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Australian Broker Call *Extra* Edition – Aug 22, 2022

Daily Market Reports | Aug 22 2022

This story features LIFE360 INC, and other companies. For more info SHARE ANALYSIS: 360

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)

360   ABP   BHP   BPT   BSL   CGF   CQE   CSL   EHL   GMG   GOZ   GUD   JHX   LLL   LOT   MNY (2)   MSB   MYX   PEN (2)   PSQ   RDY   SCP (2)   SGF   SGM   SLR   STN   STX   TPW (2)   WSP  

360    LIFE360 INC

Software & Services – Overnight Price: $5.63

Bell Potter rates ((360)) as Buy (1) –

First half results were mixed, with revenue in line with Bell Potter's forecast and the adjusted EBITDA loss of -US$32.3m greater than expected. The main positive surprise in the result was a cash balance of US$79m.

Life360 has upgraded its core subscription revenue growth guidance to more than 55% and narrowed both the consolidated revenue and adjusted EBITDA loss guidance to US$245-260m and -US$35-38m, respectively.

The broker updates for the changes to guidance, with the net result being a 10% increase to the target, to $8.25 from $7.50. Buy rating retained.

This report was published on August 16, 2022.

Target price is $8.25 Current Price is $5.63 Difference: $2.62
If 360 meets the Bell Potter target it will return approximately 47% (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 36.15 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 15.57.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 15.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 36.81.

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

ABP    ABACUS PROPERTY GROUP

REITs – Overnight Price: $2.78

Moelis rates ((ABP)) as Buy (1) –

FY22 results were in line with expectations and guidance. Moelis notes ongoing sector tailwinds in storage pushed revenue up 16.1%, equating to a passing yield of 5.5% on $1.3bn in established assets.

Development remains the focus, with Abacus Property looking to deploy $25m per half into the pipeline and a further $100m into acquisitions.  Moelis believes the stock is oversold and retains a Buy rating. Target edges down slightly to $3.58 from $3.60.

This report was published on August 16, 2022.

Target price is $3.58 Current Price is $2.78 Difference: $0.8
If ABP meets the Moelis target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $3.25, suggesting upside of 16.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 18.40 cents and EPS of 19.40 cents.
At the last closing share price the estimated dividend yield is 6.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.33.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 18.1, implying annual growth of -70.4%.
Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 6.6%.
Current consensus EPS estimate suggests the PER is 15.4.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 18.50 cents and EPS of 19.90 cents.
At the last closing share price the estimated dividend yield is 6.65%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.97.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.6, implying annual growth of -2.8%.
Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 6.5%.
Current consensus EPS estimate suggests the PER is 15.8.

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

BHP    BHP GROUP LIMITED

Bulks – Overnight Price: $41.55

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

Shaw and Partners welcomes the FY22 results, noting a solid operating performance. Free cash flow was significant and well ahead of expectations. BHP Group was also disciplined on costs, the broker adds.

Moreover, the broker suggests there are a "host of internal growth options" along with acquisition opportunities which should enable the company to fill the earnings and valuation gap left by the exit of the petroleum division.

Shaw and Partners retains a Buy rating with a $46.43 target.

This report was published on August 17, 2022.

Target price is $46.43 Current Price is $41.55 Difference: $4.88
If BHP meets the Shaw and Partners target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $41.74, suggesting upside of 0.5%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 515.71 cents and EPS of 475.39 cents.
At the last closing share price the estimated dividend yield is 12.41%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.74.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 578.7, implying annual growth of N/A.
Current consensus DPS estimate is 414.8, implying a prospective dividend yield of 10.0%.
Current consensus EPS estimate suggests the PER is 7.2.

Forecast for FY24:

Shaw and Partners forecasts a full year FY24 dividend of 383.20 cents and EPS of 359.57 cents.
At the last closing share price the estimated dividend yield is 9.22%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.56.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 424.4, implying annual growth of -26.7%.
Current consensus DPS estimate is 308.2, implying a prospective dividend yield of 7.4%.
Current consensus EPS estimate suggests the PER is 9.8.

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

BPT    BEACH ENERGY LIMITED

Crude Oil – Overnight Price: $1.70

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

Both FY22 underlying earnings (EBITDA) and underlying profit for Beach Energy were a miss compared to Bell Potter's forecasts, due to higher operating costs relating to royalties, tolls and tariffs. A non-cash -$30m provision was also included.

The broker adopts a more conservative production and cost outlook. FY23-25 EPS forecasts fall by -11%, -11% and -3%, respectively. The target falls to $2.30 from $2.40. A 1.0cps fully franked final dividend was declared, taking FY22 dividend payments to 2.0cps.

Management guided to FY23 production of 20.0-22.5MMboe, labelled a miss versus the broker's 21.3MMboe expectation.

The analyst stays with a Buy rating, noting the company is trading at lower earnings multiples compared with its ASX-listed peers. Benefits are expected from tightening east coast gas and international LNG markets.

