Australian Broker Call
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January 28, 2021
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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: 07:13 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
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Today's Upgrades and Downgrades
ALX - | Atlas Arteria | Upgrade to Add from Hold | Morgans |
CPU - | Computershare | Downgrade to Neutral from Buy | UBS |
ILU - | Iluka Resources | Downgrade to Underperform from Neutral | Credit Suisse |
ORE - | Orocobre | Downgrade to Neutral from Buy | Citi |
Downgrade to Underperform from Neutral | Credit Suisse | ||
RWC - | Reliance Worldwide | Upgrade to Buy from Accumulate | Ord Minnett |
SBM - | St Barbara | Upgrade to Neutral from Underperform | Macquarie |
TNE - | Technologyone | Upgrade to Buy from Sell | UBS |
WPL - | Woodside Petroleum | Downgrade to Neutral from Buy | UBS |
Overnight Price: $3.89
Credit Suisse rates 360 as Outperform (1) -
Life360's growth trajectory moderated in covid with the core features of its product not so relevant in a lower mobility environment, notes an unsurprised Credit Suisse. Still, the broker is very pleased the company was able to add users in the second-half.
December quarter revenue jumped by 39%, ending at the top end of management's guidance range with operating cash outflow also less than feared. New membership cohorts were on track with management expectations with 152k new and upsell subscribers.
Looking ahead, the broker sees August's back-to-school period as an important catalyst.
Outperform rating. Target is reduced slightly to $4.50 from $4.70.
Target price is $4.50 Current Price is $3.89 Difference: $0.61
If 360 meets the Credit Suisse target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 14.19 cents. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 19.53 cents. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.79
Macquarie rates AFG as Outperform (1) -
Macquarie upgrades forecasts for Australian Finance Group on increasing margin assumptions, to reflect a lower bank bill swap rate (BBSW).
The broker explains, RBA policy is supporting the low BBSW rate. Macquarie expects the current conditions to remain over the second half, and to normalise during FY22.
The analyst lifts EPS forecasts for FY21-23 by 17.3%,11.5% and 4.9%, respectively, to reflect revised margin, settlement activity and book growth estimates.
The Outperform rating is unchanged and the target is lifted to $3.03 from $2.56.
Target price is $3.03 Current Price is $2.79 Difference: $0.24
If AFG meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $2.91, suggesting upside of 7.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 11.30 cents and EPS of 16.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of -2.3%. Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 11.40 cents and EPS of 15.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.2, implying annual growth of 7.7%. Current consensus DPS estimate is 12.4, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
AHY ASALEO CARE LIMITED
Household & Personal Products
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Overnight Price: $1.32
Credit Suisse rates AHY as Outperform (1) -
In its latest update, Asaleo Care formally rejected Essity's $1.26 per share cash offer. The company's operating income for 2020 was almost in-line with Credit Suisse's forecast. The broker considers the quality of earnings good.
Margin is expected to improve in 2022 with synergy from its Toms segment. On the flip side, pulp costs are forecast to rise by 10% in 2021 due to shortage in China and pose a risk.
Credit Suisse keeps its target at $1.50 and maintains the Outperform rating.
Target price is $1.50 Current Price is $1.32 Difference: $0.18
If AHY meets the Credit Suisse target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 1.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 3.00 cents and EPS of 7.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.1, implying annual growth of 73.2%. Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 18.6. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 5.60 cents and EPS of 7.49 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.5, implying annual growth of 5.6%. Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 17.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.08
Macquarie rates ALX as Neutral (3) -
Atlas Arteria's fourth quarter traffic update revealed that APRR slightly beat Macquarie's forecast, with a boost from truck traffic.
The broker explains the effects of covid are still impacting the broader roads and this will continue into January. While there are now concerns of a third national lockdown in France, it's considered roads are able to bounce back quickly as these restrictions are removed.
The Neutral rating is unchanged and the target is lowered to $6.10 from $6.34.
Target price is $6.10 Current Price is $6.08 Difference: $0.02
If ALX meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $6.70, suggesting upside of 8.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 11.00 cents and EPS of 52.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of 496.0%. Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 41.5. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 31.00 cents and EPS of 69.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.5, implying annual growth of 131.5%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates ALX as Upgrade to Add from Hold (1) -
Second half revenue for Atlas Arteria was 5-7% ahead of Morgans forecasts, leading to upgrades for the broker's FY20-21 local currency earnings (EBITDA) estimates.
The broker also upgrades the rating to Add, with a potential 12 month total return of around 12%, comprising 7% upside and around 5% yield.
Fourth quarter traffic and toll revenue continued to be impacted by covid-19-related movement restrictions.
The target price is decreased to $6.51 from $6.74, with the uptrend in AUDEUR and AUDUSD offsetting the benefit of short-term forecast upgrades.
The company’s FY20 result release is scheduled for 25 February.
Target price is $6.51 Current Price is $6.08 Difference: $0.43
If ALX meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $6.70, suggesting upside of 8.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 11.00 cents and EPS of 0.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of 496.0%. Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 41.5. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 31.00 cents and EPS of 0.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.5, implying annual growth of 131.5%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ALX as Neutral (3) -
Falls in traffic and tolls on the APRR in France and the Dulles Greenway in the US in the December quarter were not as extensive as the broker feared, while still meaningful following what had been a reasonable comeback in the September quarter.
Covid-led re-lockdowns were the cause, and at this stage it appears the March quarter will be similarly weak. The broker sees downside risk to its Dulles forecasts but this does not impact on cash flow expectations, as dividends will likely be pushed out to 2024.
On the other hand, the APRR dividend might be better than forecast. The broker notes liquidty is not an issue for Atlas Arteria given conservative gearing. Neutral and $6.10 target retained.
Target price is $6.10 Current Price is $6.08 Difference: $0.02
If ALX meets the UBS target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $6.70, suggesting upside of 8.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of 496.0%. Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 41.5. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.5, implying annual growth of 131.5%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components
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Overnight Price: $13.42
Macquarie rates APE as Neutral (3) -
Eagers Automotive has increased guidance for the upcoming FY20 result, as vehicle sales continued their recovery and supply constraints eased.
While Macquarie expects margins to remain elevated to begin 2021, this would need to extend further in time for earnings upgrades to drive more material share price upside.
The broker lifts EPS forecasts for FY20 and FY21 by 9.8% and 8.0%, respectively, due to increased margins in the second half FY20
and first half FY21.
The Neutral rating is unchanged and the target increased to $14.30 from $13.85.
Target price is $14.30 Current Price is $13.42 Difference: $0.88
If APE meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $13.96, suggesting upside of 5.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of 57.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of N/A. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 26.6. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 20.40 cents and EPS of 70.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.2, implying annual growth of 27.4%. Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates APE as Overweight (1) -
Eagers Automotive upgraded its 2020 profit before tax guidance to $209.4m from $195-$205m driven by better car/truck retailing.
Morgan Stanley considers Eagers Automotive as its key pick with market expectations for 2021 already underpinned by the strategic initiatives delivered in 2020 and material upside risk from any cyclical rebound.
Overweight retained. Target is $17. Industry view: In-Line.
Target price is $17.00 Current Price is $13.42 Difference: $3.58
If APE meets the Morgan Stanley target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $13.96, suggesting upside of 5.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 0.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of N/A. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 26.6. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 50.10 cents and EPS of 66.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.2, implying annual growth of 27.4%. Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates APE as Add (1) -
Eagers Automotive will report FY20 profit (NPBT) of $209.4m, up 108% year-on-year, and above recently provided guidance of $195-205m.
Morgans lifts EPS forecasts by 4% in FY20, but leaves FY21/22 forecasts unchanged.
The broker maintains an Add rating and $15.05 price target, with the prospect of another strong growth year in 2021.
Additionally, the analyst highlights national new car volumes are still well below ‘normalised’ levels and there is optionality around the group’s used car/EA123 strategy.
Morgans sees further upside given the likelihood of continued earnings momentum.
Target price is $15.05 Current Price is $13.42 Difference: $1.63
If APE meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $13.96, suggesting upside of 5.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 21.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of N/A. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 26.6. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 52.00 cents and EPS of 75.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.2, implying annual growth of 27.4%. Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates APE as Buy (1) -
Eagers Automotive has provided yet another forecast-beating trading update, underpinned by rebounding new vehicle sales, strong pricing and cost reductions, the broker notes. The broker expects similar conditions to continue through the March quarter.
The broker sees supply tightness continuing to at least May, and while the market will be wary of pricing in super-normal profits for too long, the broker does not see a fall back to FY19 levels, and continued outperformance for now.
Buy and $15.00 target retained.
