Australian Broker Call
May 04, 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)
THIS REPORT WILL BE UPDATED SHORTLY
Last Updated: 10:56 AM
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
| CWY - | CLEANAWAY WASTE MANAGEMENT | Downgrade to Hold from Add | Morgans |
| PGH - | PACT GROUP | Downgrade to Neutral from Outperform | Macquarie |
| Downgrade to Hold from Accumulate | Ord Minnett | ||
| VOC - | VOCUS COMMUNICATIONS | Downgrade to Hold from Buy | Deutsche Bank |
| Downgrade to Neutral from Outperform | Macquarie | ||
| Downgrade to Reduce from Hold | Morgans | ||
| Downgrade to Neutral from Buy | UBS |
Deutsche Bank rates AMC as Buy (1) -
Amcor has acquired a specialty containers business in Colombia for US$13m. The broker sees the acquisition as a minor positive, enhancing the company's position in Colombia and in Americas specialty containers.
Buy and $17.35 target retained.
Target price is $17.35 Current Price is $15.20 Difference: $2.15
If AMC meets the Deutsche Bank target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $15.53, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 EPS of 81.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 77.3, implying annual growth of N/A. Current consensus DPS estimate is 58.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 19.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 EPS of 90.45 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 86.2, implying annual growth of 11.5%. Current consensus DPS estimate is 64.8, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AQG as Outperform (1) -
March quarter production was in line with expectations. A softer first half is expected based on mine scheduling, as mining will be predominantly within the lower grade Marble pit and moved to the higher grade and more continuous Manganese pit in the second half.
Credit Suisse observes the sulphide project is on schedule and on budget. Outperform and $5.30 target retained.
Target price is $5.30 Current Price is $2.02 Difference: $3.28
If AQG meets the Credit Suisse target it will return approximately 162% (excluding dividends, fees and charges).
Current consensus price target is $4.20, suggesting upside of 110.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 0.00 cents and EPS of 66.27 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.3, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 6.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 12.12 cents and EPS of 36.53 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.9, implying annual growth of -37.6%. Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 10.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AQG as Buy (1) -
Copler production fell -13% short of the broker's estimate in the March Q due to access difficulties. The broker suggests guidance will now be tough to achieve.
But the Copler sulphide project is on time, on budget and fully funded, and represents 80% of the broker's net present value assumption for Alacer. Sovereign risk has helped Alacer to trade at a discount to gold miner peers, but the broker suggests the market is undervaluing the long life, high margin Copler project.
Buy and $4.40 target retained.
Target price is $4.40 Current Price is $2.02 Difference: $2.38
If AQG meets the Deutsche Bank target it will return approximately 118% (excluding dividends, fees and charges).
Current consensus price target is $4.20, suggesting upside of 110.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 0.00 cents and EPS of 69.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.3, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 6.6. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 0.00 cents and EPS of 26.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.9, implying annual growth of -37.6%. Current consensus DPS estimate is 3.1, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 10.6. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ASX as Lighten (4) -
The company reported a 3.2% rise in net profit for the nine months to March 31, in line with Ord Minnett's forecasts. Interest income was higher than expected on the collateral balance held for the year to date. Guidance for FY17 is unchanged.
The stock is been underperforming for the past few months and, while the broker likes the defensive business model, it remains concerned that the market may demand more growth to justify the high price/earnings ratio.
Lighten rating retained. Target is $48.50.
Target price is $48.50 Current Price is $51.08 Difference: minus $2.58 (current price is over target).
If ASX meets the Ord Minnett target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $47.85, suggesting downside of -5.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 201.00 cents and EPS of 227.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 226.5, implying annual growth of 2.8%. Current consensus DPS estimate is 202.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 22.4. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 209.00 cents and EPS of 236.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 235.6, implying annual growth of 4.0%. Current consensus DPS estimate is 209.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 21.5. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ASX as Neutral (3) -
The trading update and activity data for April point towards moderate earnings growth of 3-4%, consistent with UBS expectations.
The broker remains cautious about the company's near-term growth outlook. Moreover, with the stock trading ahead of the target UBS envisages little support outside of the dividend yield.
Neutral retained. Target is reduced to $49.10 from $49.50.
Target price is $49.10 Current Price is $51.08 Difference: minus $1.98 (current price is over target).
If ASX meets the UBS target it will return approximately minus 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $47.85, suggesting downside of -5.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 202.00 cents and EPS of 227.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 226.5, implying annual growth of 2.8%. Current consensus DPS estimate is 202.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 22.4. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 205.00 cents and EPS of 233.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 235.6, implying annual growth of 4.0%. Current consensus DPS estimate is 209.5, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 21.5. |
Market Sentiment: -0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AWC as Underperform (5) -
Credit Suisse updates its model for March quarter production and its latest forecasts for commodities. Earnings per share are upgraded by 1% for FY17 and 42% for FY18.
