EPS of 15.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.7, implying annual growth of 9.7%. Current consensus DPS estimate is 22.0, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 20.0. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 9.00 cents and EPS of 13.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.5, implying annual growth of 19.0%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.41
UBS rates OSH as Upgrade to Buy from Neutral (1) -
UBS believes the market has over-reacted to the news that discussions over the P'nyang gas development have been terminated. As such the broker lifts the rating to Buy from Neutral.
The broker does not believe the expansion is ruled out completely and Papua LNG remains in play. Alaska is also regarded a driver of positive news for the company in 2020. Target is raised to $7.30 from $7.10.
Target price is $7.30 Current Price is $6.41 Difference: $0.89
If OSH meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $6.93, suggesting upside of 8.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 14.42 cents and EPS of 30.29 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.2, implying annual growth of N/A. Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 19.9. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 11.54 cents and EPS of 23.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.5, implying annual growth of 13.4%. Current consensus DPS estimate is 16.7, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 17.6. |
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
Overnight Price: $10.15
Macquarie rates OZL as Outperform (1) -
A pre-feasibility study suggests a positive economic outlook for OZ Minerals' West Musgrave project, although the broker notes a third party will need to agree to a power contract and the A$ will need to remain low.
The broker has not yet included the project in valuation, but notes a base case suggests an additional 90cps. Outperform and $11.30 target retained.
Target price is $11.30 Current Price is $10.15 Difference: $1.15
If OZL meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $10.57, suggesting upside of 4.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 20.00 cents and EPS of 39.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.0, implying annual growth of -33.3%. Current consensus DPS estimate is 19.5, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 20.00 cents and EPS of 31.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.7, implying annual growth of -17.3%. Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 25.6. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.60
Credit Suisse rates TGR as Neutral (3) -
First half net profit was ahead of expectations. Credit Suisse believes the strong share price reaction to the result is warranted, given a positive surprise on salmon margins, strong biomass growth and confidence in prawns.
Neutral rating retained. Target is raised to $4.90 from $4.55.
Target price is $4.90 Current Price is $4.60 Difference: $0.3
If TGR meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 18.50 cents and EPS of 33.15 cents. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 19.50 cents and EPS of 33.84 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TGR as Buy (1) -
First half results beat UBS estimates. Lower salmon volumes were offset by a favourable sales mix and cost optimisation.
Coronavirus disruptions on exports to China drive a conservative view on second half volumes.
UBS finds the valuation undemanding and retains a Buy rating. Target is raised to $5.35 from $5.12.
Target price is $5.35 Current Price is $4.60 Difference: $0.75
If TGR meets the UBS target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 18.00 cents and EPS of 32.10 cents. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 18.00 cents and EPS of 36.20 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TWE TREASURY WINE ESTATES LIMITED
Food, Beverages & Tobacco
More Research Tools In Stock Analysis - click HERE
Overnight Price: $11.13
Morgan Stanley rates TWE as Equal-weight (3) -
First half accounts are unchanged versus the announcement on January 28. However, Morgan Stanley notes, additional commentary was included in relation to the coronavirus.
At this stage the company considers it too early to assess the financial impact but should there be a sustained material impact on consumption, acknowledges this would affect FY20 earnings.
Growth expectations in FY20 earnings (EBITS) guidance, at 5-10%, exclude this factor.
Equal-weight rating and Cautious industry view maintained. Target is $15.
Target price is $15.00 Current Price is $11.13 Difference: $3.87
If TWE meets the Morgan Stanley target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $14.30, suggesting upside of 28.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 41.60 cents and EPS of 64.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 62.2, implying annual growth of 6.5%. Current consensus DPS estimate is 39.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 47.80 cents and EPS of 73.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 70.0, implying annual growth of 12.5%. Current consensus DPS estimate is 45.8, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates TWE as Hold (3) -
First half net profit was in line with forecasts as it was pre-announced. Ord Minnett still lowers growth estimates to below guidance because of the coronavirus outbreak.
