RIDLEY CORPORATION LIMITED (RIC)
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RIC - RIDLEY CORPORATION LIMITED

FNArena Sector : Agriculture
Year End: June
GICS Industry Group : Food, Beverage & Tobacco
Debt/EBITDA: 0.93
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.11

19 Jul
2024

-0.020

OPEN

$2.11

-0.94%

HIGH

$2.12

332,001

LOW

$2.10

TARGET
$2.65 25.6% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AAC . AMN . APC . CBO . CXM . D2O . ELD . GNC . HFR . IPL . LGL . MWY . NAM . NUF . SGLLV . SHV . TFL . WLD .
FNARENA'S MARKET CONSENSUS FORECASTS
RIC: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx 13.2 13.0 xxx
DPS (cps) xxx 8.3 N/A xxx
EPS Growth xxx - 0.3% - 1.8% xxx
DPS Growth xxx 11.5% N/A xxx
PE Ratio xxx N/A 16.2 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx 62.3% N/A xxx

Dividend yield today if purchased 3 years ago: 7.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

3.91

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 03/04 - ex-div 4.4c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx13.2
DPS All xxxxxxxxxxxxxxx8.3
Sales/Revenue xxxxxxxxxxxxxxx1,260.1 M
Book Value Per Share xxxxxxxxxxxxxxx99.9
Net Operating Cash Flow xxxxxxxxxxxxxxx79.1 M
Net Profit Margin xxxxxxxxxxxxxxx3.32 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx13.25 %
Return on Invested Capital xxxxxxxxxxxxxxx10.92 %
Return on Assets xxxxxxxxxxxxxxx6.83 %
Return on Equity xxxxxxxxxxxxxxx13.25 %
Return on Total Capital xxxxxxxxxxxxxxx16.22 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx19.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx4 M
Long Term Debt xxxxxxxxxxxxxxx77 M
Total Debt xxxxxxxxxxxxxxx81 M
Goodwill - Gross xxxxxxxxxxxxxxx70 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx43 M
Price To Book Value xxxxxxxxxxxxxxx2.00

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx34.8 M
Capex % of Sales xxxxxxxxxxxxxxx2.76 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,149 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx49 M
Research & Development xxxxxxxxxxxxxxx10 M
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

1
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

23/05/2024

1

Buy

$2.65

25.59%

UBS downgrades the FY24 EBITDA forecast by -4% to $92m post the weaker trading update from Ridley Corp management.

The broker highlights softness in the poultry market from genetic breeding issues and the impact on protein meals & oils in the rendering division from vegetable/grain based protein competition.

On a positive note, UBS points to a recent improvement in poultry volumes and the OMC acquisition is performing better than expected in April.

Buy rating and the target price is lowered -5% to $2.65.

FORECAST
UBS forecasts a full year FY24 EPS of 13.00 cents.
UBS forecasts a full year FY25 EPS of 15.00 cents.

EXPERT VIEWS
Display All Commentary

No. Of Recommendations

2
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Moelis

16/02/2024

1

Buy

$2.82

33.65%

Lower commodity prices proved a headwind for Ridley Corp in the first half, with the company reporting a lower than expected earnings result from its packaged feeds and ingredients segment of $31.5m, but bulk stockfeeds earnings exceeded expectations at $23.0m.

The latter represents 29% year-on-year growth, and was underpinned by market share gains by Ridley Corp, explains Moelis. According to the broker, the period reflects another strong period of growth for Ridley Corp, driven by continued strategy execution.

The Buy rating is retained and the target price decreases to $2.82 from $2.87.

FORECAST
Moelis forecasts a full year FY24 dividend of 8.40 cents and EPS of 13.40 cents.
Moelis forecasts a full year FY25 dividend of 9.40 cents and EPS of 15.20 cents.

RIC STOCK CHART