Australian Broker Call
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August 20, 2019
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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
| ALU - | ALTIUM | Upgrade to Neutral from Underperform | Macquarie |
| BPT - | BEACH ENERGY | Upgrade to Buy from Neutral | Citi |
| GWA - | GWA GROUP | Downgrade to Sell from Neutral | Citi |
| NHF - | NIB HOLDINGS | Upgrade to Hold from Sell | Ord Minnett |
| Downgrade to Sell from Neutral | UBS | ||
| NWL - | NETWEALTH GROUP | Upgrade to Buy from Accumulate | Ord Minnett |
| Upgrade to Neutral from Sell | UBS | ||
| SIQ - | SMARTGROUP | Upgrade to Add from Hold | Morgans |
Overnight Price: $35.69
Macquarie rates ALU as Upgrade to Neutral from Underperform (3) -
Altium's result was modestly below expectation but largely due to promotional activity. Otherwise key metrics were strong, with better than expected new seat and subscriber additions.
Macquarie believes the company can maintain strong growth from its core base while retaining optionality to pursue larger initiatives over time.
Earnings forecasts have been ticked up and target rises 4% to $35.50. Upgrade to Neutral from Underperform.
Target price is $35.50 Current Price is $35.69 Difference: minus $0.19 (current price is over target).
If ALU meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $32.53, suggesting downside of -8.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 38.90 cents and EPS of 45.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.9, implying annual growth of N/A. Current consensus DPS estimate is 40.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 77.8. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 45.60 cents and EPS of 55.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.1, implying annual growth of 22.2%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ALU as Hold (3) -
FY19 results were softer relative to Ord Minnett's expectations. The broker awaits the industry transformation milestones that are yet to be clearly defined.
These include accelerating subscriber growth, adoption of Altium 365 and the platform alignment with key industry stakeholders.
Hold rating maintained. Target is raised to $29.59 from $26.51.
Target price is $29.59 Current Price is $35.69 Difference: minus $6.1 (current price is over target).
If ALU meets the Ord Minnett target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $32.53, suggesting downside of -8.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 38.00 cents and EPS of 46.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.9, implying annual growth of N/A. Current consensus DPS estimate is 40.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 77.8. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 42.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.1, implying annual growth of 22.2%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 63.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BHP as Outperform (1) -
Upon initial review. Macquarie analysts note the Big Australian has released a rather weak FY19 report, and there was no capital management on top of the dividend. Underlying profits turned out no less than -10% below what the analysts had penciled in.
Higher costs are to blame for the firm "miss" and the analysts note management has guided towards higher costs in FY20. The dividend also was below expectation. The weak result means net debt has increased.
Target price is $44.00 Current Price is $36.22 Difference: $7.78
If BHP meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $40.23, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 341.37 cents and EPS of 276.49 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 278.1, implying annual growth of N/A. Current consensus DPS estimate is 350.1, implying a prospective dividend yield of 9.7%. Current consensus EPS estimate suggests the PER is 13.0. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 241.22 cents and EPS of 342.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 369.3, implying annual growth of 32.8%. Current consensus DPS estimate is 233.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 9.8. |
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
Ord Minnett rates BHP as Hold (3) -
Upon initial assessment, Ord Minnett acknowledges the FY19 result missed market expectations, though it was broadly in line with its own projections, underlying. The declared dividend beat the broker's expectation.
Cost guidance looks in-line, while FY21 capex guidance is higher than anticipated, as the company intends to spend on Jansen. Ord Minnett suggests, all-in-all, it appears BHP has released a largely "clean" result.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $40.00 Current Price is $36.22 Difference: $3.78
If BHP meets the Ord Minnett target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $40.23, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 328.01 cents and EPS of 253.72 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 278.1, implying annual growth of N/A. Current consensus DPS estimate is 350.1, implying a prospective dividend yield of 9.7%. Current consensus EPS estimate suggests the PER is 13.0. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 173.82 cents and EPS of 365.85 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 369.3, implying annual growth of 32.8%. Current consensus DPS estimate is 233.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 9.8. |
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: $2.17
Citi rates BPT as Upgrade to Buy from Neutral (1) -
Upon initial analysis, Citi analysts had already expressed the view that market consensus will likely move higher following the release of FY19 financials. On second consideration, they have decided to upgrade to Buy from Neutral.
Earnings estimates have been lifted by 8-19%. The analysts do make the point they have incorporated future exploration success in their forecasts. Beach is hereby labeled the standout among E&P companies in Australia.
Citi analysts are of the view this company's portfolio could facilitate an accretive acceleration of growth. Within this framework, higher capex for the years ahead is a positive, they suggest. Price target lifts to $2.33 from $2.06.
Target price is $2.33 Current Price is $2.17 Difference: $0.16
If BPT meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.22, suggesting upside of 2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 4.00 cents and EPS of 29.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of 6.5%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 13.70 cents and EPS of 27.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of 2.6%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates BPT as Neutral (3) -
Beach Energy's FY19 result met the broker, and FY20 guidance outpaced by 8% thanks to a stronger production target.
Capital expenditure guidance across FY21-24 outpaced the broker by 45%, which will likely be allocated to boosting production given the company reported 204% reserve replacement following positive results at Western Flank.
On the downside, the broker fears lower contract price resets in FY20. Target rises to $2.11 from $2.02. Neutral rating retained.
Target price is $2.11 Current Price is $2.17 Difference: minus $0.06 (current price is over target).
If BPT 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 $2.22, suggesting upside of 2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 4.00 cents and EPS of 24.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of 6.5%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 4.00 cents and EPS of 27.95 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of 2.6%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BPT as Neutral (3) -
Beach energy posted a miss at the profit line but underlying earnings met expectation. FY20 guidance suggests significant upside although the broker is playing it more conservatively on production expectations.
Drilling success in FY20 is needed to de-risk and underpin a five-year production outlook which is currently below the broker's estimates. Neutral and $2.10 target retained.
Target price is $2.10 Current Price is $2.17 Difference: minus $0.07 (current price is over target).
If BPT meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.22, suggesting upside of 2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 2.50 cents and EPS of 27.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of 6.5%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 2.60 cents and EPS of 27.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of 2.6%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BPT as Equal-weight (3) -
Net profit in FY19 was below Morgan Stanley's estimates. Guidance for FY20 is in line with expectations, apart from capital expenditure, which is forecast to be higher and driven by expenditure in the Cooper Basin and Otway Basin.
The broker likes the longer-term outlook, although there is some risks regarding medium-term targets for free cash and production.
Target is reduced to $2.00 from $2.10. Equal-weight retained. Industry view: In-Line.
Target price is $2.00 Current Price is $2.17 Difference: minus $0.17 (current price is over target).
