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Australian Broker Call *Extra* Edition – Feb 11, 2022

Daily Market Reports | Feb 11 2022

This story features BWP TRUST, and other companies. For more info SHARE ANALYSIS: BWP

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)

BWP   CBA   CLW   CNI   DXC   ELD   IEL   MIN   MP1   NAN   OPT   TPW  

BWP    BWP TRUST

REITs – Overnight Price: $3.95

Jarden rates ((BWP)) as Sell (5) –

BWP Trust's December-half update appeared to meet the broker's forecasts, Jarden noting a continuation of net-tangible asset growth paired with drab earnings momentum.

Strong leasing momentum was offset by a normalisation of management fees and the broker says transactions suggest further growth in net tangible assets.

Jarden expects management will need to use reserves to maintain dividends but notes the balance sheet is solid.

The broker considers the company to be well placed in an environment of rising interest rates and higher inflation but believes valuations to be extended.

Target price rises 4% to $3.65. Sell rating retained.

This report was published on February 9, 2022.

Target price is $3.65 Current Price is $3.95 Difference: minus $0.3 (current price is over target).
If BWP meets the Jarden target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $3.83, suggesting downside of -0.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 18.30 cents and EPS of 17.60 cents.
At the last closing share price the estimated dividend yield is 4.63%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.0, implying annual growth of -56.1%.
Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 4.7%.
Current consensus EPS estimate suggests the PER is 21.4.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 18.40 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 4.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.07.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.8, implying annual growth of 4.4%.
Current consensus DPS estimate is 18.8, implying a prospective dividend yield of 4.9%.
Current consensus EPS estimate suggests the PER is 20.5.

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

CBA    COMMONWEALTH BANK OF AUSTRALIA

Banks – Overnight Price: $100.78

Bell Potter rates ((CBA)) as Upgrade to Buy from Hold (1) –

Commonwealth Bank has delivered an 8% beat to Bell Potter's profit from continuing operations forecast in the first half, and despite the result being driven by a benefit in loan impairment the broker notes it's another strong outcome for the bank. 

Bell Potter highlights the result was also supported by continuing volume growth in home lending, business lending and deposits, flat operating costs and reduced remediation costs, while an improving economic outlook should benefit moving forward.

Cash earnings forecasts increase 11% and 8% in FY22 and FY23 respectively. 

The rating is upgraded to Buy from Hold and the target price of $108.00 is retained.

This report was published on February 10, 2022.

Target price is $108.00 Current Price is $100.78 Difference: $7.22
If CBA meets the Bell Potter target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $91.48, suggesting downside of -7.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 387.00 cents and EPS of 563.00 cents.
At the last closing share price the estimated dividend yield is 3.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.90.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 520.1, implying annual growth of -9.5%.
Current consensus DPS estimate is 344.1, implying a prospective dividend yield of 3.5%.
Current consensus EPS estimate suggests the PER is 19.1.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 407.00 cents and EPS of 574.00 cents.
At the last closing share price the estimated dividend yield is 4.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 536.0, implying annual growth of 3.1%.
Current consensus DPS estimate is 377.3, implying a prospective dividend yield of 3.8%.
Current consensus EPS estimate suggests the PER is 18.5.

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

CLW    CHARTER HALL LONG WALE REIT

REITs – Overnight Price: $4.99

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

Following pre-released 1H results for Charter Hall Long WALE REIT, JP Morgan highlights net tangible asset (NTA) growth of 12.8%, after evaluations and cap rate compression.

The broker notes the portfolio's weighted average lease expiry (WALE) remains very long at 12.2 years, and occupancy is at 99.9%.

Management reaffirmed EPS guidance at no less than 30.5cpu, implying to the analyst at least 4.5% growth.

JP Morgan retains its Overweight rating and $5.70 target price.

This report was published on February 9, 2022.

