Australian Broker Call *Extra* Edition – Oct 04, 2021

This story features ALTIUM, and other companies. For more info SHARE ANALYSIS: ALU

An additional news report on the recommendation, valuation, forecast and opinion changes 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)

ALU   ASG (2)   AVA   BEX   CAA   CDA   CLX   CWN   DSK   EGG   EOS   FMG   HLA   HLO   HLS (2)   IGO   JYC   LBL   LDX   MTO   NXS   PAN   PBH   PDN   PWR   QUB   RCL   SHJ   SHV   TPW (2)   VMT   WPR  

ALU    ALTIUM

Hardware & Equipment – Overnight Price: $34.73

Jarden rates ((ALU)) as Underweight (2) –

FY21 results were softer than guidance at the revenue and earnings levels. Jarden lowers lapse rate estimates to account for the adoption of cloud subscribers, which are expected to have less churn.

Pricing forecasts are lifted to account for the removal of discounting. While there is a long record of profitability Jarden believes there are limits to long-term growth for Altium compared with peers.

The broker envisages the core PCB market size at $1.5bn and the company is nearing full penetration rates.

Jarden retains its Underweight rating and raises the target to $27 from $23.

This report was published on August 30, 2021.

Target price is $27.00 Current Price is $34.73 Difference: minus $7.73 (current price is over target).
If ALU meets the Jarden target it will return approximately minus 22% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $31.50, suggesting downside of -9.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 42.68 cents and EPS of 50.25 cents.
At the last closing share price the estimated dividend yield is 1.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 69.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.9, implying annual growth of N/A.
Current consensus DPS estimate is 50.1, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 69.5.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 51.98 cents and EPS of 61.15 cents.
At the last closing share price the estimated dividend yield is 1.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.79.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 59.2, implying annual growth of 18.6%.
Current consensus DPS estimate is 54.5, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 58.5.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ASG    AUTOSPORTS GROUP LIMITED

Automobiles & Components – Overnight Price: $2.50

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

FY21 benefitted from demand coinciding with strong margins as a result of supply constraints. Gross profit was up 27.5%. Going forward, Jarden notes the order book is robust and gross profit per vehicle is still growing.

Current lockdowns will impact trading yet demand remains resilient and deliveries are only delayed. So after a subdued month in September the broker suspects investors will look to buy the re-opening.

Overweight maintained. Target is raised to $3.15 from $3.05. This report was published on August 30, 2021.

Target price is $3.15 Current Price is $2.50 Difference: $0.65
If ASG meets the Jarden target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 13.70 cents and EPS of 22.90 cents.
At the last closing share price the estimated dividend yield is 5.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.92.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 12.20 cents and EPS of 20.30 cents.
At the last closing share price the estimated dividend yield is 4.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.32.

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 ((ASG)) as Overweight (1) –

Driven by forecast earnings upgrades after FY21 results, Wilsons lifts its target price to $3.33 from $3.09. The Overweight rating is unchanged. 

For more detail, refer to the FNArena summary of the August 30, 2021 research report from Wilsons .

This report was published on August 31,2021.

Target price is $3.33 Current Price is $2.50 Difference: $0.83
If ASG meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 13.70 cents and EPS of 27.30 cents.
At the last closing share price the estimated dividend yield is 5.48%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.16.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 11.40 cents and EPS of 22.90 cents.
At the last closing share price the estimated dividend yield is 4.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.92.

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

AVA    AVA RISK GROUP LIMITED

Hardware & Equipment – Overnight Price: $0.48

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

FY21 results revealed revenue was up 41% and operating earnings (EBITDA) up 116%. Revenue was in line with recently provided guidance.

The main note of interest for Canaccord Genuity was the accompanying update on capital management, which will mean a total of $40.2m is returned to shareholders via a $39.2m special dividend and $1m on-market buyback.

This stems from the recent divestments of the services division which means the company is now a pure technology offering in data analytics for critical assets.

No specific FY22 guidance was provided. Buy rating retained. Target rises to $0.60 from $0.58.

The report was published on August 31, 2021.

Target price is $0.60 Current Price is $0.48 Difference: $0.12
If AVA meets the Canaccord Genuity target it will return approximately 25% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 1.20 cents and EPS of 3.10 cents.
At the last closing share price the estimated dividend yield is 2.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.48.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 1.50 cents and EPS of 3.20 cents.
At the last closing share price the estimated dividend yield is 3.13%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.00.