Despite a recent slump in Australian spot alumina prices on the back of a surge in production in China earlier this year, the broker believes prices will lift in the fourth quarter on re-stocking ahead of the expected refinery curtailments over the winter months.
Underperform retained. Target is $1.70.
Target price is $1.70 Current Price is $1.72 Difference: minus $0.015 (current price is over target).
If AWC 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 $1.80, suggesting upside of 5.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 10.03 cents and EPS of 12.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.4, implying annual growth of N/A. Current consensus DPS estimate is 13.7, implying a prospective dividend yield of 8.0%. Current consensus EPS estimate suggests the PER is 11.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 11.12 cents and EPS of 12.09 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.3, implying annual growth of -0.7%. Current consensus DPS estimate is 14.3, implying a prospective dividend yield of 8.4%. Current consensus EPS estimate suggests the PER is 11.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates BBN as Overweight (1) -
Morgan Stanley observes the opportunities for the company are underpinned by two recent events where new stores were opened and forced a competitor to close.
Moreover, the operating performance of mature stores has improved and the broker does not believe this is in reflected in implied FY18 earnings estimates. Morgan Stanley believes the decline in the stock, as part of the broader retail sell-off and lack of news, is a buying opportunity.
Overweight rating. Target is $3.30. Sector view is In-Line.
Target price is $3.30 Current Price is $1.72 Difference: $1.58
If BBN meets the Morgan Stanley target it will return approximately 92% (excluding dividends, fees and charges).
Current consensus price target is $2.81, suggesting upside of 59.8% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 8.20 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.6, implying annual growth of 51.4%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 10.10 cents and EPS of 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.7, implying annual growth of 19.8%. Current consensus DPS estimate is 9.9, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 13.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates CSL as Outperform (1) -
March quarter results regarding HPV vaccine sales suggest the company's royalties will be around US$30m, Credit Suisse estimates, with the implied run rate slightly ahead of second half forecasts.
Target is $134. Outperform retained.
Target price is $134.00 Current Price is $133.43 Difference: $0.57
If CSL meets the Credit Suisse target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $131.58, suggesting downside of -1.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 180.90 cents and EPS of 399.04 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 405.9, implying annual growth of N/A. Current consensus DPS estimate is 183.9, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 227.45 cents and EPS of 485.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 480.3, implying annual growth of 18.3%. Current consensus DPS estimate is 213.4, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 27.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CSL as Accumulate (2) -
Ord Minnett observes the key message from the Seqirus briefing was that the flu business is on track to reach break even in FY18, as revenue is boosted by the rolling out of higher-value quadrivalent vaccines.
Ord Minnett envisages potential for that the division to exceed forecasts in the current year and confidence in near term outlook has received a further boost from strong competitor quarterly results.
Accumulate rating retained. Target is $130.
Target price is $130.00 Current Price is $133.43 Difference: minus $3.43 (current price is over target).
If CSL meets the Ord Minnett target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $131.58, suggesting downside of -1.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 179.57 cents and EPS of 399.04 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 405.9, implying annual growth of N/A. Current consensus DPS estimate is 183.9, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 237.37 cents and EPS of 502.73 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 480.3, implying annual growth of 18.3%. Current consensus DPS estimate is 213.4, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 27.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CSL as Neutral (3) -
CSL continues to expect FY17 losses can move to a break-even in FY18 for its Seqirus division, and by FY20 hit $1bn in sales at 20% EBITDA margin. This is consistent with UBS expectations.
The company is now offering increased volumes of Quadrivalent at prices below competitors for the current flu season.
UBS retains a Neutral rating and $132.15 target.
Target price is $132.15 Current Price is $133.43 Difference: minus $1.28 (current price is over target).
If CSL 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 $131.58, suggesting downside of -1.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 176.91 cents and EPS of 420.33 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 405.9, implying annual growth of N/A. Current consensus DPS estimate is 183.9, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 33.0. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 192.87 cents and EPS of 468.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 480.3, implying annual growth of 18.3%. Current consensus DPS estimate is 213.4, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 27.9. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CWY CLEANAWAY WASTE MANAGEMENT LIMITED
Industrial Sector Contractors & Engineers
Overnight Price: $1.30
Morgans rates CWY as Downgrade to Hold from Add (3) -
Morgans takes the opportunity to moderate the average sales price assumed for recycled waste oils, as per movements in oil prices. This reduces the broker's growth outlook, albeit strong growth is still assumed for FY17 via cost reductions and contract wins.
The broker downgrades FY17-19 forecasts for EBITDA by -1-2%. Target is lifted to $1.30 from $1.22. The share price has been strong and is currently trading in line with the revised target and the broker downgrades to Hold from Add.