The business retains several attractive attributes, notably the Penfolds brand and the market-leading position in Australia, but Ord Minnett highlights the challenges in commercial wine while the extent and timing of improvement is unknown.
Hold rating maintained. Target is reduced to $13 and $15.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $13.00 Current Price is $11.13 Difference: $1.87
If TWE meets the Ord Minnett target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $14.30, suggesting upside of 28.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 62.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 62.2, implying annual growth of 6.5%. Current consensus DPS estimate is 39.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 67.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 70.0, implying annual growth of 12.5%. Current consensus DPS estimate is 45.8, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $45.53
Credit Suisse rates WES as Underperform (5) -
Wesfarmers is scheduled to report on February 19, and Credit Suisse anticipates a "solid" performance despite some industrials issues. Sales growth at Bunnings is believed to be accelerating and Kmart, despite overall tough conditions for retail, should come out well, assisted by logistics problems in the past.
There are negative pressures for the chemicals business and industrials issues to work through at Blackwoods, but the analysts suggest nothing here to trouble investors, really. Ahead of the result, the broker has increased its target to $36.15 from $32.51. Underperform rating retained.
Target price is $36.15 Current Price is $45.53 Difference: minus $9.38 (current price is over target).
If WES meets the Credit Suisse target it will return approximately minus 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $37.37, suggesting downside of -17.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 154.00 cents and EPS of 171.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.1, implying annual growth of -2.9%. Current consensus DPS estimate is 152.0, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 27.4. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 163.00 cents and EPS of 181.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 172.9, implying annual growth of 4.1%. Current consensus DPS estimate is 156.5, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 26.3. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $33.69
Morgans rates WPL as Add (1) -
Woodside has signalled a non-cash write-down of -US$720m on the Kitimat assets in western Canada. Kitimat is not a core asset, which means there is only a small adjustment to the broker's modeling.
Morgans is not surprised, given the recent impairment announcement from operator/partner Chevron. The broker also includes lower 2020/21 oil price forecasts in its estimates.
Add rating maintained. Target is reduced to $37.10 from $38.32.
Target price is $37.10 Current Price is $33.69 Difference: $3.41
