##{"id":99407,"date":"2022-02-03T13:35:34","date_gmt":"2022-02-03T02:35:34","guid":{"rendered":"https:\/\/www.fnarena.com\/index.php\/2022\/02\/03\/australian-broker-call-extra-edition-feb-03-2022\/"},"modified":"2022-02-03T13:35:34","modified_gmt":"2022-02-03T02:35:34","slug":"australian-broker-call-extra-edition-feb-03-2022","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2022\/02\/03\/australian-broker-call-extra-edition-feb-03-2022\/","title":{"rendered":"Australian Broker Call *Extra* Edition &#8211; Feb 03, 2022"},"content":{"rendered":"<p><strong>An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed&nbsp;equities.<\/strong><\/p>\n<p>In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena&nbsp;has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed&nbsp;stocks, also enlarging the number of stocks that make up the FNArena&nbsp;universe.<\/p>\n<p>One key difference is the *Extra* Edition will not be updated daily, but merely &quot;regularly&quot; depending on availability&nbsp;of&nbsp;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<p>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&nbsp;may not be up to date, or yet awaiting another update by FNArena&#039;s&nbsp;team of journalists.<\/p>\n<p>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<p>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<p>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<p><strong>COMPANIES DISCUSSED IN THIS ISSUE<\/strong><\/p>\n<p>Click on a symbol for fast access.<br \/>The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)<\/p>\n<p><a href=\"#ADH\" style=\"font-weight:bold\">ADH<\/a>&nbsp;&nbsp; <a href=\"#IMR\" style=\"font-weight:bold\">IMR<\/a>&nbsp;&nbsp; <a href=\"#MDR\" style=\"font-weight:bold\">MDR<\/a>&nbsp;&nbsp; <a href=\"#PBH\" style=\"font-weight:bold\">PBH<\/a>&nbsp;&nbsp; <a href=\"#PCK\" style=\"font-weight:bold\">PCK<\/a>&nbsp;&nbsp; <a href=\"#PLS\" style=\"font-weight:bold\">PLS<\/a>&nbsp;&nbsp; <a href=\"#PLT\" style=\"font-weight:bold\">PLT<\/a>&nbsp;&nbsp; <a href=\"#RMD\" style=\"font-weight:bold\">RMD&nbsp;(2)<\/a>&nbsp;&nbsp; <a href=\"#SPT\" style=\"font-weight:bold\">SPT<\/a>&nbsp;&nbsp;<\/p>\n<h2><a name=\"ADH\">ADH<\/a>&nbsp;&nbsp;&nbsp; ADAIRS LIMITED<\/h2>\n<p><strong>Furniture &amp; Renovation &#8211; Overnight Price: $3.25 <\/strong><\/p>\n<p>Wilsons rates ((ADH)) as Overweight (1) &#8211;<\/p>\n<p>Adairs is set to feel continuing pressure from temporary higher costs in the second half according to Wilsons, with office employment cost increases and promotion activity, and transport costs, driving down the broker&#039;s second half forecasts.&nbsp;<\/p>\n<p>The company did achieve a 5.6% beat on Wilsons&#039; sales forecast for the first quarter, while earnings were in line, but given the costs outlook the broker reduces&nbsp;earnings forecasts -19.2% and -1.1% for FY22 and FY23. Store sales were strong given lockdowns.&nbsp;<\/p>\n<p>The Overweight rating and target price of $5.50 are retained.&nbsp;<\/p>\n<p>This report was published on January 28, 2022.<\/p>\n<p>Target price is <strong>$5.50<\/strong> Current Price is <strong>$3.25 <\/strong> Difference: <strong>$2.25<\/strong><br \/>If <strong>ADH<\/strong> meets the Wilsons target it will return approximately <strong> 69%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$4.43<\/strong>, suggesting upside of <strong>33.1%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Wilsons forecasts a full year <strong>FY22<\/strong> dividend of <strong>26.50<\/strong> cents and EPS of <strong>32.90<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>8.15%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>9.88<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>31.2<\/strong>, implying annual growth of <strong>-17.2%<\/strong>.<br \/>Current consensus DPS estimate is <strong>18.8<\/strong>, implying a prospective dividend yield of <strong>5.6%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>10.7<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Wilsons forecasts a full year <strong>FY23<\/strong> dividend of <strong>36.00<\/strong> cents and EPS of <strong>54.50<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>11.08%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>5.96<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>38.9<\/strong>, implying annual growth of <strong>24.7%<\/strong>.