##{"id":100402,"date":"2022-03-22T10:01:41","date_gmt":"2022-03-21T23:01:41","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=100402"},"modified":"2022-03-22T10:01:45","modified_gmt":"2022-03-21T23:01:45","slug":"australian-broker-call-extra-edition-mar-22-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/03\/22\/australian-broker-call-extra-edition-mar-22-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Mar 22, 2022"},"content":{"rendered":"

An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.<\/strong><\/p>\n

In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.<\/p>\n

One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.<\/p>\n

Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.<\/p>\n

Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.<\/p>\n

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.<\/p>\n

The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.<\/p>\n

COMPANIES DISCUSSED IN THIS ISSUE<\/strong><\/p>\n

Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\n

360<\/a> ABB<\/a> ABP (2)<\/a> AMC<\/a> CYG<\/a> EOS<\/a> FSF<\/a> IMU<\/a> JHX<\/a> MFG<\/a> RDY<\/a> SLA<\/a> SUN<\/a> <\/p>\n

360<\/a>    LIFE360, INC<\/h2>\n
Software & Services – Overnight Price: $5.62 <\/strong><\/p>\n
Bell Potter rates ((360)) as Buy (1) –<\/p>\n
Bell Potter forecasts strong interim growth in Life360's core business will continue into the March quarter, expecting annualised monthly revenue of 50% in the quarter, and forecasts 28% revenue growth in FY23 (still loss-making) before moving to profit in FY24.<\/p>\n
Buy rating and $10 target price retained.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $10.00<\/strong> Current Price is $5.62 <\/strong> Difference: $4.38<\/strong>
If 360<\/strong> meets the Bell Potter target it will return approximately 78%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 34.46<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.31<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 14.06<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 39.98<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ABB<\/a>    AUSSIE BROADBAND LIMITED<\/h2>\n
Telecommunication – Overnight Price: $5.37 <\/strong><\/p>\n
Shaw and Partners rates ((ABB)) as Buy (1) –<\/p>\n
Shaw and Partners believes Origin Broadband ((ORG)) should buy Aussie Broadband, believing it the easiest path to attain the company's recently announced ambition to reach 600,000 broadband subs by FY26.<\/p>\n
Origin's strategy update also signalled capital management initiatives including a share buyback and potential strategic acquisitions and Shaw believes the purchase of Aussie Broadband will be 5% accretive and also offer cross-sell to gas and electricity deals, yielding a $50m (50%) increase in gross profit, which would further engage customers and potentially drive accretion to more than 8%.<\/p>\n
The broker says Aussie Broadband should benefit materially from Origin's strategic plans regardless given it is Origin's broadband provider, and expects strong consensus upgrades should Origin increase connections to Aussie Broadband.<\/p>\n
Meanwhile, the acquisition of Over The Wire was completed last week, which shows the Aussie Broadband diversifying margin from NBN to the business market and the broker estimates it will yield 35% EPS accretion to FY23 and notes the company has just entered the ASX300. <\/p>\n
Buy rating retained and $6.46 target price retained.<\/p>\n
This report was published on March 18, 2022.<\/p>\n
Target price is $6.46<\/strong> Current Price is $5.37 <\/strong> Difference: $1.09<\/strong>
If ABB<\/strong> meets the Shaw and Partners target it will return approximately 20%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 6.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 81.36<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 3.10<\/strong> cents and EPS of 15.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 0.58%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.42<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ABP<\/a>    ABACUS PROPERTY GROUP<\/h2>\n
REITs – Overnight Price: $3.33 <\/strong><\/p>\n
Jarden rates ((ABP)) as Overweight (2) –<\/p>\n
Jarden believes Abacus Property has its timing all wrong on the announced $200m equity raise, making accretion from acquisitions more difficult.<\/p>\n
Nonetheless, the analyst concedes management has a good track record for deploying capital and there's currently strong momentum in Storage.<\/p>\n
The raise along with a $15m security purchase plan aims to lower pro forma gearing to 30.9% and create $320m for future growth opportunities. The Outperform rating is maintained and the target set at $4.10.<\/p>\n
This report was published on March 18, 2022.<\/p>\n
Target price is $4.10<\/strong> Current Price is $3.33 <\/strong> Difference: $0.77<\/strong>
If ABP<\/strong> meets the Jarden target it will return approximately 23%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.65<\/strong>, suggesting upside of 9.5%<\/strong>(ex-dividends)<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 18.1<\/strong>, implying annual growth of -63.7%<\/strong>.
Current consensus DPS estimate is 18.0<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 18.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 19.0<\/strong>, implying annual growth of 5.0%<\/strong>.
Current consensus DPS estimate is 18.1<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.5<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Moelis rates ((ABP)) as Buy (1) –<\/p>\n
Abacus Property Group has raised $215m through a $200m placement at $3.38 a share, and a special purchase plan, to fund the company's storage development pipeline<\/p>\n
