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Australian Broker Call *Extra* Edition – Aug 04, 2022

Daily Market Reports | Aug 04 2022

This story features ANSARADA GROUP LIMITED, and other companies. For more info SHARE ANALYSIS: AND

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)

AND   ARX (2)   AVC   BIO   CMM   CV1   EM2   FCL   GNC   JAN   MAD   MLD   NTO (2)   ORG   OZL   PBH   PDN   PEN   PLT   PPH   PPT   PRU   RRL (2)   S32   SGR   WSP   XPN   ZIP  

AND    ANSARADA GROUP LIMITED

Software & Services – Overnight Price: $1.89

Moelis rates ((AND)) as Upgrade to buy from Hold (1) –

Ansarada Group's June-quarter trading update appears to have met Moelis' expectations.

But the broker downgrades FY23 sales to reflect a slowdown in mergers and acquisitions while noting organic growth is on the up.

Moelis admires the company's proven tender track record; improved revenue quality, diversity and visibility; and the free-cash-flow positive position of $22m.

Upgrade to Buy from Hold. Target price falls to $1.92 from $2.27 to reflect the cut to FY23 sales forecasts and the general sector de-rating.

This report was published on July 29, 2022.

Target price is $1.92 Current Price is $1.89 Difference: $0.03
If AND meets the Moelis target it will return approximately 2% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 67.50.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 0.00 cents and EPS of 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 171.82.

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

ARX    AROA BIOSURGERY LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.87

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

Aroa Biosurgery's June-quarter trading update appears to have satisfied Bell Potter, the company maintaining revenue guidance, contingent on TELA Bio guidance, and holding a cash balance of NZ$55.4m.

Active Myriad accounts rose 32% to 95. Speculative Buy rating retained. Target price eases to $1.35 from $1.45.

This report was published on July 26, 2022.

Target price is $1.35 Current Price is $0.87 Difference: $0.48
If ARX meets the Bell Potter target it will return approximately 55% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 28.06.

Forecast for FY24:

Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 0.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 145.00.

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


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

Aroa Biosurgery's June-quarter result pleased Canaccord Genuity, and the company retained FY23 revenue and margin guidance.

The broker appreciates the company's strong balance sheet and commercial execution, and Aroa remains one of the broker's top MedTech picks.

Canaccord Genuity considers guidance to be conservative and suspects FX tailwinds, a covid recovery and strong patient backlog could deliver an upgrade, pending growth in Myriad and Tela.

Buy rating retained. Target price is steady at $1.50.

This report was published on July 26, 2022.

Target price is $1.50 Current Price is $0.87 Difference: $0.63
If ARX meets the Canaccord Genuity target it will return approximately 72% (excluding dividends, fees and charges).

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

AVC    AUCTUS INVESTMENT GROUP LIMITED

Wealth Management & Investments – Overnight Price: $1.10

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

Auctus Investment's June-quarter result pleased Canaccord Genuity, thanks to record cash receipts.

Assets under management rose sharply due to a second tranche raise for the Luxury Escapes Fund and an increase in the gross asset valuation of the US Student Housing REIT.

Buy rating and $1.15 target price retained.

This report was published on July 26, 2022.

Target price is $1.15 Current Price is $1.10 Difference: $0.05
If AVC meets the Canaccord Genuity target it will return approximately 5% (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 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.67.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 5.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.00.

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

BIO    BIOME AUSTRALIA LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.09

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

Biome Australia's partly pre-announced June-quarter report outpaced Canaccord Genuity's forecasts, thanks to an expansion of the Activated Probiotics line and the launch of the Acne and Biome Baby products. 

The company also signed the Priceline Pharmacy network in the quarter. 

Speculative Buy rating retained. Target price falls to 16c from 23c after adjusting the discount rate to 14% from 11.5%.

This report was published on July 27, 2022.

Target price is $0.16 Current Price is $0.09 Difference: $0.07
If BIO meets the Canaccord Genuity target it will return approximately 78% (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 2.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.60.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.43.

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

CMM    CAPRICORN METALS LIMITED

Gold & Silver – Overnight Price: $4.08

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

Capricorn Metals released the June quarter report which revealed gold production of 32koz at the Karlawinda Project, in-line with Bell Potter's forecast while costs came in lower than expectations.

