##{"id":99230,"date":"2022-01-24T13:20:54","date_gmt":"2022-01-24T02:20:54","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2022\/01\/24\/australian-broker-call-extra-edition-jan-24-2022\/"},"modified":"2022-01-24T13:20:54","modified_gmt":"2022-01-24T02:20:54","slug":"australian-broker-call-extra-edition-jan-24-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/01\/24\/australian-broker-call-extra-edition-jan-24-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition – Jan 24, 2022"},"content":{"rendered":"

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

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

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

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

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

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

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

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

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

360<\/a> AKE<\/a> AUT<\/a> CAI<\/a> DTC<\/a> GNC<\/a> JBH<\/a> MCL<\/a> PDL<\/a> RIO<\/a> WBC<\/a> WSP<\/a> <\/p>\n

360<\/a>    LIFE360, INC<\/h2>\n
Software & Services – Overnight Price: $8.11 <\/strong><\/p>\n
Bell Potter rates ((360)) as Buy (1) –<\/p>\n
Bell Potter reviews Life360 FY22 earnings (EBITDA) forecasts to reflect the company's swift completion of the Tile Acquisition.<\/p>\n
Revenue forecasts rise 10% but estimated earnings (EBITDA) losses rise to -US$29.7m from -US$24m.<\/p>\n
The company publishes its December-quarter Appendix 4C on Thursday, January 27, and the broker expects the company wil have met all metrics.<\/p>\n
Target price falls -8% to $15 from $16.25. Buy rating retained, the broker expecting a total return of more than 75%.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $15.00<\/strong> Current Price is $8.11 <\/strong> Difference: $6.89<\/strong>
If 360<\/strong> meets the Bell Potter target it will return approximately 85%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in December.<\/p>\n
Forecast for FY21:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY21<\/strong> dividend of 0.00<\/strong> cents and EPS of minus 20.85<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 38.90<\/strong>.<\/p>\n<\/blockquote>\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 29.67<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 27.34<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
AKE<\/a>    ALLKEM LIMITED<\/h2>\n
New Battery Elements – Overnight Price: $10.35 <\/strong><\/p>\n
Bell Potter rates ((AKE)) as Hold (3) –<\/p>\n
Allkem's December-quarter production update showed Mt Cattlin outpaced guidance, Olaroz rebounded from a poor December quarter, and higher commodities prices are making their presence known.<\/p>\n
Management has guided to a strong second half, noting an acceleration in lithium demand at the end of 2021 thanks to strong Chinese battery demand.<\/p>\n
Bell Potter considers the company a go-to stock for a broad exposure to lithium markets, with lithium prices hitting records and production set to rise.<\/p>\n
The broker raises EPS forecasts 77% in FY22, 115% in FY23 and 37% in FY24.<\/p>\n
Target price rises to $11 from $9.30. Hold rating retained.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $11.00<\/strong> Current Price is $10.35 <\/strong> Difference: $0.65<\/strong>
If AKE<\/strong> meets the Bell Potter target it will return approximately 6%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $12.64<\/strong>, suggesting upside of 28.3%<\/strong>(ex-dividends)
The company's fiscal year ends in December.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 0.00<\/strong> cents and EPS of 32.80<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.55<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 34.1<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 1.0<\/strong>, implying a prospective dividend yield of 0.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 28.9<\/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 56.10<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.45<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 58.3<\/strong>, implying annual growth of 71.0%<\/strong>.
Current consensus DPS estimate is 12.3<\/strong>, implying a prospective dividend yield of 1.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 16.9<\/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
AUT<\/a>    AUTECO MINERALS LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.09 <\/strong><\/p>\n
Shaw and Partners rates ((AUT)) as Buy (1) –<\/p>\n