Moelis notes the raising was struck at a -9.4% discount to net tangible assets, and is 5% dilutive; and the balance sheet gearing now falls to 31% prior deployment (which should prove an initial drag prior to delivering attractive returns in the longer term).<\/p>\n
The broker appreciates the high quality storage portfolio and development pipeline.<\/p>\n
Buy rating retained. Target price is $3.70.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $3.70<\/strong> Current Price is $3.33 <\/strong> Difference: $0.37<\/strong>
If ABP<\/strong> meets the Moelis target it will return approximately 11%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.65<\/strong>, suggesting upside of 9.5%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY22<\/strong> dividend of 18.00<\/strong> cents and EPS of 19.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.41%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.90<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 18.1<\/strong>, implying annual growth of -63.7%<\/strong>.
Current consensus DPS estimate is 18.0<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 18.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 18.50<\/strong> cents and EPS of 19.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.56%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.08<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.0<\/strong>, implying annual growth of 5.0%<\/strong>.
Current consensus DPS estimate is 18.1<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.5<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
AMC<\/a>    AMCOR PLC<\/h2>\n
Paper & Packaging – Overnight Price: $15.50 <\/strong><\/p>\n
Jarden rates ((AMC)) as Buy (1) –<\/p>\n
Jarden feels a buying opportunity has been presented by current weakness in Amcor's shares, especially when the current discount to listed peers in the US is taken into account.<\/p>\n
Trends for at-home consumption could result in stronger top-line growth and earnings (EBITDA) margin expansion than consensus expectations, according to the analyst. <\/p>\n
The broker retains its $18.05 target and Buy rating.<\/p>\n
This report was published on March 18, 2022.<\/p>\n
Target price is $18.05<\/strong> Current Price is $15.50 <\/strong> Difference: $2.55<\/strong>
If AMC<\/strong> meets the Jarden target it will return approximately 16%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $18.07<\/strong>, suggesting upside of 16.5%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 65.41<\/strong> cents and EPS of 108.26<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.22%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.32<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 108.4<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 65.8<\/strong>, implying a prospective dividend yield of 4.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.3<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 70.15<\/strong> cents and EPS of 115.83<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.53%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.38<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 113.5<\/strong>, implying annual growth of 4.7%<\/strong>.
Current consensus DPS estimate is 67.6<\/strong>, implying a prospective dividend yield of 4.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 13.7<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CYG<\/a>    COVENTRY GROUP LIMITED<\/h2>\n
Hardware & Equipment – Overnight Price: $1.48 <\/strong><\/p>\n
Bell Potter rates ((CYG)) as Buy (1) –<\/p>\n
Coventry Group has announced two cash acquisitions: Goudie Holdings (for $8.5m with a $0.5m earn-out) and NZ Plank Hire ($2.8m), both within the Trade Distribution division.<\/p>\n
Bell Potter considers the acquisitions to be highly complimentary.<\/p>\n
Earnings (EBITDA) forecasts rise 3.3%, 8.7% and 7.6% across FY22 to FY24.<\/p>\n
Buy rating and $2 target price retained.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $2.00<\/strong> Current Price is $1.48 <\/strong> Difference: $0.52<\/strong>
If CYG<\/strong> meets the Bell Potter target it will return approximately 35%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 3.60<\/strong> cents and EPS of 7.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.43%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.47<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 3.40<\/strong> cents and EPS of 8.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.30%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.50<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
EOS<\/a>    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED<\/h2>\n
Hardware & Equipment – Overnight Price: $2.98 <\/strong><\/p>\n
Canaccord Genuity rates ((EOS)) as Buy (1) –<\/p>\n
Electro Optic Systems Holdings is conducting a strategic review of its capital structure having determined its cash cannot keep pace with growth opportunities. <\/p>\n
Cannacord Genuity expects the company is probably seeking accretive funding for its SpaceLink venture and spies several options for the capital-heavy project, including securing a strategic investor, a full sale of Electro Optic Systems, divestments, rights issue or spin-out of SpaceLink.<\/p>\n
Speculative Buy rating and $3.50 target price retained.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $3.50<\/strong> Current Price is $2.98 <\/strong> Difference: $0.52<\/strong>
If EOS<\/strong> meets the Canaccord Genuity target it will return approximately 17%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 10.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 29.80<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 6.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 49.67<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
FSF<\/a>    FONTERRA SHAREHOLDERS FUND<\/h2>\n
Dairy – Overnight Price: $3.30 <\/strong><\/p>\n
Jarden rates ((FSF)) as Neutral (3) –<\/p>\n