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

BEX    BIKEEXCHANGE LIMITED

Sports & Recreation – Overnight Price: $0.18

Shaw and Partners rates ((BEX)) as Buy (1) –

BikeExchange has released FY21 results, highlighting underlying earnings of $5.9m and revenue of $5.6m, up 50% on FY20 results. Shaw and Partners notes the company continues to invest in growth, including increased marketing spend.

The company has had a strong start to FY22, and the broker is forecasting a 55% revenue increase for the year. Shaw and Partners expects likely acquisitive growth in FY22, and a move towards a more ecommerce focused business.

The Buy rating and target price of $0.33 are retained. 

This report was published on August 30, 2021.

Target price is $0.33 Current Price is $0.18 Difference: $0.15
If BEX meets the Shaw and Partners target it will return approximately 83% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.59.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.36.

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

CAA    CAPRAL LIMITED

Aluminium, Bauxite & Alumina – Overnight Price: $7.80

Taylor Collison rates ((CAA)) as Outperform (2) –

Taylor Collison notes the tailwinds driving Capral's strong results, including record industrial volumes and strong residential housing demand, are unlikely to subside in the near-term, as the company reported it's best first half results in 20 years. 

The company reported underlying earnings of $15.7m in the first half, and Capral has upgraded full year guidance again to $31-33m. The broker expects this guidance range to prove conservative.

The Outperform rating is retained and no price target has been provided.

This report was published on August 26, 2021.

Current Price is $7.80. Target price not assessed.
The company's fiscal year ends in December.

Forecast for FY21:

Taylor Collison forecasts a full year FY21 dividend of 70.00 cents and EPS of 183.50 cents.
At the last closing share price the estimated dividend yield is 8.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.25.

Forecast for FY22:

Taylor Collison forecasts a full year FY22 dividend of 70.00 cents and EPS of 209.50 cents.
At the last closing share price the estimated dividend yield is 8.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.72.

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

CDA    CODAN LIMITED

Hardware & Equipment – Overnight Price: $12.45

Moelis rates ((CDA)) as Upgrade to Buy from Hold (1) –

Moelis believes the relatively flat organic growth outlook suggested for FY22 at the FY21 results is priced in and points out Codan has a five-year track record of beating its conservative outlook.

The broker estimates at least $5m in organic earnings is achievable largely because of incremental sales from the new GPX6000 gold detector.

Moreover, the company holds a dominant global market position in metal detection and has defensible IP amid modest competition.

The broker acknowledges the impact of CEO Donald McGurk's retirement but believes the business is now in its strongest-ever position in terms of product and distribution. Rating is upgraded to Buy from Hold with the target steady at $17.12.

This report was published on September 29, 2021.

Target price is $17.12 Current Price is $12.45 Difference: $4.67
If CDA meets the Moelis target it will return approximately 38% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 34.60 cents and EPS of 62.70 cents.
At the last closing share price the estimated dividend yield is 2.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.86.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 38.80 cents and EPS of 70.50 cents.
At the last closing share price the estimated dividend yield is 3.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.66.

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

CLX    CTI LOGISTICS LIMITED

Transportation & Logistics – Overnight Price: $0.92

Euroz Hartleys rates ((CLX)) as Buy (2) –

Strong revenue growth occurred in transport volumes in FY21 with results ahead of expectations. The couriers and security business has experienced reductions in revenue as a result of the pandemic.

Euroz Hartleys notes positive margin improvements were partially offset by wage inflation, site relocation costs and ongoing issues with interstate linehaul services.

The business cash flow and a final 2c dividend was declared bringing the total for the year to 4c, ahead of expectations. The broker maintains a Speculative Buy rating with a target of $0.94 under review.

This report was published on August 31, 2021.

Current Price is $0.92. Target price not assessed.

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

CWN    CROWN RESORTS LIMITED

Gaming – Overnight Price: $9.30

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

FY21 results were "messy", Goldman Sachs asserts while broadly in line at the revenue level. A better earnings performance was boosted by profit on the disposal of apartments.

The broker notes the company is no longer in discussions with Oaktree regarding the revised proposal.