Notably the company achieved what the analyst refers to as a "milestone" for a development company in generating positive net cash versus debt in the previous quarter.

Capricorn Metals also indicated good news from the Mt Gibson Project with the granting of a mining license alongside robust strong drilling results with a pending development decision for the end of 2022.

A Hold rating and $3.70 price target are retained.

This report was published on July 27, 2022.

Target price is $3.70 Current Price is $4.08 Difference: minus $0.38 (current price is over target).
If CMM meets the Bell Potter target it will return approximately minus 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).
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 23.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.29.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of 28.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.17.

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

CV1    CV CHECK LIMITED

Software & Services – Overnight Price: $0.12

Shaw and Partners rates ((CV1)) as Buy (1) –

Shaw and Partners notes CV Check has finished FY22 strongly following the 4Q22 update.

Revenues were up 51% in the last 12 months with gross margins of 63% versus 59% a year ago. Both were in-line with the broker's expectations, while cashflow came in better than anticipated.

The mobile credential passport was launched in the 4Q22 and CV Check is aiming to offer a SaaS model on a monthly subscription fee which the analyst considers as leading to a re-rating in stock, if successful.

Buy recommendation is retained and the target price declines marginally to 17c from 18c, adjusting for more a conservative macro economic environment.

This report was published on July 27, 2022.

Target price is $0.17 Current Price is $0.12 Difference: $0.05
If CV1 meets the Shaw and Partners target it will return approximately 42% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 120.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 120.00.

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

EM2    EAGLE MOUNTAIN MINING LIMITED

Mining – Overnight Price: $0.24

Shaw and Partners rates ((EM2)) as Buy (1) –

Eagle Mountain Mining released the June quarter activities report which revealed strong drilling results at the Arizona, Oracle Ridge Copper Project.

Results from 37 holes were reported with another 37 holes awaiting assay results.

In addition, Eagle Mountain has moved the planning for the underground recommissioning forward with works starting as soon as the September quarter.

The Buy rating and target price of $0.47 are retained.

This report was published on July 27, 2022.

Target price is $0.47 Current Price is $0.24 Difference: $0.23
If EM2 meets the Shaw and Partners target it will return approximately 96% (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 11.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 2.03.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 5.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.21.

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

FCL    FINEOS CORPORATION HOLDINGS PLC

Cloud services – Overnight Price: $1.78

Moelis rates ((FCL)) as Buy (1) –

Fineos Corp's June-quarter result appears to have met Moelis's expectations and FY22 guidance was reiterated.

The broker estimates a compound annual growth rate in sales of 17% between FY22 and FY24, below the FY22 figure of 30%, which would yield free-cash-flow breakeven by the second half of FY24.

Meanwhile, Moelis expects sales conditions should improve as insurers resume trends toward modernising core software systems.

Buy rating retained. Target price falls to $2.79 from $3.36, largely due to peer de-rating.

This report was published on July 29, 2022.

Target price is $2.79 Current Price is $1.78 Difference: $1.01
If FCL 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 0.00 cents and EPS of minus 3.55 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 50.17.

Forecast for FY23:

Moelis forecasts a full year FY23 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 104.89.

This company reports in EUR. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

GNC    GRAINCORP LIMITED

Agriculture – Overnight Price: $8.09

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

Bell Potter assesses the outlook for GrainCorp on changes to the global grain pricing and the oilseed market.

Australian wheat prices have receded -25-26% since May with a -12-13% fall in export prices, indicating a closing of the gap between Australia and US wheat to levels not seen since before Ukrainian/Russian war, notes the analyst.

Falling Canadian oilseed prices and the value represented by Australian canola seed compared to global canola oil prices is viewed by Bell Potter as an ongoing positive for crush returns until 1H23.

The target price is reduced to $9.00 from $10.00 due to declining prices tailwinds being incorporated in FY23 earnings forecasts.

Hold recommendation is maintained..

This report was published on July 27, 2022.