If BPT meets the Morgan Stanley target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.22, suggesting upside of 2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 2.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of 6.5%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 2.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of 2.6%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BPT as Buy (1) -
FY19 results were strong although somewhat overshadowed, Ord Minnett believes, by the announcement of an accelerated growth campaign.
Capital expenditure has been increased in order to fund around 7% per annum medium-term production growth, the broker assesses.
However, Ord Minnett gives credit to Beach Energy for discovering that amount of growth potential from assets that were previously starved of capital.
Buy rating maintained. Target is raised to $2.55 from $2.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.55 Current Price is $2.17 Difference: $0.38
If BPT meets the Ord Minnett target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $2.22, suggesting upside of 2.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 4.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of 6.5%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 8.0. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of 2.6%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 7.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $12.10
Citi rates BSL as Buy (1) -
FY19 results were in line with Citi's estimates but this was overshadowed by disappointing guidance for the first half. The bulk of the headwinds are expected to reverse by the second half although Citi suspects consensus downgrades are likely.
The North Star project offers medium-term growth and, with an ongoing share buyback due to re-start, Citi recommends buying the dips. Buy rating and $15 target reiterated.
Target price is $15.00 Current Price is $12.10 Difference: $2.9
If BSL meets the Citi target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $13.61, suggesting upside of 12.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 15.00 cents and EPS of 89.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 92.5, implying annual growth of -51.3%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 13.1. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 17.00 cents and EPS of 110.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.1, implying annual growth of 20.1%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 10.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates BSL as Outperform (1) -
BlueScope Steel's FY19 result met the broker but guidance proved a miss thanks to -$75m of impairments in the first-half. Elsewhere, the US$700m North Star expansion has been approved and commissioning is planned for December 2021.
Net cash came in at the top-end of guidance, providing cushioning against any sharp deterioration in steel spreads and funds for North Star.
Target price rises to $15.30 from $15. Outperform rating retained.
Target price is $15.30 Current Price is $12.10 Difference: $3.2
If BSL meets the Credit Suisse target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $13.61, suggesting upside of 12.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 14.00 cents and EPS of 90.51 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 92.5, implying annual growth of -51.3%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 13.1. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 14.00 cents and EPS of 134.94 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.1, implying annual growth of 20.1%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 10.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BSL as Overweight (1) -
FY19 results were in line with forecasts but guidance disappointed Morgan Stanley. This is now factored into the share price and the broker is looking for strong cash flow and further capital management to support an Overweight rating.
Management has formally approved the expansion of North Star for a total cost of -US$700m. Morgan Stanley reduces earnings (EBIT) forecast by -13% for FY20 and -4% for FY21. Target is reduced to $14.00 from $14.50. Industry view: Cautious.
Target price is $14.00 Current Price is $12.10 Difference: $1.9
If BSL meets the Morgan Stanley target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $13.61, suggesting upside of 12.5% (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 86.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 92.5, implying annual growth of -51.3%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 13.1. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 14.00 cents and EPS of 116.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.1, implying annual growth of 20.1%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 10.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BSL as Accumulate (2) -
FY19 net profit was ahead of Ord Minnett's forecasts. The outlook for the first half of FY20 is softer than expected, with an unfavourable -$75m impact flagged by the company for the Australian Steel Products business.
As earnings are now re-based, Ord Minnett believes investors should look favourably on the expansion of the highest quality asset, North Star, and note that around 70% of the total cost is already sitting in the bank.
Accumulate rating maintained. Target is reduced to $14.00 from $15.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $14.00 Current Price is $12.10 Difference: $1.9
If BSL meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $13.61, suggesting upside of 12.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 14.00 cents and EPS of 68.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 92.5, implying annual growth of -51.3%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 13.1. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 80.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.1, implying annual growth of 20.1%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 10.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates BSL as Neutral (3) -
FY19 earnings (EBIT) were in line with expectations. The composition of earnings was a negative surprise for UBS, nevertheless.
Building products in Asia & North America as well as New Zealand materially missed forecasts. A turnaround appears likely to be slow.
The broker reduces forecasts for the first half of FY20 by -11%. Neutral rating and $12.20 target maintained.
Target price is $12.20 Current Price is $12.10 Difference: $0.1
If BSL meets the UBS target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $13.61, suggesting upside of 12.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 10.00 cents and EPS of 94.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 92.5, implying annual growth of -51.3%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 13.1. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 12.00 cents and EPS of 114.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 111.1, implying annual growth of 20.1%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 10.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CCP CREDIT CORP GROUP LIMITED
Business & Consumer Credit
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Overnight Price: $28.34
Ord Minnett rates CCP as Hold (3) -
The company will acquire Baycorp for $65m, a reasonable price in Ord Minnett's view. The acquisition will mean a well-capitalised competitor exits the Australian market, improving the market structure, the broker observes.
Ord Minnett believes the business has a number of tailwinds over the next 12-18 months as supply conditions in the US improve, and given the competitive dynamics are likely to change in the Australian PDL market.
The broker expects the company to strategically deploy much of its financial headroom into strong returning assets. Hold rating maintained. Target is raised to $26.50 from $24.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $26.50 Current Price is $28.34 Difference: minus $1.84 (current price is over target).
If CCP meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 152.00 cents. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 168.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.35
Macquarie rates CQR as Underperform (5) -
Charter Hall Retail reported in line with expectation and guidance. FY20 guidance falls short, on more asset sales and higher insurance costs. The growth outlook should improve, the broker suggests, as asset recycling is completed and the balance sheet is redeployed.
However given a track record of earnings per share growth not matching underlying earnings growth, the broker remains cautious. Underperform retained, target falls to $3.90 from $4.13.
Target price is $3.90 Current Price is $4.35 Difference: minus $0.45 (current price is over target).
If CQR meets the Macquarie target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.08, suggesting downside of -6.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 29.00 cents and EPS of 30.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.3, implying annual growth of 142.3%. Current consensus DPS estimate is 29.0, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 29.60 cents and EPS of 31.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 31.9, implying annual growth of 1.9%. Current consensus DPS estimate is 29.8, implying a prospective dividend yield of 6.9%. Current consensus EPS estimate suggests the PER is 13.6. |
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ENN ELANOR INVESTORS GROUP
Wealth Management & Investments
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Overnight Price: $2.20
Ord Minnett rates ENN as Hold (3) -
Funds management revenue grew modestly but was behind Ord Minnett's forecasts as base management fees compressed. Institutional capital now accounts for a substantial portion of assets under management.
The broker expects institutional partnerships will drive an acceleration in growth and therefore considers the trade-off with lower fee margins a worthwhile investment.
The broker forecasts around $500m of inflows in FY20. Hold rating and $2.28 target maintained.
