Australian Broker Call
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February 18, 2019
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1).
Last Updated: 05:00 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end.
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Today's Upgrades and Downgrades
| ABP - | ABACUS PROPERTY GROUP | Downgrade to Neutral from Buy | Citi |
| BBN - | BABY BUNTING | Upgrade to Outperform from Neutral | Macquarie |
| DHG - | DOMAIN HOLDINGS | Downgrade to Neutral from Outperform | Macquarie |
| HLS - | HEALIUS | Upgrade to Add from Hold | Morgans |
| LNK - | LINK ADMINISTRATION | Upgrade to Accumulate from Hold | Ord Minnett |
| Downgrade to Sell from Hold | Deutsche Bank |
Overnight Price: $3.61
Citi rates ABP as Downgrade to Neutral from Buy (3) -
On Citi's assessment, reported EPS proved a disappointment, but market consensus was positioned much lower. The underlying suggestion here is that Citi's forecast was too high, but elsewhere peers would have received Abacus' financial performance as a solid beat.
The analysts remain firm supporters of management's new strategy. But they also believe the share price has rallied too strongly, hence the downgrade to Neutral from Buy. Target falls to $3.87 from $3.91.
Citi analysts explain their valuation remains largely immune from the reduction in forecasts, because higher asset values assist their Net Asset Value (NAV) valuation, largely offsetting lower earnings estimates.
Target price is $3.87 Current Price is $3.61 Difference: $0.26
If ABP meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 18.50 cents and EPS of 26.10 cents. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 19.00 cents and EPS of 29.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ABP as Hold (3) -
First half results were ahead of Ord Minnett's forecasts. Distribution guidance has been maintained at 18.5c for FY19, up 2.8%.
Ord Minnett believes the reduced weighting of retail and residential segments will free up capital to fund acquisition and development opportunities in storage and office.
The full re-positioning is expected to take another 1-2 years. Hold rating maintained. Target rises to $3.40 from $3.30.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.40 Current Price is $3.61 Difference: minus $0.21 (current price is over target).
If ABP meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 18.00 cents and EPS of 22.00 cents. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 19.00 cents and EPS of 25.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AMP as Neutral (3) -
AMP pre-reported so the focus of the 2018 results was on the composition of earnings and what the business might look like going forward.
Macquarie observes more clarity around the remaining businesses but notes the company has made its third material reduction to estimates in the last six months.
Still, re-basing removes an overhang and the broker expects 2019 to be a transition year.
There is limited scope for the stock to re-rate and Macquarie maintains a Neutral rating. Target is reduced to $2.30 from $2.50.
Target price is $2.30 Current Price is $2.15 Difference: $0.15
If AMP meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.33, suggesting upside of 8.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 12.50 cents and EPS of 13.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 14.50 cents and EPS of 18.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 15.2, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates AMP as Hold (3) -
AMP's 2018 result met guidance but the broker believes the stock has a long hard slog ahead. Morgans dubs 2019 a transitional year and downgrades FY19/FY20 profit forecasts -7% and -14% and cuts the target price to $2.37 from $2.61.
On the upside, the broker notes improved transparency, solid operating earnings growth, a decent performance in Capital Investors, lower controllable costs and a commitment to return the majority of cash proceeds from the Life business sale.
On the downside, rebased earnings are down -32%, issues remain in Wealth Management, particularly margin compression, and a lower second-half reflects industry headwinds.
Hold retained, the broker believing the stock is bottoming but a turnaround will take time.
Target price is $2.37 Current Price is $2.15 Difference: $0.22
If AMP meets the Morgans target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $2.33, suggesting upside of 8.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 15.80 cents and EPS of 15.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 16.20 cents and EPS of 11.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 15.2, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AMP as Neutral (3) -
AMP's numbers had been pre-released, although net revenue margins were still weaker than the broker anticipated. Still, it's all about what happens from here.
Given the upheaval, the broker believes the worst must surely be behind AMP. The broker can't fault management's plans in 2019 but challenges remain significant and reshaping is really a 2020 story, meaning real change is only likely from 2021. This is too slow for the broker in a rapidly changing industry. Until the pathway is clear, the broker retains Neutral.
Target falls to $2.30 from $2.50.
Target price is $2.30 Current Price is $2.15 Difference: $0.15
If AMP meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.33, suggesting upside of 8.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 10.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 6.2%. Current consensus EPS estimate suggests the PER is 11.9. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 17.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.1, implying annual growth of N/A. Current consensus DPS estimate is 15.2, implying a prospective dividend yield of 7.1%. Current consensus EPS estimate suggests the PER is 11.9. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ANN ANSELL LIMITED
Commercial Services & Supplies
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Overnight Price: $25.34
Citi rates ANN as Buy (1) -
In initial response to Ansell's interim report release earlier today, Citi analysts believe it was a rather mixed report, but management tightened FY19 guidance towards the upper end of the range, where Citi had already positioned itself.
The share buyback seems to have a 4% positive impact on FY guidance, point out the analysts. They estimate market consensus will move higher by some 3% post release.
Target price is $28.50 Current Price is $25.34 Difference: $3.16
If ANN meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $25.86, suggesting upside of 2.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 68.98 cents and EPS of 143.38 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 138.7, implying annual growth of N/A. Current consensus DPS estimate is 66.5, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 101.45 cents and EPS of 184.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 159.9, implying annual growth of 15.3%. Current consensus DPS estimate is 75.2, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 15.8. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.59
UBS rates AQG as Buy (1) -
Alacer reported (Feb 6) slightly below the broker's forecast, but that's not material given everything rests on the sulphide project which is due to soon come online and this is rapidly being de-risked. Thereafter it will all come down to performance.
The broker retains Buy, target rises to $4.25 from $4.00.
Target price is $4.25 Current Price is $3.59 Difference: $0.66
If AQG meets the UBS target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $4.55, suggesting upside of 26.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 0.00 cents and EPS of 41.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.6, implying annual growth of N/A. Current consensus DPS estimate is 2.4, implying a prospective dividend yield of 0.7%. Current consensus EPS estimate suggests the PER is 8.2. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 0.00 cents and EPS of 47.11 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 46.8, implying annual growth of 7.3%. Current consensus DPS estimate is 4.7, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 7.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BBN BABY BUNTING GROUP LIMITED
Apparel & Footwear
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Overnight Price: $2.20
Citi rates BBN as Buy (1) -
Post results release, which appears to have "missed" on higher costs, Citi analysts have reduced estimates by -3%-5%, while citing risk the company might need to invest more to remain competitive vis a vis online peers. But like-for-like sales should grow in H2.
A slow dow in rolling out more stores plus higher operating costs are key responsible factors for scaling back estimates, the analysts explain. Rolling forward the valuation model has generated an unchanged price target of $2.65. Buy rating retained as Citi remains confident in the strong growth outlook medium term.
On their own assessment, Citi remains happily positioned above market consensus.
Target price is $2.65 Current Price is $2.20 Difference: $0.45
If BBN meets the Citi target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.75, suggesting upside of 25.0% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 7.80 cents and EPS of 11.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.4, implying annual growth of 65.2%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 10.50 cents and EPS of 15.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.6, implying annual growth of 28.1%. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates BBN as Upgrade to Outperform from Neutral (1) -
Macquarie found the first half results solid and in line with expectations. The likelihood of an upgrade has been reduced although the broker believes the upper end of guidance is achievable.
FY19 EBITDA guidance of $25-27m is reiterated. Macquarie upgrades to Outperform from Neutral and considers the recent weakness a buying opportunity. Target is raised to $2.65 from $2.25.
Target price is $2.65 Current Price is $2.20 Difference: $0.45
If BBN meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $2.75, suggesting upside of 25.0% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 8.00 cents and EPS of 11.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.4, implying annual growth of 65.2%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 9.80 cents and EPS of 13.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.6, implying annual growth of 28.1%. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BBN as Overweight (1) -
First half results were in line with expectations and the company has reiterated full year guidance. Morgan Stanley now assumes higher sales growth and higher reinvestment in FY19-21.