Target price is $9.00 Current Price is $8.09 Difference: $0.91
If GNC meets the Bell Potter target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $10.22, suggesting upside of 26.4%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 55.00 cents and EPS of 163.40 cents.
At the last closing share price the estimated dividend yield is 6.80%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 157.9, implying annual growth of 159.0%.
Current consensus DPS estimate is 84.8, implying a prospective dividend yield of 10.5%.
Current consensus EPS estimate suggests the PER is 5.1.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 44.00 cents and EPS of 100.70 cents.
At the last closing share price the estimated dividend yield is 5.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.03.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 102.6, implying annual growth of -35.0%.
Current consensus DPS estimate is 52.9, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 7.9.

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

JAN    JANISON EDUCATION GROUP LIMITED

Education & Tuition – Overnight Price: $0.44

Taylor Collison rates ((JAN)) as Speculative Buy (1) –

Janison Education's June-half trading update disappointed Taylor Collison, thanks primarily to underperformance in assessment products due to covid and the sitting of the 2022 PISA test.

Management guided to a reduction in the cost base, but it was not enough to stave off the broker's reduction in top-line growth rates for the company's assessment business in FY23 and beyond.

Speculative Buy rating retained, the broker noting the recent-share price more than compensates for the earnings miss. Target price falls to 77c, which compares with the last entry in the FNArena data base in May of $1.18

This report was published on July 28, 2022.

Target price is $0.77 Current Price is $0.44 Difference: $0.33
If JAN meets the Taylor Collison target it will return approximately 75% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Taylor Collison forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.07 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 21.26.

Forecast for FY23:

Taylor Collison forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.73 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.43.

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

MAD    MADER GROUP LIMITED

Mining Sector Contracting – Overnight Price: $2.90

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

Bell Potter assesses Mader Group reported very strong June quarter trading results with revenues for FY22 coming in at $402m, exceeding guidance of $307m. 

The company's update also included a lift in margins to 12.7% from 11.8% in the previous quarter, signaling to the analyst that Mader Group is handling the inflationary environment well.

North American operations continue to expand on the previous quarter.

Earnings forecasts are adjusted for the results and forecast margins are raised by 11% and 26% for FY22 and FY23, respectively.

The target price has been raised to $3.35 from $2.65 and the rating upgraded to Buy from Hold.

This report was published on July 27, 2022.

Target price is $3.35 Current Price is $2.90 Difference: $0.45
If MAD meets the Bell Potter target it will return approximately 16% (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 4.10 cents and EPS of 13.60 cents.
At the last closing share price the estimated dividend yield is 1.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.32.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 5.20 cents and EPS of 17.50 cents.
At the last closing share price the estimated dividend yield is 1.79%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.57.

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

MLD    MACA LIMITED

Mining Sector Contracting – Overnight Price: $1.00

Moelis rates ((MLD)) as Downgrade to Hold from Buy (3) –

Thiess has made an all-cash conditional off-market offer for MACA for $1.025 a share for all outstanding shares – a 28% premium to the July 25 closing price, observes Moelis.

The board has recommended the offer to shareholders, which is subject to 90% acceptance, foreign investment review board and ACCC approval.

Moelis considers the offer positive and an opportunity to realise value in the near term. Target price moves to $1.025 from $1.22. Rating moved to Hold from Buy.

This report was published on July 28, 2022.

Target price is $1.02 Current Price is $1.00 Difference: $0.025
If MLD meets the Moelis target it will return approximately 2% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Moelis forecasts a full year FY22 dividend of 6.00 cents and EPS of 10.50 cents.
At the last closing share price the estimated dividend yield is 6.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.52.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 5.60 cents and EPS of 13.80 cents.
At the last closing share price the estimated dividend yield is 5.60%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.25.

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

NTO    NITRO SOFTWARE LIMITED

IT & Support – Overnight Price: $1.18

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

Nitro Software's June-half result missed Bell Potter's forecasts on most top-line metrics, although the earnings (EBITDA) loss improved thanks to cost controls.

On the upside, management confirmed guidance to reach positive operating cash flow in the second half of 2023.

All up, the verdict is damaged but not broken. EPS forecasts fall -1% in FY22, -8% in FY22 and -14% in FY23, driven by material cuts in forecast subscription revenue due to a slowing in hiring.

Buy rating retained. Target price falls -28% to $1.80 from $2.50.

This report was published on August 3, 2022.