This report was published on August 16, 2022.

Target price is $2.30 Current Price is $1.70 Difference: $0.6
If BPT meets the Bell Potter target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $1.84, suggesting upside of 8.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Bell Potter forecasts a full year FY23 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 24.6, implying annual growth of 12.0%.
Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 6.9.

Forecast for FY24:

Bell Potter forecasts a full year FY24 dividend of 2.00 cents and EPS of 27.00 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 6.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.6, implying annual growth of 8.1%.
Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 6.4.

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

BSL    BLUESCOPE STEEL LIMITED

Steel & Scrap – Overnight Price: $17.39

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

With BlueScope Steel revealing second half earnings exceeded company guidance, Jarden finds BlueScope Steel's guidance for the US steel spread in the coming half conservative, noting this could provide room for upward revisions to guidance.

The broker did lower its earnings forecast for the coming year -13.8%, closer to company guidance, but notes its first half forecast of $964m remains above company guidance of $800-900m. 

The Overweight rating is retained and the target price decreases to $20.80 from $21.40.

This report was published on August 15, 2022.

Target price is $20.80 Current Price is $17.39 Difference: $3.41
If BSL meets the Jarden target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $20.99, suggesting upside of 20.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 50.00 cents and EPS of 296.80 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.86.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 251.0, implying annual growth of -56.1%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 6.9.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 50.00 cents and EPS of 168.90 cents.
At the last closing share price the estimated dividend yield is 2.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.30.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 207.8, implying annual growth of -17.2%.
Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 2.9%.
Current consensus EPS estimate suggests the PER is 8.4.

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

CGF    CHALLENGER LIMITED

Wealth Management & Investments – Overnight Price: $6.74

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

Jarden views the FY22 earnings results from Challenger as in line with expectations, although the broker points to lower FY23 earnings guidance of 8% growth, versus previous estimates of 11-12%.

The broker points to $2.5bn in net outflows in 4Q22 and the disappointing performance from the Bank.

The broker's earnings forecasts are adjusted by -4% and -4.9% for FY23 and FY24, respectively with lower estimates for Life; lower FUM and a higher cost-to-income ratio; the Bank undergoing a strategic review and expected to generate a -$10m loss as well as rising cost guidance.

An Overweight rating is retained and the price target lowered to $7.15 from $7.65.

This report was published on August 16, 2022.

Target price is $7.15 Current Price is $6.74 Difference: $0.41
If CGF meets the Jarden target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.71, suggesting downside of -0.4%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 24.80 cents and EPS of 48.40 cents.
At the last closing share price the estimated dividend yield is 3.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.93.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 44.0, implying annual growth of 17.9%.
Current consensus DPS estimate is 24.8, implying a prospective dividend yield of 3.7%.
Current consensus EPS estimate suggests the PER is 15.3.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 28.00 cents and EPS of 55.20 cents.
At the last closing share price the estimated dividend yield is 4.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.21.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 49.1, implying annual growth of 11.6%.
Current consensus DPS estimate is 27.6, implying a prospective dividend yield of 4.1%.
Current consensus EPS estimate suggests the PER is 13.7.

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

CQE    CHARTER HALL SOCIAL INFRASTRUCTURE REIT

Childcare – Overnight Price: $3.73

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

Jarden sees Charter Hall Social Infrastructure REIT as well placed to weather volatility from rising interest rates, but expects rising cost of debt will put pressure on short- and medium-term growth.

The broker expects a long weighted average lease expiry, fixed and Consumer Price Index-linked leases, and exposure to the structural growth of the childcare and healthcare sectors should benefit the REIT, but anticipates a compound annual growth rate of just 1.4% through to FY27.

The Overweight rating is retained and the target price decreases to $3.90 from $3.95.

This report was published on August 15, 2022.

Target price is $3.90 Current Price is $3.73 Difference: $0.17
If CQE meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 18.20 cents and EPS of 17.30 cents.
At the last closing share price the estimated dividend yield is 4.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.56.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 19.30 cents and EPS of 18.30 cents.
At the last closing share price the estimated dividend yield is 5.17%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.38.

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

CSL    CSL LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $294.67

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

FY22 profit was at the top end of guidance and CSL now expects 10-14% growth in FY23. This is ahead of Wilsons' expectations but upgrades are resisted ahead of a formal update in October.

The broker notes investors are struggling to accommodate the perpetuation of higher raw material costs in the outlook for Behring yet believes CSL will manage this and thrive whereas competitor Grifols will struggle.

Overweight maintained. Targets is raised to $342.55 from $345.00.

This report was published on August 18, 2022.