Upgrades to sales growth estimates are considered the biggest driver of upside for the stock. Target is $3. Overweight rating retained. Industry view is In-line.
Target price is $3.00 Current Price is $2.20 Difference: $0.8
If BBN meets the Morgan Stanley target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $2.75, suggesting upside of 25.0% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 7.90 cents and EPS of 11.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.4, implying annual growth of 65.2%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 10.50 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.6, implying annual growth of 28.1%. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BBN as Add (1) -
Baby Bunting's 2019 first-half result met the broker.
Morgan expects strong growth to continue in FY20, thanks to market share gains, organic store growth and a return to operating cost leverage.
The broker says the stock is on track to meet FY19 guidance.
The target price falls to $2.70 from $2.78 as Morgans reduces earnings-per-share forecasts -1.4%, -2.3% and -3.9% in FY19/FY20/FY21. Add rating retained, the broker believing investors would be hard-pressed to fund a stock with the quantum and duration of the stock's growth profile in the retail sector.
Target price is $2.70 Current Price is $2.20 Difference: $0.5
If BBN meets the Morgans target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $2.75, suggesting upside of 25.0% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 7.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.4, implying annual growth of 65.2%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 10.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.6, implying annual growth of 28.1%. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BIN BINGO INDUSTRIES LIMITED
Industrial Sector Contractors & Engineers
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Overnight Price: $1.21
Macquarie rates BIN as Outperform (1) -
In the trading update, a flat FY19 underlying outcome for operating earnings (EBITDA) is expected. This compares with previous forecasts for 15-20% growth.
Besides a market slowdown, the redevelopment program has been delayed and price adjustments deferred. Macquarie's main concern is the pace at which the market slowed.
The company is now more dependent on closing the DADI deal. The broker maintains an Outperform rating and $2.75 target.
Target price is $2.75 Current Price is $1.21 Difference: $1.54
If BIN meets the Macquarie target it will return approximately 127% (excluding dividends, fees and charges).
Current consensus price target is $2.86, suggesting upside of 136.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 3.90 cents and EPS of 9.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.9, implying annual growth of 9.0%. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 11.1. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 5.40 cents and EPS of 13.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.5, implying annual growth of 33.0%. Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 8.3. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.85
UBS rates BLD as Neutral (3) -
Following a series of downgrades the past twelve months, the broker's confidence in Boral's guidance has waned, leading to forecast cuts. Boral derives 50% of its earnings from housing and both US and Australian housing are in decline, Australia notably, and non-residential building carries downside risk if sentiment continues to deteriorate.
The broker has cut its target to $5.00 from $6.94 ahead of the company's result but retains Neutral, noting the market has already marked the stock down.
Target price is $5.00 Current Price is $4.85 Difference: $0.15
If BLD meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting upside of 23.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 24.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.9, implying annual growth of 6.1%. Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 12.2. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 24.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.9, implying annual growth of 12.5%. Current consensus DPS estimate is 27.8, implying a prospective dividend yield of 5.7%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $11.04
Citi rates BXB as Buy (1) -
On Citi's initial assessment, it appears Brambles' interim report has bettered expectations on most items, including underlying operational margin. The analysts note investors were nervous leading into the result, and this should now have a positive impact on the share price.
Target price is $12.10 Current Price is $11.04 Difference: $1.06
If BXB meets the Citi target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $11.18, suggesting upside of 1.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 24.21 cents and EPS of 55.41 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.6, implying annual growth of N/A. Current consensus DPS estimate is 34.6, implying a prospective dividend yield of 3.1%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 28.11 cents and EPS of 62.54 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 68.1, implying annual growth of 14.3%. Current consensus DPS estimate is 38.6, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 16.2. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
DHG DOMAIN HOLDINGS AUSTRALIA LIMITED
Real Estate
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Overnight Price: $2.54
Citi rates DHG as Neutral (3) -
Citi analysts spotted a "solid beat" and it was predominantly because of better cost control. They see potential for strong growth resuming once the property volume cycle turns for the better.
For now, however, cost growth is seen picking up again in 2H19 and Citi analysts do not expect to see a meaningful improvement in listing volumes until after the two elections in NSW and Federal.
Estimates have lifted 2-9%, and the price target risen to $2.60 from $2.45. Neutral rating retained.
Target price is $2.60 Current Price is $2.54 Difference: $0.06
If DHG meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 6.00 cents and EPS of 7.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 7.00 cents and EPS of 9.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates DHG as Neutral (3) -
First half results were ahead of Credit Suisse estimates. Upside was driven by an extra week of trading in December and the print business, which sustained cost reductions.
The broker expects revenue trends will continue into the second half. Neutral rating maintained.
The company stands to benefit from the cyclical recovery in volumes but a near-term turnaround appears unlikely to the broker. Target is reduced to $2.40 from $2.50.
Target price is $2.40 Current Price is $2.54 Difference: minus $0.14 (current price is over target).
If DHG 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 $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 6.00 cents and EPS of 7.29 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 8.00 cents and EPS of 8.72 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates DHG as Downgrade to Neutral from Outperform (3) -
First half results were robust, given the weaker listings environment, Macquarie notes. Nevertheless there are risks in the near term and the broker downgrades to Neutral from Outperform.
Macquarie reduces FY19 estimates by -1.2% and raises FY20 estimates by 3.3%. Target is raised to $2.60 from $2.50.
Target price is $2.60 Current Price is $2.54 Difference: $0.06
If DHG meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 6.50 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 8.00 cents and EPS of 8.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates DHG as Overweight (1) -
A poor first half was expected, Morgan Stanley points out. The broker suspects, with lower costs in the second half, full year expectations are likely to be met.
No specific guidance was provided. Target is $3.20. Industry view is Attractive. Overweight rating retained.
Target price is $3.20 Current Price is $2.54 Difference: $0.66
If DHG meets the Morgan Stanley target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 4.10 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 5.30 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates DHG as Hold (3) -
Domain's first-half result met the broker, thanks to solid revenue growth.
National property listings volumes were weak but the stock benefited from rising prices as buyers shifted to more expensive ads. Cost control was solid.
Morgans upgrades profit forecasts and raises the target price to $2.31 from $2.22. Hold recommendation retained given the stock is trading above the target price.
Target price is $2.31 Current Price is $2.54 Difference: minus $0.23 (current price is over target).
If DHG meets the Morgans target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 7.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 8.40 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates DHG as Accumulate (2) -
First half results were weaker than Ord Minnett forecast. With continued investment in transactions and accelerating print declines, the broker lowers FY19-21 estimates.
Still, Ord Minnett envisages potential upside post the Nine Entertainment ((NEC)) merger with Fairfax and from the valuation discount to REA Group ((REA)).
An Accumulate rating is maintained. Target is reduced to $3.25 from $3.50.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $3.25 Current Price is $2.54 Difference: $0.71
If DHG meets the Ord Minnett target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 6.00 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 8.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates DHG as Neutral (3) -
No news must be good news, the broker suggests in response to Domain's 21% pop post-result, given little was forthcoming from the release. The market had priced the stock down and there was a large short position.
The broker prices the stock at $2.50 "through the cycle", expecting an eventual rebound in Syd/Melb house prices. Near term there remains downside risk, with no guidance forthcoming, but the broker is more positive longer term and hints that were Nine Entertainment ((NEC)) to do well in its other ventures, the remaining 40% of Domain might be enticing.
Neutral and $2.75 target retained.
Target price is $2.75 Current Price is $2.54 Difference: $0.21
If DHG meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.73, suggesting upside of 7.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 7.00 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.6, implying annual growth of N/A. Current consensus DPS estimate is 6.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.4. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 6.00 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.6, implying annual growth of 26.3%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $6.38
Macquarie rates FMG as Outperform (1) -
Macquarie upgrades earnings estimates for Australian iron ore to incorporate higher near-term iron ore prices. Fortescue's FY19 and FY20 estimates are raised by 40%.
Outperform rating reiterated. Target is raised 19% to $7.50.
