Australian Broker Call
February 24, 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: 04:40 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
| 3PL - | 3P LEARNING | Upgrade to Outperform from Neutral | Macquarie |
| AAD - | ARDENT LEISURE | Downgrade to Sell from Buy | Citi |
| AHY - | ASALEO CARE | Upgrade to Outperform from Neutral | Credit Suisse |
| APN - | APN NEWS & MEDIA | Upgrade to Buy from Neutral | UBS |
| CWN - | CROWN RESORTS | Downgrade to Neutral from Outperform | Credit Suisse |
| CWY - | CLEANAWAY WASTE MANAGEMENT | Upgrade to Add from Hold | Morgans |
| Downgrade to Neutral from Outperform | Macquarie | ||
| Downgrade to Neutral from Buy | UBS | ||
| EPW - | ERM POWER | Downgrade to Sell from Neutral | Citi |
| FLT - | FLIGHT CENTRE | Upgrade to Outperform from Neutral | Credit Suisse |
| LOV - | LOVISA | Downgrade to Hold from Add | Morgans |
| MYO - | MYOB | Upgrade to Neutral from Underperform | Credit Suisse |
| PTM - | PLATINUM | Upgrade to Hold from Sell | Ord Minnett |
| SIQ - | SMARTGROUP | Upgrade to Neutral from Sell | Citi |
| SOM - | SOMNOMED | Upgrade to Add from Hold | Morgans |
| SXL - | SOUTHERN CROSS MEDIA | Downgrade to Neutral from Outperform | Credit Suisse |
| TGR - | TASSAL GROUP | Upgrade to Outperform from Neutral | Credit Suisse |
| VOC - | VOCUS COMMUNICATIONS | Downgrade to Neutral from Outperform | Credit Suisse |
| WEB - | WEBJET | Downgrade to Neutral from Buy | UBS |
Macquarie rates 3PL as Upgrade to Outperform from Neutral (1) -
3P's first half result was ahead of the broker's expectations. No specific guidance was provided, but the company reiterated it is on track to deliver a $2m annualised cost saving relative to the second half of FY16, and expects to deliver revenue growth ahead of cost growth.
Macquarie has raised FY17 earnings forecast by 3.8%, reflecting the improved operational outlook.
The broker upgrades the stock to Outperform from Neutral and raises the target price to $1.25 from $1.00.
Target price is $1.25 Current Price is $0.99 Difference: $0.26
If 3PL meets the Macquarie target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $1.18, suggesting upside of 13.0% (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 4.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.0, implying annual growth of 31.6%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 26.0. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 6.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.1, implying annual growth of 27.5%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 20.4. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates AAD as Downgrade to Sell from Buy (5) -
The deterioration in like-for-like sales at Main Event has Citi analysts worried. As the analysts have come to the conclusion the situation is unlikely to improve short term, they downgrade to Sell from Buy (that's a double notch downgrade).
The deterioration in momentum is especially concerning, point out the analysts, given Main Event is cycling an undemanding 3Q16 growth comparison. Clearly, the initiatives announced at FY16 results have not successfully improved sales. Is competition starting to impact?
Earnings estimates have been culled by -17% to -29% for FY17-FY19. Target Price crashes by -42% to $1.55.
Target price is $1.55 Current Price is $1.69 Difference: minus $0.14 (current price is over target).
If AAD 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 $1.86, suggesting upside of 12.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 4.50 cents and EPS of 7.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 5.50 cents and EPS of 7.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AAD as Outperform (1) -
First half results disappointed on several fronts. Credit Suisse lowers FY17-19 estimates for earnings per share by -16-24%.
Credit Suisse accepts market confidence is shaken and disclosure levels need to be addressed but believes the correlation between the life-for-like performance and Texan economic conditions has been strong over time. Texas retail sales have been strong for the past four months and this keeps the broker's Outperform rating in place.
The broker does not believe the valuation is challenged. Target is lowered to $2.25 from $2.80.
Target price is $2.25 Current Price is $1.69 Difference: $0.56
If AAD meets the Credit Suisse target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 5.47 cents and EPS of 7.31 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 7.04 cents and EPS of 9.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AAD as Hold (3) -
Ardent's result missed the broker, who suggests further weakness in Main Event is a concern given it is this business that is expected to drive earnings. It brings into question the pace of store rollout, particularly given the lingering impact on Dreamworld is uncertain.
The broker has slashed earnings forecasts. Target falls to $2.10 from $2.50, Hold retained.
Target price is $2.10 Current Price is $1.69 Difference: $0.41
If AAD meets the Deutsche Bank target it will return approximately 24% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 12.00 cents and EPS of 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 12.00 cents and EPS of 8.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AAD as Neutral (3) -
Ardent Leisure's first half result was messy, according to the broker. The result was impacted by the Dreamworld incident, the completion of the Health Clubs sale and the closure of Kingpin Crown.
Macquarie expects second half like for like sales to be negative and only 1% better in FY18.
Target falls to $1.78 from $2.21 and Neutral retained.
Target price is $1.78 Current Price is $1.69 Difference: $0.09
If AAD meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (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 2.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates AAD as Hold (3) -
First half results were in line with forecasts. Morgans found the Main Event trading update weak.
Following a sustained period of no constant currency growth the broker awaits confirmation this business can return to positive comparables.
Hold rating retained. Target falls to $1.84 from $2.03.
Target price is $1.84 Current Price is $1.69 Difference: $0.15
If AAD meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans 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 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 5.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates AAD as Hold (3) -
First half results were below forecasts. Ord Minnett observes sales declines at Main Event drove the weakness and remains concerned that challenges in this division may be enduring.
The broker suspects market estimates may already reflect a bull-case scenario. Hold rating retained. Target is lowered to $1.70 from $1.90.
Target price is $1.70 Current Price is $1.69 Difference: $0.01
If AAD meets the Ord Minnett target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (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 minus 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 6.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AAD as Neutral (3) -
Ardent's loss and announced impairment of Dreamworld was, under the circumstances, no surprise. What did disappoint the broker was a decline in Main Event revenues. It is difficult to assess just how much of this softness is within management's control, the broker notes.
If Main Event posts a third consecutive half of weakness, the market will begin to question the company's rollout strategy, the broker suggests. Neutral retained. Target falls to $1.80 from $2.30.
Target price is $1.80 Current Price is $1.69 Difference: $0.11
If AAD meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $1.86, suggesting upside of 12.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 5.00 cents and EPS of minus 0.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.4, implying annual growth of -74.4%. Current consensus DPS estimate is 5.9, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 68.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 5.00 cents and EPS of 4.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 6.7, implying annual growth of 179.2%. Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 24.6. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ABA as Neutral (3) -
Auswide Bank's first half results were disappointing to Macquarie, although the broker noted the half appeared to be a tough period for regional banks.
Auswide recently announced it was increasing its stake in MoneyPlace from 19.3% to 75%. Management are targeting $60m in the consumer lending portfolio by June 2019, in part driven by MoneyPlace.
Macquarie lowers FY17 earnings forecast by -8% on lower than expected loan growth and margins. Neutral and $5.25 target retained.
Target price is $5.25 Current Price is $5.28 Difference: minus $0.03 (current price is over target).
If ABA meets the Macquarie target it will return approximately minus 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 30.00 cents and EPS of 37.50 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 31.00 cents and EPS of 43.90 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates ABC as Sell (5) -
First half results missed expectations back in September. Now guidance for 2016 turned out a "miss" too. The announced acquisition is welcomed, but insufficient to fundamentally change Citi's view on the company's outlook.
Citi analysts are also not comfortable with the fact the company is now paying out more in dividends, including specials, than is covered by its free cash flow generation. Sell.
The analysts think market consensus expectations are too bullish. They also note the stock is trading at a 48% premium to its long term PE multiple of 12.1x. Target loses 20c to $4.80.
Target price is $4.80 Current Price is $5.45 Difference: minus $0.65 (current price is over target).
If ABC meets the Citi target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 21.00 cents and EPS of 30.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 29.50 cents and EPS of 31.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ABC as Neutral (3) -
Credit Suisse found the 2016 result hard to fault. The company's ability to sustain underlying earnings growth despite end-market volatility should ultimately be accompanied by a higher multiple, the broker believes.
Further bolt-on acquisitions are expected in the wake of the Melbourne concrete and quarry business purchase just announced. Special dividends appear off the radar for now. Target raised to $5.70 from $5.55. Neutral rating retained.