Auteco has published positive drill results at the Pickle Cros Gold Project in Ontario, Canada, leading Shaw & Partners to conclude the high-grade vein system continues to grow, and the shallow BIF mineralisation may change the development technique.<\/p>\n
The company is expected to release a resource update this quarter, and the broker expects the resource to expand over the year.<\/p>\n
Auteco's September 30 cash balance was $16.4m.<\/p>\n
High Risk Buy rating and 21c target price are retained. <\/p>\n
This report was published on January 19, 2022.<\/p>\n
Target price is $0.21<\/strong> Current Price is $0.09 <\/strong> Difference: $0.12<\/strong>
If AUT<\/strong> meets the Shaw and Partners target it will return approximately 133%<\/strong> (excluding dividends, fees and charges).
The company's fiscal year ends in June.<\/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 0.70<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.86<\/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 0.70<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.86<\/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
CAI<\/a>    CALIDUS RESOURCES LIMITED<\/h2>\n
Gold & Silver – Overnight Price: $0.82 <\/strong><\/p>\n
Canaccord Genuity rates ((CAI)) as Speculative Buy (1) –<\/p>\n
Calidus Minerals has formed a new lithium exploration company in the Pilbara called Pirra Lithium in a 50:50 joint venture with Haoma Mining.<\/p>\n
Calida paid $1m in scrip to Haoma to pay for previous exploration and will cover the first $1m of the joint venture. Cannacord Genuity says the deal offers Calida, a cheap, low-risk way to enter the lithium field.<\/p>\n
Meanwhile, the company has progressed to 78% completion of the Warrawoona gold prospect (the processing plant is roughly 85% complete) and is on track to turn out first gold in the June quarter (the broker expects early June quarter and expects a re-rate when this occurs, pending covid).<\/p>\n
Target price rises to 85c from 80c. Speculative Buy retained.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $0.85<\/strong> Current Price is $0.82 <\/strong> Difference: $0.03<\/strong>
If CAI<\/strong> meets the Canaccord Genuity target it will return approximately 4%<\/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 minus 1.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 82.00<\/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 16.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.13<\/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
DTC<\/a>    DAMSTRA HOLDINGS LIMITED<\/h2>\n
Software & Services – Overnight Price: $0.33 <\/strong><\/p>\n
Shaw and Partners rates ((DTC)) as Buy (1) –<\/p>\n
Damstra Holdings' management provided a financial update at the annual general meeting after raising $20m through an underwritten entitlement offer at 34c; and Shaw & Partners conjectures that the company may prove a takeover target in 2022.<\/p>\n
October revenues of $2.5m were 21% above the monthly average after the loss of Newmont and, excluding the TIKS acquisition, the broker reckons the figure is closer to 13%. Shaw reckons the company now has enough capital to hit operating cash flow break even again. <\/p>\n
New guidance pegs FY22 revenue at $34m to $34m on an earnings (EBITDA) margin of 15% to 20% (down -14% and -36% respectively. Shaw & Partners considers this achievable and believes guidance has bottomed.<\/p>\n
On the takeover front, Shaw estimates Damstra is valued at a discount to cash flow and comparable technology peers (roughly -50%); and the workforce management space is rapidly consolidating globally across products and verticals.<\/p>\n
At recent takeover multiples, Shaw estimates Damstra would be valued at $1 per share and any activity should reinvigorate the company's fortunes.<\/p>\n
Buy rating retained. Target price falls -44% to 69c following earnings downgrades.<\/p>\n
This report was published on January 29, 2022.<\/p>\n
Target price is $0.69<\/strong> Current Price is $0.33 <\/strong> Difference: $0.36<\/strong>
If DTC<\/strong> meets the Shaw and Partners target it will return approximately 109%<\/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 2.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.50<\/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 1.50<\/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
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
GNC<\/a>    GRAINCORP LIMITED<\/h2>\n
Agriculture – Overnight Price: $7.52 <\/strong><\/p>\n
Bell Potter rates ((GNC)) as Sell (5) –<\/p>\n
Bell Potter revises crop receipts and upgrades FY22 and FY23 net profit and EPS forecasts.<\/p>\n