<br \/>Current consensus DPS estimate is <strong>24.5<\/strong>, implying a prospective dividend yield of <strong>7.4%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>8.6<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.7<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"IMR\">IMR<\/a>&nbsp;&nbsp;&nbsp; IMRICOR MEDICAL SYSTEMS, INC<\/h2>\n<p><strong>Medical Equipment &amp; Devices &#8211; Overnight Price: $0.96 <\/strong><\/p>\n<p>Moelis rates ((IMR)) as Buy (1) &#8211;<\/p>\n<p>Imricor has signed three new European&nbsp;hospital customers in December and announced December-quarter cash-flow results in line with Moelis&#039;&nbsp;forecasts.<\/p>\n<p>All up, cash fell to US$18.5m in the quarter from US$22.2m.<\/p>\n<p>Moelis says procedure volumes are progressing despite covid&nbsp;challenges and nine sites are set to start procedures between February and April.<\/p>\n<p>The broker appreciates the expanding pipeline and expects 20 sites will be added in 2022. The company plans to start US clinical trials for AFL and the European VT trial in 2022.<\/p>\n<p>Buy rating retained. Target price slips -1c to $2.26.<\/p>\n<p>This report was published on January 30, 2022.<\/p>\n<p>Target price is <strong>$2.26<\/strong> Current Price is <strong>$0.96 <\/strong> Difference: <strong>$1.3<\/strong><br \/>If <strong>IMR<\/strong> meets the Moelis target it will return approximately <strong> 135%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in December.<\/p>\n<p><strong>Forecast for FY21:<\/strong><\/p>\n<blockquote>\n<p>Moelis forecasts a full year <strong>FY21<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 15.30<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 6.27<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Moelis forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 12.50<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 7.68<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"MDR\">MDR<\/a>&nbsp;&nbsp;&nbsp; MEDADVISOR LIMITED<\/h2>\n<p><strong>Healthcare services &#8211; Overnight Price: $0.39 <\/strong><\/p>\n<p>Moelis rates ((MDR)) as Buy (1) &#8211;<\/p>\n<p>MedAdvisor&#039;s&nbsp;December-half cash flow outpaced guidance by 8%, struck largely on stronger like-for-like sales in the US business.&nbsp;<\/p>\n<p>Gross profit margins fell to 49.9% from 55%, meeting Moelis&#039;s estimate, and the company guided to FY22 margins between 52% and&nbsp;54%.<\/p>\n<p>Quarter on quarter, cash in the bank fell to $5.3m from $8.7m but the company is expecting a $4.2m receipt from the covid awareness program and has a $5.5m debt facility, notes the broker.<\/p>\n<p>Buy rating retained. Target price rises to 59c from 52c.<\/p>\n<p>This report was published on January 30, 2022.<\/p>\n<p>Target price is <strong>$0.59<\/strong> Current Price is <strong>$0.39 <\/strong> Difference: <strong>$0.2<\/strong><br \/>If <strong>MDR<\/strong> meets the Moelis target it will return approximately <strong> 51%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Moelis forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 1.60<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 24.38<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Moelis forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 0.90<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 43.33<\/strong>.<\/p>\n<\/blockquote>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"PBH\">PBH<\/a>&nbsp;&nbsp;&nbsp; POINTSBET HOLDINGS LIMITED<\/h2>\n<p><strong>Gaming &#8211; Overnight Price: $5.04 <\/strong><\/p>\n<p>Jarden rates ((PBH)) as Buy (1) &#8211;<\/p>\n<p>Jarden has sharply lowered its target price for PointsBet Holdings to $9.42 from $16.40 in response to the company&#039;s December-quarter update,&nbsp;but retains a Buy rating.<\/p>\n<p>Jarden emphasises the effect of moderating promotions in a highly competitive market but spies encouraging data points as the company rapidly expands its footprint across the United States, doubling the company&#039;s&nbsp;total addressable market to more than 100m people.<\/p>\n<p>Marketing costs eased, and while Jarden expects sufficient cash is in place to fund operations for a year, the sharp retreat in the company&#039;s share price points to expenditure issues over the mid term.<\/p>\n<p>EPS forecasts fall -18% and -29% for FY22 and FY23.&nbsp;<\/p>\n<p>This report was published on January 28, 2022.