Target price is $7.50 Current Price is $6.38 Difference: $1.12
If FMG meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $5.61, suggesting downside of -12.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 62.00 cents and EPS of 92.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.6, implying annual growth of N/A. Current consensus DPS estimate is 42.8, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 11.1. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 58.00 cents and EPS of 92.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.7, implying annual growth of -15.5%. Current consensus DPS estimate is 38.6, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 13.1. |
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
Overnight Price: $12.92
Macquarie rates GMG as Outperform (1) -
Macquarie suspects holding the distribution steady is a conservative move at this point in the cycle. The company has retained FY19 distribution guidance of $0.30 per security and indicated FY20 would be the same.
Capital is being retained for redeployment into the development pipeline. Outperform maintained. Target is raised to $13.69 from $13.51.
Target price is $13.69 Current Price is $12.92 Difference: $0.77
If GMG meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $12.48, suggesting downside of -3.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 30.00 cents and EPS of 51.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of -9.0%. Current consensus DPS estimate is 30.0, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 23.2. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 30.00 cents and EPS of 56.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.93
Citi rates HLS as Neutral (3) -
The release of interim financials and FY19 guidance proved yet another disappointment for analysts at Citi. They have retained the Neutral rating, while leaving EPS estimates for FY19-FY21 largely intact. Target price remains $2.90.
In terms of the revised guidance, Citi remains sceptical whether this can actually be achieved. The analysts seem to have hedged against yet another "miss" (if not profit warning), by retaining forecasts below revised guidance.
There are a lot of moving parts, point out the analysts, and they wouldn't dismiss the possibility that more suitors are waiting to announce their interest.
Target price is $2.90 Current Price is $2.93 Difference: minus $0.03 (current price is over target).
If HLS meets the Citi target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 8.80 cents and EPS of 14.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 9.00 cents and EPS of 16.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates HLS as Underperform (5) -
The company has downgraded FY19 net profit guidance to $93-98m. First half results were below Credit Suisse estimates.
Despite a soft flu season, growth in the first half was also affected by weak private hospital pathology volumes and soft conditions in imaging.
Credit Suisse finds no evidence there is is likely to be a return to strong industry growth in coming months.
Underperform rating maintained. Target is reduced to $2.35 from $2.45.
Target price is $2.35 Current Price is $2.93 Difference: minus $0.58 (current price is over target).
If HLS meets the Credit Suisse target it will return approximately minus 20% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 9.00 cents and EPS of 15.46 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 10.43 cents and EPS of 17.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates HLS as Hold (3) -
First half results revealed a more challenging market than previously expected, which has led to earnings guidance being downgraded.
Deutsche Bank notes some progress in the transformation of the business, with improved profitability at Health & Co and increased GP billings.
Hold rating and $2.92 target maintained.
Target price is $2.92 Current Price is $2.93 Difference: minus $0.01 (current price is over target).
If HLS 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 $2.92, suggesting downside of -0.3% (ex-dividends)
Forecast for FY19:
Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates HLS as No Rating (-1) -
First half underlying net profit was -15% below Macquarie's forecasts. Management expects improved industry conditions and the realisation of productivity benefits to support growth in the second half.
Macquarie is restricted on providing a rating and target at present.
Current Price is $2.93. Target price not assessed.
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 9.40 cents and EPS of 15.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 10.20 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates HLS as Equal-weight (3) -
First half earnings were below expectations. FY19 net profit guidance has been downgraded by around -5% at the mid point, which suggests to Morgan Stanley an unusually wide first versus second half split.
Net GP recruitment was also below the broker's estimates. Morgan Stanley maintains an Equal-weight rating and raises the target to $2.90 from $2.80. In-Line sector view.
Target price is $2.90 Current Price is $2.93 Difference: minus $0.03 (current price is over target).
If HLS meets the Morgan Stanley target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 8.20 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 9.40 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HLS as Upgrade to Add from Hold (1) -
Healius returned a soft first-half result thanks to external conditions and one-offs but management guided to a strong second-half recovery.
The broker spies several green shoots in the result and increases earnings forecasts for FY19-FY21 in anticipation of productivity intiatives and an improving earnings trajectory (pending market trends).
The stock is upgraded to Add from Hold. Target price rises to $3.15 from $2.90.
Target price is $3.15 Current Price is $2.93 Difference: $0.22
If HLS meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 9.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 11.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates HLS as Accumulate (2) -
First half results disappointed Ord Minnett. The -15% drop in pathology earnings was largely on the back of known issues but remains a cause for concern.
The broker believes diagnostics is underpinning much of the current value while the medical centres are still at an early stage of being turned around.
Accumulate rating and $3.30 target maintained.
Target price is $3.30 Current Price is $2.93 Difference: $0.37
If HLS meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 9.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 11.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates HLS as No Rating (-1) -
The broker suggests Healius' (nee Primary Health Care) earnings quality makes for difficult analysis and cash flow is more instructive, but doesn't note whether the result met forecasts. It's academic as the broker is advising and is thus restricted from making a recommendation.
Current Price is $2.93. Target price not assessed.
Current consensus price target is $2.92, suggesting downside of -0.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 9.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 9.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.1, implying annual growth of 11.8%. Current consensus DPS estimate is 10.0, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 18.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.46
Ord Minnett rates HSO as Hold (3) -
First half results were in line with the recent trading update. FY19 guidance for growth in hospital operating earnings of at least 10% has been confirmed.
Ord Minnett continues to believe the Brookfield takeover is most likely to proceed. Hold maintained and target is raised to $2.34 from $2.30.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.34 Current Price is $2.46 Difference: minus $0.12 (current price is over target).
If HSO meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.43, suggesting downside of -1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 7.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.9, implying annual growth of 71.2%. Current consensus DPS estimate is 6.9, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 27.6. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 7.00 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of 14.6%. Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 24.1. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $3.27
Deutsche Bank rates IPL as Buy (1) -
Deutsche Bank is now the view that Phosphate Hill will be shut for three months, as more details emerge about the extent of the devastating floods in North Queensland.
This has resulted in an -18% reduction to FY19 earnings estimates, although the broker notes it is too early to assess with any degree of precision the full extent of the damage.
The company is investigating measures to mitigate the earnings impact, including trucking product from the site and selling gas.
On the positive side, the broker notes demand for explosives is strong and will benefit from a lower Australian dollar. Buy rating and $4.70 target maintained.
Target price is $4.70 Current Price is $3.27 Difference: $1.43
If IPL meets the Deutsche Bank target it will return approximately 44% (excluding dividends, fees and charges).
Current consensus price target is $3.92, suggesting upside of 20.0% (ex-dividends)
Forecast for FY19:
Current consensus EPS estimate is 22.9, implying annual growth of 83.2%. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 14.3. |
Forecast for FY20:
Current consensus EPS estimate is 25.6, implying annual growth of 11.8%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $9.92
Morgans rates JIN as Add (1) -
Jumbo Interactive's first-half result outpaced the broker, thanks to strong jackpot activity. Operating leverage was strong, EBITDA rising 112%, outpacing the 58% revenue growth.
Morgans lifts the target price to $11.18 from $10.90 and notes a dividend in the second half could be on the cards.
The broker believes guidance is conservative. Earnings forecasts are raised 5% for FY19 and 2% for FY20. Add rating retained, Morgans expecting growth in national and charity lottery sales and noting the group's excellent capital position.
Target price is $11.18 Current Price is $9.92 Difference: $1.26
If JIN meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 38.00 cents and EPS of 41.00 cents. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 37.00 cents and EPS of 43.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LNK LINK ADMINISTRATION HOLDINGS LIMITED
Wealth Management & Investments
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Overnight Price: $6.92
Citi rates LNK as Buy (1) -
Citi found the negative surprise in the form of rising costs a disappointment, but otherwise, the analysts suggest, Link's medium term growth story remains unaffected. EPS estimates have been cut by -5%-6%.
Link's top five funds saw 4.8% growth and Citi notes, combined with management's cautious optimism about non-recurring revenues, the company might be able to offset the loss of CareSuper in H2.
Buy rating retained, while noting the company intends to update on how much of an impact proposed changes to super account consolidation are likely to have on its business. Price target has dropped to $8.20.
