##{"id":97003,"date":"2021-10-06T13:48:37","date_gmt":"2021-10-06T02:48:37","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2021\/10\/06\/australian-broker-call-extra-edition-oct-06-2021\/"},"modified":"2021-10-06T13:48:37","modified_gmt":"2021-10-06T02:48:37","slug":"australian-broker-call-extra-edition-oct-06-2021","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2021\/10\/06\/australian-broker-call-extra-edition-oct-06-2021\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Oct 06, 2021"},"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

5GN<\/a> ABP<\/a> AND<\/a> AVN<\/a> BUB<\/a> CHC<\/a> CHZ<\/a> CQR<\/a> CRW<\/a> DGL<\/a> DXS<\/a> ECF<\/a> GMG<\/a> GPT<\/a> HDN<\/a> IGO<\/a> LRK<\/a> MGR<\/a> MMI<\/a> MTS<\/a> NUC<\/a> OBM<\/a> OLL<\/a> OML<\/a> PBH<\/a> QML<\/a> REG<\/a> RMC<\/a> RRL (2)<\/a> SCG<\/a> SCP<\/a> SDV<\/a> SFR<\/a> SGP<\/a> SSG<\/a> TCL<\/a> TLS<\/a> TPG<\/a> UMG<\/a> VCX<\/a> XRF<\/a> YOJ<\/a> ZBT<\/a> <\/p>\n

5GN<\/a>    5G NETWORKS LIMITED<\/h2>\n
Telecommunication – Overnight Price: $0.93 <\/strong><\/p>\n
Wilsons rates ((5GN)) as Overweight (1) –<\/p>\n
Wilsons is increasingly cautious about 5G Networks' outlook for FY22 but remains positive given the company's simplified corporate structure. <\/p>\n
Overweight rating is retained and forecasts are rebased to reflect continuing pandemic challenges.<\/p>\n
Strong cash-flow generation is expected in FY22. The broker reduces the target to $1.44 from $2.11.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $1.44<\/strong> Current Price is $0.93 <\/strong> Difference: $0.51<\/strong>
If 5GN<\/strong> meets the Wilsons target it will return approximately 55%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 1.00<\/strong> cents and EPS of 0.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.08%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 103.33<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 1.00<\/strong> cents and EPS of 2.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.08%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 42.27<\/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
ABP<\/a>    ABACUS PROPERTY GROUP<\/h2>\n
REITs – Overnight Price: $3.54 <\/strong><\/p>\n
Jarden rates ((ABP)) as Buy (2) –<\/p>\n
Jarden believes diversified REITs remain at a disadvantage to pure REITs, despite recent overall strength in the REIT sector. It’s thought logistics, office, retail and funds management themes can be attained elsewhere.<\/p>\n
However, there are exceptions, and the analyst retains the Overweight rating and $3.70 target price for Abacus Property Group. It’s thought the Storage and Commercial strategy is set to deliver above-average and consistent funds from operations (FFO) and dividends. <\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $3.70<\/strong> Current Price is $3.54 <\/strong> Difference: $0.16<\/strong>
If ABP<\/strong> meets the Jarden target it will return approximately 5%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.34<\/strong>, suggesting downside of -5.9%<\/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 18.50<\/strong> cents and EPS of 18.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.23%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.24<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 18.0<\/strong>, implying annual growth of -63.9%<\/strong>.
Current consensus DPS estimate is 17.7<\/strong>, implying a prospective dividend yield of 5.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.7<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 18.4<\/strong>, implying annual growth of 2.2%<\/strong>.
Current consensus DPS estimate is 18.3<\/strong>, implying a prospective dividend yield of 5.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.3<\/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
AND<\/a>    ANSARADA GROUP LIMITED<\/h2>\n
Software & Services – Overnight Price: $1.42 <\/strong><\/p>\n
Moelis rates ((AND)) as Buy (1) –<\/p>\n
Ansarada Group has reported flat FY21 year-on-year revenue growth but Moelis attributes this to a customer shift under the subscription mode and is forecasting revenue growth of 19% in FY22.<\/p>\n
The company reported a 28% increase in customers in FY21 to 3,453.<\/p>\n
The broker notes  243 new customer have been added in the fourth quarter, providing momentum heading into FY22. <\/p>\n
Buy rating and $1.94 target price are retained.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $1.94<\/strong> Current Price is $1.42 <\/strong> Difference: $0.52<\/strong>
If AND<\/strong> meets the Moelis target it will return approximately 37%<\/strong> (excluding dividends, fees and charges).
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 0.00<\/strong> cents and EPS of minus 4.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.56<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 78.89<\/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
AVN<\/a>    AVENTUS GROUP<\/h2>\n
REITs – Overnight Price: $3.18 <\/strong><\/p>\n
Jarden rates ((AVN)) as Underweight (2) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes it can continue to outperform. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
In particular, the analysts believe the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collection levels return to pre-covid levels. They are still trading at significant discounts to their pre-covid levels and their peers.<\/p>\n
The broker retains its Underweight rating and $3.05 target price for Aventus Group. While liking the large format retail asset class, the analyst feels there's less covid-recovery or expansionary growth than retail REIT peers, despite trading on a valuation premium.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $3.05<\/strong> Current Price is $3.18 <\/strong> Difference: minus $0.13<\/strong> (current price is over target).
If AVN<\/strong> meets the Jarden target it will return approximately minus 4%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.24<\/strong>, suggesting upside of 1.7%<\/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 18.20<\/strong> cents and EPS of 20.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.72%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.74<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 19.5<\/strong>, implying annual growth of -73.1%<\/strong>.
Current consensus DPS estimate is 17.6<\/strong>, implying a prospective dividend yield of 5.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 20.7<\/strong>, implying annual growth of 6.2%<\/strong>.
Current consensus DPS estimate is 18.6<\/strong>, implying a prospective dividend yield of 5.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.4<\/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
BUB<\/a>    BUBS AUSTRALIA LIMITED<\/h2>\n
Dairy – Overnight Price: $0.37 <\/strong><\/p>\n
Wilsons rates ((BUB)) as Market Weight (3) –<\/p>\n
BUBS Australia's FY21 results broadly met expectations. The company provided no guidance.<\/p>\n
Wilsons downgrades forecasts to reflect the challenging operating environment and assumes operating earnings (EBITDA) will break even in FY25 instead of FY24.<\/p>\n
The company's main focus in FY22 is to expand into new categories and consumer segments.<\/p>\n
A launch is occurring in North America with initial ranges in Walmart's online store and Amazon.com. Market Weight rating and $0.38 target price retained.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $0.38<\/strong> Current Price is $0.37 <\/strong> Difference: $0.01<\/strong>
If BUB<\/strong> meets the Wilsons target it will return approximately 3%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.56<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 1.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 26.43<\/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
CHC<\/a>    CHARTER HALL GROUP<\/h2>\n
REITs – Overnight Price: $16.74 <\/strong><\/p>\n
Jarden rates ((CHC)) as Buy (1) –<\/p>\n
Jarden believes the REIT fund-managers sub-sector can continue to outperform, despite the REIT sector's recent strength.<\/p>\n
The broker expects the sub sector will outperform peers given their members' strong capitalisation and inherent operating leverage.<\/p>\n
Charter Hall Group's asset under management (AUM) growth profile, and its strong demand from co-investors, hold particular appeal.<\/p>\n
Despite its superior platform, Charter Hall Group trades at a discount to fund management peers and is considered the top pick by the broker. Jarden retains its Buy rating and $20.30 target price.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $20.30<\/strong> Current Price is $16.74 <\/strong> Difference: $3.56<\/strong>
If CHC<\/strong> meets the Jarden target it will return approximately 21%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $19.85<\/strong>, suggesting upside of 20.1%<\/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 40.10<\/strong> cents and EPS of 76.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.40%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.85<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 79.5<\/strong>, implying annual growth of -22.3%<\/strong>.
