Australian Broker Call *Extra* Edition – Sep 12, 2023

This story features ATLANTIC LITHIUM LIMITED., and other companies. For more info SHARE ANALYSIS: A11

An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.

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.

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.

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.

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.

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.

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.

COMPANIES DISCUSSED IN THIS ISSUE

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)

A11 (2)   ASX   CAR   CMM (2)   CVN   EML   IAG   JIN   MQG   NWS   ORA   SUN   WTC  

A11    ATLANTIC LITHIUM LIMITED.

New Battery Elements – Overnight Price: $0.49

Canaccord Genuity rates ((A11)) as Speculative Buy (1) –

Atlantic Lithium has an agreement with the Ghana government to invest US$33m in the company. The Minerals Income Investment Fund of Ghana will also be invited to participate in the competitive process for Ewoyaa offtake.

If completed, Canaccord Genuity considers the announcement addresses two issues including aligning national interest and helping to close the funding gap.

By bringing the government onto the register and project level, the company will increase the government's motivation to approve the mining/environmental licences in order to reach production as soon as possible. Speculative Buy rating and 80p target maintained.

This report was published on September 8, 2023.

Current Price is $0.49. Target price not assessed.
The company's fiscal year ends in June.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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Wilsons rates ((A11)) as Overweight (1) –

Ghana's sovereign wealth fund will invest in Atlantic Lithium and take a 6% stake in the company's projects in the country, including Ewoyaa. The fund will also buy a 3.05% stake in Atlantic Lithium for US$5m.

This will enable the government to bid for the available supply contract of the lithium produced. Wilsons asserts this is a "massive positive" for the company providing a clear indication of the government support for the project development. Overweight rating and $1.10 target maintained.

This report was published on September 8, 2023.

Target price is $1.10 Current Price is $0.49 Difference: $0.61
If A11 meets the Wilsons target it will return approximately 124% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 61.25.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 122.50.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ASX    ASX LIMITED

Wealth Management & Investments – Overnight Price: $55.62

Jarden rates ((ASX)) as Neutral (3) –

Jarden observes ASX futures volumes have improved steadily over August, up 13% and following a 12% lift in July. Equity turnover on the other hand is soft with velocity at 77%, the lowest level for an August result season in over a decade. Capital raisings also contracted -13%.

Jarden envisages scope for revenue to improve as trading and capital raisings recover, yet the near-term outlook is uncertain because of a lack of clarity surrounding the ASX cost and capital expenditure outlook. Neutral rating and $61.55 target maintained.

This report was published on September 6, 2023.

Target price is $61.55 Current Price is $55.62 Difference: $5.93
If ASX meets the Jarden target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $62.88, suggesting upside of 14.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 219.50 cents and EPS of 258.20 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.54.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 251.8, implying annual growth of 53.6%.
Current consensus DPS estimate is 222.0, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 21.9.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 232.40 cents and EPS of 273.40 cents.
At the last closing share price the estimated dividend yield is 4.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 259.9, implying annual growth of 3.2%.
Current consensus DPS estimate is 220.6, implying a prospective dividend yield of 4.0%.
Current consensus EPS estimate suggests the PER is 21.2.

Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CAR    CARSALES.COM LIMITED

Automobiles & Components – Overnight Price: $29.47

Goldman Sachs rates ((CAR)) as Neutral (3) –

Goldman Sachs is more positive about the growth outlook for Trader Interactive and Carsales after the company presented at a conference in San Francisco.

The broker upgrades FY24-26 EPS estimates by 1-2% and now expects revenue growth in FY24 and FY25 of 15% and 12%, respectively. Target rises 11% to $29 and a Neutral rating is retained.

This report was published on September 10, 2023.

Target price is $29.00 Current Price is $29.47 Difference: minus $0.47 (current price is over target).
If CAR meets the Goldman Sachs target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $27.73, suggesting downside of -7.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 72.00 cents and EPS of 90.00 cents.
At the last closing share price the estimated dividend yield is 2.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 82.2, implying annual growth of -54.7%.
Current consensus DPS estimate is 65.8, implying a prospective dividend yield of 2.2%.
Current consensus EPS estimate suggests the PER is 36.3.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 80.00 cents and EPS of 99.00 cents.
At the last closing share price the estimated dividend yield is 2.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 29.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 93.9, implying annual growth of 14.2%.
Current consensus DPS estimate is 74.7, implying a prospective dividend yield of 2.5%.
Current consensus EPS estimate suggests the PER is 31.8.

Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CMM    CAPRICORN METALS LIMITED

Gold & Silver – Overnight Price: $4.16

Canaccord Genuity rates ((CMM)) as Buy (1) –

FY23 results were in line with expectations. Canaccord Genuity highlights Capricorn Metals' impressive 51% EBITDA margin. FY24 production guidance is unchanged as is growth capital expenditure guidance.

The broker also notes, following the close of a portion of its hedge book, the company is uunhedged and fully exposed to spot gold prices over FY24. Buy rating retained. Target is $5.40.

This report was published on September 8, 2023.

Target price is $5.40 Current Price is $4.16 Difference: $1.24
If CMM meets the Canaccord Genuity target it will return approximately 30% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 25.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.64.

Forecast for FY25:

Canaccord Genuity forecasts a full year FY25 EPS of 25.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.64.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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Goldman Sachs rates ((CMM)) as Neutral (3) –

FY23 EBITDA of $162m was in line with Goldman Sachs' estimates. Capricorn Metals has retained FY24 Karlawinda guidance, expecting a strong operating performance and gold production of 115-125,000 ounces.

At Mount Gibson resource extension and near-mine exploration drilling will continue, with key environmental surveys and reports finalised for submission in the current quarter. Goldman Sachs retains a Neutral rating and $4.40 target.

This report was published on September 8, 2023.

Target price is $4.40 Current Price is $4.16 Difference: $0.24
If CMM meets the Goldman Sachs target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 0.00 cents and EPS of 34.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.24.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 EPS of 22.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.91.

Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

CVN    CARNARVON ENERGY LIMITED

Crude Oil – Overnight Price: $0.15

Jarden rates ((CVN)) as Buy (1) –

Jarden believes Carnarvon Energy is well-placed to fund its share of the development of Dorado although timing is pushed back for a final decision on phase 1 to late 2025.

Exploration drilling is more likely in 2024 the broker suggests, targeting liquids-rich gas volumes to underpin phase 2. JV partner Santos has indicated there is not enough gas at Dorado to justify a pipeline back to it is process infrastructure on Varanus Island.

Jarden points out recent updates by Carnarvon Energy show a priority for gas prospects, slightly unusual as companies typically target oil prospects over gas. The company expects targets will be finalised for drilling by the end of the year.

Buy rating retained. Target is reduced to $0.24 from $0.25.

This report was published on September 5, 2023.

Target price is $0.24 Current Price is $0.15 Difference: $0.09
If CVN meets the Jarden target it will return approximately 60% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 75.00.

Forecast for FY25:

Jarden forecasts a full year FY25 EPS of minus 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 75.00.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

EML    EML PAYMENTS LIMITED

Business & Consumer Credit – Overnight Price: $1.17

Wilsons rates ((EML)) as Market Weight (3) –

EML Payments has provided greater clarity on cost expectations and Wilsons updates its forecasts as a result. Forecasts now better reflect the likely outcome in FY24, including expense growth, and net interest income which is primarily driven by interest on the float.

The broker's Market Weight rating is maintained while the target rises 20% to $1.17 to reflect upward revisions of 4% and 2% to FY24 and FY25 revenue forecasts, respectively.

EBITDA forecasts for these years are reduced by -20% and -22%, respectively, to reflect the higher cost base as a result of staff wage pressures.

This report was published on September 11, 2023.

Target price is $1.17 Current Price is $1.17 Difference: $0
If EML meets the Wilsons target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 5.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.67.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of 7.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.25.

Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

IAG    INSURANCE AUSTRALIA GROUP LIMITED

Insurance – Overnight Price: $5.84

Jarden rates ((IAG)) as Overweight (2) –

Jarden assesses domestic general insurers, despite a softer performance at the FY23 results, still have some momentum. The industry is on track to deliver its first year of double-digit net earned premium growth in a decade.

The broker's analysis suggests compelling upside risk to consensus estimates for underlying profit, and the risks for the near term appear skewed to the upside given a more favourable weather backdrop.