Target price is $1.30 Current Price is $1.30 Difference: $0.005
If CWY meets the Morgans target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $1.21, suggesting downside of -4.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 2.30 cents and EPS of 4.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.5, implying annual growth of 60.7%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.7%. Current consensus EPS estimate suggests the PER is 28.0. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 2.90 cents and EPS of 5.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.5, implying annual growth of 22.2%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 22.9. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates DOW as Hold (3) -
Disagreeing with Spotless ((SPO)) that Downer's takeover offer undervalues the company, Downer has declared its $1.15 price take it of leave it, in the absence of a superior proposal.
Downer's advice is there won't be regulatory issues and the offer has been extended to end-May. Meanwhile, Spotless has guided to an FY18 profit range 24-35% below that of FY16. No other offer has been forthcoming.
The broker retains Hold and a $5.49 target for Downer.
Target price is $5.49 Current Price is $5.88 Difference: minus $0.39 (current price is over target).
If DOW meets the Deutsche Bank target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.20, suggesting upside of 5.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 26.00 cents and EPS of 35.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 36.8, implying annual growth of -8.7%. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.9. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 32.00 cents and EPS of 45.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.5, implying annual growth of 10.1%. Current consensus DPS estimate is 24.4, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.5. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates EVN as Outperform (1) -
The company has indicated that divestments are more likely than acquisitions as opportunities are currently limited and potential targets fully valued. Disposal of Edna May remains under consideration, with the chairman confirming divestment would improve the overall quality of the portfolio.
Macquarie observes the stock remains a high-margin, high cash-generating business with a sustainable production outlook. Outperform maintained. Target is $2.70.
Target price is $2.70 Current Price is $2.21 Difference: $0.49
If EVN meets the Macquarie target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $2.57, suggesting upside of 19.2% (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 13.50 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 3.9, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 13.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 6.00 cents and EPS of 23.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 20.4, implying annual growth of 24.4%. Current consensus DPS estimate is 4.3, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 10.6. |
Market Sentiment: 0.9
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates FLT as Underweight (5) -
Morgan Stanley does not expect the company to disappoint on FY17 earnings, especially as flight price deflation is moderating based on its propriety data, but believes the recent rally is pre-empting a cost reduction program that will need to be significant to achieve consensus FY18 expectations.
Underweight retained. Target is $25. Industry view is In-Line.
Target price is $25.00 Current Price is $32.61 Difference: minus $7.61 (current price is over target).
If FLT meets the Morgan Stanley target it will return approximately minus 23% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.74, suggesting downside of -5.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 132.00 cents and EPS of 214.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.3, implying annual growth of -12.4%. Current consensus DPS estimate is 130.1, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 15.3. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 120.00 cents and EPS of 201.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 222.1, implying annual growth of 4.6%. Current consensus DPS estimate is 137.0, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 14.7. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FXL as Neutral (3) -
The company has guided to FY17 cash net profit to be a touch lower than previously expected. Certegy remains behind expectations while the company will invest $2m in the Ireland technology platform.
UBS expects further detail on the performance of Certegy and new product releases in June. The broker suspects double-digit growth in cash net profit in FY18 will be a stretch, because of a significant step up required in Certegy, NZ cards and Australian leasing divisions.
Neutral maintained. Target is reduced to $2.17 from $2.25.
Target price is $2.17 Current Price is $2.08 Difference: $0.09
If FXL meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $2.48, suggesting upside of 21.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 7.50 cents and EPS of 24.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.9, implying annual growth of 71.7%. Current consensus DPS estimate is 7.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 8.2. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 9.50 cents and EPS of 26.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.8, implying annual growth of 7.6%. Current consensus DPS estimate is 9.3, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 7.6. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates GMA as Outperform (1) -
Macquarie believes excess capital should continue to drive outperformance. The company is seeking approval for a buy-back of up to around 25% of issued capital at the AGM on May 11.
The company has indicated in its March quarter results that underlying net profit was up 10.7%, buoyed by a higher LVR mix and the price rises implemented in 2016.
Outperform rating retained. Target rises to $3.63 from $3.62.
Target price is $3.63 Current Price is $3.07 Difference: $0.56
If GMA meets the Macquarie target it will return approximately 18% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 23.90 cents and EPS of 28.70 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 25.90 cents and EPS of 32.30 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates GMA as Sell (5) -
The company's update confirmed for UBS that slowing top-line growth and associated negative operating leverage beyond FY17 are likely to be a challenge and outweigh the prospect of substantial buy-backs over the next couple of years.
Sell rating and $2.60 target maintained.
Target price is $2.60 Current Price is $3.07 Difference: minus $0.47 (current price is over target).
If GMA meets the UBS target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 29.00 cents and EPS of 29.00 cents. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 26.00 cents and EPS of 25.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HIG as Add (1) -
March quarter production was strong at the Ramu nickel joint venture, which produced a product containing 7m884t of nickel and 755t of cobalt, despite a scheduled shutdown for maintenance.
Morgans observes cobalt prices have risen over the quarter to average above US$21/lb.
Morgans maintains a $0.22 target, envisaging risk of downside should control of the company be ceded to the operator of the Frieda River joint venture. Add rating retained.
