Australian Broker Call
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January 25, 2022
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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.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
29M - | 29metals | Downgrade to Neutral from Outperform | Credit Suisse |
ADH - | Adairs | Downgrade to Hold from Accumulate | Ord Minnett |
CHC - | Charter Hall | Downgrade to Equal-weight from Overweight | Morgan Stanley |
COH - | Cochlear | Upgrade to Outperform from Neutral | Credit Suisse |
REA - | REA Group | Downgrade to Neutral from Outperform | Macquarie |
RMD - | ResMed | Upgrade to Buy from Hold | Ord Minnett |
RRL - | Regis Resources | Downgrade to Hold from Add | Morgans |
Citi rates 29M as Buy (1) -
Citi retains its $3.20 target and Buy rating after 29Metals met revised guidance for FY21 via 4Q results. Copper production was a 10% beat versus the broker's estimates though Zinc production of 12.1kt was an around -4kt miss. All in sustaining costs (AISC) were in-line.
The analyst expects valuation support in the near term from strong zinc prices, and consistent operational results should provide medium-term support.
Target price is $3.20 Current Price is $2.83 Difference: $0.37
If 29M meets the Citi target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $3.15, suggesting upside of 16.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 0.00 cents and EPS of 14.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 67.9%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 23.4. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 2.00 cents and EPS of 8.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.2, implying annual growth of -29.3%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 33.0. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates 29M as Downgrade to Neutral from Outperform (3) -
Following December quarter results, Credit Suisse downgrades its rating for 29Metals to Neutral from Outperform and lowers its target price to $2.75 from $3.40.
Production was a beat for the quarter versus the analyst's estimate for Capricorn Copper. However, there was disappointing overall FY22 guidance due to permit delays, wet weather and production challenges. The broker also incorporates higher FY23 costs into the forecast.
Target price is $2.75 Current Price is $2.83 Difference: minus $0.08 (current price is over target).
If 29M meets the Credit Suisse target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.15, suggesting upside of 16.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 0.00 cents and EPS of 11.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 67.9%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 23.4. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 4.00 cents and EPS of 13.25 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.2, implying annual growth of -29.3%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 33.0. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates 29M as Outperform (1) -
Macquarie reports 29Metals' fourth quarter was a mixed bag, with copper production as predicted and a slight revenue beat largely offset by increased costs, but eyes are on a weaker than expected 2022 forecast.
With the outlook for the year ahead not as expected, impacted by higher operating costs and lower by-product output, the broker decreases copper and zinc production forecasts -6% and -13% and increases operating costs 12%, in line with company guidance.
The Outperform rating is retained and the target price decreases to $3.50 from $3.60.
Target price is $3.50 Current Price is $2.83 Difference: $0.67
If 29M meets the Macquarie target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $3.15, suggesting upside of 16.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of 14.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 67.9%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 23.4. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 4.50 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.2, implying annual growth of -29.3%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 33.0. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates 29M as Overweight (1) -
29Metals' December quarter copper output was a 21% beat versus Morgan Stanley's estimate, while zinc, gold and silver also outperformed. However, management's absolute cost base guidance was an around -10% miss.
The broker lowers its target price to $3.15 from $3.25 and retains its Overweight rating. The industry view is In-Line.
Target price is $3.15 Current Price is $2.83 Difference: $0.32
If 29M meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $3.15, suggesting upside of 16.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 0.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 67.9%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 23.4. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.2, implying annual growth of -29.3%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 33.0. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.99
Morgans rates ADH as Add (1) -
Distribution centre costs were largely responsible for a greater impact upon Adair's margins than Morgans had anticipated. Also, management's amended 1H earnings (forecast) was an -8-10% miss versus the analyst's prior forecast.
The broker lowers its target price to $3.70 from $4.80 though highlights the trading update was more disappointing than disastrous. It's thought the estimated FY23 price earnings ratio of 7.6x and currently attractive dividend yield are enough to retain an Add rating.
