article 3 months old

Australian Broker Call *Extra* Edition – Nov 26, 2021

Daily Market Reports | Nov 26 2021

This story features DOMINO'S PIZZA ENTERPRISES LIMITED, and other companies. For more info SHARE ANALYSIS: DMP

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)

DMP   EHL   ELO   GTK   IPH   LOV   LTR   LYL   MND   MNY   MYX   PPH   SGM   WPR  

DMP    DOMINO'S PIZZA ENTERPRISES LIMITED

Food, Beverages & Tobacco – Overnight Price: $125.78

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

Domino's Pizza has underperformed the index by -11% since its AGM, which reported weakness in Japan post-covid and no new M&A, leading to overvaluation assumptions. Jarden has since taken a closer look.

The broker finds that while Japan's one-year trend has been soft, the two-year trend shows improvement. More recent comments suggest further M&A may be imminent, and the broker can identify several opportunities.

Looking at enterprise value and return on capital invested, Jarden does not see the stock as expensive and retains Overweight. The issue is nonetheless confused by an unchanged target of $113, which is well below the current trading price.

This report was published on November 23, 2021.

Target price is $113.00 Current Price is $125.78 Difference: minus $12.78 (current price is over target).
If DMP meets the Jarden target it will return approximately minus 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $127.88, suggesting upside of 0.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 EPS of 235.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 53.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 232.5, implying annual growth of 9.3%.
Current consensus DPS estimate is 186.1, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 54.6.

Forecast for FY23:

Jarden forecasts a full year FY23 EPS of 296.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 42.49.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 287.9, implying annual growth of 23.8%.
Current consensus DPS estimate is 231.6, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 44.1.

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

EHL    EMECO HOLDINGS LIMITED

Mining Sector Contracting – Overnight Price: $1.02

Bell Potter rates ((EHL)) as Buy (1) –

Emeco Holdings has reiterated its outlook for FY22, which Bell Potter notes guides to a marginally softer-than-expected first half outlook but strong growth across all segments in the second half. 

The broker explains tight WA labour markets and slow recovery in east coast rentals are driving the first half outlook. Positively, expect rental utilisation rates to approach pre-covid levels exiting FY22 and potential rental rate increases in 2022, offering forecast upside. 

The Buy rating and target price of $1.55 are retained. 

This report was published on November 19, 2021.

Target price is $1.55 Current Price is $1.02 Difference: $0.53
If EHL meets the Bell Potter target it will return approximately 52% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 4.60 cents and EPS of 14.60 cents.
At the last closing share price the estimated dividend yield is 4.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.99.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 5.40 cents and EPS of 16.80 cents.
At the last closing share price the estimated dividend yield is 5.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.07.

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

ELO    ELMO SOFTWARE LIMITED

Jobs & Skilled Labour Services – Overnight Price: $5.53

Wilsons rates ((ELO)) as Underweight (5) –

An update from Elmo Software highlighted a additional $20m in liquidity, a combinationf of extended debt facility and Webexpense opting into scrip, but Wilsons estimates headroom equates to a year before cash balance is depleted given a potential $30m free cash flow loss in FY22 and FY23.

More positively, an increase in the Webexpenses earnout grew to $9m from $7.6m, suggesting improved trading in the UK market, which Wilsons expects is 2-3 months ahead of Australia, allowing potential for a background of economic stability in Australia in the second half. 

The Underweight rating is retained and the target price increases to $4.64 from $4.33.

This report was published on November 18, 2021.

Target price is $4.64 Current Price is $5.53 Difference: minus $0.89 (current price is over target).
If ELO meets the Wilsons target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 37.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 14.87.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 30.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.43.

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

GTK    GENTRACK GROUP LIMITED

Software & Services – Overnight Price: $1.82

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

The UK energy crisis has resulted in the toughest conditions the market has ever seen, Shaw & Partners notes, so far leading to the failure of 21 energy companies in 2021. But Gentrack Group may have seen some positives.

The broker is watching closely to see if any more of Gentrack's customers go under, but one customer, Shell, has been acting as supplier of the last resort, and a recent trading update suggested 10% revenue growth in FY22.

There is an ongoing risk of failures, but Shaw believes this is priced in. Hence on valuation, the broker retains Buy (High Risk) and a $3.35 target.