The final report from the Victorian Royal Commission is expected by October 15 and the Perth Casino Royal Commission by March 4 2022. Goldman Sachs retains a Neutral rating and $10.35 target.

This report was published on August 30, 2021.

Target price is $10.35 Current Price is $9.30 Difference: $1.05
If CWN meets the Goldman Sachs target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $11.93, suggesting upside of 26.3%(ex-dividends)

Forecast for FY22:

Current consensus EPS estimate is -7.4, implying annual growth of N/A.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Current consensus EPS estimate is 41.6, implying annual growth of N/A.
Current consensus DPS estimate is 47.2, implying a prospective dividend yield of 5.0%.
Current consensus EPS estimate suggests the PER is 22.7.

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

DSK    DUSK GROUP LIMITED

Household & Personal Products – Overnight Price: $3.10

Shaw and Partners rates ((DSK)) as Buy (1) –

Dusk Group's FY21 sales of $148.6m implied 47% growth on the previous year, but a slight miss on Shaw and Partners' forecast and at the bottom end of the company's guidance range.

The broker notes the company has seen an -11% decrease in like-for-like sales in FY22, but isn't concerned given results are cycling off strong sales driven by covid in FY21. It is the broker's view Dusk Group is ideally positioned for long-term growth.

The Buy rating is retained and the target price increases to $3.80 from $3.60.

This report was published on August 30, 2021.

Target price is $3.80 Current Price is $3.10 Difference: $0.7
If DSK meets the Shaw and Partners target it will return approximately 23% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 26.00 cents and EPS of 44.00 cents.
At the last closing share price the estimated dividend yield is 8.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.05.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 30.00 cents and EPS of 52.20 cents.
At the last closing share price the estimated dividend yield is 9.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.94.

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

EGG    ENERO GROUP LIMITED

Media – Overnight Price: $3.02

Taylor Collison rates ((EGG)) as Outperform (2) –

Despite industry challenges in marketing services, strategy focused on high growth tech and healthcare companies has allowed Enero Group to buck the trend and grow margins in FY21. Taylor Collison notes momentum looks likely to continue into the next year. 

The broker also highlights OB Media as a key driver of results. The business increased its underlying earnings to $26.3m, from $7.4m in FY20, and contributed 41% of Enero Group's total underlying earnings. 

The Outperform rating is retained and no target price has been provided.

This report was published on August 23, 2021.

Current Price is $3.02. Target price not assessed.
The company's fiscal year ends in June.

Forecast for FY22:

Taylor Collison forecasts a full year FY22 dividend of 12.00 cents and EPS of 26.50 cents.
At the last closing share price the estimated dividend yield is 3.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.40.

Forecast for FY23:

Taylor Collison forecasts a full year FY23 dividend of 12.00 cents and EPS of 29.00 cents.
At the last closing share price the estimated dividend yield is 3.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.41.

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

EOS    ELECTRO OPTIC SYSTEMS HOLDINGS LIMITED

Hardware & Equipment – Overnight Price: $3.45

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

First half results were challenged by the pandemic as restrictions slowed customer decision-making. Revenue was up 30% and in line with the guidance run rate.

Canaccord Genuity notes an un-risked pipeline of $16.8bn, with US$5.5bn in orders expected to be awarded in the next 18 months

 The broker points out that while opportunities have been deferred relative to expectations, they have not been cancelled.

Catalysts are expected to drive the stock over the next six months and the broker retains a Speculative Buy rating. Target is reduced to $6.50 from $7.00.

This report was published on August 31, 2021.

Target price is $6.50 Current Price is $3.45 Difference: $3.05
If EOS meets the Canaccord Genuity target it will return approximately 88% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Canaccord Genuity forecasts a full year FY21 dividend of 0.00 cents and EPS of 11.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.36.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 16.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.56.

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

FMG    FORTESCUE METALS GROUP LIMITED

Iron Ore – Overnight Price: $14.57

Goldman Sachs rates ((FMG)) as Sell (5) –

FY21 earnings and net profit were broadly in line with Goldman Sachs estimates. While the company continues to target 10% allocation of net profit to Fortescue Future Industries, Goldman Sachs is still awaiting further details on these projects.

This leads to some uncertainties in the outlook and the broker retains a Sell rating with a $19.90 target.

This report was published on August 30, 2021.