Target price is $5.70 Current Price is $5.45 Difference: $0.25
If ABC meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 23.00 cents and EPS of 32.17 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 24.00 cents and EPS of 33.18 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ABC as Hold (3) -
Were it not for a weaker WA and the impact of SA power outages, Adelaide Brighton would have hit the top end of guidance rather than missing the broker. Management is nevertheless optimistic about 2017.
The broker expects WA housing to return to growth in 2018. Meanwhile, concrete price increases offer upside if they stick, the broker suggest. Hold retained. Target falls to $5.09 from $5.31.
Target price is $5.09 Current Price is $5.45 Difference: minus $0.36 (current price is over target).
If ABC 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 $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 23.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 25.00 cents and EPS of 30.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates ABC as Outperform (1) -
The company's 2016 results were below the broker's expectations, mainly due to energy issues in South Australia. No explicit guidance was forthcoming, but Macquarie expects higher volumes and price growth suggest a solid recovery is in store.
The company has agreed to purchase Central Pre-Mix, a concrete and aggregate operation in Melbourne, for $61m. The deal is expected to be accretive in FY17.
Macquarie has increased FY17 earnings forecast by 3% and FY18 forecast by 11%. Neutral retained and target rises to $6.30 from $6.00.
Target price is $6.30 Current Price is $5.45 Difference: $0.85
If ABC meets the Macquarie target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 29.00 cents and EPS of 32.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 26.00 cents and EPS of 36.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ABC as Underweight (5) -
2016 results were below expectations and Morgan Stanley was surprised by the extent of the weakness.
The broker assumes some costs were one-off in nature and, incorporating the acquisition of Central Pre-Mix, leaves medium-term forecasts unchanged.
The broker considers significant volume growth in cement is unlikely in 2017 and remains cautious about the ability of higher prices to stick materially.
Underweight retained. Target is reduced to $4.50 from $4.59. Industry view: In-Line
Target price is $4.50 Current Price is $5.45 Difference: minus $0.95 (current price is over target).
If ABC 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 $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 28.00 cents and EPS of 27.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 26.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ABC as Hold (3) -
2016 results missed forecasts. Ord Minnett believes the miss was more than offset by a particularly upbeat commentary on the outlook. This is mainly attributable to the investment in infrastructure which is ramping up across many states.
The broker raises net profit estimates by an average of 1.7% for the next three years. Hold retained. Target rises to $5.05 from $4.90.
Target price is $5.05 Current Price is $5.45 Difference: minus $0.4 (current price is over target).
If ABC meets the Ord Minnett target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.24, suggesting downside of -2.4% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 29.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.8, implying annual growth of N/A. Current consensus DPS estimate is 25.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.4. |
Forecast for FY18:
Current consensus EPS estimate is 32.0, implying annual growth of 3.9%. Current consensus DPS estimate is 26.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 16.8. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ACX as Neutral (3) -
Aconex' result was in line with January's big guidance downgrade. The broker has slashed FY18-19 earnings forecasts and believes consensus downgrades have only partially captured reduced guidance.
On this basis the broker retains Neutral and a $3.40 target, balanced by the fact it believes Aconex to be a quality business.
Target price is $3.40 Current Price is $3.31 Difference: $0.09
If ACX meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $3.97, 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 0.00 cents and EPS of 3.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 3.6, implying annual growth of 9.4%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 92.8. |
Forecast for FY18:
UBS forecasts a full year FY18 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 6.0, implying annual growth of 66.7%. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 55.7. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates AHY as Neutral (3) -
The company's performance came out negative (in line with previous guidance) with Citi analysts highlighting significant cost savings had been necessary to avoid this becoming a truly disastrous year.
As far as the future goes, this company has a significant step-up in capex in front of it to help sustain profit growth, comment the analysts. They remain confident in further cost savings as well as a small pick up in sales.
Estimates have been increased by some 4%. Target remains untouched at $1.50, as does the Neutral rating.
Target price is $1.50 Current Price is $1.55 Difference: minus $0.045 (current price is over target).
If AHY meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.65, suggesting downside of -2.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 10.00 cents and EPS of 11.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 10.00 cents and EPS of 11.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.4, implying annual growth of 3.3%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 13.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AHY as Upgrade to Outperform from Neutral (1) -
2016 results were ahead of forecasts. Credit Suisse notes some of the growth was in channels that are not readily observed such as 14% growth in the Pacific islands and high single digit growth in Australian industry tissue.
Credit Suisse upgrades 2017 estimates by 10%. Rating is upgraded to Outperform from Neutral. Target is raised to $1.75 from $1.50.
Target price is $1.75 Current Price is $1.55 Difference: $0.205
If AHY meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $1.65, suggesting downside of -2.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 10.00 cents and EPS of 12.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.00 cents and EPS of 12.57 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.4, implying annual growth of 3.3%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 13.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AHY as Outperform (1) -
Asaleo Care's 2016 results were as expected by the broker. Expectation is for a low single digit earnings growth.
Capital optimisation and strong cash generation is expected to result in free cash flow of around $85m to $90m and drop gearing below 2% by the end of FY17. Macquarie has cut earnings forecasts for FY17 and FY18 by -2%.
Outperform retained and target rises to $1.70 from $1.60.
Target price is $1.70 Current Price is $1.55 Difference: $0.155
If AHY meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $1.65, suggesting downside of -2.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 10.50 cents and EPS of 12.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 10.2, implying a prospective dividend yield of 6.0%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 11.00 cents and EPS of 12.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.4, implying annual growth of 3.3%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 6.1%. Current consensus EPS estimate suggests the PER is 13.7. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates AIZ as Neutral (3) -
First half results were ahead of forecasts. Productivity gains were encouraging and Credit Suisse raises pre-tax profit forecasts for FY17 and FY18 by 2.0% and 7.5% respectively.
Price target rises to NZ$2.10 from NZ$2.05. Neutral retained.
Current Price is $2.13. Target price not assessed.
Current consensus price target is N/A
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 18.79 cents and EPS of 27.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 11.6%. Current consensus EPS estimate suggests the PER is 7.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 16.91 cents and EPS of 22.92 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of -7.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 8.6%. Current consensus EPS estimate suggests the PER is 8.3. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates AIZ as Hold (3) -
Air NZ's result featured very impressive cost controls, the broker suggests, in the face of the new competition's impact on revenues. The broker sees longer term potential as solid if investors are prepared to hold through the FY17-18 down-cycle.
Near term will come down to just how hard competitors are prepared to fight, the broker suggests. Some easing of pressure is needed to combat rising fuel costs and roll-off of fuel hedges. Hold retained. Target rises to NZ$2.29 from NZ$2.09.
Current Price is $2.13. Target price not assessed.
Current consensus price target is N/A
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 18.79 cents and EPS of 25.36 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 11.6%. Current consensus EPS estimate suggests the PER is 7.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 18.79 cents and EPS of 25.36 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of -7.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 8.6%. Current consensus EPS estimate suggests the PER is 8.3. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates AIZ as Neutral (3) -
Air New Zealand's first half results were ahead of the broker's expectations. Guidance tightened to NZ$475m to NZ$525m, including the one off gain from the Virgin ((VAH)) divestment.
Macquarie is currently forecasting a -15% decline in earnings in FY18, and will be looking for delivery of improved RASK before turning more positive again.
Neutral retained and target raised to NZ$2.22 from NZ$2.18.
Current Price is $2.13. Target price not assessed.
Current consensus price target is N/A
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 18.79 cents and EPS of 29.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 11.6%. Current consensus EPS estimate suggests the PER is 7.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 18.79 cents and EPS of 25.65 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of -7.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 8.6%. Current consensus EPS estimate suggests the PER is 8.3. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates AIZ as Neutral (3) -
Air NZ's result suggests the airline has done a better job at limiting the earnings impact of competition than the broker had forecast, with lower operating costs assisting.
However, while competitive pressure is expected to moderate in the second half, FY guidance suggests even greater earnings pressure from rising fuel prices.
The broker has cut forecasts but believes the dividend to be sustainable. On a fair valuation, Neutral retained. Target rises to NZ$2.25 from NZ$2.20.
Current Price is $2.13. Target price not assessed.
Current consensus price target is N/A
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 42.27 cents and EPS of 28.46 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.7, implying annual growth of N/A. Current consensus DPS estimate is 24.6, implying a prospective dividend yield of 11.6%. Current consensus EPS estimate suggests the PER is 7.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 18.79 cents and EPS of 28.28 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.5, implying annual growth of -7.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 8.6%. Current consensus EPS estimate suggests the PER is 8.3. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates APN as Upgrade to Buy from Neutral (1) -
APN's result beat UBS, with a weaker performance from radio offset by a strong performance from Adshel. The dividend was reinstated for the first time since 2012.