Target price is $8.20 Current Price is $6.92 Difference: $1.28
If LNK meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 23.00 cents and EPS of 42.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 25.50 cents and EPS of 46.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates LNK as Outperform (1) -
First half net profit was below Credit Suisse estimates, because of a miss on non-operating items. Operating earnings were marginally ahead.
The broker believes the company can deliver around 10% growth in earnings over the next 3-4 years, although this may not be linear.
The broker is increasingly confident, following industry fund re-pricing, that the company will be able, at least partially, to offset the impact of regulation on super account memberships.
Outperform rating and $8.20 target maintained.
Target price is $8.20 Current Price is $6.92 Difference: $1.28
If LNK meets the Credit Suisse target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 21.10 cents and EPS of 41.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 23.41 cents and EPS of 46.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates LNK as Downgrade to Sell from Hold (5) -
It is Deutsche Bank's view that reported results were broadly in-line with expectations, but there was also weakness in the Australian operations. On that observation, the analysts have decided to downgrade to Sell from Hold, while cutting the price target to $6.30 from $7.20.
Regulatory changes affecting funds management in Australia, among other factors, have Deutsche Bank worried about margin pressure in Australia over the next three years.
Target price is $6.30 Current Price is $6.92 Difference: minus $0.62 (current price is over target).
If LNK meets the Deutsche Bank target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
Forecast for FY19:
Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates LNK as Outperform (1) -
Macquarie was disappointed with the first half results, which missed forecasts, and expects costs will be better managed in the second half.
The broker suspects outer year earnings downgrades will be less material as expenses should normalise while synergies are weighted to the second half.
The broker considers the outlook improving and maintains an Outperform rating. Target is reduced to $8.40 from $8.70.
Target price is $8.40 Current Price is $6.92 Difference: $1.48
If LNK meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 21.50 cents and EPS of 41.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 22.50 cents and EPS of 43.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates LNK as Overweight (1) -
Morgan Stanley believes the business offers attractive defensive growth at a reasonable price. First half net profit missed expectations because of non-cash items.
Importantly, several concerns which caused the sell-off in November have played out better than expected, including fund administration project fees and the European business.
Overweight rating and $8.50 target maintained. Industry view is In-Line.
Target price is $8.50 Current Price is $6.92 Difference: $1.58
If LNK meets the Morgan Stanley target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 23.10 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 23.20 cents and EPS of 45.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates LNK as Add (1) -
Link Administration's first-half result missed consensus by -5% and the dividend disappointed at 8c - 0.5c less than consensus.
Despite integration windfalls being skewed to the second half, the broker notes falling revenue and softer margins and cuts FY19/FY20 earnings per share -7% and -8%.
Target price is revised down to $8.27 from $8.42 - still well above the share price.
The broker retains an Add rating despite the tough operating environment, noting the stock is trading on a price-earnings multiple of 15.5x FY20 estimates and says the long-term outlook hasn't been priced in.
Target price is $8.27 Current Price is $6.92 Difference: $1.35
If LNK meets the Morgans target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 21.70 cents and EPS of 42.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 23.10 cents and EPS of 45.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates LNK as Upgrade to Accumulate from Hold (2) -
First half net profit was weaker than Ord Minnett expected. The broker believes there could be positive surprises in the near term as PEXA gains traction and becomes a meaningful contributor.
Moreover, pending legislation is likely to lead to super funds spending more on implementing regulatory changes.
The broker upgrades to Accumulate from Hold and raises the target to $8.00 from $7.70.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $8.00 Current Price is $6.92 Difference: $1.08
If LNK meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 20.00 cents and EPS of 49.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 19.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates LNK as Buy (1) -
Link delivered revenues 5% ahead of the broker's forecast but fell short on earnings due to higher costs. But the broker believes the company's medium term outlook and value proposition remain strong.
Underlying member growth in funds admin is accelerating, solid performances from LAS and PEXA increase confidence in inorganic growth, and one-off headwinds from the May budget should now be easing, the broker suggests. Buy retained.
Target falls to $8.60 from $8.90.
Target price is $8.60 Current Price is $6.92 Difference: $1.68
If LNK meets the UBS target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $8.06, suggesting upside of 16.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 22.00 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.3, implying annual growth of 51.6%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 26.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.5, implying annual growth of 0.5%. Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.84
Citi rates MPL as Neutral (3) -
Post the release of interim financials, Citi analysts lift EPS estimates by 3-5%, with the analysts observing management is preparing for a new paradigm whereby members fees will only be increasing by a maximum of 2% per annum (which is Federal Labour's plan).
While the insurer seems to be executing well on its intentions, Citi nevertheless sticks to the view the outlook remains for relatively lacklustre EPS growth at best. Target rises to $2.85 from $2.70. Neutral rating retained.
Target price is $2.85 Current Price is $2.84 Difference: $0.01
If MPL meets the Citi target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 13.00 cents and EPS of 16.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 12.50 cents and EPS of 15.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates MPL as Neutral (3) -
First half results beat Credit Suisse estimates. The company experienced another half-year of policy-holder growth and benign claims inflation.
The broker also believes management is demonstrating an ability to turn around negative trends. Neutral rating and $2.50 target maintained.
Target price is $2.50 Current Price is $2.84 Difference: minus $0.34 (current price is over target).
If MPL meets the Credit Suisse target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 13.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 12.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MPL as Buy (1) -
First half results were strong and Deutsche Bank notes ambitious medium-term targets. The company has also flagged the possibility of capital management at its full year results.
The broker believes the threat from price caps has been over estimated by the market and the stock is a way to play the broader health trends. Buy rating and $3.10 target maintained.
Target price is $3.10 Current Price is $2.84 Difference: $0.26
If MPL meets the Deutsche Bank target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
Forecast for FY19:
Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MPL as Neutral (3) -
First half results were high-quality, Macquarie observes. The ability to continually outperform industry growth trends provides upside risk to forecasts, in the broker's view.
Still, headwinds persist and Macquarie points out the medium-term regulatory response is unclear. Neutral maintained. Target is raised to $2.80 from $2.65.
Target price is $2.80 Current Price is $2.84 Difference: minus $0.04 (current price is over target).
If MPL meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 13.40 cents and EPS of 15.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 10.50 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MPL as Underweight (5) -
First half results were solid, although Morgan Stanley finds the stock continues to look expensive.
The broker acknowledges the company is executing on its strategy but, given where it is trading, finds the risk/reward unattractive and reiterates an Underweight call.
Target is raised to $2.30 from $2.15. Industry view: In-Line.
Target price is $2.30 Current Price is $2.84 Difference: minus $0.54 (current price is over target).
If MPL meets the Morgan Stanley target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 15.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 EPS of 15.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates MPL as Hold (3) -
Medibank's first-half result romped in 5% ahead of consensus, as the stock let cyclical tailwinds fill its sails. Good industry claims utilisation trends were the standout.
Health Insurance recorded a strong gross profit margin of 16.8%, hospital and ancillary claims growth was low, and operating expenses fell. AHM policy growth was strong.
On the downside, the company reported lower investment income, lower reserve releases and average revenue per policyholder unit growth fell.
Morgans cuts earnings per share forecasts -2% to -5% across FY19/FY20 to reflect lower investment income assumptions. Hold retained, the broker believing the stock is trading at fair value on a price-earning multiple of 18x, and target price rises to $2.74 from $2.61.
Target price is $2.74 Current Price is $2.84 Difference: minus $0.1 (current price is over target).
If MPL meets the Morgans target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 12.50 cents and EPS of 15.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 12.50 cents and EPS of 15.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MPL as Lighten (4) -
First half results were ahead of Ord Minnett's forecasts. The broker suspects margins may have peaked.
Declining earnings prospects from FY20 signal to Ord Minnett the shares are too expensive and a Lighten rating is maintained. Target is raised to $2.30 from $2.23.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.30 Current Price is $2.84 Difference: minus $0.54 (current price is over target).