Target price is $5.70 Current Price is $4.99 Difference: $0.71
If CLW meets the JP Morgan target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $5.51, suggesting upside of 13.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

JP Morgan forecasts a full year FY22 dividend of 30.00 cents and EPS of 31.00 cents.
At the last closing share price the estimated dividend yield is 6.01%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.0, implying annual growth of -72.7%.
Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 15.7.

Forecast for FY23:

JP Morgan forecasts a full year FY23 dividend of 31.00 cents and EPS of 31.00 cents.
At the last closing share price the estimated dividend yield is 6.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 31.5, implying annual growth of 1.6%.
Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 6.4%.
Current consensus EPS estimate suggests the PER is 15.5.

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

CNI    CENTURIA CAPITAL GROUP

Diversified Financials – Overnight Price: $3.02

Jarden rates ((CNI)) as Buy (2) –

Centuria Capital Group's December-half result proved a beat on Jarden and consensus performance-fee forecasts, and the broker considers guidance to be conservative.

Centuria's funds under management rose 16% in the half.

Jarden notes that while the balance sheet is strong now, the company may need to increase co-investments and use the balance sheet to attract capital; and the broker spies debt and development drifting into the profile.

Overall, while cautioning on capital discipline, the broker remains positive and retains an Overweight rating. Target price edges up to $3.55 from $3.45.

This report was published on February 9, 2022.

Target price is $3.55 Current Price is $3.02 Difference: $0.53
If CNI meets the Jarden target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $3.35, suggesting upside of 14.1%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 11.00 cents and EPS of 14.90 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.5, implying annual growth of -41.0%.
Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 20.3.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 11.60 cents and EPS of 16.20 cents.
At the last closing share price the estimated dividend yield is 3.84%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.64.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 15.8, implying annual growth of 9.0%.
Current consensus DPS estimate is 12.0, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 18.6.

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

DXC    DEXUS CONVENIENCE RETAIL REIT

REITs – Overnight Price: $3.56

Moelis rates ((DXC)) as Buy (1) –

Having reported first half funds from operations of 11.5 cents per unit, Dexus Convenience Retail retains its full year guidance of 23.1 cents. Net tangible asset per share grew 4.4% half on half, and Moelis continues to feel the net tangible asset is understated.

The broker expects some portfolio consolidation over the next six months is likely, but views the stock as a compelling value proposition given management commentary on initiatives to address the net tangible asset discount.

The Buy rating and target price of $4.00 are retained.

This report was published on February 8, 2022.

Target price is $4.00 Current Price is $3.56 Difference: $0.44
If DXC meets the Moelis target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 23.10 cents and EPS of 23.10 cents.
At the last closing share price the estimated dividend yield is 6.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.41.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 24.10 cents and EPS of 24.20 cents.
At the last closing share price the estimated dividend yield is 6.77%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.71.

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

ELD    ELDERS LIMITED

Agriculture – Overnight Price: $11.82

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

The seasonal tailwinds that boosted Elders in FY21 have continued to benefit the company's first quarter, with Bell Potter noting many tailwinds have operated at record levels. 

The first quarter result revealed growth in livestock and a strong start to the year for wool volumes, while agricultural chemical imports in Australia were up 9%, and the broker noted ag-chem and fertiliser flows appeared strong ahead of winter cropping. 

Looking ahead, livestock momentum appears to have slowed in January with the proxy value of sheep and lamb in particular down -15% year-on-year, while looking to later in the year the ABARES summer crop acreage forecast is up 36% year-on-year. 

The Hold rating and target price of $12.90 are retained.

This report was published on February 10, 2022.

Target price is $12.90 Current Price is $11.82 Difference: $1.08
If ELD meets the Bell Potter target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $13.63, suggesting upside of 15.8%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 42.00 cents and EPS of 75.50 cents.
At the last closing share price the estimated dividend yield is 3.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 75.6, implying annual growth of -21.1%.
Current consensus DPS estimate is 40.6, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 15.6.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 43.00 cents and EPS of 75.00 cents.
At the last closing share price the estimated dividend yield is 3.64%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.76.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 75.8, implying annual growth of 0.3%.
Current consensus DPS estimate is 40.2, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 15.5.

