Australian Broker Call
July 21, 2017
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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: 03:21 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| AZJ - | AURIZON HOLDINGS | Downgrade to Underperform from Neutral | Macquarie |
| BBN - | BABY BUNTING | Downgrade to Neutral from Buy | Citi |
| CCP - | CREDIT CORP GROUP | Downgrade to Hold from Add | Morgans |
| MTR - | MANTRA GROUP | Upgrade to Hold from Sell | Deutsche Bank |
| NEC - | NINE ENTERTAINMENT | Upgrade to Equal-weight from Underweight | Morgan Stanley |
| PPT - | PERPETUAL | Downgrade to Sell from Neutral | Citi |
| RCG - | RCG CORP | Downgrade to Neutral from Buy | Citi |
| S32 - | SOUTH32 | Downgrade to Neutral from Buy | Citi |
| SYD - | SYDNEY AIRPORT | Upgrade to Add from Hold | Morgans |
Citi rates ALQ as Buy (1) -
First half net profit guidance of $70-75m is slightly above Citi's expectations. The broker believes this reflects ongoing improvement in geochemical testing.
The broker makes minor revisions to earnings per share, up 1% for FY18-20, and retains a Buy rating. Target is raised to $8.50 from $8.15.
Target price is $8.50 Current Price is $7.18 Difference: $1.32
If ALQ meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $6.99, suggesting downside of -6.8% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 17.50 cents and EPS of 28.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 28.5, implying annual growth of 75.9%. Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 22.00 cents and EPS of 37.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 23.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ALQ as Outperform (1) -
The company has provided maiden first half net profit guidance of $70-75m and reported geochemistry revenues were up 33% in the March quarter.
Credit Suisse notes the outgoing CEO commented that growth in the commodity cycle should be maintained for the next four years and this is consistent with its view.
Outperform rating and $7.80 target retained.
Target price is $7.80 Current Price is $7.18 Difference: $0.62
If ALQ meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $6.99, suggesting downside of -6.8% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 17.79 cents and EPS of 29.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 28.5, implying annual growth of 75.9%. Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 20.25 cents and EPS of 33.91 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 23.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ALQ as Hold (3) -
The company's geochemistry business is performing better than Deutsche Bank expected while the metallurgical business is improving.
Management has signalled first half guidance of $70-75m in net profit, and plans to undertake further food testing acquisitions in FY18 that will provide around $46m in revenue.
Deutsche Bank retains a Hold rating and reduces the target to $7.73 from $7.76.
Target price is $7.73 Current Price is $7.18 Difference: $0.55
If ALQ meets the Deutsche Bank target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.99, suggesting downside of -6.8% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 18.00 cents and EPS of 30.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 28.5, implying annual growth of 75.9%. Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 22.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 23.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ALQ as Outperform (1) -
Management's guidance for H1 FY18 is below Macquarie's forecast but the analysts express a mea culpa and admit their own forecasts were too bullish for Life Sciences likely performance during the period.
Having re-assessed, the view is now that Life Sciences is performing "mixed" but there is improvement, while strength has announced itself for the Minerals business.
Macquarie now factors in acquisitions to the tune of $450m for Life Sciences and the end result is for small increases to estimates. Target moves to $7.80 from $7.28 prior. Outperform rating retained.
Target price is $7.80 Current Price is $7.18 Difference: $0.62
If ALQ meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $6.99, suggesting downside of -6.8% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 17.50 cents and EPS of 29.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 28.5, implying annual growth of 75.9%. Current consensus DPS estimate is 16.8, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 17.70 cents and EPS of 35.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 23.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates AMC as Hold (3) -
Morgans observes the macro backdrop to the company's two key markets is improving as US growth is continuing and Europe is showing signs of picking up.
The broker expects FY17 operating earnings to increase by 6% because of the contributions by recent acquisitions and the benefits from restructuring. Hold rating maintained. Target increases to $16.24 from $15.44.
Target price is $16.24 Current Price is $15.62 Difference: $0.62
If AMC meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $16.27, suggesting upside of 4.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 58.70 cents and EPS of 81.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 76.2, implying annual growth of N/A. Current consensus DPS estimate is 58.2, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 64.90 cents and EPS of 91.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 87.5, implying annual growth of 14.8%. Current consensus DPS estimate is 64.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 17.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ANN as Overweight (1) -
Morgan Stanley notes the company is to restructure its portfolio, as expected, following the divestment of sexual health. Cash investment over a three-year period of US$70-100m is expected.
Approximately US$40-50m of the cash will be used to reduce costs and to deliver a forecast annualised pre-tax saving in excess of US$30m by FY20.
Rating is Overweight. Target is $25.35. Sector view is In-Line.
Target price is $25.35 Current Price is $22.29 Difference: $3.06
If ANN meets the Morgan Stanley target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $23.20, suggesting upside of 4.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 60.00 cents and EPS of 137.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 131.6, implying annual growth of N/A. Current consensus DPS estimate is 56.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 63.97 cents and EPS of 135.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 175.3, implying annual growth of 33.2%. Current consensus DPS estimate is 61.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ANN as Hold (3) -
The company has unveiled a transformation program, projecting annual savings of $30m by FY20 and spending $40-50m on the way.
While Ord Minnett acknowledges this is an attractive pay-back scenario it is disinclined to bank the savings, given previous restructuring efforts failed to deliver a discernible boost to earnings.
Hold rating retained. Target is reduced to $23 from $24.
Target price is $23.00 Current Price is $22.29 Difference: $0.71
If ANN meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $23.20, suggesting upside of 4.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 58.28 cents and EPS of 135.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 131.6, implying annual growth of N/A. Current consensus DPS estimate is 56.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 59.60 cents and EPS of 455.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 175.3, implying annual growth of 33.2%. Current consensus DPS estimate is 61.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ANN as Sell (5) -
UBS observes the company has experienced solid second half revenue as restructuring has helped offset commodity prices.