Current consensus DPS estimate is 40.1<\/strong>, implying a prospective dividend yield of 2.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 20.8<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 42.50<\/strong> cents and EPS of 81.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.54%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.57<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 81.1<\/strong>, implying annual growth of 2.0%<\/strong>.
Current consensus DPS estimate is 42.7<\/strong>, implying a prospective dividend yield of 2.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 20.4<\/strong>.<\/p>\n<\/blockquote>\n
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
CHZ<\/a>    CHESSER RESOURCES LIMITED<\/h2>\n
Overnight Price: $0.13 <\/strong><\/p>\n
Euroz Hartleys rates ((CHZ)) as Speculative Buy (2) –<\/p>\n
Chesser Resources publishes drill results from the northern portion of Area A at the Diamba Sud gold project in Senegal.<\/p>\n
Mineralisation remains open at depth and the company plans to undertake a structural interpretation to understand the controls of Areas A and D.<\/p>\n
Euroz Hartleys envisages potential for a maiden resource of about 500,000 ounces at roughly 2g\/t gold. The broker has a Speculative Buy rating and $0.30 target.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $0.30<\/strong> Current Price is $0.13 <\/strong> Difference: $0.17<\/strong>
If CHZ<\/strong> meets the Euroz Hartleys target it will return approximately 131%<\/strong> (excluding dividends, fees and charges).<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
CQR<\/a>    CHARTER HALL RETAIL REIT<\/h2>\n
REITs – Overnight Price: $4.03 <\/strong><\/p>\n
Jarden rates ((CQR)) as Buy (2) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes it can continue to outperform. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
In particular, the analysts believe the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collection levels return to pre-covid levels. They are still trading at significant discounts to their pre-covid levels and their peers.<\/p>\n
The broker believes the Charter Hall Retail REIT is one of the cheapest in the retail sector and offers an attractive yield. The Overweight rating and $4.30 target price are retained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $4.30<\/strong> Current Price is $4.03 <\/strong> Difference: $0.27<\/strong>
If CQR<\/strong> meets the Jarden target it will return approximately 7%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.05<\/strong>, suggesting upside of 0.1%<\/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 23.70<\/strong> cents and EPS of 27.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.88%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.44<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 27.7<\/strong>, implying annual growth of -45.6%<\/strong>.
Current consensus DPS estimate is 24.7<\/strong>, implying a prospective dividend yield of 6.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.6<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 26.30<\/strong> cents and EPS of 29.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.53%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.80<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 28.5<\/strong>, implying annual growth of 2.9%<\/strong>.
Current consensus DPS estimate is 25.9<\/strong>, implying a prospective dividend yield of 6.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.2<\/strong>.<\/p>\n<\/blockquote>\n
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
CRW<\/a>    CASHREWARDS LIMITED<\/h2>\n
Hardware & Equipment – Overnight Price: $0.81 <\/strong><\/p>\n
Moelis rates ((CRW)) as Buy (1) –<\/p>\n
Cashrewards reports a 29.2% revenue increase for FY21, a -30.6% fall in profit, and a -$25.8m fall in underlying earnings (compared to -$5.2m in FY20).<\/p>\n
Moelis attributes the discrepancy to a large scale-up in technology, products and people.<\/p>\n
The company reports 273,000 active members at year-end and is targeting 500,000 new active members by FY23.<\/p>\n
Moelis recognises this growth opportunity, and the growth potential of its ANZ partnership, but downgrades estimates in anticipation of a weaker first half. <\/p>\n
Buy rating is retained and target price eases to $2.24 from $2.65. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $2.24<\/strong> Current Price is $0.81 <\/strong> Difference: $1.43<\/strong>
If CRW<\/strong> meets the Moelis target it will return approximately 177%<\/strong> (excluding dividends, fees and charges).
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 0.00<\/strong> cents and EPS of minus 27.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.90<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 20.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.03<\/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
DGL<\/a>    DGL GROUP LIMITED<\/h2>\n
Commercial Services & Supplies – Overnight Price: $2.83 <\/strong><\/p>\n
Bell Potter rates ((DGL)) as Downgrade to Hold from Buy (3) –<\/p>\n
DGL Group reports a "solid" set of FY21 numbers that broadly outpaced Bell Potter's estimates and prospectus.<\/p>\n
Gross margins of 35.9% were strong in the second half and implied inflationary pressures were well managed.<\/p>\n
The broker appreciates the company's long-term growth prospects and ample balance sheet.<\/p>\n
But Bell Potter downgrades to Hold from Buy on valuation, noting the stock is overweight in its exposure to the agricultural cycle.<\/p>\n
Target rises to $2.55 from $1.78.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $2.55<\/strong> Current Price is $2.83 <\/strong> Difference: minus $0.28<\/strong> (current price is over target).
If DGL<\/strong> meets the Bell Potter target it will return approximately minus 10%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 6.90<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.01<\/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 9.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.11<\/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
DXS<\/a>    DEXUS<\/h2>\n
REITs – Overnight Price: $10.46 <\/strong><\/p>\n
Jarden rates ((DXS)) as Downgrade to Neutral from Buy (3) –<\/p>\n
Jarden believes diversified REITs remain at a disadvantage to pure REITs, despite recent overall strength in the REIT sector. It’s thought logistics, office, retail and funds management themes can be attained elsewhere.<\/p>\n
With the outlook for office remaining mixed and near-term dilution from mooted asset sales, the broker sees better value on offer than Dexus. Jarden lowers its rating to Neutral from Overweight and reduces its target price to $11 from $11.30.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $11.00<\/strong> Current Price is $10.46 <\/strong> Difference: $0.54<\/strong>
If DXS<\/strong> meets the Jarden target it will return approximately 5%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $11.15<\/strong>, suggesting upside of 7.0%<\/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 52.90<\/strong> cents and EPS of 68.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.06%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.27<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 64.4<\/strong>, implying annual growth of -38.6%<\/strong>.
Current consensus DPS estimate is 52.7<\/strong>, implying a prospective dividend yield of 5.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.2<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 54.00<\/strong> cents and EPS of 71.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.16%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.71<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 67.4<\/strong>, implying annual growth of 4.7%<\/strong>.
