Australian Broker Call
February 23, 2017
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COMPANIES DISCUSSED IN THIS ISSUE
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The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
Last Updated: 02:08 PM
Your daily news report on the latest recommendation, valuation, forecast and opinion changes.
This report includes concise but limited reviews of research recently published by Stockbrokers, 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.
For more info about the different terms used by stockbrokers, as well as the different methodologies behind similar sounding ratings, download our guide HERE
Today's Upgrades and Downgrades
| ALU - | ALTIUM | Upgrade to Outperform from Neutral | Credit Suisse |
| APA - | APA | Upgrade to Buy from Accumulate | Ord Minnett |
| APO - | APN OUTDOOR | Upgrade to Add from Hold | Morgans |
| BKL - | BLACKMORES | Downgrade to Neutral from Outperform | Credit Suisse |
| CCL - | COCA-COLA AMATIL | Downgrade to Neutral from Buy | Citi |
| Downgrade to Equal-weight from Overweight | Morgan Stanley | ||
| GFY - | GODFREYS | Downgrade to Neutral from Outperform | Credit Suisse |
| HUO - | HUON AQUACULTURE | Upgrade to Accumulate from Hold | Ord Minnett |
| IAG - | INSURANCE AUSTRALIA | Upgrade to Neutral from Underperform | Credit Suisse |
| Downgrade to Underperform from Neutral | Macquarie | ||
| IRE - | IRESS MARKET TECHN | Upgrade to Accumulate from Hold | Ord Minnett |
| ISD - | ISENTIA | Downgrade to Hold from Buy | Deutsche Bank |
| MMS - | MCMILLAN SHAKESPEARE | Upgrade to Buy from Neutral | Citi |
| Upgrade to Outperform from Neutral | Macquarie | ||
| SBM - | ST BARBARA | Downgrade to Neutral from Outperform | Macquarie |
| WOW - | WOOLWORTHS | Downgrade to Underperform from Neutral | Credit Suisse |
| WTC - | WISETECH GLOBAL | Downgrade to Neutral from Outperform | Macquarie |
Macquarie rates AGI as Outperform (1) -
First half results were slightly below the broker's expectations. Both the Australian and Americas divisions were weak, but the company expects a turnaround in the second half.
Increased research and development activities, together with the Novomatic synergies, should produce an increased pipeline of new product offerings across the market. FY17 earnings forecasts rise by 6.9% and FY18 and FY19 forecasts drop by -69% and -3.1% respectively.
Outperform and $2.04 target retained.
Target price is $2.04 Current Price is $1.70 Difference: $0.34
If AGI meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $1.91, suggesting upside of 13.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of 14.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.0, implying annual growth of -5.9%. Current consensus DPS estimate is 3.3, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 10.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 17.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.6, implying annual growth of -2.5%. Current consensus DPS estimate is 5.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 10.8. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AJA as Accumulate (2) -
Astro Japan's FY16 result was above Ord Minnett's forecast, mostly due to a stronger JPY against the AUD.
Astro trades at a 19% discount to net tangible assets, the broker notes, but management's intention to deploy cash at hand to increase earnings and distributions should help close the NTA gap. Accumulate retained. Target rises to $7.50 from $7.49.
Target price is $7.50 Current Price is $6.21 Difference: $1.29
If AJA meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 41.00 cents and EPS of 60.00 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 40.00 cents and EPS of 62.00 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ALU as Upgrade to Outperform from Neutral (1) -
First half results were ahead of expectations and the company has reiterated its target for long-term revenue of US$200m by FY20. Credit Suisse believes targets are within reach.
The broker acknowledges the stock is not cheap but believes this should be viewed in the context of over 20% growth in earnings per share, and multiple avenues for further incremental growth. Rating is upgraded to Outperform from Neutral. Target is raised to $9.50 from $9.00.
Target price is $9.50 Current Price is $7.80 Difference: $1.7
If ALU meets the Credit Suisse target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $9.12, suggesting upside of 20.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 21.94 cents and EPS of 22.71 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.4, implying annual growth of 5.4%. Current consensus DPS estimate is 21.5, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 29.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 26.30 cents and EPS of 26.87 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.8, implying annual growth of 17.3%. Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 25.5. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates APA as Sell (5) -
Citi suspects the top end of FY17 EBITDA guidance - $1.43-45bn - will be beaten, as historically the company likes to guide conservatively.
In an environment of rising interest rates Citi believes APA is the worst positioned in the sector. Moreover, with growth seemingly a choice between higher risk or lower return, the broker believes the long-term outlook is challenging.
Sell rating retained. Target is raised to $7.99 from $7.82.
Target price is $7.99 Current Price is $8.71 Difference: minus $0.72 (current price is over target).
If APA meets the Citi target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 43.50 cents and EPS of 21.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 45.50 cents and EPS of 23.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates APA as Underperform (5) -
First half EBITDA was ahead of estimates. Credit Suisse suspects the retention of the full year guidance range implies a slowing in the second half.
While the broker believes management can deliver on its $1.5bn capex target, high gas prices and a lack of supply response limits opportunities. Underperform rating retained. Target is raised to $8.10 from $7.95.
Target price is $8.10 Current Price is $8.71 Difference: minus $0.61 (current price is over target).
If APA meets the Credit Suisse target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 43.50 cents and EPS of 18.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 45.68 cents and EPS of 19.87 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates APA as Buy (1) -
First half results were slightly above forecasts. Deutsche Bank believes the higher cash coverage of the distribution reflects a strategy to retain a larger proportion of cash to help fund growth ambitions.
The company's dominant position coupled with strong cash and growth opportunities is supporting the Buy rating while the broker retains a $10.75 target.
Target price is $10.75 Current Price is $8.71 Difference: $2.04
If APA meets the Deutsche Bank target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 45.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 47.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates APA as Neutral (3) -
APA Group's first half results were better than the broker had expected. FY17 guidance is for the top end of the $1,425m to $1,445m range.
The broker notes the good result was not reflected in the uplift to guidance, continuing to reflect management's conservative approach. Macquarie's has raised FY17 forecasts by 0.9% and FY18 forecasts by 2.3%. FY19 forecasts drop 0.1%.
Neutral rating retained and target raised to $9.42 from $9.27.
Target price is $9.42 Current Price is $8.71 Difference: $0.71
If APA meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 43.50 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 45.40 cents and EPS of 21.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates APA as Underweight (5) -
First half results were slightly ahead of expectations. Morgan Stanley believes it useful to monitor company views on the growth areas. The broker also believes investors would like to know more about the risks and opportunities in renewable relative to the existing portfolio.
The company is foremost a gas pipeline company and its key project is the Western Slopes pipeline, subject to a final investment decision on the Santos ((STO)) Narrabri gas project.
The broker retains an Underweight rating. Cautious industry view. Target is $7.26.
Target price is $7.26 Current Price is $8.71 Difference: minus $1.45 (current price is over target).
If APA meets the Morgan Stanley target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 44.50 cents and EPS of 22.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 48.50 cents and EPS of 24.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates APA as Hold (3) -
First half results were in line with expectations. Morgans observes distribution guidance is unchanged and, given the company has started to pay tax, the dividend will come with a small amount of franking.
There were no material changes to guidance or the company's targets for FY17-19. A Hold rating is retained. Target is $8.52.
Target price is $8.52 Current Price is $8.71 Difference: minus $0.19 (current price is over target).
If APA meets the Morgans target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 43.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 45.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates APA as Upgrade to Buy from Accumulate (1) -
First half operating earnings beat forecasts. Ord Minnett remains positive on the stock, believing the regulatory headwinds that have affected it in the past are now behind.
The broker upgrades to Buy from Accumulate Target is raised to $10.90 from $10.30.
Target price is $10.90 Current Price is $8.71 Difference: $2.19
If APA meets the Ord Minnett target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $8.99, suggesting upside of 5.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 44.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 22.5, implying annual growth of 39.8%. Current consensus DPS estimate is 43.8, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 37.9. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 48.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of 13.3%. Current consensus DPS estimate is 46.5, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 33.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates APE as Hold (3) -
2016 results were in line with recent guidance. Morgans believes the company is executing well in a difficult operating environment.
The broker expects the company will continue to consolidate the sector and achieve its goal of controlling a 10% share of the domestic automotive market.
Clarity on the regulatory review by ASIC into financing practices in the industry is required before the broker becomes more positive on the stock. Hold retained. Target is reduced to $10.59 from $11.15.
Target price is $10.59 Current Price is $9.23 Difference: $1.36
If APE meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $10.81, suggesting upside of 16.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 37.00 cents and EPS of 56.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.1, implying annual growth of N/A. Current consensus DPS estimate is 38.0, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 16.2. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 38.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.0%. Current consensus DPS estimate is 38.4, implying a prospective dividend yield of 4.2%. 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
Ord Minnett rates APE as Hold (3) -
AP Eagers' result was in line with recently updated guidance. Underlying performance is strong and given its scale, the company should enjoy competitive advantage, the broker suggests. But regulatory uncertainty clouds the outlook.
It's too early to predict the outcome of the regulatory review. Hold retained. Target rises to $10.10 from $9.65.
Target price is $10.10 Current Price is $9.23 Difference: $0.87
If APE meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $10.81, suggesting upside of 16.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 35.00 cents and EPS of 55.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.1, implying annual growth of N/A. Current consensus DPS estimate is 38.0, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 16.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 36.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.0%. Current consensus DPS estimate is 38.4, implying a prospective dividend yield of 4.2%. 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
Credit Suisse rates APN as Outperform (1) -
2016 EBITDA was up 14% but Credit Suisse observes comparisons are complicated by some major transactions that occurred in the year.
The broker believes Adshel is well positioned to outperform the fast-growing outdoor market in the near term because of a greater opportunity for digital conversions.
Outperform retained. Target is raised to $3.30 from $3.20.
Target price is $3.30 Current Price is $2.64 Difference: $0.66
If APN meets the Credit Suisse target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $3.31, suggesting upside of 25.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 10.34 cents and EPS of 20.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of N/A. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.78 cents and EPS of 21.56 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of -2.1%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates APN as Buy (1) -
2016 results were ahead of forecasts. Given the recent restructure, Deutsche Bank was encouraged by the performance of key assets.
Growth is continuing in the first few weeks of 2017, the broker observes, albeit volatile. Buy rating and $3.50 target unchanged.
Target price is $3.40 Current Price is $2.64 Difference: $0.76
If APN meets the Deutsche Bank target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $3.31, suggesting upside of 25.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 10.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of N/A. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 13.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of -2.1%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates APN as Outperform (1) -
APN's 2016 results were a mixed bag for the broker. Radio earnings were down -0.6% in the second half, driven by weak mid-year ratings. Adshel delivered another strong result, outpacing a fast growing outdoor market across Australia and NZ.
Recent transactions have left APN with no print exposure, removing a long standing restraint on earnings. Macquarie believes improvement in the radio business and continued growth in outdoor will lead to sustained earnings growth.
Outperform and $3.35 target retained.
Target price is $3.35 Current Price is $2.64 Difference: $0.71
If APN meets the Macquarie target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $3.31, suggesting upside of 25.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 9.10 cents and EPS of 22.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.1, implying annual growth of N/A. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 10.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 9.60 cents and EPS of 24.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of -2.1%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 11.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates APO as Neutral (3) -
2016 results were in line with expectations. Credit Suisse is now looking to March 16 when the ACCC will hand down its ruling on the merger proposal with oOh!media ((OML)).
The broker envisages value, should the deal proceed, but uncertainty surrounding the regulatory response in the light of high market shares warrants caution. Neutral retained. Target rises to $6.30 from $6.10.
Target price is $6.30 Current Price is $6.09 Difference: $0.21
If APO meets the Credit Suisse target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $6.36, suggesting upside of 4.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 17.99 cents and EPS of 33.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of N/A. Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 16.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 21.03 cents and EPS of 37.42 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 8.5%. Current consensus DPS estimate is 22.7, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates APO as Upgrade to Add from Hold (1) -
The company's 2016 results were in line with the broker's estimates. Digital screens grew by 31 in the second half, providing strong revenue uplift potential.
Regardless of the outcome of the ACCC ruling on the proposed merger with oOh! media ((OML)) the broker still considers the stock looks cheap relative to its growth profile.
Morgans upgrades to Add from Hold and the target price rises to $6.37 from $5.66.
Target price is $6.37 Current Price is $6.09 Difference: $0.28
If APO meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.36, suggesting upside of 4.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 21.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of N/A. Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 16.8. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 24.00 cents and EPS of 41.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 8.5%. Current consensus DPS estimate is 22.7, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates APO as Buy (1) -
Having moved guidance both up and down over the course of the year, APN Outdoor's 2016 result beat most recent guidance, and the broker. Digitisation, new contract wins and M&A were the drivers. Management elected not to provide 2017 guidance.
The outlook is nevertheless very much dependent on the ACCC's decision over the proposed merger with oOh!Media ((OML)). The broker is unsure as to whether the regulator will look at the outdoor market in isolation (bad) or the advertising market in general (good).
Buy and $6.00 target retained.