Target price is $342.55 Current Price is $294.67 Difference: $47.88
If CSL meets the Wilsons target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $324.80, suggesting upside of 10.2%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 17.52 cents and EPS of 799.92 cents.
At the last closing share price the estimated dividend yield is 0.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 36.84.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 807.1, implying annual growth of N/A.
Current consensus DPS estimate is 374.1, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 36.5.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 16.69 cents and EPS of 914.35 cents.
At the last closing share price the estimated dividend yield is 0.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.23.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 993.5, implying annual growth of 23.1%.
Current consensus DPS estimate is 454.6, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 29.7.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
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: $0.89

Moelis rates ((EHL)) as Buy (1) –

FY22 results were in line with expectations. Moelis notes strong cash flow facilitated capital management initiatives. No guidance was provided for FY23 although Emeco Holdings expects growth in all operating segments and margins to be broadly in line with FY22.

Moelis moderates its margin assumptions for PNP, in line with guidance, as the company expects growth and improved margins to be weighted to the second half while an underperforming contract is addressed in the first half.

Buy rating retained and the broker continues to view the stock as "very cheap". Target edges down to $1.51 from $1.61.

This report was published on August 17, 2022.

Target price is $1.51 Current Price is $0.89 Difference: $0.62
If EHL meets the Moelis target it will return approximately 70% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 5.00 cents and EPS of 15.10 cents.
At the last closing share price the estimated dividend yield is 5.62%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.89.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 6.00 cents and EPS of 17.90 cents.
At the last closing share price the estimated dividend yield is 6.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 4.97.

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

GMG    GOODMAN GROUP

Infra & Property Developers – Overnight Price: $20.49

Jarden rates ((GMG)) as Neutral (3) –

Goodman Group's FY22 earnings result proved again how resilient and strong the business model is, amidst a backdrop of strong fundamentals for the global logistics industry, notes Jarden.

Goodman Group has guided for 11% earnings growth in FY23, which the broker considers is conservative and has opted instead for a 15% growth estimate and around 7-8% from FY24 onwards.

Jarden earnings forecasts sit below consensus and the dividend estimates are some -12% below the market expectations for FY23 and FY24.

The broker's target is reduced to $21.45 from $22.95 to reflect minor changes to earnings, a higher cap rate and increased cost of capital for higher interest rates.

A Neutral rating is retained.

This report was published on August 16, 2022.

Target price is $21.45 Current Price is $20.49 Difference: $0.96
If GMG meets the Jarden target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $22.74, suggesting upside of 11.0%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 30.00 cents and EPS of 94.01 cents.
At the last closing share price the estimated dividend yield is 1.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.80.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 93.2, implying annual growth of -49.1%.
Current consensus DPS estimate is 30.2, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 22.0.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 30.00 cents and EPS of 100.60 cents.
At the last closing share price the estimated dividend yield is 1.46%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 100.3, implying annual growth of 7.6%.
Current consensus DPS estimate is 31.3, implying a prospective dividend yield of 1.5%.
Current consensus EPS estimate suggests the PER is 20.4.

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

GOZ    GROWTHPOINT PROPERTIES AUSTRALIA

Infra & Property Developers – Overnight Price: $3.53

Moelis rates ((GOZ)) as Buy (1) –

FY22 results were in line with upgraded guidance and Moelis' estimates. The broker expects industrial rent should support valuations in the event of capitalisation rate expansion and remains positive on the outlook for office.

This confidence stems from inflationary pressure on rents and heightened construction costs that limit new supply.

Growthpoint Properties Australia remains a highly attractive investment proposition, in the broker's view, given the stable income profile and options on the balance sheet. Buy rating retained. Target is reduced to $4.37 from $4.42.

This report was published on August 16, 2022.

Target price is $4.37 Current Price is $3.53 Difference: $0.84
If GOZ meets the Moelis target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $3.91, suggesting upside of 10.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 21.40 cents and EPS of 25.80 cents.
At the last closing share price the estimated dividend yield is 6.06%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.68.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 20.7, implying annual growth of -65.2%.
Current consensus DPS estimate is 21.1, implying a prospective dividend yield of 6.0%.
Current consensus EPS estimate suggests the PER is 17.1.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 22.00 cents and EPS of 26.40 cents.
At the last closing share price the estimated dividend yield is 6.23%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.37.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 22.6, implying annual growth of 9.2%.
Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 6.2%.
Current consensus EPS estimate suggests the PER is 15.6.

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

GUD    G.U.D. HOLDINGS LIMITED

Automobiles & Components – Overnight Price: $8.67

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

Wilsons still sees good value in the share price of G.U.D. Holdings following FY22 results that were in line with recent guidance.

The broker highlights a robust performance from the core Auto business (should continue to grow, at a slower pace) and underperformance of the 4WD-exposed business units, including APG and G4CVA.

The analyst expects structural demand growth for 4X4s and SUVs, and is positive on the outlook for APG, as a result. The envisaged price earnings multiple increases in light of strong core Auto earnings, and the target price rises to $10.31 from $9.70. Overweight rating.

This report was published on August 16, 2022.