Current consensus DPS estimate is 55.4<\/strong>, implying a prospective dividend yield of 5.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.5<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.3<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ECF<\/a>    ELANOR COMMERCIAL PROPERTY FUND<\/h2>\n
REITs – Overnight Price: $1.09 <\/strong><\/p>\n
Shaw and Partners rates ((ECF)) as Buy (1) –<\/p>\n
Shaw and Partners finds the Australian commercial real estate market attractive, particularly in a regional context. The broker considers lease renewal risk is manageable, noting the low level of expiries over FY22-23.<\/p>\n
FY21 results slightly outpaced expectations and guidance; and the acquisition of 50 Cavill Avenue, Gold Coast, for $113.5m should position the business for a positive year in FY22.<\/p>\n
Hence, the broker believes a combination of current income and capital growth potential is not reflected in the unit price. Buy rating and $1.35 target price retained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $1.35<\/strong> Current Price is $1.09 <\/strong> Difference: $0.26<\/strong>
If ECF<\/strong> meets the Shaw and Partners target it will return approximately 24%<\/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 9.50<\/strong> cents and EPS of 10.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 8.72%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 9.90<\/strong> cents and EPS of 11.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 9.08%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.56<\/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
GMG<\/a>    GOODMAN GROUP<\/h2>\n
Infra & Property Developers – Overnight Price: $21.16 <\/strong><\/p>\n
Jarden rates ((GMG)) as Underweight (4) –<\/p>\n
Jarden believes the REIT fund managers sub-sector can continue to outperform, despite recent strength in the REIT sector.<\/p>\n
The broker expects the sub-sector will outperform its peers given its members are well capitalised and have inherent operating leverage.<\/p>\n
Jarden appreciates the sub-sector's asset under management (AUM) growth and strong demand from co-investors.<\/p>\n
The broker believes Goodman Group's valuation remains stretched, especially in light of opaque earnings and a heavy reliance on development work in progress (WIP) growth. The Underweight rating and $20.70 target are retained.<\/p>\n
This report was published on October 2, 2021.<\/p>\n
Target price is $20.70<\/strong> Current Price is $21.16 <\/strong> Difference: minus $0.46<\/strong> (current price is over target).
If GMG<\/strong> meets the Jarden target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $24.40<\/strong>, suggesting upside of 15.7%<\/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 30.00<\/strong> cents and EPS of 74.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.42%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.48<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 75.5<\/strong>, implying annual growth of -39.8%<\/strong>.
Current consensus DPS estimate is 30.7<\/strong>, implying a prospective dividend yield of 1.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 27.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 33.40<\/strong> cents and EPS of 82.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.58%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.52<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 85.4<\/strong>, implying annual growth of 13.1%<\/strong>.
Current consensus DPS estimate is 33.9<\/strong>, implying a prospective dividend yield of 1.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 24.7<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
GPT<\/a>    GPT GROUP<\/h2>\n
Infra & Property Developers – Overnight Price: $4.98 <\/strong><\/p>\n
Jarden rates ((GPT)) as Upgrade to Overweight from Neutral (2) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes it can continue to outperform. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
In particular, the analyst believes the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collections return to pre-covid levels. They are still trading at significant discounts to pre-covid levels and their peers.<\/p>\n
The broker expects strong earnings momentum from GPT Group thanks to a retail recovery and ongoing expansion into logistics.<\/p>\n
Jarden upgrades to Overweight from Neutral. The $5.10 target price is unchanged.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $5.10<\/strong> Current Price is $4.98 <\/strong> Difference: $0.12<\/strong>
If GPT<\/strong> meets the Jarden target it will return approximately 2%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.98<\/strong>, suggesting downside of -0.1%<\/strong>(ex-dividends)
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY21<\/strong> dividend of 24.70<\/strong> cents and EPS of 29.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.96%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.11<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 28.6<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 24.2<\/strong>, implying a prospective dividend yield of 4.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 27.60<\/strong> cents and EPS of 32.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.54%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.37<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 31.4<\/strong>, implying annual growth of 9.8%<\/strong>.
Current consensus DPS estimate is 26.1<\/strong>, implying a prospective dividend yield of 5.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.9<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.1<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
HDN<\/a>    HOMECO DAILY NEEDS REIT<\/h2>\n
REITs – Overnight Price: $1.62 <\/strong><\/p>\n
Jarden rates ((HDN)) as Downgrade to Overweight from Buy (2) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes it can continue to outperform. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
In particular, the analysts believe the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collection levels return to pre-covid levels. They are still trading at significant discounts to their pre-covid levels and their peers.<\/p>\n
The broker believe the outlook remains positive for HomeCo Daily Needs REIT though downgrades to Overweight from Buy due to a currently demanding valuation. The $1.65 target price is retained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $1.65<\/strong> Current Price is $1.62 <\/strong> Difference: $0.03<\/strong>
If HDN<\/strong> meets the Jarden target it will return approximately 2%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $1.65<\/strong>, suggesting upside of 1.2%<\/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 8.00<\/strong> cents and EPS of 8.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.94%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.41<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 8.6<\/strong>, implying annual growth of 51.1%<\/strong>.
Current consensus DPS estimate is 8.3<\/strong>, implying a prospective dividend yield of 5.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.0<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 8.40<\/strong> cents and EPS of 8.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.19%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.41<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 9.1<\/strong>, implying annual growth of 5.8%<\/strong>.
Current consensus DPS estimate is 8.8<\/strong>, implying a prospective dividend yield of 5.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.9<\/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
IGO<\/a>    IGO LIMITED<\/h2>\n
Nickel – Overnight Price: $8.59 <\/strong><\/p>\n
Shaw and Partners rates ((IGO)) as Buy (1) –<\/p>\n
Shaw and Partners describe FY21 as a successful year for IGO Limited, the company having completed the divestment of the Tropicana gold mine and its transformation to a future-facing, clean energy company.<\/p>\n
Capital generated by the Tropicana divestment was reinvested into a lithium acquisition, and the broker reports spodumene prices have risen 90% since. <\/p>\n
Shaw and Partners expects a significant rise in valuation as the potential of the company's assets are understood.<\/p>\n
Buy rating retained. Target price increases to $10.00 from $7.70. <\/p>\n
This report was published on September 1, 2021. <\/p>\n
Target price is $10.00<\/strong> Current Price is $8.59 <\/strong> Difference: $1.41<\/strong>
If IGO<\/strong> meets the Shaw and Partners target it will return approximately 16%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $7.86<\/strong>, suggesting downside of -7.4%<\/strong>(ex-dividends)
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 13.50<\/strong> cents and EPS of 31.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.57%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.71<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 33.4<\/strong>, implying annual growth of -53.9%<\/strong>.
Current consensus DPS estimate is 16.2<\/strong>, implying a prospective dividend yield of 1.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 25.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 11.50<\/strong> cents and EPS of 28.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.34%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.83<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 38.0<\/strong>, implying annual growth of 13.8%<\/strong>.