Target price is $2.28 Current Price is $2.20 Difference: $0.08
If ENN meets the Ord Minnett target it will return approximately 4% (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 16.30 cents and EPS of 14.80 cents. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 14.80 cents and EPS of 16.50 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.33
Citi rates GWA as Downgrade to Sell from Neutral (5) -
Citi downgrades to Sell from Neutral as industry forecasts suggest sectors relating to around 84% of the company's bathroom & kitchens sales are likely to weaken over the next year or two. Citi suspects organic growth will be hard to come by.
The broker considers the stock expensive given the limited organic growth profile. Forecasts for earnings per share are reduced by -8-11%. Target is lowered to $3.13 from $3.26.
Target price is $3.13 Current Price is $3.33 Difference: minus $0.2 (current price is over target).
If GWA meets the Citi target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.21, suggesting downside of -3.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 18.50 cents and EPS of 20.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of -43.9%. Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 19.00 cents and EPS of 22.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of 4.5%. Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates GWA as Neutral (3) -
GWA Group's FY19 result fell -2% shy of Credit Suisse EBIT forecasts. The Methven acquisition performed poorly.
Market share rose modestly but not enough to gain excitement for FY20, which is likely to be hit by the deferral of FY19 capital expense and foreign-exchange headwinds.
Target price falls to $3.10 from $3.50. Neutral rating retained.
Target price is $3.10 Current Price is $3.33 Difference: minus $0.23 (current price is over target).
If GWA 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 $3.21, suggesting downside of -3.6% (ex-dividends)
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 19.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of -43.9%. Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 17.50 cents and EPS of 20.69 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of 4.5%. Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates GWA as Neutral (3) -
GWA's result met the broker but fell short of consensus. The core Bathroom & Kitchen business remained robust but recently acquired Methven disappointed with a -33% drop in earnings largely reflecting weakness in NZ housing.
Methven appeared to be stabilising late in the period and will be a swing factor in FY20, the broker suggests.
The outlook is soft for B&K but cost-out opportunities can provide margin protection. Cash flow conversion was a highlight, leading to an increased dividend. The broker cuts forecasts on higher D&A and its target to $3.40 from $3.60, Neutral retained.
Target price is $3.40 Current Price is $3.33 Difference: $0.07
If GWA meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.21, suggesting downside of -3.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 18.00 cents and EPS of 19.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of -43.9%. Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 18.00 cents and EPS of 19.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of 4.5%. Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates GWA as Hold (3) -
FY19 results was slightly below forecasts. The main positive, Morgans assesses, was flat earnings from bathrooms & kitchens despite the weak housing market. This has led to profitable market share gains.
The main negative was Methven, with pro forma earnings (EBIT) down -33% because of weaker housing activity and delays in new product developments.
Morgans maintains a Hold rating, awaiting a sustained improvement in operating conditions. Target is reduced to $3.21 from $3.53.
Target price is $3.21 Current Price is $3.33 Difference: minus $0.12 (current price is over target).
If GWA meets the Morgans target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.21, suggesting downside of -3.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 19.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of -43.9%. Current consensus DPS estimate is 18.5, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 19.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of 4.5%. Current consensus DPS estimate is 18.4, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 15.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.00
Macquarie rates HLS as No Rating (-1) -
Healius' profit came in slightly below the broker, with gross cash flow falling -24%. FY20 guidance was not quantified other than to suggest higher than FY19. GP recruitment improved in the second half and pathology margins saw sequential improvement.
The broker is currently on research restriction.
Current Price is $3.00. Target price not assessed.
Current consensus price target is $3.24, suggesting upside of 8.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 8.50 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of 85.9%. Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 17.5. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 9.60 cents and EPS of 19.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.2, implying annual growth of 12.3%. Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HLS as Add (1) -
FY19 results were pre-released and devoid of major surprises, Morgans notes. However, revenue was considered soft. The broker is encouraged by the momentum in the second half across all core divisions.
Morgans lifts underlying estimates for net profit in FY20-22 by up to 5%. Add maintained. Target rises to $3.50 from $3.15.
Target price is $3.50 Current Price is $3.00 Difference: $0.5
If HLS meets the Morgans target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $3.24, suggesting upside of 8.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 10.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of 85.9%. Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 17.5. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 12.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.2, implying annual growth of 12.3%. Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.04
UBS rates IFM as Neutral (3) -
FY19 results were strong and largely in line with UBS estimates. The broker is excited about the revenue opportunities and the potential for the company to grow and monetise the data analytics/Nidasu opportunity.
Nevertheless, new revenue opportunities may require further investment in the cost base and the US restructure may take time. Neutral maintained. Target rises to $1.95 from $1.55.
Target price is $1.95 Current Price is $2.04 Difference: minus $0.09 (current price is over target).
If IFM meets the UBS target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 5.00 cents and EPS of 6.00 cents. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 6.00 cents and EPS of 7.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.34
UBS rates IMD as Buy (1) -
FY19 results were broadly in line with expectations. UBS found the outlook commentary incrementally positive. The broker adjusts expectations for the medium term to reflect a continuation of the current exploration environment.
The stock is considered undemanding and the risk skewed to the upside. Buy rating maintained. Target is reduced to $1.55 from $1.65.
Target price is $1.55 Current Price is $1.34 Difference: $0.21
If IMD 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 3.00 cents and EPS of 8.00 cents. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 3.00 cents and EPS of 9.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $15.76
Citi rates LLC as Buy (1) -
FY19 operating earnings (EBITDA) beat Citi's estimates. The broker lifts FY20-21 estimates by 1-6% to reflect the increased development backlog and a reduction in engineering losses.
The sale of engineering & services is progressing and, importantly, the broker notes the current level of provisions and estimated restructuring costs are unchanged. Buy rating maintained. Target rises to $17.90 from $17.00.
Target price is $17.90 Current Price is $15.76 Difference: $2.14
If LLC meets the Citi target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $16.99, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 70.10 cents and EPS of 140.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.6, implying annual growth of N/A. Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 78.30 cents and EPS of 156.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 133.0, implying annual growth of 0.3%. Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates LLC as Outperform (1) -
Lend Lease's FY19 result was in line with the broker and pre-announced provisioning. A review of the engineering backlog determined no new provisions would be forthcoming.
Meanwhile, the development backlog is rising, including the A$20bn Google project in San Francisco. Residential pre-sales were weak.
Funds under management rose 17% and the growth outlook is underpinned by the development pipeline. Earnings-per-share forecasts rise 9.1% for FY20 and fall -19.4% for FY21.
Target price rises to $16.83 from $16.20. Outperform rating retained.
Target price is $16.83 Current Price is $15.76 Difference: $1.07
If LLC meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $16.99, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 65.82 cents and EPS of 132.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.6, implying annual growth of N/A. Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 67.68 cents and EPS of 135.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 133.0, implying annual growth of 0.3%. Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates LLC as Outperform (1) -
The broker fails to provide an assessment of Lendlease's FY19 result, given focus on a lack of any more bad news regarding the engineering division. The sale has attracted good interest, management noted, and several parties are currently undertaking due diligence.