Target price is $1.80 Current Price is $1.18 Difference: $0.62
If NTO meets the Bell Potter target it will return approximately 53% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 16.37 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.21.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 10.27 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.49.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources


Shaw and Partners rates ((NTO)) as Downgrade to Hold from Buy (3) –

Nitro Software reported a soft trading update for the 2Q22 with annual recurring revenues impacted from a poor macroeconomic environment and lower sales execution, Shaw and Partners highlights.

The broker considers the company is being overly optimistic in a potential turnaround, even with the downgraded guidance it provided to the market.

Nitro Software reduced the head count, expecting to generate savings of around -$5m in 2H22, however Shaw and Partners believes the positive cashflow target for 2H23 is overly optimistic and relies heavily on a robust sales recovery.

The price target is reduced to $2.00 from $2.70 based on recovery in operating metrics taking longer to achieve.

The recommendation is accordingly downgraded to Hold from Buy.

This report was published on July 27, 2022.

Target price is $2.00 Current Price is $1.18 Difference: $0.82
If NTO meets the Shaw and Partners target it will return approximately 69% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 14.43 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.18.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 11.93 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.89.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

ORG    ORIGIN ENERGY LIMITED

Infrastructure & Utilities – Overnight Price: $6.02

Jarden rates ((ORG)) as Underweight (4) –

Origin Energy's June-quarter production report appears to have satisfied Jarden.

But the broker notes only half of the FY23 coal supply needed for Eraring has been contracted and remains cautious heading into the results, sitting -11% below FY23 consensus.

Underweight rating retained. Target price rises to $5.55 from $5.30 to reflect mainly lower coal costs.

This report was published on July 30, 2022.

Target price is $5.55 Current Price is $6.02 Difference: minus $0.47 (current price is over target).
If ORG 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 $6.40, suggesting upside of 6.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 17.50 cents and EPS of 21.40 cents.
At the last closing share price the estimated dividend yield is 2.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.13.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 28.5, implying annual growth of N/A.
Current consensus DPS estimate is 26.3, implying a prospective dividend yield of 4.4%.
Current consensus EPS estimate suggests the PER is 21.1.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 25.50 cents and EPS of 28.50 cents.
At the last closing share price the estimated dividend yield is 4.24%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.12.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 51.6, implying annual growth of 81.1%.
Current consensus DPS estimate is 39.8, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 11.7.

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

OZL    OZ MINERALS LIMITED

Copper – Overnight Price: $18.60

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

OZ Minerals reported the June quarter trading update with the company lowering guidance off the back of a -7% fall in production and cost increases of 17% according to Shaw and Partners.

The analyst is at pains to emphasise OZ Minerals is the best in class for copper mining and if the company is experiencing so many headwinds then results from other copper miners might be a surprise (not in a good way!).

Inflationary headwinds may also lead to the deferral of the West Musgrave project given the capital expenditure pressures.

Shaw and Partners maintains the Buy rating and $22 price target, highlighting the share price has now fallen more than the -30% retracement in the copper price.

This report was published on July 26, 2022.

Target price is $22.00 Current Price is $18.60 Difference: $3.4
If OZL meets the Shaw and Partners target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $19.12, suggesting upside of 2.8%(ex-dividends)
The company's fiscal year ends in December.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 26.00 cents and EPS of 148.60 cents.
At the last closing share price the estimated dividend yield is 1.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.52.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 109.3, implying annual growth of -31.5%.
Current consensus DPS estimate is 21.4, implying a prospective dividend yield of 1.2%.
Current consensus EPS estimate suggests the PER is 17.0.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 34.00 cents and EPS of 154.40 cents.
At the last closing share price the estimated dividend yield is 1.83%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.05.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 117.0, implying annual growth of 7.0%.
Current consensus DPS estimate is 20.9, implying a prospective dividend yield of 1.1%.
Current consensus EPS estimate suggests the PER is 15.9.

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

PBH    POINTSBET HOLDINGS LIMITED

Gaming – Overnight Price: $2.85

Jarden rates ((PBH)) as Buy (1) –

PointsBet Holdings' June-quarter result fell shy of Jarden's forecasts, and outcomes varied.

US growth disappointed but Australia proved solid and the number of active clients outpaced the broker's forecasts.