The broker points out the PE ratios are at an undemanding -7% discount to 10-year averages and there are compelling reasons to be overweight.

Overweight rating retained for Insurance Australia Group. Target is $6.15.

This report was published on September 6, 2023.

Target price is $6.15 Current Price is $5.84 Difference: $0.31
If IAG meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.85, suggesting upside of 1.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 27.00 cents and EPS of 37.70 cents.
At the last closing share price the estimated dividend yield is 4.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.9, implying annual growth of 2.9%.
Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 4.6%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 31.00 cents and EPS of 43.00 cents.
At the last closing share price the estimated dividend yield is 5.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.58.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.3, implying annual growth of 12.6%.
Current consensus DPS estimate is 31.0, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 14.7.

Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

JIN    JUMBO INTERACTIVE LIMITED

Gaming – Overnight Price: $15.66

Wilsons rates ((JIN)) as Overweight (1) –

Jumbo Interactive has terms for the second phase of its contract with Lotterywest in Western Australia. The first extension option, of four years, has been confirmed and will start in November.

The company's fee will reduce slightly to a tiered structure of 8.0% for the first $35m in total transaction value and 9.0% for TTV above $35m.

Wilsons considers the announcement a positive move, with only a marginal headline negative impact from the lower fee structure and this is more than offset by other positive factors, including the four-year second phase being better than the original three-year plan.

Overweight rating and $17.54 target maintained.

This report was published on September 11, 2023.

Target price is $17.54 Current Price is $15.66 Difference: $1.88
If JIN meets the Wilsons target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $18.32, suggesting upside of 18.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 60.30 cents and EPS of 71.00 cents.
At the last closing share price the estimated dividend yield is 3.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 72.6, implying annual growth of 44.7%.
Current consensus DPS estimate is 57.7, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 21.3.

Forecast for FY25:

Wilsons forecasts a full year FY25 dividend of 68.60 cents and EPS of 80.70 cents.
At the last closing share price the estimated dividend yield is 4.38%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.41.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 85.9, implying annual growth of 18.3%.
Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 18.0.

Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

MQG    MACQUARIE GROUP LIMITED

Wealth Management & Investments – Overnight Price: $173.39

Goldman Sachs rates ((MQG)) as Neutral (3) –

Macquarie Group has made minor amendments to its outlook for FY24. The full year outlook is unchanged, which Goldman Sachs estimates implies around $4bn in post-tax earnings while the timing of asset realisations within Macquarie Asset Management will be biased to the second half.

As a result of minor changes to EPS estimates the broker raises the target to $194.99 from $192.97. Neutral maintained.

This report was published on September 6, 2023.

Target price is $194.99 Current Price is $173.39 Difference: $21.6
If MQG meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $189.88, suggesting upside of 10.8%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 570.00 cents and EPS of 1014.70 cents.
At the last closing share price the estimated dividend yield is 3.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1075.3, implying annual growth of -20.6%.
Current consensus DPS estimate is 657.4, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 15.9.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 640.00 cents and EPS of 1150.30 cents.
At the last closing share price the estimated dividend yield is 3.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1181.4, implying annual growth of 9.9%.
Current consensus DPS estimate is 704.6, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 14.5.

Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

NWS    NEWS CORPORATION

Print, Radio & TV – Overnight Price: $33.74

Goldman Sachs rates ((NWS)) as Buy (1) –

Goldman Sachs assesses News Corp has three key pillars of growth that should stand it in good stead. These include the Dow Jones business, with the company upbeat about the outlook for the B2B segment. Double-digit high margin revenue growth is anticipated for the recent OPIS/CMA acquisitions.

In book publishing management expects de-stocking impacts and supply chain issues will not be repeated and this will be complemented by a solid front book list and growth in audiobooks.

Early signs of buoyancy also exist in digital real estate in Australia with medium-term upside anticipated through Move. Goldman Sachs retains a Buy rating with a target of $35.10.

This report was published on September 8, 2023.