Target price is $6.00 Current Price is $6.09 Difference: minus $0.09 (current price is over target).
If APO meets the UBS target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.36, suggesting upside of 4.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 21.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of N/A. Current consensus DPS estimate is 20.7, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 16.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 23.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.4, implying annual growth of 8.5%. Current consensus DPS estimate is 22.7, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates ARB as Neutral (3) -
First half revenue was below forecasts but characterised by strong growth in exports.
Citi believes the stock is well positioned for solid growth through product development and increased distribution capabilities.
Neutral rating retained. Target is raised to $16.77 from $16.26.
Target price is $16.77 Current Price is $15.63 Difference: $1.14
If ARB meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $16.17, suggesting upside of 10.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 34.00 cents and EPS of 62.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.9, implying annual growth of 6.7%. Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 23.0. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 37.00 cents and EPS of 71.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.9, implying annual growth of 12.5%. Current consensus DPS estimate is 37.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 20.4. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ARB as Neutral (3) -
ARB's first half results were slightly below the broker's estimates. No specific guidance was forthcoming.
Two new stores were opened in December, taking the total number of stores to 58, and three more are planned for the second half. Macquarie has lowered FY17 and FY18 forecasts by -5%.
Neutral retained and target reduced to $16.50 from $17.65.
Target price is $16.50 Current Price is $15.63 Difference: $0.87
If ARB meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $16.17, suggesting upside of 10.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 36.00 cents and EPS of 62.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.9, implying annual growth of 6.7%. Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 23.0. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 30.60 cents and EPS of 68.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.9, implying annual growth of 12.5%. Current consensus DPS estimate is 37.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 20.4. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ARB as Lighten (4) -
ARB's result fell short of the broker. Sales were still robust but moderated slightly form recent trends.
ARB rode out the downturn in commodities by rolling out more stores in the Aust market, the broker notes. But the broker's forecasts now sit below consensus and given the stock's PE has doubled over the past five years, the broker retains Lighten. Target falls to $13.60 from $14.23.
Target price is $13.60 Current Price is $15.63 Difference: minus $2.03 (current price is over target).
If ARB meets the Ord Minnett target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $16.17, suggesting upside of 10.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 34.00 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.9, implying annual growth of 6.7%. Current consensus DPS estimate is 35.0, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 23.0. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 40.00 cents and EPS of 72.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.9, implying annual growth of 12.5%. Current consensus DPS estimate is 37.3, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 20.4. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates ATL as Add (1) -
First half results were ahead of expectations. Incorporating recent acquisitions, Morgans raises FY18 EBIT forecasts by 5.7% and FY19 by 4.2%.
The broker believes double digit growth is possible as the company penetrates the new RV sales market.
Add rating and target of $1.44 retained.
Target price is $1.44 Current Price is $1.28 Difference: $0.16
If ATL meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 2.50 cents and EPS of 9.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 5.00 cents and EPS of 10.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates BKL as Downgrade to Neutral from Outperform (3) -
First half underlying EBITDA missed expectations. While Credit Suisse believes the worst is behind the company the road ahead is not smooth.
March/June quarter revenue could be flat sequentially, with weaker seasonality in China, while cost savings continue to be re-invested in price.
The company appears to the broker to be behind competitors in building up its China presence. Rating is downgraded to Neutral from Outperform. Target is reduced to $110 from $125.
Target price is $110.00 Current Price is $104.53 Difference: $5.47
If BKL meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $111.83, suggesting upside of 9.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 290.00 cents and EPS of 361.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 391.0, implying annual growth of -32.7%. Current consensus DPS estimate is 290.3, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 370.00 cents and EPS of 468.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 491.7, implying annual growth of 25.8%. Current consensus DPS estimate is 366.0, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 20.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates BKL as Hold (3) -
First half net profit was slightly below forecasts. While operating conditions are improving, Morgans envisages challenges remain.
The brand is strong and leveraged to favourable industry dynamics yet, given its premium multiple, the broker retains a Hold rating while there is short-term uncertainty. Target falls to $105.50 from $110.00.
Target price is $105.50 Current Price is $104.53 Difference: $0.97
If BKL meets the Morgans target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $111.83, suggesting upside of 9.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 291.00 cents and EPS of 416.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 391.0, implying annual growth of -32.7%. Current consensus DPS estimate is 290.3, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 369.00 cents and EPS of 527.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 491.7, implying annual growth of 25.8%. Current consensus DPS estimate is 366.0, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 20.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates BKL as Accumulate (2) -
Blackmores's first half results were in line with the broker's estimates. Focus will now be on the third quarter result, as Ord Minnett believes third quarter sales will be a meaningful catalyst for the company.
The longer term outlook remains positive, and whilst the broker expects share price volatility to remain in the near term, the long term thematic of foreign consumer demand for Australian products will continue in the broker's view.
Ord Minnett maintains an Accumulate rating and $120 price target.
Target price is $120.00 Current Price is $104.53 Difference: $15.47
If BKL meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $111.83, suggesting upside of 9.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 290.00 cents and EPS of 396.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 391.0, implying annual growth of -32.7%. Current consensus DPS estimate is 290.3, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 26.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 359.00 cents and EPS of 480.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 491.7, implying annual growth of 25.8%. Current consensus DPS estimate is 366.0, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 20.7. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates CCL as Downgrade to Neutral from Buy (3) -
2016 results signal to Citi the company remains on message. Cost savings drove earnings and more is expected in Australia.
The broker upgrades forecasts for earnings per share by less than 2% and expects growth of 7% in 2017, helped by the share buy-back.
Citi downgrades to Neutral from Buy, given the rise in the share price and caution surrounding the upcoming container deposit scheme in NSW. Target is raised to $11.00 from $10.80.
Target price is $11.00 Current Price is $10.47 Difference: $0.53
If CCL meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 49.00 cents and EPS of 56.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 51.50 cents and EPS of 59.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates CCL as Neutral (3) -
2016 surpassed expectations. Credit Suisse upgrades forecasts for earnings per share by 5-6% across the forecast period. The company has announced a $350m buy-back.
Credit Suisse retains a Neutral rating. Target is raised to $10.40 from $10.30.
Target price is $10.40 Current Price is $10.47 Difference: minus $0.07 (current price is over target).
If CCL meets the Credit Suisse target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 48.00 cents and EPS of 58.36 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 49.00 cents and EPS of 59.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates CCL as Hold (3) -
The 2016 result was in line with expectations. Deutsche Bank notes volume and pricing trends remain challenging in both Australia and Indonesia but some of the cost reductions have been banked through improved margins.
The broker finds the disciplined approach to capital deployment and cash flow profile attractive and the buy-back should boost earnings growth. Hold retained. Target is $10.
Target price is $10.00 Current Price is $10.47 Difference: minus $0.47 (current price is over target).
If CCL meets the Deutsche Bank target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 50.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 51.00 cents and EPS of 60.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates CCL as Downgrade to Equal-weight from Overweight (3) -
2016 results revealed strong cash generation and the buy-back surprised Morgan Stanley although it shows the company is going well. The broker continues to like the stock and envisages little earnings risk.
Now the risk/reward is more balanced the rating is downgraded to Equal-weight from Overweight. Target is $10.50. In-Line sector view.
Target price is $10.50 Current Price is $10.47 Difference: $0.03
If CCL meets the Morgan Stanley target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 50.70 cents and EPS of 58.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 51.40 cents and EPS of 60.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CCL as Hold (3) -
Coca-Cola Amatil's 2016 results were ahead of the broker's expectations, mainly due to stronger growth in the Indonesian and PNG sectors.
The company continues to target mid single digit EPS growth over the next few years. Morgans EPS forecasts for CY17 and CY18 have been raised by 3.3% and 1.9% respectively' A $350m on market buy-back was announced.
Target rises to $10.37 from $9.50 and the Hold rating retained.
Target price is $10.37 Current Price is $10.47 Difference: minus $0.1 (current price is over target).
If CCL meets the Morgans target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 50.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 52.00 cents and EPS of 61.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CCL as Lighten (4) -
2016 net profit was in line with forecasts. Ord Minnett notes strong cash flow was aided by the progression of the cost savings program and this helped reduce debt and fund the on-market share buy-back that was announced.
The main issues the broker observes are in Australian beverages, negatively affected by structural challenges, and the volatile Indonesian business. Ord Minnett maintains a Lighten rating and raises the target to $9.50 from 9.25.
Target price is $9.50 Current Price is $10.47 Difference: minus $0.97 (current price is over target).
If CCL meets the Ord Minnett target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 48.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 49.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CCL as Neutral (3) -
Coke's result beat the broker by 3% and the company announced a buyback. The broker has upgraded forecasts by 9-10% to reflect the buyback but also a better outlook for various divisions.
Management is doing a good job of reducing costs in its core domestic fizzy drink business and investing in the higher growth Indonesian and Aust alcohol markets, the broker suggests. But costs can't be cut forever and the structural decline of fizzy drink demand will continue, with the a possible sugar tax offering up a glaring risk.
The broker is reviewing its valuation. Neutral and $7.90 target unchanged for now.
Target price is $7.90 Current Price is $10.47 Difference: minus $2.57 (current price is over target).
If CCL meets the UBS target it will return approximately minus 25% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.88, suggesting downside of -6.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 47.70 cents and EPS of 56.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.7, implying annual growth of N/A. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 49.90 cents and EPS of 59.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.8%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CLH as Hold (3) -
First half results were weaker than expected. FY17 guidance is tightened to $19.5-20.0m, with a strong second half implied.
Morgans believes it is too early to judge the strategies to improve cash generation in the core PDL business and prefers to have evidence before taking a more positive view.
Target price is $1.35. Hold rating retained.
Target price is $1.35 Current Price is $1.26 Difference: $0.09
If CLH meets the Morgans target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 7.80 cents and EPS of 15.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 8.10 cents and EPS of 16.00 cents. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CLW as Underperform (5) -
Charter Hall's first report, since listing in November, was in line with Macquarie's expectations. FY17 guidance was upgraded by 1.2% to 16.2cps. The 100% payout ratio is unchanged.
The broker believes the portfolio is backed by long-term sustainable cash flows which is attractive to investors seeking income return with underlying growth.
Underperform retained and target raised to $3.88 from $3.82.
Target price is $3.88 Current Price is $3.93 Difference: minus $0.05 (current price is over target).
If CLW meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.06, suggesting upside of 2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 16.10 cents and EPS of 16.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.4, implying annual growth of N/A. Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 24.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 26.80 cents and EPS of 27.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 63.4%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 14.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CLW as Hold (3) -
CLW reported earnings per share of 3.4c compared to the broker's 3.5c forecast, but has only been listed for two months. FY guidance remains unchanged, boosted by the Suez acquisition.
A rock solid portfolio leaves little room for surprise, the broker suggests. Hold retained. Target rises to $4.15 from $4.14.
Target price is $4.15 Current Price is $3.93 Difference: $0.22
If CLW meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.06, suggesting upside of 2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 16.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.4, implying annual growth of N/A. Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 24.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 26.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 63.4%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 14.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CLW as Neutral (3) -
Charter Hall's new REIT posted a better inaugural REIT than the broker had forecast, but the broker was yet to incorporate the Suez acquisition. Given 100% occupancy it becomes a matter of valuation.
CLW is trading at a 1% premium to net tangible assets compared to an average 10% for peers, and is offering a 6.8% yield growing at a compound rate of 4% versus 6.6% and 2.7% for peers. Management is looking for acquisitions but nothing is imminent. Neutral and $4.16 target retained.
Target price is $4.16 Current Price is $3.93 Difference: $0.23
If CLW meets the UBS target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.06, suggesting upside of 2.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 16.30 cents and EPS of 16.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.4, implying annual growth of N/A. Current consensus DPS estimate is 16.1, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 24.2. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 26.70 cents and EPS of 26.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 63.4%. Current consensus DPS estimate is 26.8, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 14.8. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CWP as Outperform (1) -
Cedar Woods' first half results were well below expectations for the broker. FY17 guidance was upgraded to $45m NPAT. Settlements are expected to be weighted toward the second half, with over $247m in pre-sales.
Macquarie has made minor changes to forecasts, raising FY17 earnings by 1.5% and FY18 forecasts by 2.5%.
Outperform retained and target rises to $5.61 from $5.49.
Target price is $5.61 Current Price is $5.41 Difference: $0.2
If CWP meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 29.00 cents and EPS of 57.10 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 30.00 cents and EPS of 59.70 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CWP as Add (1) -
First half net profit was in line with management's guidance, albeit down 83%. FY17 net profit guidance of $45m is in line with Morgans.
The broker notes guidance is well supported by total pre-sales of $274m. Morgans retains an Add rating and believes the stock offers long-term value. Target is raised to $6.06 from $5.62.
Target price is $6.06 Current Price is $5.41 Difference: $0.65
If CWP meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 29.00 cents and EPS of 57.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 32.00 cents and EPS of 65.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates FBU as Buy (1) -
First half underlying EBIT missed expectations. The NZ$30m construction contract loss is fully taken into account in the first half.