Target price is $15.00 Current Price is $13.42 Difference: $1.58
If APE meets the UBS target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $13.96, suggesting upside of 5.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 11.00 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 49.6, implying annual growth of N/A. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 26.6. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 48.00 cents and EPS of 67.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.2, implying annual growth of 27.4%. Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $72.66
Citi rates ASX as Sell (5) -
In a review of diversified financials prior to the reporting season, analysts at Citi see a risk ASX will need to increase costs and capex
guidance.
The upward pressure on costs is due to the need to address issues from the recent outage, and the delay and recent expansion in scope of its CHESS replacement project, explains the broker.
The analyst forecasts first half earnings (EPS) to fall around -5% on pcp to $1.23, impacted by elevated cost growth, slowing revenue momentum and sharply lower net interest income.
The Sell rating and $68 target are unchanged.
Target price is $68.00 Current Price is $72.66 Difference: minus $4.66 (current price is over target).
If ASX 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 $71.72, suggesting upside of 0.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 219.30 cents and EPS of 243.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 248.0, implying annual growth of -3.7%. Current consensus DPS estimate is 223.5, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 28.8. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 221.90 cents and EPS of 246.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 253.8, implying annual growth of 2.3%. Current consensus DPS estimate is 228.5, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 28.1. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $16.52
Macquarie rates AUB as Outperform (1) -
AUB Group has disposed of the shareholding in Altius Group and recognised a $10m post-tax net profit.
Macquarie notes the impact of the transaction had been factored into previous FY21 guidance and the gain on disposal will be excluded from underlying profit (NPAT).
Price target is reduced to $18.23 from $18.57 and Outperform is unchanged.
Target price is $18.23 Current Price is $16.52 Difference: $1.71
If AUB meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $18.88, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 53.00 cents and EPS of 83.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 79.9, implying annual growth of 24.6%. Current consensus DPS estimate is 53.3, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 19.9. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 52.00 cents and EPS of 86.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 83.3, implying annual growth of 4.3%. Current consensus DPS estimate is 54.7, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BKG BOOKTOPIA GROUP LIMITED
Online media & mobile platforms
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Overnight Price: $2.90
Morgans rates BKG as Add (1) -
Booktopia Group released a trading update for the first half, revealing 52% revenue growth on the previous corresponding period. This is considered to result from the move of the consumer online and likely market share gains.
Given earnings (EBITDA) are now 85% of FY21 prospectus forecasts, the broker believes the company guidance of remaining ‘ontrack to meet’ them is highly conservative.
Morgans continues to believe the company is a compelling proposition for reasons including a growing online book market and a demonstrated ability to gain market share. In addition, it’s now considered to have improving operating leverage.
The Add rating is maintained and the target price is increased to $3.48 from $3.17.
Target price is $3.48 Current Price is $2.90 Difference: $0.58
If BKG meets the Morgans target it will return approximately 20% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 0.00 cents and EPS of 2.80 cents. |
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 0.00 cents and EPS of 4.40 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.76
Citi rates BPT as Neutral (3) -
Second quarter revenue was -8% below Citi's estimates on soft production, partially offset by strong gas pricing.
Production and sales were both -9% misses versus the broker, as a result of weaker production in the Cooper basin from weather related outages, and a 22-day turnaround in the Otway basin.
After the analyst adjusts for the recent acquisition of Cooper basin assets, the FY21 profit (NPAT) forecast rises 15%.
The Neutral rating is unchanged and the target is increased to $1.98 from $1.94.
Target price is $1.98 Current Price is $1.76 Difference: $0.22
If BPT meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 3.00 cents and EPS of 17.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 3.00 cents and EPS of 26.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates BPT as Outperform (1) -
With second-quarter production toward the lower end of Beach Energy's guidance and a delay to price review catalyst, Credit Suisse feels there isn’t much to look forward to this quarter. Maybe the guidance touted as conservative isn't really that conservative, adds the broker.
Even so, the result is not particularly negative with the production drop expected to reverse in FY22. The broker still likes Beach Energy in anticipation of the Lattice price review outcome.
Outperform retained. Target rises to $2.07 from $1.95.
Target price is $2.07 Current Price is $1.76 Difference: $0.31
If BPT meets the Credit Suisse target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 2.00 cents and EPS of 14.84 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 2.00 cents and EPS of 22.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BPT as Outperform (1) -
The company's second quarter was a little stronger than Macquarie expected, as market concerns around Western Flank oil declines are considered overdone.
The broker notes another bolt-on acquisition, which consolidates Bass Basin ahead of the Trefoil development, and expects M&A activity around Kupe could be next.
The Outperform rating is unchanged and the target increased to $2.30 from $2.00 to reflect increased forecasts from the Bass Basin
acquisition, and higher long-term production.
Target price is $2.30 Current Price is $1.76 Difference: $0.54
If BPT meets the Macquarie target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 2.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 2.10 cents and EPS of 17.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
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) -
Morgan Stanley notes Beach Energy's second-quarter production results were lower than anticipated driven by downtime at Otway and BassGas operations along with lower production from the Cooper Basin.
Catalysts to watch for in FY21 include the outcome of the Otway contract repricing, updated production guidance and the potential for further M&A, suggests the broker.
Equal-weight retained for Beach Energy with a target of $1.75.
Target price is $1.75 Current Price is $1.76 Difference: minus $0.01 (current price is over target).
If BPT meets the Morgan Stanley target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 2.00 cents and EPS of 14.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 2.00 cents and EPS of 17.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BPT as Add (1) -
Morgans was surprised by the -8% quarter-on-quarter drop in production, with gas production falling by -11% and oil by -10%. LPG volumes increased, but gas, oil and condensate make up the majority of production, explains the broker.
The analyst maintains an Add rating and revises the price target down to $2.14 from $2.25, based on lower volumes this year and higher net debt.
In addition, there's a need for higher sustaining capital expenditure to offset a higher forecasted field decline across the remaining asset life, explains the broker.
Target price is $2.14 Current Price is $1.76 Difference: $0.38
If BPT meets the Morgans target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 2.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 2.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BPT as Buy (1) -
Beach Energy's December quarter production was weak, observes Ord Minnett, with most key metrics below expectations. The company's guidance remains intact.
With management re-invigorating growth, the broker expects capital expenditure to increase in the second half of FY21.
Buy recommendation on Beach Energy with a $2.25 target price.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.25 Current Price is $1.76 Difference: $0.49
If BPT meets the Ord Minnett target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $2.08, suggesting upside of 21.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 2.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.3, implying annual growth of -30.4%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 11.2. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 2.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.9, implying annual growth of 30.1%. Current consensus DPS estimate is 2.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 8.6. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.11
Morgan Stanley rates CCX as Overweight (1) -
Morgan Stanley sees upside risk to City Chic Collective's first-half sales growth given trading updates from multiple other retailers indicate higher demand for apparel in Australia and New Zealand
The broker thinks while the company's dress business may take some time to return to pre-covid levels, it has been able to offset this with an increase in casual wear. The company is also considered well-positioned for further highly accretive M&A.
Overweight rating with a target of $4.50. Industry view is In-line.
Target price is $4.50 Current Price is $4.11 Difference: $0.39
If CCX meets the Morgan Stanley target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $4.27, suggesting upside of 6.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 0.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.9, implying annual growth of 85.4%. Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.5%. Current consensus EPS estimate suggests the PER is 44.8. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 0.00 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.9, implying annual growth of 33.7%. Current consensus DPS estimate is 5.2, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CGF CHALLENGER LIMITED
Wealth Management & Investments
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Overnight Price: $6.92
Citi rates CGF as Neutral (3) -
In a review of diversified financials prior to the reporting season, analysts at Citi forecast normalised profit (NPBT) will be down -26% on the pcp. This reflects a sharp fall in Life earnings (EBIT) margins, explains the analyst.
The fall in Life earnings are mainly a result of a change in normalised capital growth, given the move towards more conservative assets, explains the broker.
The analyst expects retail annuity sales to rise 7% in the first half on the pcp following a strong first quarter.
The Neutral rating and $7 target are unchanged.
Target price is $7.00 Current Price is $6.92 Difference: $0.08
If CGF meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $6.12, suggesting downside of -8.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 21.00 cents and EPS of 47.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 37.9, implying annual growth of N/A. Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 17.7. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 25.50 cents and EPS of 45.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.7, implying annual growth of 10.0%. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 16.1. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.64
Macquarie rates CHN as Outperform (1) -
Macquarie highlights Chalice Gold Mines has confirmed the discovery of a number of new higher grade zones at Julimar in the latest drilling update.
Further drilling results and metallurgical test work outcomes are key catalysts ahead of the maiden resource being released later this year, explains the broker.
The Outperform rating and $5.40 target are unchanged.