Target price is $0.22 Current Price is $0.06 Difference: $0.158
If HIG meets the Morgans target it will return approximately 255% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 0.50 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 cents and EPS of 0.20 cents. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates IPL as Neutral (3) -
Credit Suisse does not believe the balance of probabilities favours a bull thesis for fertiliser markets in the medium term despite a rally in prices in the March quarter.
The broker upgrades forecasts primarily on changes to fertiliser prices and currency assumptions. Neutral retained. Target rises to $3.58 from $3.28.
Credit Suisse also finds prospective returns on expansion investment within the existing scope of business not particularly exciting. The company's narrow downstream footprint in the US market does not lend itself to meaningful synergy, in the broker's opinion.
Target price is $3.58 Current Price is $3.63 Difference: minus $0.05 (current price is over target).
If IPL 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 $3.78, suggesting upside of 3.1% (ex-dividends)
The company's fiscal year ends in September.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 9.50 cents and EPS of 18.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.0, implying annual growth of 150.0%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.10 cents and EPS of 20.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.0, implying annual growth of 21.1%. Current consensus DPS estimate is 12.3, implying a prospective dividend yield of 3.4%. 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 ISD as Outperform (1) -
Macquarie found some early positive signs emerging from the company's presentation at its conference.
The broker believes there is inherent value in the stock but appreciates that, with two earnings downgrades in three months, it will take time for this to be realised and the FY17 results is the next catalyst.
Target is reduced to $2.36 from $2.42. Outperform maintained.
Target price is $2.36 Current Price is $1.65 Difference: $0.71
If ISD meets the Macquarie target it will return approximately 43% (excluding dividends, fees and charges).
Current consensus price target is $2.12, suggesting upside of 30.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.40 cents and EPS of 12.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.9, implying annual growth of 14.6%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.30 cents and EPS of 14.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.5, implying annual growth of 11.5%. Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 10.5. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates JBH as Accumulate (2) -
The company has reiterated guidance for FY17 net profit of $200-206m. Ord Minnett remains confident regarding the opportunity with The Good Guys.
While recognising that Amazon is a threat, the broker believes the company is comparatively better placed to deal with this versus its domestic peers.
Accumulate rating and $32 target maintained.
Target price is $32.00 Current Price is $25.50 Difference: $6.5
If JBH meets the Ord Minnett target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $30.28, suggesting upside of 19.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 120.00 cents and EPS of 168.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 184.6, implying annual growth of 20.1%. Current consensus DPS estimate is 118.3, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 13.8. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 137.00 cents and EPS of 209.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 205.9, implying annual growth of 11.5%. Current consensus DPS estimate is 134.0, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MDL as Buy (1) -
March quarter production revealed strong mining rates with pricing momentum for zircon and titanium feedstocks. The recent equity rating has reduced immediate financial concerns.
Operating improvements and the tailwind of rising prices positively tilt the balance of risks, in Ord Minnett's view. This causes the broker to retain a Speculative Buy recommendation. Target is reduced to $0.60 from $0.65.
Target price is $0.60 Current Price is $0.52 Difference: $0.085
If MDL meets the Ord Minnett target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 6.65 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 0.00 cents and EPS of 5.32 cents. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates NUF as Sell (5) -
Nufarm has reiterated FY earnings guidance, while warning that conditions remain competitive with weak commodity prices prevailing due to full inventories and strong global crop harvests.
The broker retains Sell and a $6.60 target.
Target price is $6.60 Current Price is $10.23 Difference: minus $3.63 (current price is over target).
If NUF meets the Deutsche Bank target it will return approximately minus 35% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.67, suggesting downside of -5.4% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 13.00 cents and EPS of 43.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.4, implying annual growth of 693.4%. Current consensus DPS estimate is 13.6, implying a prospective dividend yield of 1.3%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 14.80 cents and EPS of 49.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.1, implying annual growth of 22.1%. Current consensus DPS estimate is 15.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates OGC as Outperform (1) -
Controversial anti-mining secretary of the Philippines, Gina Lopez, has been rejected by the Senate and a new secretary will be appointed.
Her replacement is unknown so Credit Suisse cannot conclude at this stage that the the ban on all future open pit mining and suspended operations will be overturned.
Credit Suisse retains an Outperform rating and $4.20 target.
Target price is $4.20 Current Price is $4.44 Difference: minus $0.24 (current price is over target).
If OGC meets the Credit Suisse target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.53, suggesting upside of 4.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 2.66 cents and EPS of 54.84 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.2, implying annual growth of N/A. Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 10.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 2.66 cents and EPS of 40.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 42.1, implying annual growth of 2.2%. Current consensus DPS estimate is 3.6, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 10.3. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ORA as Hold (3) -
Orora has reiterated FY guidance, subject to global conditions, but warned of rising electricity costs and a 15% increase in the price of OCC (sounds fancy - actually stands for "old corrugated cardboard"). On the plus side, the integration of Orora Visual acquisitions is proving successful.