This swamps all it would appear, and clearly pleased the market. Along with visibility developing around the earnings benefits from the urban regeneration pipeline, and the launch of the next stage of residential at Barangaroo, the broker retains Outperform. Target rises to $16.41 from $16.01.
Target price is $16.41 Current Price is $15.76 Difference: $0.65
If LLC meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $16.99, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 65.20 cents and EPS of 131.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.6, implying annual growth of N/A. Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 64.50 cents and EPS of 129.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 133.0, implying annual growth of 0.3%. Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates LLC as Accumulate (2) -
FY19 net profit was ahead of Ord Minnett's forecasts. The broker considers the business is in a sound capital position, with gearing likely to peak at the mid point of the 10-20% target range. There is strong momentum in the development business.
The stock is trading below valuation, which assumes an orderly winding down of the engineering division and the sale of the services business. Accumulate rating maintained. Target is raised to $17.50 from $15.85.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $17.50 Current Price is $15.76 Difference: $1.74
If LLC meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $16.99, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 EPS of 136.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.6, implying annual growth of N/A. Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 117.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 133.0, implying annual growth of 0.3%. Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates LLC as Buy (1) -
FY19 development results, up 18%, were ahead of UBS estimates while construction, down -29%, was worse. Importantly, the company has announced no further provisions in engineering & services, noting the sales process is progressing.
In the event of a successful sale, the broker expects a material re-rating, as the market re-focuses on development and investment management. Buy rating maintained. Target rises to $16.30 from $15.70.
Target price is $16.30 Current Price is $15.76 Difference: $0.54
If LLC meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $16.99, suggesting upside of 7.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 61.90 cents and EPS of 123.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.6, implying annual growth of N/A. Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 63.60 cents and EPS of 127.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 133.0, implying annual growth of 0.3%. Current consensus DPS estimate is 68.5, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.8. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MND MONADELPHOUS GROUP LIMITED
Mining Sector Contracting
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Overnight Price: $17.92
Citi rates MND as Neutral (3) -
At face value, it appears Monadelphous's FY19 report marked a clear "miss", but Citi analysts, upon initial review, point out underlying the miss is only circa -2%. Management's outlook is never precise, but the analysts note references being made to project delays and increased competition weighing upon margins.
Target price is $16.80 Current Price is $17.92 Difference: minus $1.12 (current price is over target).
If MND meets the Citi target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $17.00, suggesting downside of -5.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 56.00 cents and EPS of 67.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 68.1, implying annual growth of -10.5%. Current consensus DPS estimate is 56.5, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 73.00 cents and EPS of 89.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 85.1, implying annual growth of 25.0%. Current consensus DPS estimate is 71.2, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 21.1. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $7.16
Citi rates NHF as Sell (5) -
Citi suspects earnings will fall in FY20, forecasting a -8% decline in profit mainly because of lower investment earnings and pressure on margins.
Initial guidance for FY20 underlying operating profit is around $200m, which compares with $201.8m in FY19. Citi maintains a Sell rating and lowers the target to $6.85 from $7.05.
Target price is $6.85 Current Price is $7.16 Difference: minus $0.31 (current price is over target).
If NHF meets the Citi target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 21.00 cents and EPS of 32.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 22.00 cents and EPS of 33.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates NHF as Underperform (5) -
Nib Holding's full-year result outpaced Credit Suisse by 7%. The broker believes maiden underlying operating profit guidance for FY20 was conservative.
Management noted that inflation was now exceeding revenue growth for the first time in four years.
The broker cuts FY20 estimates -0.5% to reflect Travel insurance downgrades and increases 1.3% in outer years.
Target price rises to $5.75 from $4.90 after removing the discount for equity raising and a delay in regulatory capital changes. Underperform rating retained.
Target price is $5.75 Current Price is $7.16 Difference: minus $1.41 (current price is over target).
If NHF meets the Credit Suisse target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 22.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 23.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NHF as Neutral (3) -
The broker saw a strong result from nib as the insurer continues to grow above system. FY20 guidance is in line. What spooked the market, the broker suggests, was 12-month rolling claims leading premium growth by some 4%.
Management, however, believes claims inflation will now peak and Macquarie believes the business has a number of initiatives to offset the recent uptick in claims performance. Target rises to $6.95 from $6.39, Neutral retained.
Target price is $6.95 Current Price is $7.16 Difference: minus $0.21 (current price is over target).
If NHF meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 20.50 cents and EPS of 33.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 20.40 cents and EPS of 34.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates NHF as Underweight (5) -
Morgan Stanley suggests the upgrade cycle is over and expectations of lower-for-longer claims are faltering while margins have peaked. The broker believes the market has largely overlooked the structural issues confronting the business.
The broker reiterates a cautious outlook, being disappointed with the soft 6% net margin guidance. Net profit estimates for FY20 are downgraded by -3%.
Rating is Underweight. Target is reduced to $5.80 from $6.00. Industry view: In-line.
Target price is $5.80 Current Price is $7.16 Difference: minus $1.36 (current price is over target).
If NHF meets the Morgan Stanley target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 23.00 cents and EPS of 31.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 23.50 cents and EPS of 34.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates NHF as Hold (3) -
FY19 net profit was broadly in line with expectations. Morgans wonders whether there is some conservatism in setting guidance for FY20 underlying operating profit at "at least $200m" against a fourth quarter spike in claims inflation.
The broker reduces FY20-21 estimates for earnings per share by -5-6%. Hold maintained, as the stock is considered fair value at this point in the cycle with industry margins at cyclical highs. Target is reduced to $6.85 from $7.15.
Target price is $6.85 Current Price is $7.16 Difference: minus $0.31 (current price is over target).
If NHF meets the Morgans target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 22.00 cents and EPS of 35.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 23.00 cents and EPS of 36.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NHF as Upgrade to Hold from Sell (3) -
FY19 net profit was in line with Ord Minnett's forecasts. The company has flagged signs of increased claims inflation but Ord Minnett finds no discernible trends at this stage.
The broker believes the company can achieve above-system revenue growth in Australian Residents Health Insurance (ARHI) through policyholder growth.
Rating is upgraded to Hold from Sell as the share price has fallen -12.5% since the end of July. Target is raised to $6.97 from $6.58.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $6.97 Current Price is $7.16 Difference: minus $0.19 (current price is over target).
If NHF meets the Ord Minnett target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 20.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 22.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates NHF as Downgrade to Sell from Neutral (5) -
FY19 results were largely in line with UBS estimates. The emergence of higher hospital claims inflation over the fourth quarter along with a reduction in premium rates points to margin compression ahead, the broker asserts.