Current consensus DPS estimate is 22.6<\/strong>, implying a prospective dividend yield of 2.7%<\/strong>.
Current consensus EPS estimate suggests the PER is 22.3<\/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
LRK<\/a>    LARK DISTILLING CO. LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $4.85 <\/strong><\/p>\n
Moelis rates ((LRK)) as Buy (1) –<\/p>\n
Lark Distilling Co.'s FY21 earnings proved a 21% beat on Moelis' estimate thanks to a 98% jump in revenue and a 114% leap in gross profit. <\/p>\n
While the company is yet to provide FY22 guidance, the broker expects increasing inventory from maturing whisky and growing gin sales will support delivery on growth targets. <\/p>\n
Buy rating is retained. Target price increases to $5.46 from $3.80.<\/p>\n
The report was published on September 1, 2021.<\/p>\n
Target price is $5.46<\/strong> Current Price is $4.85 <\/strong> Difference: $0.61<\/strong>
If LRK<\/strong> meets the Moelis target it will return approximately 13%<\/strong> (excluding dividends, fees and charges).
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 0.00<\/strong> cents and EPS of 7.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 65.54<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of 16.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.87<\/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
MGR<\/a>    MIRVAC GROUP<\/h2>\n
Infra & Property Developers – Overnight Price: $2.91 <\/strong><\/p>\n
Jarden rates ((MGR)) as Buy (2) –<\/p>\n
Jarden expects a big FY22 for the Residential segment of Mirvac Group, despite a strong recent performance from the overall REIT sector. The group has 85% of earnings (EBIT) secured for FY22 and into FY23, after a pull-forward of projects.<\/p>\n
However, the analyst cautions such a pull-forward of demand cannot be sustained forever as house price growth is both the highest and quickest seen versus prior cycles.<\/p>\n
Recent asset sales highlight the relative quality of the Mirvac Trust, with long weighted average lease expiry (WALE) and relatively low exposure to leasing related headwinds across office and retail. The Overweight rating and $3.30 target price are retained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $3.20<\/strong> Current Price is $2.91 <\/strong> Difference: $0.29<\/strong>
If MGR<\/strong> meets the Jarden target it will return approximately 10%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.14<\/strong>, suggesting upside of 8.2%<\/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 10.20<\/strong> cents and EPS of 15.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.51%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.02<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 14.7<\/strong>, implying annual growth of -35.8%<\/strong>.
Current consensus DPS estimate is 10.3<\/strong>, implying a prospective dividend yield of 3.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 19.7<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 10.80<\/strong> cents and EPS of 16.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.71%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.53<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 16.2<\/strong>, implying annual growth of 10.2%<\/strong>.
Current consensus DPS estimate is 11.3<\/strong>, implying a prospective dividend yield of 3.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.9<\/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
MMI<\/a>    METRO MINING LIMITED<\/h2>\n
Coal – Overnight Price: $0.02 <\/strong><\/p>\n
Shaw and Partners rates ((MMI)) as Buy (1) –<\/p>\n
Metro Mining reports a -$87m net loss for the first half of FY21, reflecting a $55m impairment charge. <\/p>\n
The company also announces it has entered into a binding off-take agreement with Xiangsen Aluminum.<\/p>\n
Metro Mining hints at negotiations with Xiangsen Aluminum for a volume increase in FY22. Shaw and Partners' says the agreement demonstrates the strength of the company's relationship's with Chinese counterparties. <\/p>\n
The broker spies reduced freight costs and increased production. <\/p>\n
Buy rating retained. Target price eases to $0.07 from $0.15. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $0.07<\/strong> Current Price is $0.02 <\/strong> Difference: $0.05<\/strong>
If MMI<\/strong> meets the Shaw and Partners target it will return approximately 250%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 4.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 0.45<\/strong>.<\/p>\n<\/blockquote>\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 0.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.00<\/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
MTS<\/a>    METCASH LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $3.96 <\/strong><\/p>\n
Jarden rates ((MTS)) as Overweight (2) –<\/p>\n
The annual general meeting's trading update was better than Jarden expected. Still, supermarket sales remain negative for the past eight weeks compared with Coles ((COL)) and Woolworths ((WOW)).<\/p>\n
The broker believes this reflects some normalisation of share, a lack of online offers and the cycling of more challenging comparables for the IGA group. The broker argues the market is continuing to overprice the normalisation of market share.<\/p>\n
Hardware proved a highlight, accelerating over the past eight weeks with FY22 sales for the year to date up 16.3%.<\/p>\n
Overweight rating retained. Target price rises to $3.90 from $3.70.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $3.90<\/strong> Current Price is $3.96 <\/strong> Difference: minus $0.06<\/strong> (current price is over target).
If MTS<\/strong> meets the Jarden target it will return approximately minus 2%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $4.30<\/strong>, suggesting upside of 8.3%<\/strong>(ex-dividends)
The company's fiscal year ends in April.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 19.20<\/strong> cents and EPS of 27.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.85%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.56<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 24.9<\/strong>, implying annual growth of 6.5%<\/strong>.
Current consensus DPS estimate is 18.1<\/strong>, implying a prospective dividend yield of 4.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 20.30<\/strong> cents and EPS of 28.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.13%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.75<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 25.4<\/strong>, implying annual growth of 2.0%<\/strong>.
Current consensus DPS estimate is 18.3<\/strong>, implying a prospective dividend yield of 4.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.6<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
NUC<\/a>    NUCHEV PTY LIMITED<\/h2>\n
Dairy – Overnight Price: $0.65 <\/strong><\/p>\n
Wilsons rates ((NUC)) as Market Weight (3) –<\/p>\n
Nuchev's FY21 results broadly met expectations. No explicit guidance was provided. The company is intent on building its brand equity, and expanding business in Australia and China.<\/p>\n
Wilsons spies an incremental opportunity in the reformulated goat infant formula, which will include human milk oligosaccharides.<\/p>\n
Sales forecasts and gross margins are largely unchanged.<\/p>\n
Market Weight rating retained. Target price falls $0.56 from $0.57.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $0.56<\/strong> Current Price is $0.65 <\/strong> Difference: minus $0.09<\/strong> (current price is over target).