Citi envisages the absence of such an event in the second half and the heavy skew in residential development earnings towards year end, will allow the company to comfortable meet the mid point of guidance.
Buy recommendation and NZ$11.40 target retained.
Current Price is $8.93. Target price not assessed.
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 38.52 cents and EPS of 60.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 42.27 cents and EPS of 66.42 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
Credit Suisse rates FBU as Neutral (3) -
First half results pleased Credit Suisse as management executed well, although it was somewhat tainted by a NZ$30m contract loss provision. Guidance has been reiterated for EBIT of NZ$720-760m.
The broker's EBIT forecasts are largely unchanged. A Neutral rating and NZ$10.10 target are retained.
Current Price is $8.93. Target price not assessed.
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 40.40 cents and EPS of 62.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 43.21 cents and EPS of 67.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
Deutsche Bank rates FBU as Buy (1) -
First half EBIT was below expectations but largely as a result of a one-off in the construction division.
Deutsche Bank acknowledges this is a negative but believes, as the project finishes in FY17, it does not suggest further contagion.
Buy rating is retained. Target rises to NZ$11.68 from NZ$11.16.
Current Price is $8.93. Target price not assessed.
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 39.46 cents and EPS of 65.76 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 42.27 cents and EPS of 71.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
Macquarie rates FBU as Underperform (5) -
Fletcher Building's first half results were below the broker's expectations. FY17 guidance has been retained, but this is now based on lower depreciation guidance of -3%.
The company is targeting a 1%pa real price growth across its manufactured product portfolio, and has increased confidence it can hit this target. Macquarie's FY17 to FY19 earnings forecasts remain largely unchanged.
The broker retains an Underperform rating and target drops to NZ$8.00 from NZ$8.07.
Current Price is $8.93. Target price not assessed.
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 37.58 cents and EPS of 59.84 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 38.52 cents and EPS of 57.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
Morgan Stanley rates FBU as Overweight (1) -
First half results disappointed Morgan Stanley. Nevertheless, the broker envisages the upper end of the FY17 guidance is achievable.
The key to this is an expected rebound in construction and delivery on full-year residential & land expectations.
Morgan Stanley retains an Overweight rating and In-Line industry view. Target is reduced to $10.70 from $11.73.
Target price is $10.70 Current Price is $8.93 Difference: $1.77
If FBU meets the Morgan Stanley target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 40.49 cents and EPS of 62.94 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 40.02 cents and EPS of 67.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
UBS rates FBU as Neutral (3) -
Fletcher's result came in short of the broker due to a large loss booked by the construction division relating to one specific project. Outside of construction, earnings slightly beat. The broker believes the share price response was overdone.
FY earnings guidance has been maintained on management confidence the construction loss was an isolated one-off. Neutral retained, target falls to NZ$10.05 from NZ$10.15.
Current Price is $8.93. Target price not assessed.
Current consensus price target is $10.70, suggesting upside of 16.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 39.46 cents and EPS of 62.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 61.8, implying annual growth of N/A. Current consensus DPS estimate is 39.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 39.46 cents and EPS of 65.76 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 65.8, implying annual growth of 6.5%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.0. |
This company reports in NZD. 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
Credit Suisse rates FMG as Neutral (3) -
Fortescue's first half results were in line with the broker's estimates. FY17 guidance was unchanged.
Capex estimates were raised, in line with guidance, and assumes 2mtpa of capacity creep to reach 18mtpa in FY21. Net impact is to raise FY17 earnings forecasts by 10% and FY18 forecasts by 3%.
Neutral retained and target raised to $7.35 from $6.50.
Target price is $7.35 Current Price is $6.98 Difference: $0.37
If FMG meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 45.87 cents and EPS of 118.01 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 20.26 cents and EPS of 50.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates FMG as Hold (3) -
First half net profit was in line with forecasts. Deutsche Bank is impressed with the costs, productivity and de-gearing but believes now is the time to re-invest in the business.
The broker notes the company will focus on incremental production but has the financial capacity to diversify. Hold rating retained. Target rises to $5.50 from $5.40.
Target price is $5.50 Current Price is $6.98 Difference: minus $1.48 (current price is over target).
If FMG meets the Deutsche Bank target it will return approximately minus 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 51.94 cents and EPS of 103.88 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 23.97 cents and EPS of 49.27 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates FMG as Outperform (1) -
First half results were better than the broker had expected. Dividend payout ratio had been lifted to nearly 40%.
Following the result, Macquarie has made minor changes to forecasts, lifting FY17 by 1% and FY18 by 3%. FY19 and FY20 remain largely unchanged.
Outperform rating and $7.60 target retained.
Target price is $7.60 Current Price is $6.98 Difference: $0.62
If FMG meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 32.00 cents and EPS of 65.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 17.20 cents and EPS of 26.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates FMG as Hold (3) -
First half underlying EBITDA was ahead of expectations. Morgans notes a marked pick up in earnings, with average iron ore prices rising significantly in the half.
Nevertheless, a moderation of the rally in iron ore, which the broker assumes will occur in the second half, could mean the stock quickly de-rates, given its recent performance. Hold rating retained. Target is raised to $6.33 from $6.30.
Target price is $6.33 Current Price is $6.98 Difference: minus $0.65 (current price is over target).
If FMG meets the Morgans target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 31.96 cents and EPS of 79.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 7.99 cents and EPS of 42.62 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates FMG as Accumulate (2) -
First half net profit beat forecasts. Ord Minnett likes the strength of free cash flow, the attractive valuation and the quality of management.
The broker expects the dividend is likely to grow materially in the near term, given the improvement in the balance sheet.
The broker reiterates an Accumulate rating and raises the target to $7.90 from $7.80.
Target price is $7.90 Current Price is $6.98 Difference: $0.92
If FMG meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 55.93 cents and EPS of 126.52 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 58.60 cents and EPS of 101.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FMG as Neutral (3) -
Fortescue's result came in sightly ahead of the broker but a 20c dividend missed the broker's 26c forecast, albeit at 38% the payout ratio was near the top of the 30-40% guidance range. FY guidance is unchanged and the broker's forecasts are little changed.
In terms of capital allocation, debt reduction remains the top priority, the broker notes. Neutral retained. Target rises to $7.00 from $6.70.
Target price is $7.00 Current Price is $6.98 Difference: $0.02
If FMG meets the UBS target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $6.80, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 54.60 cents and EPS of 94.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 96.9, implying annual growth of N/A. Current consensus DPS estimate is 44.0, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 7.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 35.96 cents and EPS of 51.94 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.6, implying annual growth of -43.7%. Current consensus DPS estimate is 26.6, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 12.5. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates FXJ as Sell (5) -
First half results underwhelmed Citi. The proposed separation of Domain is not expected to fix the real issues as the newspaper divisions are challenged by the need to find a sustainable, long-term online model.
Citi envisages scope for upgrades to Domain when the listings cycle recovers. Sell retained. Target is raised to 80c from 70c.
Target price is $0.80 Current Price is $0.94 Difference: minus $0.14 (current price is over target).
If FXJ meets the Citi target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 4.00 cents and EPS of 6.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 4.20 cents and EPS of 5.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates FXJ as Outperform (1) -
First half results were ahead of the broker's forecasts on lower costs. The outlook was relatively weak, with the company saying group revenue was down -10% in January and -6% in the first two weeks of February.
Domain earnings were strong, but higher costs meant underlying earning were -13% lower in the half. Credit Suisse believes a Domain demerger to be a positive step, but would need to see moves to reduce print exposure to drive a full re-rating.
Credit Suisse retains an Outperform rating and $1.10 target.
Target price is $1.10 Current Price is $0.94 Difference: $0.16
If FXJ meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 4.00 cents and EPS of 6.52 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 4.00 cents and EPS of 5.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates FXJ as Hold (3) -
First half results were slightly ahead of expectations. Deutsche Bank was surprised by the extent of the cost reductions in Australian metro and community media.
The company has confirmed plans to spin off Domain into a separate entity while retaining a 60-70% interest. This is contingent on shareholder approval and a satisfactory outcome of discussions with the ATO.
Deutsche Bank retains a Hold rating and 90c target.
Target price is $0.90 Current Price is $0.94 Difference: minus $0.04 (current price is over target).
If FXJ meets the Deutsche Bank target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 4.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 4.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates FXJ as No Rating (-1) -
First half results were slightly below the broker's expectations. Fairfax has announced a strategic review of Domain in preparation for the potential separation of Domain into a listed entity.
Macquarie has made changes to earnings forecasts, raising FY17 by 6.2% and lowering FY18 by -2.5%.
Due to research restrictions Macquarie is unable to advise its valuation on Fairfax.
Current Price is $0.94. Target price not assessed.
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 4.00 cents and EPS of 6.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.00 cents and EPS of 6.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates FXJ as Overweight (1) -
First half results were weak, as expected. Morgan Stanley notes Domain also produced an EBITDA decline, its first in five years, as a consequence of the negative listings environment.
The broker would prefer the company retained 100% of Domain and instead sold or exited other business but, if the plan to spin off Domain creates value for shareholders then it is a positive.
The broker reiterates an Overweight rating and Attractive industry view. Target is $1.20.
Target price is $1.20 Current Price is $0.94 Difference: $0.26
If FXJ meets the Morgan Stanley target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 3.10 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 3.70 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FXJ as Neutral (3) -
Fairfax' profit result beat the broker but the underlying numbers were soft. Domain earnings disappointed in declining 13% year on year. But it's academic.
With Domain set to be spun off, the issue is one of what is it worth? The broker believes Domain should trade at a premium to rival REA Group ((REA)) for various reasons, while REA's incumbency and international profile could be either positive or negative. The broker has settled on a sum-of-the-parts 90c valuation for the group, pre-demerger.
Target rises to 90c from 80c. Neutral retained.
Target price is $0.80 Current Price is $0.94 Difference: minus $0.14 (current price is over target).
If FXJ meets the UBS target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.96, suggesting upside of 2.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 4.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 4.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.2, implying annual growth of N/A. Current consensus DPS estimate is 4.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates GFY as Downgrade to Neutral from Outperform (3) -
First half results disappointed Credit Suisse, although marginally ahead of subdued expectations. Until the company can demonstrate a sustainable return to positive like-for-like growth the broker does not envisage a material re-rating emerging.
While more favourable FX should benefit margins the broker remains cautious and downgrades to Neutral from Outperform. Target is reduced to 95c from $1.35.
Target price is $0.95 Current Price is $0.90 Difference: $0.05
If GFY meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 5.02 cents and EPS of 14.12 cents. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.81 cents and EPS of 21.65 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates HLO as Hold (3) -
Strong cost reductions resulted in first half EBITDA beating forecasts by around 25%. FY17 guidance is maintained at $47-51m.
Deutsche Bank maintains a Hold rating based on valuation, despite the earnings momentum. Target is raised to $4.60 from $4.00.
Target price is $4.60 Current Price is $4.40 Difference: $0.2
If HLO meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $4.78, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.1, implying annual growth of 952.4%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 2.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 33.3%. Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates HLO as Buy (1) -
After a long history of disappointment, Helloworld is rebuilding credibility, the broker suggests. Cost-outs and synergies are running to schedule and management was "brilliant" in the period, the broker gushes, spending more efficiently on marketing, improving margins, paying down debt and delivering a solid dividend.
FY guidance was reiterated but the broker sees it as easily beatable. Buy retained. Target rises to $5.08 from $4.78.
Target price is $5.08 Current Price is $4.40 Difference: $0.68
If HLO meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $4.78, suggesting upside of 11.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 12.00 cents and EPS of 21.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.1, implying annual growth of 952.4%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 19.10 cents and EPS of 29.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 33.3%. Current consensus DPS estimate is 11.4, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates HSO as Neutral (3) -
First half results were below expectations. Citi expects hospital EBITDA growth similar to the first half.
The stock is expected to continue to underperform the industry until the opening of the Northern Beaches Hospital, scheduled for end 2018.
Neutral rating retained. Target is reduced to $2.50 from $2.55.
Target price is $2.50 Current Price is $2.37 Difference: $0.13
If HSO meets the Citi target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 7.40 cents and EPS of 10.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.0, implying annual growth of 5.8%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 21.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 7.40 cents and EPS of 11.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 5.5%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates HSO as Equal-weight (3) -
First half results were slightly better than expected, driven by the non-hospitals business.
Morgan Stanley retains an Equal-weight rating. Target is $2.39. Industry view is In-Line.
Target price is $2.39 Current Price is $2.37 Difference: $0.02
If HSO meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 7.40 cents and EPS of 10.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.0, implying annual growth of 5.8%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 21.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 8.20 cents and EPS of 11.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 5.5%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HSO as Add (1) -
Healthscope's first half results were slightly better than Morgans had expected, underpinned by continued earnings growth in the hospital division and solid performance in NZ pathology.
Morgans believes that while soft industry volumes and case mix variability remain, causing near-term uncertainty, second half growth is unlikely to deteriorate. FY17 to FY19 earnings estimates have been increased by 6.5%, offset by higher D&A and interest.