With lower bond yields and an earnings headwind in FY20, the broker downgrades to Sell from Neutral. Target is raised to $6.40 from $5.80.
Target price is $6.40 Current Price is $7.16 Difference: minus $0.76 (current price is over target).
If NHF meets the UBS target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.51, suggesting downside of -9.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 23.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 21.6, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 23.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.7, implying annual growth of 2.7%. Current consensus DPS estimate is 22.4, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 20.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NWL NETWEALTH GROUP LIMITED
Wealth Management & Investments
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Overnight Price: $7.61
Citi rates NWL as Neutral (3) -
FY19 results were solid, Citi assesses. Net flows are expected to pick up in FY20, driven by market share gains as well as an improvement in adviser activity levels.
A Neutral rating is maintained, as downside risks are envisaged to overall industry pricing, particularly as cash rates head lower. Target is reduced to $8.00 from $8.10.
Target price is $8.00 Current Price is $7.61 Difference: $0.39
If NWL meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $7.68, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 14.50 cents and EPS of 18.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 17.50 cents and EPS of 21.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates NWL as Neutral (3) -
Netwealth Group's FY19 result was 2% ahead of consensus and 3% above Credit Suisse, thanks to tight cost management which led to a beat on margin guidance.
Guidance missed the broker thanks to higher cost forecasts due to investment and lower margins.
Earnings-per-share forecasts fall -12% in FY20 and -15% in FY21-22 to reflect margins over costs. Target price falls to $7.60 from $8.62. Neutral rating retained.
Target price is $7.60 Current Price is $7.61 Difference: minus $0.01 (current price is over target).
If NWL meets the Credit Suisse target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.68, 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 14.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 17.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NWL as Underperform (5) -
Netwealth's result came in ahead of expectation on a beat on costs, but costs will step up in FY20, Macquarie notes, to accommodate growth, and hence margins will tighten.
It will be challenging for the company to take market share in funds while maintaining investment levels, the broker warns.
The key risk is being able to execute in new revenue streams, while further RBA cuts will increase costs to the client across the industry. Target rises to $6.20 from $6.05, Underperform retained.
Target price is $6.20 Current Price is $7.61 Difference: minus $1.41 (current price is over target).
If NWL meets the Macquarie target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.68, suggesting upside of 0.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 12.00 cents and EPS of 17.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 14.20 cents and EPS of 20.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates NWL as Hold (3) -
FY19 net profit was in line with expectations. The outlook statement has confirmed current trends, Morgans suggests, with strong growth in funds under administration and potential new business. This is partially offset by ongoing pricing pressure.
Morgans considers the strong and sustainable growth profile attractive but prefers to have a higher margin of safety in valuation before taking a more positive view. Hold maintained. Target is reduced to $8.07 from $8.86.
Target price is $8.07 Current Price is $7.61 Difference: $0.46
If NWL meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.68, 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 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 17.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NWL as Upgrade to Buy from Accumulate (1) -
The company achieved record flows and reported growth of 18% in revenue and 24% in earnings per share in FY19. Ord Minnett expects earnings growth to compound over the next five years and upgrades to Buy from Accumulate.
The broker assesses the structural momentum will mean funds under administration quadruple over the next eight years. Target is reduced to $8.95 from $9.59.
Target price is $8.95 Current Price is $7.61 Difference: $1.34
If NWL meets the Ord Minnett target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $7.68, 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 dividend of 15.30 cents and EPS of 18.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 19.80 cents and EPS of 23.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates NWL as Upgrade to Neutral from Sell (3) -
FY19 operating earnings (EBITDA) were largely in line with UBS estimates. The broker expects flows to lift and considers the company better positioned to absorb ongoing revenue margin pressures, particularly if new third-party platform competitors emerge, or there are further reductions to official rates.
UBS upgrades to Neutral from Sell and reduces the target to $7.25 from $7.65. With the stock now trading at 39.8x PE, the bottom end of its historical range, downside risks appear more moderate.
Target price is $7.25 Current Price is $7.61 Difference: minus $0.36 (current price is over target).
If NWL 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 $7.68, 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 14.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of N/A. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 42.3. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 18.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.7, implying annual growth of 20.6%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 35.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $21.36
UBS rates NWS as Buy (1) -
Fourth quarter results were slightly below UBS estimates. The broker lowers FY20 forecasts for operating earnings (EBITDA) by -3.1%, driven in large part by lower Australian dollar assumptions.
The focus remains on simplifying the company structure, although the broker notes information on the News America Marketing review was limited.
UBS suspects the market is undervaluing the company's "stub". Buy rating maintained. Target rises to $23.75 from $21.25.
Target price is $23.75 Current Price is $21.36 Difference: $2.39
If NWS meets the UBS target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $22.76, suggesting upside of 6.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 28.21 cents and EPS of 66.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 66.7, implying annual growth of N/A. Current consensus DPS estimate is 28.1, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 32.0. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 28.21 cents and EPS of 66.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 77.0, implying annual growth of 15.4%. Current consensus DPS estimate is 29.5, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 27.7. |
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: $6.57
Citi rates OSH as Neutral (3) -
Following initial appraisal of today's interim report, it appears the financial performance was a lot better than what Citi analysts had penciled in, but there is a timing issue with earthquake remediation recoveries in play, it turns out.
Underlying, it seems today's performance met market expectations while the declared dividend is slightly better and prior guidance has been reiterated. Citi thinks the stock appears fairly priced, and then there is ongoing risk increasing for the Papua LNG venture.
Target price is $7.01 Current Price is $6.57 Difference: $0.44
If OSH meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $7.82, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 18.34 cents and EPS of 40.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.7, implying annual growth of N/A. Current consensus DPS estimate is 17.9, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 21.02 cents and EPS of 45.27 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 47.2, implying annual growth of 18.9%. Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 13.9. |
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
Overnight Price: $5.23
Citi rates RRL as Sell (5) -
FY19 results were in line with expectations. Citi retains a positive view on the gold price but maintains a Sell rating based on valuation.
The broker's assumptions for AUD/USD in FY20 have increased to US$0.72 from US$0.68, which reduces FY20 estimates for earnings per share by -10% and lowers the target to $4.70 from $4.85.
Target price is $4.70 Current Price is $5.23 Difference: minus $0.53 (current price is over target).
If RRL meets the Citi target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.86, suggesting downside of -7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 22.00 cents and EPS of 43.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 22.00 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of -2.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates RRL as Underperform (5) -
Regis Resources' FY19 result was broadly in line with Credit Suisse. FY20 guidance is for flat production at higher cost.
Catalysts will be McPhillamy's permitting advancement (due in September), success at extending the Duketon mine life and the gold price.