If NUC<\/strong> meets the Wilsons target it will return approximately minus 14%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 14.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.58<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 11.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.80<\/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
OBM<\/a>    ORA BANDA MINING LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.10 <\/strong><\/p>\n
Euroz Hartleys rates ((OBM)) as No Rating (-1) –<\/p>\n
The weekly performance of gold production has improved at Daveyhurst and FY22 guidance for 80,800 ounces has been maintained. Euroz Hartleys notes handling issues at the plant have improved amid harder ore feed and a better performance from the crusher screen.<\/p>\n
The broker expects the company will need to build cash reserves given flow is tight and there is little margin for error. If not additional funding could be required. <\/p>\n
Euroz Hartleys is reviewing its $0.45 price target and rating.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Current Price is $0.10<\/strong>. Target price not assessed.<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
OLL<\/a>    OPENLEARNING LIMITED<\/h2>\n
Education & Tuition – Overnight Price: $0.11 <\/strong><\/p>\n
Canaccord Genuity rates ((OLL)) as Buy (1) –<\/p>\n
Canaccord Genuity reports benefits from OpenLearning's shift to usage-based pricing are taking time to play out, but expects receipts and revenue growth in the third quarter, thanks partly to the third UNSW Transition Program intake.<\/p>\n
The broker expects lower near-term earnings, but believes OpenLearning is well positioned to capitalise on growing demand for online education and reskilling. <\/p>\n
Speculative Buy rating is retained. Target price eases to $0.39 from $0.43.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $0.39<\/strong> Current Price is $0.11 <\/strong> Difference: $0.28<\/strong>
If OLL<\/strong> meets the Canaccord Genuity target it will return approximately 255%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Canaccord Genuity forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 3.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.67<\/strong>.<\/p>\n<\/blockquote>\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 3.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.67<\/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
OML<\/a>    OOH!MEDIA LIMITED<\/h2>\n
Out of Home Advertising – Overnight Price: $1.76 <\/strong><\/p>\n
Jarden rates ((OML)) as Buy (1) –<\/p>\n
Jarden is positive about the outlook for oOh!media, believing the company offers one of the best avenues to obtain direct leverage to the domestic economic recovery.<\/p>\n
Management has signaled its client base is more responsive to engaging during lockdowns in 2021 than it was in 2020.<\/p>\n
The company is still considering the best approach to programmatic trading but agrees this is an incremental opportunity.<\/p>\n
Jarden retains a Buy rating and $2.04 target.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $2.04<\/strong> Current Price is $1.76 <\/strong> Difference: $0.28<\/strong>
If OML<\/strong> meets the Jarden target it will return approximately 16%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $1.59<\/strong>, suggesting downside of -8.6%<\/strong>(ex-dividends)
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of 1.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 176.00<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 3.0<\/strong>, implying annual growth of N\/A<\/strong>.
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 58.0<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 5.00<\/strong> cents and EPS of 10.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.84%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.60<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 7.8<\/strong>, implying annual growth of 160.0%<\/strong>.
Current consensus DPS estimate is 0.4<\/strong>, implying a prospective dividend yield of 0.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 22.3<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.3<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
PBH<\/a>    POINTSBET HOLDINGS LIMITED<\/h2>\n
Gaming – Overnight Price: $10.00 <\/strong><\/p>\n
Bell Potter rates ((PBH)) as Buy (1) –<\/p>\n
Bell Potter transfers coverage to another analyst with a change in the investment thesis. The broker is still positive on the outlook, attracted to the large opportunity in sports wagering in both the US and Canada. PointsBet also has a key difference in that it owns its own IT platform.<\/p>\n
The main changes are increases in revenue forecasts and also in forecast losses. The broker now forecasts a greater EBITDA loss in FY22 relative to FY21 which is finally reduced in FY24. Breakeven is expected in FY25.<\/p>\n
Speculative Buy rating retained. Target is reduced to $13.75 from $20.10.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $13.75<\/strong> Current Price is $10.00 <\/strong> Difference: $3.75<\/strong>
If PBH<\/strong> meets the Bell Potter target it will return approximately 38%<\/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 108.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.23<\/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 107.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.31<\/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
QML<\/a>    QMINES LIMITED<\/h2>\n
Overnight Price: $0.41 <\/strong><\/p>\n
Shaw and Partners rates ((QML)) as Initiation of coverage with Buy (1) –<\/p>\n
Shaw and Partners initiates coverage on QMines with a Buy rating and $0.69 target. The company owns the Mount Chalmers project, north-east of Rockhampton, Queensland. This is an historic copper\/gold mine that operated until 1982.<\/p>\n
The company is exploring for additional mineralisation near the existing open pit and has advanced targets at Woods Shaft, Botos and Mount Warminster.<\/p>\n
QMines also has the Silverwood, Warroo and Herries Range projects south-west of Brisbane which are at an earlier stage.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $0.69<\/strong> Current Price is $0.41 <\/strong> Difference: $0.28<\/strong>
If QML<\/strong> meets the Shaw and Partners target it will return approximately 68%<\/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 minus 1.70<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 24.12<\/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 minus 1.60<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.62<\/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
REG<\/a>    REGIS HEALTHCARE LIMITED<\/h2>\n
Aged Care & Seniors – Overnight Price: $2.00 <\/strong><\/p>\n
Moelis rates ((REG)) as Buy (1) –<\/p>\n
Regis Healthcare's FY21 full-year underlying earnings of $73.5m proved a -10% miss on Moelis' forecasts, thanks to $7.1m in expenses related to employee underpayments.<\/p>\n
But the broker maintains the faith, forecasting underlying earnings of $147m for FY22.<\/p>\n
Despite remaining historically low, average occupancy for Regis Healthcare increased during the second half to 89.6%. FY22 forecasts suggest a 1.5 percentage point improvement in average occupancy to 90.5%. <\/p>\n
Buy rating retained. Target price increases to $2.56 from $2.23.<\/p>\n
This report was published on September 1, 2021. <\/p>\n
Target price is $2.56<\/strong> Current Price is $2.00 <\/strong> Difference: $0.56<\/strong>
If REG<\/strong> meets the Moelis target it will return approximately 28%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $2.27<\/strong>, suggesting upside of 17.0%<\/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 5.90<\/strong> cents and EPS of 49.50<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.95%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.04<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 8.4<\/strong>, implying annual growth of 26.7%<\/strong>.
Current consensus DPS estimate is 7.6<\/strong>, implying a prospective dividend yield of 3.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 23.1<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Moelis forecasts a full year FY23<\/strong> dividend of 7.70<\/strong> cents and EPS of 51.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.85%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.85<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 10.6<\/strong>, implying annual growth of 26.2%<\/strong>.
Current consensus DPS estimate is 10.0<\/strong>, implying a prospective dividend yield of 5.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 18.3<\/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
RMC<\/a>    RESIMAC GROUP LIMITED<\/h2>\n
Banks – Overnight Price: $1.94 <\/strong><\/p>\n
Wilsons rates ((RMC)) as Overweight (1) –<\/p>\n
Resimac's FY21 underlying net profit hit the top of guidance. Wilsons expects some compression in margins over the short term but operating leverage should provide a meaningful offset over the medium term.<\/p>\n
The broker believes the -15% discount to peers is unwarranted and retains an Overweight rating.<\/p>\n
Ultimately, Wilsons believes Resimac should trade at a premium because it has the largest residential loan book amid growth opportunities in the ABS acquisition. Target is raised to $3.90 from $3.80.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $3.90<\/strong> Current Price is $1.94 <\/strong> Difference: $1.96<\/strong>
If RMC<\/strong> meets the Wilsons target it will return approximately 101%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 8.80<\/strong> cents and EPS of 29.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.54%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.60<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY23<\/strong> dividend of 9.80<\/strong> cents and EPS of 32.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.05%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.93<\/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
RRL<\/a>    REGIS RESOURCES LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $2.16 <\/strong><\/p>\n
Bell Potter rates ((RRL)) as Buy (1) –<\/p>\n
FY21 results were well ahead of Bell Potter's expectations. The broker notes key strategic objectives were achieved in FY21, primarily being the acquisition of the 30% interest in Tropicana.<\/p>\n
The broker is forecasting production growth of 30% in FY22 and growth in earnings per share of 25% while EBITDA margins are maintained at 50%.<\/p>\n
Buy rating retained. Target rises to $4.05 from $3.89.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $4.05<\/strong> Current Price is $2.16 <\/strong> Difference: $1.89<\/strong>
If RRL<\/strong> meets the Bell Potter target it will return approximately 87%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.13<\/strong>, suggesting upside of 44.2%<\/strong>(ex-dividends)
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 8.00<\/strong> cents and EPS of 33.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.70%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.55<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 26.9<\/strong>, implying annual growth of 2.0%<\/strong>.