UBS expects Adshel to be the main earnings driver in the second half. Factoring in higher contributions from Adshel, and a better net debt balance, the broker's valuation now suggests an upgrade to Buy, despite tax and re-contracting risk. Target rises to $3.30 from $3.00.
Target price is $3.30 Current Price is $2.63 Difference: $0.67
If APN meets the UBS target it will return approximately 25% (excluding dividends, fees and charges).
Current consensus price target is $3.37, suggesting upside of 27.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 10.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 24.2, 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:
UBS forecasts a full year FY18 dividend of 10.00 cents and EPS of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.2, implying annual growth of -4.1%. Current consensus DPS estimate is 10.8, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 11.4. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates AWC as Sell (5) -
Citi analysts spotted a lower-than-expected financial result, but they still raised forecasts because of higher estimates for future alumina and aluminium prices.
Irrespective, they remain much in favour of copper exposure and believe Alumina Ltd's share price looks bloated. Target moves to $1.70 from $1.50. Sell.
Target price is $1.70 Current Price is $1.95 Difference: minus $0.245 (current price is over target).
If AWC meets the Citi target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
Forecast for FY17:
Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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
Credit Suisse rates AWC as Underperform (5) -
2016 results were weaker than expected, affected by restructuring charges. Credit Suisse updates production expectations in line with 2017 guidance.
The net impact is the proportional EBITDA estimate for 2017 is reduced -20% and the dividend estimate reduced to US7.8c, from US12c. 2018 underlying earnings estimates are reduced -13% and the dividend to 7.1c.
Underperform retained. Target is $1.70.
Target price is $1.70 Current Price is $1.95 Difference: minus $0.245 (current price is over target).
If AWC meets the Credit Suisse target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 10.43 cents and EPS of 12.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 9.47 cents and EPS of 8.51 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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 AWC as Sell (5) -
Alumina Ltd's result missed the broker although the dividend exceeded. The outlook for 2017 includes higher AWAC restructuring charges.
The broker has cut forecasts and is cautious on alumina prices due to Chinese refinery restarts. Management is assuming flat pricing. Sell retained. Target falls to $1.65 from $1.70.
Target price is $1.65 Current Price is $1.95 Difference: minus $0.295 (current price is over target).
If AWC meets the Deutsche Bank target it will return approximately minus 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 7.99 cents and EPS of minus 1.33 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 6.66 cents and EPS of 6.66 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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
Macquarie rates AWC as Outperform (1) -
Alumina Ltd's 2016 results were well below the broker's expectations. The loss was mainly due to higher restructuring costs, an impairment at Portland and derivative contract movements.
The company has maintained flat production guidance for FY17. Macquarie has made minor changes to forecasts, reducing FY17 by -5% and raising FY18 and FY19 by 7% and 8% respectively.
Outperform retained and target drops to $2.20 from $2.30.
Target price is $2.20 Current Price is $1.95 Difference: $0.255
If AWC meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 21.30 cents and EPS of 20.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 12.52 cents and EPS of 12.25 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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
Ord Minnett rates AWC as Accumulate (2) -
2016 net profit and operating earnings missed forecasts because of higher corporate costs. Ord Minnett, despite marginally downgrading forecasts for earnings per share and acknowledging the stock is near the net present value measure, maintains an Accumulate rating.
The broker expects alumina prices will be buoyant, with the backdrop of proposed Chinese capacity cuts later this year. Price target is $2.20.
Target price is $2.20 Current Price is $1.95 Difference: $0.255
If AWC meets the Ord Minnett target it will return approximately 13% (excluding dividends, fees and charges).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 15.98 cents and EPS of 15.98 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 14.65 cents and EPS of 13.31 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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
UBS rates AWC as Sell (5) -
Alumina Ltd's earnings result beat the broker but missed consensus. The release of 2017 guidance has only led to small forecast changes.
Management forecasts 4% growth in aluminium demand and a balanced alumina market supported by rising costs. The broker sees alumina price risk as persisting. Sell and $1.60 target retained.
Target price is $1.60 Current Price is $1.95 Difference: minus $0.345 (current price is over target).
If AWC meets the UBS target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.83, suggesting downside of -2.0% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 9.32 cents and EPS of 10.65 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of N/A. Current consensus DPS estimate is 13.9, implying a prospective dividend yield of 7.5%. Current consensus EPS estimate suggests the PER is 18.3. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 11.98 cents and EPS of 11.98 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.3, implying annual growth of 1.0%. Current consensus DPS estimate is 12.1, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 18.1. |
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
Morgans rates BLX as Add (1) -
First half results were a little better than expected. Trading conditions have improved and the company has noted December was particularly encouraging.
Morgans notes the company will now cycle soft like-for-like sales growth over the rest of 2017 and the rate of store growth has increased. This augurs for a brighter year and the broker retains an Add rating. Target is raised to $1.92 from $1.86.
Target price is $1.92 Current Price is $1.72 Difference: $0.205
If BLX 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 4.80 cents and EPS of 9.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 5.60 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
Macquarie rates BRG as Outperform (1) -
Breville's first half results were broadly in line with the broker's estimates. Guidance is for EBIT growth rate in the second half to be generally consistent with first half run rates.
Macquarie believes that if the new strategic initiatives are successful, growth rates are set to accelerate. FY17 EPS forecast has been raised by 2% and FY18 by 4%.
Outperform retained and target increased to $9.50 from $9.00.
Target price is $9.50 Current Price is $8.81 Difference: $0.69
If BRG meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $9.20, suggesting upside of 3.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 31.00 cents and EPS of 41.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.7, implying annual growth of 8.0%. Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 21.4. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 34.00 cents and EPS of 46.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.3, implying annual growth of 8.6%. Current consensus DPS estimate is 33.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates BRG as Neutral (3) -
Breville posted a strong result, the broker suggests, with North America solid but A&NZ the standout. The company's new operating model passed the test, given inventories fell while sales grew.
The surprise in the result for the broker is that the A&NZ market is not as mature as assumed. New fangled coffee machines are proving a big growth driver. Scandinavia is next planned for conquest. Neutral retained on valuation, target rises to $9.30 from $8.20.
Target price is $9.30 Current Price is $8.81 Difference: $0.49
If BRG meets the UBS target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $9.20, suggesting upside of 3.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 29.50 cents and EPS of 42.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.7, implying annual growth of 8.0%. Current consensus DPS estimate is 30.4, implying a prospective dividend yield of 3.4%. Current consensus EPS estimate suggests the PER is 21.4. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 33.00 cents and EPS of 45.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 45.3, implying annual growth of 8.6%. Current consensus DPS estimate is 33.5, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 19.7. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CCL as Neutral (3) -
Coca-Cola Amatil's 2016 results were slightly better than Macquarie had expected. The lack of volume growth concerns the broker, and it views the announcement of further restructuring in manufacturing as an unfortunate necessity for the company.
Macquarie is forecasting flat EBIT through 2018, and has cut 2017 EPS forecast by -1% and raised 2018 EPS forecast by 0.2%.
The broker retains a Neutral rating and target rises to $9.87 from $9.37.
Target price is $9.87 Current Price is $10.59 Difference: minus $0.72 (current price is over target).
If CCL meets the Macquarie target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $9.94, suggesting downside of -6.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 44.50 cents and EPS of 55.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 56.6, implying annual growth of N/A. Current consensus DPS estimate is 48.5, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 18.8. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 46.00 cents and EPS of 56.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 59.4, implying annual growth of 4.9%. Current consensus DPS estimate is 50.0, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 17.9. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CGC as Buy (1) -
Costa delivered both an earnings beat an a guidance upgrade, driven by increased volumes in berries following last year's weather issues, and increased pricing for tomatoes.
The outlook is robust, the broker suggests, with China moving towards break-even, expansions on track, and an expansion into mushrooms planned alongside planned efficiencies.
The broker believes Costa will continue to outperform. Buy retained, target rises to $3.90 from $3.50.
Target price is $3.90 Current Price is $3.59 Difference: $0.31
If CGC meets the UBS target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 12.00 cents and EPS of 18.30 cents. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 13.00 cents and EPS of 20.60 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CVW as Outperform (1) -
First half results were broadly in line with the broker's estimates. Management has stated that the company remains on track to achieve near to medium term strategic goals.