If WPL meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $36.56, suggesting upside of 8.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 134.49 cents and EPS of 167.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 173.1, implying annual growth of N/A. Current consensus DPS estimate is 139.4, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 166.31 cents and EPS of 224.15 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 206.7, implying annual growth of 19.4%. Current consensus DPS estimate is 158.5, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 16.3. |
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
Today's Price Target Changes
| Company | Last Price | Broker | New Target | Prev Target | Change | |
| A2M | A2 MILK | $15.19 | Citi | 17.45 | 12.30 | 41.87% |
| AMC | AMCOR | $15.24 | Macquarie | 16.95 | 16.85 | 0.59% |
| Morgan Stanley | 17.00 | 16.50 | 3.03% | |||
| Morgans | 16.62 | 14.70 | 13.06% | |||
| UBS | 16.00 | 15.40 | 3.90% | |||
| BAP | BAPCOR LIMITED | $6.80 | Credit Suisse | 7.50 | 7.80 | -3.85% |
| Macquarie | 8.00 | 7.70 | 3.90% | |||
| Morgans | 7.73 | 6.90 | 12.03% | |||
| BKL | BLACKMORES | $77.34 | Citi | 78.25 | 88.00 | -11.08% |
| Morgan Stanley | 66.00 | 71.00 | -7.04% | |||
| Morgans | 70.00 | 80.00 | -12.50% | |||
| Ord Minnett | 72.00 | 80.00 | -10.00% | |||
| CAR | CARSALES.COM | $18.99 | Credit Suisse | 18.80 | 18.30 | 2.73% |
| Macquarie | 18.60 | 15.80 | 17.72% | |||
| Ord Minnett | 18.98 | 16.54 | 14.75% | |||
| UBS | 17.50 | 15.00 | 16.67% | |||
| CBA | COMMBANK | $88.53 | Macquarie | 72.50 | 75.00 | -3.33% |
| Morgan Stanley | 75.50 | 70.00 | 7.86% | |||
| Ord Minnett | 78.20 | 74.80 | 4.55% | |||
| UBS | 75.00 | 70.00 | 7.14% | |||
| CNI | CENTURIA CAPITAL GROUP | $2.71 | Ord Minnett | 2.75 | 2.00 | 37.50% |
| CPU | COMPUTERSHARE | $17.49 | Citi | 19.20 | 18.30 | 4.92% |
| Credit Suisse | 19.40 | 16.50 | 17.58% | |||
| Macquarie | 16.25 | 15.00 | 8.33% | |||
| Morgans | 17.51 | 16.42 | 6.64% | |||
| CQE | CHARTER HALL SOC INFRA REIT | $3.58 | Ord Minnett | 3.70 | 3.65 | 1.37% |
| CSL | CSL | $329.87 | Citi | 331.60 | 282.60 | 17.34% |
| Credit Suisse | 350.00 | 320.00 | 9.38% | |||
| Macquarie | 324.00 | 300.00 | 8.00% | |||
| Morgans | 303.10 | 220.30 | 37.59% | |||
| Ord Minnett | 305.00 | 285.00 | 7.02% | |||
| UBS | 365.00 | 295.00 | 23.73% | |||
| DMP | DOMINO'S PIZZA | $57.85 | Credit Suisse | 53.77 | 38.52 | 39.59% |
| DOW | DOWNER EDI | $6.93 | Credit Suisse | 6.80 | 7.00 | -2.86% |
| Macquarie | 7.93 | 7.88 | 0.63% | |||
| Ord Minnett | 7.70 | 8.90 | -13.48% | |||
| EVN | EVOLUTION MINING | $4.06 | Morgan Stanley | 3.90 | 3.80 | 2.63% |
| Ord Minnett | 3.60 | 3.90 | -7.69% | |||
| UBS | 4.60 | 4.25 | 8.24% | |||
| IAG | INSURANCE AUSTRALIA | $6.77 | Citi | 7.70 | 8.40 | -8.33% |
| Credit Suisse | 7.30 | 7.65 | -4.58% | |||
| Morgans | 6.91 | 7.11 | -2.81% | |||
| Ord Minnett | 6.94 | 6.84 | 1.46% | |||
| UBS | 7.25 | 7.65 | -5.23% | |||
| IEL | IDP EDUCATION | $22.90 | Macquarie | 23.30 | 19.20 | 21.35% |
| Morgan Stanley | 24.00 | 21.50 | 11.63% | |||
| Morgans | 24.49 | 19.56 | 25.20% | |||
| Ord Minnett | 22.34 | 16.23 | 37.65% | |||
| UBS | 18.90 | 15.20 | 24.34% | |||
| JHX | JAMES HARDIE | $30.46 | Credit Suisse | 33.50 | 29.45 | 13.75% |
| Macquarie | 35.60 | 32.40 | 9.88% | |||
| MIN | MINERAL RESOURCES | $18.36 | Macquarie | 20.30 | 20.00 | 1.50% |
| Morgan Stanley | 17.20 | 17.10 | 0.58% | |||