Over the next three years the company will re-invest US$70-100m of the proceeds from the sale of its sexual wellness business.
UBS retains a Sell rating and reduces the target to $21.65 from $24.00.
Target price is $21.65 Current Price is $22.29 Difference: minus $0.64 (current price is over target).
If ANN meets the UBS target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $23.20, suggesting upside of 4.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 59.60 cents and EPS of 136.42 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 131.6, implying annual growth of N/A. Current consensus DPS estimate is 56.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 60.93 cents and EPS of 143.05 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 175.3, implying annual growth of 33.2%. Current consensus DPS estimate is 61.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AWC as Underperform (5) -
JV partner Alcoa reported adjusted operating earnings were down -11% in the June quarter. Credit Suisse adjusts its model for first half distributions and marks to market FX and alumina prices.
The net impact means underlying forecasts for earnings per share are down -5% in FY17 and -1% for FY18.
Underperform retained. Target is $1.70.
Target price is $1.70 Current Price is $1.92 Difference: minus $0.215 (current price is over target).
If AWC meets the Credit Suisse target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.86, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 9.58 cents and EPS of 11.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.2, implying annual growth of N/A. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.99 cents and EPS of 11.91 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of 8.3%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 13.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AWC as Hold (3) -
JV partner Alcoa's combined June quarter alumina and bauxite margin declined to US$100/t from the record US$127/t in the March quarter. Alumina Ltd's attributable first half earnings are lower than Deutsche Bank estimates as are net dividends.
Deutsche Bank lowers 2017 earnings estimates by -7% and retains a Hold rating with a $1.85 target.
Target price is $1.85 Current Price is $1.92 Difference: minus $0.065 (current price is over target).
If AWC meets the Deutsche Bank target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.86, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 10.60 cents and EPS of 11.92 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.2, implying annual growth of N/A. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 10.60 cents and EPS of 10.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of 8.3%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 13.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AWC as Accumulate (2) -
JV partner Alcoa released bauxite and alumina division earnings and Ord Minnett notes operating earnings were about -US$10/t lower than forecasts although shipments were 10% higher.
The broker now factors in higher costs which lowers forecasts for earnings. Accumulate rating is retained with a $2.20 target, given Alumina Ltd's strong balance sheet, dividend yield and exposure to the supply reforms to be implemented by the Chinese government.
Target price is $2.20 Current Price is $1.92 Difference: $0.285
If AWC meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting downside of -2.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 9.27 cents and EPS of 10.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.2, implying annual growth of N/A. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 13.25 cents and EPS of 14.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of 8.3%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 13.4. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AZJ as Downgrade to Underperform from Neutral (5) -
Changes in bond markets will reduce core return over the next four years, unless there is a material change by the regulators, point out Macquarie analysts. With funding savings partially offsetting, they estimate a potential impact of -$9m on net profit.
The company had a tough year in terms of volumes, but Macquarie sees a bounce back on the horizon for FY18. So far, there is little evidence of a catch up, they note.
All in all, minor adjustments have been made, but the analysts find the share price valuation rich for a low growth company providing relatively attractive yield. Hence why the downgrade to Underperform from Neutral. Target remains $4.98.
Target price is $4.98 Current Price is $5.29 Difference: minus $0.31 (current price is over target).
If AZJ meets the Macquarie target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.88, suggesting downside of -5.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 25.50 cents and EPS of 23.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.9, implying annual growth of 544.1%. Current consensus DPS estimate is 23.9, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 23.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 25.50 cents and EPS of 25.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.2, implying annual growth of 19.6%. Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 19.6. |
Market Sentiment: -0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates BBN as Downgrade to Neutral from Buy (3) -
The Baby Bunting share price has bounced hard over the month past. Citi analysts have decided it's time to pull back to Neutral. Longer term, they see Amazon as a real and genuine threat, but the company should have multiple levers to offset.
Target price is $2.00 Current Price is $1.90 Difference: $0.1
If BBN meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.61, suggesting upside of 34.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 7.40 cents and EPS of 10.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.6, implying annual growth of 51.4%. Current consensus DPS estimate is 7.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 9.50 cents and EPS of 12.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.7, implying annual growth of 19.8%. Current consensus DPS estimate is 9.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 15.3. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BHP as Add (1) -
June quarter results were broadly in line with Morgans. Onshore US activity is expected to pick up and Escondida to rebound while Olympic Dam will be affected by a 100-day major maintenance program.
Morgans continues to believe the stock presents compelling value and retains an Add rating. Target is raised to $28.36 from $28.18.
Target price is $28.36 Current Price is $24.97 Difference: $3.39
If BHP meets the Morgans target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $27.45, suggesting upside of 12.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 115.23 cents and EPS of 178.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 162.8, implying annual growth of N/A. Current consensus DPS estimate is 102.6, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.0. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 120.53 cents and EPS of 200.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 147.2, implying annual growth of -9.6%. Current consensus DPS estimate is 87.5, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 16.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CCP as Downgrade to Hold from Add (3) -
Morgans expects FY17 net profit to be 22% above FY16. FY18 growth is expected to be driven by the lending division as the US division moves into profitability. The broker tempers expectations for domestic PDL acquisitions as strong competition continues.
Rating is downgraded to Hold from Add. While positive on the earnings certainty and medium-term growth profile, Morgans would prefer to see greater upside before returning to a more positive stance. Target is reduced to $19.35 from $19.90.