This report was published on November 23, 2021.

Target price is $3.35 Current Price is $1.82 Difference: $1.53
If GTK meets the Shaw and Partners target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in September.

Forecast for FY21:

Shaw and Partners forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 121.09.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 8.17 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 22.27.

This company reports in NZD. 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

IPH    IPH LIMITED

Legal – Overnight Price: $8.97

Bell Potter rates ((IPH)) as Buy (1) –

IPH's strong growth in Asia has continued in FY22 to-date, with Bell Potter noting patent filings are up 23.1% in Singapore and 20.2% in the rest of Asia which should benefit underlying earnings. 

Like-for-like underlying earnings in Australia and New Zealand remain steady, and notably the Shelston IP/ Spruson and Ferguson Australia integration is expected to provide $2.0-2.5m in synergies per annum, and $1.0-1.5m in underlying earnings savings in FY22.

The Buy rating is retained and the target price increases to $10.35 from $9.90.

This report was published on November 19, 2021.

Target price is $10.35 Current Price is $8.97 Difference: $1.38
If IPH meets the Bell Potter target it will return approximately 15% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 29.80 cents and EPS of 38.00 cents.
At the last closing share price the estimated dividend yield is 3.32%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.61.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 32.60 cents and EPS of 41.80 cents.
At the last closing share price the estimated dividend yield is 3.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.46.

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

LOV    LOVISA HOLDINGS LIMITED

Retailing – Overnight Price: $20.80

Bell Potter rates ((LOV)) as Hold (3) –

Lovisa Holdings' AGM reveled the retailer is navigating well in disruptive market, Bell Potter suggests, with sales year to date remaining strong. Store rollouts are also progressing well under the circumstances.

With net cash at hand, the broker believes Lovisa is well positioned to navigate the pandemic, and believes tailwinds are emerging with respect to site availability and rent, which bodes well for the company’s long-term growth prospects.

Target rises to $21.30 from $19.90, Hold retained on valuation.

This report was published on November 22, 2021.

Target price is $21.30 Current Price is $20.80 Difference: $0.5
If LOV meets the Bell Potter target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $22.64, suggesting upside of 9.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 32.10 cents and EPS of 40.10 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 51.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 42.7, implying annual growth of 84.8%.
Current consensus DPS estimate is 35.8, implying a prospective dividend yield of 1.7%.
Current consensus EPS estimate suggests the PER is 48.4.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 34.20 cents and EPS of 49.60 cents.
At the last closing share price the estimated dividend yield is 1.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 41.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.0, implying annual growth of 42.9%.
Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 33.9.

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

LTR    LIONTOWN RESOURCES LIMITED

New Battery Elements – Overnight Price: $1.88

Bell Potter rates ((LTR)) as Speculative Buy (1) –

Following more than two years of negotiations, Liontown Resources and the Tijwarl Native Title Holders have signed a Native Title Agreement to facilitate the development of the Kathleen Valley lithium project. 

The Agreement defines a pathway for ongoing engagement with the Tijwarl and increases confidence in Liontown Resources' sustainability focus following criticism of its ESG credentials.

The project sits on four granted mining licenses and one further application, with a globally significant production target of 75,000 tonnes per annum lithium carbonate equivalent. The company is aiming for construction to commence late 2022, with first production in early 2024.

The Speculative Buy rating and target price of $2.15 are retained. 

This report was published on November 19, 2021.

Target price is $2.15 Current Price is $1.88 Difference: $0.27
If LTR meets the Bell Potter target it will return approximately 14% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 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 470.00.

Forecast for FY23:

Bell Potter 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 235.00.

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

LYL    LYCOPODIUM LIMITED

Mining Sector Contracting – Overnight Price: $5.44

Bell Potter rates ((LYL)) as Buy (1) –

Driven by a buoyant resources market and strong demand for battery materials, Lycopodium is guiding to FY22 revenue of around $250m, with profit after tax of $19-20m, a beat on the company's previous revenue high in FY13 as noted by Bell Potter.

Further supporting guidance is a number of recent contract wins that position the company to benefit from demand tailwinds. Earnings per share forecasts increase 26.1%, 15.8% and 20.5% through to FY24.

The Buy rating is retained and the target price increases to $6.85 from $6.30.

This report was first published on November 19, 2021.