<\/p>\n<p>Target price is <strong>$9.42<\/strong> Current Price is <strong>$5.04 <\/strong> Difference: <strong>$4.38<\/strong><br \/>If <strong>PBH<\/strong> meets the Jarden target it will return approximately <strong> 87%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 96.30<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 5.23<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Jarden forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 95.00<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 5.31<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.0<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"PCK\">PCK<\/a>&nbsp;&nbsp;&nbsp; PAINCHEK LIMITED<\/h2>\n<p><strong>Medical Equipment &amp; Devices &#8211; Overnight Price: $0.05 <\/strong><\/p>\n<p>Canaccord Genuity rates ((PCK)) as Speculative Buy (1) &#8211;<\/p>\n<p>Beds onboarded to PainChek&#039;s assessment software increased 20% quarter-on-quarter, and with over half of contracted beds onboarded the company is&nbsp;aiming for completion by end of June but&nbsp;Canaccord Genuity&nbsp;expects the company will miss that deadline.&nbsp;<\/p>\n<p>Covid continues to impact on the migration, and delays will&nbsp;impact on the ability to achieve predicted annual recurring revenue by end of June. The broker remains confident of the company having three operating revenue streams by FY23.&nbsp;<\/p>\n<p>International expansion continues to progress,&nbsp;and PainChek has a pipeline in the vicinity of 30,000 beds, plus the company announced it will partner with Sigma Healthcare ((SIG)) to move into the home care market.&nbsp;<\/p>\n<p>The Speculative Buy rating and target price of $0.24 are retained.&nbsp;<\/p>\n<p>This report was published on January 28, 2022.<\/p>\n<p>Target price is <strong>$0.24<\/strong> Current Price is <strong>$0.05 <\/strong> Difference: <strong>$0.19<\/strong><br \/>If <strong>PCK<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 380%<\/strong> (excluding dividends, fees and charges).<\/p>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"PLS\">PLS<\/a>&nbsp;&nbsp;&nbsp; PILBARA MINERALS LIMITED<\/h2>\n<p><strong>New Battery Elements &#8211; Overnight Price: $3.41 <\/strong><\/p>\n<p>Canaccord Genuity rates ((PLS)) as Upgrade to Buy from Hold (1) &#8211;<\/p>\n<p>Pilbara Minerals&#039; SC6 December-quarter production missed Cannacord Genuity&#039;s estimates by -9%,&nbsp;due largely to labour shortages.<\/p>\n<p>Costs rose 32% in line with the broker&#039;s forecast.<\/p>\n<p>Cannacord updates its model to reflect the results and lowers earnings estimates across FY22 to FY24.<\/p>\n<p>Target price falls -3% to $3.80 from $3.90. The&nbsp;broker upgrades to Buy from Hold&nbsp;on valuation.&nbsp;<\/p>\n<p>This report was published on February 1, 2022.<\/p>\n<p>Target price is <strong>$3.80<\/strong> Current Price is <strong>$3.41 <\/strong> Difference: <strong>$0.39<\/strong><br \/>If <strong>PLS<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 11%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$3.46<\/strong>, suggesting upside of <strong>3.7%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>22.00<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>15.50<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>19.3<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>0.8<\/strong>, implying a prospective dividend yield of <strong>0.2%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>17.3<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY23<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>41.00<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>8.32<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>29.2<\/strong>, implying annual growth of <strong>51.3%<\/strong>.<br \/>Current consensus DPS estimate is <strong>1.8<\/strong>, implying a prospective dividend yield of <strong>0.5%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>11.4<\/strong>.<\/p>\n<\/blockquote>\n<p>Market Sentiment: <strong>0.3<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"PLT\">PLT<\/a>&nbsp;&nbsp;&nbsp; PLENTI GROUP LIMITED<\/h2>\n<p><strong>Business &amp; Consumer Credit &#8211; Overnight Price: $1.20 <\/strong><\/p>\n<p>Petra Capital rates ((PLT)) as Buy (1) &#8211;<\/p>\n<p>Following Plenti Group&#039;s 3Q results, Petra Capital leaves FY22 revenue estimates&nbsp;broadly intact, with higher than expected originations offset by slightly lower average interest rate assumptions.<\/p>\n<p>To factor in lower average interest yields, the broker slightly reduces reduce its FY24&nbsp;cash earnings (EBTDA) margin to 1.0% from 1.1%.<\/p>\n<p>As this margin expands&nbsp;due to platform opex&nbsp;(operating expenses) hitting scale, the analyst expects the company to re-rate over the next 12 months. The Buy rating is retained and the target price is set at $1.72.<\/p>\n<p>This report was published on January 27, 2022.<\/p>\n<p>Target price is <strong>$1.72<\/strong> Current Price is <strong>$1.20 <\/strong> Difference: <strong>$0.52<\/strong><br \/>If <strong>PLT<\/strong> meets the Petra Capital target it will return approximately <strong> 43%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in March.