Add rating retained and target raised to $2.96 from $2.90.
Target price is $2.96 Current Price is $2.37 Difference: $0.59
If HSO meets the Morgans target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 8.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.0, implying annual growth of 5.8%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 21.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 9.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 5.5%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates HSO as Accumulate (2) -
Healthscope's first half results were slightly better than the broker had expected. Ord Minnett believes the group's full year guidance is conservative, given that it allows for deteriorating conditions and ignores the improving momentum in the first half.
The broker is confident the group will deliver strong earnings growth as the added capacity ramps up.
Accumulate retained and target reduced to $2.70 from $2.75.
Target price is $2.70 Current Price is $2.37 Difference: $0.33
If HSO meets the Ord Minnett target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 8.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.0, implying annual growth of 5.8%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 21.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 8.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 5.5%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates HSO as Buy (1) -
Healthscope's result was in line with the guidance downgrade provided in October but featured "whiplash", the broker suggests, in a modest Dec Q recovery after the Sep Q collapse. Guidance is for second half growth to match the first half.
The result suggests to the broker management is now on top of the issues that led to Sep Q weakness, and believes guidance may even prove conservative. Buy and $3.00 target retained.
Target price is $3.00 Current Price is $2.37 Difference: $0.63
If HSO meets the UBS target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $2.62, suggesting upside of 11.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 7.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.0, implying annual growth of 5.8%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 21.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 8.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.6, implying annual growth of 5.5%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates HUO as Upgrade to Accumulate from Hold (2) -
Huon's earnings result beat Ord Minnett by 22% on higher salmon prices and lower than expected costs. Management described conditions as near perfect. The broker materially upgrades forecasts on production cost guidance.
While assuming a decline ahead in wholesale prices, the broker upgrades to Accumulate from Hold noting price upside risk. Target rises to $5.31 from $4.17.
Target price is $5.31 Current Price is $4.85 Difference: $0.46
If HUO meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 4.00 cents and EPS of 52.00 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 11.00 cents and EPS of 49.00 cents. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates IAG as Neutral (3) -
First half results beat forecasts, driven by a lower tax rate and elevated reserve releases. Citi incorporates underlying margin recovery in FY18 and FY19 estimates but from a lower base.
The broker expects upgraded guidance for gross written premium in FY17 will be achieved, while the removal of the emergency services levy is likely to subdue growth in FY18.
Changes made means the target rises to $6.05 from $5.85. Neutral retained.
Target price is $6.05 Current Price is $5.92 Difference: $0.13
If IAG meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 28.00 cents and EPS of 38.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 29.00 cents and EPS of 35.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates IAG as Upgrade to Neutral from Underperform (3) -
First half net profit was ahead of forecasts. Credit Suisse upgrades to Neutral from Underperform following the underperformance of the share price and an expectation that reserve releases will continue in the near term.
The broker suspects original FY17 guidance was too optimistic and the softer underlying margin in the first half is more in line with expectations. The deterioration in the underlying margin is expected to slow or even turn around from the first half level. Target is raised to $6.05 from $5.75.
Target price is $6.05 Current Price is $5.92 Difference: $0.13
If IAG meets the Credit Suisse target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 30.00 cents and EPS of 39.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 29.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates IAG as Hold (3) -
First half results were broadly in line with expectations. The main positive was the strength of growth in gross written premium, in Deutsche Bank's view. This was up 4.7% and well ahead of guidance.
Offsetting this growth was weakness in the underlying margin. The broker's core thesis is intact, with the company operating in an attractive industry with a rational structure. Hold rating retained. Target is $5.80.
Target price is $5.80 Current Price is $5.92 Difference: minus $0.12 (current price is over target).
If IAG meets the Deutsche Bank target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 27.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 26.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates IAG as Downgrade to Underperform from Neutral (5) -
IAG's first half results were better than Macquarie's forecasts. FY17 outlook is for better premium growth, largely driven by claims inflation, offset by softer margins.
The broker has cut FY17 earnings forecasts by -0.9%, FY18 by -7.7% and FY19 by -3.3%.
Macquarie downgraded the stock to Underperform from Neutral and price target drops to $5.70 from $5.80.
Target price is $5.70 Current Price is $5.92 Difference: minus $0.22 (current price is over target).
If IAG meets the Macquarie target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 33.00 cents and EPS of 35.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 28.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates IAG as Equal-weight (3) -
First half margins were in line with estimates. Morgan Stanley believes, while margins are at an inflexion point, they are a long way from a hardening cycle.
Franchise momentum is strong and the top line upgrade is encouraging for the broker. Equal-weight rating retained and target raised to $6.30 from $6.00. Industry view is In-Line.
Target price is $6.30 Current Price is $5.92 Difference: $0.38
If IAG meets the Morgan Stanley target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 28.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 29.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates IAG as Hold (3) -
IAG's first half results were below the broker's expectations. Insurance margin compression remains a concern for the broker, with underlying margins falling from 13.7% in the second half of FY16 to 12.6% in the first half of FY17.
The company has moved to counter claims inflation with rate increases, although management noted increases are only keeping up with claims inflation in motor and CTP classes. Morgans has lowered CY17 and CY18 EPS forecats by -1.3%.
Hold rating retained and target reduced raised to $5.72 from $5.87.
Target price is $5.72 Current Price is $5.92 Difference: minus $0.2 (current price is over target).
If IAG meets the Morgans target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 27.30 cents and EPS of 35.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 27.00 cents and EPS of 35.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IAG as Hold (3) -
First half underlying results missed forecasts. Ord Minnett notes gross written premium growth was stronger than previously guided but underlying margins were weaker.
The company is trying to recoup margin through price increases. While the broker expects the improvements to come through significant upside may not be realised. Hold rating and $6.40 target retained.
Target price is $6.40 Current Price is $5.92 Difference: $0.48
If IAG meets the Ord Minnett target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 25.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 27.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IAG as Neutral (3) -
It was always going to be a challenging half for IAG, the broker suggests. The result missed on profit but gross written premium growth was much better than the broker's flat expectation. The broker feels momentum is now shifting.
The broker considers the collapse in commercial profitability was a watershed for all four major insurers dominating the SME market. The broker is Overweight the sector, but prefers Suncorp ((SUN)) and QBE ((QBE)) over IAG. Target rises to $6.00 from $5.80. Neutral retained.
Target price is $6.00 Current Price is $5.92 Difference: $0.08
If IAG meets the UBS target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $6.00, suggesting downside of -1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 28.00 cents and EPS of 41.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.7, implying annual growth of 42.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 16.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 25.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.8, implying annual growth of -2.5%. Current consensus DPS estimate is 27.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates IRE as Buy (1) -
2016 EBITDA was below forecasts. Deutsche Bank observes the lack of an impact from Brexit underscores the quality of the company's UK business.
Australasian funds management proved resilient against a challenging backdrop, the broker observes. No quantitative guidance was provided but the company is confident of strong revenue and profit growth in 2017.
Buy rating and $12.80 target retained.
Target price is $12.80 Current Price is $11.64 Difference: $1.16
If IRE meets the Deutsche Bank target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $12.57, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 44.00 cents and EPS of 48.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.0, implying annual growth of N/A. Current consensus DPS estimate is 45.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 25.2. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 48.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.5, implying annual growth of 13.5%. Current consensus DPS estimate is 54.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 22.2. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates IRE as Neutral (3) -
Iress's 2016 results were slightly below the broker's expectations. Stronger performances from the UK and South Africa were offset by offset by adverse FX and weakness in the Canadian business.
No numerical guidance was given, but management stated that ongoing successful client delivery and technology demand will translate into strong segment and profit growth in 2017.
Macquarie's FY17 earnings forecast has been reduced by -4.8%. Neutral retained and target raised to $12.28 from 11.19.
Target price is $12.28 Current Price is $11.64 Difference: $0.64
If IRE meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $12.57, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 41.00 cents and EPS of 51.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.0, implying annual growth of N/A. Current consensus DPS estimate is 45.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 25.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 58.00 cents and EPS of 58.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.5, implying annual growth of 13.5%. Current consensus DPS estimate is 54.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 22.2. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IRE as Upgrade to Accumulate from Hold (2) -
Iress' result missed Ord Minnett and consensus at the headline, and the broker expects earnings downgrades will follow, but underlying organic trends in the second half were a positive, the broker suggests. The Canadian and UK businesses appear to have bottomed.
Given conservative accounting compared to other IT stocks and very strong cash flow conversion, the broker is more confident now in medium term growth. Upgrade to Accumulate from Hold. target rises to $12.50 from $11.00
Target price is $12.50 Current Price is $11.64 Difference: $0.86
If IRE meets the Ord Minnett target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $12.57, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 51.00 cents and EPS of 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.0, implying annual growth of N/A. Current consensus DPS estimate is 45.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 25.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 58.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.5, implying annual growth of 13.5%. Current consensus DPS estimate is 54.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 22.2. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ISD as Downgrade to Hold from Buy (3) -
First half results missed expectations. Margins declined to 25.4%, reflecting losses in King Content and higher publishing costs in the core business.
Deutsche Bank observes the core Australasian business has reached a limit in its ability to harvest returns through price increases. King Content disappointed the broker, reinforcing concerns around the quality of the business and execution.
Recent trends suggest to the broker that a turnaround will be difficult, increasing the likelihood of further disappointment. Rating is downgraded to Hold from Buy. Target is reduced to $2.10 from $2.90.
Target price is $2.10 Current Price is $1.80 Difference: $0.305
If ISD meets the Deutsche Bank target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $2.34, suggesting upside of 38.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 6.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 27.0%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.0. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 8.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.4, implying annual growth of 13.0%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 9.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ISD as Outperform (1) -
iSentia's first half results were in line with the broker's estimates. The company now expects low single digit earnings growth in the ANZ and Asia software business, and a full year loss of $3m for King Content.
Macquarie has cut FY17 earnings forecasts by -21% and FY18 by -22% due to moderation in ANZ revenue assumptions.
Outperform rating retained and target reduced to $2.42 from $2.95.
Target price is $2.42 Current Price is $1.80 Difference: $0.625
If ISD meets the Macquarie target it will return approximately 35% (excluding dividends, fees and charges).
Current consensus price target is $2.34, suggesting upside of 38.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.60 cents and EPS of 13.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.4, implying annual growth of 27.0%. Current consensus DPS estimate is 7.2, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 11.0. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.60 cents and EPS of 15.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.4, implying annual growth of 13.0%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 9.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates MMS as Upgrade to Buy from Neutral (1) -
Upgrade to Buy as Citi analysts have become a lot more comfortable with the risks surrounding the QLD government contract, while momentum is seen building.
The analysts see clearly defined organic growth opportunities with Government clients while valuation is still at a considerable discount vis-a-vis other small industrials.
Despite small reductions in core profit estimates, target price jumps by 19% to $14.33 as the 15% risk discount (QLD contract) is removed.
Target price is $14.33 Current Price is $11.60 Difference: $2.73
If MMS meets the Citi target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $12.32, suggesting upside of 1.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 66.00 cents and EPS of 100.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.6, implying annual growth of 4.2%. Current consensus DPS estimate is 64.9, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 68.00 cents and EPS of 109.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.3, implying annual growth of 5.5%. Current consensus DPS estimate is 67.2, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 11.1. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MMS as Upgrade to Outperform from Neutral (1) -
First half results were just below the broker's expectations. No FY17 guidance was forthcoming, other than management's statement that early performance on the QLD contract was solid.
Macquarie has raised FY17 and FY18 earnings estimates by 0.2% and 0.6% respectively.
The broker has upgraded the stock to Outperform from Neutral and raised the target price to $13.20 from $13.17.
Target price is $13.20 Current Price is $11.60 Difference: $1.6
If MMS meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $12.32, suggesting upside of 1.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 64.00 cents and EPS of 105.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.6, implying annual growth of 4.2%. Current consensus DPS estimate is 64.9, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 66.00 cents and EPS of 110.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.3, implying annual growth of 5.5%. Current consensus DPS estimate is 67.2, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 11.1. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MMS as Underweight (5) -
The company is delivering growth in a tough trading and regulatory environment yet Morgan Stanley retains an Underweight rating as the headwinds remain.
The broker notes the disappointing performance in the retail financial services division highlights the risks behind the acquisition strategy, particularly into new business models. Morgan Stanley also envisages the growth opportunity in the UK is less attractive and more risky.
Target is $9.60. Sector view is In-Line.
Target price is $9.60 Current Price is $11.60 Difference: minus $2 (current price is over target).
If MMS meets the Morgan Stanley target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $12.32, suggesting upside of 1.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 66.80 cents and EPS of 105.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 103.6, implying annual growth of 4.2%. Current consensus DPS estimate is 64.9, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 66.80 cents and EPS of 105.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.3, implying annual growth of 5.5%. Current consensus DPS estimate is 67.2, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 11.1. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates NSR as Underperform (5) -
First half earnings were below the broker's expectations. FY17 underlying earnings guidance was reiterated at 9.2cps to 9.4cps.