Target price is $3.70 Current Price is $2.99 Difference: $0.71
If ADH meets the Morgans target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $4.43, suggesting upside of 45.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 19.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.2, implying annual growth of -17.2%. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 26.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of 24.7%. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 8.1%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ADH as Downgrade to Hold from Accumulate (3) -
Adairs interim financials update showed a company impacted by store closures, in the view of Ord Minnett. Plus there was negative impact from supply chain costs and higher advertising spend.
The first impact might be one-off, the latter two are not, in the broker's view.
Given higher uncertainty also including a possible moderation in customer traffic to stores in the second half, Ord Minnett has decided to downgrade to Hold from Accumulate.
Price target falls to $3.90 from $4.10 on reduced forecasts.
Target price is $3.90 Current Price is $2.99 Difference: $0.91
If ADH meets the Ord Minnett target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $4.43, suggesting upside of 45.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 18.50 cents and EPS of 29.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.2, implying annual growth of -17.2%. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY23:
Ord Minnett forecasts a full year FY23 dividend of 23.00 cents and EPS of 34.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of 24.7%. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 8.1%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ADH as Buy (1) -
Adairs' soft market update proved softer-than-expected with UBS's analysis suggesting the miss might be in the order of -10% underlying.
The broker zooms in on the greater-than-expected slow down in online sales. Supply chains related delays have been affecting online sales over the Christmas period, according to the analysts.
UBS says it is not concerned about what likely will prove a temporary set-back. The general assessment is that the shares have been sold off too far. Target price only declines by -3% to $5.70.
Target price is $5.70 Current Price is $2.99 Difference: $2.71
If ADH meets the UBS target it will return approximately 91% (excluding dividends, fees and charges).
Current consensus price target is $4.43, suggesting upside of 45.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
UBS forecasts a full year FY22 EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.2, implying annual growth of -17.2%. Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 9.7. |
Forecast for FY23:
UBS forecasts a full year FY23 EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.9, implying annual growth of 24.7%. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 8.1%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $16.84
Macquarie rates AMC as Outperform (1) -
Macquarie expects Amcor will report a solid first half result, anticipating a profit after tax increase of 9% on the previous corresponding period, representing 45.6% of the full year forecast and leaving the company on track for the full year forecast given a second half profit weighting.
The broker highlights raw material and supply chain issues in the last year were well managed by Amcor, but pressure is expected to persist. Up to 15% price rises for products, announced in December, reflect these cost pressures and are in line with global peers.
The Outperform rating is retained and the target price increases to $18.24 from $18.00.
Target price is $18.24 Current Price is $16.84 Difference: $1.4
If AMC meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $18.30, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 65.37 cents and EPS of 106.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 112.6, implying annual growth of N/A. Current consensus DPS estimate is 67.9, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 66.70 cents and EPS of 110.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 117.9, implying annual growth of 4.7%. Current consensus DPS estimate is 70.7, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 14.1. |
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: $3.63
Citi rates BWX as Buy (1) -
Cit reiterates its Buy rating for BWX in advance of February 25 1H results despite elevated covid uncertainty in its business markets. The analyst anticipates 'strong' sales and earnings growth.
The broker sees a significant distribution growth opportunity in the US and Europe and potential growth for the direct-to-customer (DTC) platforms. The $5.70 target price and Buy rating are unchanged.
Target price is $5.70 Current Price is $3.63 Difference: $2.07
If BWX meets the Citi target it will return approximately 57% (excluding dividends, fees and charges).
Current consensus price target is $5.73, suggesting upside of 62.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 4.50 cents and EPS of 14.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of -12.7%. Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Forecast for FY23:
Citi forecasts a full year FY23 dividend of 5.90 cents and EPS of 18.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.8, implying annual growth of 32.9%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $17.68
Morgan Stanley rates CHC as Downgrade to Equal-weight from Overweight (3) -
Morgan Stanley downgrades its rating for Charter Hall Group to Equal-weight from Overweight as record inflows and strong upward revaluations may subside as global bond yields continue to rise.
The company's price earnings multiple traditionally has a strong correlation with the 10-year Australian bond yield, explains the analyst.
Overweight rating. Target lowered to $19.88 from $23.15. Industry view is In-Line.