Target price steady at $3.90. Broker retains an Underperform rating, believing the stock is expensive.
Target price is $3.90 Current Price is $5.23 Difference: minus $1.33 (current price is over target).
If RRL meets the Credit Suisse target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.86, suggesting downside of -7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 12.94 cents and EPS of 28.76 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 10.56 cents and EPS of 23.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of -2.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates RRL as Underperform (5) -
While Regis Resources' profit fell -10% short of Macquarie's forecast on higher D&A, earnings were in line. A flat dividend was also as expected.
The miner is heading into a transitional FY20, the broker notes, with a maiden underground operation under development at Duketon and approvals underway for its second prospective production centre at McPhillamys.
Underperform and $5.10 target retained.
Target price is $5.10 Current Price is $5.23 Difference: minus $0.13 (current price is over target).
If RRL 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 $4.86, suggesting downside of -7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 11.00 cents and EPS of 28.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 8.00 cents and EPS of 22.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of -2.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates RRL as Underweight (5) -
FY19 results were in line with Morgan Stanley's estimates. Operating cash flow exceeded estimates, largely because of working capital movements.
Guidance for FY20 was flagged at the June quarter production result, the broker notes. Underweight rating maintained. Target is $4.65. Industry view is Attractive.
Target price is $4.65 Current Price is $5.23 Difference: minus $0.58 (current price is over target).
If RRL meets the Morgan Stanley target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.86, suggesting downside of -7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 16.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 15.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of -2.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates RRL as Sell (5) -
FY19 results were in line with expectations. UBS notes the company is generating good cash and remains a relatively low operating risk miner with a 4% dividend yield.
However, a Sell rating is maintained on valuation amid the ongoing delay and expenditure risk at McPhillamys.
Economics of mining at Duketon are also becoming more challenging from a mix of lower grades, longer haulage and higher strip ratios. Target is $4.85.
Target price is $4.85 Current Price is $5.23 Difference: minus $0.38 (current price is over target).
If RRL meets the UBS target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.86, suggesting downside of -7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 21.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 21.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of -2.6%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SAR SARACEN MINERAL HOLDINGS LIMITED
Gold & Silver
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Overnight Price: $3.58
Citi rates SAR as Sell (5) -
FY19 results with in line with expectations, having been largely pre-released. The recent resource update has provided some clarity on the outlook, with 400,000 ounces per annum expected.
This will be delivered by the expansion at Carosue Dam and productivity at Thunderbox underground. Reserves have lifted 32%. Sell rating retained on valuation. Target is raised to $3.55 from $3.30.
Target price is $3.55 Current Price is $3.58 Difference: minus $0.03 (current price is over target).
If SAR meets the Citi target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 7.00 cents and EPS of 22.50 cents. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 7.00 cents and EPS of 24.50 cents. |
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SAR as Underperform (5) -
Saracen Mineral's record profit met expectation, as did earnings. A maiden dividend will be granted on a 20-40% payout policy, provided cash exceeds $150m, which Macquarie sees as achievable by year-end.
FY20 will be another growth year, the broker notes, with the development of Thunderbox underground and mill expansion at Carosue dam key to unlocking the targeted production run-rate from FY21.
Underperform and $3.30 target retained.
Target price is $3.30 Current Price is $3.58 Difference: minus $0.28 (current price is over target).
If SAR meets the Macquarie target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of 22.50 cents. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 2.00 cents and EPS of 23.80 cents. |
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $28.63
Citi rates SHL as Neutral (3) -
Following initial review, Sonic Healthcare's FY19 report seems to have missed market consensus by some -2%. Guidance requires a number of bits and pieces to properly assess. Citi analysts don't expect many changes to market consensus forecasts post the release.
Target price is $29.50 Current Price is $28.63 Difference: $0.87
If SHL meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $27.24, suggesting downside of -4.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 84.00 cents and EPS of 117.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 116.3, implying annual growth of 3.3%. Current consensus DPS estimate is 84.1, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 92.00 cents and EPS of 126.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.7, implying annual growth of 7.2%. Current consensus DPS estimate is 90.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 23.0. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SIQ SMARTGROUP CORPORATION LTD
Vehicle Leasing & Salary Packaging
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Overnight Price: $10.80
Macquarie rates SIQ as Outperform (1) -
Despite difficult trading conditions in the auto market, Smartgroup's result came in slightly ahead of the broker, with underlying organic growth, and from a margin perspective the company continues to deliver efficiencies and business improvement.
Greater confidence in the business leads the broker to increase its PE multiple valuation, taking its target up to $11.66 from $10.53. Outperform retained.
Target price is $11.66 Current Price is $10.80 Difference: $0.86
If SIQ meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $10.64, suggesting downside of -1.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 63.60 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.6, implying annual growth of 27.6%. Current consensus DPS estimate is 53.3, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.1. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 45.30 cents and EPS of 64.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.0, implying annual growth of 5.7%. Current consensus DPS estimate is 46.4, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SIQ as Upgrade to Add from Hold (1) -
First half net profit was in line with forecasts. Topline growth was slightly better than Morgans expected. The broker believes the strong cash flow and low gearing provides options for acquisitions or capital management in the medium term.
The broker considers the valuation relatively undemanding, and there is upside risk over the next 12-18 months. Morgans upgrades to Add from Hold and raises the target to $10.15 from $9.50.
Target price is $10.15 Current Price is $10.80 Difference: minus $0.65 (current price is over target).
If SIQ meets the Morgans target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $10.64, suggesting downside of -1.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 44.00 cents and EPS of 63.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.6, implying annual growth of 27.6%. Current consensus DPS estimate is 53.3, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 18.1. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 45.00 cents and EPS of 67.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.0, implying annual growth of 5.7%. Current consensus DPS estimate is 46.4, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $15.00
Macquarie rates TCL as Neutral (3) -
Traffic data suggest a weak June for Transurban, with a negative M2 trend, which may play into a tough first quarter, the broker suggests.
But the current driver of the business is less about dividend growth and more about exercising growth options and subsequent funding requirements.
At this stage the broker believes these options are captured in the share price. Neutral and $15.26 target retained.
Target price is $15.26 Current Price is $15.00 Difference: $0.26
If TCL meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $14.50, suggesting downside of -3.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 62.00 cents and EPS of 54.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.6, implying annual growth of 242.4%. Current consensus DPS estimate is 62.0, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 66.4. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 65.00 cents and EPS of 60.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.3, implying annual growth of 20.8%. Current consensus DPS estimate is 65.1, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 54.9. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $27.99
Morgan Stanley rates WBC as Equal-weight (3) -
Westpac has provided a credit quality and capital update for the June quarter. Morgan Stanley notes no detail on earnings trends but third quarter profit appears to be in line with, or slightly below, estimates.
