COAST ENTERTAINMENT HOLDINGS LIMITED (CEH)
Share Price Analysis and Chart

27/08/2025

1

Buy

$0.70

48.94%

Coast Entertainment announced FY25 growth in underlying operating earnings (EBITDA) of 19%, which met Ord Minnett's expectations.

Both the revenue and attraction numbers had been pre-released in the July update.

The FY26 trading update for the first month was very "pleasing," the analyst notes. Revenue, admissions, and earnings (EBITDA) are up 16%, 38%, and 48%, respectively.

Improved cost controls should boost margins to 17% in FY26 versus 9% in FY25.

Higher D&A assumptions by Ord Minnett result in a downgrade to its EPS forecasts by -26.6% for FY26 and -5.1% for FY27.

Buy rating retained. Target raised to 70c from 65c.

12/11/2025

1

Buy

$0.64

36.17%

Coast Entertainment's year-to-date trading update showed strong operating leverage, according to Canaccord Genuity, with earnings (EBITDA) up 94% on 20% higher revenue, both ahead of the broker's expectations.

Ticket sales rose 54%, visitation 35%, and in-park spend 25%, reflecting healthy demand and effective promotional campaigns, the report suggests.

The broker notes favourable weather supported results, while new attractions, events, and hospitality initiatives continue to enhance performance. SkyPoint achieved record levels, and the King Claw ride remains on track for a December 2025 opening.

FY26 will mark a step-change in earnings, according to Canaccord, with an around $8m incremental EBITDA forecast. The broker retains a Buy rating and 64c target.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -1.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.