Target price is $19.88 Current Price is $17.68 Difference: $2.2
If CHC meets the Morgan Stanley target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $21.96, suggesting upside of 32.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 40.20 cents and EPS of 107.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.1, implying annual growth of 6.6%. Current consensus DPS estimate is 40.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 15.2. |
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 42.60 cents and EPS of 89.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 94.0, implying annual growth of -13.8%. Current consensus DPS estimate is 42.8, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $193.10
Credit Suisse rates COH as Upgrade to Outperform from Neutral (1) -
Credit Suisse upgrades its rating for Cochlear to Outperform from Neutral on valuation grounds. While the stock is back trading at pre-covid levels, the company's market share of 60% is expected to be maintained in FY22, up from 53% in FY19.
Ahead of 1H results, the analyst sees a low risk to FY22 earnings guidance and conservatively forecasts FY22 profit of $270m versus guidance for $265m-$285m. The $235 target price is unchanged.
Target price is $235.00 Current Price is $193.10 Difference: $41.9
If COH meets the Credit Suisse target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $216.50, suggesting upside of 13.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 288.00 cents and EPS of 411.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 417.1, implying annual growth of -16.0%. Current consensus DPS estimate is 309.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 45.9. |
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 340.00 cents and EPS of 488.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 489.6, implying annual growth of 17.4%. Current consensus DPS estimate is 376.5, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 39.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $19.72
Credit Suisse rates CPU as Outperform (1) -
Credit Suisse feels Computershare is more likely to reconfirm FY22 guidance at 1H results (rather than an upgrade) given mixed activity trends.
Nonetheless, the broker feels there is 2H upside bias from a higher rate of M&A completions, rate rises or a faster-than-expected mortgage servicing recovery. The target price is therefore raised to $25.20 from $23.20, while the Outperform rating is unchanged.
Target price is $25.20 Current Price is $19.72 Difference: $5.48
If CPU meets the Credit Suisse target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $19.74, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 61.49 cents and EPS of 71.05 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 74.6, implying annual growth of N/A. Current consensus DPS estimate is 59.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 25.6. |
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 61.49 cents and EPS of 87.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 89.4, implying annual growth of 19.8%. Current consensus DPS estimate is 64.0, implying a prospective dividend yield of 3.3%. 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: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DHG DOMAIN HOLDINGS AUSTRALIA LIMITED
Real Estate
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Overnight Price: $4.77
Macquarie rates DHG as Neutral (3) -
Macquarie expects Domain Holdings Australia to report solid listing growth within first half results. Web tracking suggests continued market strength has driven 9% volume growth in the half in an already record listing volume calendar year.
Looking past the first half, the broker highlights an expected decline in building commencements likely suggests a similar deceleration of media ad revenue over the coming years which presents downside risk to earnings per share forecasts.
The broker looks to commentary on sustainable growth strategy for improved confidence. Earnings per share forecasts decrease -7%, -10%, -10% and -11% through to FY25.
The Neutral rating is retained and the target price increases to $4.90 from $4.80.
Target price is $4.90 Current Price is $4.77 Difference: $0.13
If DHG meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $5.54, suggesting upside of 16.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 6.00 cents and EPS of 8.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.9, implying annual growth of 51.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 53.7. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 6.20 cents and EPS of 10.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.9, implying annual growth of 33.7%. Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 40.2. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.38
Morgan Stanley rates IAG as Underweight (5) -
Consumer Data Right (CDR) is broadening to "Open Finance" from Open Banking, with targeted datasets from general insurance, super, non-bank lending and merchant acquiring.
Morgan Stanley had previously pointed to this risk (for Insurance Australia Group) of allowing consumers to compare and save, not only in the banking sphere.
The broker's Underweight rating and target price of $3.80 are retained as "Open Finance" will initially focus on limited data types from these new segments. Industry view: In-Line.
Target price is $3.80 Current Price is $4.38 Difference: minus $0.58 (current price is over target).