Target price is $10.31 Current Price is $8.67 Difference: $1.64
If GUD meets the Wilsons target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $11.52, suggesting upside of 32.8%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 51.00 cents and EPS of 85.90 cents.
At the last closing share price the estimated dividend yield is 5.88%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.09.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 83.5, implying annual growth of 264.8%.
Current consensus DPS estimate is 49.2, implying a prospective dividend yield of 5.7%.
Current consensus EPS estimate suggests the PER is 10.4.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 55.00 cents and EPS of 91.80 cents.
At the last closing share price the estimated dividend yield is 6.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.44.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 94.3, implying annual growth of 12.9%.
Current consensus DPS estimate is 58.0, implying a prospective dividend yield of 6.7%.
Current consensus EPS estimate suggests the PER is 9.2.

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

JHX    JAMES HARDIE INDUSTRIES PLC

Building Products & Services – Overnight Price: $36.49

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

Following 1Q FY23 results for James Hardie Industries, Jarden slightly lowers FY23 EPS estimates, but then raises FY24 forecasts, and the target price is set at $42.40, down from $42.50. The Overweight rating is unchanged.

The broker's FY23 adjusted profit estimate is now US$745m versus the company's guidance range of US$730-780m, revised down from US$740-820m.

Given current economic conditions, management intends to delay its greenfield capacity expansion in North America and Europe.

The strong sales growth in the higher value and margin ColorPlus is particularly encouraging for the analyst, as the brand makes up around 25% of North American sales volumes.

This report was published on August 17, 2022.

Target price is $42.40 Current Price is $36.49 Difference: $5.91
If JHX meets the Jarden target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $48.57, suggesting upside of 33.1%(ex-dividends)
The company's fiscal year ends in February.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 141.82 cents and EPS of 232.20 cents.
At the last closing share price the estimated dividend yield is 3.89%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.71.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 239.5, implying annual growth of N/A.
Current consensus DPS estimate is 121.4, implying a prospective dividend yield of 3.3%.
Current consensus EPS estimate suggests the PER is 15.2.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 123.75 cents and EPS of 206.62 cents.
At the last closing share price the estimated dividend yield is 3.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 17.66.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 249.4, implying annual growth of 4.1%.
Current consensus DPS estimate is 130.6, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 14.6.

This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

LLL    LEO LITHIUM LIMITED

New Battery Elements – Overnight Price: $0.51

Canaccord Genuity rates ((LLL)) as Speculative Buy (-1) –

Canaccord Genuity initiates coverage of Leo Lithium with a Speculative Buy and a $1 target price.

The company is the result of the merger of Firefinchs's ((FFX)) 50:50 joint venture of the Goulama lithium project in Southern Mali with Ganfeng Lithium.

The project will be funded by Ganfeng's US$130m equity earn-in and a US$40m loan, with any shortfall funded from JV partners. Leo Lithium has $86m in cash on the balance.

As one of the best hard-rock lithium resources globally, Goulama is forecast to generate EBITDA of US$380m over the first 4 years of production, rising to US$500m at Stage 2.

Speculative Buy and $1 target price.

This report was published on August 16, 2022.

Target price is $1.00 Current Price is $0.51 Difference: $0.49
If LLL meets the Canaccord Genuity target it will return approximately 96% (excluding dividends, fees and charges).
The company's fiscal year ends in December.

Forecast for FY22:

Canaccord Genuity forecasts a full year FY22 dividend of 0.00 cents and EPS of 0.00 cents.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.00 cents.

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

LOT    LOTUS RESOURCES LIMITED

Uranium – Overnight Price: $0.21

Shaw and Partners rates ((LOT)) as Hold (3) –

Lotus Resources intends to re-start operations at Kayelekera uranium project in Malawi. The definitive feasibility study has confirmed this is one of the lowest capital-cost uranium projects globally, with the ability to quickly recommence production.

Shaw and Partners likes the stock for its leverage to the uranium up-cycle, although notes Malawi carries higher jurisdictional risks.

The broker updates its modelling in line with the release of the study, reducing the target to $0.25 from $0.31 because of a larger recapitalisation than previously modelled. Hold maintained.

This report was published on August 17, 2022.

Target price is $0.25 Current Price is $0.21 Difference: $0.04
If LOT meets the Shaw and Partners target it will return approximately 19% (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 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 105.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 70.00.

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: $2.41

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

Money3's FY22 result met Canaccord Genuity's forecast, thanks to 25% originations growth and strong cash conversion.

The broker appreciates that management appears to be increasing loan provisions, despite low bad and doubtfuls, and notes the company is well capitalised, with funding to meet its $1bn loan book target for the next year and half.

The broker does note that mezzanine debt in the funding mix suggests the company is paying for the privilege of balance sheet flexibility but considers this a fair trade-off for the M&A benefits now many competitors have retreated from the bidding arena.

Despite the market de-rating, the broker believes the company can deliver year-on-year profit growth.

EPS forecasts fall -5% in FY23 and FY24. Buy rating retained. Target price slips to $2.85 from $2.34.

This report was published on August 17, 2022.