Current consensus DPS estimate is 9.0<\/strong>, implying a prospective dividend yield of 4.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 8.1<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 8.00<\/strong> cents and EPS of 35.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.70%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.12<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 25.6<\/strong>, implying annual growth of -4.8%<\/strong>.
Current consensus DPS estimate is 7.2<\/strong>, implying a prospective dividend yield of 3.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 8.5<\/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
Shaw and Partners rates ((RRL)) as Buy (1) –<\/p>\n
Regis Resources' FY21 profit after tax of $146.2m was a beat on Shaw and Partners forecast of $138m.<\/p>\n
Revenue of $819.2m was ahead of consensus forecasts of $810.1m, as was underlying earnings of $403m compared to the forecast $373.6m. <\/p>\n
The company closed out the year with net debt of about -$32m. The broker reports the company has completed the Tropicana 30% stake acquisition, the Ben Hur gold deposit acquisition and increased its stakes in Group Mineral Resources and Group Ore Reserves.<\/p>\n
The Buy rating and target price of $3.20 are retained. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $3.20<\/strong> Current Price is $2.16 <\/strong> Difference: $1.04<\/strong>
If RRL<\/strong> meets the Shaw and Partners target it will return approximately 48%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $3.13<\/strong>, suggesting upside of 44.2%<\/strong>(ex-dividends)
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 7.00<\/strong> cents and EPS of 34.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.24%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.33<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 26.9<\/strong>, implying annual growth of 2.0%<\/strong>.
Current consensus DPS estimate is 9.0<\/strong>, implying a prospective dividend yield of 4.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 8.1<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 7.00<\/strong> cents and EPS of 34.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.24%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.35<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 25.6<\/strong>, implying annual growth of -4.8%<\/strong>.
Current consensus DPS estimate is 7.2<\/strong>, implying a prospective dividend yield of 3.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 8.5<\/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
SCG<\/a>    SCENTRE GROUP<\/h2>\n
REITs – Overnight Price: $3.01 <\/strong><\/p>\n
Jarden rates ((SCG)) as Buy (1) –<\/p>\n
Jarden believes REITs can continue to outperform, despite the sector's recent strength. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
In particular, the analyst believes the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collection levels return to pre-covid levels. They are still trading at significant discounts to their pre-covid levels and their peers.<\/p>\n
The broker regards Scentre Group as one of the top picks in retail and upgrades its rating to Buy from Overweight and maintains its $3.45 target price.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $3.45<\/strong> Current Price is $3.01 <\/strong> Difference: $0.44<\/strong>
If SCG<\/strong> meets the Jarden target it will return approximately 15%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $2.76<\/strong>, suggesting downside of -8.3%<\/strong>(ex-dividends)
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY21<\/strong> dividend of 12.70<\/strong> cents and EPS of 15.90<\/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 18.93<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 16.3<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 13.7<\/strong>, implying a prospective dividend yield of 4.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 18.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY22<\/strong> dividend of 15.60<\/strong> cents and EPS of 20.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.18%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.61<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 20.0<\/strong>, implying annual growth of 22.7%<\/strong>.
Current consensus DPS estimate is 15.3<\/strong>, implying a prospective dividend yield of 5.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 15.0<\/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>\n
SCP<\/a>    SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP RE LIMITED<\/h2>\n
REITs – Overnight Price: $2.69 <\/strong><\/p>\n
Jarden rates ((SCP)) as Buy (1) –<\/p>\n
Jarden believes REITs can continue to outperform, despite the sector's recent strength. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
The analyst believes the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collections return to pre-covid levels. They are still trading at significant discounts to pre-covid levels and peers.<\/p>\n
The broker regards Shopping Centres Australasia Property Group as one of the top picks in retail and upgrades its rating to Buy from Overweight and maintains its $2.95 target price.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $2.95<\/strong> Current Price is $2.69 <\/strong> Difference: $0.26<\/strong>
If SCP<\/strong> meets the Jarden target it will return approximately 10%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $2.68<\/strong>, suggesting downside of -0.9%<\/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 13.70<\/strong> cents and EPS of 15.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.09%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.92<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 16.2<\/strong>, implying annual growth of -62.3%<\/strong>.
Current consensus DPS estimate is 14.2<\/strong>, implying a prospective dividend yield of 5.3%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.7<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 15.80<\/strong> cents and EPS of 18.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 5.87%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.94<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 16.9<\/strong>, implying annual growth of 4.3%<\/strong>.
Current consensus DPS estimate is 15.1<\/strong>, implying a prospective dividend yield of 5.6%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.0<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.4<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
SDV<\/a>    SCIDEV LIMITED<\/h2>\n
Industrial Sector Contractors & Engineers – Overnight Price: $0.77 <\/strong><\/p>\n
Canaccord Genuity rates ((SDV)) as Buy (1) –<\/p>\n
SciDev's FY21 results met Canaccord Genuity's forecasts, and the broker says the company is on a strong growth trajectory, having increased revenue by about 135% in the year. <\/p>\n
The broker says the performance of the Haldon Industries acquisition outpaced expectations, contributing $2.0m in revenue in seven weeks. Guidance has not been provided, but Cannacord Genuity forecasts FY22 revenue of $68.9m and cash growth.<\/p>\n
Buy rating and target price of $1.36 are retained. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $1.36<\/strong> Current Price is $0.77 <\/strong> Difference: $0.59<\/strong>
If SDV<\/strong> meets the Canaccord Genuity target it will return approximately 77%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/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 1.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.33<\/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 3.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.00<\/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
SFR<\/a>    SANDFIRE RESOURCES LIMITED<\/h2>\n
Copper – Overnight Price: $5.20 <\/strong><\/p>\n
Shaw and Partners rates ((SFR)) as Buy (1) –<\/p>\n
Shaw and Partners notes Sandfire Resources reported record sales, revenue, profit after tax and dividends in FY21, thanks to both continued strong commodity pricing and operational performance. <\/p>\n
The company came close to doubling group cash since the end of FY20,  closing out the year with $573.7m. Shaw and Partners notes redeployment of cash is underway. <\/p>\n
The Buy rating is retained and the target price increases to $8.60 from $8.40. <\/p>\n
This report was published on September 1, 2021. <\/p>\n
Target price is $8.60<\/strong> Current Price is $5.20 <\/strong> Difference: $3.4<\/strong>
If SFR<\/strong> meets the Shaw and Partners target it will return approximately 65%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $6.49<\/strong>, suggesting upside of 25.3%<\/strong>(ex-dividends)
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 21.80<\/strong> cents and EPS of 108.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.19%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.78<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 80.0<\/strong>, implying annual growth of -11.1%<\/strong>.