Target price is $19.35 Current Price is $17.72 Difference: $1.63
If CCP meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 60.00 cents and EPS of 119.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 67.00 cents and EPS of 134.00 cents. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates EVN as Buy (1) -
The June quarter delivered record production to end FY17, making this the sixth consecutive year that the company has met its target.
Citi maintains a Buy call on the back of possible near-term catalysts such as exploration and a lift in the dividend policy.
Target is reduced to $2.55 from $2.80.
Target price is $2.55 Current Price is $2.16 Difference: $0.39
If EVN meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $2.52, suggesting upside of 16.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 4.00 cents and EPS of 16.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.0, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 4.00 cents and EPS of 15.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 26.7%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates EVN as Outperform (1) -
The company delivered a solid June quarter, Credit Suisse observes, with Cowal and Mt Carlton performing strongly. The first full quarter cash contribution from Ernest Henry was also a highlight.
The broker retains an Outperform rating and $2.30 target.
Target price is $2.30 Current Price is $2.16 Difference: $0.14
If EVN meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $2.52, suggesting upside of 16.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 3.83 cents and EPS of 14.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.0, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 3.98 cents and EPS of 19.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 26.7%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates EVN as Buy (1) -
June quarter production was above Deutsche Bank's forecast with a solid performance from all assets with the exception of Mungari. The broker notes the company is planning to broaden its capital allocation strategy.
It has the capacity for M&A but is under no pressure, the broker adds, as the business is generating strong free cash flow and in great shape to continue its current performance. Buy rating retained. Target reduced to $2.60 from $2.70.
Target price is $2.60 Current Price is $2.16 Difference: $0.44
If EVN meets the Deutsche Bank target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.52, suggesting upside of 16.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 4.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.0, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 5.00 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 26.7%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates EVN as Outperform (1) -
Macquarie analysts saw the gold miner delivering a record June quarter achievement, with both production and costs broadly in-line with expectations. The analysts add momentum seems definitely in favour right now.
In addition, strong cash flow generation allows for a rapid delevering of the balance sheet, the analysts add. They note Evolution made debt repayments of $125m during the quarter, which lowered gross net debt to $399m.
Outperform rating retained, as well as the $2.70 price target.
Target price is $2.70 Current Price is $2.16 Difference: $0.54
If EVN meets the Macquarie target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $2.52, suggesting upside of 16.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 4.00 cents and EPS of 9.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.0, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 6.00 cents and EPS of 24.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 26.7%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates EVN as Buy (1) -
The June quarter was solid, UBS observes. The company is firmly on a path to de-gearing and the broker expects a net cash position by mid 2018.
Buy retained. Target is $2.59.
Target price is $2.59 Current Price is $2.16 Difference: $0.43
If EVN meets the UBS target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.52, suggesting upside of 16.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 4.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.0, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 14.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 4.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 26.7%. Current consensus DPS estimate is 4.5, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates FBU as Outperform (1) -
The company has revealed further contract losses and an asset impairment charge. While Credit Suisse finds this unwelcome, the impact of these cost over-runs are expected to pass, as and when the problematic projects are completed.
Accordingly, the broker maintains an Outperform rating. Target is reduced to NZ$9.40 from NZ$9.80.
Current Price is $7.05. Target price not assessed.
Current consensus price target is $9.00, suggesting upside of 27.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 29.28 cents and EPS of 39.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.0, implying annual growth of N/A. Current consensus DPS estimate is 35.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 43.44 cents and EPS of 62.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.7, implying annual growth of 35.7%. Current consensus DPS estimate is 39.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 11.8. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates FBU as Buy (1) -
The company has made its third downgrade to operating earnings in five months, relating to the building and interiors business. Deutsche Bank is disappointed but considers the key question is whether the current share price is factoring this in. The broker believes it does.
While knowledging this is a brave decision, the broker retains a Buy rating. Target falls to NZ$9.21 from NZ$9.91.
Current Price is $7.05. Target price not assessed.
Current consensus price target is $9.00, suggesting upside of 27.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 39.66 cents and EPS of 40.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.0, implying annual growth of N/A. Current consensus DPS estimate is 35.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 42.50 cents and EPS of 59.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.7, implying annual growth of 35.7%. Current consensus DPS estimate is 39.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 11.8. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FBU as Buy (1) -
The company has further downgraded operating earnings guidance, which reflects a -17% reduction to prior estimates. UBS takes comfort in the fact the downgrade is isolated to the construction division and, in particular, the Christchurch justice precinct and SkyCity Convention Centre.
UBS retains a Buy rating and reduces the target to $NZ$8.90 from NZ$9.30.
Current Price is $7.05. Target price not assessed.
Current consensus price target is $9.00, suggesting upside of 27.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 36.83 cents and EPS of 39.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.0, implying annual growth of N/A. Current consensus DPS estimate is 35.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 36.83 cents and EPS of 60.44 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.7, implying annual growth of 35.7%. Current consensus DPS estimate is 39.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 11.8. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates JHX as Buy (1) -
Deutsche Bank observes few surprises from the company's investor briefing.
Management has reiterated that its growth continues to outstrip market growth and believes there are further opportunities in market share gains and new products.
Deutsche Bank continues to rate the stock a Buy with a target of $22.39.
Target price is $22.39 Current Price is $19.17 Difference: $3.22
If JHX meets the Deutsche Bank target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $20.96, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in March.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 55.86 cents and EPS of 83.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 82.3, implying annual growth of N/A. Current consensus DPS estimate is 54.8, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 23.3. |
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 67.83 cents and EPS of 103.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 99.3, implying annual growth of 20.7%. Current consensus DPS estimate is 60.6, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 19.3. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MQA as Outperform (1) -
The French trend surprised on the upside, but the new acquisition, Dulles Greenway, disappointed in Q2. Macquarie analysts point out their valuation for Macquarie Atlas relies for 74% on APRR in France.