Target price is $19.90 Current Price is $14.57 Difference: $5.33
If FMG meets the Goldman Sachs target it will return approximately 37% (excluding dividends, fees and charges).
Current consensus price target is $18.88, suggesting upside of 27.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 358.95 cents and EPS of 449.35 cents.
At the last closing share price the estimated dividend yield is 24.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.24.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 371.1, implying annual growth of N/A.
Current consensus DPS estimate is 332.8, implying a prospective dividend yield of 22.5%.
Current consensus EPS estimate suggests the PER is 4.0.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 199.42 cents and EPS of 307.10 cents.
At the last closing share price the estimated dividend yield is 13.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 216.4, implying annual growth of -41.7%.
Current consensus DPS estimate is 187.5, implying a prospective dividend yield of 12.7%.
Current consensus EPS estimate suggests the PER is 6.8.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

HLA    HEALTHIA LIMITED

Healthcare services – Overnight Price: $1.81

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

FY21 underlying earnings was in line with expectations. The results were driven by a combination of acquisition growth and like-for-like sales growth of 9.1%.

The company has maintained its target of deploying $20m in capital per annum on acquisitions. Canaccord Genuity makes negligible changes to estimates and retains a Buy rating. Target is raised to $2.20 from $2.10.

The report was published on August 31, 2021.

Target price is $2.20 Current Price is $1.81 Difference: $0.39
If HLA meets the Canaccord Genuity target it will return approximately 22% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 6.00 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 3.31%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.31.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 7.00 cents and EPS of 17.10 cents.
At the last closing share price the estimated dividend yield is 3.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.58.

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

HLO    HELLOWORLD TRAVEL LIMITED

Travel, Leisure & Tourism – Overnight Price: $2.70

JP Morgan rates ((HLO)) as Overweight (1) –

JP Morgan anticipates a  near-term relaxation of A&NZ travel restrictions and sees Helloworld Travel benefiting from the release of pent-up demand and increased travel complexity. FY21 results were a 15% and 7% beat versus the broker and consensus estimates.

While the company is thought to have 18 months of liquidity to last into 2023, the broker notes low cash burn (-$2-3m per month) has been achieved by furloughing staff. Adjusting for this, management disclosed cash burn was closer to -$8m per month.

Management pointed out that Australians and New Zealanders are already permitted to enter a growing list of countries around the world without quarantine. The Overweight rating and $2.20 target price are unchanged.

This report was published on September 1, 2021.

Target price is $2.20 Current Price is $2.70 Difference: minus $0.5 (current price is over target).
If HLO meets the JP Morgan target it will return approximately minus 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 8.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 33.75.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of 29.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.31.

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

HLS    HEALIUS LIMITED

Healthcare services – Overnight Price: $4.72

Goldman Sachs rates ((HLS)) as Downgrade to Neutral from Buy (3) –

Healius is growing amid highly challenging conditions yet Goldman Sachs believes the current momentum is no longer sufficient to generate any positive surprises.

Moreover, the imaging business is held back by lockdowns and lags peers. Any outperformance is now contingent on continued cost optimisation and accretive capital deployment. As a result the broker downgrades to Neutral from Buy. Target is $4.90.

This report was published on August 31, 2021.

Target price is $4.90 Current Price is $4.72 Difference: $0.18
If HLS meets the Goldman Sachs target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $5.14, suggesting upside of 8.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 14.00 cents and EPS of 25.00 cents.
At the last closing share price the estimated dividend yield is 2.97%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.6, implying annual growth of 311.9%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 13.7.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 11.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 2.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.6, implying annual growth of -28.9%.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 19.3.

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

FY21 results disappointed Jarden although the earnings margin was better than estimated. The broker assesses, ultimately, the company will cycle some substantial testing numbers from the pandemic and will need to establish new base earnings.

Moreover, any risk to the upside needs to be viewed in the context of increasing vaccination rates in Australia. Jarden maintains an Overweight rating, given recent share price weakness, and reduces the target to $5.01 from $5.15.

This report was published on August 30, 2021.

