EUREKA GROUP HOLDINGS LIMITED (EGH)
Share Price Analysis and Chart

28/08/2026

1

Buy

$0.85

30.77%

Eureka Group's FY26 result was a small beat versus Morgans' expectations, with underlying earnings above the top of guidance, having grown 10% year on year. 

FY27 guidance for earnings growth of at least 13% came in above the broker's prior forecasts, reflecting both the cadence of acquisitions and the rollout of additional dwellings.

The Eureka investment case rests on a structural shortage of affordable rental accommodation, resilient government-backed cashflows, and scaling growth engines funded by an accretive acquisition and prefabricated dwelling development pipeline, Morgans notes.

Buy and 85c target retained.

FORECAST
Morgans forecasts a full year FY27 dividend of 1.60 cents and EPS of 3.90 cents.
Morgans forecasts a full year FY28 dividend of 1.70 cents and EPS of 4.40 cents.

24/08/2026

1

Buy

$0.75

15.38%

Moelis maintains its Buy recommendation for Eureka Group with its target price increased to $0.75 from $0.69 following an FY26 underlying earnings per share growth result of 10%, with over 13% growth guided in FY27 driven by new acquisitions and profits on divestments at material premiums to book value.

Since raising $70m in equity in October 2024, the company has deployed approximately $160m into new all-age acquisitions and now holds a development pipeline of 829 sites with total potential development costs exceeding $100m.

Management expects 150 of these development units to be delivered in FY27, with developments proving accretive to earnings over time.

Gearing has increased to over 35% when including contracted acquisitions, prompting the group to fund the pipeline in part through ongoing divestments of legacy assets and its funds management platform.

The broker's estimates and analyst outlook highlight that the stock trades in line with net tangible assets plus deferred tax liabilities, presenting an attractive entry point given the direct market valuation premiums and medium-term growth prospects.

FORECAST
Moelis forecasts a full year FY27 dividend of 1.60 cents and EPS of 4.00 cents.
Moelis forecasts a full year FY28 dividend of 1.60 cents and EPS of 4.40 cents.