Their outlook remains positive for APRR while a more benign outlook for Greenway is now assumed. Minor adjustments have been implemented to forecasts. Target price rises to $6.17 from $6.07. Outperform.
Target price is $6.17 Current Price is $5.75 Difference: $0.42
If MQA meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $5.74, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 20.00 cents and EPS of 54.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.6, implying annual growth of 51.2%. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.4. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 22.00 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.4, implying annual growth of 9.5%. Current consensus DPS estimate is 23.1, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 17.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MTR as Upgrade to Hold from Sell (3) -
Deutsche Bank upgrades to Hold from Sell because the valuation multiples are less onerous, following a -20% de-rating over the past year.
The broker retains concerns about earnings quality and capital allocation but upgrades on valuation grounds and believes there are prospects for improved sentiment in the near term. Target is raised to $3.00 from $2.60.
Target price is $3.00 Current Price is $3.01 Difference: minus $0.01 (current price is over target).
If MTR meets the Deutsche Bank target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.40, suggesting upside of 10.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 10.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of 20.4%. Current consensus DPS estimate is 10.9, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 18.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 13.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.7, implying annual growth of 9.4%. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 4.1%. 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
Citi rates MYR as Buy (1) -
Previously, analysts at Citi were seen clutching to small positives that were still there, for those looking in the right places, but that last bit of optimism seems to have evaporated now the company has issued a profit warning. An inevitable one, admit the analysts, given sales are on the nose.
Myer's clearance strategy plus a shift away from discounting-driven sales activity are considered the main culprits. And why the revised guidance doesn't seem like much at face value, Citi analysts estimate Myer's operational result (EBIT) could well be down as much as -37% for the second half.
While post event commentary leaves a more benign undertone, the Buy rating now has High Risk attached to it and the price target tumbles to 95c from $1.20. Execution risk is high but the analysts suggest corporate interest is going to support the share price from here onwards.
EPS estimates have been culled by -9% in FY17 and by -16% in FY18.
Target price is $0.95 Current Price is $0.74 Difference: $0.215
If MYR meets the Citi target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 6.00 cents and EPS of 8.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 6.50 cents and EPS of 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MYR as Hold (3) -
Deutsche Bank believes the market has become significantly tougher to the point where the company's strategy is now in question.
The broker suspects sales growth will be difficult to come by without sacrificing margin although the depressed valuation and corporate interests may limit the downside. Hold retained. Target is reduced to $0.80 from $1.00.
Sales estimates are reduced by -8% for FY17, and -13% for FY18 onwards to allow for Topshop closing.
Target price is $0.80 Current Price is $0.74 Difference: $0.065
If MYR meets the Deutsche Bank target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 EPS of 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MYR as Neutral (3) -
Profit warning in the form of a lower guidance following weak trading over the winter period. Macquarie analysts add Myer has also written down the value of its Topshop Topman business and Sass & Bide Investments, plus Deputy CEO, Daniel Bracken has now left.
With slow income growth and high household debt continuing to weigh on consumer spending, Macquarie is expecting tough trading conditions to persist. Net profit estimates have been reduced by -4%, -17% and -29% for FY17-FY19.
Target price drops by -28% to 76c. Upside potential remains from cost-outs and corporate activity, suggest the analysts. Neutral rating retained.
Target price is $0.76 Current Price is $0.74 Difference: $0.025
If MYR meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 5.00 cents and EPS of 8.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.00 cents and EPS of 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MYR as Equal-weight (3) -
The company has indicated that FY17 net profit will fall to the $66-70m range versus prior guidance for over $69.3m. This is cited as a result of continued weakness in retail trading conditions.
Morgan Stanley is cold on the stock, especially as Amazon is yet to have any impact. Earnings headwinds are expected to intensify as more international competitors arrive.
Equal-weight rating retained. Target is lowered to $0.70 from $0.80. Industry view is Cautious.
Target price is $0.70 Current Price is $0.74 Difference: minus $0.035 (current price is over target).
If MYR meets the Morgan Stanley target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 5.00 cents and EPS of 8.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 5.00 cents and EPS of 8.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MYR as Lighten (4) -
The company has cut FY17 guidance for net profit to $66-70m. The more subdued outlook stems from weakness in retail trading, especially in July. Ord Minnett believes the consumer environment is making execution of the company's new strategies difficult.
Lighten rating retained. Target is reduced to $0.65 from $0.74.
Target price is $0.65 Current Price is $0.74 Difference: minus $0.085 (current price is over target).
If MYR meets the Ord Minnett target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 5.00 cents and EPS of 1.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 5.00 cents and EPS of 5.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MYR as Sell (5) -
The company expects net profit to be $66-70m, which implies a -2% cut to UBS estimates. Myer attributed this to very weak trading over July, a key period, particularly in apparel.
UBS downgrades FY17-19 estimates for earnings by -4% to reflect the weaker trading conditions. Sell rating retained. Target is lowered to 65c from 70c.
Target price is $0.65 Current Price is $0.74 Difference: minus $0.085 (current price is over target).
If MYR meets the UBS target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.76, suggesting upside of 1.5% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 3.50 cents and EPS of 8.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.4, implying annual growth of -16.9%. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 4.00 cents and EPS of 8.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.4, implying annual growth of 15.6%. Current consensus DPS estimate is 4.8, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates NEC as Upgrade to Equal-weight from Underweight (3) -
Fundamentally, Morgan Stanley is a structural bear on traditional media as the rate of change in technology and consumer behaviour accelerates and the global leakage of advertising spending continues.
Nevertheless, after a substantially better start to the 2017 ratings year, Morgan Stanley flips its assessment of the earnings risk for Nine Entertainment to more upside than downside and upgrades to Equal-weight from Underweight.