The broker retains Hold and a $2.95 target.
Target price is $2.95 Current Price is $2.90 Difference: $0.05
If ORA meets the Deutsche Bank target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $3.23, suggesting upside of 12.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 10.20 cents and EPS of 14.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.9, implying annual growth of 5.7%. Current consensus DPS estimate is 10.4, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 19.3. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 11.20 cents and EPS of 15.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.8, implying annual growth of 12.8%. Current consensus DPS estimate is 11.3, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 17.1. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates PGH as Neutral (3) -
Credit Suisse lowers forecasts for earnings per share by -4-7%. The company has stated that, excluding incremental earnings from acquisitions, FY17 earnings will generally be flat. Benefits from the efficiency program will be offset by lower volumes.
The broker expects upgrades are likely to come from acquisitions. Target is reduced to $6.45 from $6.65. Neutral retained.
Target price is $6.45 Current Price is $6.60 Difference: minus $0.15 (current price is over target).
If PGH meets the Credit Suisse target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $6.73, suggesting upside of 7.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 23.00 cents and EPS of 35.35 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.9, implying annual growth of 20.3%. Current consensus DPS estimate is 23.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 25.00 cents and EPS of 39.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.3, implying annual growth of 15.5%. Current consensus DPS estimate is 26.9, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates PGH as Downgrade to Neutral from Outperform (3) -
The company reiterated guidance at the Macquarie Conference but highlighted that growth will come from acquisitions, as the base business is flat and demand for rigid plastics was very weak in April.
Macquarie reduces FY17 and FY18 estimates for earnings per share by -6% and -4% respectively, to account for this base business performance, and factors in a more gradual improvement over time.
Rating is downgraded to Neutral from Outperform. Target is lowered to $6.80 from $7.00.
Target price is $6.80 Current Price is $6.60 Difference: $0.2
If PGH meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $6.73, suggesting upside of 7.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 22.10 cents and EPS of 33.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.9, implying annual growth of 20.3%. Current consensus DPS estimate is 23.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 25.20 cents and EPS of 38.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.3, implying annual growth of 15.5%. Current consensus DPS estimate is 26.9, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates PGH as Hold (3) -
The company has updated its guidance, signalling earnings growth will be flat in FY17. Demand is subdued, with the company noting particularly weak trading in April in the rigid packaging business.
Morgans remains attracted to the company's dominant market positions in Australasia, high margins and exposure to rigid plastics but, until organic growth returns, maintains a Hold rating.Target is reduced to $6.88 from $6.96.
Target price is $6.88 Current Price is $6.60 Difference: $0.28
If PGH meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.73, suggesting upside of 7.9% (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 36.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.9, implying annual growth of 20.3%. Current consensus DPS estimate is 23.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 17.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 27.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 40.3, implying annual growth of 15.5%. Current consensus DPS estimate is 26.9, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates PGH as Downgrade to Hold from Accumulate (3) -
The company has pointed to particularly weak trading conditions in April for the rigid packaging business. On Ord Minnett estimates, guidance implies revenue is set to decline around -6% on an organic in the second half.
While the market's reaction to the announcement is overdone, in the broker's opinion, given the stock is trading within 3.8% of the target, the recommendation is reduced to Hold from Accumulate. Target is reduced to $6.85 from $7.00.
Target price is $6.85 Current Price is $6.60 Difference: $0.25
If PGH meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.73, suggesting upside of 7.9% (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 34.9, implying annual growth of 20.3%. Current consensus DPS estimate is 23.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 17.9. |
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 40.3, implying annual growth of 15.5%. Current consensus DPS estimate is 26.9, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 15.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates QBE as Underperform (5) -
The company has reaffirmed guidance at its AGM but did not include the usual update on the market environment for the quarter.
Credit Suisse observes a decision to not provide detail around first quarter trading conditions may be based on a change in approach by management to pull back from historically upbeat AGM commentary, or some underlying negative trends which need to be assessed further.
Underperform and $12.60 target retained.
Target price is $12.60 Current Price is $12.98 Difference: minus $0.38 (current price is over target).
If QBE meets the Credit Suisse target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $13.21, suggesting upside of 2.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 70.50 cents and EPS of 83.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 82.3, implying annual growth of N/A. Current consensus DPS estimate is 59.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 81.03 cents and EPS of 95.64 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 23.2%. Current consensus DPS estimate is 68.3, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates QBE as Hold (3) -
QBE reiterated FY guidance at its AGM and suggested March Q performance indicated the target of relatively stable gross written premiums, in constant currency terms, will be met. The broker's updated currency forecasts imply a GWP forecast -3% below.
Marking currencies to market also leads to a drop in earnings forecasts. Target falls to $13.00 from $13.10. Hold retained.