Sony Life acquired 14.9% of Clearview in the first half.
Macquarie has cut FY17 earnings forecast by -3.9% and FY18 forecasts by -2%. Outperform maintained and target raised to $1.45 from $1.36.
Target price is $1.45 Current Price is $1.33 Difference: $0.12
If CVW meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 2.70 cents and EPS of 5.30 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 3.10 cents and EPS of 6.20 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates CWN as Buy (1) -
Better than expected Perth margins, a beat from Aspinall’s and lower than forecast corporate costs all helped Crown delivering a better-than-expected financial performance, comment Citi analysts.
Target price increased to $13.65 from $13.15 on a hotchpotch in various adjustments to forecasts. Buy rating retained. The company is looking for a new CEO, in the meantime Executive Chairman John Alexander will perform the role.
Target price is $13.65 Current Price is $12.29 Difference: $1.36
If CWN meets the Citi target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $13.11, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 143.00 cents and EPS of 52.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.3, implying annual growth of -45.3%. Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 9.2%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 60.00 cents and EPS of 60.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of -19.1%. Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates CWN as Downgrade to Neutral from Outperform (3) -
First half results were in line. Credit Suisse expects Crown to fully exit the MPEL and Las Vegas joint ventures and return further capital to shareholders. Once paid out the broker suggests the stock should return to an appropriate trading multiple of 9 times FY19 EBITDA, or $10.50.
The broker upgrades FY17 EBITDA 6-9% to incorporate the company's signals on cost reductions and the target is raised to $13.00 from $12.50. Rating is downgraded to Neutral from Outperform, given the rally in the share price.
Target price is $13.00 Current Price is $12.29 Difference: $0.71
If CWN meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $13.11, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 143.00 cents and EPS of 52.99 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.3, implying annual growth of -45.3%. Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 9.2%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 130.00 cents and EPS of 54.97 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of -19.1%. Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates CWN as Buy (1) -
Crown posted a miss but this was offset by announced capital management initiatives, the broker notes. The dividend will now be fixed at 60cps and a special dividend and share buyback were announced. On the negative side, the planned REIT IPO will not proceed.
The broker has cut forecasts on the earnings miss but retains Buy on valuation. Target falls to $14.55 from $14.57.
Target price is $14.55 Current Price is $12.29 Difference: $2.26
If CWN meets the Deutsche Bank target it will return approximately 18% (excluding dividends, fees and charges).
Current consensus price target is $13.11, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 143.00 cents and EPS of 51.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.3, implying annual growth of -45.3%. Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 9.2%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 60.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of -19.1%. Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CWN as Hold (3) -
First half results were below forecasts. Ord Minnett notes the strategy focus has returned to domestic growth and property investment remains the driver for a recovery in VIP.
The broker upgrades FY17 and FY18 EBITDA forecasts by 0.2% and 6.9% respectively. Hold rating retained. Target rises to $13.00 from $12.15.
Target price is $13.00 Current Price is $12.29 Difference: $0.71
If CWN meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $13.11, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 143.00 cents and EPS of 178.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.3, implying annual growth of -45.3%. Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 9.2%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 60.00 cents and EPS of 67.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of -19.1%. Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CWN as Buy (1) -
Crown's result was in line with guidance recently downgraded to account for the whole China arrest debacle. VIP turnover was well down as expected, but the broker assumes this will prove one-off. Aside from the scrapping of a hotel REIT IPO, the report was all about capital management.
Crown announced both a special dividend and a buyback, and dividends will now be fixed at 60cps rather than a 100% payout. The CEO has stepped down. A significant reduction in corporate costs leads to forecast earnings increases.
Buy retained, target rises to $13.15 from $11.41.
Target price is $13.15 Current Price is $12.29 Difference: $0.86
If CWN meets the UBS target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $13.11, suggesting upside of 7.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 143.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 71.3, implying annual growth of -45.3%. Current consensus DPS estimate is 112.6, implying a prospective dividend yield of 9.2%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 60.00 cents and EPS of 60.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.7, implying annual growth of -19.1%. Current consensus DPS estimate is 68.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 21.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates CWY as Downgrade to Neutral from Outperform (3) -
Cleanaway's first half results were in line with the broker's expectations. FY17 guidance is for little change in economic conditions but for both divisions to grow earnings.
Collections are expected to increase earnings as recent cost, volume and pricing initiatives take effect. Industrials are also expected to increase earnings, largely due to cost out.
Macquarie has cut FY17 EPS forecast by -3.5% and FY18 EPS forecast by -3.7%. The broker downgrades the stock to Neutral from Outperform and $1.14 target retained.
Target price is $1.14 Current Price is $1.13 Difference: $0.01
If CWY meets the Macquarie target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $1.14, suggesting downside of -2.1% (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 4.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.4, implying annual growth of 57.1%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 2.50 cents and EPS of 4.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.6, implying annual growth of 27.3%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 20.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates CWY as Upgrade to Add from Hold (1) -
First half EBITDA beat forecasts. Morgans notes the turnaround continues, with growth in revenue combined with cost control.
The broker expects bolt-on acquisitions to be an ongoing theme for the company.
Target lifts to $1.22 from $1.19 and the rating is upgraded to Add from Hold, given the total potential return of 10%.
Target price is $1.22 Current Price is $1.13 Difference: $0.09
If CWY meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $1.14, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 2.40 cents and EPS of 4.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.4, implying annual growth of 57.1%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 3.10 cents and EPS of 6.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.6, implying annual growth of 27.3%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 20.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates CWY as Accumulate (2) -
First half operating earnings were ahead of forecasts. Guidance is maintained for FY17 growth in all divisions.
Ord Minnett notes the company remains on track to deliver on its cost reduction targets. The company has lost share in the solids collections business and the broker suspects this is an area management will focus on as the cost-saving program matures.
Accumulate retained. Target is raised to $1.18 from $1.16.
Target price is $1.18 Current Price is $1.13 Difference: $0.05
If CWY meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $1.14, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 2.00 cents and EPS of 5.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.4, implying annual growth of 57.1%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 3.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.6, implying annual growth of 27.3%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 20.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates CWY as Downgrade to Neutral from Buy (3) -
An in-line result from Cleanaway implies a significant improvement in core operations, UBS suggests. Unchanged FY guidance also meets expectation.
Management is now free to pursue operational improvements and cost-outs, the broker suggests, and a modestly better looking macro-economic backdrop may signal the start of a multi-year upgrade cycle. But given the stock is trading in line with international peers, UBS sees limited share price upside.
Downgrade to Neutral. Target rises to $1.16 from $1.15.
Target price is $1.16 Current Price is $1.13 Difference: $0.03
If CWY meets the UBS target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $1.14, suggesting downside of -2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 2.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 4.4, implying annual growth of 57.1%. Current consensus DPS estimate is 2.1, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 26.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 3.00 cents and EPS of 6.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 5.6, implying annual growth of 27.3%. Current consensus DPS estimate is 2.7, implying a prospective dividend yield of 2.3%. Current consensus EPS estimate suggests the PER is 20.8. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates DTL as Add (1) -
First half results were in line with expectations. Morgans observes the evolution towards cloud and services is going smoothly, with revenue in cloud up 44.3% and services profits up 15.4%.
Morgans retains an Add rating and raises the target to $1.89 from $1.60. The broker rates the stock as an attractive growth story.
Target price is $1.89 Current Price is $1.70 Difference: $0.19
If DTL meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 9.00 cents and EPS of 11.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 11.00 cents and EPS of 12.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates EHE as Neutral (3) -
First half results were in line with the broker's forecasts. An increase in occupancy assumptions was partially offset by a reduction of revenue per resident/day.
Macquarie has raised FY17 earnings forecast by 1% and FY18 forecast by 3%.
Neutral rating retained and target price rises to $3.25 from $2.85 as a result of a reduction in discount rate and earnings revisions.
Target price is $3.25 Current Price is $3.25 Difference: $0
If EHE meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $2.95, suggesting downside of -5.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.20 cents and EPS of 17.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.9, implying annual growth of 45.0%. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 12.60 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of -17.8%. Current consensus DPS estimate is 12.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates EHE as Underweight (5) -
First half results were in line with Morgan Stanley, with improvement in occupancy noted. Yet, headwinds are perceived to be just starting to emerge and the broker envisages no opportunity for costs as a percentage of sales to improve.