| Ord Minnett | 16.20 | 14.80 | 9.46% | |||
| MP1 | MEGAPORT | $11.69 | Morgans | 12.94 | 11.38 | 13.71% |
| Ord Minnett | 11.10 | 11.30 | -1.77% | |||
| ORA | ORORA | $2.94 | Citi | 3.00 | 3.20 | -6.25% |
| Morgans | 3.15 | 3.34 | -5.69% | |||
| Ord Minnett | 3.10 | 3.20 | -3.13% | |||
| OSH | OIL SEARCH | $6.41 | UBS | 7.30 | 7.10 | 2.82% |
| TGR | TASSAL GROUP | $4.60 | Credit Suisse | 4.90 | 4.55 | 7.69% |
| UBS | 5.35 | 5.12 | 4.49% | |||
| TWE | TREASURY WINE ESTATES | $11.13 | Ord Minnett | 13.00 | 15.00 | -13.33% |
| WES | WESFARMERS | $45.53 | Credit Suisse | 36.15 | 32.51 | 11.20% |
| WPL | WOODSIDE PETROLEUM | $33.69 | Morgans | 37.10 | 38.32 | -3.18% |
Summaries
| A2M | A2 MILK | Upgrade to Buy from Sell - Citi | Overnight Price $15.19 |
| AMC | AMCOR | Buy - Citi | Overnight Price $15.24 |
| Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $15.24 | ||
| Outperform - Macquarie | Overnight Price $15.24 | ||
| Overweight - Morgan Stanley | Overnight Price $15.24 | ||
| Upgrade to Add from Hold - Morgans | Overnight Price $15.24 | ||
| Accumulate - Ord Minnett | Overnight Price $15.24 | ||
| Neutral - UBS | Overnight Price $15.24 | ||
| BAP | BAPCOR LIMITED | Outperform - Credit Suisse | Overnight Price $6.80 |
| Outperform - Macquarie | Overnight Price $6.80 | ||
| Overweight - Morgan Stanley | Overnight Price $6.80 | ||
| Add - Morgans | Overnight Price $6.80 | ||
| Buy - UBS | Overnight Price $6.80 | ||
| BKL | BLACKMORES | Neutral - Citi | Overnight Price $77.34 |
| Equal-weight - Morgan Stanley | Overnight Price $77.34 | ||
| Hold - Morgans | Overnight Price $77.34 | ||
| Hold - Ord Minnett | Overnight Price $77.34 | ||
| CAR | CARSALES.COM | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $18.99 |
| Neutral - Macquarie | Overnight Price $18.99 | ||
| Overweight - Morgan Stanley | Overnight Price $18.99 | ||
| Downgrade to Hold from Accumulate - Ord Minnett | Overnight Price $18.99 | ||
| Downgrade to Sell from Neutral - UBS | Overnight Price $18.99 | ||
| CBA | COMMBANK | Sell - Citi | Overnight Price $88.53 |
| Underperform - Credit Suisse | Overnight Price $88.53 | ||
| Underperform - Macquarie | Overnight Price $88.53 | ||
| Underweight - Morgan Stanley | Overnight Price $88.53 | ||
| Downgrade to Reduce from Hold - Morgans | Overnight Price $88.53 | ||
| Hold - Ord Minnett | Overnight Price $88.53 | ||
| Sell - UBS | Overnight Price $88.53 | ||
| CNI | CENTURIA CAPITAL GROUP | Upgrade to Accumulate from Hold - Ord Minnett | Overnight Price $2.71 |
| CPU | COMPUTERSHARE | Neutral - Citi | Overnight Price $17.49 |
| Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $17.49 | ||
| Underperform - Macquarie | Overnight Price $17.49 | ||
| Underweight - Morgan Stanley | Overnight Price $17.49 | ||
| Hold - Morgans | Overnight Price $17.49 | ||
| Downgrade to Lighten from Hold - Ord Minnett | Overnight Price $17.49 | ||
| Neutral - UBS | Overnight Price $17.49 | ||
| CQE | CHARTER HALL SOC INFRA REIT | Accumulate - Ord Minnett | Overnight Price $3.58 |
| CSL | CSL | Neutral - Citi | Overnight Price $329.87 |
| Outperform - Credit Suisse | Overnight Price $329.87 | ||
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $329.87 | ||
| Overweight - Morgan Stanley | Overnight Price $329.87 | ||