If MPL meets the Ord Minnett target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 13.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 12.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MPL as Sell (5) -
Medibank posted a solid beat of the broker's forecast, on cost savings, the absorption of regulatory costs and modest market share gains. However risks lie in the future, the broker warns, particularly with regard proposed Labor policy.
Reading between the lines of management commentary, the broker suggests the company is preparing for lower margins ahead. Target rises to $2.40 from $2.30, Sell retained.
Target price is $2.40 Current Price is $2.84 Difference: minus $0.44 (current price is over target).
If MPL meets the UBS target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.62, suggesting downside of -7.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 15.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.9, implying annual growth of -5.4%. Current consensus DPS estimate is 13.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 14.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of -2.5%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 18.3. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $25.05
Morgans rates NCM as Reduce (5) -
Newcrest Mining's half-year result pleased the broker with Cadia continuing to post a stellar performance, accounting for 74% of group earnings. Lihir reported higher gold output and grades, and is expected to turn in a stronger second-half as maintenance interruptions subside.
Morgans says the earnings reliance on Cadia explains the company's global discount to peers.
The broker notes the stock is trading at a substantial premium to its target price of $22.21 and maintains a Reduce rating.
Target price is $22.21 Current Price is $25.05 Difference: minus $2.84 (current price is over target).
If NCM meets the Morgans target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $23.44, suggesting downside of -6.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 21.69 cents and EPS of 105.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.5, implying annual growth of N/A. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 1.1%. Current consensus EPS estimate suggests the PER is 24.7. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 25.76 cents and EPS of 128.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.3, implying annual growth of 22.5%. Current consensus DPS estimate is 33.8, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 20.2. |
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
Overnight Price: $1.41
Morgan Stanley rates NEW as Equal-weight (3) -
The portfolio performance was in line with expectations in 2018. The company tripled megawatts under management to 0.5 gigawatts.
Morgan Stanley estimates this should provide 25% per annum growth in generation over FY19-20, as well as cash-covered distributions by FY21.
Equal-weight retained. Industry view: Cautious. Target is raised to $1.51 from $1.50.
Target price is $1.51 Current Price is $1.41 Difference: $0.1
If NEW meets the Morgan Stanley target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 EPS of 9.00 cents. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 EPS of 12.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $5.68
Citi rates NHF as Neutral (3) -
At face value, reported financials today look very strong, acknowledge Citi analysts. However, the result was propped up by $13m of reserve release, so investors shouldn't get too carried away is the analysts' advice.
FY19 guidance has been upgraded, but this brings it merely in-line with Citi's forecast. The analysts are not expecting much in terms of upgrades to market consensus forecasts.
Target price is $5.70 Current Price is $5.68 Difference: $0.02
If NHF meets the Citi target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $5.69, suggesting upside of 0.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 20.00 cents and EPS of 30.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.2, implying annual growth of 20.6%. Current consensus DPS estimate is 20.4, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 21.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of 5.0%. Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NHF as Hold (3) -
It appears as though reported numbers are well below Ord Minnett's forecast, but the analysts acknowledge a "mea culpa"; they had assumed too much seasonality. Revised guidance implies Ord Minnett's forecast for the full year is more or less accurate.
In an initial response to today's results release, the analysts applaud the inherent quality of today's report. Also, Ord Minnett notes the QBE travel acquisition has been delayed by one quarter; a small factor that needs to be considered in the result, suggest the analysts.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $5.34 Current Price is $5.68 Difference: minus $0.34 (current price is over target).
If NHF meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.69, suggesting upside of 0.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 17.65 cents and EPS of 35.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.2, implying annual growth of 20.6%. Current consensus DPS estimate is 20.4, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 17.6. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 19.82 cents and EPS of 36.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of 5.0%. Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
NWL NETWEALTH GROUP LIMITED
Wealth Management & Investments
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Overnight Price: $7.40
Citi rates NWL as Neutral (3) -
On initial assessment, Citi analysts believe the result report was in line with expectations. Management has provided no quantitative guidance for the full year, the analysts note.
Citi analysts remind investors they are already of the view management's guidance for margins is likely too conservative.
Target price is $8.05 Current Price is $7.40 Difference: $0.65
If NWL meets the Citi target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $7.68, suggesting upside of 3.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 11.10 cents and EPS of 15.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of 69.4%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 51.7. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 14.50 cents and EPS of 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.7, implying annual growth of 23.8%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 41.8. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NWL as Buy (1) -
In an initial assessment of today's released interim report, Ord Minnett suggests the market had been expecting a weak performance, but as it turns out, EBITDA grew by some 6% ahead of what the analysts had penciled in, with revenue margin a positive surprise.
The analysts also note the interim result is tracking ahead of management's guidance for the full year; the interim dividend of 5.5c was in line.
Target price is $7.85 Current Price is $7.40 Difference: $0.45
If NWL meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $7.68, suggesting upside of 3.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 11.90 cents and EPS of 13.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of 69.4%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 51.7. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 15.00 cents and EPS of 17.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.7, implying annual growth of 23.8%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 41.8. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $7.68
Morgan Stanley rates ORG as Overweight (1) -
The company will acquire OC Energy for $58m. OC Energy has 55,000 embedded network accounts and a further 30,000 in contracted developments.
Morgan Stanley observes individual embedded network accounts typically have very low churn, although the longer-term risk is greater, in which the whole building switches provider.
Overweight rating maintained. Target is $8.11. Industry view is Cautious.
Target price is $8.11 Current Price is $7.68 Difference: $0.43
If ORG meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $8.25, suggesting upside of 7.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 30.90 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 58.2, implying annual growth of 266.0%. Current consensus DPS estimate is 21.8, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 13.2. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 42.60 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 64.3, implying annual growth of 10.5%. Current consensus DPS estimate is 38.9, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 11.9. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PPE PEOPLE INFRASTRUCTURE LTD
Jobs & Skilled Labour Services
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Overnight Price: $2.37
Morgans rates PPE as Add (1) -
People Infrastructure's first-half result outpaced the broker thanks to top-line growth and margin expansion.
The broker upgrades earnings estimates for FY19 by 2.6%. Dividend rises 1c to 9c.
Add rating retained, the broker expecting industry tailwinds to support the company out to 2021. Target price jumps to $2.63 from $2.15.
Target price is $2.63 Current Price is $2.37 Difference: $0.26
If PPE meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 9.00 cents and EPS of 19.00 cents. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 10.00 cents and EPS of 20.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates PPE as Buy (1) -
First half results were solid and revenue growth better than Ord Minnett expected, as the mining and civil divisions continue to win new business.
Growth was also robust in the healthcare business although more is expected and this will be an area of focus over the next six months.
Ord Minnett believes the discount to peers is becoming increasingly unwarranted and upgrades the target to $2.74 from $2.07. Buy rating maintained.
Target price is $2.74 Current Price is $2.37 Difference: $0.37
If PPE meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 9.90 cents and EPS of 15.50 cents. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 11.50 cents and EPS of 18.30 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RHC RAMSAY HEALTH CARE LIMITED
Healthcare services
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Overnight Price: $59.83
UBS rates RHC as Neutral (3) -
UK NHS volumes rose 8.2% in December to take 12-month rolling growth to 3.9%. The data show a continuation of Ramsay's strong performance relative to peers, the broker notes, although overall industry growth remains relatively subdued.
Neutral and $56 target retained.
Target price is $56.00 Current Price is $59.83 Difference: minus $3.83 (current price is over target).
If RHC meets the UBS target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $59.48, suggesting downside of -0.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 148.00 cents and EPS of 292.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 284.5, implying annual growth of 1.7%. Current consensus DPS estimate is 147.9, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 21.0. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 160.00 cents and EPS of 315.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 308.8, implying annual growth of 8.5%. Current consensus DPS estimate is 160.1, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 19.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
SIQ SMARTGROUP CORPORATION LTD
Vehicle Leasing & Salary Packaging
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Overnight Price: $8.89
Macquarie rates SIQ as Outperform (1) -
2018 earnings were marginally below Macquarie's expectations. The company's performance was supported by organic growth as well as new employer client wins.