Target is lifted to $1.20 from $0.90. Operating earnings estimates are lifted by 12-31% for FY17-19. Attractive industry view.
Target price is $1.20 Current Price is $1.38 Difference: minus $0.18 (current price is over target).
If NEC meets the Morgan Stanley target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.30, suggesting downside of -5.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 11.50 cents and EPS of 13.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.9, implying annual growth of -62.4%. Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 8.3%. Current consensus EPS estimate suggests the PER is 9.9. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 11.30 cents and EPS of 12.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.8, implying annual growth of -7.9%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 8.0%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates ORA as Add (1) -
Morgans forecasts FY17 operating earnings of $301m, implying 7% growth. The main things the broker will be looking for in the results on August 10 are organic growth, contributions from acquisitions and the pressures on energy costs.
Add rating retained. Target is reduced to $3.09 from $3.22.
Target price is $3.09 Current Price is $2.81 Difference: $0.28
If ORA meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $3.17, suggesting upside of 13.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 10.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of 5.7%. Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 11.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.5, implying annual growth of 10.7%. Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 16.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates PEP as Outperform (1) -
Pepper is in the process of acquiring Banco Primus, a Portuguese consumer finance business, and Macquarie points out funding must be found for some $65.1m of the purchase price, which management intends to achieve through a mix of corporate debt and equity.
No details are available as yet, but the company expects this deal to be EPS accretive, note the analysts. Target lifts to $4.55 from $3.64. Outperform rating retained.
The analysts point out the company is still in discussions with KKR re a potential bid at $3.60 per share.
Target price is $4.55 Current Price is $3.53 Difference: $1.02
If PEP meets the Macquarie target it will return approximately 29% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 9.50 cents and EPS of 37.90 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 11.10 cents and EPS of 44.40 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates PGH as Hold (3) -
Morgans forecasts operating earnings growth of 9% in FY17. The broker believes the general environment is tough and earnings growth will be driven by prior acquisitions.
The company will report its results on August 16. Hold rating retained and the target is lowered to $6.10 from $6.88.
Target price is $6.10 Current Price is $5.90 Difference: $0.2
If PGH meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $6.58, suggesting upside of 12.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 25.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.5, implying annual growth of 19.0%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 16.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 27.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.0, implying annual growth of 15.9%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates PPT as Downgrade to Sell from Neutral (5) -
Citi notes the fourth quarter should have been a strong one for super flows, with investors moving ahead of regulatory changes, but this was not in evidence.
The broker reduces estimates for FY17 earnings by -0.2% and FY18-19 by -3%. Citi believes the company may need to accelerate its transition and targeted growth strategies if its recent run of relatively poor investment performances continues.
Rating is downgraded to Sell from Neutral. Target is reduced to $50.25 from $50.80.
Target price is $50.25 Current Price is $54.27 Difference: minus $4.02 (current price is over target).
If PPT meets the Citi target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $49.31, suggesting downside of -4.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 265.00 cents and EPS of 289.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.8, implying annual growth of -2.8%. Current consensus DPS estimate is 259.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 275.00 cents and EPS of 301.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 299.3, implying annual growth of 5.8%. Current consensus DPS estimate is 273.4, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates PPT as Neutral (3) -
Flows disappointed Credit Suisse in the June quarter, down -5% and -2.5% below forecasts. The broker believes the company continues to struggle to attract funds under management and growth in the second half was lowest in retail and equities, which will put pressure on revenue margins.
Credit Suisse downgrades earnings estimates by -1% for FY17 and -2% for FY18-19. Neutral retained. Target is $51.
Target price is $51.00 Current Price is $54.27 Difference: minus $3.27 (current price is over target).
If PPT meets the Credit Suisse target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $49.31, suggesting downside of -4.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 260.00 cents and EPS of 287.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.8, implying annual growth of -2.8%. Current consensus DPS estimate is 259.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 275.00 cents and EPS of 301.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 299.3, implying annual growth of 5.8%. Current consensus DPS estimate is 273.4, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates PPT as Sell (5) -
Assets under management fell -4.6% in the June quarter with -$1.0bn in net outflows. UBS continues to envisage downside risks, with little evidence of the ability to generate non-market organic growth in Perpetual's key division.
Sell rating retained. Target is reduced to $47.55 from $48.70.
Target price is $47.55 Current Price is $54.27 Difference: minus $6.72 (current price is over target).
If PPT meets the UBS target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $49.31, suggesting downside of -4.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 257.00 cents and EPS of 279.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.8, implying annual growth of -2.8%. Current consensus DPS estimate is 259.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 256.00 cents and EPS of 279.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 299.3, implying annual growth of 5.8%. Current consensus DPS estimate is 273.4, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates RCG as Downgrade to Neutral from Buy (3) -
Now that the share price has bounced, a lot, since Citi decided to upgrade to Buy in late May, the decision has been made to downgrade back to Neutral.
Citi analysts note, with regards to the upcoming reporting season, RCG Corp has disappointed investors at each of its last financial reporting releases.
The analysts also highlight they remain concerned about elevated levels of discounting throughout the industry.
Target price is $0.91 Current Price is $0.85 Difference: $0.06
If RCG meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 5.40 cents and EPS of 6.70 cents. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 5.30 cents and EPS of 6.40 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates S32 as Downgrade to Neutral from Buy (3) -
Operational challenges that have affected the company in FY17 have rolled into FY18 and Citi also retains a bearish outlook on the coal price.
Citi has downgraded coal-nickel and silver prices but upgraded aluminium prices. The target is reduced to $2.70 from $2.95 and as a result the broker downgrades to Neutral from Buy.