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

IEL    IDP EDUCATION LIMITED

Education & Tuition – Overnight Price: $31.03

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

Goldman Sachs expects IDP Education will experience a stronger second half now borders have re-opened, expecting a recovery in Australian student placements, strength in multi-destination student placements and higher than estimated synergies from its Indian operations.

The broker raises FY22 EPS estimates 6.3%, FY23 estimates 1.3%, and FY24 estimates 1.2%.

Target price rises 2.9% to $35. Buy rating retained.

This report was published on February 9, 2022.

Target price is $35.00 Current Price is $31.03 Difference: $3.97
If IEL meets the Goldman Sachs target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $36.80, suggesting upside of 26.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 22.00 cents and EPS of 37.00 cents.
At the last closing share price the estimated dividend yield is 0.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 83.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 39.1, implying annual growth of 174.0%.
Current consensus DPS estimate is 26.2, implying a prospective dividend yield of 0.9%.
Current consensus EPS estimate suggests the PER is 74.7.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 dividend of 40.00 cents and EPS of 57.00 cents.
At the last closing share price the estimated dividend yield is 1.29%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 54.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 63.8, implying annual growth of 63.2%.
Current consensus DPS estimate is 46.0, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 45.8.

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

MIN    MINERAL RESOURCES LIMITED

Iron Ore – Overnight Price: $54.62

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

Mineral Resources' December half-year result fell -141% short of Goldman Sachs estimates as iron-ore earnings tanked and shipping and trucking costs escalated.

Mining services outpaced the broker and consensus, posting solid margins of 28% and four new contracts were struck in the half.

No dividend was declared and the balance sheet moved from the black to $0.6bn in debt, taking gearing to 17%, and management raised FY22 capital expenditure guidance.

FY22 EPS forecasts fall -30%, but FY23 forecasts rise 24% to reflect higher forecast spodumene prices and mining services volume.

Goldman Sachs notes the company is trading at full valuation and at a premium to iron-ore peers and at a discount to lithium peers, and sees little room for upside. Neutral rating retained. Price target is $50.

This report was published on February 9, 2022.

Target price is $50.00 Current Price is $54.62 Difference: minus $4.62 (current price is over target).
If MIN meets the Goldman Sachs target it will return approximately minus 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $56.34, suggesting upside of 3.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 EPS of 947.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.77.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 165.6, implying annual growth of -75.4%.
Current consensus DPS estimate is 62.9, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 32.8.

Forecast for FY23:

Goldman Sachs forecasts a full year FY23 EPS of 594.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.20.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 333.5, implying annual growth of 101.4%.
Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 2.1%.
Current consensus EPS estimate suggests the PER is 16.3.

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

MP1    MEGAPORT LIMITED

Cloud services – Overnight Price: $14.65

Goldman Sachs rates ((MP1)) as Buy (1) –

Megaport’s December-half result broadly met Goldman Sachs' estimates, although margins outpaced by a decent clip.

Management guided to a strong June-half performance for Megaport Virtual Edge and the broker perceives second-half guidance to be broadly positive.

The broker upgrades gross profit forecasts, expecting an acceleration in revenue in the June half.

Buy rating retained. Target price is $19.90.

This report was published on February 9, 2022.

Target price is $19.90 Current Price is $14.65 Difference: $5.25
If MP1 meets the Goldman Sachs target it will return approximately 36% (excluding dividends, fees and charges).
Current consensus price target is $18.49, suggesting upside of 33.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Goldman Sachs forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 19.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 77.11.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -25.0, 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:

Goldman Sachs forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 10.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 146.50.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -7.0, 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.

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

NAN    NANOSONICS LIMITED

Medical Equipment & Devices – Overnight Price: $4.72

Bell Potter rates ((NAN)) as Upgrade to Hold from Sell (3) –

Nanosonics has announced the move to a direct model for its US business in a change to its partnership with GE Health. Bell Potter notes GE Health will run down inventory and make no further purchases, following which it will no longer hold Trophon 2 inventory. 

