Dear Reader: As part of FNArena's coverage of the February reporting season in Australia, Editions of the Australian Broker Call *Extra* Report will be focusing on responses to released financial results during the month.<\/p>\n
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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. AD8<\/a> AIA<\/a> AIM<\/a> AX1<\/a> BLX<\/a> CGC<\/a> CLU<\/a> COH<\/a> CSL<\/a> CUP<\/a> CWY<\/a> DUG<\/a> ENN<\/a> GEM (2)<\/a> GMG<\/a> IPD<\/a> LBL<\/a> LOV<\/a> MAD<\/a> MND<\/a> MNF<\/a> MRM<\/a> MXI<\/a> NXS<\/a> OSL<\/a> OVN<\/a> PPT<\/a> QBE<\/a> QHL<\/a> SES<\/a> SKC<\/a> SLC<\/a> TYR<\/a> UWL<\/a> WES<\/a> <\/p>\n Hardware & Equipment – Overnight Price: $7.25 <\/strong><\/p>\n Canaccord Genuity rates ((AD8)) as Buy (1) –<\/p>\n Audinate Group posted its first half result with a higher than expected operating income of $1.8m versus Canaccord Genuity's estimated $1.4m.<\/p>\n The company upgraded its outlook statement noting good trading conditions along with a strong order backlog and this triggers expectation of more upside to Canaccord Genuity's second half and 2021 revenue growth forecasts.<\/p>\n The fact the share price has remained resilience only goes to show the strong performance of the business despite covid headwinds in the northern hemisphere, suggests the broker, expecting positive revenue momentum in the medium term.<\/p>\n The Buy rating is unchanged and the target price is increased to $9 from $8.25.<\/p>\n This report was published on February 22, 2021.<\/p>\n Target price is $9.00<\/strong> Current Price is $7.25 <\/strong> Difference: $1.75<\/strong> Forecast for FY21:<\/strong><\/p>\n Canaccord Genuity forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 5.90<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is -6.0<\/strong>, implying annual growth of N\/A<\/strong>. Forecast for FY22:<\/strong><\/p>\n Canaccord Genuity forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.70<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is -1.9<\/strong>, implying annual growth of N\/A<\/strong>. Market Sentiment: 1.0<\/strong> Infrastructure & Utilities – Overnight Price: $6.65 <\/strong><\/p>\n Jarden rates ((AIA)) as Upgrade to Neutral from Underweight (3) –<\/p>\n After an in-line first half operating result, Jarden lifts the rating to Neutral from Underweight following recent share price weakness and believes believe there is now sufficient valuation support. The target price is increased to NZ$7.10 from NZ$6.95.<\/p>\n The Trans-Tasman bubble remains a key catalyst for a return to profitability and the resumption of capex plans, suggests the broker.<\/p>\n This report was published on February 19, 2021.<\/p>\n Current Price is $6.65<\/strong>. Target price not assessed. Forecast for FY21:<\/strong><\/p>\n Jarden forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 2.53<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is -1.7<\/strong>, implying annual growth of N\/A<\/strong>. Forecast for FY22:<\/strong><\/p>\n Jarden forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 10.03<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is 7.0<\/strong>, implying annual growth of N\/A<\/strong>. This company reports in NZD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values. Commercial Services & Supplies – Overnight Price: $0.86 <\/strong><\/p>\n Bell Potter rates ((AIM)) as Buy (1) –<\/p>\n Access Innovation delivered a first half operating loss of -$3.8m, broadly on expected lines with Bell Potter. The services revenue was up 26% versus last year due to the ongoing traction in the live enterprise product, highlights the broker.<\/p>\n No dividend was declared, as expected. The company reaffirmed its FY21 prospectus forecasts. Bell Potter expects momentum across the company’s live enterprise product to continue, providing upside risk to the prospectus forecasts.<\/p>\n Buy rating with a target price of $1.35.<\/p>\n This report was published on February 24, 2021.<\/p>\n Target price is $1.35<\/strong> Current Price is $0.86 <\/strong> Difference: $0.49<\/strong> Forecast for FY21:<\/strong><\/p>\n Bell Potter forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.00<\/strong> cents. Forecast for FY22:<\/strong><\/p>\n Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 0.00<\/strong> cents.<\/p>\n<\/blockquote>\n Market Sentiment: 1.0<\/strong> Apparel & Footwear – Overnight Price: $2.19 <\/strong><\/p>\n Bell Potter rates ((AX1)) as Buy (1) –<\/p>\n Accent Group's first-half result was strong, observes Bell Potter, with the numbers in line with the company's prior market update. The operating income rose 29% versus last year to $138.4m and was driven by 2.7% like-for-like sales growth. <\/p>\n Bell Potter's investment thesis on Accent Group is based on a mix of omni-channel capabilities, growth levers and strong leadership.<\/p>\n Bell Potter retains its Buy rating with a target price of $2.65.<\/p>\n This report was published on February 24, 2021.