Target price is $5.40 Current Price is $4.64 Difference: $0.76
If CHN meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 8.20 cents. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 18.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $14.60
Citi rates CPU as Sell (5) -
In a review of diversified financials prior to the reporting season, analysts at Citi think it likely Computershare will reiterate full-year guidance. However, it's considered there are likely headwinds in the second half that put the full-year guidance in doubt.
The analyst forecasts first half earnings (EPS) to fall around -25% year-on-year, on an actual foreign exchange basis.
Citi believes the half will be mixed, with support from improved corporate actions activity and equity trading volumes. Overriding headwinds are expected to include sharply lower margin income and lower revenue from UK and US mortgage servicing.
The Sell rating and $12 target are unchanged.
Target price is $12.00 Current Price is $14.60 Difference: minus $2.6 (current price is over target).
If CPU meets the Citi target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $14.18, suggesting downside of -1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 47.65 cents and EPS of 74.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.0, implying annual growth of N/A. Current consensus DPS estimate is 46.7, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 22.1. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 52.24 cents and EPS of 82.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 72.0, implying annual growth of 10.8%. Current consensus DPS estimate is 47.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 20.0. |
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
UBS rates CPU as Downgrade to Neutral from Buy (3) -
UBS has resumed coverage of Computershare having last updated in May last year, downgrading to Neutral from Buy. Target rises to $15.00 from $12.30.
The broker notes the stock has in the past traded at up to a -20% discount in an market downgrade cycle and a 40% premium in a recovery, implying significant upside on an earnings recovery. But not yet.
Uncertainty remains globally and 95% of earnings are derived offshore, hence the strong AUD is a headwind.
Target price is $15.00 Current Price is $14.60 Difference: $0.4
If CPU meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $14.18, suggesting downside of -1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 47.36 cents and EPS of 73.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.0, implying annual growth of N/A. Current consensus DPS estimate is 46.7, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 22.1. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 50.23 cents and EPS of 77.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 72.0, implying annual growth of 10.8%. Current consensus DPS estimate is 47.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 20.0. |
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: $1.69
Ord Minnett rates CRW as Buy (1) -
Cashrewards' quarterly report showed a higher than expected jump in both total members and active members over the quarter. Post its IPO, Cashrewards has about $40m of cash on its balance sheet considered sufficient by Ord Minnett for growth.
Over the next 18 months, the broker expects a period of member growth of 59% with the company's capital being deployed. The broker also highlights the potential for ANZ Bank ((ANZ)) to strengthen its investment in Cashrewards via a strategic agreement.
Buy rating with a target of $2.20.
Target price is $2.20 Current Price is $1.69 Difference: $0.51
If CRW meets the Ord Minnett target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 18.70 cents. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 20.50 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CSL CSL LIMITED
Pharmaceuticals & Biotech/Lifesciences
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Overnight Price: $275.20
Macquarie rates CSL as Neutral (3) -
Despite continuing to see plasma collection as presenting headwinds for CSL Behring, Macquarie sees trends for the US influenza season as incrementally favourable for Seqirus in FY21.
Outpatient visits for influenza-like-illness (ILI) and influenza hospitalisations in the US for 2020-21 to date are below prior seasons, explains the broker.
The Neutral rating is unchanged and the target increases to $290 from $289.
Target price is $290.00 Current Price is $275.20 Difference: $14.8
If CSL meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $310.77, suggesting upside of 16.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 317.16 cents and EPS of 733.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 639.4, implying annual growth of N/A. Current consensus DPS estimate is 280.0, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 41.7. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 351.32 cents and EPS of 781.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 701.1, implying annual growth of 9.6%. Current consensus DPS estimate is 315.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 38.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates CSL as Equal-weight (3) -
CSL's non-executive director Pascal Soriot has resigned from this position to avoid potential future conflict of interest that may arise from the acquisition of Alexion by AstraZeneca.
Alexion's acquisition of Portola Pharmaceuticals gave the company access to Andexxa which, according to Morgan Stanley, is a potential disruptive agent to CSL's Kcentra.
Equal-weight rating and $294 price target. Industry view: In-line.
Target price is $294.00 Current Price is $275.20 Difference: $18.8
If CSL meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $310.77, suggesting upside of 16.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 EPS of 707.52 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 639.4, implying annual growth of N/A. Current consensus DPS estimate is 280.0, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 41.7. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 EPS of 710.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 701.1, implying annual growth of 9.6%. Current consensus DPS estimate is 315.3, implying a prospective dividend yield of 1.2%. Current consensus EPS estimate suggests the PER is 38.1. |
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: $0.30
Macquarie rates CVN as Neutral (3) -
Carnarvon Petroleum reported its December quarterly, and also announced the 25-50% farm-out of its 100% owned Buffalo oil project (Timor Sea). The buyer is UK company Advance Energy, pending an equity raise.
The analyst's FY21 EPS forecast loss is larger due to first half foreign exchange losses, while FY22-FY23 EPS estimates are up by 2% and 4%, respectively, on lower administrative costs.
The price target increases to $0.31 from $0.30 on the Buffalo farm-out. The Neutral rating is unchanged.
Target price is $0.31 Current Price is $0.30 Difference: $0.01
If CVN meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 0.40 cents. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.30 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.45
Morgan Stanley rates DTC as Overweight (1) -
Damstra Holdings' profitability was on track in the second quarter, while gross margin expanded to 77%. The company noted 32 new customer wins in the second quarter, up 10% versus last quarter.
Even with these positives, Morgan Stanley sees downside risk to FY21 guidance led by a skew towards the second half and fx related headwinds. The broker is also unsure of Vault’s contribution to the quarter.
Overweight rating. Target is $2. Industry view: In-line.
Target price is $2.00 Current Price is $1.45 Difference: $0.55
If DTC meets the Morgan Stanley target it will return approximately 38% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 0.00 cents and EPS of 0.30 cents. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 0.00 cents and EPS of 2.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $27.25
Ord Minnett rates EQT as No Rating (-1) -
Ord Minnett predicts a strong year for EQT Holdings looking at the recovery in equity markets, client wins in superannuation and progress in the corporate trustee services division.
The company will report its first-half result in February and Ord Minnett expects cash net profit of $10.6m, up 36%, along with an interim dividend of 44cps.
Over the longer term, the broker anticipates change across many areas of Australia’s financial services sector that will likely provide EQT Holdings opportunities as a trustee provider with a heritage brand and excellent track record.
Buy with a target of $36.
Target price is $36.00 Current Price is $27.25 Difference: $8.75
If EQT meets the Ord Minnett target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 92.50 cents and EPS of 114.60 cents. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 100.50 cents and EPS of 125.50 cents. |
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.65
Credit Suisse rates ILU as Downgrade to Underperform from Neutral (5) -
Credit Suisse is happy staying on the sidelines and downgrades its rating to Underperform from Neutral. Target rises to $5.60 from $5.35.
The December quarter for Iluka Resources was a bit of a mixed bag, says Credit Suisse, noting strong zircon sales circa 20% above the broker's forecast.
While the result has prompted the broker to lift its 2020 earnings expectations by 28%, Credit Suisse believes it may still be too early for the company to reinstate its suspended dividend. The broker sees the dividend resuming in August.
Target price is $5.60 Current Price is $6.65 Difference: minus $1.05 (current price is over target).
If ILU meets the Credit Suisse target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.11, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 0.00 cents and EPS of 46.52 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.4, implying annual growth of N/A. Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 18.00 cents and EPS of 54.72 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.5, implying annual growth of 0.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ILU as Neutral (3) -
Macquarie considers Iluka Resources's fourth quarter results for zircon, rutile and synthetic rutile were strong. Sales were 51% higher than the broker had forecast, while production estimates were exceeded by 57%.
Macquarie highlights realised pricing was steady and was marginally better than forecast.
The analyst now expects sales volumes to recover faster, which has driven 30-40% earnings upgrades for the period 2022-2025.
The price target lifts to $6.70 from $5.60 and the Neutral rating is unchanged.
Target price is $6.70 Current Price is $6.65 Difference: $0.05
If ILU meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $6.11, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of 43.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.4, implying annual growth of N/A. Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 26.00 cents and EPS of 30.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.5, implying annual growth of 0.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ILU as Equal-weight (3) -
In 2020, the production and sale of zircon, rutile and synthetic rutile were 2% and 7% higher than expected although overall revenue per tonne was -2% versus the broker on weaker realised prices. Production costs were in-line but cost of goods sold was 11% higher.
The broker notes the deal with the International Finance Corporation (IFC) has now changed with IFC to own 10% of Sierra Rutile without any consideration.
Equal weight. Target price rises to $5.55 from $5.20. Industry view: Attractive.
Target price is $5.55 Current Price is $6.65 Difference: minus $1.1 (current price is over target).