Jarden has described a solid first half result from Fonterra Shareholders Fund amid challenging conditions. Despite year-on-year declines in food service margins, first half earnings per share reached 22 cents and full year guidance of 25-35 cents per share was reaffirmed.<\/p>\n
Looking ahead, the broker was surprised by planned capital expenditure in the company's future strategy but noted divestment proceeds had been earmarked to support capital return.<\/p>\n
The Neutral rating is retained and the target price decreases to NZ$4.00 from NZ$4.17. <\/p>\n
This report was published on March 17, 2022.<\/p>\n
Current Price is $3.30<\/strong>. Target price not assessed.
The company's fiscal year ends in July.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 18.84<\/strong> cents and EPS of 30.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.71%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.68<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 21.67<\/strong> cents and EPS of 34.77<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.57%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.49<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in NZD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
IMU<\/a>    IMUGENE LIMITED<\/h2>\n
Pharmaceuticals & Biotech\/Lifesciences – Overnight Price: $0.27 <\/strong><\/p>\n
Bell Potter rates ((IMU)) as Buy (1) –<\/p>\n
Imugene has announced a clinical trial collaboration and supply agreement with Merck to evaluate the safety and efficacy of Imugene's HER-Vaxx when combined with pembrolizumabe or chemotherapy in patients with HER-2 positive gastric cancer.<\/p>\n
Bell Potter says the study may contribute to the company's NextHERizon signal-seeking study, which is seeking initial approval in 2nd-line therapy for inoperable gastric cancer. <\/p>\n
The broker lowers the target price -13% to 45c from 52c after making adjustments to long-dated revenue projections arising from partnering. Speculative Buy rating retained.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $0.45<\/strong> Current Price is $0.27 <\/strong> Difference: $0.18<\/strong>
If IMU<\/strong> meets the Bell Potter target it will return approximately 67%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 0.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 45.00<\/strong>.<\/p>\n<\/blockquote>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
JHX<\/a>    JAMES HARDIE INDUSTRIES PLC<\/h2>\n
Building Products & Services – Overnight Price: $46.08 <\/strong><\/p>\n
Jarden rates ((JHX)) as Overweight (2) –<\/p>\n
Jarden tinkers with James Hardie Industries earnings after meeting with management for an update. <\/p>\n
James Hardie's European division has experienced softness due to the Ukraine conflict but the North American fibre cement business remains strong and the company says rising bankruptcies for Australia builders has not hit receivables and that the order pipeline remains strong.<\/p>\n
The company is raising prices to reflect cost inflation. The broker forecasts an EPS compound annual growth rate of 15.2% across FY2022-25.<\/p>\n
Overweight rating retained and target price edges up to $54.80 from $54.70.<\/p>\n
This report was published on March 16, 2022.<\/p>\n
Target price is $54.80<\/strong> Current Price is $46.08 <\/strong> Difference: $8.72<\/strong>
If JHX<\/strong> meets the Jarden target it will return approximately 19%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $56.95<\/strong>, suggesting upside of 23.6%<\/strong>(ex-dividends)
The company's fiscal year ends in March.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 114.61<\/strong> cents and EPS of 187.32<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.49%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.60<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 188.0<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 114.4<\/strong>, implying a prospective dividend yield of 2.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 24.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 151.91<\/strong> cents and EPS of 187.73<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.30%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.55<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 235.5<\/strong>, implying annual growth of 25.3%<\/strong>.
Current consensus DPS estimate is 144.2<\/strong>, implying a prospective dividend yield of 3.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.6<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
MFG<\/a>    MAGELLAN FINANCIAL GROUP LIMITED<\/h2>\n
Wealth Management & Investments – Overnight Price: $15.06 <\/strong><\/p>\n
Jarden rates ((MFG)) as Underweight (4) –<\/p>\n
Magellan Financial Group has announced an online buyback which Jarden estimates will raise EPS by 3%.<\/p>\n
The company will buy back up to 10m shares (5.4% of issuance) to fund cash and financial assets but Jarden says the low cash balance suggests the company will have to sell assets or fund the buyback through debt or cut the dividend (the broker is leaning towards asset sales).<\/p>\n
The broker raises FY23 and FY24 EPS forecasts 3.2% and 3.4%.<\/p>\n
Underweight rating retained to reflect persistent outflows and poor fund performance. Target price rises to $13.60 from $13.35.<\/p>\n
This report was published on March 16, 2022.<\/p>\n
Target price is $13.60<\/strong> Current Price is $15.06 <\/strong> Difference: minus $1.46<\/strong> (current price is over target).
If MFG<\/strong> meets the Jarden target it will return approximately minus 10%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $13.51<\/strong>, suggesting downside of -10.3%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 196.10<\/strong> cents and EPS of 214.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 13.02%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.01<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 219.4<\/strong>, implying annual growth of 51.7%<\/strong>.