With little growth in the outlook an Underweight rating is retained. Target is raised to $2.30 from $2.10. In-Line industry view.
Target price is $2.30 Current Price is $3.25 Difference: minus $0.95 (current price is over target).
If EHE meets the Morgan Stanley target it will return approximately minus 29% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.95, suggesting downside of -5.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 6.40 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.9, implying annual growth of 45.0%. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.2. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 11.40 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 18.0, implying annual growth of -17.8%. Current consensus DPS estimate is 12.7, implying a prospective dividend yield of 4.1%. Current consensus EPS estimate suggests the PER is 17.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ENN as Buy (1) -
First half results were ahead of the broker's expectations. Funds under management were $646m, growing considerably on the pcp following the establishment of two new funds.
Ord Minnetts FY17 forecast of $730 FUM allows for just $100m of inflow in the second half, which is wholly achievable in the broker's view.
Buy rating retained and target rises to $2.44 from $2.38.
Target price is $2.44 Current Price is $2.06 Difference: $0.38
If ENN meets the Ord Minnett target it will return approximately 18% (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 15.10 cents and EPS of 32.20 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 15.90 cents and EPS of 12.50 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates EPW as Downgrade to Sell from Neutral (5) -
US margins disappointed and this means the financial result overall missed expectations, even before adjusting for the -$2.9m loss moved into discontinued operations, comment the analysts.
Citi analysts acknowledge the operational leverage to any future improvements is huge, but they've nevertheless decided to downgrade to Sell from Neutral. Target price dives by -20% to $1.05.
Earnings estimates have received a double-digit haircut for the years ahead. Citi doesn't think the market is accurately pricing in this prospect.
Target price is $1.05 Current Price is $1.17 Difference: minus $0.12 (current price is over target).
If EPW meets the Citi target it will return approximately minus 10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.06, suggesting downside of -4.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 7.00 cents and EPS of minus 13.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.1, implying annual growth of N/A. Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 7.7%. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 7.00 cents and EPS of 0.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.0, implying annual growth of N/A. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 55.5. |
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates EPW as Underperform (5) -
ERM Power's loss was much greater than Macquarie had forecast. The difference largely reflects timing of the LGC profit, which should reverse in the second half.
Management guidance is unchanged, except for the US business, with the residential component being put up for sale. Macquarie has cut FY17 earnings forecast by -8.6% and FY18 forecast by -0.7%. FY19 forecast increases by 6.4%.
Macquarie retains Underperform and $1.15 target.
Target price is $1.15 Current Price is $1.17 Difference: minus $0.02 (current price is over target).
If EPW meets the Macquarie target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.06, suggesting downside of -4.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 7.00 cents and EPS of minus 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -5.1, implying annual growth of N/A. Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 7.7%. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 6.00 cents and EPS of minus 1.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.0, implying annual growth of N/A. Current consensus DPS estimate is 7.0, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 55.5. |
Market Sentiment: -1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FLN as Buy (1) -
As expected, Freelancer's result featured a slowdown in gross payment volume, the broker notes, given changes implemented to improve the ease of posting jobs. This meant that while posting growth was strong, conversion was weak.
The broker is confident the changes made will materially increase GPV in the second half. Planned new products also have the potential to be game-changers. Buy and $1.50 target retained.
Target price is $1.50 Current Price is $0.84 Difference: $0.665
If FLN meets the UBS target it will return approximately 80% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 0.00 cents and EPS of 1.00 cents. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 0.00 cents and EPS of 2.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates FLT as Neutral (3) -
Citi analysts, who've obviously been keeping track, report yesterday's interim financials marked Flight Centre's fifth downgrade in three years. Estimates have been further lowered in response.
Despite the fact this latest downgrade could possibly mark the bottom of this cycle, Citi analysts remain cautious given stabilisation of airfare prices is yet to occur. Earnings risk thus remains to the downside, say the analysts.
Target price declines by -3% to $30.90. Neutral.
Target price is $30.90 Current Price is $29.84 Difference: $1.06
If FLT meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 123.00 cents and EPS of 207.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 130.30 cents and EPS of 217.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates FLT as Upgrade to Outperform from Neutral (1) -
Credit Suisse attributes most of the deterioration in first half profit to cyclically low air fare prices and finds enough justification to move to an Outperform rating from Neutral.
While a slow structural decline in share is expected to continue the broker believes the company is likely to witness a positive impact on revenue and profit from a cyclical recovery in air fares in FY18. Target is reduced to $34.90 from $36.49.
Target price is $34.90 Current Price is $29.84 Difference: $5.06
If FLT meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 133.00 cents and EPS of 213.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 153.00 cents and EPS of 249.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates FLT as Hold (3) -
Flight Centre's result beat the broker and healthy volume growth indicates the company continues to grow market share. But for the broker, the issue is one of rising costs and too many consultants.
Solid cash flow and a strong balance sheet makes the stock look cheap, but the broker is not convinced earnings have bottomed. Hold retained. Target falls to $31 from $33.
Target price is $31.00 Current Price is $29.84 Difference: $1.16
If FLT meets the Deutsche Bank target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 134.00 cents and EPS of 216.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 138.00 cents and EPS of 221.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates FLT as Underperform (5) -
Flight Centre's first half results were in line with the broker's expectations. FY17 guidance has been downgraded to $320m to $330m underlying profit.
The company is still targeting $1bn from its online transactions, but Macquarie believes the company will struggle to grow its online market share as it is a late entrant into the online space and faces stiff competition from incumbents.
FY17 earnings forecast has been cut by -6.5% and FY18 forecast by -5.3%. Underperform rating retained and target falls to $24.72 from $27.20.
Target price is $24.72 Current Price is $29.84 Difference: minus $5.12 (current price is over target).
If FLT meets the Macquarie target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 125.00 cents and EPS of 209.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 137.20 cents and EPS of 211.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates FLT as Underweight (5) -
First half results were stronger than expected and Morgan Stanley increases pre-tax FY17 profit forecasts to $317m versus guidance of $300-330m.
Guidance is now more conservative but the multiple profit warnings do not provide Morgan Stanley with confidence on the earnings outlook. Whilst the risk to FY17 earnings is reduced the broker does not believe the stock factors in the long-dated pressures on the business.
Underweight retained. Target is $25. Industry view is In-Line.
Target price is $25.00 Current Price is $29.84 Difference: minus $4.84 (current price is over target).
If FLT meets the Morgan Stanley target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $30.64, suggesting upside of 2.6% (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 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
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 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates FLT as Hold (3) -
First half results were in line with guidance but underwhelmed Morgans. FY17 guidance is lowered by -6-7%. The main question for the broker is whether the company can grow earnings in FY18.
If it cannot, investor concerns around structural threats may, the broker suspects, outweigh cyclical factors. Hold rating retained. Target is lowered to $31.40 from $32.60.
Target price is $31.40 Current Price is $29.84 Difference: $1.56
If FLT meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 127.00 cents and EPS of 212.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 134.00 cents and EPS of 224.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates FLT as Hold (3) -
Flight Centre's first half results were as expected by the broker, but came with a further downgrade to FY17 guidance, with the company now expecting a -6-15% fall in earnings over the pcp. Management flagged issues with lower air yields and FX as drivers of the weak result.
Ord Minnett has moved to the bottom of the new guidance, implying a -7.6% decline in profit before tax over the pcp. While new and maturing businesses will help provide growth, declines in revenue margin and investment in opex will likely see the core business in Australia continue to decline.
The broker reduces the target to $31.06 from $33.58 and retains a Hold rating.
Target price is $31.06 Current Price is $29.84 Difference: $1.22
If FLT meets the Ord Minnett target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 134.90 cents and EPS of 210.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 138.30 cents and EPS of 214.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates FLT as Buy (1) -
Flight Centre's result was in line with consensus and guidance but FY guidance was cut on the assumption airfare deflation and cost pressures will continue through the second half. The broker has cut forecasts, but does see some stablisation beyond FY17.
The company's problem is not one of demand, that's increasing, but one of pricing and cost issues, the broker suggests. The broker sees the downgrades as largely cyclical and believes pessimism is priced in. Buy retained. Target falls to $36.10 from $37.30.
Target price is $36.10 Current Price is $29.84 Difference: $6.26
If FLT meets the UBS target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $30.64, suggesting upside of 2.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 130.00 cents and EPS of 213.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 212.0, implying annual growth of -12.5%. Current consensus DPS estimate is 129.9, implying a prospective dividend yield of 4.4%. Current consensus EPS estimate suggests the PER is 14.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 143.00 cents and EPS of 236.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 221.7, implying annual growth of 4.6%. Current consensus DPS estimate is 136.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates HPI as Add (1) -
First half results were in line with expectations. Morgans notes future catalysts include accretive acquisitions, asset re-ratings and potential inclusion in the index.