| Hold - Morgans | Overnight Price $329.87 | ||
| Hold - Ord Minnett | Overnight Price $329.87 | ||
| Buy - UBS | Overnight Price $329.87 | ||
| DMP | DOMINO'S PIZZA | Neutral - Credit Suisse | Overnight Price $57.85 |
| DOW | DOWNER EDI | Buy - Citi | Overnight Price $6.93 |
| Underperform - Credit Suisse | Overnight Price $6.93 | ||
| Outperform - Macquarie | Overnight Price $6.93 | ||
| Downgrade to Hold from Accumulate - Ord Minnett | Overnight Price $6.93 | ||
| ELO | ELMO SOFTWARE | Overweight - Morgan Stanley | Overnight Price $8.06 |
| EVN | EVOLUTION MINING | Outperform - Credit Suisse | Overnight Price $4.06 |
| Equal-weight - Morgan Stanley | Overnight Price $4.06 | ||
| Hold - Morgans | Overnight Price $4.06 | ||
| Hold - Ord Minnett | Overnight Price $4.06 | ||
| Upgrade to Buy from Neutral - UBS | Overnight Price $4.06 | ||
| IAG | INSURANCE AUSTRALIA | Buy - Citi | Overnight Price $6.77 |
| Neutral - Credit Suisse | Overnight Price $6.77 | ||
| Underperform - Macquarie | Overnight Price $6.77 | ||
| Equal-weight - Morgan Stanley | Overnight Price $6.77 | ||
| Hold - Morgans | Overnight Price $6.77 | ||
| Hold - Ord Minnett | Overnight Price $6.77 | ||
| Neutral - UBS | Overnight Price $6.77 | ||
| IEL | IDP EDUCATION | Outperform - Macquarie | Overnight Price $22.90 |
| Overweight - Morgan Stanley | Overnight Price $22.90 | ||
| Add - Morgans | Overnight Price $22.90 | ||
| Upgrade to Accumulate from Hold - Ord Minnett | Overnight Price $22.90 | ||
| Sell - UBS | Overnight Price $22.90 | ||
| JHX | JAMES HARDIE | Outperform - Credit Suisse | Overnight Price $30.46 |
| Outperform - Macquarie | Overnight Price $30.46 | ||
| Buy - UBS | Overnight Price $30.46 | ||
| MIN | MINERAL RESOURCES | Outperform - Macquarie | Overnight Price $18.36 |
| Overweight - Morgan Stanley | Overnight Price $18.36 | ||
| Hold - Ord Minnett | Overnight Price $18.36 | ||
| MP1 | MEGAPORT | Add - Morgans | Overnight Price $11.69 |
| Hold - Ord Minnett | Overnight Price $11.69 | ||
| Neutral - UBS | Overnight Price $11.69 | ||
| NAB | NATIONAL AUSTRALIA BANK | Sell - UBS | Overnight Price $26.43 |
| ORA | ORORA | Neutral - Citi | Overnight Price $2.94 |
| No Rating - Macquarie | Overnight Price $2.94 | ||
| Equal-weight - Morgan Stanley | Overnight Price $2.94 | ||
| Downgrade to Hold from Add - Morgans | Overnight Price $2.94 | ||
| Hold - Ord Minnett | Overnight Price $2.94 | ||
| OSH | OIL SEARCH | Upgrade to Buy from Neutral - UBS | Overnight Price $6.41 |
| OZL | OZ MINERALS | Outperform - Macquarie | Overnight Price $10.15 |
| TGR | TASSAL GROUP | Neutral - Credit Suisse | Overnight Price $4.60 |
| Buy - UBS | Overnight Price $4.60 | ||
| TWE | TREASURY WINE ESTATES | Equal-weight - Morgan Stanley | Overnight Price $11.13 |
| Hold - Ord Minnett | Overnight Price $11.13 | ||
| WES | WESFARMERS | Underperform - Credit Suisse | Overnight Price $45.53 |
| WPL | WOODSIDE PETROLEUM | Add - Morgans | Overnight Price $33.69 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 34 |
| 2. Accumulate | 4 |
| 3. Hold | 37 |
| 4. Reduce | 1 |
| 5. Sell | 14 |
Thursday 13 February 2020
Access Broker Call Report Archives here
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