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Petra Capital forecasts a full year <strong>FY22<\/strong> EPS of <strong>minus 0.70<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 171.43<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Petra Capital forecasts a full year <strong>FY23<\/strong> EPS of <strong>7.60<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>15.79<\/strong>.<\/p>\n<\/blockquote>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"RMD\">RMD<\/a>&nbsp;&nbsp;&nbsp; RESMED INC<\/h2>\n<p><strong>Medical Equipment &amp; Devices &#8211; Overnight Price: $32.80 <\/strong><\/p>\n<p>Goldman Sachs rates ((RMD)) as Upgrade to Buy from Neutral (1) &#8211;<\/p>\n<p>ResMed&#039;s December-half trading update did little to soothe Goldman Sach&#039;s concerns regarding covid-induced supply-chain shortages.<\/p>\n<p>In particular that the shortages will leave it vulnerable to competitors (although major rival Philips may also be struggling).<\/p>\n<p>The broker expects the FY22 result will fall below guidance.&nbsp;<\/p>\n<p>It&#039;s another story for the long term, however, ResMed proving the undisputed leader in an attractive market, says Goldman Sachs.<\/p>\n<p>The broker cites the supportive pricing profile, opportunity for penetration upside, and the easing of supply constraints as positive.<\/p>\n<p>The broker upgrades to Buy and the target price slips to $35.80.<\/p>\n<p>This report was published on January 30, 2022.<\/p>\n<p>Target price is <strong>$35.80<\/strong> Current Price is <strong>$32.80 <\/strong> Difference: <strong>$3<\/strong><br \/>If <strong>RMD<\/strong> meets the Goldman Sachs target it will return approximately <strong> 9%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$38.24<\/strong>, suggesting upside of <strong>15.8%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Goldman Sachs forecasts a full year <strong>FY22<\/strong> dividend of <strong>21.43<\/strong> cents and EPS of <strong>88.40<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>0.65%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>37.10<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>83.9<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>23.6<\/strong>, implying a prospective dividend yield of <strong>0.7%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>39.4<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Goldman Sachs forecasts a full year <strong>FY23<\/strong> dividend of <strong>24.11<\/strong> cents and EPS of <strong>89.74<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>0.74%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>36.55<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>100.1<\/strong>, implying annual growth of <strong>19.3%<\/strong>.<br \/>Current consensus DPS estimate is <strong>25.2<\/strong>, implying a prospective dividend yield of <strong>0.8%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>33.0<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>Market Sentiment: <strong>0.8<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<hr \/>\n<p>Wilsons rates ((RMD)) as Overweight (1) &#8211;<\/p>\n<p>ResMed has maintained its guidance for a full year recall sales benefit of US$300-350m, which Wilsons notes implies a US$130-150m benefit in the fourth quarter.&nbsp;The Philips recall impact now stands at 5.2m patients, having initially expected to impact&nbsp;3.5m patients.<\/p>\n<p>Given it appears newly manufactured DS2 units are still being used to replace installed base CPAP units, Wilsons expects Philips will be unable to be competitive&nbsp;in the new patient market until 2023.<\/p>\n<p>The broker expects this could offer an 8-10% global market share increase for ResMed, further highlighting an easing of supply chain issues in the second half of FY22, and before Philips&#039; new patient market return, could benefit ResMed in early FY23.&nbsp;<\/p>\n<p>The Overweight rating is retained and the target price decreases to $42.18 from $43.40.<\/p>\n<p>This report was published on January 28, 2022.<\/p>\n<p>Target price is <strong>$42.18<\/strong> Current Price is <strong>$32.80 <\/strong> Difference: <strong>$9.38<\/strong><br \/>If <strong>RMD<\/strong> meets the Wilsons target it will return approximately <strong> 29%<\/strong> (excluding dividends, fees and charges).<br \/>Current consensus price target is <strong>$38.24<\/strong>, suggesting upside of <strong>15.8%<\/strong>(ex-dividends)<br \/>The company&#039;s fiscal year ends in June.