Target price is $2.70 Current Price is $2.79 Difference: minus $0.09 (current price is over target).
If S32 meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 11.92 cents and EPS of 27.02 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 9.27 cents and EPS of 18.28 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates S32 as Outperform (1) -
The company sustained a soft finish to FY17, with several small production misses. Credit Suisse suggests there is a risk to current FY18 guidance for both South African coal and Cannington but awaits the August results for more visibility.
Outperform and $2.95 target retained.
Target price is $2.95 Current Price is $2.79 Difference: $0.16
If S32 meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 11.55 cents and EPS of 28.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 8.11 cents and EPS of 20.46 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
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
Deutsche Bank rates S32 as Hold (3) -
June quarter production missed Deutsche Bank's expectations. Further guidance downgrades are likely in FY18 in the broker's opinion, as Illawarra, Cannington and South African coal are all experiencing issues with operations.
Realised prices for manganese and metallurgical coal were better than expected and this has led to a 7% upgrade to FY17 earnings estimates despite the weaker production.
Deutsche Bank reduces FY18 earnings estimates by -16%. Hold rating retained on valuation. Target is $2.60.
Target price is $2.60 Current Price is $2.79 Difference: minus $0.19 (current price is over target).
If S32 meets the Deutsche Bank target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 13.25 cents and EPS of 29.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 9.27 cents and EPS of 19.87 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates S32 as Outperform (1) -
South32's June quarter production report revealed Worsley, South Africa Energy Coal and GEMCO all missed production forecasts, but the real disappointment came from silver and lead production from Cannington, comment the Macquarie analysts.
In response, Macquarie analysts have cut silver, lead, and zinc FY18 production forecasts for Cannington by -20-35% to account for lost crusher availability. In addition, they note FY18 has become an increasingly important transitional year for Cannington which represents circa 25% of the stockbroker's Net Present Value (NPV).
Finally, South32 still has ample balance sheet capacity to either double the size of the current share buyback or upgrade its dividend in kind, say the analysts. Outperform rating retained. Target price loses 10c to $3.20.
Target price is $3.20 Current Price is $2.79 Difference: $0.41
If S32 meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 11.79 cents and EPS of 29.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 9.80 cents and EPS of 24.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates S32 as Buy (1) -
Ord Minnett found June quarter production mixed and full-year output generally short of guidance. The broker acknowledges concerns about operations overhang the stock and believes these are non-structural.
Buy rating and $3.00 target retained.
Target price is $3.00 Current Price is $2.79 Difference: $0.21
If S32 meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 14.57 cents and EPS of 31.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 10.60 cents and EPS of 17.22 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates S32 as Buy (1) -
The June quarter disappointed UBS, as Cannington, manganese and South African coal were all below guidance, which had already been downgraded.
Higher shipments have offset the weaker production and UBS maintains its expectations for FY17 earnings of US$1.6bn.
Buy rating and $3.00 target retained.
Target price is $3.00 Current Price is $2.79 Difference: $0.21
If S32 meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.98, suggesting upside of 9.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 11.92 cents and EPS of 29.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 10.60 cents and EPS of 27.82 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.6, implying annual growth of -22.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 12.6. |
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
Citi rates STO as Buy (1) -
Production of 14.7mmboe was 5% ahead of Citi's estimates and sales revenue was also ahead on higher third-party sales.
Citi forecasts a cash flow break-even oil price of US$30/bbl in 2017 for the company and US$35/bbl in 2018 as drilling activity picks up.
Citi maintains a Buy rating and raises the target to $4.24 from $4.23.
Target price is $4.24 Current Price is $3.27 Difference: $0.97
If STO meets the Citi target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 10.07 cents and EPS of 16.56 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 10.20 cents and EPS of 19.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates STO as Outperform (1) -
Credit Suisse welcomes the solid operations in the June quarter, noting all changes in guidance were marginally positive. The broker looks forward to more guidance on costs at the first half result to make modelling easier.
The broker's forecasts for 2017 earnings per share are raised by 1% and 2018 raised by 15%. Credit Suisse points to its more aggressive forecast for oil prices of US$61.50/bbl for the second half and US$65/bbl for 2018.
Outperform retained. Target rises to $4.00 from $3.80.
Target price is $4.00 Current Price is $3.27 Difference: $0.73
If STO meets the Credit Suisse target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 0.00 cents and EPS of 27.33 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 14.78 cents and EPS of 36.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates STO as Buy (1) -
June quarter production was in line with Deutsche Bank's forecast and down -1% on the March quarter. Revenue was 6% above the broker's forecasts, driven largely by higher third-party sales on which the company earns little margin.
Deutsche Bank retains a Buy rating and $4.25 target.
Target price is $4.25 Current Price is $3.27 Difference: $0.98
If STO meets the Deutsche Bank target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 EPS of 15.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 EPS of 20.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates STO as Overweight (1) -
The company has sustained a strong June quarter, driven by production upgrades, reduction in debt and cost momentum, Morgan Stanley observes.
Nevertheless, the stock has underperformed its peers. Overweight retained. Target is reduced to $3.99 from $4.04. Industry view: In-Line.
Target price is $3.99 Current Price is $3.27 Difference: $0.72
If STO meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 3.97 cents and EPS of 11.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 3.97 cents and EPS of 8.48 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates STO as Buy (1) -
Ord Minnett observes operations were robust in the June quarter and cash flow was strong. The broker believes investors should take some comfort in the fact that debt will continue to reduce even if oil prices remain weak.
The broker maintains a Speculative Buy recommendation and raises the target to $3.85 then $3.80.