Current consensus DPS estimate is 25.1<\/strong>, implying a prospective dividend yield of 4.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 6.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 6.60<\/strong> cents and EPS of 33.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.27%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.76<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 31.1<\/strong>, implying annual growth of -61.1%<\/strong>.
Current consensus DPS estimate is 5.2<\/strong>, implying a prospective dividend yield of 1.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.7<\/strong>.<\/p>\n<\/blockquote>\n
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
SGP<\/a>    STOCKLAND<\/h2>\n
Infra & Property Developers – Overnight Price: $4.41 <\/strong><\/p>\n
Jarden rates ((SGP)) as Underweight (2) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes it can continue to outperform. For the residential segment of Stockland, the broker expects a big FY22, with 85% of earnings (EBIT) secured for FY22 and into FY23, after a pull-forward of projects.<\/p>\n
However, the analyst cautions the pull-forward of demand cannot be sustained forever as house price growth is both the highest and quickest seen versus prior cycles.<\/p>\n
Catalysts for the next wave of growth such as Manufactured Housing Estate (MHE) and strategic redirection are more long-term than short-term notes Jarden. The Underweight rating and $4.60 target price are retained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $4.60<\/strong> Current Price is $4.41 <\/strong> Difference: $0.19<\/strong>
If SGP<\/strong> meets the Jarden target it will return approximately 4%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.83<\/strong>, suggesting upside of 9.0%<\/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 27.50<\/strong> cents and EPS of 36.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.24%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.25<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 33.0<\/strong>, implying annual growth of -28.8%<\/strong>.
Current consensus DPS estimate is 26.9<\/strong>, implying a prospective dividend yield of 6.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 13.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 28.30<\/strong> cents and EPS of 37.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.42%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.67<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 34.5<\/strong>, implying annual growth of 4.5%<\/strong>.
Current consensus DPS estimate is 28.2<\/strong>, implying a prospective dividend yield of 6.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.8<\/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
SSG<\/a>    SHAVER SHOP GROUP LIMITED<\/h2>\n
Household & Personal Products – Overnight Price: $0.99 <\/strong><\/p>\n
Shaw and Partners rates ((SSG)) as Buy (1) –<\/p>\n
Shaw and Partners have described Shaver Shop Group's FY21 results as another strong year. The company's reported sales of $213.7m were a beat on forecast, and implied 10% year-on-year growth, while profit after tax of $17.5m was at the top end of guidance. <\/p>\n
The broker notes online activity increased 41.1%, representing 29% of total sales, and was a key driver of results. It is Shaw and Partners view that Shaver Shop Group is one of the best positioned Australian retailers and remains undervalued by the market.<\/p>\n
The Buy rating and target price of $1.50 are retained. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $1.50<\/strong> Current Price is $0.99 <\/strong> Difference: $0.51<\/strong>
If SSG<\/strong> meets the Shaw and Partners target it will return approximately 52%<\/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 8.00<\/strong> cents and EPS of 12.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 8.08%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.80<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY23<\/strong> dividend of 10.00<\/strong> cents and EPS of 16.10<\/strong> cents.
At the last closing share price the estimated dividend yield is 10.10%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.15<\/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
TCL<\/a>    TRANSURBAN GROUP LIMITED<\/h2>\n
Infrastructure & Utilities – Overnight Price: $14.19 <\/strong><\/p>\n
Jarden rates ((TCL)) as Neutral (3) –<\/p>\n
Jarden suspects Transurban Groups logistics traffic was reduced in September because of Australia Post's cessation of parcel pick ups for four days.<\/p>\n
Logistics has been critical to traffic given lockdowns in Sydney and Melbourne have diminished commuter traffic.<\/p>\n
Jarden has only incorporated the impacts of lockdowns in its FY22 consolidated EBITDA of $1.97bn to the end of August.<\/p>\n
The broker reports mediation for the West Gate Tunnel is continuing and that Transurban hopes other parties will contribute to the estimated $3.3bn additional cost.<\/p>\n
Jarden maintains a Neutral rating and $13.70 target.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $13.70<\/strong> Current Price is $14.19 <\/strong> Difference: minus $0.49<\/strong> (current price is over target).
If TCL<\/strong> meets the Jarden target it will return approximately minus 3%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $14.91<\/strong>, suggesting upside of 5.4%<\/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 49.30<\/strong> cents and EPS of 4.30<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.47%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 330.00<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 9.5<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 42.1<\/strong>, implying a prospective dividend yield of 3.0%<\/strong>.
Current consensus EPS estimate suggests the PER is 148.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Jarden forecasts a full year FY23<\/strong> dividend of 57.60<\/strong> cents and EPS of 18.60<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.06%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 76.29<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 22.0<\/strong>, implying annual growth of 131.6%<\/strong>.
Current consensus DPS estimate is 61.8<\/strong>, implying a prospective dividend yield of 4.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 64.3<\/strong>.<\/p>\n<\/blockquote>\n
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
TLS<\/a>    TELSTRA CORPORATION LIMITED<\/h2>\n
Telecommunication – Overnight Price: $3.89 <\/strong><\/p>\n
Jarden rates ((TLS)) as Buy (1) –<\/p>\n
Recent increases to NBN pricing have signalled a return to market rationality post completion of the roll-out.<\/p>\n
Based on industry discussions, Jarden expects this will be the status quo for some time with further price increases across FY22 as the industry focuses on improving profitability.<\/p>\n
The broker has a Buy rating and $4.30 target for Telstra.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $4.30<\/strong> Current Price is $3.89 <\/strong> Difference: $0.41<\/strong>
If TLS<\/strong> meets the Jarden target it will return approximately 11%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.38<\/strong>, suggesting upside of 12.5%<\/strong>(ex-dividends)<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 13.3<\/strong>, implying annual growth of -15.0%<\/strong>.
Current consensus DPS estimate is 16.0<\/strong>, implying a prospective dividend yield of 4.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 29.2<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 15.6<\/strong>, implying annual growth of 17.3%<\/strong>.