<\/p>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Wilsons forecasts a full year <strong>FY22<\/strong> dividend of <strong>22.64<\/strong> cents and EPS of <strong>82.78<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>0.69%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>39.63<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>83.9<\/strong>, implying annual growth of <strong>N\/A<\/strong>.<br \/>Current consensus DPS estimate is <strong>23.6<\/strong>, implying a prospective dividend yield of <strong>0.7%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>39.4<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY23:<\/strong><\/p>\n<blockquote>\n<p>Wilsons forecasts a full year <strong>FY23<\/strong> dividend of <strong>23.31<\/strong> cents and EPS of <strong>93.09<\/strong> cents.<br \/>At the last closing share price the estimated dividend yield is <strong>0.71%<\/strong>.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>35.24<\/strong>.<\/p>\n<p>How do these forecasts compare to market consensus projections?<\/p>\n<p>Current consensus EPS estimate is <strong>100.1<\/strong>, implying annual growth of <strong>19.3%<\/strong>.<br \/>Current consensus DPS estimate is <strong>25.2<\/strong>, implying a prospective dividend yield of <strong>0.8%<\/strong>.<br \/>Current consensus EPS estimate suggests the PER is <strong>33.0<\/strong>.<\/p>\n<\/blockquote>\n<p>This company reports in <strong>USD<\/strong>. All estimates have been converted into AUD by FNArena at present FX values.<br \/>Market Sentiment: <strong>0.8<\/strong><br \/>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<h2><a name=\"SPT\">SPT<\/a>&nbsp;&nbsp;&nbsp; SPLITIT PAYMENTS LIMITED<\/h2>\n<p><strong>Business &amp; Consumer Credit &#8211; Overnight Price: $0.21 <\/strong><\/p>\n<p>Canaccord Genuity rates ((SPT)) as Buy (1) &#8211;<\/p>\n<p>Splitit Payments&#039; December quarter slightly outpaced Cannacord Genuity&#039;s downgraded forecasts.<\/p>\n<p>The broker says expectations are low so any positive news should boost market capitalisation, particularly the signing of new merchants.<\/p>\n<p>Meanwhile, the company has appointed Nandan Sheth&nbsp;to take the reigns as CEO at the of February.<\/p>\n<p>The broker tweaks earnings and cuts the target price to 55c from $1.30. Speculative Buy rating retained.<\/p>\n<p>This report was published on February 1, 2022.<\/p>\n<p>Target price is <strong>$0.55<\/strong> Current Price is <strong>$0.21 <\/strong> Difference: <strong>$0.34<\/strong><br \/>If <strong>SPT<\/strong> meets the Canaccord Genuity target it will return approximately <strong> 162%<\/strong> (excluding dividends, fees and charges).<br \/>The company&#039;s fiscal year ends in December.<\/p>\n<p><strong>Forecast for FY21:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY21<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 7.90<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 2.66<\/strong>.<\/p>\n<\/blockquote>\n<p><strong>Forecast for FY22:<\/strong><\/p>\n<blockquote>\n<p>Canaccord Genuity forecasts a full year <strong>FY22<\/strong> dividend of <strong>0.00<\/strong> cents and EPS of <strong>minus 4.50<\/strong> cents.<br \/>At the last closing share price the stock&#039;s estimated Price to Earnings Ratio (PER) is <strong>minus 4.67<\/strong>.<\/p>\n<\/blockquote>\n<p>All consensus data are updated until yesterday. FNArena&#039;s consensus calculations require a minimum of three sources<\/p>\n<\/p>\n<hr \/>\n<p><strong>Disclaimer:<\/strong><br \/>The content of this information does in no way reflect the opinions of FNArena, or of its journalists. In fact we don&#039;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<p><span style=\"color:#444444\"><span style=\"font-family:arial,sans-serif\"><span style=\"font-size:10.0pt\">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<p><span style=\"color:#444444\"><span style=\"font-family:arial,sans-serif\"><span style=\"font-size:10.0pt\">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":"<p>Extra Edition of the Broker Call Report<\/p>\n","protected":false},"author":3,"featured_media":99408,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/99407"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=99407"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/99407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/99408"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=99407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=99407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=99407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}