Target price is $35.10 Current Price is $33.74 Difference: $1.36
If NWS meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 15.01 cents and EPS of 96.82 cents.
At the last closing share price the estimated dividend yield is 0.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.85.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 15.01 cents and EPS of 121.44 cents.
At the last closing share price the estimated dividend yield is 0.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.78.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ORA    ORORA LIMITED

Paper & Packaging – Overnight Price: $2.75

Jarden rates ((ORA)) as Overweight (2) –

Orora will acquire Saverglass, a prestige glass manufacturer based in France. The acquisition will be funded predominantly by equity which Jarden believes will lead to an overhang on the stock in coming months.

While still believing the company can achieve its mid-single digit earnings accretion target, the broker assesses it will require top-line growth of more than 4-5%, around $50m in cost synergies and underlying EBITDA margin expansion. This will in turn required disciplined execution by management.

Overweight retained. Target is reduced to $3.30 from $3.90.

This report was published on September 6, 2023.

Target price is $3.30 Current Price is $2.75 Difference: $0.55
If ORA meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $3.61, suggesting upside of 30.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 16.00 cents and EPS of 21.60 cents.
At the last closing share price the estimated dividend yield is 5.82%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.9, implying annual growth of 11.8%.
Current consensus DPS estimate is 17.4, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 12.1.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 18.90 cents and EPS of 25.20 cents.
At the last closing share price the estimated dividend yield is 6.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.91.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.0, implying annual growth of 9.2%.
Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 11.1.

Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SUN    SUNCORP GROUP LIMITED

Insurance – Overnight Price: $13.90

Jarden rates ((SUN)) as Buy (1) –

Jarden assesses domestic general insurers, despite a softer performance at the FY23 results, still have some momentum. The industry is on track to deliver its first year of double-digit net earned premium growth in a decade.

The broker's analysis suggests compelling upside risk to consensus estimates for underlying profit, and the risks for the near term appear skewed to the upside given a more favourable weather backdrop.

The broker points out the PE ratios are at an undemanding -7% discount to 10-year averages and there are compelling reasons to be overweight, with Suncorp Group preferred over Insurance Australia Group because of greater value appeal.

Buy retained. Target is $15.15.

This report was published on September 6, 2023.

Target price is $15.15 Current Price is $13.90 Difference: $1.25
If SUN meets the Jarden target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $15.23, suggesting upside of 9.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 70.00 cents and EPS of 109.80 cents.
At the last closing share price the estimated dividend yield is 5.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 107.2, implying annual growth of 17.9%.
Current consensus DPS estimate is 74.7, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 12.9.

Forecast for FY25:

Jarden forecasts a full year FY25 dividend of 121.00 cents and EPS of 106.60 cents.
At the last closing share price the estimated dividend yield is 8.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.04.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 111.7, implying annual growth of 4.2%.
Current consensus DPS estimate is 85.6, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 12.4.

Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

WTC    WISETECH GLOBAL LIMITED

Cloud services – Overnight Price: $68.45

Goldman Sachs rates ((WTC)) as Neutral (3) –

In a conference briefing, WiseTech Global envisages an opportunity for its global customs product amid little competition. The company expects this could be at least the size of core freight forwarding as it is the only operator pursuing a global customs product suite.

Goldman Sachs observes the company expects longer-term EBITDA margins to return to more than 50% by FY26 and does not envisage any structural reasons why it cannot continue to achieve the historical organic growth rate in CargoWise of more than 30%.

The broker retains a Neutral rating and $75 target.

This report was published on September 6, 2023.

Target price is $75.00 Current Price is $68.45 Difference: $6.55
If WTC meets the Goldman Sachs target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $79.53, suggesting upside of 17.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY24:

Goldman Sachs forecasts a full year FY24 dividend of 15.00 cents and EPS of 76.00 cents.
At the last closing share price the estimated dividend yield is 0.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 90.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 82.8, implying annual growth of 27.8%.
Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 0.2%.
Current consensus EPS estimate suggests the PER is 82.1.

Forecast for FY25:

Goldman Sachs forecasts a full year FY25 dividend of 22.00 cents and EPS of 108.00 cents.
At the last closing share price the estimated dividend yield is 0.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 63.38.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 106.7, implying annual growth of 28.9%.
Current consensus DPS estimate is 20.5, implying a prospective dividend yield of 0.3%.
Current consensus EPS estimate suggests the PER is 63.7.

Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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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 experienced, 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.

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