While the result appears to show an improvement in underlying organic growth, Macquarie believes the company is not getting the returns it expected from its acquisitions. FY17 earnings forecast is reduced by -2.7% and FY18 forecasts raised by 1.6%.
Underperform rating retained and target falls to $1.19 from $1.42.
Target price is $1.19 Current Price is $1.46 Difference: minus $0.265 (current price is over target).
If NSR meets the Macquarie target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.52, suggesting upside of 5.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 9.70 cents and EPS of 9.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of 5.7%. Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 15.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 9.90 cents and EPS of 9.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.0, implying annual growth of 8.7%. Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates NSR as Overweight (1) -
Morgan Stanley always believed the first half would be messy and the actuals do little to ease concerns.
The broker does not believe the share price will re-rate materially until the company executes on FY17 guidance, provides better disclosure around the drivers of earnings and delivers a medium-term expansion and funding plan.
Overweight rating and $1.70 target maintained. Industry view is Cautious.
Target price is $1.70 Current Price is $1.46 Difference: $0.245
If NSR meets the Morgan Stanley target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $1.52, suggesting upside of 5.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 9.20 cents and EPS of 9.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of 5.7%. Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 15.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 9.80 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.0, implying annual growth of 8.7%. Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates NSR as Hold (3) -
While National Storage REIT's funds from operations fell short of the broker, it was a reasonably solid result, the broker suggests, given evidence of price increases now flowing through. If the REIT can execute at the asset level, it should be able to raise occupancy, the broker believes, given positive momentum.
Hold and $1.50 target retained.
Target price is $1.50 Current Price is $1.46 Difference: $0.045
If NSR meets the Ord Minnett target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.52, suggesting upside of 5.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 9.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.2, implying annual growth of 5.7%. Current consensus DPS estimate is 9.2, implying a prospective dividend yield of 6.4%. Current consensus EPS estimate suggests the PER is 15.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 9.00 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.0, implying annual growth of 8.7%. Current consensus DPS estimate is 9.6, implying a prospective dividend yield of 6.7%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates PGH as Neutral (3) -
First half results revealed organic EBITDA erosion offset the new acquisition. Credit Suisse also notes that management has indicated that prior period contract losses have now been fully absorbed and dairy industry volumes are bottoming.
The broker does not factor in further acquisitions. Neutral rating retained. Target is raised to $6.65 from $6.30.
Target price is $6.65 Current Price is $6.66 Difference: minus $0.01 (current price is over target).
If PGH meets the Credit Suisse target it will return approximately minus 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 24.00 cents and EPS of 37.02 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 27.00 cents and EPS of 41.75 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates PGH as Buy (1) -
First half results were slightly weaker than expected. Deutsche Bank's disappointment was tempered by the acquisition of contract manufacturer Pascoe's and an additional efficiency program.
The broker reduces FY17 earnings forecasts by -2%. Buy rating retained. Target is $7.20.
Target price is $7.20 Current Price is $6.66 Difference: $0.54
If PGH meets the Deutsche Bank target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 25.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 29.00 cents and EPS of 45.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates PGH as Outperform (1) -
The group's first half results were in line with the broker's estimates. FY17 guidance for revenue and profit growth was reiterated.
The $41m Pascoe acquisition represents a sensible addition to Jalco, which should represent 20% of group revenue as well as diversifying the group into new markets.
Target is raised to $7.00 from $6.65 and Outperform retained.
Target price is $7.00 Current Price is $6.66 Difference: $0.34
If PGH meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 23.30 cents and EPS of 35.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 26.20 cents and EPS of 40.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates PGH as Hold (3) -
First half results were broadly in line with expectations. Morgans notes the new contract wins, cost efficiency benefits and recent acquisitions were supportive despite lower underlying volumes.
The broker maintains a Hold rating and raises the target to $6.96 from $6.34.
Target price is $6.96 Current Price is $6.66 Difference: $0.3
If PGH meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 25.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 27.00 cents and EPS of 42.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates PGH as Accumulate (2) -
Pact's earnings result fell 3% short of the broker on lower volumes across the business. Weaker demand was seen in dairy, food & beverage and health & wellness. With trends persisting into the second half, the FY outlook is looking similar, the broker suggests.
Pact is making efforts to increase contract wins and efficiencies. The broker forecasts 13% compound annual earnings growth over the next three years and retains Accumulate. target falls to $7.00 from $7.05.
Target price is $7.00 Current Price is $6.66 Difference: $0.34
If PGH meets the Ord Minnett target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 24.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 29.00 cents and EPS of 44.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates PGH as Neutral (3) -
Pact's underlying result was in line with the broker thanks to bolt-on acquisitions and cost-outs but sales growth disappointed, due to subdued consumer demand in Aust, weak NZ dairy demand and contract losses.
The broker is forecasting 16% FY17-18 earnings growth, supported by acquisitions, the new Woolworths contract and further cost-outs. But the broker does not see outperformance until volume trends turnaround and elevated gearing is addressed.
Target rises to $6.60 from $6.20. Neutral retained.
Target price is $6.60 Current Price is $6.66 Difference: minus $0.06 (current price is over target).
If PGH meets the UBS target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.90, suggesting upside of 3.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 24.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.3, implying annual growth of 25.2%. Current consensus DPS estimate is 24.2, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 18.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 28.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.2, implying annual growth of 16.3%. Current consensus DPS estimate is 27.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 15.9. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates PRY as Neutral (3) -
First half results were below expectations. Citi downgrades FY17-19 forecasts for earnings per share by -14-16% on the back of challenges in medical centres and higher costs at pathology.
The broker finds the weakening operating performance is combining with an elevated risk of corporate action to increase volatility. Target declines to $3.50 from $4.11. Neutral retained.
Target price is $3.50 Current Price is $3.35 Difference: $0.15
If PRY meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.54, suggesting upside of 6.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 9.80 cents and EPS of 12.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of 17.4%. Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 19.6. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 10.00 cents and EPS of 16.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.5, implying annual growth of 15.4%. Current consensus DPS estimate is 12.8, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 17.0. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates QUB as Buy (1) -
First half underlying EBIT was below forecasts but Citi considers it a solid result in challlenging markets. The broker remains confident in the ability of Moorebank to deliver material savings in the supply chain.
Tenancy announcements for Moorebank are expected in the next 6-9 months. Target is reduced to $2.84 from $2.86. Buy rating retained.
Target price is $2.84 Current Price is $2.39 Difference: $0.45
If QUB meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 5.50 cents and EPS of 8.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 5.80 cents and EPS of 9.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates QUB as Hold (3) -
First half results were largely in line with expectations. Deutsche Bank does not expect a meaningful contribution from strategic assets before 2019.
Hold rating retained. Target falls to $2.30 from $2.40.
Target price is $2.30 Current Price is $2.39 Difference: minus $0.09 (current price is over target).
If QUB meets the Deutsche Bank target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 6.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 7.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates QUB as Outperform (1) -
First half results were slightly behind the broker's forecasts. Ports and bulk benefited from a significant improvement in commodity markets, lifting volumes, while strategic asset earnings fell 76%.
Macquarie expects this weakness to continue through FY17, following Defence's lease exit, and despite three new tenants for existing warehousing. FY17 earnings estimates have been reduced by -31.7% and FY18 estimates by -9%.
Target falls to $2.81 from $2.85 and Outperform retained.
Target price is $2.81 Current Price is $2.39 Difference: $0.42
If QUB meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 5.50 cents and EPS of 6.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 5.90 cents and EPS of 9.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates QUB as Equal-weight (3) -
Underlying operating EBITDA in the first half was tepid, highlighting for Morgan Stanley weakness in the core business. The broker expects this to continue, although longer-dated upside from Moorebank keeps the rating on Equal-weight.
The broker expects the challenges with Patrick will worsen as shipping lines consolidate and pricing pressure from new market entrants intensifies. Nevertheless, cost reductions are more advanced than initially indicated and this blunts some of the pressures.
Target is lowered to $2.20 from $2.40. Attractive sector view.
Target price is $2.20 Current Price is $2.39 Difference: minus $0.19 (current price is over target).
If QUB meets the Morgan Stanley target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 6.30 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 7.60 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates QUB as Add (1) -
Qube's first half results were better than the broker had expected. Profit fell short of forecast, mainly due to a weaker contribution from Patrick than expected.
There was no substantial update on Moorebank. Management is expecting underlying earnings growth in both logistics and port and bulk. Morgans is targeting 6% and 7% growth respectively.
Target falls to $2.61 from $2.63 and the Add rating retained.
Target price is $2.61 Current Price is $2.39 Difference: $0.22
If QUB meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 5.50 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 5.50 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates QUB as Buy (1) -
Qube's first half results were slightly below Ord Minnett's expectations. Logistics was pleasing to the broker, but the contribution from Patrick, and to a lesser degree, ports and bulk, was disappointing.
Following financial close on Moorebank, Qube can now commence construction and sign up new tenants. Ord Minnett has downgraded underlying NPAT estimates buy -2.2% in FY17 and -2.3% in FY18.
Buy rating retained and target reduced to $2.80 from $2.85.
Target price is $2.80 Current Price is $2.39 Difference: $0.41
If QUB meets the Ord Minnett target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 5.00 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 5.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates QUB as Buy (1) -
The broker describes Qube's result as solid, given several challenges and distractions. The Patrick acquisition led to distortions in the numbers, but underlying earnings growth was respectable given a difficult and competitive market.
Qube is a longer term story, the broker suggests, as the acquisition is bedded down and Moorebank moves towards completion. In the latter case, earnings contribution is not expected until FY21. Buy retained. Target falls to $2.80 from $2.90.
Target price is $2.80 Current Price is $2.39 Difference: $0.41
If QUB meets the UBS target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $2.58, suggesting upside of 9.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 5.50 cents and EPS of 8.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.0, implying annual growth of -2.3%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 29.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 5.50 cents and EPS of 8.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 10.0%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SBM as Buy (1) -
Interim EBITDA was in line with forecasts. Deutsche Bank's focus is now on the accretive Gwalia extension project and the continuation of drilling at Simberi.
Catalsyts are expected in the current quarter and the stock remains the broker's preferred ASX gold exposure. Buy rating and $3.10 target retained.
Target price is $3.10 Current Price is $2.86 Difference: $0.24
If SBM meets the Deutsche Bank target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $2.90, suggesting upside of 4.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of 32.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.3, implying annual growth of -14.4%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 23.2%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 7.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SBM as Downgrade to Neutral from Outperform (3) -
St Barbara's first half results were in line with the broker's expectations. The company retired $172m of debt and moved to a net cash position. The final US$20m of senior notes will be retired this quarter, leaving the company debt free.
Macquarie has raised FY17 earnings forecast by 7% while cutting longer term forecasts by 7% to 8%.
The broker downgrades the stock to Neutral from Outperform and target rises to $3.00 from $2.90.
Target price is $3.00 Current Price is $2.86 Difference: $0.14
If SBM meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.90, suggesting upside of 4.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.3, implying annual growth of -14.4%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 9.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 34.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.1, implying annual growth of 23.2%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 7.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SDF as Outperform (1) -
First half EBITA was slightly ahead of forecasts. Guidance for NPATA has been re-affirmed for FY17 at $85-90m.
Credit Suisse observes the earnings opportunity will come in FY18/19 amid potential for market-driven revenue growth which is likely to drive EBITA margin expansion.
Outperform and $2.60 target maintained.
Target price is $2.60 Current Price is $2.27 Difference: $0.33
If SDF meets the Credit Suisse target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 10.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 7.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.8, implying annual growth of 9.5%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 7.00 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of 9.3%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.0. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SDF as Outperform (1) -
Steadfast's first half results were ahead of Maquarie's forecasts. Company guidance for underlying earnings of $140m to $150m was reiterated, and given the strong first half result, the top end of this looks very achievable to the broker.
Macquarie has made upgraded underlying earnings to the top end of guidance range, lifting EPS by 3%.
Outperform rating retained and target raised to $2.50 from $2.30.
Target price is $2.50 Current Price is $2.27 Difference: $0.23
If SDF meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 10.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.50 cents and EPS of 11.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.8, implying annual growth of 9.5%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.00 cents and EPS of 12.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of 9.3%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.0. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates SDF as Buy (1) -
Steadfast's result was in line and FY guidance was reaffirmed. Management has flagged the first signs of rate improvement in the SME market, and has reiterated upside from FY18 from underwriting products and initiatives.
The result highlighted Steadfast's strength in being able to achieve solid earnings growth, despite the soft cycle, through accretive acquisitions, the broker suggests. Buy and $2.70 target retained.
Target price is $2.70 Current Price is $2.27 Difference: $0.43
If SDF meets the Ord Minnett target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 10.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 6.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.8, implying annual growth of 9.5%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.9. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 7.00 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of 9.3%. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 20.0. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates SGP as Neutral (3) -
Earnings visibility is improving and first half results suggest Stockland is on track for a solid FY17. Citi retains the stock as its preferred residential exposure and a key pick in Australian property.
The broker's research suggests a constructive backdrop for residential developers and while this is only 25-30% of the company's earnings it remains the main driver for the stock price.
