NEW HOPE CORPORATION LIMITED (NHC)
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NHC - NEW HOPE CORPORATION LIMITED

FNArena Sector : Coal
Year End: July
GICS Industry Group : Energy
Debt/EBITDA: 0.42
Index: ASX200 | ASX300 | ALL-ORDS

New Hope is an Australian diversified energy group. Its operations include coal mining, oil and gas exploration, agriculture, port operation, innovative technologies and investment. Founded in 1952 it became a listed company in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.87

22 Nov
2024

0.130

OPEN

$4.82

2.74%

HIGH

$4.91

2,320,611

LOW

$4.78

TARGET
$4.75 -2.5% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ATU . BCB . BRL . CRN . MMI . SMR . TER . WHC . YAL .
FNARENA'S MARKET CONSENSUS FORECASTS
NHC: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 56.3 61.7 xxx
DPS (cps) xxx 39.0 36.5 xxx
EPS Growth xxx - 55.3% 9.5% xxx
DPS Growth xxx - 44.3% - 6.4% xxx
PE Ratio xxx N/A 7.9 xxx
Dividend Yield xxx N/A 7.5% xxx
Div Pay Ratio(%) xxx 69.3% 59.2% xxx

Dividend yield today if purchased 3 years ago: 18.57%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 8.01

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: 03/10 - ex-div 22c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx56.3
DPS All xxxxxxxxxxxxxxx39.0
Sales/Revenue xxxxxxxxxxxxxxx1,765.3 M
Book Value Per Share xxxxxxxxxxxxxxx300.8
Net Operating Cash Flow xxxxxxxxxxxxxxx562.0 M
Net Profit Margin xxxxxxxxxxxxxxx26.96 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx18.79 %
Return on Invested Capital xxxxxxxxxxxxxxx18.19 %
Return on Assets xxxxxxxxxxxxxxx14.18 %
Return on Equity xxxxxxxxxxxxxxx18.79 %
Return on Total Capital xxxxxxxxxxxxxxx24.77 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-97.4 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx268 M
Long Term Debt xxxxxxxxxxxxxxx93 M
Total Debt xxxxxxxxxxxxxxx361 M
Goodwill - Gross xxxxxxxxxxxxxxx6 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx825 M
Price To Book Value xxxxxxxxxxxxxxx1.62

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx272.3 M
Capex % of Sales xxxxxxxxxxxxxxx15.43 %
Cost of Goods Sold xxxxxxxxxxxxxxx916 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx167 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx293 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

0.3

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

18/09/2024

1

Upgrade to Add from Hold

$5.20

6.78%

New Hope reported a "solid" FY24 result with no surprises according to Morgans.

The company ended FY24 with net cash of $566m or over 15% of its market capitalisation, which was better than the broker's forecasts. The final 22c dividend was 1c above the analyst's estimate.

Management's FY24 guidance infers higher volumes at Acland with higher costs. Bengalla production/costs outlook appears to meet the broker's expectations.

Morgans assesses New Hope has outperformed its met coal peers because of its low-cost structure. The stock is believed to be "genuinely" cheap and is upgraded to Buy from Hold. 

Target price falls to $5.20 from $5.45.

FORECAST
Morgans forecasts a full year FY25 dividend of 34.00 cents and EPS of 48.00 cents.
Morgans forecasts a full year FY26 dividend of 29.00 cents and EPS of 48.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

19/09/2024

5

Sell

$3.80

-21.97%

New Hope reported FY24 net profit of $476m which was generally in line with Goldman Sachs' expectations. A 22cps dividend came in higher than the analyst's forecast of 17.8cps, reflecting an 80% payout ratio.

The broker notes Bengalla's performance met expectations as did New Acland.

Management updated five year and longer-term production guidance. The broker points to higher volumes and a faster than anticipated ramp up of New Acland and Maxwell mines.

The company listed the Bridgeport oil and gas assets for sale at $101m and finished the year with net cash of $430m.

Sell rating with a $3.80 target price unchanged.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 31.00 cents and EPS of 52.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 23.00 cents and EPS of 39.00 cents.
Access Extra Coverage Research History >

NHC STOCK CHART

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Apr 03 2024 - ESG Focus
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Mar 20 2024 - Australia
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10
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