The broker expects record export volumes for FY22, and notes widening global grain spreads should support wheat price arbitrage and support high trading margins.<\/p>\n
Target price inches up to $6.20 from $6.15. Sell rating retained, believing it won't get much better than this.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $6.20<\/strong> Current Price is $7.52 <\/strong> Difference: minus $1.32<\/strong> (current price is over target).
If GNC<\/strong> meets the Bell Potter target it will return approximately minus 18%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $7.68<\/strong>, suggesting upside of 2.0%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 25.00<\/strong> cents and EPS of 85.80<\/strong> cents.
At the last closing share price the estimated dividend yield is 3.32%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.76<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 77.3<\/strong>, implying annual growth of 26.8%<\/strong>.
Current consensus DPS estimate is 23.7<\/strong>, implying a prospective dividend yield of 3.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 9.7<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 20.00<\/strong> cents and EPS of 51.20<\/strong> cents.
At the last closing share price the estimated dividend yield is 2.66%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.69<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 52.0<\/strong>, implying annual growth of -32.7%<\/strong>.
Current consensus DPS estimate is 25.4<\/strong>, implying a prospective dividend yield of 3.4%<\/strong>.
Current consensus EPS estimate suggests the PER is 14.5<\/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
JBH<\/a>    JB HI-FI LIMITED<\/h2>\n
Consumer Electronics – Overnight Price: $47.75 <\/strong><\/p>\n
Bell Potter rates ((JBH)) as Hold (3) –<\/p>\n
JB Hi-Fi's December-quarter sales outpaced Bell Potter's forecasts by about 2.4% and online sales rose 62.6% to constitute 22.7% of total sales.<\/p>\n
Earnings (EBIT) outpaced the broker by 12.7%.<\/p>\n
FY22 EPS forecasts rise 8.4%, and FY23 and FY24 EPS are unchanged.<\/p>\n
Bell Potter is wary heading into 2022, expecting omicron cycling, rate rises and a peaking in the house cycle could weigh on the company.<\/p>\n
Hold rating is retained and the target price rises to $49.60 from $48.50.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $49.60<\/strong> Current Price is $47.75 <\/strong> Difference: $1.85<\/strong>
If JBH<\/strong> meets the Bell Potter target it will return approximately 4%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $54.88<\/strong>, suggesting upside of 15.2%<\/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 241.30<\/strong> cents and EPS of 373.00<\/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 12.80<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 379.3<\/strong>, implying annual growth of -14.0%<\/strong>.
Current consensus DPS estimate is 248.8<\/strong>, implying a prospective dividend yield of 5.2%<\/strong>.
Current consensus EPS estimate suggests the PER is 12.6<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 207.30<\/strong> cents and EPS of 318.90<\/strong> cents.
At the last closing share price the estimated dividend yield is 4.34%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.97<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 342.1<\/strong>, implying annual growth of -9.8%<\/strong>.
Current consensus DPS estimate is 224.0<\/strong>, implying a prospective dividend yield of 4.7%<\/strong>.
Current consensus EPS estimate suggests the PER is 13.9<\/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
MCL<\/a>    MIGHTY CRAFT LIMITED<\/h2>\n
Food, Beverages & Tobacco – Overnight Price: $0.32 <\/strong><\/p>\n
Canaccord Genuity rates ((MCL)) as Buy (1) –<\/p>\n
Mighty Craft has bought the remaining stake in Victorian brewer Jetty Road, and Cannacord says it has been having to increase supply of Better Beer to meet demand generated by its social influencer collaborator Inspired Unemployed.<\/p>\n
Cannacord says this dynamic demonstrates the power of social media to disrupt the beer industry and says that on the current trajectory, Better Beer is likely to become the top-4 independent beer brand.<\/p>\n
The broker considers Mighty Craft one of its top picks for 2022 and raises EPS forecasts sharply.<\/p>\n
Speculative Buy and 51c target price are retained. <\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $0.51<\/strong> Current Price is $0.32 <\/strong> Difference: $0.19<\/strong>