Target price is $5.01 Current Price is $4.72 Difference: $0.29
If HLS meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $5.14, suggesting upside of 8.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 19.80 cents and EPS of 26.90 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.55.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 34.6, implying annual growth of 311.9%.
Current consensus DPS estimate is 17.1, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 13.7.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 11.80 cents and EPS of 19.50 cents.
At the last closing share price the estimated dividend yield is 2.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 24.6, implying annual growth of -28.9%.
Current consensus DPS estimate is 14.4, implying a prospective dividend yield of 3.0%.
Current consensus EPS estimate suggests the PER is 19.3.

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

IGO    IGO LIMITED

Nickel – Overnight Price: $8.60

JP Morgan rates ((IGO)) as Overweight (1) –

While the final dividend of 10cps was a slight beat versus the 7cps expected by JP Morgan, FY 21 results were largely pre-reported. The broker maintains its $12 target price.

The Overweight rating is maintained based on high production growth potential, balance sheet strength and exposure to buoyant lithium markets, explains the analyst. The company has the highest production and earnings growth within JP Morgan's resources coverage.

This report was published on September 1, 2021.

Target price is $12.00 Current Price is $8.60 Difference: $3.4
If IGO meets the JP Morgan target it will return approximately 40% (excluding dividends, fees and charges).
Current consensus price target is $7.89, suggesting downside of -9.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 11.00 cents and EPS of 32.00 cents.
At the last closing share price the estimated dividend yield is 1.28%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.88.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 33.4, implying annual growth of -53.9%.
Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 26.0.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 28.00 cents and EPS of 61.00 cents.
At the last closing share price the estimated dividend yield is 3.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 38.0, implying annual growth of 13.8%.
Current consensus DPS estimate is 22.6, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 22.9.

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

JYC    JOYCE CORPORATION LIMITED

Furniture & Renovation – Overnight Price: $3.25

Euroz Hartleys rates ((JYC)) as Buy (2) –

FY21 results were ahead of Euroz Hartleys' expectations. The company intends to continue expanding its franchise network, establishing a presence in NSW in addition to evaluating other states and locations.

Beyond this, the business will continue to leverage online sales through a new e-commerce platform. The broker suggests, if Joyce Corp can meet forecasts on its current portfolio, a re-rating is possible.

Euroz Hartleys retains a Speculative Buy rating with the $3.15 target under review.

This report was published on August 31, 2021.

Current Price is $3.25. Target price not assessed.

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

LBL    LASERBOND LIMITED

Mining Sector Contracting – Overnight Price: $0.95

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

LaserBond remains committed to its $40m revenue objective in FY22 but now expects acquisitions will make a contribution.

Canaccord Genuity observes the services segment could benefit from an acquisition, particularly one that may bring the business closer to customers in resource-rich Queensland and Western Australia.

The broker notes the business has not benefited from the pandemic although double-digit revenue growth was impressive in FY21.

FY22 revenue forecasts are lowered yet the broker points out margins were better than expected and this is reflected in operating earnings estimates which are largely unchanged. Buy rating retained. Target rises to $1.25 from $0.80.

This report was published on August 30, 2021.

Target price is $1.25 Current Price is $0.95 Difference: $0.3
If LBL meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 1.30 cents and EPS of 4.40 cents.
At the last closing share price the estimated dividend yield is 1.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.59.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 1.50 cents and EPS of 5.60 cents.
At the last closing share price the estimated dividend yield is 1.58%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.96.

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

LDX    LUMOS DIAGNOSTICS HOLDINGS LIMITED

Medical Equipment & Devices – Overnight Price: $0.87

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

Wilsons maintains its Overweight rating and $1.52 target price following FY21 results from Lumos Diagnostics Holdings. Covid-demand for Contract Services and point-of-care (POC) diagnostic tests grew rapidly year-on-year, points out the analyst.

Revenue was 5% ahead of prospectus forecast with the earnings (EBITDA) loss also -6% less than expectations. The broker notes Services outperformed versus prospectus expectations and continues to be the fundamental revenue generator for the company.

Wilsons makes no changes to forecasts, noting FY22 expectations are flat/below FY21 owing to reduced forecast covid-driven demand for both FebriDx and contract services.

This report was published on August 31, 2021.

Target price is $1.52 Current Price is $0.87 Difference: $0.65
If LDX meets the Wilsons target it will return approximately 75% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 16.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.34.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 10.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.98.