If IAG meets the Morgan Stanley target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.06, suggesting upside of 18.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 3.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of N/A. Current consensus DPS estimate is 14.8, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 12.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.1, implying annual growth of 44.1%. Current consensus DPS estimate is 22.1, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 14.7. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.35
UBS rates IPL as Buy (1) -
UBS retains its Buy rating following a positive market update by Incitec Pivot that saw the company reiterating its guidance for the two key divisions of fertiliser and explosives.
With fertiliser prices on the rise, UBS has lifted its price forecast with follow-through impact on forecasts. FY22 EPS estimate has been lifted by 25%.
The broker sees ongoing strong growth from fertiliser pricing and projects the company might be able to consider capital management options by the end of FY22.
Price target lifts to $3.95 from $3.60.
Target price is $3.95 Current Price is $3.35 Difference: $0.6
If IPL meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $3.92, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY22:
UBS forecasts a full year FY22 EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.9, implying annual growth of 432.6%. Current consensus DPS estimate is 22.3, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY23:
UBS forecasts a full year FY23 EPS of 28.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.6, implying annual growth of -39.9%. Current consensus DPS estimate is 12.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LVH LIVEHIRE LIMITED
Jobs & Skilled Labour Services
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Overnight Price: $0.38
Morgans rates LVH as Add (1) -
Livehire's 2Q trading update was in-line with Morgans expectations and highlighted the improving trajectory in the domestic SaaS business, with a net gain of 14 clients (versus three in the 1Q).
The analyst also highlights the North American Direct Sourcing business (DS) is on-track to meet its targeted client base by the end of FY22.
The Add rating and $0.53 target price are unchanged.
Target price is $0.53 Current Price is $0.38 Difference: $0.15
If LVH meets the Morgans target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.90 cents. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.01 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PTB PTB GROUP LIMITED
Industrial Sector Contractors & Engineers
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Overnight Price: $1.20
Morgans rates PTB as Add (1) -
Preliminary 1H profit (NPBTFX) results exceeded PTB Group's guidance and was a 2% beat versus Morgans estimate. Management didn't amend guidance though pointed to strong trading conditions in the US and Asia-Pacific.
Morgans raises its target price to $1.27 from $1.21 and sees a potential 12-month total shareholder return of 11%, even before potential upside from acquistions. The Add rating is maintained.
Target price is $1.27 Current Price is $1.20 Difference: $0.07
If PTB meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 5.00 cents and EPS of 7.50 cents. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 4.00 cents and EPS of 7.50 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $151.02
Macquarie rates REA as Downgrade to Neutral from Outperform (3) -
Macquarie expects REA Group to report solid listing growth within first half results. Web tracking suggests continued market strength has driven 15% volume growth in the half in an already record listing volume calendar year.
Looking past the first half, the broker highlights an expected decline in building commencements likely suggests a similar deceleration of media ad revenue over the coming years which presents downside risk to earnings per share forecasts.
The broker looks to commentary on sustainable growth strategy for improved confidence. Earnings per share forecasts are updated 5%, -3%, -4% and -4% through to FY25.
The rating is downgraded to Neutral from Outperform and the target decreases to $162.00 from $192.00.
Target price is $162.00 Current Price is $151.02 Difference: $10.98
If REA meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $169.89, suggesting upside of 15.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 169.80 cents and EPS of 310.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 309.3, implying annual growth of 26.5%. Current consensus DPS estimate is 165.1, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 47.5. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 191.80 cents and EPS of 351.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 365.8, implying annual growth of 18.3%. Current consensus DPS estimate is 196.3, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 40.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $32.73
Macquarie rates RMD as Outperform (1) -
Macquarie expects supply chain constraints will be a headline of ResMed's upcoming second quarter results given recent commentary on impacts of supply pressures in the December quarter.
Results may include incremental device revenue benefits from the Philips recall. The company expects full year benefits of US$300-350m, but Macquarie expects a lower December quarter benefit given supply constraints, before rising in the June quarter.
Looking ahead, increased capacity for new patient diagnosis and capacity for ResMed to increase manufacturing output and market share supports a strong growth thesis into FY23.
The Outperform rating is retained and the target price decreases to $38.40 from $39.00.