If ILU meets the Morgan Stanley target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.11, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 3.70 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.4, implying annual growth of N/A. Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 27.10 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.5, implying annual growth of 0.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ILU as Hold (3) -
Ord Minnett notes Iluka Resources reported marginally weaker production, sales and realised prices for the December quarter.
The broker forecasts a strong rebound to 626kt in production and 686kt in sales for zinc/rutile/synthetic rutile as the company draws down its synthetic rutile inventory with plans to suspend its kiln for three to six months to reduce stocks.
Hold maintained. Target is raised to $6.30 from $6 due to higher closing inventory valuation and cost-savings opportunities.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $6.30 Current Price is $6.65 Difference: minus $0.35 (current price is over target).
If ILU meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.11, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 0.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.4, implying annual growth of N/A. Current consensus DPS estimate is 0.8, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 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 42.5, implying annual growth of 0.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 15.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
JHG JANUS HENDERSON GROUP PLC.
Wealth Management & Investments
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Overnight Price: $41.84
Citi rates JHG as Buy (1) -
In a review of diversified financials prior to the reporting season, analysts at Citi expect a new cost-out program, and an improvement in non-Intech institutional flows.
The broker sees the company as relatively inexpensive with a strong dividend yield and flow trends that should improve in time.
The Buy rating and $45.80 target are unchanged.
Target price is $45.80 Current Price is $41.84 Difference: $3.96
If JHG meets the Citi target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $40.60, suggesting upside of 0.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 206.66 cents and EPS of 392.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 351.4, implying annual growth of N/A. Current consensus DPS estimate is 191.4, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 11.5. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 206.66 cents and EPS of 428.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 350.3, implying annual growth of -0.3%. Current consensus DPS estimate is 186.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 11.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $1.09
Macquarie rates MCR as Outperform (1) -
Macquarie sees material upside to base case assumptions for Mincor Resources via exploration success, as the company is set to return to producer status in early 2022.
Development has commenced at both Cassini and Durkin North.
After incorporating second quarter results, the broker leaves forecasts largely unchanged. The Outperform rating and $1.40 target are also unchanged.
Target price is $1.40 Current Price is $1.09 Difference: $0.31
If MCR meets the Macquarie target it will return approximately 28% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 3.80 cents. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 0.00 cents and EPS of 3.50 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MQG MACQUARIE GROUP LIMITED
Wealth Management & Investments
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Overnight Price: $135.64
Morgan Stanley rates MQG as Overweight (1) -
Morgan Stanley expects Macquarie Group's third-quarter profit to be broadly in-line with last year's figures. The broker does not expect the group to provide FY21 guidance given there remains some uncertainty and considering FY21 is a rebuilding year.
Even so, better market conditions and ongoing structural tailwinds have the broker confident the group will meet or beat FY21 consensus (Morgan Stanley is almost 5% ahead of consensus).
Overweight rating and In-Line industry view maintained. Target rises to $155 from $148.
Target price is $155.00 Current Price is $135.64 Difference: $19.36
If MQG meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $139.00, suggesting upside of 4.2% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 365.00 cents and EPS of 616.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 616.2, implying annual growth of -22.1%. Current consensus DPS estimate is 380.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.6. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 570.00 cents and EPS of 801.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 790.1, implying annual growth of 28.2%. Current consensus DPS estimate is 546.8, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 16.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.28
Morgan Stanley rates NTO as Overweight (1) -
Nitro Software exceeded Morgan Stanley's expectations in its December quarter report with FY20 annual recurring revenue (ARR) and the operating loss better than expected by the broker.
The broker considers the subscription revenue and ARR beats as high quality given it was delivered by new customers and higher customer usage.
Noting the result showed strong organic growth and the company has more ARR tailwinds, Morgan Stanley retains its Overweight rating with a target of $3.50. Industry view: In-line.
Target price is $3.50 Current Price is $3.28 Difference: $0.22
If NTO meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 5.74 cents. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 5.74 cents. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.66
UBS rates NUF as Buy (1) -
After a difficult FY20, agricultural conditions have swung to favourable in FY21, as noted in several industry body forecasts. Not just in Australia, but in all of Nufarm's key regions, the broker notes.
Add in increases in soft commodity prices, and farmer sentiment is rapidly rising. The broker has increased forecasts and lifted its target to $5.50 from $5.30. Buy retained.
Target price is $5.50 Current Price is $4.66 Difference: $0.84
If NUF meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $5.00, suggesting upside of 5.2% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 0.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.4, implying annual growth of N/A. Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 0.5%. Current consensus EPS estimate suggests the PER is 41.7. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 5.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.2, implying annual growth of 77.2%. Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 23.5. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $5.81
Citi rates ORE as Downgrade to Neutral from Buy (3) -
The operating performance at Olaroz improved quarter-on-quarter, with December quarter production up 58% and sales up 28%. This beat Citi's estimates by 31% and 53%, respectively.
The broker revises up FY21 earnings estimates to account for better price realisation and cost performance.
The target rises to $6.75 from $5 and the rating is downgraded to Neutral from Buy. The current share price (up 137% since its November lows) is now pricing in much of this upside, explains the analyst.
Target price is $6.75 Current Price is $5.81 Difference: $0.94
If ORE meets the Citi target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting downside of -23.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 5.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 0.00 cents and EPS of 5.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 140.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ORE as Downgrade to Underperform from Neutral (5) -
Orocobre's production in the December quarter was up 58% quarter on quarter and the third-highest on record, with sales volumes up 28%.
Credit Suisse highlights the market focus is shifting to growth with an increase in global EV sales strengthening the outlook for lithium demand, better prices, and improvement in sentiment toward battery materials.
The company's longer-term growth opportunity includes the acquired Cauchari ground.
Post the latest rally, Credit Suisse decides to downgrade its rating to Underperform from Neutral with the target rising to $5 from $2.85.
Target price is $5.00 Current Price is $5.81 Difference: minus $0.81 (current price is over target).
If ORE meets the Credit Suisse target it will return approximately minus 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.38, suggesting downside of -23.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 12.72 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 3.13 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 140.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ORE as Equal-weight (3) -
Morgan Stanley observes Orocobre's second quarter was strong in terms of operating income and sales even though pricing was weaker.
The broker expects future production to continue to benefit from better brine quality. The company is Morgan Stanley's preferred lithium exposure.
Equal-weight rating. Industry view: Attractive. Target is unchanged at $3.35.
Target price is $3.35 Current Price is $5.81 Difference: minus $2.46 (current price is over target).
If ORE meets the Morgan Stanley target it will return approximately minus 42% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.38, suggesting downside of -23.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 18.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 17.22 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 140.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ORE as Hold (3) -
Orocobre delivered a strong December-quarter production report despite covid, observes Ord Minnett, with production rebounding to 3,727t at cash costs of US$3,623/t.
Production and sales were both well ahead of Ord Minnett’s forecast and the broker has increased its production and sales expectations for FY21 by 20%. However, the realised price is expected to be at a significant discount.
Hold rating is retained with the target rising to $5.30 from $4.60.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $5.30 Current Price is $5.81 Difference: minus $0.51 (current price is over target).
If ORE meets the Ord Minnett target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.38, suggesting downside of -23.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 0.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 140.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.88
UBS rates ORG as Buy (1) -
The broker has lifted its Brent price forecasts to [all US$/bbl] 57 from 50 for 2021, 60 from 55 for 2022 and 60 from 57.50 for 2023.
While the broker was not anticipating a return to strict mobility restrictions around the globe in the first half 21, the underlying assumption of a vaccine-led recovery is unchanged and supported by vaccine developments and OPEC-Plus supply agreements.
Origin Energys target rises to $6.65 from $6.60, Buy retained.
Target price is $6.65 Current Price is $4.88 Difference: $1.77
If ORG meets the UBS target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $6.11, suggesting upside of 26.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 26.00 cents and EPS of 35.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.4, implying annual growth of 440.4%. Current consensus DPS estimate is 19.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 28.50 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.4, implying annual growth of 15.7%. Current consensus DPS estimate is 23.1, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.16
Citi rates OSH as Neutral (3) -
Fourth quarter net debt was higher than Citi's estimate, potentially related to lower revenue and higher cost guidance. It's considered a working capital build, as commodity prices rose, was also a contributor.
The analyst highlights revenue was an -18% miss on soft production/sales volumes, a less oily sales mix and weaker gas/LNG pricing.
The price target is decreased to $4.38 from $4.45. Rating remains Neutral.
Target price is $4.38 Current Price is $4.16 Difference: $0.22
If OSH meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 1.00 cents and EPS of 0.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 7.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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
Credit Suisse rates OSH as Underperform (5) -
Credit Suisse retains its Underperform rating with the target rising to $3.61 from $3.10.