Target price is $13.00 Current Price is $12.98 Difference: $0.02
If QBE meets the Deutsche Bank target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $13.21, suggesting upside of 2.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 51.88 cents and EPS of 79.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 82.3, implying annual growth of N/A. Current consensus DPS estimate is 59.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 66.51 cents and EPS of 101.09 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 23.2%. Current consensus DPS estimate is 68.3, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates QBE as Lighten (4) -
The company has maintained guidance for 2017 and 2018 and stated that, while conditions are challenging, an improvement is being witnessed versus 2016.
The company remains confident it will hit its targets in 2017. Ord Minnett notes these targets assume an improvement in the US and some expense savings that, until 2016, have not been evident.
Lighten rating retained. Target is $11.32.
Target price is $11.32 Current Price is $12.98 Difference: minus $1.66 (current price is over target).
If QBE 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 $13.21, suggesting upside of 2.9% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 37.24 cents and EPS of 59.86 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 82.3, implying annual growth of N/A. Current consensus DPS estimate is 59.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 53.21 cents and EPS of 87.79 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 101.4, implying annual growth of 23.2%. Current consensus DPS estimate is 68.3, implying a prospective dividend yield of 5.3%. Current consensus EPS estimate suggests the PER is 12.7. |
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SGR as Buy (1) -
An update from Star revealed a deterioration in domestic gambling spend, tempered by a decline in VIP turnover that has not been as bad as feared.
Qld pokie players have stayed home apparently, given net domestic revenue was up only 4.1% in the year to April, down from an earlier run rate of 11.4% and below the broker's 7.9% forecast. Sydney revenue rose 8%.
The broker has cut forecast earnings and its target to $6.05 from $6.20. Buy retained.
Target price is $6.05 Current Price is $5.44 Difference: $0.61
If SGR meets the Deutsche Bank target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.07, suggesting upside of 13.7% (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 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.5, implying annual growth of 12.3%. Current consensus DPS estimate is 14.7, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 20.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 15.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.9, implying annual growth of 12.8%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SGR as Outperform (1) -
The company has indicated Sydney is reaping the rewards of refurbishment and a revamped loyalty program. For the four months to April gross revenue, excluding international VIP, rose 4.1%.
Macquarie believes the company is well-placed to benefit from strong tourism and a more favourable macro outlook.This is because of its exposure to higher-rate east coast tourism growth and avoiding Western Australia's weaker economy.
Outperform rating retained. Target is reduced to $6.00 from $6.10.
Target price is $6.00 Current Price is $5.44 Difference: $0.56
If SGR meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $6.07, suggesting upside of 13.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 15.50 cents and EPS of 24.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.5, implying annual growth of 12.3%. Current consensus DPS estimate is 14.7, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 20.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 19.00 cents and EPS of 27.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.9, implying annual growth of 12.8%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SGR as Add (1) -
A sharp decline in gross gaming revenue over the past 11 weeks has tempered a strong start for the second half and Morgans downgrades estimates. VIP turnover remains weak.
The broker still believes the company is well-positioned as it heads into FY18, with substantial capital works now behind it. Add recommendation retained and the target is lowered to $6.03 from $6.12.
Target price is $6.03 Current Price is $5.44 Difference: $0.59
If SGR meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.07, suggesting upside of 13.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 15.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.5, implying annual growth of 12.3%. Current consensus DPS estimate is 14.7, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 20.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 15.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.9, implying annual growth of 12.8%. Current consensus DPS estimate is 15.6, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 17.8. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SIQ as Outperform (1) -
The company has purchased AccessPay, which appears to Credit Suisse to be a good fit with the Advantage business. There is an opportunity to expand margins in the two businesses, with a very similar client base.
The company has signalled trading in the year-to-date is positive. The broker remains of the view that the company is still in an upgrade cycle. Outperform retained. Target rises to $7.45 from $7.05.
Target price is $7.45 Current Price is $6.69 Difference: $0.76
If SIQ meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $7.24, suggesting upside of 7.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 28.59 cents and EPS of 46.49 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.7, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 31.10 cents and EPS of 50.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.5, implying annual growth of 13.0%. Current consensus DPS estimate is 32.8, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 13.3. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SIQ as Outperform (1) -
The company has acquired AccessPay for $15m. The client base is similar to Advantage and will be managed by the Advantage founder and CEO under Smart group's ownership.
Price target is raised to $7.72 from $7.40. Macquarie believes that 2017 outlook is strong and forecasts imply organic growth of around 6%. Outperform retained.
Target price is $7.72 Current Price is $6.69 Difference: $1.03
If SIQ meets the Macquarie target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $7.24, suggesting upside of 7.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 32.40 cents and EPS of 46.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.7, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 15.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 36.00 cents and EPS of 51.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.5, implying annual growth of 13.0%. Current consensus DPS estimate is 32.8, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 13.3. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SYD as Underperform (5) -
Following the company passing up the challenge to build and operate the Western Sydney Airport, Credit Suisse raises its target to $6.50 from $5.50.