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

MTO    MOTORCYCLE HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $3.00

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

The FY21 results for Motorcycle Holdings were broadly in-line with guidance and Wilsons forecasts, though clarification will be sought on a -$2.2m asset impairment included in the underlying result. The final dividend of 10cps was above the forecast for 8.5cps.

Management noted demand remains strong in locations with no restrictions and a strong cash position will limit the impact of extended lockdowns. It's thought demand has stabilised at higher levels than 2019 and is sustainable. Also, acquisitions are being contemplated.

The broker maintains its Market-weight rating and $2.73 target price.

This report was published on August 31, 2021.

Target price is $2.73 Current Price is $3.00 Difference: minus $0.27 (current price is over target).
If MTO meets the Wilsons target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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

NXS    NEXT SCIENCE LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.30

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

First half results beat expectations. Canaccord Genuity was mostly interested in the recently launched Xperience product and the company did not disappoint, with significant growth across key metrics.

The main issue for the broker is how quickly approvals can turn into usage for the remainder of 2021. There will need to be a significant increase in surgeon usage to reach the broker's 2021 estimate of US$10.5m in sales.

Canaccord Genuity retains a Buy rating with a $3.83 target.

The report was published on August 31, 2021.

Target price is $3.83 Current Price is $1.30 Difference: $2.53
If NXS meets the Canaccord Genuity target it will return approximately 195% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Canaccord Genuity forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 108.70.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 6.91 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.81.

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

PAN    PANORAMIC RESOURCES LIMITED

Nickel – Overnight Price: $0.21

Euroz Hartleys rates ((PAN)) as Speculative Buy (2) –

Euroz Hartleys found no surprises in the FY21 results. Production is expected to re-start at Savannah nickel operations with first output by the end of 2021.

The broker considers the conservative ramp-up profile provides good upside potential. Speculative Buy retained with a $0.22 target.

This report was published on August 31, 2021.

Target price is $0.22 Current Price is $0.21 Difference: $0.01
If PAN meets the Euroz Hartleys target it will return approximately 5% (excluding dividends, fees and charges).

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

PBH    POINTSBET HOLDINGS LIMITED

Gaming – Overnight Price: $9.82

JP Morgan rates ((PBH)) as Upgrade to Neutral from Underweight (3) –

JP Morgan upgrades its rating to Neutral from Underweight and raises its target price to $9.75 from $9.00 for PointsBet Holdings after recent share price underperformance.

While not short term catalysts, the broker sees share price support from several sources including potential for more operators than
previously thought in New York. Moreover, there's thought an opportunity from iGaming and from the launch into the Canadian market.

This report was published on September 1, 2021.

Target price is $9.75 Current Price is $9.82 Difference: minus $0.07 (current price is over target).
If PBH meets the JP Morgan target it will return approximately minus 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 51.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 19.25.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 47.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.89.

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

PDN    PALADIN ENERGY LIMITED

Uranium – Overnight Price: $0.72

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

Canaccord Genuity considers the balance sheet transformed by the $219m equity raising back in March and the business is well-placed to restart the Langer Heinrich mine as soon as appropriate price signals occur in the uranium market.

The company held US$30.7m in cash and equivalents as of June 30 2021. Removal of high-cost legacy debt also marks a major turning point, in the broker's view. Buy rating and $0.60 target retained.

The report was published on August 31, 2021.

Target price is $0.60 Current Price is $0.72 Difference: minus $0.12 (current price is over target).
If PDN meets the Canaccord Genuity target it will return approximately minus 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.33 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 54.18.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 8.11 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.88.

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

PWR    PETER WARREN AUTOMOTIVE HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $3.05

Moelis rates ((PWR)) as Buy (1) –

Peter Warren Automotive Holdings delivered a strong beat on forecasts, which Moelis notes was driven by supportive industry conditions. The company reported revenue of $1.6bn and tax after profit of $53.6m, up from $14.8m the previous year. 

The broker notes while industry conditions are expected to continue, current lockdowns could impact earnings. Despite this, the company acquired four dealerships in June and July, and Moelis sees opportunity for further acquisitive activity. 

The Buy rating is retained and the target price increases to $4.79 from $4.25.

This report was published on August 30, 2021.

Target price is $4.79 Current Price is $3.05 Difference: $1.74
If PWR meets the Moelis target it will return approximately 57% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 18.40 cents and EPS of 28.10 cents.
At the last closing share price the estimated dividend yield is 6.03%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.85.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 16.80 cents and EPS of 25.40 cents.
At the last closing share price the estimated dividend yield is 5.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.01.