Target price is $38.40 Current Price is $32.73 Difference: $5.67
If RMD meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $39.27, suggesting upside of 20.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 22.86 cents and EPS of 83.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 89.0, implying annual growth of N/A. Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 0.7%. Current consensus EPS estimate suggests the PER is 36.7. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 24.46 cents and EPS of 105.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.7, implying annual growth of 16.5%. Current consensus DPS estimate is 25.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 31.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates RMD as Upgrade to Buy from Hold (1) -
ResMed has been upgraded to Buy from Hold as Ord Minnett anticipates FY22 will mark another strong performance for the company as it takes full advantage of competitor Philips' product recall woes.
The broker anticipates supply chain limitations will be resolved and remains confident ResMed has both the product range and sales force to ensure it holds onto material market share gains once Philips gets its act together again.
Target price rises to $37.90 from $36. Small cuts have been made to forecasts in recognition of ongoing supply chain challenges in the short term.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $37.90 Current Price is $32.73 Difference: $5.17
If RMD meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $39.27, suggesting upside of 20.2% (ex-dividends)
Forecast for FY22:
Current consensus EPS estimate is 89.0, implying annual growth of N/A. Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 0.7%. Current consensus EPS estimate suggests the PER is 36.7. |
Forecast for FY23:
Current consensus EPS estimate is 103.7, implying annual growth of 16.5%. Current consensus DPS estimate is 25.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 31.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.80
Citi rates RRL as Neutral (3) -
Following December quarter results, Citi lowers its target price for Regis Resources to $2.15 from $2.70.
The lower target price and Neutral rating stem from a guidance downgrade, operational issues at Duketon and delayed progress at McPhillamys.
Target price is $2.15 Current Price is $1.80 Difference: $0.35
If RRL meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.19, suggesting upside of 25.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 8.00 cents and EPS of 15.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.0, implying annual growth of -50.7%. Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY23:
Citi forecasts a full year FY23 dividend of 7.00 cents and EPS of 14.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.2, implying annual growth of 24.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates RRL as Outperform (1) -
Regis Resources' December-quarter production was -9% below Credit Suisse's forecast, (driven by less ore milled and lower grades at Duketon) and -10% adrift of the consensus estimate. In addition, production guidance at Duketon was lowered.
While the analyst maintains an Outperform rating, the target price falls to $2.25 from $2.50. Earnings estimates are lowered by -11% in FY22 reflecting a -5% reduction to production estimates and a 13% increase in costs.
Target price is $2.25 Current Price is $1.80 Difference: $0.45
If RRL meets the Credit Suisse target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $2.19, suggesting upside of 25.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 8.00 cents and EPS of 12.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.0, implying annual growth of -50.7%. Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 8.00 cents and EPS of 18.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.2, implying annual growth of 24.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates RRL as Outperform (1) -
A pit slip at Regis Resources' Rosemount Main has seen the company permanently halt activity in the open pit, and driven a reduction in full year guidance with Macquarie noting production guidance decreased to 420-475,000 ounces from 460-515,000 ounces.
Given pit activity was scheduled to conclude in FY22 the company suggests the slip does not materially impact long-term plans for the site. The company also reported a softer than expected second quarter with production -11% below Macquarie's estimate.
All eyes are now on approvals for the McPhillamys project as key to the company's longer-term outlook.
The Outperform rating is retained and the target price decreases to $2.40 from $2.50.
Target price is $2.40 Current Price is $1.80 Difference: $0.6
If RRL meets the Macquarie target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $2.19, suggesting upside of 25.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 4.00 cents and EPS of 15.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.0, implying annual growth of -50.7%. Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 2.00 cents and EPS of 9.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.2, implying annual growth of 24.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates RRL as Overweight (1) -
December quarter gold production for Regis Resources was a -21% miss versus Morgan Stanley's estimate and all in sustaining costs were a -17% miss.
FY22 guidance at Duketon was reduced (lowering group production and increasing costs) as the result of a geotechnical incident and the broker lowers its target price to $2.15 from $2.35 as a result. Overweight maintained. Industry view: In-Line.