Target price is $2.85 Current Price is $2.41 Difference: $0.44
If MNY meets the Canaccord Genuity target it will return approximately 18% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 13.00 cents and EPS of 26.00 cents.
At the last closing share price the estimated dividend yield is 5.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.27.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 14.00 cents and EPS of 30.00 cents.
At the last closing share price the estimated dividend yield is 5.81%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.03.

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


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

Shaw and Partners assesses the FY22 results were "solid", with materially increased profit. Further funding sources have been secured and Money3 has implemented capital management initiatives.

The broker makes two major changes to outlook. The first is a broad-based increase in interest costs and the second are minor revisions to gross loan book estimates because of higher book repayments amid lower unemployment and higher wages growth.

As a result, the broker reduces multiples by -20% and the target to $3.28 from $4.49. Buy rating retained.

This report was published on August 17, 2022.

Target price is $3.28 Current Price is $2.41 Difference: $0.87
If MNY meets the Shaw and Partners target it will return approximately 36% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 13.40 cents and EPS of 25.20 cents.
At the last closing share price the estimated dividend yield is 5.56%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.56.

Forecast for FY24:

Shaw and Partners forecasts a full year FY24 dividend of 14.90 cents and EPS of 27.80 cents.
At the last closing share price the estimated dividend yield is 6.18%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.67.

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

MSB    MESOBLAST LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.86

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

Mesoblast has completed a US$45m capital raising which increases pro forma cash to US$105m, with additional undrawn credit facilities of US$40m.

The company will now initiate a new phase 3 study targeting chronic lower back pain with Rexlemestrocel-L in combination with hyaluronic acid.

Bell Potter retains a Buy, Speculative rating while lowering the target to $1.70 from $1.80 following the capital raising.

This report was published on August 16, 2022.

Target price is $1.70 Current Price is $0.86 Difference: $0.84
If MSB meets the Bell Potter target it will return approximately 98% (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 21.69 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 3.96.

Forecast for FY23:

Bell Potter forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 18.08 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 4.76.

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

MYX    MAYNE PHARMA GROUP LIMITED

Pharmaceuticals & Biotech/Lifesciences – Overnight Price: $0.36

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

Canaccord Genuity revises Mayne Pharma's estimates post the sales of the contract services business (MCS) for a net price of $636m.

The broker deducts MCS from its FY23 forecasts, resulting in a decent crunch to earnings (EBITDA), but expects a recovery in FY24 pending the Nextstellis performance.

Meanwhile, the sale has strengthened the balance sheet and provides funding support to growth opportunities; company management plans to return funds to shareholders once the MCS deal is completed.

But it's early days, says the broker, and the outlook for generics is still tough.

Buy rating retained, and target price retraces to 51c from 55c, after accounting for MCS and a $150m buyback.

This report was published on August 16, 2022.

Target price is $0.51 Current Price is $0.36 Difference: $0.15
If MYX meets the Canaccord Genuity target it will return approximately 42% (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 3.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 12.00.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 4.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.37.

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

PEN    PENINSULA ENERGY LIMITED

Uranium – Overnight Price: $0.16

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

Peninsula Energy is aiming for a final investment decision in the 2H of 2022 for the Lance Uranium Project after the company released what Canaccord Genuity feels is a conservative definitive feasibility study.

The study excluded upside contained within the large Barber area (31.9mlb resource), which the analyst suggests forms a large part of the investment case for Peninsula Energy.

Given this exclusion, and the current inflationary backdrop, the broker lowers its target to $0.40 from $0.43. The Speculative Buy rating is maintained.

This report was published on August 16, 2022.

Target price is $0.40 Current Price is $0.16 Difference: $0.24
If PEN meets the Canaccord Genuity target it will return approximately 150% (excluding dividends, fees and charges).

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


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

Shaw and Partners updates its financial model for Peninsula Energy's release of a definitive feasibility study for its Lance Projects in Wyoming, resulting in a $0.34 target, down from $0.40.

The company assumes steady-state production of 2mlbs from year 4 (around FY28) to produce 14mlbs across the life-of-mine. Life-of-mine all-in-costs are expected to be US$46/lb.

The Lance Projects final investment decision is expected in the 2H of 2022, with commissioning and ramp-up early next year. The Buy rating is maintained.

This report was published on August 16, 2022.

Target price is $0.34 Current Price is $0.16 Difference: $0.18
If PEN meets the Shaw and Partners target it will return approximately 113% (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 160.00.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 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 40.00.

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

PSQ    PACIFIC SMILES GROUP LIMITED

Healthcare services – Overnight Price: $1.57

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

FY22 results revealed a tough year for Pacific Smiles, with the pandemic affecting patient volumes and profitability. Wilsons points out a fixed cost base made margin stability a near impossible task. The company will favour brownfield investment in FY23.

The main issue the broker contemplates is whether the long-awaited recovery in trading conditions has arrived. Hence, given the uncertainty, a Market Weight rating is maintained and the target is reduced to $1.67 from $1.95.

This report was published on August 18, 2022.