Current consensus DPS estimate is 16.0<\/strong>, implying a prospective dividend yield of 4.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 24.9<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
TPG<\/a>    TPG TELECOM LIMITED<\/h2>\n
Telecommunication – Overnight Price: $7.06 <\/strong><\/p>\n
Jarden rates ((TPG)) as Neutral (3) –<\/p>\n
TPG Telecom has launched 5G FWA with pricing consistent with Jarden's expectations and at a slight discount to the equivialent NBN offer.<\/p>\n
Combining the strong performance of the 4G product with the 5G launch and broader industry marketing, the broker expects the shift towards FWA product will accelerate and underpin an improvement in industry fixed margins.<\/p>\n
Neutral rating retained. Target is $6.10.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $6.10<\/strong> Current Price is $7.06 <\/strong> Difference: minus $0.96<\/strong> (current price is over target).
If TPG<\/strong> meets the Jarden target it will return approximately minus 14%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.53<\/strong>, suggesting upside of 7.2%<\/strong>(ex-dividends)<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 14.8<\/strong>, implying annual growth of -76.9%<\/strong>.
Current consensus DPS estimate is 13.3<\/strong>, implying a prospective dividend yield of 1.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 47.4<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 19.2<\/strong>, implying annual growth of 29.7%<\/strong>.
Current consensus DPS estimate is 14.5<\/strong>, implying a prospective dividend yield of 2.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 36.6<\/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
UMG<\/a>    UNITED MALT GROUP LIMITED<\/h2>\n
Agriculture – Overnight Price: $4.04 <\/strong><\/p>\n
Wilsons rates ((UMG)) as Overweight (1) –<\/p>\n
United Malt Group's FY21 guidance for operating earnings (EBITDA) of $136-141m, missed Wilsons' forecast. The company has confirmed malt volumes are at 95% of pre-pandemic levels.<\/p>\n
The broker finds, despite the lockdowns in some regions, markets are re-opening with encouraging trends in volumes and product mix. Overweight rating maintained. Target is reduced to $4.75 from $5.09.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $4.75<\/strong> Current Price is $4.04 <\/strong> Difference: $0.71<\/strong>
If UMG<\/strong> meets the Wilsons target it will return approximately 18%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $4.75<\/strong>, suggesting upside of 17.5%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY21<\/strong> dividend of 7.50<\/strong> cents and EPS of 15.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 1.86%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.73<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 12.4<\/strong>, implying annual growth of -26.5%<\/strong>.
Current consensus DPS estimate is 7.5<\/strong>, implying a prospective dividend yield of 1.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 32.6<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Wilsons forecasts a full year FY22<\/strong> dividend of 13.50<\/strong> cents and EPS of 22.40<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.34%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.04<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 23.3<\/strong>, implying annual growth of 87.9%<\/strong>.
Current consensus DPS estimate is 14.0<\/strong>, implying a prospective dividend yield of 3.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.3<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: 0.8<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
VCX<\/a>    VICINITY CENTRES<\/h2>\n
REITs – Overnight Price: $1.69 <\/strong><\/p>\n
Jarden rates ((VCX)) as Upgrade to Neutral from Underweight (3) –<\/p>\n
Despite a strong recent performance from the REIT sector, Jarden believes REITs can continue to outperform. Globally, retail REITs re-rated quickly once reopening took place and the same is expected in Australia.<\/p>\n
The analyst believes the market is underestimating the re-rating potential for more discretionary retail REITs, as gross collections return to pre-covid levels. They are still trading at significant discounts to pre-covid levels and their peers.<\/p>\n
The broker expects Vicinity Centres to benefit from a retail recovery and upgrades its rating to Neutral from Underweight, despite CBD exposure and FY22 cost inflation slightly delaying the recovery versus a pure play retail REIT. The target rises to $1.80 from $1.75.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $1.80<\/strong> Current Price is $1.69 <\/strong> Difference: $0.11<\/strong>
If VCX<\/strong> meets the Jarden target it will return approximately 7%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $1.64<\/strong>, suggesting downside of -3.4%<\/strong>(ex-dividends)<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 9.7<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 8.0<\/strong>, implying a prospective dividend yield of 4.7%<\/strong>.
Current consensus EPS estimate suggests the PER is 17.5<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Current consensus EPS estimate is 11.8<\/strong>, implying annual growth of 21.6%<\/strong>.
Current consensus DPS estimate is 9.9<\/strong>, implying a prospective dividend yield of 5.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.4<\/strong>.<\/p>\n<\/blockquote>\n
Market Sentiment: -0.2<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
XRF<\/a>    XRF SCIENTIFIC LIMITED<\/h2>\n
Mining Sector Contracting – Overnight Price: $0.60 <\/strong><\/p>\n
Euroz Hartleys rates ((XRF)) as Buy (2) –<\/p>\n
XRF Scientific will acquire 50% of Orbis Mining. The company believes this business has potential to grow rapidly in a large market and will diversify revenue into the gold mining sector.<\/p>\n
Euroz Hartleys notes the transaction is accretive and highlights the expansion in precious metals could be transformational in the medium term. Speculative Buy rating and $0.65 target maintained.<\/p>\n
This report was published on September 2, 2021.<\/p>\n
Target price is $0.65<\/strong> Current Price is $0.60 <\/strong> Difference: $0.05<\/strong>
If XRF<\/strong> meets the Euroz Hartleys target it will return approximately 8%<\/strong> (excluding dividends, fees and charges).<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
YOJ<\/a>    YOJEE LIMITED<\/h2>\n
Software & Services – Overnight Price: $0.19 <\/strong><\/p>\n
Euroz Hartleys rates ((YOJ)) as Buy (2) –<\/p>\n
The company has launched a new unit, Yojee Labs, in response to unprecedented demand in supply chain logistics. An R&D team has been established to pioneer technologies, with the company intending to extend solutions to solve logistics challenges globally.<\/p>\n
Proof of concept studies are underway and the company is in discussion with major enterprise clients.<\/p>\n
Euroz Hartleys notes the global logistics industry accounts for US$9 trillion annually. The broker maintains a Speculative Buy rating and $0.50 target.<\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $0.50<\/strong> Current Price is $0.19 <\/strong> Difference: $0.31<\/strong>
If YOJ<\/strong> meets the Euroz Hartleys target it will return approximately 163%<\/strong> (excluding dividends, fees and charges).<\/p>\n
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
ZBT<\/a>    ZEBIT, INC<\/h2>\n
Business & Consumer Credit – Overnight Price: $0.70 <\/strong><\/p>\n
Shaw and Partners rates ((ZBT)) as Buy (1) –<\/p>\n
Zebit reported a record start to the second half of FY21, noting around 105,000 customer registrations in July and August compared to a total 196,000 in the first half. Shaw and Partners noted the company reiterated full year revenue guidance of US$140-150m.<\/p>\n
It is Shaw and Partners view there is opportunity for Zebit as a first mover in the US, and that the company will benefit from increased marketing costs. <\/p>\n
The Buy rating and target price of $2.00 are retained. <\/p>\n
This report was published on September 1, 2021.<\/p>\n
Target price is $2.00<\/strong> Current Price is $0.70 <\/strong> Difference: $1.3<\/strong>
If ZBT<\/strong> meets the Shaw and Partners target it will return approximately 186%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 13.50<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.19<\/strong>.<\/p>\n<\/blockquote>\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 minus 11.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.25<\/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
\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
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