PEOPLEIN LIMITED (PPE)
Share Price Analysis and Chart

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01/09/2026

1

Buy

$1.07

82.91%

PeopleIN reported underlying EBITDA of $18.4m, ahead of Ord Minnett's expectations. The business has a favourable exposure to infrastructure projects within the engineering and trade segment.

Contributions from the Infrawork acquisition in New Zealand were higher than expected and the broker expects outperformance in this area will offset lower short-term demand for PALM scheme workers in the RWM brand.

Ord Minnett assesses the business can now generate a more consistent rate of earnings growth, with upside risk to margins, and maintains a Buy rating on valuation grounds. Target rises to $1.07 from $1.03.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 2.00 cents and EPS of 8.30 cents.
Ord Minnett forecasts a full year FY28 dividend of 3.00 cents and EPS of 9.30 cents.

02/09/2026

1

Buy

$1.00

70.94%

Canaccord Genuity maintains a Buy rating for PeopleIN with a $1.00 target price following an FY26 result featuring an underlying EBITDA of $19.0m.

The earnings figure beat Canaccord Genuity's estimate by 6%, supported by a 74.8% surge in the ETL segment which offset a -4.3% decline in group revenue to $788.7m.

A statutory NPAT loss of -$9.96m was recorded as the Food and Agriculture division experienced an -18.3% drop in EBITDA amid lower candidate numbers and drought conditions.

The analyst views the business as well-positioned to capitalise on a $119bn Queensland state infrastructure pipeline and expects the challenged agricultural segment to stabilise by the second half of FY27 as new workers arrive.

Revisions include lowered FY27 revenue expectations, though underlying earnings per share forecasts remain broadly unchanged as the stock continues to trade on a compelling 6.5x forward price-to-earnings multiple.