PERENTI LIMITED (PRN)
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PRN - PERENTI LIMITED

FNArena Sector : Mining Sector Contracting
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 1.49
Index: ASX300 | ALL-ORDS

Perenti Group is a multi-national mining services company with operations in surface mining, underground mining and mining support services in several countries. The group was founded in 1987 in Kalgoorlie and listed on the ASX in 1994. Prior ASX-listing was as Barminco.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.415

19 Dec
2024

0.055

OPEN

$1.35

4.04%

HIGH

$1.42

6,223,065

LOW

$1.33

TARGET
$1.44 1.8% upside
Franking for last dividend paid out: 6%
OTHER COMPANIES IN THE SAME SECTOR
ALQ . ANG . ARI . C79 . CDA . CDD . DOW . EHL . GNG . IMD . IPG . IPL . LBL . LYL . MAD . MAH . MIN . MLG . MND . MSV . MYE . NWH . ORI . RAN . RCR . RDG . RUL . SGH . SRG . SXE . XRF .
FNARENA'S MARKET CONSENSUS FORECASTS
PRN: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.9 20.1 xxx
DPS (cps) xxx 6.0 6.9 xxx
EPS Growth xxx - 21.8% 84.9% xxx
DPS Growth xxx 100.0% 14.4% xxx
PE Ratio xxx N/A 6.9 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 55.3% 34.2% xxx

Dividend yield today if purchased 3 years ago: 7.23%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.32

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: 08/10 - ex-div 4c (franking 6%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx10.9
DPS All xxxxxxxxxxxxxxx6.0
Sales/Revenue xxxxxxxxxxxxxxx3,342.0 M
Book Value Per Share xxxxxxxxxxxxxxx188.7
Net Operating Cash Flow xxxxxxxxxxxxxxx487.8 M
Net Profit Margin xxxxxxxxxxxxxxx2.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx6.03 %
Return on Invested Capital xxxxxxxxxxxxxxx3.92 %
Return on Assets xxxxxxxxxxxxxxx3.02 %
Return on Equity xxxxxxxxxxxxxxx6.03 %
Return on Total Capital xxxxxxxxxxxxxxx9.85 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx133.5 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 xxxxxxxxxxxxxxx17 M
Long Term Debt xxxxxxxxxxxxxxx911 M
Total Debt xxxxxxxxxxxxxxx929 M
Goodwill - Gross xxxxxxxxxxxxxxx457 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx459 M
Price To Book Value xxxxxxxxxxxxxxx0.53

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx335.2 M
Capex % of Sales xxxxxxxxxxxxxxx10.03 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,746 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx353 M
Research & Development xxxxxxxxxxxxxxx-
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

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Bell Potter

xx/xx/xxxx

1

xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Citi

21/08/2024

1

Buy

$1.15

-18.73%

Citi derives comfort from the free cash flow and leverage revealed by Perenti in the FY24 results, which came despite the headwinds from drilling services.

The broker suggests the decision to declare a dividend in the second half at a higher payout is an indication of the improving outlook.

Forecasts are trimmed primarily because of a lower contribution from the underground business and the inclusion of ongoing idoba costs. Target is lowered to $1.15 from $1.30 and the Buy rating is maintained.

FORECAST
Citi forecasts a full year FY25 dividend of 9.20 cents and EPS of 15.30 cents.
Citi forecasts a full year FY26 dividend of 9.50 cents and EPS of 15.80 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Canaccord Genuity

01/08/2024

1

Buy

$1.28

-9.54%

Canaccord Genuity observes Perenti has secured multiple contract extensions and wins, which suggest strong cash flow performance, particularly in 2H24, with free cash flow expected to be around $188m.

The broker anticipates the company's largest contract, Khoemacau Zone 5, which has been extended for 12 months will support margins through FY25.

Notably, the analyst views the significant cash conversion, over 95% and capex savings, a reduction to $305m for FY24 as positive for Perenti.

Canaccord Genuity adjusts the EPS forecasts by 3% increase in FY24 and 8% in FY25.

The Buy rating unchanged and the target price raised to $1.28 from $1.25.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 4.00 cents and EPS of 17.40 cents.
Access Extra Coverage Research History >

PRN STOCK CHART

FNArena News on PRN

1
Next Week At A Glance -16-20 Dec 2024

Dec 13 2024 - Weekly Reports
2
Australian Broker Call *Extra* Edition – Aug 22, 2024

Aug 22 2024 - Daily Market Reports
3
FNArena Corporate Results Monitor – 20-08-2024

Aug 20 2024 - Australia
4
Australian Broker Call *Extra* Edition – Aug 01, 2024

Aug 01 2024 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jul 29, 2024

Jul 29 2024 - Daily Market Reports

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