ABACUS GROUP (ABG)
Share Price Analysis and Chart

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ABG - ABACUS GROUP

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: -4.6
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.14

30 Dec
2024

-0.050

OPEN

$1.17

-4.20%

HIGH

$1.17

331,916

LOW

$1.14

TARGET
$1.263 10.7% upside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ABG: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx - 27.0 8.6 xxx
DPS (cps) xxx 8.5 8.5 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 53.8% 0.0% xxx
PE Ratio xxx N/A 13.3 xxx
Dividend Yield xxx N/A 7.5% xxx
Div Pay Ratio(%) xxx N/A 98.8% xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 7.14

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: 28/12 - ex-div 26.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-27.0
DPS All xxxxxxxxxxxxxxx8.5
Sales/Revenue xxxxxxxxxxxxxxx168.5 M
Book Value Per Share xxxxxxxxxxxxxxx179.8
Net Operating Cash Flow xxxxxxxxxxxxxxx76.0 M
Net Profit Margin xxxxxxxxxxxxxxx-143.61 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-9.74 %
Return on Invested Capital xxxxxxxxxxxxxxx-7.00 %
Return on Assets xxxxxxxxxxxxxxx-5.88 %
Return on Equity xxxxxxxxxxxxxxx-9.74 %
Return on Total Capital xxxxxxxxxxxxxxx-6.02 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-10.3 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 xxxxxxxxxxxxxxx0 M
Long Term Debt xxxxxxxxxxxxxxx939 M
Total Debt xxxxxxxxxxxxxxx939 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx24 M
Price To Book Value xxxxxxxxxxxxxxx0.64

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx16.1 M
Capex % of Sales xxxxxxxxxxxxxxx9.54 %
Cost of Goods Sold xxxxxxxxxxxxxxx48 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx329 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,834 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

0.6

No. Of Recommendations

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

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Shaw and Partners

26/08/2024

1

Buy

$1.20

5.26%

Abacus Group's FY24 result met Shaw and Partners' forecasts, the broker observing the company maintained its FY25 distribution guidance at 8.5c at a time when other A-REITs are cutting.

Add to that an estimated 50% franking and the broker appreciates the company's 7.6% partially franked yield.

Management advised it was receiving more enquiries for space, which boosted its confidence in its FY25 guidance.

On the asset front, the company bought an extra 17% of Myer Melbourne's CBD property for- $72m at a -10% discount to its FY23 valuation, observes Shaw and Partners.

Abacus Group also divested two properties with another sale under way, which the broker estimates should send gearing to just below 30% from 32% to 33% now.

The broker expects flat capital expenditure in FY25 before declining in FY26.

Buy rating retained, the company trading at a -35% discount to net tangible assets of $1.76. Target price is steady at $1.20.

FORECAST
Shaw and Partners forecasts a full year FY25 dividend of 8.50 cents and EPS of 7.20 cents.
Shaw and Partners forecasts a full year FY26 dividend of 9.00 cents and EPS of 8.00 cents.

Macquarie

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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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

Moelis

28/08/2024

1

Buy

$1.45

27.19%

Abacus Group reported higher than forecast earnings in FY24, comments Moelis, with improved leasing boosting office occupancy to 93.4%, up from 92.6% in February.

The group's retail assets continued to perform well. Like-for-like sales advanced 6.3%, from around 3.8% in FY23.

Some $30.6m in income was generated including distribution, management and development fees from the 19.8% stake in Abacus Storage King ((ASK)), the broker observes.

Buy rated. Target price $1.45.

FORECAST
Moelis forecasts a full year FY25 dividend of 8.50 cents and EPS of 9.30 cents.
Moelis forecasts a full year FY26 dividend of 8.60 cents and EPS of 9.30 cents.
Access Extra Coverage Research History >

ABG STOCK CHART

FNArena News on ABG

1
Rudi’s View: Key Picks, Best Buys & Conviction Calls

Sep 12 2024 - Rudi's View
2
Australian Broker Call *Extra* Edition – Aug 28, 2024

Aug 28 2024 - Daily Market Reports
3
FNArena Corporate Results Monitor – 26-08-2024

Aug 26 2024 - Australia
4
Weekly Ratings, Targets, Forecast Changes – 26-07-24

Jul 29 2024 - Weekly Reports
5
Rudi’s View: Selective Opportunities Among Discounted REITs

Mar 20 2024 - Rudi's View

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