Oil Search's second half production beat was offset by soft LNG pricing and higher opex guidance. FY21 production guidance is lower due to both PNG oil (decline) and PNG LNG (major maintenance).
Credit Suisse takes a cautious approach to Oil Search largely due to the long term PNG/LNG capex and decline risks, a lack of conviction on Alaska selldown and final investment decisions and an unproven management team in the wake of management churn.
Target price is $3.61 Current Price is $4.16 Difference: minus $0.55 (current price is over target).
If OSH meets the Credit Suisse target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 0.00 cents and EPS of 1.11 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 6.75 cents and EPS of 26.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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
Macquarie rates OSH as Underperform (5) -
Oil Search released fourth quarter results that were a little below Macquarie's expectations, on lower PNG oil production levels, though
PNG LNG continues to perform very well.
2021 guidance was in-line with the broker's forecasts.
Macquarie maintains an Underperform rating and believes the company is vulnerable to any correction in oil prices, given its premium valuation. Target price is $3.50.
Target price is $3.50 Current Price is $4.16 Difference: minus $0.66 (current price is over target).
If OSH meets the Macquarie target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 1.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 3.20 cents and EPS of 7.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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
Morgan Stanley rates OSH as Equal-weight (3) -
Oil Search's December quarter production results showed lower than expected revenue led by lower realised LNG pricing. FY21 guidance points to lower production of 25.5-28.5mmboe versus 28-29mmboe provided in November.
Some key catalysts include a sell-down (-15%) of Alaska by final investment decision and more certainty on the timing for Papua LNG, suggests the broker.
Morgan Stanley states the oil price is the key driver since Oil Search retains the most leverage to rising oil prices. Equal-weight retained with a target of $4.00. Industry view: Attractive.
Target price is $4.00 Current Price is $4.16 Difference: minus $0.16 (current price is over target).
If OSH meets the Morgan Stanley target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 0.00 cents and EPS of 1.44 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 4.85 cents and EPS of 14.35 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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
Morgans rates OSH as Hold (3) -
Oil Search posted a fourth quarter result largely in-line with Morgans' estimates, apart from the better-than-expected result from PNG operations. This was driven by the restart of production from the Moran field.
The company confirmed that production costs in 2020 will be within its guidance, while stating 2021 guidance is for lower LNG production due to maintenance.
The broker attributes a meaningful part of the company’s premium multiple to the PNG expansion, and warns this exposes investors to high political risk.
The Hold rating is unchanged and the target price is decreased to $4 from $4.10.
Target price is $4.00 Current Price is $4.16 Difference: minus $0.16 (current price is over target).
If OSH 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 $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 0.00 cents and EPS of 2.87 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 4.31 cents and EPS of 15.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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 OSH as Buy (1) -
Despite Oil Search's quarterly and 2021 production guidance coming in broadly in line with estimates, Ord Minnett has lowered its net profit forecasts due to higher operating costs. The broker is well below consensus for 2020-22.
Even so, there is no change to Ord Minnett's positive view of the stock as it considers Oil Search the most leveraged exploration and production company under its coverage.
Buy recommendation with the target reducing to $4.40 from $4.58, supported by attractive valuation and top-tier assets, according to the broker.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $4.40 Current Price is $4.16 Difference: $0.24
If OSH meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 0.00 cents and EPS of minus 4.31 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 0.00 cents and EPS of 8.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates OSH as Neutral (3) -
The broker has lifted its Brent price forecasts to [all US$/bbl] 57 from 50 for 2021, 60 from 55 for 2022 and 60 from 57.50 for 2023.
While the broker was not anticipating a return to strict mobility restrictions around the globe in the first half 21, the underlying assumption of a vaccine-led recovery is unchanged and supported by vaccine developments and OPEC-Plus supply agreements.
Oil Search's target rises to $4.10 from $3.70, Neutral retained.
However, Oil Search has subsequently posted a weak December quarter production report, leading the broker to place its rating and target under review.
Target price is $4.10 Current Price is $4.16 Difference: minus $0.06 (current price is over target).
If OSH meets the UBS target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.00, suggesting downside of -0.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 4.31 cents and EPS of 14.93 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.9, implying annual growth of N/A. Current consensus DPS estimate is 0.7, implying a prospective dividend yield of 0.2%. Current consensus EPS estimate suggests the PER is 137.9. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 8.61 cents and EPS of 23.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 455.2%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.8. |
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
PMV PREMIER INVESTMENTS LIMITED
Apparel & Footwear
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Overnight Price: $22.76
Ord Minnett rates PMV as Initiation of coverage with Hold (3) -
Ord Minnett initiates coverage on Premier Investments with a Hold rating and a target price of $24.
The broker notes Premier Investments is a strong performing Australian specialty retailer with a portfolio of brands including Peter Alexander and Smiggle. Furthermore, operating margin expansion is supported by online growth in higher-margin Peter Alexander and Smiggle.
The stepping down of its retail CEO adds uncertainty and is considered negative, especially for Smiggle.
Target price is $24.00 Current Price is $22.76 Difference: $1.24
If PMV meets the Ord Minnett target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $24.77, suggesting upside of 10.1% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 145.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 132.9, implying annual growth of 53.0%. Current consensus DPS estimate is 94.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 EPS of 122.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 114.2, implying annual growth of -14.1%. Current consensus DPS estimate is 86.7, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPT PERPETUAL LIMITED
Wealth Management & Investments
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Overnight Price: $33.19
Citi rates PPT as Neutral (3) -
In a review of diversified financials prior to the reporting season, analysts at Citi see core profit of $52m and EPS of 92 cents. Year-on-year comparisons are expected to be affected by the first contribution from recent acquisitions, and the equity raising for the Barrow acquisition.
The broker expects investors’ focus is likely to be on the result’s composition, integration updates and the growth outlook for Barrow Hanley.
The Neutral rating and target price of $32.80 are unchanged.
Target price is $32.80 Current Price is $33.19 Difference: minus $0.39 (current price is over target).
If PPT meets the Citi target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $36.09, suggesting upside of 12.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Citi forecasts a full year FY21 dividend of 170.00 cents and EPS of 205.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 207.8, implying annual growth of 17.9%. Current consensus DPS estimate is 155.4, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.4. |
Forecast for FY22:
Citi forecasts a full year FY22 dividend of 185.00 cents and EPS of 234.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 244.9, implying annual growth of 17.9%. Current consensus DPS estimate is 186.4, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 13.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates PPT as Hold (3) -
Perpetual reported second-quarter funds under management (FUM) with net outflows of -$3.4bn. Ord Minnett notes market movements were positive with many of the company's funds seeing a turnaround in their quarterly performance.
On the flip side, AUD played spoilsport with $5.6bn uplift in FUM offset by -$4.0bn due to fx related headwinds. The broker expects the market to remain cautious with respect to value accretion from Perpetual’s recent acquisitions until there are signs of a turnaround inflows.
Hold maintained. Target falls to $33 from $33.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $33.00 Current Price is $33.19 Difference: minus $0.19 (current price is over target).
If PPT meets the Ord Minnett target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $36.09, suggesting upside of 12.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 214.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 207.8, implying annual growth of 17.9%. Current consensus DPS estimate is 155.4, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.4. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 EPS of 230.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 244.9, implying annual growth of 17.9%. Current consensus DPS estimate is 186.4, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 13.1. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $28.58
Macquarie rates RMD as Neutral (3) -
Macquarie reviews forecasts ahead of ResMed Inc's second quarter result.
The Neutral rating is unchanged. The target price is increased to $27.70 from $27.25, to account for minor earnings upgrades, after assuming incremental improvement in base devices and mask/accessories revenues.
The broker will be looking at the result for confirmation of a recovery in base devices growth, as well as on-going benefits associated with mask/accessories re-supply.
Target price is $27.70 Current Price is $28.58 Difference: minus $0.88 (current price is over target).
If RMD 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 $28.17, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 22.39 cents and EPS of 75.92 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 20.7, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 41.1. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 24.11 cents and EPS of 83.09 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 74.7, implying annual growth of 12.0%. Current consensus DPS estimate is 22.2, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 36.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.67
Credit Suisse rates RRL as Outperform (1) -
Regis Resources' production was ahead of Credit Suisse's forecast for the December quarter.
The broker expects a stronger second half led by the ongoing Rosemont grade improvement to drive increased group production and estimates FY21 production to be 360koz at a cost of $1,285/oz.
With no major news to alter the outlook, Credit Suisse retains its Outperform rating with a target of $5.25.
Target price is $5.25 Current Price is $3.67 Difference: $1.58
If RRL meets the Credit Suisse target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 16.00 cents and EPS of 46.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 16.00 cents and EPS of 81.85 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
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 Neutral (3) -
Regis Resources reported a second quarter result, with gold production 4% ahead of Macquarie's expectation.