Jarden expects short-term losses and cuts EPS forecasts accordingly. The brokers expects management's focus on profitability will eventually drive higher earnings, and that the company is positioning itself well.

Net, the broker plumps for optimism and increases the target price to $3.89 from $3.81. Buy rating retained.

This report was published on July 30, 2022.

Target price is $3.89 Current Price is $2.85 Difference: $1.04
If PBH meets the Jarden target it will return approximately 36% (excluding dividends, fees and charges).
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 minus 70.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.06.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 56.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 5.07.

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

PDN    PALADIN ENERGY LIMITED

Uranium – Overnight Price: $0.75

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

Paladin Energy announced the June quarter activities report with the company announcing the decision to restart the Langer Heinrich Mine in Namibia in 1Q24, notes Shaw and Partners.

With US$117m net cash on the balance sheet and the Langer Heinrich Mine fully funded, Paladin Energy is in a strong financial position.

The estimated cost to restart production has risen to US$118m from US$87m.

The Buy rating is maintained and Paladin Energy is Shaw and Partners preferred stock in the uranium market. The target price remains at $1.30.

This report was published on July 27, 2022.

Target price is $1.30 Current Price is $0.75 Difference: $0.55
If PDN meets the Shaw and Partners target it will return approximately 73% (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 0.42 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 180.29.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.28 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 270.76.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

PEN    PENINSULA ENERGY LIMITED

Uranium – Overnight Price: $0.19

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

Peninsula Energy's June quarter activities report supports Shaw and Partners view that the Feasibility Study Update for the company's Lance Projects in Wyoming is due to be completed by 3Q22 and a Final Investment Decision will be taken after.

The analyst is forecasting commissioning and ramp up of operations during the first half of 2023.

Peninsula Energy has a strong balance sheet and the company already has an existing contract book. Shaw and Partners views the US operating environment as a positive and the company is seen as offering positive exposure to the uranium cycle.

The Buy rating and target price of $0.40 are retained.

This report was published on July 27, 2022.

Target price is $0.40 Current Price is $0.19 Difference: $0.21
If PEN meets the Shaw and Partners target it will return approximately 111% (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 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 190.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.00.

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

PLT    PLENTI GROUP LIMITED

Business & Consumer Credit – Overnight Price: $0.66

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

Plenti Group provided a 1Q23 earnings update which Shaw and Partners noted was a strong result.

The loan book grew 90% to $1.44bn, ahead of other fintech lenders, even though the origination slowed during the quarter as Plenti moved to focus on profitability ahead of originations.

Shaw and Partners adjusts earnings for slightly better NIM and slightly higher net losses than expected.

The Buy rating is maintained and the price target is lowered to $1.48 from $1.63.

This report was published on July 26, 2022.

Target price is $1.48 Current Price is $0.66 Difference: $0.82
If PLT meets the Shaw and Partners target it will return approximately 124% (excluding dividends, fees and charges).
The company's fiscal year ends in March.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 3.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 20.00.

Forecast for FY24:

Shaw and Partners forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 220.00.

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: $1.17

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

Jarden reviews Pushpay Holdings and believes the Catholic market represents an under-penetrated opportunity (the company has already experienced success with evangelical protestant churches).

Meanwhile, the company has won over the catholic Archdiocese in Seattle – the 15th largest in the US, with 174 parishes.

Overweight rating and NZ$1.50 target price retained.

This report was published on July 29, 2022.

Current Price is $1.17. Target price not assessed.
The company's fiscal year ends in March.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 4.16 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 28.11.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 4.72 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.80.

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

PPT    PERPETUAL LIMITED

Wealth Management & Investments – Overnight Price: $30.36

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

Perpetual's June-quarter funds-under-management (FUM) update pleased Bell Potter given the fall in global equity and bond markets during the period.

Funds under management (FUM) fell -8% to $90.4bn from $97.9bn the previous quarter. Meanwhile, costs are looking toppy.

On the upside, US$1.5bn of new funds were committed for FY23, a large amount being directed towards Trillium's ESG offering.

EPS forecasts fall -1.8% in FY22, -11% in FY23 and -9.9% in FY24. Buy rating retained. Target price falls to $38.40 from $42.

This report was published on August 26, 2022.