Neutral retained. Target ratchets up to $4.91 from $4.90.
Target price is $4.91 Current Price is $4.58 Difference: $0.33
If SGP meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $4.78, suggesting upside of 1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 25.50 cents and EPS of 33.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.0, implying annual growth of -9.1%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 26.50 cents and EPS of 34.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.8, implying annual growth of -3.5%. Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SGP as Neutral (3) -
First half results were in line with the broker's expectations. Some timing matters in the group's residential business are expected to wash through in the second half, with the medium term outlook now a bit better than previously communicated.
Macquarie has made minor changes to earnings forecasts, raising FY17 by 0.4% and FY18 by 1%.
Neutral rating retained and target raised to $4.53 from $4.42.
Target price is $4.53 Current Price is $4.58 Difference: minus $0.05 (current price is over target).
If SGP meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.78, suggesting upside of 1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 25.50 cents and EPS of 29.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.0, implying annual growth of -9.1%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 26.30 cents and EPS of 31.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.8, implying annual growth of -3.5%. Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates SGP as Overweight (1) -
First half free funds from operations were below estimates. Morgan Stanley observes record contracts on hand and improving margins are driving residential business.
Overweight retained. Industry view: Cautious. Target is $4.45.
Target price is $4.45 Current Price is $4.58 Difference: minus $0.13 (current price is over target).
If SGP meets the Morgan Stanley target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.78, suggesting upside of 1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 25.50 cents and EPS of 29.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.0, implying annual growth of -9.1%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 26.80 cents and EPS of 30.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.8, implying annual growth of -3.5%. Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates SGP as Accumulate (2) -
First half results were largely in line with forecasts. Ord Minnett expects strong residential volumes will mean better FY17 margins and these will remain elevated for longer than previously anticipated.
The broker expects 4-7% per annum growth to FY19. Target is reduced to $5.30 from $5.40. Accumulate rating retained.
Target price is $5.30 Current Price is $4.58 Difference: $0.72
If SGP meets the Ord Minnett target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $4.78, suggesting upside of 1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 26.00 cents and EPS of 45.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.0, implying annual growth of -9.1%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 27.00 cents and EPS of 30.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.8, implying annual growth of -3.5%. Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SGP as Buy (1) -
Stockland's funds from operations growth beat the broker. Residential remains strong and the outlook remains positive, the broker suggests. A difficult retail environment offers some moderation. Guidance has been refined to the high end of the range.
The broker retains Buy and a $4.76 target, suggesting value is undemanding on a forecast 5.7% yield and 5% dividend growth over the next three years.
Target price is $4.76 Current Price is $4.58 Difference: $0.18
If SGP meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $4.78, suggesting upside of 1.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 25.50 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.0, implying annual growth of -9.1%. Current consensus DPS estimate is 25.7, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 13.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 26.70 cents and EPS of 34.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.8, implying annual growth of -3.5%. Current consensus DPS estimate is 26.7, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SIQ as Outperform (1) -
Smartgroup's 2016 results were in line with the broker's expectations. Organic growth and growth from acquisitions remained strong.
The outlook for 2017 is strong, and there is estimated to be an incremental $4.5m in synergy in CY17, mostly from Selectus as it gains access to Smartgroup's trading terms. Macquarie has raised CY17 and CY18 earnings forecast by 1.3%.
Outperform rating retained and target falls to $7.40 from $7.70.
Target price is $7.40 Current Price is $6.13 Difference: $1.27
If SIQ meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $6.77, suggesting upside of 5.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 32.30 cents and EPS of 46.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.4, implying annual growth of N/A. Current consensus DPS estimate is 30.5, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 34.50 cents and EPS of 49.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.4, implying annual growth of 11.5%. Current consensus DPS estimate is 32.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 13.2. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates SRX as Overweight (1) -
First half results were in line with guidance. Morgan Stanley likes the renewed focus on core product sales and believes this is a sign new management is prioritising a return to an historical earnings trajectory.
Reasonable growth and option value from clinical trials keeps the broker Overweight. In-Line view retained. Target rises to $26.70 from $26.60.
Target price is $26.70 Current Price is $15.75 Difference: $10.95
If SRX meets the Morgan Stanley target it will return approximately 70% (excluding dividends, fees and charges).
Current consensus price target is $25.80, suggesting upside of 57.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 25.50 cents and EPS of 79.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 81.0, implying annual growth of -13.6%. Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 30.90 cents and EPS of 96.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.0, implying annual growth of 24.7%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SRX as Hold (3) -
First half results were broadly in line. Morgans expects the soon-to-report clinical outcomes will ultimately determine the earnings trajectory.
Management has refined its strategy in response to a lower growth profile by ending non-core R&D and cutting costs, aided via a $30m share buy-back. Hold retained. Target is raised to $16.20 from $15.60.
Target price is $16.20 Current Price is $15.75 Difference: $0.45
If SRX meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $25.80, suggesting upside of 57.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 26.00 cents and EPS of 81.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 81.0, implying annual growth of -13.6%. Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 31.00 cents and EPS of 104.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.0, implying annual growth of 24.7%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SRX as Buy (1) -
Sirtex' result matched the company's January profit warning. A big drop in margins highlighted significant operating leverage in the business to benign sales growth, the broker notes. The broker applauds a "refocus" in strategy.
Liver cancer drug trials are underway, but at this level the broker sees limited downside from risk from trial disappointment. Target falls to $30.30 from $33.50. Buy retained.
Target price is $30.30 Current Price is $15.75 Difference: $14.55
If SRX meets the UBS target it will return approximately 92% (excluding dividends, fees and charges).
Current consensus price target is $25.80, suggesting upside of 57.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 24.00 cents and EPS of 78.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 81.0, implying annual growth of -13.6%. Current consensus DPS estimate is 25.4, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 20.3. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 28.00 cents and EPS of 94.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.0, implying annual growth of 24.7%. Current consensus DPS estimate is 30.7, implying a prospective dividend yield of 1.9%. Current consensus EPS estimate suggests the PER is 16.2. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SUN as Hold (3) -
Suncorp has launched a non-binding indicative proposal to acquire Tower ((TWR)) at NZ$1.30 per share.
Morgans estimates synergies in the NZ$18m to NZ$25m range and NPAT accretion of 2-3%.
Hold and $13.50 target retained.
Target price is $13.50 Current Price is $13.17 Difference: $0.33
If SUN meets the Morgans target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $13.74, suggesting upside of 3.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 73.50 cents and EPS of 92.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 91.7, implying annual growth of 12.6%. Current consensus DPS estimate is 74.2, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 14.4. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 77.00 cents and EPS of 96.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 95.8, implying annual growth of 4.5%. Current consensus DPS estimate is 76.6, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates TGR as Buy (1) -
Tassal's earnings result beat the broker by 5% despite higher production costs, thanks to increased wholesale salmon prices. Increasing exposure to wholesale should see margin expansion as cost pressures ease, the broker suggests.
There will be a drag from having to relocate volumes away from Macquarie Harbour but the broker forecasts volume growth overall. On an attractive growth profile the broker retains Buy. Target rises to $5.50 from $4.62.
Target price is $5.50 Current Price is $4.61 Difference: $0.89
If TGR meets the Ord Minnett target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $4.83, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 15.00 cents and EPS of 37.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.3, implying annual growth of -8.0%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 20.00 cents and EPS of 42.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 15.8%. Current consensus DPS estimate is 18.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TGR as Buy (1) -
Tassal booked a strong result given the hottest summer on record, the broker suggests. Salmon volumes were down but price rises offset. Cash flow was also solid considering inventory build.
The broker suggests environmental caps placed on stocks in Tasmania should not stop Tassal growing volumes but may lead to more capex, noting rival Huon Aquaculture ((HUO)) is taking legal action against the caps.
Buy retained. Target rises to $5.15 from $4.25.
Target price is $5.15 Current Price is $4.61 Difference: $0.54
If TGR meets the UBS target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $4.83, suggesting downside of -0.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 15.50 cents and EPS of 28.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.3, implying annual growth of -8.0%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 16.0. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 17.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.1, implying annual growth of 15.8%. Current consensus DPS estimate is 18.1, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.8. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates TRS as Neutral (3) -
Reject Shop's first half results were well below the broker's expectations, mainly due to weaker than forecast sales. The tough trading conditions have continued into the third quarter, with LFL sales remaining negative.
Management has warned a change in sales momentum is required to achieve last year's second half result. Macquarie cuts FY17 earnings estimates by -14% and FY18 estimates by -11%.
Neutral retained and target falls to $8.50 from $10.50.
Target price is $8.50 Current Price is $7.64 Difference: $0.86
If TRS meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $10.18, suggesting upside of 32.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 40.00 cents and EPS of 62.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.8, implying annual growth of 7.6%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 43.00 cents and EPS of 69.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 75.1, implying annual growth of 17.7%. Current consensus DPS estimate is 44.3, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 10.3. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates TRS as Overweight (1) -
First half results disappointed, with like-for-like sale declining in the second quarter, a trend that continues in 2017. Morgan Stanley envisages some upside to margins with a return to growth but this may take some time to play out.
The broker retains an Overweight rating. Target is reduced to $9.15 from $11.30. Industry view is In-Line.
Target price is $9.15 Current Price is $7.64 Difference: $1.51
If TRS meets the Morgan Stanley target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $10.18, suggesting upside of 32.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 40.00 cents and EPS of 65.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.8, implying annual growth of 7.6%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 46.00 cents and EPS of 78.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 75.1, implying annual growth of 17.7%. Current consensus DPS estimate is 44.3, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 10.3. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TRS as Buy (1) -
It was a weak, but well-flagged, result from Reject, impacted by softness in WA and disruptions as the company significantly reorganises its supply chain, the broker notes. Sales growth was positive in the Dec Q but turned negative again in January.
The supply chain is now closer to where it should be, the broker notes, but sales growth needs to return. Closing underperforming stores might help. Target falls to $11.15 from $12.90 but Buy retained.
Target price is $12.90 Current Price is $7.64 Difference: $5.26
If TRS meets the UBS target it will return approximately 69% (excluding dividends, fees and charges).
Current consensus price target is $10.18, suggesting upside of 32.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 42.00 cents and EPS of 63.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 63.8, implying annual growth of 7.6%. Current consensus DPS estimate is 40.7, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 44.00 cents and EPS of 77.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 75.1, implying annual growth of 17.7%. Current consensus DPS estimate is 44.3, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 10.3. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates VOC as Buy (1) -
Citi analysts saw a "poor" result, but the issues are fixable and the absence of further negative admissions was the real positive, suggest the analysts.
They observe net debt has risen to $988m, but think this should decline in the absence of any more acquisitions. As the company delivers on synergies and rectifies its operational issues, double digit growth should become reality, suggest the analysts. Buy.
Current Price is $4.81. Target price not assessed.
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 12.00 cents and EPS of 21.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 14.00 cents and EPS of 29.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates VOC as Buy (1) -
First half results were in line with expectations. Deutsche Bank notes organic growth has returned across most of the divisions. FY17 guidance and cost synergy targets are retained.
The broker expects improved working capital management and earnings growth to lead to strong cash generation and debt reduction. Buy retained. Target is reduced to $7.05 from $8.03.
Target price is $7.05 Current Price is $4.81 Difference: $2.24
If VOC meets the Deutsche Bank target it will return approximately 47% (excluding dividends, fees and charges).
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 15.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 19.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates VOC as Outperform (1) -
The group's first half results were below the broker's expectations. Management was able to reiterate guidance for $430m to $450m underlying earnings and $205m to $215m NPAT.
Macquarie expects Vocus to come in just below the bottom end of its guidance range, and sits -7% below pre-result consensus.
Outperform rating retained and target falls to $5.20 from $5.30.
Target price is $5.20 Current Price is $4.81 Difference: $0.39
If VOC meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 16.40 cents and EPS of 32.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 18.40 cents and EPS of 36.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates VOC as Hold (3) -
Vocus's first half result was complex for the broker, due to many one-offs and moving parts. Increased disclosure levels are allowing Morgans to better understand key deliverables.
FY17 guidance for underlying earnings of $430m to $450m and NPAT of $205m to $210m were reiterated.
The broker retains a Hold rating and target falls to $4.40 from $4.46.
Target price is $4.40 Current Price is $4.81 Difference: minus $0.41 (current price is over target).
If VOC meets the Morgans target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 12.00 cents and EPS of 34.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 14.00 cents and EPS of 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates VOC as Buy (1) -
First half results were weaker than the broker had expected. management reiterated full year guidance.
Ord Minnett's underlying EPS for the year sees an increase of 12.8% year on year. Capex estimate is down to $213.4m, against company guidance of $217m.
Ord Minnett retains a Buy rating and $5.25 target.
Target price is $5.25 Current Price is $4.81 Difference: $0.44
If VOC meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 16.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 14.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates VOC as Buy (1) -
Vocus' numbers were ahead of the broker but it was a low quality beat, the broker suggests. Fibre revenue growth was a highlight but cash flow conversion was weak. The broker welcomes more detailed financial disclosures which it will now spend more time reviewing.