Target price is $3.85 Current Price is $3.27 Difference: $0.58
If STO meets the Ord Minnett target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 5.30 cents and EPS of 15.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 2.65 cents and EPS of 13.25 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates STO as Neutral (3) -
UBS observes the cost focus shows no sign of abating, with guidance trimmed. Drilling activity has increased at GLNG and in the Cooper, with no increase in capital expenditure.
UBS retains a Neutral rating and raises the target to $3.40 from $3.30.
Target price is $3.40 Current Price is $3.27 Difference: $0.13
If STO meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.86, suggesting upside of 18.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 0.00 cents and EPS of 19.87 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.1, implying annual growth of N/A. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 10.60 cents and EPS of 29.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.1, implying annual growth of 35.1%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 14.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SUL as Buy (1) -
The stock has de-rated over the last 18 months to reflect concerns about Amazon's entry into Australia and a soft retail sector.
Deutsche Bank believes the company is navigating the tough environment well and as a category leader can take market share from less efficient and less differentiated retailers, which suggests the threat has been overblown.
The broker believes 11% EBIT growth is highly achievable. Buy rating retained. Target is $11.50.
Target price is $11.50 Current Price is $8.28 Difference: $3.22
If SUL meets the Deutsche Bank target it will return approximately 39% (excluding dividends, fees and charges).
Current consensus price target is $10.20, suggesting upside of 20.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 43.00 cents and EPS of 64.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.5, implying annual growth of 106.0%. Current consensus DPS estimate is 45.0, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 44.00 cents and EPS of 72.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 74.3, implying annual growth of 13.4%. Current consensus DPS estimate is 50.7, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SYD as Upgrade to Add from Hold (1) -
Strong passenger growth continued into June, driven by high load factors in larger aircraft. Morgans observes international growth is running well above long-term trends. The broker makes minor upgrades to earnings forecasts.
Rating is upgraded to Add from Hold. Target is raised to $7.40 from $7.18.
Target price is $7.40 Current Price is $7.08 Difference: $0.32
If SYD meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $7.00, suggesting downside of -0.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.3, implying annual growth of 13.7%. Current consensus DPS estimate is 33.9, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 43.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 36.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.4, implying annual growth of 12.9%. Current consensus DPS estimate is 36.5, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 38.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SYD as Neutral (3) -
International traffic growth is tracking better than UBS expected. Even assuming this moderates back to 4% per annum the broker envisages a period of stable 8% per annum growth over the next three years.
The broker believes the valuation reflects superior characteristics. Neutral retained. Target is raised to $7.30 from $6.60.
Target price is $7.30 Current Price is $7.08 Difference: $0.22
If SYD meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $7.00, suggesting downside of -0.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 34.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.3, implying annual growth of 13.7%. Current consensus DPS estimate is 33.9, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 43.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 38.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.4, implying annual growth of 12.9%. Current consensus DPS estimate is 36.5, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 38.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WPL as Sell (5) -
June quarter production was in line with Citi's estimates although sales were -2% lower on the timing of North West Shelf domestic gas reversion.
While the company has stated final commissioning for Wheatstone is nearing completion, Citi envisages risks still exist to timing and 2017 production guidance. Sell rating retained. Target is reduced to $27.44 from $27.50.
Target price is $27.44 Current Price is $29.93 Difference: minus $2.49 (current price is over target).
If WPL meets the Citi target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 131.13 cents and EPS of 164.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 143.05 cents and EPS of 178.41 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WPL as Underperform (5) -
June quarter production was a little softer than Credit Suisse expected but with no updated 2017 guidance, the broker expects that the 84-90mmboe still stands.
Credit Suisse believes the challenge for the North West Shelf joint venture is not agreement on a tolling fee but getting alignment from the partners on which gas should be processed through the plant.
Underperform rating retained. Target is $26.80.
Target price is $26.80 Current Price is $29.93 Difference: minus $3.13 (current price is over target).
If WPL meets the Credit Suisse target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 122.44 cents and EPS of 153.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 145.52 cents and EPS of 181.46 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WPL as Hold (3) -
June quarter production was -9% below Deutsche Bank's estimates on an earlier-than-expected decline in the North West Shelf domestic gas share.
The production miss flows through to weaker June quarter revenue, -4% below Deutsche Bank's estimates, albeit proportionately less than the production miss because of domestic gas being a lower value product.
Price target is $27.60. Hold rating retained.
Target price is $27.60 Current Price is $29.93 Difference: minus $2.33 (current price is over target).
If WPL meets the Deutsche Bank target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 EPS of 144.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 EPS of 149.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WPL as Overweight (1) -
June quarter production was slightly below Morgan Stanley's expectations. The broker believes the longer term story is intact and that production and free cash flow are set to rise.
Morgan Stanley believes Woodside retains a better medium-term growth profile than its peers and with low-cost assets this leads to strong free cash flow.
Target is raised to $36.65 from $36.60. Overweight rating and In-Line industry view retained.
Target price is $36.65 Current Price is $29.93 Difference: $6.72
If WPL meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 109.93 cents and EPS of 137.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 115.23 cents and EPS of 144.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WPL as Hold (3) -
Production was better than Ord Minnett expected in the June quarter at both North West Shelf LNG and Pluto. Realised prices were slightly softer in the quarter and revenue was below the broker's forecasts but good progress is seen being made.
Ord Minnett maintains a Hold rating and $30 target.
Target price is $30.00 Current Price is $29.93 Difference: $0.07
If WPL meets the Ord Minnett target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 135.10 cents and EPS of 169.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 145.70 cents and EPS of 182.78 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WPL as Buy (1) -
The drop in output in the North West Shelf in the June quarter was not as significant as UBS expected. First LNG from Wheatstone is considered imminent.
Overall, UBS believes the quarter was solid. Buy retained. Target is reduced to $34 from $35.