If MCL<\/strong> meets the Canaccord Genuity target it will return approximately 59%<\/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 1.00<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 32.00<\/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 0.00<\/strong> cents.<\/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
PDL<\/a>    PENDAL GROUP LIMITED<\/h2>\n
Wealth Management & Investments – Overnight Price: $5.16 <\/strong><\/p>\n
Bell Potter rates ((PDL)) as Buy (1) –<\/p>\n
Bell Potter transfers coverage of Pendal Group to Marcus Barnard, and remains broadly positive on the asset manager.<\/p>\n
Buy rating is retained on fundamentals, the broker citing cash generation as a major positive, but notes sentiment remains weak.<\/p>\n
Looking through that, Bell Potter likes Pendal's structure and positioning as a boutique management, its track record and strong performance fee income in 2021. <\/p>\n
Funds under management remain a sore point, despite good fund performance, and the broker notes expenses have been rising faster than costs, operating margins have slipped from 43% in 2018 to 35% in 2021 and a margin recovery in FY222 seems unlikely.<\/p>\n
Buy rating retained given the weak share price versus valuation. Target price falls to $7.48 from $8.40, and the broker posits that for those with a long-term view, the current share price may appear attractive.<\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $7.48<\/strong> Current Price is $5.16 <\/strong> Difference: $2.32<\/strong>
If PDL<\/strong> meets the Bell Potter target it will return approximately 45%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $7.78<\/strong>, suggesting upside of 51.0%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 39.00<\/strong> cents and EPS of 48.70<\/strong> cents.
At the last closing share price the estimated dividend yield is 7.56%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.60<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 51.8<\/strong>, implying annual growth of -0.3%<\/strong>.
Current consensus DPS estimate is 44.7<\/strong>, implying a prospective dividend yield of 8.7%<\/strong>.
Current consensus EPS estimate suggests the PER is 9.9<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 42.00<\/strong> cents and EPS of 52.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 8.14%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.92<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 54.0<\/strong>, implying annual growth of 4.2%<\/strong>.
Current consensus DPS estimate is 46.8<\/strong>, implying a prospective dividend yield of 9.1%<\/strong>.
Current consensus EPS estimate suggests the PER is 9.5<\/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
RIO<\/a>    RIO TINTO LIMITED<\/h2>\n
Bulks – Overnight Price: $108.72 <\/strong><\/p>\n
Shaw and Partners rates ((RIO)) as Hold (3) –<\/p>\n
Rio Tinto has published its December-quarter and 2021 production and sales figures – a year Shaw & Partners describes as not Rio Tinto's finest.<\/p>\n
In summary, Pilbara iron-ore shipments outpaced consensus by 5% but the company experienced price and quality issues.<\/p>\n
Guidance remains subject to commissioning and building of new mines, and cultural heritage issues. Given recent delays to Rio Tinto's projects, the broker remains uninspired.<\/p>\n
Shaw and Partners retains its Hold rating. Target price falls -8.8% to $100.<\/p>\n
This report was published on January 24, 2022.<\/p>\n
Target price is $100.00<\/strong> Current Price is $108.72 <\/strong> Difference: minus $8.72<\/strong> (current price is over target).
If RIO<\/strong> meets the Shaw and Partners target it will return approximately minus 8%<\/strong> (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $106.86<\/strong>, suggesting downside of -1.2%<\/strong>(ex-dividends)
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 1929.04<\/strong> cents and EPS of 1811.71<\/strong> cents.
At the last closing share price the estimated dividend yield is 17.74%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.00<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 1888.2<\/strong>, implying annual growth of N\/A<\/strong>.
Current consensus DPS estimate is 1457.8<\/strong>, implying a prospective dividend yield of 13.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 5.7<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Shaw and Partners forecasts a full year FY22<\/strong> dividend of 1234.53<\/strong> cents and EPS of 1272.75<\/strong> cents.
At the last closing share price the estimated dividend yield is 11.36%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.54<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 1168.8<\/strong>, implying annual growth of -38.1%<\/strong>.