Target price is $38.40 Current Price is $30.36 Difference: $8.04
If PPT meets the Bell Potter target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $33.40, suggesting upside of 10.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 218.00 cents and EPS of 259.00 cents.
At the last closing share price the estimated dividend yield is 7.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.72.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 254.6, implying annual growth of 88.6%.
Current consensus DPS estimate is 211.5, implying a prospective dividend yield of 7.0%.
Current consensus EPS estimate suggests the PER is 11.9.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 210.00 cents and EPS of 237.10 cents.
At the last closing share price the estimated dividend yield is 6.92%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 222.9, implying annual growth of -12.5%.
Current consensus DPS estimate is 189.8, implying a prospective dividend yield of 6.3%.
Current consensus EPS estimate suggests the PER is 13.6.

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

PRU    PERSEUS MINING LIMITED

Gold & Silver – Overnight Price: $1.70

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

Perseus Mining's June-quarter production missed consensus and Canaccord Genuity's forecasts and all-in-sustaining costs were in line.

On the upside, cash continued to rise and the company appears to have met FY22 guidance.

Meanwhile, the organic growth outlook appears positive.

Buy rating and $2.30 target price retained, the company remaining one of the broker's top sector picks. 

This report was published on July 27, 2022.

Target price is $2.30 Current Price is $1.70 Difference: $0.6
If PRU meets the Canaccord Genuity target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $2.03, suggesting upside of 19.6%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 2.00 cents and EPS of 24.00 cents.
At the last closing share price the estimated dividend yield is 1.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.08.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.4, implying annual growth of 92.3%.
Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 9.2.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 2.00 cents and EPS of 21.00 cents.
At the last closing share price the estimated dividend yield is 1.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.10.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.4, implying annual growth of 16.3%.
Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 2.3%.
Current consensus EPS estimate suggests the PER is 7.9.

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

RRL    REGIS RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.79

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

Regis Resources' June-quarter production and costs update pleased Bell Potter, thanks mainly to improved mill throughput and higher grades at Duketon. Head grades also rose at Tropicana. 

Costs were less impressive but Bell Potter said the performance was solid compared to peers in a challenging quarter and expects FY22 all-in-sustaining costs to be well below the sector average by the end of reporting season.

Management guided to 9% production growth and stable costs for FY23, and the broker believes delivery could trigger a re-rating.

FY23 earnings fall -21% in response to a 9% rise in all-in-sustaining costs. FY24 forecasts rise 4% in anticipation of a higher gold price.

Cash and bullion rose to $231m from $167m, and drawn debt at $300m.

Buy rating retained. Target price eases to $2.64 from $2.72.

This report was published on July 26, 2022.

Target price is $2.64 Current Price is $1.79 Difference: $0.85
If RRL meets the Bell Potter target it will return approximately 47% (excluding dividends, fees and charges).
Current consensus price target is $1.83, suggesting upside of 2.5%(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 6.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 25.94.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.3, implying annual growth of -72.3%.
Current consensus DPS estimate is 1.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 24.5.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 3.00 cents and EPS of 17.30 cents.
At the last closing share price the estimated dividend yield is 1.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.35.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.3, implying annual growth of 95.9%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 12.5.

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


Canaccord Genuity rates ((RRL)) as Hold (3) –

Regis Resources' pre-reported June-quarter production pleased Canaccord Genuity, landing slightly above the top-end of guidance, and all-in-sustaining costs met the broker's and consensus forecasts.

The company is set to meet FY22 production guidance while posting a slight miss on cost guidance.

On the downside, management guided to an increase in capital expenditure 50% above Canaccord Genuity's estimate and to a lower FY24 production outlook.

EPS forecasts fall -3% for FY23 and -6% for FY24. Hold rating retained. Target price falls to $1.50 from $1.60.

This report was published on July 26, 2022.

Target price is $1.50 Current Price is $1.79 Difference: minus $0.29 (current price is over target).
If RRL meets the Canaccord Genuity target it will return approximately minus 16% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting upside of 2.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 2.00 cents and EPS of 11.00 cents.
At the last closing share price the estimated dividend yield is 1.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.27.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.3, implying annual growth of -72.3%.
Current consensus DPS estimate is 1.1, implying a prospective dividend yield of 0.6%.
Current consensus EPS estimate suggests the PER is 24.5.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 6.00 cents and EPS of 20.00 cents.
At the last closing share price the estimated dividend yield is 3.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 14.3, implying annual growth of 95.9%.
Current consensus DPS estimate is 3.2, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 12.5.