Current consensus DPS estimate is 186.6<\/strong>, implying a prospective dividend yield of 12.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 6.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 122.20<\/strong> cents and EPS of 139.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 8.11%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.79<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 142.3<\/strong>, implying annual growth of -35.1%<\/strong>.
Current consensus DPS estimate is 122.2<\/strong>, implying a prospective dividend yield of 8.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 10.6<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: -0.7<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
RDY<\/a>    READYTECH HOLDINGS LIMITED<\/h2>\n
Software & Services – Overnight Price: $3.03 <\/strong><\/p>\n
Shaw and Partners rates ((RDY)) as Buy (1) –<\/p>\n
Readytech Holdings has bought Phoenix HRIS, a cloud-based online recruitment applicant tracking vendor, for $3.3m which includes a $1.2m earn-out.<\/p>\n
Shaw and Partners admires the transaction and expects it will be just as successful as the Zambian acquisiton. <\/p>\n
The broker considers it an extension of Readytech's all-in-one capability int he stand-up economy, and says online recruitment is the next logical step.<\/p>\n
Buy rating retained. Target price inches up to $4.20 from $4.15.<\/p>\n
This report was published on March 18, 2022.<\/p>\n
Target price is $4.20<\/strong> Current Price is $3.03 <\/strong> Difference: $1.17<\/strong>
If RDY<\/strong> meets the Shaw and Partners target it will return approximately 39%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 13.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.28<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 16.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.93<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
SLA<\/a>    SILK LASER AUSTRALIA LIMITED<\/h2>\n
Healthcare services – Overnight Price: $3.39 <\/strong><\/p>\n
Jarden rates ((SLA)) as Buy (1) –<\/p>\n
Having delivered a strong first half result, Jarden is surprised Silk Laser Australia has underperformed the Small Ords Index by -18.5% since late February. The broker expects this is a result of factors outside of company control, and retains a long-term growth outlook.<\/p>\n
The broker is forecasting sizeable earnings growth of 45% in FY23, equating to $27.1m, but notes an expected ten new clinic openings in FY23, maturation of clinics opened in the last two years, and non-recurrence of covid impacts should support the forecast.<\/p>\n
The Buy rating and target price of $5.97 are retained.<\/p>\n
This report was published on March 17, 2022.<\/p>\n
Target price is $5.97<\/strong> Current Price is $3.39 <\/strong> Difference: $2.58<\/strong>
If SLA<\/strong> meets the Jarden target it will return approximately 76%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 14.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.22<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 26.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.99<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.5<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
SUN<\/a>    SUNCORP GROUP LIMITED<\/h2>\n
Insurance – Overnight Price: $11.10 <\/strong><\/p>\n
Jarden rates ((SUN)) as Overweight (2) –<\/p>\n
Suncorp Group has run a ruler over the east-coast flood damage and expects reinsurance will limit catastrophe costs to $75m and Jarden says given strong reinsurance cover remains for the seasonally low period to June, the overall FY22 catastrophe cost only slightly outpaces the broker's forecasts.<\/p>\n
While the company may have to budget more for FY23 catastrophe costs, so will the industry, and Jarden expects home premium rate rises and higher investment yields will balance this out.<\/p>\n
EPS forecasts fall -0.7% in FY22, -0.7% in FY23 and are steady in FY24.<\/p>\n
Target price falls to $12.50 from $12.85. Overweight rating retained, the broker expecting margin expansion of 10% by FY23.<\/p>\n
This report was published on March 16, 2022.<\/p>\n
Target price is $12.50<\/strong> Current Price is $11.10 <\/strong> Difference: $1.4<\/strong>
If SUN<\/strong> meets the Jarden target it will return approximately 13%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $13.61<\/strong>, suggesting upside of 22.6%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 60.00<\/strong> cents and EPS of 71.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.41%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.63<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 69.3<\/strong>, implying annual growth of -14.3%<\/strong>.
Current consensus DPS estimate is 60.0<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.0<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 72.00<\/strong> cents and EPS of 86.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.49%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.91<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 85.8<\/strong>, implying annual growth of 23.8%<\/strong>.
Current consensus DPS estimate is 70.0<\/strong>, implying a prospective dividend yield of 6.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.9<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.7<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
\n
Disclaimer:<\/strong>
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.<\/p>\n
As part of emerging new trends overseas, The Australian Broker Call Extra Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.<\/span><\/span><\/span><\/p>\n
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
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