Target price is $1.67 Current Price is $1.57 Difference: $0.1
If PSQ meets the Wilsons target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 2.00 cents and EPS of 2.80 cents.
At the last closing share price the estimated dividend yield is 1.27%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 56.07.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 4.00 cents and EPS of 4.80 cents.
At the last closing share price the estimated dividend yield is 2.55%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 32.71.

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

RDY    READYTECH HOLDINGS LIMITED

Software & Services – Overnight Price: $3.26

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

ReadyTech Holdings has provided Wilsons with a "positive surprise" on forecast margins for FY23, expected to be 35-36%.

The business is delivering operating leverage in all segments and this is expected to continue in FY23-24 with a tailwind from CPI-linked contracts and scheduled price rises.

FY22 revenue beat estimates driven by a strong performance in government and justice. Wilsons is increasingly confident in the company's ability to achieve its medium-term targets and retains an Overweight rating. Target is raised to $4.18 from $3.46.

This report was published on August 17, 2022.

Target price is $4.18 Current Price is $3.26 Difference: $0.92
If RDY meets the Wilsons target it will return approximately 28% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 37.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.72.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 31.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.48.

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

SCP    SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP RE LIMITED

REITs – Overnight Price: $2.81

Jarden rates ((SCP)) as Buy (1) –

Jarden considers the conservative approach to valuing the group's assets in a rising interest rate environment, plus the rebasing of debt costs on a mark to market basis in FY23 and the 1H24, as a positive.

The analyst highlights Shopping Centres Australasia Property will be able to return to a more "normal" growth trajectory in the 2H24 as peers in the REIT sector are dealing with hedging rollovers.

The broker's forecasts are adjusted marginally for higher debt costs and Jarden continues to prefer the Convenience Retail sector with growth from existing anchor tenants, alongside acquisition opportunities.

Buy rating maintained. Target is reduced to $3.20 from $3.45.

This report was published on August 16, 2022.

Target price is $3.20 Current Price is $2.81 Difference: $0.39
If SCP meets the Jarden target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.84, suggesting upside of 0.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 15.00 cents and EPS of 17.20 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.9, implying annual growth of -61.6%.
Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 14.90 cents and EPS of 17.00 cents.
At the last closing share price the estimated dividend yield is 5.30%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.53.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.8, implying annual growth of -0.6%.
Current consensus DPS estimate is 15.0, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 16.7.

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


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

Shopping Centres Australasia Property provided FY22 adjusted earnings (FFO) of 15.3c per security broadly in line with guidance. FY23 AFFO guidance is 15c per security. The latter assumes an average base interest rate of 3% and no acquisitions.

Moelis envisages several  avenues for earnings growth stemming from a strong outlook for specialty rents and anchor tenants that are somewhat linked to the CPI, as well as the longer-term contribution from funds management.

The broker considers the current valuation undemanding yet downgrades to Hold from Buy following a strong share price performance since June. Target is reduced to $2.95 from $2.97.

This report was published on August 16, 2022.

Target price is $2.95 Current Price is $2.81 Difference: $0.14
If SCP meets the Moelis target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.84, suggesting upside of 0.9%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Moelis forecasts a full year FY23 dividend of 15.00 cents and EPS of 17.10 cents.
At the last closing share price the estimated dividend yield is 5.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.43.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.9, implying annual growth of -61.6%.
Current consensus DPS estimate is 15.1, implying a prospective dividend yield of 5.4%.
Current consensus EPS estimate suggests the PER is 16.6.

Forecast for FY24:

Moelis forecasts a full year FY24 dividend of 15.10 cents and EPS of 17.20 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 16.34.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 16.8, implying annual growth of -0.6%.
Current consensus DPS estimate is 15.0, implying a prospective dividend yield of 5.3%.
Current consensus EPS estimate suggests the PER is 16.7.

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

SGF    SG FLEET GROUP LIMITED

Vehicle Leasing & Salary Packaging – Overnight Price: $2.65

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

SG Fleet's FY22 result was broadly in line with Canaccord Genuity's forecasts, weakness in the SG Fleet business being pretty much as expected as operating costs, particularly at the staff level, continued to bite.

Management expects supply chain disruptions to continue through FY23 and the pipeline continues to grow.

Canaccord Genuity says feedback from manufacturers suggests a staged recovery in production in 2023 so the broker reduces delivery forecasts for FY23.

Overall, cash generation was solid and the company's market position strengthened after the LeasePlan transaction, offering many opportunities for product and services expansion and accelerated organic growth, opines the broker.

Buy rating retained. Target price eases to $3.51 from $3.66.

This report was published on August 17, 2022.

Target price is $3.51 Current Price is $2.65 Difference: $0.86
If SGF meets the Canaccord Genuity target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 15.00 cents and EPS of 23.00 cents.
At the last closing share price the estimated dividend yield is 5.66%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.52.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 16.00 cents and EPS of 25.00 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 10.60.