In the meantime the broker believes the second half skew underlying guidance looks achievable. Buy and $6.00 target for now.
Target price is $6.00 Current Price is $4.81 Difference: $1.19
If VOC meets the UBS target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $5.51, suggesting upside of 19.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 18.00 cents and EPS of 33.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.7, implying annual growth of 62.8%. Current consensus DPS estimate is 15.4, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 20.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.6, implying annual growth of 12.7%. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WOW as No Rating (-1) -
First half sales were $18.7bn in the Australian food business, an increase of 3% and Citi observes signs of recovery. Margin stabilised in food and gross margins were helped by more than 80 basis points of reduced inventory losses.
No rating or target are provided.
Current Price is $26.63. Target price not assessed.
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WOW as Downgrade to Underperform from Neutral (5) -
First half earnings were broadly in line with forecasts. Credit Suisse increases forecast food EBIT on the back of improvements in key operating metrics and envisages trend total sales growth at 3-4% as realistic.
The balance sheet was helped by a significant slowing in property investment, payments for the divestment of home improvement assets and property disposals.
Credit Suisse downgrades to Underperform from Neutral. Competitive risks are not abating and the stock appears a little expensive to the broker. Target is raised to $24.50 from $24.30.
Target price is $24.50 Current Price is $26.63 Difference: minus $2.13 (current price is over target).
If WOW meets the Credit Suisse target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 70.66 cents and EPS of 110.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 84.29 cents and EPS of 123.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WOW as Buy (1) -
First half results were broadly in line. Deutsche Bank was pleased with the interim, which signalled the turnaround in food like-for-like growth is happening sooner than previously expected.
The broker notes the stock is more expensive but believes persistent sales momentum and further gross margin expansion, underpinned by additional reductions in shrinkage, should drive more outperformance.
Buy retained. Target is raised to $28 from $27.
Target price is $28.00 Current Price is $26.63 Difference: $1.37
If WOW meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 71.00 cents and EPS of 111.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 80.00 cents and EPS of 125.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WOW as Neutral (3) -
Woolworths delivered a first half result that delighted the market according to the broker. The food division improved competitiveness and liquor remains a stable earnings contributor.
Macquarie expects the company to maintain sales momentum into the third quarter. FY17 earnings forecasts are reduced by -8.4% for FY17 and -2% in FY18.
Neutral retained and target rises to $25.60 from $22.54.
Target price is $25.60 Current Price is $26.63 Difference: minus $1.03 (current price is over target).
If WOW meets the Macquarie target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 72.00 cents and EPS of 111.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 81.20 cents and EPS of 126.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WOW as Underweight (5) -
While broadly in line with forecasts, Morgan Stanley suspects the market is over-stating the recovery in margin in the first half. Looking ahead the broker believes the improvement in shrinkage/loss will be smaller in the second half compared with the prior corresponding half.
Further margin expansion will rely on sales growth exceeding cost growth which appears unlikely to the broker, given probable competitor responses.
Underweight retained. In-Line industry view. Target is raised to $22 from $20.
Target price is $22.00 Current Price is $26.63 Difference: minus $4.63 (current price is over target).
If WOW meets the Morgan Stanley target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 82.00 cents and EPS of 88.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 88.00 cents and EPS of 100.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WOW as Reduce (5) -
First half results were below the broker's expectations, mainly due to continued losses at Big W. The core food business continued to improve, showing the turnaround strategy is gaining traction.
Morgans continues to include petrol in the earnings forecasts given uncertainty around regulatory approvals. The broker's FY17 earnings forecast has been cut by -2%.
Reduce retained and target raised to $21.45 from $20.86.
Target price is $21.45 Current Price is $26.63 Difference: minus $5.18 (current price is over target).
If WOW meets the Morgans target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 78.00 cents and EPS of 113.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 85.00 cents and EPS of 124.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WOW as Accumulate (2) -
First half underlying EBIT was ahead of forecasts. Ord Minnett is confident in the turnaround in the food business, and EBIT margins appear to have bottomed in 2016 while the balance sheet has improved.
The broker retains an Accumulate rating. Price target rises to $30 from $28.
Target price is $30.00 Current Price is $26.63 Difference: $3.37
If WOW meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 86.00 cents and EPS of 109.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 91.00 cents and EPS of 134.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WOW as Buy (1) -
Woolies' result beat expectation thanks to a 5% earnings beat against consensus for the core food division. Sales were up and margin shrinkage less-bad. The broker is particularly pleased that the soft result from Coles ((WES)) was due to price investment, whereas there was no sign of such investment at Woolies.
Thus the risk of a price war, which the broker fears, has diminished. The broker has lifted forecasts and its target to $28.80 from $27.30. Buy retained.
Target price is $28.80 Current Price is $26.63 Difference: $2.17
If WOW meets the UBS target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $25.76, suggesting downside of -3.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 74.00 cents and EPS of 121.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.0, implying annual growth of N/A. Current consensus DPS estimate is 76.2, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 24.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 94.00 cents and EPS of 141.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 124.8, implying annual growth of 14.5%. Current consensus DPS estimate is 86.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WPL as Neutral (3) -
2016 results were in line with expectations. The current share price suggests to Citi that some growth is factored in. An update on Senegal, Myanmar and the North West Shelf tie-back is expected at the strategy briefing in May.
Risks in the near term include sentiment from a deteriorating LNG market and the Shell overhang. Neutral retained. Target is raised to $32.02 from $31.16.
Target price is $32.02 Current Price is $31.41 Difference: $0.61
If WPL meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 138.50 cents and EPS of 172.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 170.46 cents and EPS of 213.88 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WPL as Underperform (5) -
2016 results were ahead of forecasts. The main surprise for Credit Suisse was the implied 100-plus mmboe production forecast by 2020, which suggests 15% growth on 2017 guidance. The broker's numbers are around -7% below this mark.
Underperform rating is retained. On the broker's numbers the company is pricing in a US$76/bbl oil price in perpetuity at spot currency. Target is raised to $26.80 from $26.70.
Target price is $26.80 Current Price is $31.41 Difference: minus $4.61 (current price is over target).
If WPL meets the Credit Suisse target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 113.76 cents and EPS of 142.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 146.77 cents and EPS of 183.78 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WPL as Hold (3) -
2016 results signalled further cost reduction initiatives, which impressed Deutsche Bank. The broker notes the strong balance sheet and positive momentum.
Wheatstone is on track for start up mid 2017 and the company has renewed its commentary regarding the Pluto LNG expansion.
Hold rating retained. Target rises to $30.00 from $28.80.
Target price is $30.00 Current Price is $31.41 Difference: minus $1.41 (current price is over target).
If WPL meets the Deutsche Bank target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 131.84 cents and EPS of 165.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 146.49 cents and EPS of 210.41 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WPL as Neutral (3) -
Woodside's 2016 results were below the broker's expectations, as a result of higher tax and the inability to deduct exploration expenses from international assets.
Despite the miss, the broker is impressed with the cost reductions across the business, especially at Pluto. Macquarie has made no change to CY17 estimates, but raises CY17 and CY18 estimates by 3% and 8% respectively.
Neutral retained and target reduced to $30.00 from $31.00.
Target price is $30.00 Current Price is $31.41 Difference: minus $1.41 (current price is over target).
If WPL meets the Macquarie target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 150.49 cents and EPS of 190.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 150.49 cents and EPS of 191.37 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WPL as Overweight (1) -
2016 numbers beat forecasts. Morgan Stanley notes production growth of 15% is flagged for the next three years, driven by Wheatstone and Greater Enfield.
Target is $40.00. Overweight rating and In-Line industry view retained.
Target price is $40.00 Current Price is $31.41 Difference: $8.59
If WPL meets the Morgan Stanley target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 94.55 cents and EPS of 117.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 124.68 cents and EPS of 155.52 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WPL as Hold (3) -
Woodside's 2016 results were slightly better than the broker's expectations. Lower realised prices saw underlying NPAT down 23% year on year.
Management stated it would focus on growth through Pluto, Wheatstone, Myanmar and Senegal. Morgans was surprised that the company would prioritise growth at Pluto, requiring expanded capex, over NSW.
Hold rating retained and target rises to $31.44 from $30.40.
Target price is $31.44 Current Price is $31.41 Difference: $0.03
If WPL meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 151.82 cents and EPS of 215.74 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 190.44 cents and EPS of 271.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WPL as Accumulate (2) -
2016 net profit was ahead of forecasts. Ord Minnett retains Woodside as its top pick in the sector because of the cost reductions at Pluto and the focus on growth for the existing suite of assets for the near to medium term.
The broker believes the intention to expand Pluto underscores the reasoning behind its recent upgrade. Accumulate rating and $36 target retained.
Target price is $36.00 Current Price is $31.41 Difference: $4.59
If WPL meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $32.71, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 143.83 cents and EPS of 181.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 166.5, implying annual growth of N/A. Current consensus DPS estimate is 130.3, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 19.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 155.81 cents and EPS of 197.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 199.0, implying annual growth of 19.5%. Current consensus DPS estimate is 152.6, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 15.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WSA as Neutral (3) -
First half results were slightly softer than expected. Citi notes the balance sheet is proving resilient.
Improvements have been made in FY17 production and operating expenditure guidance.
Citi retains a Neutral rating and raises the target to $2.60 from $2.38.
Target price is $2.60 Current Price is $2.54 Difference: $0.06
If WSA meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 0.00 cents and EPS of 5.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 8.00 cents and EPS of 23.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WSA as Neutral (3) -
First half results were in line with expectations, although a negative provision pricing adjustment of -$2.9m was made, reflecting a lower nickel price.
Credit Suisse reduces the target to $2.90 from $3.25, to reflect the uncertainty around the nickel price, given the unknowns in Indonesia and Philippines. Neutral retained.
Target price is $2.90 Current Price is $2.54 Difference: $0.36
If WSA meets the Credit Suisse target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 0.00 cents and EPS of 0.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 8.05 cents and EPS of 19.86 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates WSA as Hold (3) -
Interim EBITDA was below forecasts. A tax gain brought earnings back to profitability. FY17 guidance was upgraded, as Deutsche Bank suspected.
The broker observes the assets are being run diligently. To become more constructive, a material lift in nickel prices is needed. Hold rating retained. Target is $2.40.
Target price is $2.40 Current Price is $2.54 Difference: minus $0.14 (current price is over target).
If WSA meets the Deutsche Bank target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WSA as Neutral (3) -
First half results were weaker than the broker had expected, although the miss was largely non-cash with cash flow in line. The company has upgraded its FY17 production guidance by 5-10%.
Macquarie has made changes to earnings forecasts, noting the production upgrade largely offsetting the weak first half result. FY17 earnings forecast has been cut by -31%. Slight cuts to depreciation charges sees FY18 and FY19 earnings increase by 2% and 3% respectively.
Neutral rating and $2.60 target retained.
Target price is $2.60 Current Price is $2.54 Difference: $0.06
If WSA meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.00 cents and EPS of 1.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.00 cents and EPS of 12.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WSA as Lighten (4) -
Western Areas' result was in line with the broker and FY production and cost guidance improved. The company is a low cost producer but the broker is bearish the nickel price and thus struggles to see more than modest shareholder returns.
If spot prices were to persist, and policy decisions in Indonesia and the Philippines are swing factors, the company could reinstate dividends. But for now, Lighten retained. Target rises to $2.40 from $2.30.
Target price is $2.40 Current Price is $2.54 Difference: minus $0.14 (current price is over target).
If WSA meets the Ord Minnett target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 0.00 cents and EPS of 0.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 0.00 cents and EPS of minus 2.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WSA as Sell (5) -
Western Areas' result was slightly softer than expected due to a negative quotational price adjustment. Expenses were also ahead of forecast. An increase in FY production guidance is in line with the broker's forecast.
The broker has lifted nickel price forecasts, on an expected increase in Chinese demand for high-grade nickel and weaker low-grade supply. Yet valuation remains too full. Sell retained, target rises to $2.38 from $2.18.
Target price is $2.38 Current Price is $2.54 Difference: minus $0.16 (current price is over target).
If WSA meets the UBS target it will return approximately minus 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.60, suggesting upside of 3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 0.00 cents and EPS of 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.1, implying annual growth of N/A. Current consensus DPS estimate is 0.3, implying a prospective dividend yield of 0.1%. Current consensus EPS estimate suggests the PER is 61.0. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 2.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.3, implying annual growth of 224.4%. Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 1.5%. Current consensus EPS estimate suggests the PER is 18.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WTC as Buy (1) -
A strong interim report was better than Citi's prognostication. The company reiterated guidance and Citi takes it as a positive. Estimates have been raised. The target price lifts 5% to $6.25.
Buy rating reiterated as the analysts see potential for upside surprise (beating guidance) plus further M&A opportunities.
Target price is $6.25 Current Price is $5.57 Difference: $0.68
If WTC meets the Citi target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.46, suggesting downside of -1.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 2.10 cents and EPS of 10.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.9, implying annual growth of 23.8%. Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 55.8. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 2.70 cents and EPS of 14.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.5, implying annual growth of 36.4%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.5%. Current consensus EPS estimate suggests the PER is 40.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WTC as Downgrade to Neutral from Outperform (3) -
Wisetech Global's first half result was better than the broker had expected. Macquarie believes the company is well on track to meet the reaffirmed FY17 guidance.