Target price is $6.85 Current Price is $5.44 Difference: $1.41
If LYL meets the Bell Potter target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 34.00 cents and EPS of 48.70 cents.
At the last closing share price the estimated dividend yield is 6.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.17.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 38.00 cents and EPS of 54.00 cents.
At the last closing share price the estimated dividend yield is 6.99%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.07.

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

MND    MONADELPHOUS GROUP LIMITED

Mining Sector Contracting – Overnight Price: $9.24

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

Monadelphous has suggested first half FY22 revenues will be similar to a year ago, which implies a number above market consensus but below Jarden's forecast.

Despite commentary at the AGM that the iron ore industry remains 'buoyant', the broker expects the company's earnings mix to shift towards Maintenance & Industrial, which is set to grow consistently going forward.

Sustained labour issues will nevertheless impact on margins. Overweight and $11.80 target retained. 

This report was published on November 23, 2021.

Target price is $11.80 Current Price is $9.24 Difference: $2.56
If MND meets the Jarden target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $10.96, suggesting upside of 19.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 49.90 cents and EPS of 58.30 cents.
At the last closing share price the estimated dividend yield is 5.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.85.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 47.6, implying annual growth of -4.2%.
Current consensus DPS estimate is 40.1, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 19.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 63.30 cents and EPS of 73.30 cents.
At the last closing share price the estimated dividend yield is 6.85%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.61.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 61.5, implying annual growth of 29.2%.
Current consensus DPS estimate is 52.8, implying a prospective dividend yield of 5.8%.
Current consensus EPS estimate suggests the PER is 14.9.

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

MNY    MONEY3 CORPORATION LIMITED

Business & Consumer Credit – Overnight Price: $3.26

Bell Potter rates ((MNY)) as Buy (1) –

Bell Potter reports continued momentum for Money3 Corporation, with the company delivering  34.9% year-on-year revenue growth in the first quarter and 57.8% year-on-year loan originations. 

High vehicle demand drove auto loan book growth, benefiting group origination growth, and Bell Potter expects this trend will accelerate into the second quarter of FY22

Given strong first quarter metrics the company has guided to full-year profit after tax of $50m, around 5% higher than Bell Potter's previous forecast. Revenue and profit assumptions are raised, and earnings per share forecasts increase 4.1%, 2.5% and 2.5% through to FY24. 

The Buy rating is retained and the target price increases to $4.35 from $4.15. 

This report was published on November 19, 2021.

Target price is $4.35 Current Price is $3.26 Difference: $1.09
If MNY meets the Bell Potter target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 11.40 cents and EPS of 22.50 cents.
At the last closing share price the estimated dividend yield is 3.50%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.49.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 14.50 cents and EPS of 28.60 cents.
At the last closing share price the estimated dividend yield is 4.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.40.

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

MYX    MAYNE PHARMA GROUP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.30

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

A trading update at a Mayne Pharma AGM is usually a market-moving event, Canaccord Genuity notes, but inherent market volatility in FY22 year to date has led management not to provide one this time, which the broker feels is prudent.

The products business continues to face its challenges, although contract services/international businesses appear to have started the year well.

Mayne is making progress across the key drivers necessary to achieve significant ramp-up in NEXTSELLIS  script volume in the second half, while the dermatology business is now benefiting from various pharma groups seeing Mayne as an attractive partner to distribute product.

Buy retained, target 83c.

This report was published on November 23, 2021.

Target price is $0.83 Current Price is $0.30 Difference: $0.53
If MYX meets the Canaccord Genuity target it will return approximately 177% (excluding dividends, fees and charges).
Current consensus price target is $0.31, suggesting upside of 3.3%(ex-dividends)

Forecast for FY22:

Current consensus EPS estimate is -1.1, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.

Forecast for FY23:

Current consensus EPS estimate is 1.8, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 16.7.

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

PPH    PUSHPAY HOLDINGS LIMITED

Software & Services – Overnight Price: $1.27

Jarden rates ((PPH)) as Downgrade to Overweight from Buy (2) –

Jarden has switched coverage of Pushpay Holdings to a new analyst, who downgrades to Overweight from Buy and cuts the target to NZ$1.75 from NZ$2.00 to reflect heightened investment and cost inflation.