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

S32    SOUTH32 LIMITED

Mining – Overnight Price: $3.77

Shaw and Partners rates ((S32)) as Buy (1) –

South32 reported the June quarter and FY22 production and sales update which came in at 99% of the FY22 guidance, noted Shaw and Partners.

The broker is positive about the results with South32 delivering mostly on guidance despite the head winds from weather, labour shortages and covid impacts.

South32 continues the strategic re-alignment of the operations towards a greater emphasis on metals for a low-carbon future, although the analyst highlights no acceptable offers have been secured for Eagle Downs Metallurgical Coal. 

A Buy rating and $6 target price are retained.

This report was published on July 26, 2022.

Target price is $6.00 Current Price is $3.77 Difference: $2.23
If S32 meets the Shaw and Partners target it will return approximately 59% (excluding dividends, fees and charges).
Current consensus price target is $5.34, suggesting upside of 41.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 43.15 cents and EPS of 78.39 cents.
At the last closing share price the estimated dividend yield is 11.44%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.81.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 82.4, implying annual growth of N/A.
Current consensus DPS estimate is 35.1, implying a prospective dividend yield of 9.3%.
Current consensus EPS estimate suggests the PER is 4.6.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 41.90 cents and EPS of 71.73 cents.
At the last closing share price the estimated dividend yield is 11.11%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.26.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 73.6, implying annual growth of -10.7%.
Current consensus DPS estimate is 34.5, implying a prospective dividend yield of 9.2%.
Current consensus EPS estimate suggests the PER is 5.1.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

SGR    STAR ENTERTAINMENT GROUP LIMITED

Gaming – Overnight Price: $2.98

Jarden rates ((SGR)) as Buy (1) –

Star Entertainment's June-quarter trading update missed Jarden's forecasts, rising cost inflation trumping a strong recovery in revenue as domestic tourism reignited.

The broker notes the dispute with a Queens Wharf contractor continues.

Earnings (EBITDA) forecasts fall -1% in FY22 and -5% in FY23, and FY24 forecasts are upgraded by 5% to reflect longer operating hours in Treasury due to the delay at Queens Wharf. 

Buy rating retained. Target price rises to $3.98 from $3.89.

This report was published on July 31, 2022.

Target price is $3.98 Current Price is $2.98 Difference: $1
If SGR meets the Jarden target it will return approximately 34% (excluding dividends, fees and charges).
Current consensus price target is $3.54, suggesting upside of 18.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY22:

Jarden forecasts a full year FY22 dividend of 16.00 cents and EPS of minus 2.30 cents.
At the last closing share price the estimated dividend yield is 5.37%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 129.57.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -3.0, 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:

Jarden forecasts a full year FY23 dividend of 18.00 cents and EPS of 16.10 cents.
At the last closing share price the estimated dividend yield is 6.04%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.51.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.5, implying annual growth of N/A.
Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 3.1%.
Current consensus EPS estimate suggests the PER is 18.1.

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

WSP    WHISPIR LIMITED

Cloud services – Overnight Price: $1.07

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

Shaw and Partners are upbeat post the 4Q22 trading update for Whispir.

The broker notes better than expected revenues and a much improved cash burn from activities, with free cashflow of $4.5m or a 15% improvement.

Strategically Whispir aims to become cashflow positive by FY24, the report highlights.

Trading a 1.5x EV/Revenue, Shaw and Partners considers the shares to have been oversold.

A Buy rating and $3.50 price target are maintained.

This report was published on July 26, 2022.

Target price is $3.50 Current Price is $1.07 Difference: $2.43
If WSP meets the Shaw and Partners target it will return approximately 227% (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 14.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.59.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 9.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.76.

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

XPN    XPON TECHNOLOGIES GROUP LIMITED

Cloud services – Overnight Price: $0.19

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

XPON Technologies reported its 4Q22 trading activities report.

Shaw and Partners highlights the better than expected revenue growth of 78% on the previous year was driven by both new and existing customers.