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

SGM    SIMS LIMITED

Steel & Scrap – Overnight Price: $16.04

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

Sims' FY22 earnings were in line with both Jarden and consensus estimates, with the company providing a "cautious" outlook for FY23.

The broker points to the reported fall of ferrous scrap prices from a March peak of US$700/t compared to US$320-$400t at the start of FY23.

Looking to the year ahead, Jarden highlights the weakening macro outlook, including a slower recovery in China from lockdowns as well as uncertainty in Europe. The US to date has remained stable by comparison.

The broker's earnings forecasts are cut by -10.5% for FY23 and -12.3% for FY24 and Sims reports an increase in sustaining and environmental capital expenditure to -S$220m from -US$150m.

An Overweight rating and a reduced price target to $16 from $16.70.

This report was published on August 16, 2022.

Target price is $16.00 Current Price is $16.04 Difference: minus $0.04 (current price is over target).
If SGM meets the Jarden target it will return approximately minus 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).
Current consensus price target is $16.57, suggesting upside of 3.3%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 44.00 cents and EPS of 146.50 cents.
At the last closing share price the estimated dividend yield is 2.74%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.95.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 150.4, implying annual growth of N/A.
Current consensus DPS estimate is 50.7, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 10.7.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 44.20 cents and EPS of 147.50 cents.
At the last closing share price the estimated dividend yield is 2.76%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.87.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 123.7, implying annual growth of -17.8%.
Current consensus DPS estimate is 42.4, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 13.0.

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

SLR    SILVER LAKE RESOURCES LIMITED

Gold & Silver – Overnight Price: $1.39

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

Canaccord Genuity highlights FY22 sales for Silver Lake Resources were in line with expectations while costs were higher from labour shortages.

FY22 gold sales were 237koz and the company ended the financial year with cash and bullion up 9% to $314m and no debt on the balance sheet.

Silver Lake Resources has guided to 8% growth in FY23 or 260-290koz, a slight miss on the broker's expectations, with improving grades at Deflector and increased mill feed at Mt Monger, boosting the 2H23.

The broker's earnings forecasts are adjusted for lower sales, higher costs and capital expenditure in FY23 by -14% for EBITDA and -46% for free cashflow.

Silver Lake Resources' Buy rating is retained. Target price falls to $1.75 from $1.80.

This report was published on August 16, 2022.

Target price is $1.75 Current Price is $1.39 Difference: $0.36
If SLR meets the Canaccord Genuity target it will return approximately 26% (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 9.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.44.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of 13.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.69.

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

STN    SATURN METALS LIMITED

Gold & Silver – Overnight Price: $0.28

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

Shaw and Partners continues to laud the metallurgical recoveries from Apollo Hill. Recoveries of up to 85% from heap leaching tests confirm the potential for this large, low-grade ore body to be processed via a heap leach operation.

The broker notes Saturn Metals is trading at just $27/oz of resource, a significant discount to its peer group average. The Buy rating and $0.97 target price are maintained.

This report was published on August 17, 2022.

Target price is $0.97 Current Price is $0.28 Difference: $0.69
If STN meets the Shaw and Partners target it will return approximately 246% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY22:

Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 25.45.

Forecast for FY23:

Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 28.00.

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

STX    STRIKE ENERGY LIMITED

NatGas – Overnight Price: $0.27

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

Strike Energy expects first sales in the March 2023 quarter, after announcing a -$7.9m commitment for its 55% share in the development of the Walyering gas project, the company's first producing asset.

Bell Potter is impressed by the speed from discovery to first production, which should enable benefits from the currently tight West Australian domestic gas markets.

The broker's Speculative Buy rating is retained, while the target is adjusted to $0.41 from $0.42.

This report was published on August 16, 2022.

Target price is $0.41 Current Price is $0.27 Difference: $0.14
If STX 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 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 67.50.

Forecast for FY23:

Bell Potter 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 54.00.

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

TPW    TEMPLE & WEBSTER GROUP LIMITED

Furniture & Renovation – Overnight Price: $5.17

Canaccord Genuity rates ((TPW)) as Downgrade to Hold from Buy (3) –

Temple & Webster's FY22 earnings sharply outpaced Canaccord Genuity's forecasts, despite softening revenue, thanks largely to a reduction in market costs and core operating expenditure.

But the FY23 opening trade has disappointed as tough competition post covid kicks in, and the inflation and growth environment remains uncertain. But management guides to double-digit growth later in FY23, once the lockdowns have been "lapped".

Despite weaker demand, earnings (EBITDA) margin guidance has been upgraded to 3% to 5% in FY23 from 2% to 4%, thanks to cost and margin beat.

The balance sheet remains strong, opening the door to M&A or capital management, says the broker.

Target price rises to $5.60 from $5.20. Rating is downgraded to Hold from Buy to reflect the share price rally since the result.

This report was published on August 16, 2022.