Despite the slower macro environment Macquarie observes continued revenue growth and improvements in operating efficiency. Outperform rating and $12.66 target.
Target price is $12.66 Current Price is $8.89 Difference: $3.77
If SIQ meets the Macquarie target it will return approximately 42% (excluding dividends, fees and charges).
Current consensus price target is $12.08, suggesting upside of 35.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 46.60 cents and EPS of 66.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 60.5, implying annual growth of N/A. Current consensus DPS estimate is 44.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 50.60 cents and EPS of 72.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 67.2, implying annual growth of 11.1%. Current consensus DPS estimate is 47.8, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.2. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.52
Deutsche Bank rates TAH as Buy (1) -
Deutsche Bank expects the lotteries business to record revenue growth of 17.6% in FY19 and 15.6% in the second half.
The broker does not allow for more reinvestment in wagering but increases earnings forecast by 2-3% after reviewing Jumbo Interactive's ((JIN)) guidance upgrade. Jumbo Interactive is the company's digital partner in lotteries.
Buy rating maintained. Target is raised to $5.50 from $5.35.
Target price is $5.50 Current Price is $4.52 Difference: $0.98
If TAH meets the Deutsche Bank target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $5.08, suggesting upside of 12.3% (ex-dividends)
Forecast for FY19:
Current consensus EPS estimate is 19.2, implying annual growth of 910.5%. Current consensus DPS estimate is 21.1, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 23.5. |
Forecast for FY20:
Current consensus EPS estimate is 21.8, implying annual growth of 13.5%. Current consensus DPS estimate is 23.4, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 20.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $12.17
Macquarie rates TCL as Neutral (3) -
The ACCC has required Transurban to release data around its individual roads in NSW, based on time of day, ramp and trip type.
Macquarie notes ramp growth across NSW roads has been relatively robust but this has hidden the underlying trend of softening traffic.
The broker maintains a Neutral rating and raises the target to $11.93 from $11.89.
Target price is $11.93 Current Price is $12.17 Difference: minus $0.24 (current price is over target).
If TCL meets the Macquarie target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $12.31, suggesting upside of 1.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 59.00 cents and EPS of 47.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.1, implying annual growth of -7.0%. Current consensus DPS estimate is 59.0, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 57.7. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 62.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.0, implying annual growth of 13.7%. Current consensus DPS estimate is 62.0, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 50.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TLS TELSTRA CORPORATION LIMITED
Telecommunication
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Overnight Price: $3.21
Morgan Stanley rates TLS as Underweight (5) -
Morgan Stanley fine-tunes FY19-21 estimates, raising them 1%. The broker believes the decision to reduce the dividend was the right one.
Morgan Stanley believes the challenge for Telstra is finding the right balance between investing sufficient money, taking advantage of new technologies, and maintaining its A grade credit rating as well as paying an appropriate dividend to shareholders.
Underweight rating. Target is raised to $2.70 from $2.60. Industry view: In-Line.
Target price is $2.70 Current Price is $3.21 Difference: minus $0.51 (current price is over target).
If TLS meets the Morgan Stanley target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $3.17, suggesting downside of -1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 16.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.6, implying annual growth of -34.7%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 16.4. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 16.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.8, implying annual growth of 1.0%. Current consensus DPS estimate is 16.0, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $2.53
Citi rates VCX as Neutral (3) -
Neutral rating retained and price target loses -2c to $2.60 as Citi analysts were surprised management's guidance for FY19 was merely maintained, instead of being upgraded on the back of delayed asset sales and an EPS accretive buyback.
The analysts suspect Net Operating Income (NOI) headwinds and lower fees might be responsible for the guidance disappointment. All in all, Citi finds the interim report is incrementally negative for Vicinity, with negative read-through for the retail REIT sector overall.
The analysts continue to be of the view investors are still underestimating the pressure on shopping centre values.
Target price is $2.60 Current Price is $2.53 Difference: $0.07
If VCX meets the Citi target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $2.83, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 15.80 cents and EPS of 18.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of -44.7%. Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 14.6. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 15.40 cents and EPS of 17.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of N/A. Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates VCX as Outperform (1) -
First half results were slightly below Credit Suisse estimates. Portfolio improvement is visible to the broker, also the environment for retail asset sales remains challenging.
Credit Suisse maintains an Outperform rating and $3.00 target.
Target price is $3.00 Current Price is $2.53 Difference: $0.47
If VCX meets the Credit Suisse target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.83, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 16.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of -44.7%. Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 14.6. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 15.00 cents and EPS of 17.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of N/A. Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates VCX as No Rating (-1) -
First half results were in line with expectations but Macquarie was surprised guidance was not lifted. The broker notes the company completed 178 short-term deals at spreads which were down -17%.
Despite limited progress on asset sales the company has reiterated guidance of 18.0-18.2c per share. Macquarie remains under research restriction.
Current Price is $2.53. Target price not assessed.
Current consensus price target is $2.83, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 16.00 cents and EPS of 17.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of -44.7%. Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 14.6. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 14.80 cents and EPS of 16.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of N/A. Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates VCX as Accumulate (2) -
First half results were below Ord Minnett's forecasts because of higher interest expense. Valuation metrics remain attractive to the broker, although sales are required to reduce exposure to underperforming assets.
The broker notes the balance sheet is in good shape and the $400m buyback will be reactivated. Hold maintained. Target is reduced to $2.80 from $2.90.
This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.
Target price is $2.80 Current Price is $2.53 Difference: $0.27
If VCX meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $2.83, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 16.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of -44.7%. Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 14.6. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 16.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.3, implying annual growth of N/A. Current consensus DPS estimate is 15.5, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 14.6. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $26.29
Citi rates WBC as Neutral (3) -
Westpac's Q1 update seems to have missed expectations at Citi by some -2%. This, point out the analysts, despite several supportive factors like mortgage re-pricing and benign bad debt charges.
In addition, Westpac has indicated recent Queensland floods are set to impact the general insurance business in 2Q19, highlight the analysts.
Target price is $31.00 Current Price is $26.29 Difference: $4.71
If WBC meets the Citi target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $27.93, suggesting upside of 6.2% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 196.00 cents and EPS of 229.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 231.4, implying annual growth of -2.0%. Current consensus DPS estimate is 189.3, implying a prospective dividend yield of 7.2%. Current consensus EPS estimate suggests the PER is 11.4. |
Forecast for FY20:
Current consensus EPS estimate is 234.4, implying annual growth of 1.3%. Current consensus DPS estimate is 189.3, implying a prospective dividend yield of 7.2%. Current consensus EPS estimate suggests the PER is 11.2. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Overnight Price: $4.55
Citi rates WHC as Buy (1) -
Whitehaven Coal's interim report missed expectations by some -7%, comment analysts at Citi. They note costs are rising, suggesting this is at least in part structural. Management's also downgraded production guidance for the full year.
Another negative is that Citi believes coal prices are "elevated". Offsetting all of this, the analysts see potential for more dividend payouts and have now upgraded their estimates to 46c per annum for each of FY19 and FY20. Buy rating retained. Target price falls to $5.10 from $5.90.
Target price is $5.10 Current Price is $4.55 Difference: $0.55
If WHC meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Citi forecasts a full year FY19 dividend of 46.00 cents and EPS of 61.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Citi forecasts a full year FY20 dividend of 46.00 cents and EPS of 50.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WHC as Outperform (1) -
First half numbers were softer than Credit Suisse expected but the drop in the share price is considered an overreaction. Nevertheless, this reflects continued problems at Narrabri.
Credit Suisse believes the next 18 months will be critical, in order to demonstrate 13mt ROM at Maules Creek can be sustained and provide evidence that Narrabri can negotiate the challenges. Any material expenditure on Vickery is likely to be some time away.
The broker maintains an Outperform rating and reduces the target to $5.10 from $5.50.
Target price is $5.10 Current Price is $4.55 Difference: $0.55
If WHC meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Credit Suisse forecasts a full year FY19 dividend of 42.91 cents and EPS of 61.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Credit Suisse forecasts a full year FY20 dividend of 35.97 cents and EPS of 27.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WHC as Buy (1) -
Deutsche Bank resets expectations after the first half production downgrade. While the issues facing the company, in isolation, are small, in aggregate this has dented confidence, the broker notes.