Cashflow is expected to breakeven by FY24, XPON Technologies reported an additional 20 or so in the headcount for the period, suggesting that cashflow burn will top out in 1H23.

Shaw and Partners has adjusted earnings post the update to inline with announced numbers and the analyst will review forecasts post the August result.

The 35c price target and Buy rating are maintained.

This report was published on July 26, 2022.

Target price is $0.35 Current Price is $0.19 Difference: $0.16
If XPN meets the Shaw and Partners target it will return approximately 84% (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 2.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.60.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 2.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 7.92.

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

ZIP    ZIP CO LIMITED

Business & Consumer Credit – Overnight Price: $1.33

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

Zip Co reported 4Q22 trading results incorporating the new strategy to turn around the business operations.

Company metrics showed a 20% rise in transaction values, AN&Z was solid and international came in below expectations.

The analyst highlights the positive addition of retailers with Bed Bath and Beyond, Qantas ((QAN)), eBay and Best Buy added over the quarter.

Cashflow burn appears to have slowed and the broker assesses cash flow losses are down -45% in the 1H22.

Shaw and Partners has a Buy rating and a $2.60 price target.

This report was published on July 26, 2022.

Target price is $2.60 Current Price is $1.33 Difference: $1.27
If ZIP meets the Shaw and Partners target it will return approximately 95% (excluding dividends, fees and charges).
Current consensus price target is $0.71, suggesting downside of -46.5%(ex-dividends)
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 33.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.92.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -38.5, 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:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 11.70 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 11.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is -30.0, 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: -0.5
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

AND ARX AVC BIO CMM EM2 FCL GNC JAN MAD MLD NTO ORG OZL PBH PDN PEN PLT PPH PPT PRU QAN RRL S32 SGR WSP XPN ZIP

For more info SHARE ANALYSIS: AND - ANSARADA GROUP LIMITED

For more info SHARE ANALYSIS: ARX - AROA BIOSURGERY LIMITED

For more info SHARE ANALYSIS: AVC - AUCTUS INVESTMENT GROUP LIMITED

For more info SHARE ANALYSIS: BIO - BIOME AUSTRALIA LIMITED

For more info SHARE ANALYSIS: CMM - CAPRICORN METALS LIMITED

For more info SHARE ANALYSIS: EM2 - EAGLE MOUNTAIN MINING LIMITED

For more info SHARE ANALYSIS: FCL - FINEOS CORPORATION HOLDINGS PLC

For more info SHARE ANALYSIS: GNC - GRAINCORP LIMITED

For more info SHARE ANALYSIS: JAN - JANISON EDUCATION GROUP LIMITED

For more info SHARE ANALYSIS: MAD - MADER GROUP LIMITED

For more info SHARE ANALYSIS: MLD - MACA LIMITED

For more info SHARE ANALYSIS: NTO - NITRO SOFTWARE LIMITED

For more info SHARE ANALYSIS: ORG - ORIGIN ENERGY LIMITED

For more info SHARE ANALYSIS: OZL - OZ MINERALS LIMITED

For more info SHARE ANALYSIS: PBH - POINTSBET HOLDINGS LIMITED

For more info SHARE ANALYSIS: PDN - PALADIN ENERGY LIMITED

For more info SHARE ANALYSIS: PEN - PENINSULA ENERGY LIMITED

For more info SHARE ANALYSIS: PLT - PLENTI GROUP LIMITED

For more info SHARE ANALYSIS: PPH - PUSHPAY HOLDINGS LIMITED

For more info SHARE ANALYSIS: PPT - PERPETUAL LIMITED

For more info SHARE ANALYSIS: PRU - PERSEUS MINING LIMITED

For more info SHARE ANALYSIS: QAN - QANTAS AIRWAYS LIMITED

For more info SHARE ANALYSIS: RRL - REGIS RESOURCES LIMITED

For more info SHARE ANALYSIS: S32 - SOUTH32 LIMITED

For more info SHARE ANALYSIS: SGR - STAR ENTERTAINMENT GROUP LIMITED

For more info SHARE ANALYSIS: WSP - WHISPIR LIMITED

For more info SHARE ANALYSIS: XPN - XPON TECHNOLOGIES GROUP LIMITED

For more info SHARE ANALYSIS: ZIP - ZIP CO LIMITED