SCENTRE GROUP (SCG)
Share Price Analysis and Chart

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SCG - SCENTRE GROUP

FNArena Sector : REITs
Year End: December
GICS Industry Group : Real Estate
Debt/EBITDA: N/A
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Scentre Group was formed in 2014 through the merger of Westfield Retail Trust and Westfield Group's Australian and New Zealand management business. The company owns, manages and develops Westfield shopping centres in Australia and New Zealand.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.31

25 Jul
2024

0.010

OPEN

$3.27

0.30%

HIGH

$3.31

13,165,823

LOW

$3.26

TARGET
$3.34 0.9% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . 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 . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
SCG: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 3.4 21.9 xxx
DPS (cps) xxx 16.6 17.2 xxx
EPS Growth xxx - 41.9% 100.0% xxx
DPS Growth xxx 5.4% 3.3% xxx
PE Ratio xxx N/A 15.3 xxx
Dividend Yield xxx N/A 5.1% xxx
Div Pay Ratio(%) xxx 492.6% 78.3% xxx

Dividend yield today if purchased 3 years ago: 6.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.94

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: 15/02 - ex-div 8.35c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx3.4
DPS All xxxxxxxxxxxxxxx16.6
Sales/Revenue xxxxxxxxxxxxxxx2,510.3 M
Book Value Per Share xxxxxxxxxxxxxxx344.1
Net Operating Cash Flow xxxxxxxxxxxxxxx1,034.8 M
Net Profit Margin xxxxxxxxxxxxxxx6.97 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx0.96 %
Return on Invested Capital xxxxxxxxxxxxxxx0.55 %
Return on Assets xxxxxxxxxxxxxxx0.48 %
Return on Equity xxxxxxxxxxxxxxx0.96 %
Return on Total Capital xxxxxxxxxxxxxxx4.69 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx149.9 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 xxxxxxxxxxxxxxx1,845 M
Long Term Debt xxxxxxxxxxxxxxx13,866 M
Total Debt xxxxxxxxxxxxxxx15,711 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx296 M
Price To Book Value xxxxxxxxxxxxxxx0.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx29.5 M
Capex % of Sales xxxxxxxxxxxxxxx1.18 %
Cost of Goods Sold xxxxxxxxxxxxxxx755 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx152 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx32,117 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

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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UBS

05/07/2024

5

Downgrade to Sell from Neutral

$2.96

-10.57%

Through a broad sector update on A-REITs, UBS analysts argue the sector is now less likely to find support from RBA rate cuts (as many REITs are growth challenged and funds management benefits are harder to achieve) and valuations for the winners in the sector are seen as "stretched" in the here and now.

Developers are faced with tougher conditions, with asset sales on the menu (and a must for some). Performance fees for fund managers will be much harder to achieve.

UBS has reduced forecasts across the board, placing the broker's numbers below consensus in most cases.

Believing investors are pricing in too much growth in the short term, UBS has downgraded Scentre Group to Sell from Neutral. Price target is now $2.96, down from $2.98 previously.

FORECAST
UBS forecasts a full year FY24 dividend of 17.00 cents and EPS of 22.00 cents.
UBS forecasts a full year FY25 dividend of 18.00 cents and EPS of 22.00 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$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

Jarden

21/06/2024

2

Downgrade to Overweight from Buy

$3.65

10.27%

Within Jarden's coverage of the Australian REIT sector, weighted-average funds from operations (FFO) growth forecasts are starting to improve for FY25 and FY26 to 3.6% and 7.9%, respectively, from -2.2% in FY24.

The broker believes downside risk to asset values is well reflected in current valuations, and REITs are increasingly moving to offence from defence.

Excluding Goodman Group (which remains the best quality stock in the sector), the analysts see around 18% upside to 12-month target prices.

The target for Scentre Group is increased to $3.65 from $3.60 and the rating downgraded to Overweight from Buy. Jarden continues to like the mall sector and believes this REIT is well positioned despite a strong share price performance over the last six months.
Access Stockbroker Research History >

SCG STOCK CHART

FNArena News on SCG

1
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Jul 18 2024 - Rudi's View
2
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Latest REITs News

1
Australian Listed Real Estate Tables – 22-07-2024

Jul 22 2024 - Weekly Reports
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3
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Jul 15 2024 - Weekly Reports
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Jun 24 2024 - Weekly Reports
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Jun 17 2024 - Weekly Reports
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Jun 03 2024 - Weekly Reports
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May 27 2024 - Weekly Reports
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May 20 2024 - Weekly Reports