Target price is $2.15 Current Price is $1.80 Difference: $0.35
If RRL meets the Morgan Stanley target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.19, suggesting upside of 25.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 6.50 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.0, implying annual growth of -50.7%. Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 8.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.2, implying annual growth of 24.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates RRL as Downgrade to Hold from Add (3) -
Morgans believes negative sentiment towards Regis Resources will outlast the operational impact (six months) from downgraded production at the Rosemount open pit, resulting from a wall slip. This follows other geotechical issues 18 months earlier.
As a result, the broker reduces its rating to Hold from Add and the target price falls to $2 from $3.03. It's thought more clarity on the medium-term production outlook, followed by execution, may unwind some of the current share price discount.
Target price is $2.00 Current Price is $1.80 Difference: $0.2
If RRL meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.19, suggesting upside of 25.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 7.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.0, implying annual growth of -50.7%. Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 7.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.2, implying annual growth of 24.6%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.94
Citi rates S32 as Buy (1) -
Citi points out increasing inflationary pressures (higher raw material input costs) were evident in South32's December quarter production result. Metallurgical coal and manganese production were weaker than expected and manganese volume guidance was reduced.
Despite the above, the broker maintains its Buy rating and $4.45 target price as commodity prices are running ahead of forecasts.
Target price is $4.45 Current Price is $3.94 Difference: $0.51
If S32 meets the Citi target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 28.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 29.41 cents and EPS of 58.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 60.2, implying annual growth of N/A. Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 7.3%. Current consensus EPS estimate suggests the PER is 6.2. |
Forecast for FY23:
Citi forecasts a full year FY23 dividend of 29.41 cents and EPS of 59.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of -17.6%. Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 7.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates S32 as Outperform (1) -
Credit Suisse assesses a mixed December quarter for South32 with alumina and aluminium production in-line while manganese and metallurgical coal were misses due to weather.
Management lowered FY22 production guidance by -9% on weather and shortage of labour. Offsetting this in the analyst's forecasts are increased earnings estimates for FY22/23 on better realised pricing and the application of higher aluminium premiums.
The Outperform rating and $5.30 target price are unchanged.
Target price is $5.30 Current Price is $3.94 Difference: $1.36
If S32 meets the Credit Suisse target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 28.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 21.37 cents and EPS of 53.43 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 60.2, implying annual growth of N/A. Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 7.3%. Current consensus EPS estimate suggests the PER is 6.2. |
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 19.74 cents and EPS of 49.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of -17.6%. Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 7.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates S32 as Outperform (1) -
A mixed bag from South32 in the second quarter according to Macquarie, with below expectation coal and manganese production largely offset by solid production from the Cannington mine.
While South32 benefited from strong realised price increases and a guidance upgrade of around 5% for Cannington, GEMCO was downgraded -9% given weather impacts. Earnings per share forecasts decrease -10% in FY22 and -2-4% between FY23-27.
The Outperform rating is retained and the target price decreases to $4.80 from $5.00.
Target price is $4.80 Current Price is $3.94 Difference: $0.86
If S32 meets the Macquarie target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 28.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 22.86 cents and EPS of 52.93 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 60.2, implying annual growth of N/A. Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 7.3%. Current consensus EPS estimate suggests the PER is 6.2. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 18.05 cents and EPS of 41.84 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of -17.6%. Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 7.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates S32 as Buy (1) -
South32's Q2 update revealed cost pressures remain an ongoing challenge, observes Ord Minnett, while pricing achieved provided some offsett against a background of a mixed production report.
Earnings estimates have been lowered following the incorporation of higher costs. The broker continues to see strong valuation support with a projected free cash flow yield in excess of 20% on FY23 estimates.
Buy rating retained with a price target of $4.80 versus $4.90 prior.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $4.80 Current Price is $3.94 Difference: $0.86
If S32 meets the Ord Minnett target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 28.0% (ex-dividends)
Forecast for FY22:
Current consensus EPS estimate is 60.2, implying annual growth of N/A. Current consensus DPS estimate is 27.3, implying a prospective dividend yield of 7.3%. Current consensus EPS estimate suggests the PER is 6.2. |
Forecast for FY23:
Current consensus EPS estimate is 49.6, implying annual growth of -17.6%. Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 7.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $11.23
Morgan Stanley rates SUN as Equal-weight (3) -
Consumer Data Right (CDR) is broadening to "Open Finance" from Open Banking, with targeted datasets from general insurance, super, non-bank lending and merchant acquiring.