The all in sustaining costs (AISC) was down -13%, which was also a better outcome than the broker forecast.
The analyst reminds investors that approvals and subsequent development of the McPhillamys Project in NSW remains key to the company's longer-term outlook.
The Neutral rating and $3.90 target are unchanged.
Target price is $3.90 Current Price is $3.67 Difference: $0.23
If RRL meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 16.00 cents and EPS of 35.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 12.00 cents and EPS of 27.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
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 Overweight (1) -
Morgan Stanley notes Regis Resources's December quarter showed a return to operating stability after a shaky first quarter. Both gold production and costs were in-line with Morgan Stanley's forecasts with operations performing as expected.
The company maintains its guidance and expects a better second half with higher Rosemont underground grades expected to contribute.
Overweight rating. The target price is $5.45. Industry view: Attractive.
Target price is $5.45 Current Price is $3.67 Difference: $1.78
If RRL meets the Morgan Stanley target it will return approximately 49% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 16.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 17.50 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates RRL as Add (1) -
Quarter-on-quarter production was up at both operating centres, and in-line with Morgans’ second quarter forecast. This is regarded as supporting management’s first quarter comments that the Garden Well issue was minor and under control.
The broker anticipates Regis Resources will track market sentiment for gold in the near term, as permits progress at McPhillamys.
The Add rating is maintained and the target price is decreased to $4.40 from $4.78.
Target price is $4.40 Current Price is $3.67 Difference: $0.73
If RRL meets the Morgans target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 16.00 cents and EPS of 46.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 16.00 cents and EPS of 65.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates RRL as Buy (1) -
Regis Resources's December quarter production at 91koz of gold, -3% below Ord Minnett’s forecast, at costs (AISC) 4% higher than expected at $1,317/oz. The company's full-year guidance of 355-380koz remains unchanged.
The broker has increased its capital expenditure assumption by 10% for the year.
A potential decision on Regis's McPhillamys gold project, that forms 25% of the broker's net present value estimate, is expected in the June quarter.
Buy with a $4.50 target price.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $4.50 Current Price is $3.67 Difference: $0.83
If RRL meets the Ord Minnett target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
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 Buy (1) -
Regis Resources' December quarter was not as weak as the broker feared, after a shocker of a September quarter. Had there not been improvement the risk was FY21 production guidance would need to be downgraded.
Management expects production to lift from here given higher grade ore coming out of Rosemount underground. The broker retains Buy on valuation, after cutting its target to $4.65 from $5.15. The market is seen ascribing no value to McPhilamy's, due for approval this year.
Target price is $4.65 Current Price is $3.67 Difference: $0.98
If RRL meets the UBS target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $4.65, suggesting upside of 31.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 16.00 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.8, implying annual growth of 11.6%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 8.1. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 16.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 52.8, implying annual growth of 20.5%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RWC RELIANCE WORLDWIDE CORPORATION LIMITED
Building Products & Services
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Overnight Price: $4.37
Credit Suisse rates RWC as Outperform (1) -
Reliance Worldwide's first-half trading update showed (unaudited) operating income was 1.5% above Credit Suisse's forecast while group revenue was up 13% versus last year. Group volumes were circa 4% above the broker's estimate but offset partially by a higher AUD.
Credit Suisse increases its FY21 volume forecast by 5% for the Americas, 12% for APAC and 1.2% for EMEA.
Target price rises to $4.95 from $4.75. Outperform rating is maintained.
Target price is $4.95 Current Price is $4.37 Difference: $0.58
If RWC meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 9.50 cents and EPS of 23.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 10.00 cents and EPS of 22.47 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates RWC as Outperform (1) -
Reliance Worldwide Corp announced first half earnings (EBITDA) guidance well above Macquarie's forecast, driven by solid growth in the Americas.
The broker believes execution has lifted markedly, with strong margin and cash flow outcomes.
The analyst raises EPS estimates for FY21-23 by 17%, 15% and 8%, respectively. This takes account of foreign exchange changes, housing activity assumptions and cost reductions, explains the analyst.
The Outperform rating is unchanged and the target price increased to $4.95 from $4.60.
Target price is $4.95 Current Price is $4.37 Difference: $0.58
If RWC meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 11.00 cents and EPS of 23.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 13.00 cents and EPS of 26.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates RWC as Underweight (5) -
Reliance Worldwide Corp expects to report first-half sales at $642m and operating income between $164-167m, both ahead of Morgan Stanley's forecasts. The expected beat is driven by strong sales growth, better operating leverage and cost-saving initiatives.
Management has cautioned to not extrapolate the strong first half result into the second half citing adverse impacts from copper prices and currency headwinds. Morgan Stanley expects FY21 to be an abnormally strong year for earnings, led by the stay-at-home trend.
The rating is upgraded to Equal-weight from Underweight. Target rises $4.40 from $3.70. Industry view is Cautious.
Target price is $4.40 Current Price is $4.37 Difference: $0.03
If RWC meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 12.00 cents and EPS of 23.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 12.00 cents and EPS of 23.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates RWC as Hold (3) -
Reliance Worldwide provided what Morgans assesses to be a strong trading update, with first half earnings (EBITDA) well ahead of forecasts.
All regions performed well with higher volumes and operating leverage driving margin expansion, explains the broker.
Management cautioned against extrapolating the first half sales performance for the full year, given the ongoing uncertainty in all markets due to covid-19.
In addition, copper cost increases and foreign exchange are potential headwinds in the second half, notes the analyst.
The company also advised cash generation led to a -$76m reduction in net debt during the period.
Following upgrades to earnings, the Hold rating is maintained and the target price is increased to $4.62 from $4.08.
Target price is $4.62 Current Price is $4.37 Difference: $0.25
If RWC meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 10.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 10.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates RWC as Upgrade to Buy from Accumulate (1) -
Reliance Worldwide Corp's first-half trading update included sales growth increase of 17%. Ord Minnett notes the company achieved strong operating leverage due to the combination of higher volumes and cost savings initiatives.
The second half outlook is expected to be slightly more challenging given headwinds from currency translation and higher commodity costs.
Rating is upgraded to Buy from Accumulate with the target rising to $5.30 from $4.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $5.30 Current Price is $4.37 Difference: $0.93
If RWC meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 11.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 12.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates RWC as Neutral (3) -
A trading update from Reliance Worldwide revealed strong revenue growth continued in the first half FY21 and margin strength has now begun to follow. The broker had anticipated some moderation, but has now pushed out this assumption to the first half FY22.
Earnings risk is to the upside, as the stay-at-home and DIY themes continue to prevail while covid remains rampant overseas. The broker nevertheless suggests the market is pricing in resultant revenue growth through the longer term, hence retains Neutral.
Target rises to $4.53 from $4.35.
Target price is $4.53 Current Price is $4.37 Difference: $0.16
If RWC meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $4.79, suggesting upside of 10.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 13.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.4, implying annual growth of 105.3%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 14.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.3, implying annual growth of -0.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 18.6. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.27
Credit Suisse rates SBM as Outperform (1) -
Credit Suisse observes a softer than expected December quarter for St Barbara with production lagging Credit Suisse's estimate. Costs were higher but are expected to come down in the second half.
The quarter was hit by a decline in Simberi operations while the Atlantic operation turned in another solid performance. The Gwalia mine showed improvement and is in the early phases of a ramp-up.
St Barbara presents an array of growth opportunities which the broker likes and which differentiates it versus its peers. Execution on these growth projects will be the main catalyst in future, states the broker.
Credit Suisse retains its Outperform rating with a target of $3.30.
Target price is $3.30 Current Price is $2.27 Difference: $1.03
If SBM meets the Credit Suisse target it will return approximately 45% (excluding dividends, fees and charges).
Current consensus price target is $3.10, suggesting upside of 42.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Credit Suisse forecasts a full year FY21 dividend of 4.00 cents and EPS of 25.18 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of 33.9%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 9.0. |
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 4.00 cents and EPS of 46.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.6, implying annual growth of 22.8%. Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 7.4. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SBM as Upgrade to Neutral from Underperform (3) -
St Barbara produced 89.7koz of gold in the second quarter FY21, 9% above Macquarie's forecast. The all-in-sustaining-cost (AISC) was 5% above the broker's expectation.
The broker notes Simberi was the key point of weakness, with lower recovery resulting from the processing of transitional ore.
The rating is raised to Neutral from Underperform. Macquarie views this as the low point, as production metrics are expected to improve.
The target price of $2.40 is unchanged.
Target price is $2.40 Current Price is $2.27 Difference: $0.13
If SBM meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $3.10, suggesting upside of 42.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 2.00 cents and EPS of 16.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of 33.9%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 9.0. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 4.00 cents and EPS of 13.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.6, implying annual growth of 22.8%. Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 7.4. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates SBM as Overweight (1) -
St Barbara's December quarter was softer with production -10% below Morgan Stanley's forecast with the miss led by the Gwalia and Simberi operations.