Add rating retained. Target slips to $3.01 from $3.35.
Target price is $3.01 Current Price is $2.78 Difference: $0.23
If HPI meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 20.30 cents and EPS of 20.30 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 21.10 cents and EPS of 21.10 cents. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates HPI as Hold (3) -
First half distributable profit was in line with forecasts. FY17 distribution guidance of 32.1c is reiterated, assuming no deployment of excess capital.
Ord Minnett believes the company is now carrying its assets close to market value while previously it had the most conservative book values in the sector.
Hold retained. Target is $3.00.
Target price is $3.00 Current Price is $2.78 Difference: $0.22
If HPI meets the Ord Minnett target it will return approximately 8% (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 32.00 cents and EPS of 20.00 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 19.00 cents and EPS of 20.00 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 HUO as Outperform (1) -
First half results were better than expected. Credit Suisse materially upgrades FY17 estimates after guidance was lifted to operating EBITA of $55-60m from $41m previously.
Industry pricing trends and operating conditions remain supportive. Credit Suisse retains an Outperform rating and raises the target to $5.80 from $3.75.
Target price is $5.80 Current Price is $4.93 Difference: $0.87
If HUO meets the Credit Suisse target it will return approximately 18% (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 1.50 cents and EPS of 25.46 cents. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 4.50 cents and EPS of 37.06 cents. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IDX as Buy (1) -
Integral's result largely matched guidance downgraded last year. The broker notes a suggested lifting of the govt's MBS freeze may prove positive but full regulatory implications are as yet unclear.
Integral trades at a discount of around -35% to listed peers, the broker notes. FY17 earnings have now been rebased and estimates appear more certain. Buy retained. Target falls to $1.75 from $1.85.
Target price is $1.75 Current Price is $1.17 Difference: $0.58
If IDX meets the UBS target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $1.56, suggesting upside of 27.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS 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 10.8, implying annual growth of 31.7%. Current consensus DPS estimate is 7.7, implying a prospective dividend yield of 6.3%. Current consensus EPS estimate suggests the PER is 11.3. |
Forecast for FY18:
UBS 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 12.0, implying annual growth of 11.1%. Current consensus DPS estimate is 8.3, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 10.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates ILU as Buy (1) -
Citi analysts expect Iluka's markets to likely recover through 2017 and into 2018. Buy rating retained, as well as the $8.10 target price.
Target price is $8.10 Current Price is $6.98 Difference: $1.12
If ILU meets the Citi target it will return approximately 16% (excluding dividends, fees and charges).
Current consensus price target is $7.21, suggesting upside of 4.5% (ex-dividends)
Forecast for FY17:
Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates ILU as Neutral (3) -
2016 results were in line with pre-released guidance. Given the capital expenditure envisaged on Sierra Rutile and Cataby the company did not pay a full-year dividend and Credit Suisse does not assume dividends until 2019.
Credit Suisse retains a Neutral rating and $7.00 target.
Target price is $7.00 Current Price is $6.98 Difference: $0.02
If ILU meets the Credit Suisse target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $7.21, 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 0.00 cents and EPS of 17.49 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 0.00 cents and EPS of 29.93 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates ILU as Sell (5) -
Iluka had previously announced its loss so no surprises. Guidance is unchanged, no dividend was declared or growth projects announced, the broker notes, and management reaffirmed its view that zircon and rutile prices are recovering, slowly.
Iluka needs to spend over $500m to extend synthetic rutile production beyond 2018. The broker has already factored in "generous" zircon/rutile price rises and sees the stock as over-valued. Sell retained. Target rises to $5.20 from $5.10.
Target price is $5.20 Current Price is $6.98 Difference: minus $1.78 (current price is over target).
If ILU meets the Deutsche Bank target it will return approximately minus 26% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.21, suggesting upside of 4.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 13.00 cents and EPS of 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 4.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates ILU as Overweight (1) -
2016 results revealed cash flows which were significantly ahead of estimates.
Commentary around stability in zircon and buoyant titanium dioxide markets suggests to Morgan Stanley the business is well placed to benefit from better prices.
Overweight rating and Attractive industry view retained. Target is $8.05.
Target price is $8.05 Current Price is $6.98 Difference: $1.07
If ILU meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $7.21, suggesting upside of 4.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 4.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 0.00 cents and EPS of 38.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates ILU as Lighten (4) -
Ord Minnett observes the company remains bullish on the outlook for mineral sands pricing. The board has elected not to pay a final dividend, given the investment required for Sierra Rutile and Cataby.
The stock is screening relatively expensive versus peers, in the broker's opinion, and a Lighten rating is retained. Target is reduced to $6.40 from $6.60.
Target price is $6.40 Current Price is $6.98 Difference: minus $0.58 (current price is over target).
If ILU meets the Ord Minnett target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $7.21, suggesting upside of 4.5% (ex-dividends)
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 19.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 15.00 cents and EPS of 40.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ILU as Buy (1) -
Iluka's loss, including impairments, was in line with the broker. The company declared its February zircon price increase to be a success, noting competitors have also lifted prices due to higher costs. Rutile prices are also expected to rise, hence Iluka has less volume currently contracted.
No dividend was declared, in order to fund growth. The broker retains Buy and a $9.20 target.
Target price is $9.20 Current Price is $6.98 Difference: $2.22
If ILU meets the UBS target it will return approximately 32% (excluding dividends, fees and charges).
Current consensus price target is $7.21, 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 3.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.1, implying annual growth of N/A. Current consensus DPS estimate is 2.8, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 75.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 6.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 29.7, implying annual growth of 226.4%. Current consensus DPS estimate is 4.2, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates IOF as Neutral (3) -
Funds from operations (FFO) surprised to the upside with Citi analysts noting FY17 FFO guidance has now been lifted to 29.5c. Citi sees strong fundamentals and has increased estimates.
Target lifts to $4.51 from $4.35. The analysts believe corporate news flow remains the major driver behind the share price. Neutral rating retained.
Target price is $4.51 Current Price is $4.66 Difference: minus $0.15 (current price is over target).
If IOF meets the Citi target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.46, suggesting downside of -3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 20.20 cents and EPS of 29.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.9, implying annual growth of -66.5%. Current consensus DPS estimate is 20.1, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 20.60 cents and EPS of 30.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.8, implying annual growth of 3.3%. Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates IOF as Neutral (3) -
First half results were ahead of the broker's expectations. FFO guidance was revised upward to 29.5cps for FY17, driven by strong underlying conditions with like for like NPI growth expected to exceed 5% in the second half.
Leases already signed and filling of current vacancies bode well for the earnings outlook into FY18. Future large tenant expiries and loss of rent through building refurbishments, make it difficult for the company to grow earnings in FY19.
Macquarie has raised FY17 EPS estimates by 3.7% and FY18 estimates by 3.6%. Neutral retained and target raised to $4.68 from $4.43.
Target price is $4.68 Current Price is $4.66 Difference: $0.02
If IOF meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $4.46, suggesting downside of -3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 20.20 cents and EPS of 24.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.9, implying annual growth of -66.5%. Current consensus DPS estimate is 20.1, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 20.70 cents and EPS of 25.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.8, implying annual growth of 3.3%. Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IOF as Lighten (4) -
First half results were ahead of forecasts. Full year growth guidance for earnings per security is upgraded to 3.1%. Ord Minnett observes that, over and above the value-add opportunities in the three main re-positioning plays, the portfolio has largely stabilised.
Lighten rating maintained. Target rises to $4.30 from $4.27.
Target price is $4.30 Current Price is $4.66 Difference: minus $0.36 (current price is over target).
If IOF meets the Ord Minnett target it will return approximately minus 8% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.46, suggesting downside 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 20.00 cents and EPS of 25.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.9, implying annual growth of -66.5%. Current consensus DPS estimate is 20.1, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 21.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.8, implying annual growth of 3.3%. Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IOF as Sell (5) -
Investa reported a solid result, slightly ahead of the broker. The focus remains on corporate action, the broker suggests, given the presence of Cromwell Property ((CMW)) on the register.
Meanwhile the broker sees limited opportunity to squeeze any more value out of the portfolio. While office fundamentals remain positive, the broker is uncertain over the ability to achieve strong dividend growth. Sell retained. Target rises to $4.48 from $4.44.