After the recent drop in the share price the broker finds only the current operating assets are factored into the market's outlook, with nothing attributed to Vickery or Winchester South.
Deutsche Bank maintains a Buy rating and reduces the target to $5.20 from $5.50.
Target price is $5.20 Current Price is $4.55 Difference: $0.65
If WHC meets the Deutsche Bank target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 40.00 cents and EPS of 69.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Deutsche Bank forecasts a full year FY20 dividend of 31.00 cents and EPS of 59.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WHC as Neutral (3) -
First half results slightly missed Macquarie's estimates. The company unexpectedly spent more on exploration in the first half.
Narrabri has been downgraded again, although Macquarie believes skipping the final end of LW108 will ultimately benefit earnings.
The broker maintains a Neutral rating and reduces the target to $4.40 from $4.70. Estimates for earnings per share in FY19 fall by -5.5%.
Target price is $4.40 Current Price is $4.55 Difference: minus $0.15 (current price is over target).
If WHC meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 34.00 cents and EPS of 56.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Macquarie forecasts a full year FY20 dividend of 20.00 cents and EPS of 23.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WHC as Overweight (1) -
Despite a downgrade to FY19 production and higher capital expenditure, Morgan Stanley believes the market has overreacted and is ignoring the value inherent in the stock.
FY19 production guidance is downgraded to 21.5-22.5mt of saleable coal.
Overweight rating maintained. Target is reduced to $5.55 from $6.00. Industry view: In-Line.
Target price is $5.55 Current Price is $4.55 Difference: $1
If WHC meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgan Stanley forecasts a full year FY19 dividend of 31.00 cents and EPS of 62.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Morgan Stanley forecasts a full year FY20 dividend of 20.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WHC as Add (1) -
Whitehaven Coal's first-half result met the broker. Management confirmed an increase in second-half dividends and the stock is set to approach net cash (ex leases) in the period.
Coal price volatility featured strongly and costs remained high. Morgans notes concerns at Narrabri and peaking margins but believes the forecast total shareholder return of 31% more than accounts for the risks. Morgans believes the margin cycle has peaked.
Target price falls to $5.40 from $5.82, the broker noting the volatile coal price. The dividend is trimmed to 23c from 27c. Broker maintains an Add rating, believing the stock is cheap and the market has overreacted.
Target price is $5.40 Current Price is $4.55 Difference: $0.85
If WHC meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Morgans forecasts a full year FY19 dividend of 43.00 cents and EPS of 59.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Morgans forecasts a full year FY20 dividend of 26.00 cents and EPS of 42.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WHC as Accumulate (2) -
First half results were broadly in line with Ord Minnett's expectations. A few areas disappointed, with production guidance being downgraded -2.2% and the dividend considered modest.
Cash flows were hindered by a build up in working capital. The broker maintains an Accumulate rating and reduces the target to $5.10 from $5.40.
Target price is $5.10 Current Price is $4.55 Difference: $0.55
If WHC meets the Ord Minnett target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
Ord Minnett forecasts a full year FY19 dividend of 45.00 cents and EPS of 58.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
Ord Minnett forecasts a full year FY20 dividend of 21.00 cents and EPS of 41.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WHC as Buy (1) -
Whitehaven's earnings were slightly below the broker but cash flow was a big miss, given unexpected stamp duty on the Winchester South purchase, a capex skew to the first half and a higher working capital build. There were all so some issues at Narrabri, and an adoption of new accounting standards has meant a hit to earnings.
Whitehaven's share price was down -11% as the broker wrote its report, which was too much as far as the broker was concerned, although it did recover to close down -6.7%. The broker does not see a re-rating until Narrabri stabilises and coal prices catch up to forecasts, but Buy retained.
Target falls to $5.85 from $6.00.
Target price is $5.85 Current Price is $4.55 Difference: $1.3
If WHC meets the UBS target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $5.21, suggesting upside of 14.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY19:
UBS forecasts a full year FY19 dividend of 50.00 cents and EPS of 60.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.0, implying annual growth of 14.7%. Current consensus DPS estimate is 41.5, implying a prospective dividend yield of 9.1%. Current consensus EPS estimate suggests the PER is 7.5. |
Forecast for FY20:
UBS forecasts a full year FY20 dividend of 46.00 cents and EPS of 56.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.6, implying annual growth of -30.2%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 10.7. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Today's Price Target Changes
| Company | Broker | New Target | Prev Target | Change | |
| ABP | ABACUS PROPERTY GROUP | Citi | 3.87 | 3.91 | -1.02% |
| Ord Minnett | 3.40 | 3.30 | 3.03% | ||
| AMP | AMP | Macquarie | 2.30 | 2.50 | -8.00% |
| Morgans | 2.37 | 2.61 | -9.20% | ||
| UBS | 2.30 | 2.50 | -8.00% | ||
| AQG | ALACER GOLD | UBS | 4.25 | 4.00 | 6.25% |
| BBN | BABY BUNTING | Macquarie | 2.65 | 2.25 | 17.78% |
| Morgans | 2.70 | 2.78 | -2.88% | ||
| BHP | BHP | Macquarie | 41.00 | 39.00 | 5.13% |
| BLD | BORAL | UBS | 5.00 | 6.94 | -27.95% |
| DHG | DOMAIN HOLDINGS | Citi | 2.60 | 2.45 | 6.12% |
| Credit Suisse | 2.40 | 2.50 | -4.00% | ||
| Macquarie | 2.60 | 2.50 | 4.00% | ||
| Morgans | 2.31 | 2.52 | -8.33% | ||
| Ord Minnett | 3.25 | 3.50 | -7.14% | ||
| FMG | FORTESCUE | Macquarie | 7.50 | 5.20 | 44.23% |
| GMG | GOODMAN GRP | Macquarie | 13.69 | 13.51 | 1.33% |
| HLS | HEALIUS | Credit Suisse | 2.35 | 2.45 | -4.08% |
| Deutsche Bank | 2.92 | 3.09 | -5.50% | ||
| Macquarie | N/A | 3.10 | -100.00% | ||
| Morgan Stanley | 2.90 | 2.80 | 3.57% | ||
| Morgans | 3.15 | 2.90 | 8.62% | ||
| UBS | N/A | 2.70 | -100.00% | ||
| HSO | HEALTHSCOPE | Ord Minnett | 2.34 | 2.30 | 1.74% |
| IPL | INCITEC PIVOT | Deutsche Bank | 4.70 | 4.80 | -2.08% |
| JIN | JUMBO INTERACTIVE | Morgans | 11.18 | 10.90 | 2.57% |
| LNK | LINK ADMINISTRATION | Citi | 8.20 | 9.05 | -9.39% |