The broker notes stressed assets increased 10 basis points, mainly because of higher mortgage arrears and a small increase in "watch-list" loans in retail, manufacturing and property.
Equal-weight maintained. Target is $26.60. Industry view: In Line.
Target price is $26.60 Current Price is $27.99 Difference: minus $1.39 (current price is over target).
If WBC meets the Morgan Stanley target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $28.50, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 188.00 cents and EPS of 202.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 204.3, implying annual growth of -13.5%. Current consensus DPS estimate is 186.0, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 13.7. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 188.00 cents and EPS of 210.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 222.5, implying annual growth of 8.9%. Current consensus DPS estimate is 184.1, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 12.6. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WBC as Add (1) -
Westpac has indicated credit quality remains sound and the CET1 ratio of 10.5% is broadly in line with expectations. Morgans continues to expect a dividend reinvestment plan with a -1.5% discount will operate in respect of the final dividend for FY19.
The broker reduces cash earnings forecast by -0.2% and -0.6% for FY19 and FY20 respectively, largely because of lower loan growth forecasts. Add rating and $33 target maintained.
Target price is $33.00 Current Price is $27.99 Difference: $5.01
If WBC meets the Morgans target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $28.50, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 188.00 cents and EPS of 216.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 204.3, implying annual growth of -13.5%. Current consensus DPS estimate is 186.0, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 13.7. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 188.00 cents and EPS of 253.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 222.5, implying annual growth of 8.9%. Current consensus DPS estimate is 184.1, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 12.6. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WBC as Hold (3) -
Ord Minnett found some signs of credit quality deterioration in the regulatory capital update, albeit in line with expectations. Most of the rise in stressed assets related to higher mortgage arrears, while the actual loss rate in mortgages remains very low.
Another area of softness was "watch-list"/sub-standard loans, particularly in the retail, manufacturing and property sectors.
The broker maintains a Hold rating and trims the target to $28.30 from $28.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $28.30 Current Price is $27.99 Difference: $0.31
If WBC meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $28.50, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 188.00 cents and EPS of 204.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 204.3, implying annual growth of -13.5%. Current consensus DPS estimate is 186.0, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 13.7. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 188.00 cents and EPS of 220.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 222.5, implying annual growth of 8.9%. Current consensus DPS estimate is 184.1, implying a prospective dividend yield of 6.6%. Current consensus EPS estimate suggests the PER is 12.6. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
WGN WAGNERS HOLDING COMPANY LIMITED
Building Products & Services
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Overnight Price: $1.49
Credit Suisse rates WGN as Outperform (1) -
Wagners Holding Company's FY19 result was -2% shy of consensus and at the bottom end of revised-down, low-quality guidance.
The broker notes that growth investment continues, the company now targeting higher-than-forecast revenue growth.
The Boral ((BLD)) court dispute is scheduled for September 16/17 and the broker models a -10% decline thereafter should Wagner succeed.
Target price falls to $2.40 from $2.80. Outperform retained given the perceived breadth of opportunity and near-term catalysts.
Target price is $2.40 Current Price is $1.49 Difference: $0.91
If WGN meets the Credit Suisse target it will return approximately 61% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 24.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 0.00 cents and EPS of 6.43 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.7, implying annual growth of N/A. Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 19.4. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 4.50 cents and EPS of 9.11 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.1, implying annual growth of 31.2%. Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 14.8. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WGN as Hold (3) -
FY19 earnings (EBIT) were marginally higher than Morgans expected. Recent weakness in east coast construction has meant the stock has aggressively de-rated and the broker suspects this has uncovered value.
However, Morgans is cautious ahead of the upcoming court decision on the Boral ((BLD)) pricing dispute. The broker maintains a Hold rating and reduces the target to $1.63 from $2.08.
Target price is $1.63 Current Price is $1.49 Difference: $0.14
If WGN meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 24.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 2.20 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.7, implying annual growth of N/A. Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 19.4. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 5.40 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.1, implying annual growth of 31.2%. Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 14.8. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $32.30
Macquarie rates WPL as Neutral (3) -
Following a round table with Woodside management, the broker retains Neutral and a $33.30 target.
JVs for Browse and Scarborough are critical to production growth and while negotiations are ongoing, risks remain. Weakness in energy prices also adds further risk.
Target price is $33.30 Current Price is $32.30 Difference: $1