Target price is $34.00 Current Price is $29.93 Difference: $4.07
If WPL meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $30.34, suggesting upside of 3.2% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 112.58 cents and EPS of 140.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 150.4, implying annual growth of N/A. Current consensus DPS estimate is 118.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 19.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 120.53 cents and EPS of 150.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 171.4, implying annual growth of 14.0%. Current consensus DPS estimate is 136.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 17.1. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| ALQ - | ALS LIMITED | Buy - Citi | Overnight Price $7.18 |
| Outperform - Credit Suisse | Overnight Price $7.18 | ||
| Hold - Deutsche Bank | Overnight Price $7.18 | ||
| Outperform - Macquarie | Overnight Price $7.18 | ||
| AMC - | AMCOR | Hold - Morgans | Overnight Price $15.62 |
| ANN - | ANSELL | Overweight - Morgan Stanley | Overnight Price $22.29 |
| Hold - Ord Minnett | Overnight Price $22.29 | ||
| Sell - UBS | Overnight Price $22.29 | ||
| AWC - | ALUMINA | Underperform - Credit Suisse | Overnight Price $1.92 |
| Hold - Deutsche Bank | Overnight Price $1.92 | ||
| Accumulate - Ord Minnett | Overnight Price $1.92 | ||
| AZJ - | AURIZON HOLDINGS | Downgrade to Underperform from Neutral - Macquarie | Overnight Price $5.29 |
| BBN - | BABY BUNTING | Downgrade to Neutral from Buy - Citi | Overnight Price $1.90 |
| BHP - | BHP BILLITON | Add - Morgans | Overnight Price $24.97 |
| CCP - | CREDIT CORP GROUP | Downgrade to Hold from Add - Morgans | Overnight Price $17.72 |
| EVN - | EVOLUTION MINING | Buy - Citi | Overnight Price $2.16 |
| Outperform - Credit Suisse | Overnight Price $2.16 | ||
| Buy - Deutsche Bank | Overnight Price $2.16 | ||
| Outperform - Macquarie | Overnight Price $2.16 | ||
| Buy - UBS | Overnight Price $2.16 | ||
| FBU - | FLETCHER BUILDING | Outperform - Credit Suisse | Overnight Price $7.05 |
| Buy - Deutsche Bank | Overnight Price $7.05 | ||
| Buy - UBS | Overnight Price $7.05 | ||
| JHX - | JAMES HARDIE | Buy - Deutsche Bank | Overnight Price $19.17 |
| MQA - | MACQUARIE ATLAS ROADS | Outperform - Macquarie | Overnight Price $5.75 |
| MTR - | MANTRA GROUP | Upgrade to Hold from Sell - Deutsche Bank | Overnight Price $3.01 |
| MYR - | MYER | Buy - Citi | Overnight Price $0.74 |
| Hold - Deutsche Bank | Overnight Price $0.74 | ||
| Neutral - Macquarie | Overnight Price $0.74 | ||
| Equal-weight - Morgan Stanley | Overnight Price $0.74 | ||
| Lighten - Ord Minnett | Overnight Price $0.74 | ||
| Sell - UBS | Overnight Price $0.74 | ||
| NEC - | NINE ENTERTAINMENT | Upgrade to Equal-weight from Underweight - Morgan Stanley | Overnight Price $1.38 |
| ORA - | ORORA | Add - Morgans | Overnight Price $2.81 |
| PEP - | PEPPER GROUP | Outperform - Macquarie | Overnight Price $3.53 |
| PGH - | PACT GROUP | Hold - Morgans | Overnight Price $5.90 |
| PPT - | PERPETUAL | Downgrade to Sell from Neutral - Citi | Overnight Price $54.27 |
| Neutral - Credit Suisse | Overnight Price $54.27 | ||
| Sell - UBS | Overnight Price $54.27 | ||
| RCG - | RCG CORP | Downgrade to Neutral from Buy - Citi | Overnight Price $0.85 |
| S32 - | SOUTH32 | Downgrade to Neutral from Buy - Citi | Overnight Price $2.79 |
| Outperform - Credit Suisse | Overnight Price $2.79 | ||
| Hold - Deutsche Bank | Overnight Price $2.79 | ||
| Outperform - Macquarie | Overnight Price $2.79 | ||
| Buy - Ord Minnett | Overnight Price $2.79 | ||
| Buy - UBS | Overnight Price $2.79 | ||
| STO - | SANTOS | Buy - Citi | Overnight Price $3.27 |
| Outperform - Credit Suisse | Overnight Price $3.27 | ||
| Buy - Deutsche Bank | Overnight Price $3.27 | ||
| Overweight - Morgan Stanley | Overnight Price $3.27 | ||
| Buy - Ord Minnett | Overnight Price $3.27 | ||
| Neutral - UBS | Overnight Price $3.27 | ||
| SUL - | SUPER RETAIL | Buy - Deutsche Bank | Overnight Price $8.28 |
| SYD - | SYDNEY AIRPORT | Upgrade to Add from Hold - Morgans | Overnight Price $7.08 |
| Neutral - UBS | Overnight Price $7.08 | ||
| WPL - | WOODSIDE PETROLEUM | Sell - Citi | Overnight Price $29.93 |
| Underperform - Credit Suisse | Overnight Price $29.93 | ||
| Hold - Deutsche Bank | Overnight Price $29.93 | ||
| Overweight - Morgan Stanley | Overnight Price $29.93 | ||
| Hold - Ord Minnett | Overnight Price $29.93 | ||
| Buy - UBS | Overnight Price $29.93 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 31 |
| 2. Accumulate | 1 |
| 3. Hold | 20 |
| 4. Reduce | 1 |
| 5. Sell | 8 |
Friday 21 July 2017
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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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