REJECT SHOP LIMITED (TRS)
Share Price Analysis and Chart

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TRS - REJECT SHOP LIMITED

FNArena Sector : Household & Personal Products
Year End: June
GICS Industry Group : Retailing
Debt/EBITDA: 1.83
Index: ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.40

25 Jul
2024

0.080

OPEN

$3.36

2.41%

HIGH

$3.40

21,989

LOW

$3.31

TARGET
$4.183 23.0% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABY . AOV . BRG . DSK . MYR . SSG .
FNARENA'S MARKET CONSENSUS FORECASTS
TRS: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 27.2 13.6 xxx
DPS (cps) xxx 16.0 9.7 xxx
EPS Growth xxx 31.7% - 49.8% xxx
DPS Growth xxx N/A - 39.4% xxx
PE Ratio xxx N/A 24.2 xxx
Dividend Yield xxx N/A 2.9% xxx
Div Pay Ratio(%) xxx 58.9% 71.1% xxx

Dividend yield today if purchased 3 years ago: 3.08%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.85

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: 18/04 - ex-div 10c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx27.2
DPS All xxxxxxxxxxxxxxx16.0
Sales/Revenue xxxxxxxxxxxxxxx819.3 M
Book Value Per Share xxxxxxxxxxxxxxx481.6
Net Operating Cash Flow xxxxxxxxxxxxxxx111.0 M
Net Profit Margin xxxxxxxxxxxxxxx1.26 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx5.75 %
Return on Invested Capital xxxxxxxxxxxxxxx3.21 %
Return on Assets xxxxxxxxxxxxxxx2.09 %
Return on Equity xxxxxxxxxxxxxxx5.75 %
Return on Total Capital xxxxxxxxxxxxxxx4.50 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx98.9 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 xxxxxxxxxxxxxxx84 M
Long Term Debt xxxxxxxxxxxxxxx144 M
Total Debt xxxxxxxxxxxxxxx228 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx77 M
Price To Book Value xxxxxxxxxxxxxxx0.94

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx12.1 M
Capex % of Sales xxxxxxxxxxxxxxx1.48 %
Cost of Goods Sold xxxxxxxxxxxxxxx595 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx206 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

0.7

No. Of Recommendations

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

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

29/05/2024

3

Equal-weight

$3.70

8.82%

Following a trading update, Morgan Stanley lowers its target for Reject Shop to $3.70 from $4.75 as gross margin pressure and cost-of-doing-business (CODB) weigh, despite ongoing improvement for customer count and units per basket.

FY24 EBIT guidance of $4.0-5.5m (pre AASB-16) compares to $13.3m in the previous corresponding period.

Sales growth has moderated to 4.1% in the 2H so far, after tracking at 4.8% at the start of the 2H, explains the broker.

All up, there is negative earnings momentum and clear pressures in terms of mix, shrinkage and cost inflation, and the broker feels inflationary pressures will be hard to offset.

The Equal-weight rating is maintained. Industry view is In-Line.

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 7.10 cents and EPS of 14.00 cents.
Morgan Stanley forecasts a full year FY25 dividend of 11.00 cents and EPS of 22.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial
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

Jarden

11/06/2024

2

Downgrade to Overweight from Buy

$5.80

70.59%

Jarden downgrades its rating for Reject Shop to Overweight from Buy, the broker observing a recovery from supermarkets to volume growth and expansion of private label and everyday essentials as inflation moderates.

This means discounters will have their work cut out to remain competitive, especially given intensifying online trade from retailers such as Temu.

Jarden expects sales will grow slower than previously forecast but the outlook is still rosy, the broker forecasting a three-year compound annual growth rate of 34%.

The broker says the company now has to propel the flywheel to boost purchase frequency. Target price falls to $5.80 from $6.

FORECAST
Jarden forecasts a full year FY24 EPS of 12.30 cents.
Jarden forecasts a full year FY25 EPS of 29.30 cents.
Access Stockbroker Research History >

TRS STOCK CHART

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