The broker has raised FY17 forecasts by 15% and FY18 forecasts by 12%. Maquarie downgrades the stock to Neutral from Outperform and target is raised to $5.80 from $5.30.
Target price is $5.80 Current Price is $5.57 Difference: $0.23
If WTC meets the Macquarie target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $5.46, suggesting downside of -1.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 2.10 cents and EPS of 10.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.9, implying annual growth of 23.8%. Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 55.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 2.60 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.5, implying annual growth of 36.4%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.5%. Current consensus EPS estimate suggests the PER is 40.9. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| AGI - | AINSWORTH GAME TECHN | Outperform - Macquarie | Overnight Price $1.70 |
| AJA - | ASTRO JAPAN PROP | Accumulate - Ord Minnett | Overnight Price $6.21 |
| ALU - | ALTIUM | Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $7.80 |
| APA - | APA | Sell - Citi | Overnight Price $8.71 |
| Underperform - Credit Suisse | Overnight Price $8.71 | ||
| Buy - Deutsche Bank | Overnight Price $8.71 | ||
| Neutral - Macquarie | Overnight Price $8.71 | ||
| Underweight - Morgan Stanley | Overnight Price $8.71 | ||
| Hold - Morgans | Overnight Price $8.71 | ||
| Upgrade to Buy from Accumulate - Ord Minnett | Overnight Price $8.71 | ||
| APE - | AP EAGERS | Hold - Morgans | Overnight Price $9.23 |
| Hold - Ord Minnett | Overnight Price $9.23 | ||
| APN - | APN NEWS & MEDIA | Outperform - Credit Suisse | Overnight Price $2.64 |
| Buy - Deutsche Bank | Overnight Price $2.64 | ||
| Outperform - Macquarie | Overnight Price $2.64 | ||
| APO - | APN OUTDOOR | Neutral - Credit Suisse | Overnight Price $6.09 |
| Upgrade to Add from Hold - Morgans | Overnight Price $6.09 | ||
| Buy - UBS | Overnight Price $6.09 | ||
| ARB - | ARB CORP | Neutral - Citi | Overnight Price $15.63 |
| Neutral - Macquarie | Overnight Price $15.63 | ||
| Lighten - Ord Minnett | Overnight Price $15.63 | ||
| ATL - | APOLLO TOURISM & LEISURE | Add - Morgans | Overnight Price $1.28 |
| BKL - | BLACKMORES | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $104.53 |
| Hold - Morgans | Overnight Price $104.53 | ||
| Accumulate - Ord Minnett | Overnight Price $104.53 | ||
| CCL - | COCA-COLA AMATIL | Downgrade to Neutral from Buy - Citi | Overnight Price $10.47 |
| Neutral - Credit Suisse | Overnight Price $10.47 | ||
| Hold - Deutsche Bank | Overnight Price $10.47 | ||
| Downgrade to Equal-weight from Overweight - Morgan Stanley | Overnight Price $10.47 | ||
| Hold - Morgans | Overnight Price $10.47 | ||
| Lighten - Ord Minnett | Overnight Price $10.47 | ||
| Neutral - UBS | Overnight Price $10.47 | ||
| CLH - | COLLECTION HOUSE | Hold - Morgans | Overnight Price $1.26 |
| CLW - | CHARTER HALL LONG WALE REIT | Underperform - Macquarie | Overnight Price $3.93 |
| Hold - Ord Minnett | Overnight Price $3.93 | ||
| Neutral - UBS | Overnight Price $3.93 | ||
| CWP - | CEDAR WOODS PROPERTIES | Outperform - Macquarie | Overnight Price $5.41 |
| Add - Morgans | Overnight Price $5.41 | ||
| FBU - | FLETCHER BUILDING | Buy - Citi | Overnight Price $8.93 |
| Neutral - Credit Suisse | Overnight Price $8.93 | ||
| Buy - Deutsche Bank | Overnight Price $8.93 | ||
| Underperform - Macquarie | Overnight Price $8.93 | ||
| Overweight - Morgan Stanley | Overnight Price $8.93 | ||
| Neutral - UBS | Overnight Price $8.93 | ||
| FMG - | FORTESCUE | Neutral - Credit Suisse | Overnight Price $6.98 |
| Hold - Deutsche Bank | Overnight Price $6.98 | ||
| Outperform - Macquarie | Overnight Price $6.98 | ||
| Hold - Morgans | Overnight Price $6.98 | ||
| Accumulate - Ord Minnett | Overnight Price $6.98 | ||
| Neutral - UBS | Overnight Price $6.98 | ||
| FXJ - | FAIRFAX MEDIA | Sell - Citi | Overnight Price $0.94 |
| Outperform - Credit Suisse | Overnight Price $0.94 | ||
| Hold - Deutsche Bank | Overnight Price $0.94 | ||
| No Rating - Macquarie | Overnight Price $0.94 | ||
| Overweight - Morgan Stanley | Overnight Price $0.94 | ||
| Neutral - UBS | Overnight Price $0.94 | ||
| GFY - | GODFREYS | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $0.90 |
| HLO - | HELLOWORLD | Hold - Deutsche Bank | Overnight Price $4.40 |
| Buy - Ord Minnett | Overnight Price $4.40 | ||
| HSO - | HEALTHSCOPE | Neutral - Citi | Overnight Price $2.37 |
| Equal-weight - Morgan Stanley | Overnight Price $2.37 | ||
| Add - Morgans | Overnight Price $2.37 | ||
| Accumulate - Ord Minnett | Overnight Price $2.37 | ||
| Buy - UBS | Overnight Price $2.37 | ||
| HUO - | HUON AQUACULTURE | Upgrade to Accumulate from Hold - Ord Minnett | Overnight Price $4.85 |
| IAG - | INSURANCE AUSTRALIA | Neutral - Citi | Overnight Price $5.92 |
| Upgrade to Neutral from Underperform - Credit Suisse | Overnight Price $5.92 | ||
| Hold - Deutsche Bank | Overnight Price $5.92 | ||
| Downgrade to Underperform from Neutral - Macquarie | Overnight Price $5.92 | ||
| Equal-weight - Morgan Stanley | Overnight Price $5.92 | ||
| Hold - Morgans | Overnight Price $5.92 | ||
| Hold - Ord Minnett | Overnight Price $5.92 | ||
| Neutral - UBS | Overnight Price $5.92 | ||
| IRE - | IRESS MARKET TECHN | Buy - Deutsche Bank | Overnight Price $11.64 |
| Neutral - Macquarie | Overnight Price $11.64 | ||
| Upgrade to Accumulate from Hold - Ord Minnett | Overnight Price $11.64 | ||
| ISD - | ISENTIA | Downgrade to Hold from Buy - Deutsche Bank | Overnight Price $1.80 |
| Outperform - Macquarie | Overnight Price $1.80 | ||
| MMS - | MCMILLAN SHAKESPEARE | Upgrade to Buy from Neutral - Citi | Overnight Price $11.60 |
| Upgrade to Outperform from Neutral - Macquarie | Overnight Price $11.60 | ||
| Underweight - Morgan Stanley | Overnight Price $11.60 | ||
| NSR - | NATIONAL STORAGE | Underperform - Macquarie | Overnight Price $1.46 |
| Overweight - Morgan Stanley | Overnight Price $1.46 | ||
| Hold - Ord Minnett | Overnight Price $1.46 | ||
| PGH - | PACT GROUP | Neutral - Credit Suisse | Overnight Price $6.66 |
| Buy - Deutsche Bank | Overnight Price $6.66 | ||
| Outperform - Macquarie | Overnight Price $6.66 | ||
| Hold - Morgans | Overnight Price $6.66 | ||
| Accumulate - Ord Minnett | Overnight Price $6.66 | ||
| Neutral - UBS | Overnight Price $6.66 | ||
| PRY - | PRIMARY HEALTH CARE | Neutral - Citi | Overnight Price $3.35 |
| QUB - | QUBE HOLDINGS | Buy - Citi | Overnight Price $2.39 |
| Hold - Deutsche Bank | Overnight Price $2.39 | ||
| Outperform - Macquarie | Overnight Price $2.39 | ||
| Equal-weight - Morgan Stanley | Overnight Price $2.39 | ||
| Add - Morgans | Overnight Price $2.39 | ||
| Buy - Ord Minnett | Overnight Price $2.39 | ||
| Buy - UBS | Overnight Price $2.39 | ||
| SBM - | ST BARBARA | Buy - Deutsche Bank | Overnight Price $2.86 |
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $2.86 | ||
| SDF - | STEADFAST GROUP | Outperform - Credit Suisse | Overnight Price $2.27 |
| Outperform - Macquarie | Overnight Price $2.27 | ||
| Buy - Ord Minnett | Overnight Price $2.27 | ||
| SGP - | STOCKLAND | Neutral - Citi | Overnight Price $4.58 |
| Neutral - Macquarie | Overnight Price $4.58 | ||
| Overweight - Morgan Stanley | Overnight Price $4.58 | ||
| Accumulate - Ord Minnett | Overnight Price $4.58 | ||
| Buy - UBS | Overnight Price $4.58 | ||
| SIQ - | SMARTGROUP | Outperform - Macquarie | Overnight Price $6.13 |
| SRX - | SIRTEX MEDICAL | Overweight - Morgan Stanley | Overnight Price $15.75 |
| Hold - Morgans | Overnight Price $15.75 | ||
| Buy - UBS | Overnight Price $15.75 | ||
| SUN - | SUNCORP | Hold - Morgans | Overnight Price $13.17 |
| TGR - | TASSAL GROUP | Buy - Ord Minnett | Overnight Price $4.61 |
| Buy - UBS | Overnight Price $4.61 | ||
| TRS - | THE REJECT SHOP | Neutral - Macquarie | Overnight Price $7.64 |
| Overweight - Morgan Stanley | Overnight Price $7.64 | ||
| Buy - UBS | Overnight Price $7.64 | ||
| VOC - | VOCUS COMMUNICATIONS | Buy - Citi | Overnight Price $4.81 |
| Buy - Deutsche Bank | Overnight Price $4.81 | ||
| Outperform - Macquarie | Overnight Price $4.81 | ||
| Hold - Morgans | Overnight Price $4.81 | ||
| Buy - Ord Minnett | Overnight Price $4.81 | ||
| Buy - UBS | Overnight Price $4.81 | ||
| WOW - | WOOLWORTHS | No Rating - Citi | Overnight Price $26.63 |
| Downgrade to Underperform from Neutral - Credit Suisse | Overnight Price $26.63 | ||
| Buy - Deutsche Bank | Overnight Price $26.63 | ||
| Neutral - Macquarie | Overnight Price $26.63 | ||
| Underweight - Morgan Stanley | Overnight Price $26.63 | ||
| Reduce - Morgans | Overnight Price $26.63 | ||
| Accumulate - Ord Minnett | Overnight Price $26.63 | ||
| Buy - UBS | Overnight Price $26.63 | ||
| WPL - | WOODSIDE PETROLEUM | Neutral - Citi | Overnight Price $31.41 |
| Underperform - Credit Suisse | Overnight Price $31.41 | ||
| Hold - Deutsche Bank | Overnight Price $31.41 | ||
| Neutral - Macquarie | Overnight Price $31.41 | ||
| Overweight - Morgan Stanley | Overnight Price $31.41 | ||
| Hold - Morgans | Overnight Price $31.41 | ||
| Accumulate - Ord Minnett | Overnight Price $31.41 | ||
| WSA - | WESTERN AREAS | Neutral - Citi | Overnight Price $2.54 |
| Neutral - Credit Suisse | Overnight Price $2.54 | ||
| Hold - Deutsche Bank | Overnight Price $2.54 | ||
| Neutral - Macquarie | Overnight Price $2.54 | ||
| Lighten - Ord Minnett | Overnight Price $2.54 | ||
| Sell - UBS | Overnight Price $2.54 | ||
| WTC - | WISETECH GLOBAL | Buy - Citi | Overnight Price $5.57 |
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $5.57 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 55 |
| 2. Accumulate | 10 |
| 3. Hold | 63 |
| 4. Reduce | 3 |
| 5. Sell | 14 |
Thursday 23 February 2017
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Disclaimer:
The content of this information does in no way reflect the opinions of
FNArena, or of its journalists. In fact we don't have any opinion about
the stock market, its value, future direction or individual shares. FNArena solely reports about what the main experts in the market note, believe
and comment on. By doing so we believe we provide intelligent investors
with a valuable tool that helps them in making up their own minds, reading
market trends and getting a feel for what is happening beneath the surface.
This document is provided for informational purposes only. It does not
constitute an offer to sell or a solicitation to buy any security or other
financial instrument. FNArena employs very experienced journalists who
base their work on information believed to be reliable and accurate, though
no guarantee is given that the daily report is accurate or complete. Investors
should contact their personal adviser before making any investment decision.
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