Pushpay has established itself as a leading provider of digital solutions to the US faith sector, capturing 50% market share of digital giving within its core market, Evangelical Protestant. The large Catholic market now awaits, and Jarden notes initial feedback is promising.

This report was published on November 24, 2021.

Current Price is $1.27. Target price not assessed.
Current consensus price target is $1.90, suggesting upside of 48.4%(ex-dividends)
The company's fiscal year ends in March.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 3.97 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.96.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 5.3, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 24.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 4.77 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.4, implying annual growth of 20.8%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 20.0.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $15.05

Jarden rates ((SGM)) as Buy (1) –

Jarden has lowered its target for Sims to $18.10 from $18.60 to reflect higher working capital assumptions, retaining Buy.

Jarden maintains a positive view on the Australian steel stocks, with a preference for Sims, believing it to be a beneficiary of the decarbonisation trend in the steel industry, as electric arc furnace mills continue to increase in proportion.

Non-ferrous metal growth could offer potential upside.

This report was first published on November 24, 2021.

Target price is $18.10 Current Price is $15.05 Difference: $3.05
If SGM meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $18.32, suggesting upside of 22.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 59.40 cents and EPS of 214.00 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 7.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.9, implying annual growth of 82.2%.
Current consensus DPS estimate is 57.6, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 7.2.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 56.30 cents and EPS of 212.00 cents.
At the last closing share price the estimated dividend yield is 3.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 138.1, implying annual growth of -33.6%.
Current consensus DPS estimate is 43.6, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 10.9.

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

WPR    WAYPOINT REIT LIMITED

REITs – Overnight Price: $2.70

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

Following Waypoint Reit's recently completed $150m capital management plan, the new $50m buy-back program and share consolidation, JP Morgan lowers its target to $3.30 from $3.40. This is largely stems from higher interest expenses following the $130m capital return.

The Overweight rating is maintained.

This report was published on November 24, 2021.

Target price is $3.30 Current Price is $2.70 Difference: $0.6
If WPR meets the JP Morgan target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $2.87, suggesting upside of 6.2%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY21:

JP Morgan forecasts a full year FY21 dividend of 16.70 cents and EPS of 16.70 cents.
At the last closing share price the estimated dividend yield is 6.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.9, implying annual growth of -58.3%.
Current consensus DPS estimate is 15.8, implying a prospective dividend yield of 5.9%.
Current consensus EPS estimate suggests the PER is 17.0.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 16.90 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 6.26%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.88.

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 6.0%.
Current consensus EPS estimate suggests the PER is 16.8.

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


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.

Decisions about inclusions in this Report are made independently of the providers of stock market research and at full discretion of the team of journalists responsible for content at FNArena. Inclusion does not equal endorsement, in any way, shape or form. This Report is provided for informational purposes only.

Share on FacebookTweet about this on TwitterShare on LinkedIn

Click to view our Glossary of Financial Terms

CHARTS

DMP EHL ELO GTK IPH LOV LTR LYL MND MNY MYX PPH SGM WPR

For more info SHARE ANALYSIS: DMP - DOMINO'S PIZZA ENTERPRISES LIMITED

For more info SHARE ANALYSIS: EHL - EMECO HOLDINGS LIMITED

For more info SHARE ANALYSIS: ELO - ELMO SOFTWARE LIMITED

For more info SHARE ANALYSIS: GTK - GENTRACK GROUP LIMITED

For more info SHARE ANALYSIS: IPH - IPH LIMITED

For more info SHARE ANALYSIS: LOV - LOVISA HOLDINGS LIMITED

For more info SHARE ANALYSIS: LTR - LIONTOWN RESOURCES LIMITED

For more info SHARE ANALYSIS: LYL - LYCOPODIUM LIMITED

For more info SHARE ANALYSIS: MND - MONADELPHOUS GROUP LIMITED

For more info SHARE ANALYSIS: MNY - MONEY3 CORPORATION LIMITED

For more info SHARE ANALYSIS: MYX - MAYNE PHARMA GROUP LIMITED

For more info SHARE ANALYSIS: PPH - PUSHPAY HOLDINGS LIMITED

For more info SHARE ANALYSIS: SGM - SIMS LIMITED

For more info SHARE ANALYSIS: WPR - WAYPOINT REIT LIMITED