This is because the risk of the company taking on a dilutive project is eliminated. Nevertheless, the broker considers the shares more than fully valued and retains a Underperform rating.
Target price is $6.50 Current Price is $7.05 Difference: minus $0.55 (current price is over target).
If SYD 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 $6.77, suggesting downside 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 34.00 cents and EPS of 14.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of N/A. Current consensus DPS estimate is 33.9, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 44.2. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 36.00 cents and EPS of 16.21 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 17.8, implying annual growth of 12.7%. Current consensus DPS estimate is 36.1, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 39.3. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates VOC as Neutral (3) -
Credit Suisse reduces estimates for FY17 EBITDA by -14.3%, following the company's update, which now expects FY17 EBITDA in the range of $365-375m versus prior guidance of $430-450m. The broker reduces FY17 net profit estimates by -21%.
The broker accepts the company owns some solid network assets but poor processes mean that the core corporate and wholesale businesses are underperforming.
Credit Suisse considers the issues are largely fixable and performance can improve, but this will take time, while visibility on success is limited. Neutral retained. Target is reduced to $2.60 from $5.00.
Target price is $2.60 Current Price is $2.44 Difference: $0.16
If VOC meets the Credit Suisse target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 10.00 cents and EPS of 26.12 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates VOC as Downgrade to Hold from Buy (3) -
Deutsche Bank's response to Vocus' latest profit warning is perhaps best represented by a drop in target to $2.23 from $7.05. Rating downgraded to Hold from Buy.
The broker cites low earnings growth, limited earnings visibility, a weak balance sheet and minimal total shareholder return. Acquisition synergies are on track but more will need to be spent to improve service delivery, processes and technology platforms.
The FY18 outlook appears challenging, the broker suggests.
Target price is $2.23 Current Price is $2.44 Difference: minus $0.21 (current price is over target).
If VOC meets the Deutsche Bank target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 7.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 3.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates VOC as Downgrade to Neutral from Outperform (3) -
The company provided a disappointing update and, given the size of downgrades over a short period of time, Macquarie moves to Neutral from Outperform.This is reflecting ongoing uncertainty over the operating side of the business.
The changed accounting approach compounds the downgrade, but also highlights for the broker that the company was relying on a very significant contribution from lumpy network sales in the second half in order to meet guidance. Target is reduced to $3.00 from $5.00.
Target price is $3.00 Current Price is $2.44 Difference: $0.56
If VOC meets the Macquarie target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 13.10 cents and EPS of 26.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 10.70 cents and EPS of 21.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates VOC as Equal-weight (3) -
Morgan Stanley believes the sector risks for shareholders are amplified by company-specific factors such as poor execution, strategic gaps in the business mix and high debt levels. The company now guides for earnings per share for FY17 be one third lower than previous forecasts.
Of most concern for Morgan Stanley is that the source of the downgrades are company specific. The broker is not convinced the worst is behind the stock. Equal-weight rating retained. Target is reduced to $2.55 from $5.00.
The broker downgrades forecasts for earnings per share by -24-32% for FY17-19. Industry view is In-Line.
Target price is $2.55 Current Price is $2.44 Difference: $0.11
If VOC meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 13.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 13.70 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates VOC as Downgrade to Reduce from Hold (5) -
Morgans is troubled by a number of items in the company's trading update, including an underlying decline in EBITDA, and negative free cash flow in the second half which has pushed debt levels higher.
While there is long-term upside risk and corporate appeal in the stock it seems to the broker the share price may worsen before it improves.
The broker downgrades to Reduce from Hold and lowers the target to $1.97 from $3.64.
Target price is $1.97 Current Price is $2.44 Difference: minus $0.47 (current price is over target).
If VOC 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 $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 7.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 7.00 cents and EPS of 23.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates VOC as Downgrade to Neutral from Buy (3) -
UBS has noted two additional negative aspects after the company's update. The company has indicated free cash flow conversion will be weak in the third quarter, perhaps even weaker than the first half. The net debt to EBITDA covenant will become more onerous, although the future profile is undisclosed.
The broker is more positive about the suggestion that around $400m in EBITDA could be the base for FY18, although estimates a more conservative $360-370m.
Rating is downgraded to Neutral from Buy. Target is reduced to $2.50 from $5.00.
Target price is $2.50 Current Price is $2.44 Difference: $0.06
If VOC meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $2.72, suggesting upside of 13.5% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 11.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.4, implying annual growth of 29.4%. Current consensus DPS estimate is 10.7, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 9.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 9.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.8, implying annual growth of -2.5%. Current consensus DPS estimate is 10.1, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 10.1. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WHC as Outperform (1) -
Credit Suisse updates earnings estimates post its recent commodities update and the March quarter production result.
FY17 estimates are reduced by -7%, largely because of poor a price realisation. FY18 estimates are down -13% on higher FX and slightly softer commodity price assumptions.
Outperform and $3.60 target retained.