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

QUB    QUBE HOLDINGS LIMITED

Transportation & Logistics – Overnight Price: $3.27

JP Morgan rates ((QUB)) as Neutral (3) –

FY21 profit was a 10% beat versus JP Morgan's forecast, driven by strong growth in the operating division and Patrick. It's thought both divisions benefited from the strength in container volumes, which are tracking well above pre-covid levels.

Looking forward, the analyst feels the ramp-up in activity of the Moorebank terminals, and the way in which Moorebank sale proceeds are deployed will be key.

The analysts lifts the FY22 EPS estimates to 10cps from 8.2cps, based on higher stabilised container freight volumes. The Neutral rating and $3.20 target price are retained.

This report was published on August 30, 2021.

Target price is $3.20 Current Price is $3.27 Difference: minus $0.07 (current price is over target).
If QUB meets the JP Morgan target it will return approximately minus 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.31, suggesting upside of 0.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 7.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 2.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 9.0, implying annual growth of 86.3%.
Current consensus DPS estimate is 6.3, implying a prospective dividend yield of 1.9%.
Current consensus EPS estimate suggests the PER is 36.6.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 7.00 cents and EPS of 10.00 cents.
At the last closing share price the estimated dividend yield is 2.14%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.70.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.3, implying annual growth of 14.4%.
Current consensus DPS estimate is 6.7, implying a prospective dividend yield of 2.0%.
Current consensus EPS estimate suggests the PER is 31.9.

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

RCL    READCLOUD LIMITED

Education & Tuition – Overnight Price: $0.24

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

The company broke even on earnings for the first time in FY21 despite flat revenues. Canaccord Genuity believes ReadCloud needs to pursue the VET business aggressively and capitalise on the operating leverage in that division.

The broker notes user numbers were resilient despite the impact of the pandemic, with the direct schools business increasing 21% and the VET-in-schools business 55%.

The broker remains confident FY22 should reflect a return to strong growth and retains a Buy rating with a $0.67 target.

The report was published on August 31, 2021.

Target price is $0.67 Current Price is $0.24 Difference: $0.43
If RCL meets the Canaccord Genuity target it will return approximately 179% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 240.00.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 34.29.

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

SHJ    SHINE JUSTICE LIMITED

Legal – Overnight Price: $1.27

Moelis rates ((SHJ)) as Buy (1) –

Shine Justice's FY21 revenue of $193.7m was a 5.8% increase on FY20 results, while underlying earnings of $56.2m were a 9.8% increase. Moelis notes the New Practice areas segment, which increased its revenue 31.0% on FY20, was a key driver of group results.

The broker notes results were partially offset by performance in Personal Injury, which was down -13.6% on the previous year results, but the company is guiding to a return to growth in the segment in FY22. 

Capturing this, earnings per share forecasts are updated 7.9%, 12.2% and 13.4% to FY24. The broker also highlighted the FY22 earnings guide of a low double digit percentage increase is a step-change from high single digit commentary in previous years. 

The Buy rating is retained and the target price increases to $1.45 from  $1.26.

This report was published on August 30, 2021.

Target price is $1.45 Current Price is $1.27 Difference: $0.18
If SHJ meets the Moelis target it will return approximately 14% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 5.60 cents and EPS of 16.60 cents.
At the last closing share price the estimated dividend yield is 4.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.65.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 6.00 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 4.72%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.09.

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

SHV    SELECT HARVESTS LIMITED

Agriculture – Overnight Price: $8.27

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

Following a trading update from Select Harvests, Wilsons retains its Overweight rating and $8.77 target price, after management reiterated its estimated FY21 crop volume of 28,250t.

In the past month, the spot almond price has risen by $0.50/kg to $7.25-7.75/kg. In US dollar terms, the spot price has now rallied circa 20% from its lows earlier in the year.

Forward sales are now 70% committed at around $6.25-6.75/kg from 65% at $6.15-6.45/kg. The company delivered positive commentary around orchard and tree health, as the new (FY22) crop progresses through pollination.

This report was published on August 31, 2021.

Target price is $8.77 Current Price is $8.27 Difference: $0.5
If SHV meets the Wilsons target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in September.