<\/p>\n Target price is $2.65<\/strong> Current Price is $2.19 <\/strong> Difference: $0.46<\/strong> Forecast for FY21:<\/strong><\/p>\n Bell Potter forecasts a full year FY21<\/strong> dividend of 11.90<\/strong> cents and EPS of 14.00<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is 13.5<\/strong>, implying annual growth of 30.9%<\/strong>. Forecast for FY22:<\/strong><\/p>\n Bell Potter forecasts a full year FY22<\/strong> dividend of 12.20<\/strong> cents and EPS of 14.40<\/strong> cents. How do these forecasts compare to market consensus projections?<\/p>\n Current consensus EPS estimate is 12.9<\/strong>, implying annual growth of -4.4%<\/strong>. Market Sentiment: 0.3<\/strong> Furniture & Renovation – Overnight Price: $1.68 <\/strong><\/p>\n Jarden rates ((BLX)) as Buy (1) –<\/p>\n First half profit (NPAT) was around 8% ahead of Jarden as comparative sales were strong with positive trends continuing into 2H21. A continuation of this trend is considered likely, given the company's leverage to housing, and the broker's favourable housing view.<\/p>\n The analyst expects the Australian dollar tailwind to continue into the 2H21 which should support margins. Management were confident on rational pricing given the lack of supply while demand remains elevated.The Buy rating and $2 target are retained.<\/p>\n This report was published on February 19, 2021.<\/p>\n Target price is $2.00<\/strong> Current Price is $1.68 <\/strong> Difference: $0.32<\/strong> Forecast for FY21:<\/strong><\/p>\n Jarden forecasts a full year FY21<\/strong> dividend of 7.80<\/strong> cents and EPS of 15.90<\/strong> cents. Forecast for FY22:<\/strong><\/p>\n Jarden forecasts a full year FY22<\/strong> dividend of 7.00<\/strong> cents and EPS of 11.50<\/strong> cents.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\nAD8<\/a> AUDINATE GROUP LIMITED<\/h2>\n
If AD8<\/strong> meets the Canaccord Genuity target it will return approximately 24%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $9.93<\/strong>, suggesting upside of 37.0%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n\n
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 122.88<\/strong>.<\/p>\n
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is N\/A<\/strong>.<\/p>\n<\/blockquote>\n\n
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 154.26<\/strong>.<\/p>\n
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is N\/A<\/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>\nAIA<\/a> AUCKLAND INTERNATIONAL AIRPORT LTD<\/h2>\n
Current consensus price target is N\/A<\/strong>
The company's fiscal year ends in June.<\/p>\n\n
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 262.85<\/strong>.<\/p>\n
Current consensus DPS estimate is N\/A<\/strong>, implying a prospective dividend yield of N\/A<\/strong>.
Current consensus EPS estimate suggests the PER is N\/A<\/strong>.<\/p>\n<\/blockquote>\n\n
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 66.31<\/strong>.<\/p>\n
Current consensus DPS estimate is 3.9<\/strong>, implying a prospective dividend yield of 0.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 95.0<\/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>\nAIM<\/a> ACCESS INNOVATION HOLDINGS LIMITED<\/h2>\n
If AIM<\/strong> meets the Bell Potter target it will return approximately 57%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n\n
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.50<\/strong>.<\/p>\n<\/blockquote>\n\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\nAX1<\/a> ACCENT GROUP LIMITED<\/h2>\n
If AX1<\/strong> meets the Bell Potter target it will return approximately 21%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $2.53<\/strong>, suggesting upside of 15.7%<\/strong>(ex-dividends)
The company's fiscal year ends in June.<\/p>\n\n
At the last closing share price the estimated dividend yield is 5.43%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.64<\/strong>.<\/p>\n
Current consensus DPS estimate is 11.4<\/strong>, implying a prospective dividend yield of 5.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.2<\/strong>.<\/p>\n<\/blockquote>\n\n
At the last closing share price the estimated dividend yield is 5.57%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.21<\/strong>.<\/p>\n
Current consensus DPS estimate is 11.2<\/strong>, implying a prospective dividend yield of 5.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.0<\/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>\nBLX<\/a> BEACON LIGHTING GROUP LIMITED<\/h2>\n
If BLX<\/strong> meets the Jarden target it will return approximately 19%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n\n
At the last closing share price the estimated dividend yield is 4.64%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.57<\/strong>.<\/p>\n<\/blockquote>\n\n
At the last closing share price the estimated dividend yield is 4.17%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.61<\/strong>.<\/p>\n<\/blockquote>\n