Morgan Stanley had previously pointed to this risk (for Suncorp Group) of allowing consumers to compare and save, not only in the banking sphere.
The broker's Equal-Weight rating and target price of $11.90 are retained as "Open Finance" will initially focus on limited data types from these new segments. Industry view: In-Line.
Target price is $11.90 Current Price is $11.23 Difference: $0.67
If SUN meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $13.24, suggesting upside of 20.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 53.00 cents and EPS of 62.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 66.9, implying annual growth of -17.3%. Current consensus DPS estimate is 55.7, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 16.4. |
Forecast for FY23:
Morgan Stanley forecasts a full year FY23 dividend of 72.00 cents and EPS of 82.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 84.3, implying annual growth of 26.0%. Current consensus DPS estimate is 68.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 13.0. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $5.05
Macquarie rates TAH as Outperform (1) -
Ahead of Tabcorp Holding's first half results Macquarie is forecasting underlying earnings of $528m, noting the figure is a -6% year-on-year decline cycling off covid benefits in the previous comparable period.
Lotteries and Keno offered the largest division growth, and the broker expects further information on the demerger of the division in April. Lottery prize pools look to have increased 20% in the half, driving a 7% increase to the broker's FY22 lottery revenue forecasts.
The Outperform rating is retained and the target price decreases to $6.45 from $6.55.
Target price is $6.45 Current Price is $5.05 Difference: $1.4
If TAH meets the Macquarie target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $5.50, suggesting upside of 10.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 14.00 cents and EPS of 17.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.8, implying annual growth of 36.4%. Current consensus DPS estimate is 14.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 29.8. |
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 15.50 cents and EPS of 19.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.6, implying annual growth of 22.6%. Current consensus DPS estimate is 16.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 24.3. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.27
Macquarie rates WAF as Outperform (1) -
West African Resources closed out 2021 with production of 8,700 ounces a beat on the top end of guidance, and while all in sustaining costs were within guidance range Macquarie notes the Sanbrado project drove a 7% beat on all in sustaining costs for the fourth quarter.
The company also completed repayment of the Taurus debt facility during the quarter and reported a closing cash balance of $183m. The broker notes 2022 guidance, a potential resource update and Kiaka project feasibility study results will be important for the company's outlook.
The Outperform rating and target price of $1.60 are retained.
Target price is $1.60 Current Price is $1.27 Difference: $0.33
If WAF meets the Macquarie target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of 24.30 cents. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 0.00 cents and EPS of 12.80 cents. |
Market Sentiment: 1.0
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 | |
29M | 29metals | $2.71 | Credit Suisse | 2.75 | 3.40 | -19.12% |
Macquarie | 3.50 | 3.60 | -2.78% | |||
Morgan Stanley | 3.15 | 2.90 | 8.62% | |||
ADH | Adairs | $3.04 | Morgans | 3.70 | 4.80 | -22.92% |
Ord Minnett | 3.90 | 4.10 | -4.88% | |||
UBS | 5.70 | 5.90 | -3.39% | |||
AMC | Amcor | $16.60 | Macquarie | 18.24 | 18.00 | 1.33% |
CHC | Charter Hall | $16.58 | Morgan Stanley | 19.88 | 23.15 | -14.13% |
CPU | Computershare | $19.13 | Credit Suisse | 25.20 | 23.20 | 8.62% |