Forecast for FY21:

Wilsons forecasts a full year FY21 dividend of 3.40 cents and EPS of 8.80 cents.
At the last closing share price the estimated dividend yield is 0.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 93.98.

Forecast for FY22:

Wilsons forecasts a full year FY22 dividend of 19.30 cents and EPS of 35.10 cents.
At the last closing share price the estimated dividend yield is 2.33%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.56.

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

TPW    TEMPLE & WEBSTER GROUP LIMITED

Furniture & Renovation – Overnight Price: $12.10

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

FY21 results were largely pre-released. Attention was on the trading update to August 27, with revenue up 49% and accelerating relative to July.

Canaccord Genuity asserts a better operating environment could not exist for Temple and Webster, with the majority of the population prioritising expenditure on their homes following prolonged lockdowns and the forced closure of shops.

The broker believes the stock is a high-quality e-commerce leader that has met or exceeded expectations and retained above-trend revenue growth. Moreover, there is a capacity to generate long-term earnings margins of 15%.

The broker retains a Buy rating and raises the target to $16 from $14.

This report was published on August 30, 2021.

Target price is $16.00 Current Price is $12.10 Difference: $3.9
If TPW meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $14.78, suggesting upside of 20.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 121.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.6, implying annual growth of -34.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 160.8.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 12.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 100.83.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 40.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 114.2.

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

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Jarden rates ((TPW)) as Buy (2) –

Jarden notes revenue growth has accelerated in the first two months of FY22, while the fourth quarter of FY21 represented the first major comparable to be hurdled from the pandemic.

The broker observes activity has normalised in a relatively benign way for the company with the growth rating moderating to 26% over the fourth quarter and still very robust.

Structural and cyclical factors underpinning the business are expected to endure and Jarden retains an Overweight rating. Target is raised to $15.81 from $13.87.

This report was published on August 30, 2021.

Target price is $15.81 Current Price is $12.10 Difference: $3.71
If TPW meets the Jarden target it will return approximately 31% (excluding dividends, fees and charges).
Current consensus price target is $14.78, suggesting upside of 20.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 7.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 165.75.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.6, implying annual growth of -34.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 160.8.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 10.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 117.48.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.7, implying annual growth of 40.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 114.2.

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

VMT    VMOTO LIMITED

Automobiles & Components – Overnight Price: $0.42

Euroz Hartleys rates ((VMT)) as Buy (1) –

First half revenue and margins were stronger than expected. Management has signalled confidence strong sales revenue growth will be delivered over the remainder of 2021.

Euroz Hartleys retains a Buy rating and $0.74 target.

This report was published on August 31, 2021.

Target price is $0.74 Current Price is $0.42 Difference: $0.32
If VMT meets the Euroz Hartleys target it will return approximately 76% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY21:

Euroz Hartleys forecasts a full year FY21 dividend of 0.00 cents and EPS of 2.27 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.50.

Forecast for FY22:

Euroz Hartleys forecasts a full year FY22 dividend of 0.00 cents and EPS of 3.08 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.64.

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

WPR    WAYPOINT REIT LIMITED

REITs – Overnight Price: $2.73

Moelis rates ((WPR)) as Buy (1) –

Waypoint REIT has reported funds from operations per unit and dividends per unit of 7.81 cents for the first half of FY21, up 5.4% on the previous year's results. The company reiterated full year funds from operations guidance of 15.72 cents per unit. 

Looking ahead, the company intends to complete a distribution of $150m to shareholders in the second half, partially in the form of a buy back. Moelis notes this will negatively impact the earnings profile but should be accretive to shareholders. 

The Buy rating is retained and the target price increases to $2.88 from $2.73.

This report was published on August 30, 2021.

Target price is $2.88 Current Price is $2.73 Difference: $0.15
If WPR meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.87, suggesting upside of 4.6%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY21:

Moelis forecasts a full year FY21 dividend of 15.70 cents and EPS of 15.70 cents.
At the last closing share price the estimated dividend yield is 5.75%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.39.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.9, implying annual growth of -55.6%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 17.2.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 15.40 cents and EPS of 15.40 cents.
At the last closing share price the estimated dividend yield is 5.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.1, implying annual growth of 1.3%.
Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 17.0.

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

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Disclaimer:
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.

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.

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