Target price is $5.60 Current Price is $5.17 Difference: $0.43
If TPW meets the Canaccord Genuity target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.09, suggesting upside of 17.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Canaccord Genuity forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 6.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 86.17.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.8, implying annual growth of -21.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 66.3.

Forecast for FY24:

Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of 8.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 64.63.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.5, implying annual growth of 34.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 49.2.

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


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

Temple & Webster reported FY22 earnings at the upper end of guidance, with lower marketing and advertising costs contributing to the bottom line. Jarden assesses revenue was up 31% for the year and in line with expectations.

Updated trading results for the weeks post June 30 until August 14 showed sales revenue down -21% in July and -17% in August from the covid impacted period a year earlier, and suggests both Jarden and consensus FY23 forecast revenue growth is too high.

After adjusting for higher margins and a -10% decline in revenue estimates for FY23, Jarden raises EPS forecasts by 74% for FY23 and 23% for FY24.

The target price is adjusted to $6.29 from $4.05. Overweight.

This report was published on August 16, 2022.

Target price is $6.29 Current Price is $5.17 Difference: $1.12
If TPW meets the Jarden target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $6.09, suggesting upside of 17.7%(ex-dividends)
The company's fiscal year ends in June.

Forecast for FY23:

Jarden forecasts a full year FY23 dividend of 0.00 cents and EPS of 8.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 60.82.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 7.8, implying annual growth of -21.5%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 66.3.

Forecast for FY24:

Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 10.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 50.69.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 10.5, implying annual growth of 34.6%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 49.2.

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

WSP    WHISPIR LIMITED

Cloud services – Overnight Price: $1.08

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

Wilsons notes revenue growth of 48% in FY22 while EBITDA improved on the back of the cost optimisation program. Australasia accounted for virtually all revenue growth.

The broker was disappointed there was no formal guidance provided. Overall, revenue growth is expected to be materially lower in FY23 as strong transaction volumes are cycled.

The main catalyst for Whispir is obtaining significant customer numbers on SingTel, which the broker does not expect will occur until the second half of FY23. Another catalyst would be a large reputable contract gain in North America.

Overweight maintained. Target is reduced to $1.84 from $3.05.

This report was published on August 18, 2022.

Target price is $1.84 Current Price is $1.08 Difference: $0.76
If WSP meets the Wilsons target it will return approximately 70% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 8.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 13.17.

Forecast for FY24:

Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus 6.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 16.62.

Market Sentiment: 1.0
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

360 ABP BHP BPT BSL CGF CQE CSL EHL FFX GMG GOZ GUD JHX LLL LOT MNY MSB MYX PEN PSQ RDY SCP SGF SGM SLR STN STX TPW WSP

For more info SHARE ANALYSIS: 360 - LIFE360 INC

For more info SHARE ANALYSIS: ABP - ABACUS PROPERTY GROUP

For more info SHARE ANALYSIS: BHP - BHP GROUP LIMITED

For more info SHARE ANALYSIS: BPT - BEACH ENERGY LIMITED

For more info SHARE ANALYSIS: BSL - BLUESCOPE STEEL LIMITED

For more info SHARE ANALYSIS: CGF - CHALLENGER LIMITED

For more info SHARE ANALYSIS: CQE - CHARTER HALL SOCIAL INFRASTRUCTURE REIT

For more info SHARE ANALYSIS: CSL - CSL LIMITED

For more info SHARE ANALYSIS: EHL - EMECO HOLDINGS LIMITED

For more info SHARE ANALYSIS: FFX - FIREFINCH LIMITED

For more info SHARE ANALYSIS: GMG - GOODMAN GROUP

For more info SHARE ANALYSIS: GOZ - GROWTHPOINT PROPERTIES AUSTRALIA

For more info SHARE ANALYSIS: GUD - G.U.D. HOLDINGS LIMITED

For more info SHARE ANALYSIS: JHX - JAMES HARDIE INDUSTRIES PLC

For more info SHARE ANALYSIS: LLL - LEO LITHIUM LIMITED

For more info SHARE ANALYSIS: LOT - LOTUS RESOURCES LIMITED

For more info SHARE ANALYSIS: MNY - MONEY3 CORPORATION LIMITED

For more info SHARE ANALYSIS: MSB - MESOBLAST LIMITED

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

For more info SHARE ANALYSIS: PEN - PENINSULA ENERGY LIMITED

For more info SHARE ANALYSIS: PSQ - PACIFIC SMILES GROUP LIMITED

For more info SHARE ANALYSIS: RDY - READYTECH HOLDINGS LIMITED

For more info SHARE ANALYSIS: SGF - SG FLEET GROUP LIMITED

For more info SHARE ANALYSIS: SGM - SIMS LIMITED

For more info SHARE ANALYSIS: SLR - SILVER LAKE RESOURCES LIMITED

For more info SHARE ANALYSIS: STN - SATURN METALS LIMITED

For more info SHARE ANALYSIS: STX - STRIKE ENERGY LIMITED

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

For more info SHARE ANALYSIS: WSP - WHISPIR LIMITED