A  resulting -$13-16m one-off revenue impact is expected to be realised in the second half, as well as a smaller impact in the first half of FY23. Nanosonics will take on the ongoing provision of consumables to GE Health's Trophon customers.

While direct sales allows Nanosonics to capture 100% of sales margin, Bell Potter points out the gains are expected to be largely offset by an expanded US labour force. The broker downgrades FY22 earnings per share -114% but makes only immaterial changes to forecasts beyond that. 

The rating is upgraded to Hold from Sell and the target price decreases to $5.50 from 6.35.

This report was published on February 10, 2022.

Target price is $5.50 Current Price is $4.72 Difference: $0.78
If NAN meets the Bell Potter target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $5.01, suggesting upside of 7.2%(ex-dividends)
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 1180.00.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 1.7, implying annual growth of -40.4%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 274.7.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 89.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.0, implying annual growth of 252.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 77.8.

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

OPT    OPTHEA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $1.15

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

Wilsons downgrades Opthea's rating to Market Weight from Overweight in the absence of near-term catalysts and a continuation of tough trading conditions.

The target price falls to $1.08.

Phase III trials in neovascular, age-related macular degeneration continue and the broker doesn't expect results to land until 2023 and doubts a deal will be struck beforehand.

Meanwhile, board and management have been updated to prepare the company for commercialisation, and the company has established an equity raising program to support a staging of pipeline programs, which will dilute capital.

This report was published on February 10, 2022.

Target price is $1.08 Current Price is $1.15 Difference: minus $0.07 (current price is over target).
If OPT meets the Wilsons target it will return approximately minus 6% (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 30.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.75.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 26.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.34.

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: $8.32

Bell Potter rates ((TPW)) as Upgrade to Buy from Hold (1) –

Bell Potter spotted a "solid" interim result from Temple & Webster with most financial metrics meeting or beating the broker's forecasts. Management did guide towards lower margins for the second half.

Most importantly, suggests the broker, new growth horizons are gaining traction. They will materially expand the so-called total addressable market, shortcut TAM.

With an eye on the $105.5m in net cash, Bell Potter thinks bolt-on acquisitions might be next. Upgrade to Buy from Hold. Price target $12.10 from $12.75 on reduced estimates.

This report was published on February 10, 2022.

Target price is $12.10 Current Price is $8.32 Difference: $3.78
If TPW meets the Bell Potter target it will return approximately 45% (excluding dividends, fees and charges).
Current consensus price target is $12.26, suggesting upside of 51.5%(ex-dividends)
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 6.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 126.06.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 6.6, implying annual growth of -43.1%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 122.6.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 8.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 99.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.8, implying annual growth of 33.3%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 91.9.

Market Sentiment: 0.8
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.

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CHARTS

BWP CBA CLW CNI DXC ELD IEL MIN MP1 NAN OPT TPW

For more info SHARE ANALYSIS: BWP - BWP TRUST

For more info SHARE ANALYSIS: CBA - COMMONWEALTH BANK OF AUSTRALIA

For more info SHARE ANALYSIS: CLW - CHARTER HALL LONG WALE REIT

For more info SHARE ANALYSIS: CNI - CENTURIA CAPITAL GROUP

For more info SHARE ANALYSIS: DXC - DEXUS CONVENIENCE RETAIL REIT

For more info SHARE ANALYSIS: ELD - ELDERS LIMITED

For more info SHARE ANALYSIS: IEL - IDP EDUCATION LIMITED

For more info SHARE ANALYSIS: MIN - MINERAL RESOURCES LIMITED

For more info SHARE ANALYSIS: MP1 - MEGAPORT LIMITED

For more info SHARE ANALYSIS: NAN - NANOSONICS LIMITED

For more info SHARE ANALYSIS: OPT - OPTHEA LIMITED

For more info SHARE ANALYSIS: TPW - TEMPLE & WEBSTER GROUP LIMITED