| Deutsche Bank | 6.30 | 7.20 | -12.50% | ||
| Macquarie | 8.40 | 8.70 | -3.45% | ||
| Morgans | 8.27 | 8.42 | -1.78% | ||
| Ord Minnett | 8.00 | 7.70 | 3.90% | ||
| UBS | 8.60 | 8.90 | -3.37% | ||
| MGX | MOUNT GIBSON IRON | Macquarie | 0.78 | 0.67 | 16.42% |
| MPL | MEDIBANK PRIVATE | Citi | 2.85 | 2.70 | 5.56% |
| Deutsche Bank | 3.10 | 3.00 | 3.33% | ||
| Macquarie | 2.80 | 2.65 | 5.66% | ||
| Morgan Stanley | 2.30 | 2.15 | 6.98% | ||
| Morgans | 2.74 | 2.61 | 4.98% | ||
| Ord Minnett | 2.30 | 2.23 | 3.14% | ||
| UBS | 2.40 | 2.30 | 4.35% | ||
| NCM | NEWCREST MINING | Morgans | 22.21 | 21.06 | 5.46% |
| NEW | NEW ENERGY SOLAR | Morgan Stanley | 1.51 | 1.50 | 0.67% |
| ORG | ORIGIN ENERGY | Morgan Stanley | 8.11 | 10.08 | -19.54% |
| PPE | PEOPLE INFRASTRUCTURE | Morgans | 2.63 | 2.15 | 22.33% |
| Ord Minnett | 2.74 | 2.07 | 32.37% | ||
| RIO | RIO TINTO | Macquarie | 106.00 | 98.00 | 8.16% |
| TAH | TABCORP HOLDINGS | Deutsche Bank | 5.50 | 5.35 | 2.80% |
| TCL | TRANSURBAN GROUP | Macquarie | 11.93 | 11.89 | 0.34% |
| TLS | TELSTRA CORP | Morgan Stanley | 2.70 | 2.60 | 3.85% |
| VCX | VICINITY CENTRES | Citi | 2.60 | 2.62 | -0.76% |
| Ord Minnett | 2.80 | 2.90 | -3.45% | ||
| WHC | WHITEHAVEN COAL | Citi | 5.10 | 5.90 | -13.56% |
| Credit Suisse | 5.10 | 5.50 | -7.27% | ||
| Deutsche Bank | 5.20 | 5.50 | -5.45% | ||
| Macquarie | 4.40 | 4.70 | -6.38% | ||
| Morgan Stanley | 5.55 | 6.00 | -7.50% | ||
| Morgans | 5.40 | 5.82 | -7.22% | ||
| Ord Minnett | 5.10 | 5.40 | -5.56% | ||
| UBS | 5.85 | 6.00 | -2.50% |
Summaries
| ABP | ABACUS PROPERTY GROUP | Downgrade to Neutral from Buy - Citi | Overnight Price $3.61 |
| Hold - Ord Minnett | Overnight Price $3.61 | ||
| AMP | AMP | Neutral - Macquarie | Overnight Price $2.15 |
| Hold - Morgans | Overnight Price $2.15 | ||
| Neutral - UBS | Overnight Price $2.15 | ||
| ANN | ANSELL | Buy - Citi | Overnight Price $25.34 |
| AQG | ALACER GOLD | Buy - UBS | Overnight Price $3.59 |
| BBN | BABY BUNTING | Buy - Citi | Overnight Price $2.20 |
| Upgrade to Outperform from Neutral - Macquarie | Overnight Price $2.20 | ||
| Overweight - Morgan Stanley | Overnight Price $2.20 | ||
| Add - Morgans | Overnight Price $2.20 | ||
| BIN | BINGO INDUSTRIES | Outperform - Macquarie | Overnight Price $1.21 |
| BLD | BORAL | Neutral - UBS | Overnight Price $4.85 |
| BXB | BRAMBLES | Buy - Citi | Overnight Price $11.04 |
| DHG | DOMAIN HOLDINGS | Neutral - Citi | Overnight Price $2.54 |
| Neutral - Credit Suisse | Overnight Price $2.54 | ||
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $2.54 | ||
| Overweight - Morgan Stanley | Overnight Price $2.54 | ||
| Hold - Morgans | Overnight Price $2.54 | ||
| Accumulate - Ord Minnett | Overnight Price $2.54 | ||
| Neutral - UBS | Overnight Price $2.54 | ||
| FMG | FORTESCUE | Outperform - Macquarie | Overnight Price $6.38 |
| GMG | GOODMAN GRP | Outperform - Macquarie | Overnight Price $12.92 |
| HLS | HEALIUS | Neutral - Citi | Overnight Price $2.93 |
| Underperform - Credit Suisse | Overnight Price $2.93 | ||
| Hold - Deutsche Bank | Overnight Price $2.93 | ||
| No Rating - Macquarie | Overnight Price $2.93 | ||
| Equal-weight - Morgan Stanley | Overnight Price $2.93 | ||
| Upgrade to Add from Hold - Morgans | Overnight Price $2.93 | ||
| Accumulate - Ord Minnett | Overnight Price $2.93 | ||
| No Rating - UBS | Overnight Price $2.93 | ||
| HSO | HEALTHSCOPE | Hold - Ord Minnett | Overnight Price $2.46 |
| IPL | INCITEC PIVOT | Buy - Deutsche Bank | Overnight Price $3.27 |
| JIN | JUMBO INTERACTIVE | Add - Morgans | Overnight Price $9.92 |
| LNK | LINK ADMINISTRATION | Buy - Citi | Overnight Price $6.92 |
| Outperform - Credit Suisse | Overnight Price $6.92 | ||
| Downgrade to Sell from Hold - Deutsche Bank | Overnight Price $6.92 | ||
| Outperform - Macquarie | Overnight Price $6.92 | ||
| Overweight - Morgan Stanley | Overnight Price $6.92 | ||
| Add - Morgans | Overnight Price $6.92 | ||
| Upgrade to Accumulate from Hold - Ord Minnett | Overnight Price $6.92 | ||
| Buy - UBS | Overnight Price $6.92 | ||
| MPL | MEDIBANK PRIVATE | Neutral - Citi | Overnight Price $2.84 |
| Neutral - Credit Suisse | Overnight Price $2.84 | ||
| Buy - Deutsche Bank | Overnight Price $2.84 | ||
| Neutral - Macquarie | Overnight Price $2.84 | ||
| Underweight - Morgan Stanley | Overnight Price $2.84 | ||
| Hold - Morgans | Overnight Price $2.84 | ||
| Lighten - Ord Minnett | Overnight Price $2.84 | ||
| Sell - UBS | Overnight Price $2.84 | ||
| NCM | NEWCREST MINING | Reduce - Morgans | Overnight Price $25.05 |
| NEW | NEW ENERGY SOLAR | Equal-weight - Morgan Stanley | Overnight Price $1.41 |
| NHF | NIB HOLDINGS | Neutral - Citi | Overnight Price $5.68 |
| Hold - Ord Minnett | Overnight Price $5.68 | ||
| NWL | NETWEALTH GROUP | Neutral - Citi | Overnight Price $7.40 |
| Buy - Ord Minnett | Overnight Price $7.40 | ||
| ORG | ORIGIN ENERGY | Overweight - Morgan Stanley | Overnight Price $7.68 |
| PPE | PEOPLE INFRASTRUCTURE | Add - Morgans | Overnight Price $2.37 |
| Buy - Ord Minnett | Overnight Price $2.37 | ||
| RHC | RAMSAY HEALTH CARE | Neutral - UBS | Overnight Price $59.83 |
| SIQ | SMARTGROUP | Outperform - Macquarie | Overnight Price $8.89 |
| TAH | TABCORP HOLDINGS | Buy - Deutsche Bank | Overnight Price $4.52 |
| TCL | TRANSURBAN GROUP | Neutral - Macquarie | Overnight Price $12.17 |
| TLS | TELSTRA CORP | Underweight - Morgan Stanley | Overnight Price $3.21 |
| VCX | VICINITY CENTRES | Neutral - Citi | Overnight Price $2.53 |
| Outperform - Credit Suisse | Overnight Price $2.53 | ||
| No Rating - Macquarie | Overnight Price $2.53 | ||
| Accumulate - Ord Minnett | Overnight Price $2.53 | ||
| WBC | WESTPAC BANKING | Neutral - Citi | Overnight Price $26.29 |
| WHC | WHITEHAVEN COAL | Buy - Citi | Overnight Price $4.55 |
| Outperform - Credit Suisse | Overnight Price $4.55 | ||
| Buy - Deutsche Bank | Overnight Price $4.55 | ||
| Neutral - Macquarie | Overnight Price $4.55 | ||
| Overweight - Morgan Stanley | Overnight Price $4.55 | ||
| Add - Morgans | Overnight Price $4.55 | ||
| Accumulate - Ord Minnett | Overnight Price $4.55 | ||
| Buy - UBS | Overnight Price $4.55 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 34 |
| 2. Accumulate | 5 |
| 3. Hold | 28 |
| 4. Reduce | 1 |
| 5. Sell | 6 |
Monday 18 February 2019
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The content of this information does in no way reflect the opinions of
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the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe
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base their work on information believed to be reliable and accurate, though
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should contact their personal adviser before making any investment decision.
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