DHG | Domain Australia | $4.78 | Macquarie | 4.90 | 4.80 | 2.08% |
IAG | Insurance Australia Group | $4.27 | Morgan Stanley | 3.80 | 3.75 | 1.33% |
IPL | Incitec Pivot | $3.29 | UBS | 3.95 | 3.60 | 9.72% |
PTB | PTB Group | $1.16 | Morgans | 1.27 | 1.21 | 4.96% |
REA | REA Group | $147.07 | Macquarie | 162.00 | 192.00 | -15.63% |
RMD | ResMed | $32.66 | Macquarie | 38.40 | 39.00 | -1.54% |
Ord Minnett | 37.90 | 36.00 | 5.28% | |||
RRL | Regis Resources | $1.75 | Citi | 2.15 | 2.70 | -20.37% |
Credit Suisse | 2.25 | 3.60 | -37.50% | |||
Macquarie | 2.40 | 2.50 | -4.00% | |||
Morgan Stanley | 2.15 | 2.65 | -18.87% | |||
Morgans | 2.00 | 3.03 | -33.99% | |||
S32 | South32 | $3.74 | Macquarie | 4.80 | 5.00 | -4.00% |
Ord Minnett | 4.80 | 4.90 | -2.04% | |||
TAH | Tabcorp | $5.00 | Macquarie | 6.45 | 6.55 | -1.53% |
Summaries
29M | 29metals | Buy - Citi | Overnight Price $2.83 |
Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $2.83 | ||
Outperform - Macquarie | Overnight Price $2.83 | ||
Overweight - Morgan Stanley | Overnight Price $2.83 | ||
ADH | Adairs | Add - Morgans | Overnight Price $2.99 |
Downgrade to Hold from Accumulate - Ord Minnett | Overnight Price $2.99 | ||
Buy - UBS | Overnight Price $2.99 | ||
AMC | Amcor | Outperform - Macquarie | Overnight Price $16.84 |
BWX | BWX | Buy - Citi | Overnight Price $3.63 |
CHC | Charter Hall | Downgrade to Equal-weight from Overweight - Morgan Stanley | Overnight Price $17.68 |
COH | Cochlear | Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $193.10 |
CPU | Computershare | Outperform - Credit Suisse | Overnight Price $19.72 |
DHG | Domain Australia | Neutral - Macquarie | Overnight Price $4.77 |
IAG | Insurance Australia Group | Underweight - Morgan Stanley | Overnight Price $4.38 |
IPL | Incitec Pivot | Buy - UBS | Overnight Price $3.35 |
LVH | LiveHire | Add - Morgans | Overnight Price $0.38 |
PTB | PTB Group | Add - Morgans | Overnight Price $1.20 |
REA | REA Group | Downgrade to Neutral from Outperform - Macquarie | Overnight Price $151.02 |
RMD | ResMed | Outperform - Macquarie | Overnight Price $32.73 |
Upgrade to Buy from Hold - Ord Minnett | Overnight Price $32.73 | ||
RRL | Regis Resources | Neutral - Citi | Overnight Price $1.80 |
Outperform - Credit Suisse | Overnight Price $1.80 | ||
Outperform - Macquarie | Overnight Price $1.80 | ||
Overweight - Morgan Stanley | Overnight Price $1.80 | ||
Downgrade to Hold from Add - Morgans | Overnight Price $1.80 | ||
S32 | South32 | Buy - Citi | Overnight Price $3.94 |
Outperform - Credit Suisse | Overnight Price $3.94 | ||
Outperform - Macquarie | Overnight Price $3.94 | ||
Buy - Ord Minnett | Overnight Price $3.94 | ||
SUN | Suncorp Group | Equal-weight - Morgan Stanley | Overnight Price $11.23 |
TAH | Tabcorp | Outperform - Macquarie | Overnight Price $5.05 |
WAF | West African Resources | Outperform - Macquarie | Overnight Price $1.27 |
RATING SUMMARY
Rating | No. Of Recommendations |
1. Buy | 23 |
3. Hold | 8 |
5. Sell | 1 |
Tuesday 25 January 2022
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Disclaimer:
The content of this information does in no way reflect the opinions of
FNArena, or of its journalists. In fact we don't have any opinion about
the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe
and comment on. By doing so we believe we provide intelligent investors
with a valuable tool that helps them in making up their own minds, reading
market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not
constitute an offer to sell or a solicitation to buy any security or other
financial instrument. FNArena employs very experienced journalists who
base their work on information believed to be reliable and accurate, though
no guarantee is given that the daily report is accurate or complete. Investors
should contact their personal adviser before making any investment decision.
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