If WPL meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $33.28, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 138.24 cents and EPS of 172.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 194.0, implying annual growth of N/A. Current consensus DPS estimate is 153.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 156.58 cents and EPS of 197.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 254.1, implying annual growth of 31.0%. Current consensus DPS estimate is 197.6, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 12.7. |
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
Today's Price Target Changes
| Company | Broker | New Target | Prev Target | Change | |
| ALU | ALTIUM | Ord Minnett | 29.59 | 26.51 | 11.62% |
| BPT | BEACH ENERGY | Citi | 2.33 | 2.06 | 13.11% |
| Credit Suisse | 2.11 | 2.02 | 4.46% | ||
| Morgan Stanley | 2.00 | 2.10 | -4.76% | ||
| Ord Minnett | 2.55 | 2.50 | 2.00% | ||
| BSL | BLUESCOPE STEEL | Credit Suisse | 15.30 | 15.00 | 2.00% |
| Morgan Stanley | 14.00 | 14.50 | -3.45% | ||
| Ord Minnett | 14.00 | 15.50 | -9.68% | ||
| CCP | CREDIT CORP | Ord Minnett | 26.50 | 24.50 | 8.16% |
| CQR | CHARTER HALL RETAIL | Macquarie | 3.90 | 4.13 | -5.57% |
| GWA | GWA GROUP | Citi | 3.13 | 3.26 | -3.99% |
| Credit Suisse | 3.10 | 3.50 | -11.43% | ||
| Macquarie | 3.40 | 3.60 | -5.56% | ||
| Morgans | 3.21 | 3.53 | -9.07% | ||
| HLS | HEALIUS | Morgans | 3.50 | 3.15 | 11.11% |
| IFM | INFOMEDIA | UBS | 1.95 | 1.55 | 25.81% |
| IMD | IMDEX | UBS | 1.55 | 1.65 | -6.06% |
| LLC | LENDLEASE | Citi | 17.90 | 15.05 | 18.94% |
| Credit Suisse | 16.83 | 16.20 | 3.89% | ||
| Macquarie | 16.41 | 16.01 | 2.50% | ||
| Ord Minnett | 17.50 | 15.85 | 10.41% | ||
| UBS | 16.30 | 15.70 | 3.82% | ||
| NHF | NIB HOLDINGS | Citi | 6.85 | 7.05 | -2.84% |
| Credit Suisse | 5.75 | 4.90 | 17.35% | ||
| Macquarie | 6.95 | 6.39 | 8.76% | ||
| Morgan Stanley | 5.80 | 6.00 | -3.33% | ||
| Morgans | 6.85 | 7.15 | -4.20% | ||
| Ord Minnett | 6.97 | 6.58 | 5.93% | ||
| UBS | 6.40 | 5.80 | 10.34% | ||
| NWL | NETWEALTH GROUP | Citi | 8.00 | 8.10 | -1.23% |
| Credit Suisse | 7.60 | 8.65 | -12.14% | ||
| Macquarie | 6.20 | 6.05 | 2.48% | ||
| Morgans | 8.07 | 8.86 | -8.92% | ||
| Ord Minnett | 8.95 | 9.57 | -6.48% | ||
| UBS | 7.25 | 7.65 | -5.23% | ||
| NWS | NEWS CORP | UBS | 23.75 | 21.25 | 11.76% |
| RRL | REGIS RESOURCES | Citi | 4.70 | 4.85 | -3.09% |
| SAR | SARACEN MINERAL | Citi | 3.55 | 3.30 | 7.58% |
| SIQ | SMARTGROUP | Macquarie | 11.66 | 10.53 | 10.73% |
| Morgans | 10.15 | 9.50 | 6.84% | ||
| WBC | WESTPAC BANKING | Ord Minnett | 28.30 | 28.50 | -0.70% |
| WGN | WAGNERS HOLDING | Credit Suisse | 2.40 | 2.80 | -14.29% |
| Morgans | 1.63 | 2.08 | -21.63% |
Summaries
| ALU | ALTIUM | Upgrade to Neutral from Underperform - Macquarie | Overnight Price $35.69 |
| Hold - Ord Minnett | Overnight Price $35.69 | ||
| BHP | BHP | Outperform - Macquarie | Overnight Price $36.22 |
| Hold - Ord Minnett | Overnight Price $36.22 | ||
| BPT | BEACH ENERGY | Upgrade to Buy from Neutral - Citi | Overnight Price $2.17 |
| Neutral - Credit Suisse | Overnight Price $2.17 | ||
| Neutral - Macquarie | Overnight Price $2.17 | ||
| Equal-weight - Morgan Stanley | Overnight Price $2.17 | ||
| Buy - Ord Minnett | Overnight Price $2.17 | ||
| BSL | BLUESCOPE STEEL | Buy - Citi | Overnight Price $12.10 |
| Outperform - Credit Suisse | Overnight Price $12.10 | ||
| Overweight - Morgan Stanley | Overnight Price $12.10 | ||
| Accumulate - Ord Minnett | Overnight Price $12.10 | ||
| Neutral - UBS | Overnight Price $12.10 | ||
| CCP | CREDIT CORP | Hold - Ord Minnett | Overnight Price $28.34 |
| CQR | CHARTER HALL RETAIL | Underperform - Macquarie | Overnight Price $4.35 |
| ENN | ELANOR INVESTORS | Hold - Ord Minnett | Overnight Price $2.20 |
| GWA | GWA GROUP | Downgrade to Sell from Neutral - Citi | Overnight Price $3.33 |
| Neutral - Credit Suisse | Overnight Price $3.33 | ||
| Neutral - Macquarie | Overnight Price $3.33 | ||
| Hold - Morgans | Overnight Price $3.33 | ||
| HLS | HEALIUS | No Rating - Macquarie | Overnight Price $3.00 |
| Add - Morgans | Overnight Price $3.00 | ||
| IFM | INFOMEDIA | Neutral - UBS | Overnight Price $2.04 |
| IMD | IMDEX | Buy - UBS | Overnight Price $1.34 |
| LLC | LENDLEASE | Buy - Citi | Overnight Price $15.76 |
| Outperform - Credit Suisse | Overnight Price $15.76 | ||
| Outperform - Macquarie | Overnight Price $15.76 | ||
| Accumulate - Ord Minnett | Overnight Price $15.76 | ||
| Buy - UBS | Overnight Price $15.76 | ||
| MND | MONADELPHOUS GROUP | Neutral - Citi | Overnight Price $17.92 |
| NHF | NIB HOLDINGS | Sell - Citi | Overnight Price $7.16 |
| Underperform - Credit Suisse | Overnight Price $7.16 | ||
| Neutral - Macquarie | Overnight Price $7.16 | ||
| Underweight - Morgan Stanley | Overnight Price $7.16 | ||
| Hold - Morgans | Overnight Price $7.16 | ||
| Upgrade to Hold from Sell - Ord Minnett | Overnight Price $7.16 | ||
| Downgrade to Sell from Neutral - UBS | Overnight Price $7.16 | ||
| NWL | NETWEALTH GROUP | Neutral - Citi | Overnight Price $7.61 |
| Neutral - Credit Suisse | Overnight Price $7.61 | ||
| Underperform - Macquarie | Overnight Price $7.61 | ||
| Hold - Morgans | Overnight Price $7.61 | ||
| Upgrade to Buy from Accumulate - Ord Minnett | Overnight Price $7.61 | ||
| Upgrade to Neutral from Sell - UBS | Overnight Price $7.61 | ||
| NWS | NEWS CORP | Buy - UBS | Overnight Price $21.36 |
| OSH | OIL SEARCH | Neutral - Citi | Overnight Price $6.57 |
| RRL | REGIS RESOURCES | Sell - Citi | Overnight Price $5.23 |
| Underperform - Credit Suisse | Overnight Price $5.23 | ||
| Underperform - Macquarie | Overnight Price $5.23 | ||
| Underweight - Morgan Stanley | Overnight Price $5.23 | ||
| Sell - UBS | Overnight Price $5.23 | ||
| SAR | SARACEN MINERAL | Sell - Citi | Overnight Price $3.58 |
| Underperform - Macquarie | Overnight Price $3.58 | ||
| SHL | SONIC HEALTHCARE | Neutral - Citi | Overnight Price $28.63 |
| SIQ | SMARTGROUP | Outperform - Macquarie | Overnight Price $10.80 |
| Upgrade to Add from Hold - Morgans | Overnight Price $10.80 | ||
| TCL | TRANSURBAN GROUP | Neutral - Macquarie | Overnight Price $15.00 |
| WBC | WESTPAC BANKING | Equal-weight - Morgan Stanley | Overnight Price $27.99 |
| Add - Morgans | Overnight Price $27.99 | ||
| Hold - Ord Minnett | Overnight Price $27.99 | ||
| WGN | WAGNERS HOLDING | Outperform - Credit Suisse | Overnight Price $1.49 |
| Hold - Morgans | Overnight Price $1.49 | ||
| WPL | WOODSIDE PETROLEUM | Neutral - Macquarie | Overnight Price $32.30 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 18 |
| 2. Accumulate | 2 |
| 3. Hold | 28 |
| 5. Sell | 14 |
Tuesday 20 August 2019
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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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