Target price is $4.48 Current Price is $4.66 Difference: minus $0.18 (current price is over target).
If IOF 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 $4.46, suggesting downside of -3.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 20.20 cents and EPS of 29.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.9, implying annual growth of -66.5%. Current consensus DPS estimate is 20.1, implying a prospective dividend yield of 4.3%. Current consensus EPS estimate suggests the PER is 17.2. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 20.70 cents and EPS of 30.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 27.8, implying annual growth of 3.3%. Current consensus DPS estimate is 20.8, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 16.7. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates IRE as Outperform (1) -
First half profit was slightly below forecasts. Credit Suisse notes the company has distanced itself from any Brexit fall-out, confirming key UK businesses continue to perform well.
Credit Suisse believes the company is well placed to deliver strong multi-year growth. Outperform and $12.70 target retained.
Target price is $12.70 Current Price is $12.02 Difference: $0.68
If IRE meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $12.57, suggesting upside of 4.6% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 49.04 cents and EPS of 50.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 48.1, implying annual growth of N/A. Current consensus DPS estimate is 46.3, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 25.0. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 54.64 cents and EPS of 56.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 54.9, implying annual growth of 14.1%. Current consensus DPS estimate is 54.7, implying a prospective dividend yield of 4.6%. Current consensus EPS estimate suggests the PER is 21.9. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates ISD as Neutral (3) -
iSentia's result missed the broker by -17% and FY guidance was downgraded. Challenges presented across all aspects of the business, the broker notes.
While valuation is not now demanding, the broker wants to confirm momentum in the core business is not impacted by increased competition. Neutral retained. Target falls to $1.90 from $2.50.
Target price is $1.90 Current Price is $1.66 Difference: $0.24
If ISD meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $2.14, suggesting upside of 30.9% (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 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 14.1, implying annual growth of 16.2%. Current consensus DPS estimate is 6.5, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 11.6. |
Forecast for FY18:
UBS 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 15.7, implying annual growth of 11.3%. Current consensus DPS estimate is 7.9, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 10.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates IVC as Sell (5) -
Core EPS beat expectations. Citi analysts note despite volumes declining, sales were up 3.3%. Also, competition is clearly having an impact with the company losing market share in just about every market.
To fend off competitors, the company announced an incremental capex plan of $200m over four years. Citi analysts point out the benefits of this won't be visible in the medium term.
Citi thinks the shares are too expensive. Target price gains 20c to $11.50. Sell rating retained.
Target price is $11.50 Current Price is $14.15 Difference: minus $2.65 (current price is over target).
If IVC meets the Citi target it will return approximately minus 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 44.00 cents and EPS of 53.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 47.20 cents and EPS of 57.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates IVC as Sell (5) -
InvoCare's result slightly beat the broker and featured an announced new Protect & Grow optimisation strategy that will cost $200m over four years and start paying back after 6-7. While it seems like a sound strategy to the broker, it is not without its risks.
InvoCare is an attractive defensive but current valuation suggests limited upside in the absence of earnings surprises, the broker suggests. Sell and $11.70 target retained.
Target price is $11.70 Current Price is $14.15 Difference: minus $2.45 (current price is over target).
If IVC meets the Deutsche Bank target it will return approximately minus 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 45.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 47.00 cents and EPS of 55.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates IVC as Outperform (1) -
InvoCare's first half results were broadly in line with the broker's estimates. Lower revenues were offset by tighter control of costs which delivered a better than forecast margin improvement.
The company has announce a new initiative, entitled Protect and Grow, which is a $200m investment program through to 2020. It includes $160m on refresh and enhance activities and $40m on new sites.
Outperform rating retained and target rises to $14.85 from $14.35.
Target price is $14.85 Current Price is $14.15 Difference: $0.7
If IVC meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 45.60 cents and EPS of 53.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 50.40 cents and EPS of 59.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates IVC as Overweight (1) -
2016 results beat forecasts. The main takeaway for Morgan Stanley is the $200m in additional capital expenditure over the next four years to improve the network.
This is expected to usher in a return to sustainable double-digit growth in earnings per share. The broker notes the market supports the re-allocation of capital to domestic from international.
Overweight retained. Target is raised to $15.50 from $15.15. In-Line industry view.
Target price is $15.50 Current Price is $14.15 Difference: $1.35
If IVC meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 45.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 50.00 cents and EPS of 57.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates IVC as Lighten (4) -
2016 underlying net profit was slightly ahead of forecasts. Ord Minnett continues to like the business model and believes it can sustain higher levels of gearing.
Yet, given the increasing capital intensity and current valuation a Lighten rating is maintained. Target is raised to $12.88 from $12.00.
Target price is $12.88 Current Price is $14.15 Difference: minus $1.27 (current price is over target).
If IVC 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 $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 46.00 cents and EPS of 60.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 48.00 cents and EPS of 64.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates IVC as Neutral (3) -
Unfortunately fewer people obliged by dying in the first half, but InvoCare was able to deliver strong earnings growth on cost-outs. The result beat the broker by 5%.
Investment in the company's 2020 strategy will curb short term earnings growth, the broker notes, but should grow longer term revenues and thus earnings. Otherwise, the stock simply looks expensive. Neutral retained. Target rises to $14.45 from $13.55.
Target price is $14.45 Current Price is $14.15 Difference: $0.3
If IVC meets the UBS target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $13.39, suggesting downside of -2.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 45.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 53.9, implying annual growth of N/A. Current consensus DPS estimate is 44.4, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests the PER is 25.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 47.00 cents and EPS of 55.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 57.8, implying annual growth of 7.2%. Current consensus DPS estimate is 47.5, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 23.8. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates KSL as Add (1) -
2016 results were at the top of recent guidance. Morgans liked the result as most metrics are at the upper end of target ranges.
The broker suspects softer macro economic conditions in PNG have held the stock back, but a re-rating is expected over the medium term if management keeps delivering.
Morgans reduces the target to $1.39 from $1.49. Add rating retained.
Target price is $1.39 Current Price is $1.05 Difference: $0.34
If KSL meets the Morgans target it will return approximately 32% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 10.90 cents and EPS of 14.50 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 12.50 cents and EPS of 16.60 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates LOV as Outperform (1) -
First half results were broadly in line with the broker's expectations. No full year guidance was forthcoming, but outlook commentary is consistent with that provided at the trading update in December.
Seven stores are trading in the UK, with another eight to open in the second half, and although no specific detail was provided, Macquarie assumes the stores are performing in line with expectations.
FY17 and FY18 earnings forecasts have been upgraded by 5.5%. Outperform retained and target rises to $4.71 from $4.44.
Target price is $4.71 Current Price is $4.01 Difference: $0.7
If LOV meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.21, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 12.50 cents and EPS of 23.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 49.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 13.90 cents and EPS of 25.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.4, implying annual growth of 7.6%. Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates LOV as Downgrade to Hold from Add (3) -
First half results were ahead of forecasts and Morgans found little to fault. Management continues to expect gross margin trends will moderate in the second half as the exit of a competitor is cycled.
The half year was a strong period for execution and Morgans downgrades to Hold from Add. Target is raised to $4.37 from $4.30.
Target price is $4.37 Current Price is $4.01 Difference: $0.36
If LOV meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $4.21, suggesting upside of 7.7% (ex-dividends)
The company's fiscal year ends in July.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 13.00 cents and EPS of 24.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 23.6, implying annual growth of 49.4%. Current consensus DPS estimate is 11.8, implying a prospective dividend yield of 3.0%. Current consensus EPS estimate suggests the PER is 16.6. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 14.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.4, implying annual growth of 7.6%. Current consensus DPS estimate is 12.9, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.4. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MLB as Buy (1) -
The company's 2016 results were slightly below the broker's forecasts. FY17 earnings guidance was for $31m to $34m underlying EBITDA.
Ord Minnett notes earnings increased in the second half. The company sees Outware as representing an FY17 EBITDA multiple of 4.7x, implying $12.3m, which would appear to be materially higher than the FY16 contribution of around $7m in the broker's estimate.
Buy rating retained. Target rises to $2.59 from $2.54.
Target price is $2.59 Current Price is $2.17 Difference: $0.42
If MLB meets the Ord Minnett target it will return approximately 19% (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 11.00 cents and EPS of 16.40 cents. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 15.00 cents and EPS of 20.10 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 MMS as Outperform (1) -
First half results were in line with expectations. Credit Suisse believes the company has begun to alleviate concerns regarding the re-priced Queensland government contract.