The company has retained its FY21 guidance and expects a better second half, especially at Gwalia.
Overweight rating with a target of $3.70. Industry view is Attractive.
Target price is $3.70 Current Price is $2.27 Difference: $1.43
If SBM meets the Morgan Stanley target it will return approximately 63% (excluding dividends, fees and charges).
Current consensus price target is $3.10, suggesting upside of 42.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Morgan Stanley forecasts a full year FY21 dividend of 9.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of 33.9%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 9.0. |
Forecast for FY22:
Morgan Stanley forecasts a full year FY22 dividend of 11.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.6, implying annual growth of 22.8%. Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 7.4. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates SBM as Accumulate (2) -
St Barbara delivered a December-quarter production of 89.6koz of gold at costs (AISC) of $1,517/oz. This, notes Ord Minnett, was a considerable improvement over the September quarter’s 73koz at $1,701/oz although it fell -9% short of Ord Minnett’s production forecast.
The company retains its FY21 guidance of 370-410koz at costs of $1,360-1,510/oz.
The broker prefers to remain cautious and maintains its Accumulate recommendation with a $3.40 target price.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.40 Current Price is $2.27 Difference: $1.13
If SBM meets the Ord Minnett target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $3.10, suggesting upside of 42.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Ord Minnett forecasts a full year FY21 dividend of 9.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of 33.9%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 9.0. |
Forecast for FY22:
Ord Minnett forecasts a full year FY22 dividend of 12.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.6, implying annual growth of 22.8%. Current consensus DPS estimate is 8.0, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 7.4. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.43
UBS rates SGP as Buy (1) -
Having dissected recent housing approval data by local government area, the broker finds Stockland has the most direct detached housing exposure of the developers with 35% of FY21 earnings derived from residential and a further 5% from retirement, which is stongly linked.
This compares to 21% for Mirvac ((MGR)) and 10% for Lendlease ((LLC)). Government subsidies (HomeBuilder) are supportive but will not be extended, the broker believes, as they are arguably too popular, but low mortgage rates suggest earnings upgrades can continue.
Buy and $4.50 target retained.
Target price is $4.50 Current Price is $4.43 Difference: $0.07
If SGP meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $4.16, suggesting downside of -7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 25.00 cents and EPS of 33.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.1, implying annual growth of N/A. Current consensus DPS estimate is 24.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 14.0. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 25.70 cents and EPS of 34.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.5, implying annual growth of 4.4%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates STO as Buy (1) -
The broker has lifted its Brent price forecasts to [all US$/bbl] 57 from 50 for 2021, 60 from 55 for 2022 and 60 from 57.50 for 2023.
While the broker was not anticipating a return to strict mobility restrictions around the globe in the first half 21, the underlying assumption of a vaccine-led recovery is unchanged and supported by vaccine developments and OPEC-Plus supply agreements.
Santos' target rises to $7.60 from $6.60, Buy retained.
Target price is $7.60 Current Price is $6.85 Difference: $0.75
If STO meets the UBS target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $7.37, suggesting upside of 9.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 7.89 cents and EPS of 45.06 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.0, implying annual growth of N/A. Current consensus DPS estimate is 6.2, implying a prospective dividend yield of 0.9%. Current consensus EPS estimate suggests the PER is 24.9. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 8.04 cents and EPS of 54.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.5, implying annual growth of 53.7%. Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 16.2. |
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: $4.14
Macquarie rates TAH as Neutral (3) -
Tabcorp Holdings reports its first half FY21 result on 17 February 2021. Macquarie forecasts $539m in earnings (EBITDA), down -10% year-on-year.
The broker estimates -$50m in cost-out by FY23, which is around 5% of the operating cost base excluding taxes, levies and commissions.
There is possible share price upside via a break-up or assuming that Lotteries & Keno re-rates, speculates the analyst.
The Neutral rating is unchanged and the target price is increased to $4.40 from $4.15.
Target price is $4.40 Current Price is $4.14 Difference: $0.26
If TAH meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.02, suggesting upside of 0.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 12.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.2, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 27.9. |
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 14.00 cents and EPS of 17.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.6, implying annual growth of 22.2%. Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 22.8. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $8.23
UBS rates TNE as Upgrade to Buy from Sell (1) -
In the wake of TechnologyOne's recent de-rating, the broker has double-upgraded to Buy from Sell. The stock has underperfomed the Small Ordinaries by -15% since its November earnings result, and -25% since the prior May result.
The broker sees upside risk from faster SaaS conversion, improving UK momentum and greater traction in domestic state/federal government business. Value is on offer compared to both domestic and foreign peers, the broker suggests.
Target rises to $9.15 from $8.45.
Target price is $9.15 Current Price is $8.23 Difference: $0.92
If TNE meets the UBS target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $9.43, suggesting upside of 12.8% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 14.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.8, implying annual growth of 15.4%. Current consensus DPS estimate is 15.3, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 36.7. |
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 16.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 9.6%. Current consensus DPS estimate is 17.7, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 33.4. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $0.94
Macquarie rates WAF as Outperform (1) -
West African Resources’ fourth quarter production was below Macquarie’s expectations, while ore volumes were better than expected.
The broker highlights underground and open pit mining volumes were materially stronger than expected.
The analyst notes a reserve/resource update, 2021 guidance and updated life-of-mine plan are due before the end of the first quarter 2021. These are considered key to the company’s outlook.
The price target is reduced to $1.05 from $1.10.
Target price is $1.05 Current Price is $0.94 Difference: $0.11
If WAF meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 0.00 cents and EPS of 7.90 cents. |
Forecast for FY21:
Macquarie forecasts a full year FY21 dividend of 0.00 cents and EPS of 21.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $25.57
UBS rates WPL as Downgrade to Neutral from Buy (3) -
The broker has lifted its Brent price forecasts to [all US$/bbl] 57 from 50 for 2021, 60 from 55 for 2022 and 60 from 57.50 for 2023.
While the broker was not anticipating a return to strict mobility restrictions around the globe in the first half 21, the underlying assumption of a vaccine-led recovery is unchanged and supported by vaccine developments and OPEC-Plus supply agreements.
Woodside Petroeum's target rises to $26.10 from $23.50 but the broker downgrades to Neutral from Buy suggesting the market is adequately pricing a decison on Scarborough in the second half 21.