Target price is $3.60 Current Price is $2.78 Difference: $0.82
If WHC meets the Credit Suisse target it will return approximately 29% (excluding dividends, fees and charges).
Current consensus price target is $3.21, suggesting upside of 18.0% (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 40.19 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.4, implying annual growth of 1871.4%. Current consensus DPS estimate is 2.3, implying a prospective dividend yield of 0.8%. Current consensus EPS estimate suggests the PER is 6.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 20.01 cents and EPS of 40.01 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 39.1, implying annual growth of -5.6%. Current consensus DPS estimate is 11.1, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 7.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| AMC - | AMCOR | Buy - Deutsche Bank | Overnight Price $15.20 |
| AQG - | ALACER GOLD | Outperform - Credit Suisse | Overnight Price $2.02 |
| Buy - Deutsche Bank | Overnight Price $2.02 | ||
| ASX - | ASX | Lighten - Ord Minnett | Overnight Price $51.08 |
| Neutral - UBS | Overnight Price $51.08 | ||
| AWC - | ALUMINA | Underperform - Credit Suisse | Overnight Price $1.72 |
| BBN - | BABY BUNTING | Overweight - Morgan Stanley | Overnight Price $1.72 |
| CSL - | CSL | Outperform - Credit Suisse | Overnight Price $133.43 |
| Accumulate - Ord Minnett | Overnight Price $133.43 | ||
| Neutral - UBS | Overnight Price $133.43 | ||
| CWY - | CLEANAWAY WASTE MANAGEMENT | Downgrade to Hold from Add - Morgans | Overnight Price $1.30 |
| DOW - | DOWNER EDI | Hold - Deutsche Bank | Overnight Price $5.88 |
| EVN - | EVOLUTION MINING | Outperform - Macquarie | Overnight Price $2.21 |
| FLT - | FLIGHT CENTRE | Underweight - Morgan Stanley | Overnight Price $32.61 |
| FXL - | FLEXIGROUP | Neutral - UBS | Overnight Price $2.08 |
| GMA - | GENWORTH MORTGAGE INSUR | Outperform - Macquarie | Overnight Price $3.07 |
| Sell - UBS | Overnight Price $3.07 | ||
| HIG - | HIGHLANDS PACIFIC | Add - Morgans | Overnight Price $0.06 |
| IPL - | INCITEC PIVOT | Neutral - Credit Suisse | Overnight Price $3.63 |
| ISD - | ISENTIA | Outperform - Macquarie | Overnight Price $1.65 |
| JBH - | JB HI-FI | Accumulate - Ord Minnett | Overnight Price $25.50 |
| MDL - | MINERAL DEPOSITS | Buy - Ord Minnett | Overnight Price $0.52 |
| NUF - | NUFARM | Sell - Deutsche Bank | Overnight Price $10.23 |
| OGC - | OCEANAGOLD | Outperform - Credit Suisse | Overnight Price $4.44 |
| ORA - | ORORA | Hold - Deutsche Bank | Overnight Price $2.90 |
| PGH - | PACT GROUP | Neutral - Credit Suisse | Overnight Price $6.60 |
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $6.60 | ||
| Hold - Morgans | Overnight Price $6.60 | ||
| Downgrade to Hold from Accumulate - Ord Minnett | Overnight Price $6.60 | ||
| QBE - | QBE INSURANCE | Underperform - Credit Suisse | Overnight Price $12.98 |
| Hold - Deutsche Bank | Overnight Price $12.98 | ||
| Lighten - Ord Minnett | Overnight Price $12.98 | ||
| SGR - | STAR ENTERTAINMENT | Buy - Deutsche Bank | Overnight Price $5.44 |
| Outperform - Macquarie | Overnight Price $5.44 | ||
| Add - Morgans | Overnight Price $5.44 | ||
| SIQ - | SMARTGROUP | Outperform - Credit Suisse | Overnight Price $6.69 |
| Outperform - Macquarie | Overnight Price $6.69 | ||
| SYD - | SYDNEY AIRPORT | Underperform - Credit Suisse | Overnight Price $7.05 |
| VOC - | VOCUS COMMUNICATIONS | Neutral - Credit Suisse | Overnight Price $2.44 |
| Downgrade to Hold from Buy - Deutsche Bank | Overnight Price $2.44 | ||
| Downgrade to Neutral from Outperform - Macquarie | Overnight Price $2.44 | ||
| Equal-weight - Morgan Stanley | Overnight Price $2.44 | ||
| Downgrade to Reduce from Hold - Morgans | Overnight Price $2.44 | ||
| Downgrade to Neutral from Buy - UBS | Overnight Price $2.44 | ||
| WHC - | WHITEHAVEN COAL | Outperform - Credit Suisse | Overnight Price $2.78 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 17 |
| 2. Accumulate | 2 |
| 3. Hold | 17 |
| 4. Reduce | 2 |
| 5. Sell | 7 |
Thursday 04 May 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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