Current consensus DPS estimate is 844.8<\/strong>, implying a prospective dividend yield of 7.8%<\/strong>.
Current consensus EPS estimate suggests the PER is 9.3<\/strong>.<\/p>\n<\/blockquote>\n
This company reports in USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.4<\/strong>
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources<\/p>\n<\/p>\n
WBC<\/a>    WESTPAC BANKING CORPORATION<\/h2>\n
Banks – Overnight Price: $20.98 <\/strong><\/p>\n
Bell Potter rates ((WBC)) as Hold (3) –<\/p>\n
Bell Potter upgrades Westpac's price target to $23 from $22 heading into the quarterly result, expecting lower operating expenses will save the day.<\/p>\n
The broker expects the bank will report lower operating expenses, system mortgage growth, higher-than-system deposit growth but a reduction in net interest margins due to loan repricing.<\/p>\n
Hold rating retained. <\/p>\n
This report was published on January 18, 2022.<\/p>\n
Target price is $23.00<\/strong> Current Price is $20.98 <\/strong> Difference: $2.02<\/strong>
If WBC<\/strong> meets the Bell Potter target it will return approximately 10%<\/strong> (excluding dividends, fees and charges).
Current consensus price target is $25.78<\/strong>, suggesting upside of 23.5%<\/strong>(ex-dividends)
The company's fiscal year ends in September.<\/p>\n
Forecast for FY22:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY22<\/strong> dividend of 120.00<\/strong> cents and EPS of 163.00<\/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 12.87<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 153.3<\/strong>, implying annual growth of 2.6%<\/strong>.
Current consensus DPS estimate is 122.7<\/strong>, implying a prospective dividend yield of 5.9%<\/strong>.
Current consensus EPS estimate suggests the PER is 13.6<\/strong>.<\/p>\n<\/blockquote>\n
Forecast for FY23:<\/strong><\/p>\n
\n
Bell Potter forecasts a full year FY23<\/strong> dividend of 127.00<\/strong> cents and EPS of 191.00<\/strong> cents.
At the last closing share price the estimated dividend yield is 6.05%<\/strong>.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.98<\/strong>.<\/p>\n
How do these forecasts compare to market consensus projections?<\/p>\n
Current consensus EPS estimate is 187.0<\/strong>, implying annual growth of 22.0%<\/strong>.
Current consensus DPS estimate is 136.0<\/strong>, implying a prospective dividend yield of 6.5%<\/strong>.
Current consensus EPS estimate suggests the PER is 11.2<\/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
WSP<\/a>    WHISPIR LIMITED<\/h2>\n
Cloud services – Overnight Price: $2.51 <\/strong><\/p>\n
Wilsons rates ((WSP)) as Overweight (1) –<\/p>\n
Wilsons examines Whispir's recent SingTel deal – a three-year contract with an option to extend for two years, at a minimum deal value of $1.3m.<\/p>\n
The company can also earn a clip on transaction volume – and the broker notes that about one third of the company's revenue is derived from the platform and two-thirds from transaction.<\/p>\n
Wilsons says while the financial implications are mild, the strategic implications are substantial, both within SingTel and the region.<\/p>\n
Wilson largely sits at the mid point of guidance. Overweight rating and $4.84 target price retained.<\/p>\n
This report was published on Janaury 19, 2022.<\/p>\n
Target price is $4.84<\/strong> Current Price is $2.51 <\/strong> Difference: $2.33<\/strong>
If WSP<\/strong> meets the Wilsons target it will return approximately 93%<\/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 13.40<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.73<\/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 10.20<\/strong> cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 24.61<\/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
\n
Disclaimer:<\/strong>
The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FNArena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.<\/p>\n
As part of emerging new trends overseas, The Australian Broker Call Extra Edition also includes providers of sponsored research. Readers should bear in mind, sponsored research, while not necessarily of lower quality, has the embedded complication that the company that is the subject of the research has paid for this research. Providers of sponsored research that can potentially be included in this Report are Breakaway Research, Edison Investment Research, Independent Investment Research, NDF Research, Pitt Street Research, and TMT Analytics.<\/span><\/span><\/span><\/p>\n
Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
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