Target price is $26.10 Current Price is $25.57 Difference: $0.53
If WPL meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $26.68, suggesting upside of 6.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 66.02 cents and EPS of 59.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of N/A. Current consensus DPS estimate is 58.2, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 38.2. |
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 77.50 cents and EPS of 132.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 143.6, implying annual growth of 118.2%. Current consensus DPS estimate is 97.0, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 17.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Today's Price Target Changes
Company | Last Price | Broker | New Target | Prev Target | Change | |
360 | Life360 | $3.90 | Credit Suisse | 4.50 | 4.70 | -4.26% |
AFG | Australian Finance | $2.71 | Macquarie | 3.03 | 2.56 | 18.36% |
ALX | Atlas Arteria | $6.19 | Macquarie | 6.10 | 6.34 | -3.79% |
Morgans | 6.51 | 6.74 | -3.41% | |||
APE | EAGERS AUTOMOTIVE | $13.20 | Macquarie | 14.30 | 13.85 | 3.25% |
AUB | AUB Group | $15.94 | Macquarie | 18.23 | 18.57 | -1.83% |
BKG | BOOKTOPIA GROUP LIMITED | $2.80 | Morgans | 3.48 | 3.17 | 9.78% |
BPT | Beach Energy | $1.71 | Citi | 1.98 | 1.94 | 2.06% |
Credit Suisse | 2.07 | 1.95 | 6.15% | |||
Macquarie | 2.30 | 2.00 | 15.00% | |||
Morgans | 2.14 | 2.25 | -4.89% | |||
CPU | Computershare | $14.37 | UBS | 15.00 | 12.30 | 21.95% |
CSL | CSL | $266.90 | Macquarie | 290.00 | 289.00 | 0.35% |
CVN | Carnarvon Petroleum | $0.28 | Macquarie | 0.31 | 0.30 | 3.33% |
ILU | Iluka Resources | $6.61 | Credit Suisse | 5.60 | 5.35 | 4.67% |
Macquarie | 6.70 | 5.60 | 19.64% | |||
Morgan Stanley | 5.55 | 5.20 | 6.73% | |||
Ord Minnett | 6.30 | 6.00 | 5.00% | |||
MQG | Macquarie Group | $133.40 | Morgan Stanley | 155.00 | 148.00 | 4.73% |
NUF | Nufarm | $4.75 | UBS | 5.50 | 5.30 | 3.77% |
ORE | Orocobre | $5.75 | Citi | 6.75 | 5.00 | 35.00% |
Credit Suisse | 5.00 | 2.85 | 75.44% | |||
Ord Minnett | 5.30 | 4.60 | 15.22% | |||
ORG | Origin Energy | $4.84 | UBS | 6.65 | 6.60 | 0.76% |
OSH | Oil Search | $4.00 | Citi | 4.38 | 4.45 | -1.57% |
Credit Suisse | 3.61 | 3.10 | 16.45% | |||
Macquarie | 3.50 | 3.40 | 2.94% | |||
Morgans | 4.00 | 4.10 | -2.44% | |||
Ord Minnett | 4.40 | 4.58 | -3.93% | |||
UBS | 4.10 | 3.70 | 10.81% | |||
PPT | Perpetual | $32.06 | Ord Minnett | 33.00 | 33.50 | -1.49% |
RMD | Resmed | $27.42 | Macquarie | 27.70 | 27.25 | 1.65% |
RRL | Regis Resources | $3.53 | Morgans | 4.40 | 4.78 | -7.95% |
UBS | 4.65 | 5.15 | -9.71% | |||
RWC | Reliance Worldwide | $4.33 | Credit Suisse | 4.95 | 4.75 | 4.21% |
Macquarie | 4.95 | 4.60 | 7.61% | |||
Morgan Stanley | 4.40 | 3.70 | 18.92% | |||
Morgans | 4.62 | 4.08 | 13.24% | |||
Ord Minnett | 5.30 | 4.50 | 17.78% | |||
UBS | 4.53 | 4.20 | 7.86% | |||
SBM | St Barbara | $2.18 | Ord Minnett | 3.40 | 3.40 | 0.00% |
STO | Santos | $6.72 | UBS | 7.60 | 6.60 | 15.15% |
TAH | Tabcorp Holdings | $4.02 | Macquarie | 4.40 | 4.15 | 6.02% |
TNE | Technologyone | $8.36 | UBS | 9.15 | 8.45 | 8.28% |
WAF | West African Resources | $0.90 | Macquarie | 1.05 | 1.10 | -4.55% |
WPL | Woodside Petroleum | $25.14 | UBS | 26.10 | 23.50 | 11.06% |
Summaries
360 | Life360 | Outperform - Credit Suisse | Overnight Price $3.89 |
AFG | Australian Finance | Outperform - Macquarie | Overnight Price $2.79 |
AHY | Asaleo Care | Outperform - Credit Suisse | Overnight Price $1.32 |
ALX | Atlas Arteria | Neutral - Macquarie | Overnight Price $6.08 |
Upgrade to Add from Hold - Morgans | Overnight Price $6.08 | ||
Neutral - UBS | Overnight Price $6.08 | ||
APE | EAGERS AUTOMOTIVE | Neutral - Macquarie | Overnight Price $13.42 |
Overweight - Morgan Stanley | Overnight Price $13.42 | ||
Add - Morgans | Overnight Price $13.42 | ||
Buy - UBS | Overnight Price $13.42 | ||
ASX | ASX Ltd | Sell - Citi | Overnight Price $72.66 |
AUB | AUB Group | Outperform - Macquarie | Overnight Price $16.52 |
BKG | BOOKTOPIA GROUP LIMITED | Add - Morgans | Overnight Price $2.90 |
BPT | Beach Energy | Neutral - Citi | Overnight Price $1.76 |
Outperform - Credit Suisse | Overnight Price $1.76 | ||
Outperform - Macquarie | Overnight Price $1.76 | ||
Equal-weight - Morgan Stanley | Overnight Price $1.76 | ||
Add - Morgans | Overnight Price $1.76 | ||
Buy - Ord Minnett | Overnight Price $1.76 | ||
CCX | City Chic | Overweight - Morgan Stanley | Overnight Price $4.11 |
CGF | Challenger | Neutral - Citi | Overnight Price $6.92 |
CHN | CHALICE GOLD MINES | Outperform - Macquarie | Overnight Price $4.64 |
CPU | Computershare | Sell - Citi | Overnight Price $14.60 |
Downgrade to Neutral from Buy - UBS | Overnight Price $14.60 | ||
CRW | CASHREWARDS LIMITED | Buy - Ord Minnett | Overnight Price $1.69 |
CSL | CSL | Neutral - Macquarie | Overnight Price $275.20 |
Equal-weight - Morgan Stanley | Overnight Price $275.20 | ||
CVN | Carnarvon Petroleum | Neutral - Macquarie | Overnight Price $0.30 |
DTC | Damstra Holdings | Overweight - Morgan Stanley | Overnight Price $1.45 |
EQT | Eqt Holdings Limited | No Rating - Ord Minnett | Overnight Price $27.25 |
ILU | Iluka Resources | Downgrade to Underperform from Neutral - Credit Suisse | Overnight Price $6.65 |
Neutral - Macquarie | Overnight Price $6.65 | ||
Equal-weight - Morgan Stanley | Overnight Price $6.65 | ||
Hold - Ord Minnett | Overnight Price $6.65 | ||
JHG | Janus Henderson Group | Buy - Citi | Overnight Price $41.84 |
MCR | Mincor Resources | Outperform - Macquarie | Overnight Price $1.09 |
MQG | Macquarie Group | Overweight - Morgan Stanley | Overnight Price $135.64 |
NTO | Nitro Software | Overweight - Morgan Stanley | Overnight Price $3.28 |
NUF | Nufarm | Buy - UBS | Overnight Price $4.66 |
ORE | Orocobre | Downgrade to Neutral from Buy - Citi | Overnight Price $5.81 |
Downgrade to Underperform from Neutral - Credit Suisse | Overnight Price $5.81 | ||
Equal-weight - Morgan Stanley | Overnight Price $5.81 | ||
Hold - Ord Minnett | Overnight Price $5.81 | ||
ORG | Origin Energy | Buy - UBS | Overnight Price $4.88 |
OSH | Oil Search | Neutral - Citi | Overnight Price $4.16 |
Underperform - Credit Suisse | Overnight Price $4.16 | ||
Underperform - Macquarie | Overnight Price $4.16 | ||
Equal-weight - Morgan Stanley | Overnight Price $4.16 | ||
Hold - Morgans | Overnight Price $4.16 | ||
Buy - Ord Minnett | Overnight Price $4.16 | ||
Neutral - UBS | Overnight Price $4.16 | ||
PMV | Premier Investments | Initiation of coverage with Hold - Ord Minnett | Overnight Price $22.76 |
PPT | Perpetual | Neutral - Citi | Overnight Price $33.19 |
Hold - Ord Minnett | Overnight Price $33.19 | ||
RMD | Resmed | Neutral - Macquarie | Overnight Price $28.58 |
RRL | Regis Resources | Outperform - Credit Suisse | Overnight Price $3.67 |
Neutral - Macquarie | Overnight Price $3.67 | ||
Overweight - Morgan Stanley | Overnight Price $3.67 | ||
Add - Morgans | Overnight Price $3.67 | ||
Buy - Ord Minnett | Overnight Price $3.67 | ||
Buy - UBS | Overnight Price $3.67 | ||
RWC | Reliance Worldwide | Outperform - Credit Suisse | Overnight Price $4.37 |
Outperform - Macquarie | Overnight Price $4.37 | ||
Underweight - Morgan Stanley | Overnight Price $4.37 | ||
Hold - Morgans | Overnight Price $4.37 | ||
Upgrade to Buy from Accumulate - Ord Minnett | Overnight Price $4.37 | ||
Neutral - UBS | Overnight Price $4.37 | ||
SBM | St Barbara | Outperform - Credit Suisse | Overnight Price $2.27 |
Upgrade to Neutral from Underperform - Macquarie | Overnight Price $2.27 | ||
Overweight - Morgan Stanley | Overnight Price $2.27 | ||
Accumulate - Ord Minnett | Overnight Price $2.27 | ||
SGP | Stockland | Buy - UBS | Overnight Price $4.43 |
STO | Santos | Buy - UBS | Overnight Price $6.85 |
TAH | Tabcorp Holdings | Neutral - Macquarie | Overnight Price $4.14 |
TNE | Technologyone | Upgrade to Buy from Sell - UBS | Overnight Price $8.23 |
WAF | West African Resources | Outperform - Macquarie | Overnight Price $0.94 |
WPL | Woodside Petroleum | Downgrade to Neutral from Buy - UBS | Overnight Price $25.57 |
RATING SUMMARY
Rating | No. Of Recommendations |
1. Buy | 38 |
2. Accumulate | 1 |
3. Hold | 30 |
5. Sell | 7 |
Thursday 28 January 2021
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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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