Clarification is still necessary retarding the potential impact of the ASIC review on retail financial services.
Outperform rating retained. Target is raised to $12.50 from $12.15.
Target price is $12.50 Current Price is $11.97 Difference: $0.53
If MMS meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $12.41, suggesting upside of 2.1% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 64.50 cents and EPS of 103.00 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 65.3, implying a prospective dividend yield of 5.4%. Current consensus EPS estimate suggests the PER is 11.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 68.00 cents and EPS of 112.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 109.1, implying annual growth of 5.3%. 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 MOC as Outperform (1) -
The company's first half results were in line with the broker's forecasts. With both loan book growth and settlement growth moderating in recent periods, Macquarie's EPS growth expectations are fairly subdued at 1% for FY18 and 4% for FY18.
FY17 EPS has been upgraded by 3.4%. The broker notes the imminent publication of the ASIC report into broker remuneration, and views any adverse outcome for industry commissions as a potential earnings risk.
Outperform retained and target reduced to $2.55 from $2.59.
Target price is $2.55 Current Price is $2.47 Difference: $0.08
If MOC meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 17.50 cents and EPS of 18.20 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 18.50 cents and EPS of 18.40 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 MQA as Outperform (1) -
The company is acquiring the remainder of Dulles Greenway for US$445m. Credit Suisse considers the price attractive and expects the $185m equity placement will be well supported.
Target is $5.70. Outperform retained.
Target price is $5.70 Current Price is $5.10 Difference: $0.6
If MQA meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 20.00 cents and EPS of 23.81 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 23.50 cents and EPS of 26.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MQA as Hold (3) -
Mac Atlas' result was largely in line given tariff and toll revenue were already known. The key highlight is the exercising of the option to acquire all of Dulles, the broker suggests.The price paid was a lot more than the broker expected but this is offset by a flexible financing arrangement.
The broker lifts its target to $4.90 from $4.75, still shy of the traded price. Hold retained.
Target price is $4.90 Current Price is $5.10 Difference: minus $0.2 (current price is over target).
If MQA 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 $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 20.00 cents and EPS of 26.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 23.00 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MQA as No Rating (-1) -
The company's 2016 results were in line with the broker's estimates.
The company has announced its intention to exercise the pre-emptive right over the residual 50% in Greenway for US$445m
Due to research restrictions, Macquarie cannot advise its valuation at present.
Current Price is $5.10. Target price not assessed.
Current consensus price target is $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 20.00 cents and EPS of 57.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 23.70 cents and EPS of 70.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates MQA as Overweight (1) -
The company has decided to mop up Dulles Greenway at an acquisition cost of US$458m. Morgan Stanley considers the transaction fairly priced.
The broker suspects some investors may be surprised/disappointed if they were looking for a higher price and Macquarie Atlas vending its 50% stake in the process. An equity placement of $185m is planned ahead of executing the purchase agreement.
Overweight retained. Target is reduced to $5.66 from $5.79. Industry view: Cautious.
Target price is $5.66 Current Price is $5.10 Difference: $0.56
If MQA meets the Morgan Stanley target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 20.00 cents and EPS of 28.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 22.80 cents and EPS of 29.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates MQA as Add (1) -
2016 results were in line with forecasts. FY17 distribution guidance is unchanged at 20c per security.
Morgans notes the purchase price of the remainder of Dulles Greenway and the accompanying equity raising and debt issue are in line with the value ascribed to the asset.
Target falls to $5.84 from $6.26. Add retained.
Target price is $5.84 Current Price is $5.10 Difference: $0.74
If MQA meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MQA as Neutral (3) -
Mac Atlas' result fell slightly short of the broker but Dulles Greenway outperformed. The fund has, finally, acquired the remaining 50% of DG in a transaction that the broker sees as value neutral but that will secure Mac Atlas' future.
The broker expects average 17% growth in distributions to 2020 underpinned by material growth in free cash flow. Neutral retained. Target rises to $5.30 from $5.00.
Target price is $5.30 Current Price is $5.10 Difference: $0.2
If MQA meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $5.48, suggesting upside of 10.3% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 33.8, implying annual growth of N/A. Current consensus DPS estimate is 20.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 14.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 22.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 38.7, implying annual growth of 14.5%. Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 4.5%. Current consensus EPS estimate suggests the PER is 12.8. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates MYO as Buy (1) -
Financial performance proved in-line, with all divisions living up to expectations and Citi analysts point at the reported 94% "solid" cash conversion.
Including guidance and the Paycorp acquisition leads to minor upgrades to forecasts. Price target increases to $4.45 (from $4.30). Buy.
Target price is $4.45 Current Price is $3.69 Difference: $0.76
If MYO meets the Citi target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 13.10 cents and EPS of 18.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 14.50 cents and EPS of 20.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates MYO as Upgrade to Neutral from Underperform (3) -
2016 results were in line with expectations. The company has guided to double digit revenue growth in 2017. Paycorp, with which MYOB already collaborates, will be acquired for $48m.
Credit Suisse rolls forward valuation and upgrades to Neutral from Underperform. Target is raised to $3.50 from $3.20. The broker continues to envisage downside risk to the company's market position from intense competition in the SME accounting software space.
Target price is $3.50 Current Price is $3.69 Difference: minus $0.19 (current price is over target).
If MYO 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 $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 12.00 cents and EPS of 17.09 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 13.00 cents and EPS of 18.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates MYO as Buy (1) -
MYOB's solid result beat consensus but fell a little short of the broker. Continued growth in SME Solutions was the major driver. Margins remained steady despite dilution from acquisitions.
The broker's forecasts are largely unchanged other than to account for the Paycorp acquisition. Buy and $4.40 target retained.
Target price is $4.40 Current Price is $3.69 Difference: $0.71
If MYO meets the Deutsche Bank target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 12.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 13.00 cents and EPS of 21.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates MYO as Neutral (3) -
MYOB's 2016 results were broadly in line with the broker's expectations. The company expects revenue growth to be double digit, earnings margins to remain between 45% and 50% and R&D expenses to be at the upper end of the 13-16% revenue range.
Macquarie's 2017 earnings forecast has been increased by 1.4% and 2018 forecast by 3.4% to reflect higher operational earnings and the inclusion of the Paycorp acquisition.
Neutral retained and target rises to $3.90 from $3.80.
Target price is $3.90 Current Price is $3.69 Difference: $0.21
If MYO meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 12.60 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 13.70 cents and EPS of 19.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates MYO as Buy (1) -
MYOB's 2016 results were as expected by the broker. Underlying revenue growth of 9.1% was driven by a solid 11.3% growth in SME.
Management expects growth to be close to 10% in 2017, despite the higher base. Ord Minnett believes the company's share of new business is growing again, implying its product suite is now competitive and the company should retain its dominant position in the industry.
A Buy rating and $4.30 target are retained.
Target price is $4.30 Current Price is $3.69 Difference: $0.61
If MYO meets the Ord Minnett target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 12.80 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 14.60 cents and EPS of 15.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates MYO as Neutral (3) -
MYOB's result was in line, with the benefit of acquisitions, but better average revenues due to price increases offset slower new SME additions, the broker notes. FY guidance is "opaque", the broker suggests.
Organic revenue growth of 9% in FY16 is line with historical average and a good guide for FY17, the broker suggests, but add in the Greentree acquisition and this should rise to 11%. The broker considers the stock to be fairly valued, taking into account competition risk.
Neutral retained, target rises to $3.70 from $3.60.
Target price is $3.70 Current Price is $3.69 Difference: $0.01
If MYO meets the UBS target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $4.04, suggesting upside of 17.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 13.00 cents and EPS of 18.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 16.9, implying annual growth of N/A. Current consensus DPS estimate is 12.6, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 20.4. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 14.00 cents and EPS of 20.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 19.1, implying annual growth of 13.0%. Current consensus DPS estimate is 13.8, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 18.0. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates NEC as Outperform (1) -
First half results were well ahead of expectations. Credit Suisse raises FY17 EBITDA estimate by 10.5%, in line with the mid point of guidance of $158-187m.
The broker notes some encouraging improvement has been sighted in the TV ad market but believes it is probably too early to call a turnaround.
Outperform retained. Target rises to $1.25 from $1.15.
Target price is $1.25 Current Price is $1.03 Difference: $0.215
If NEC meets the Credit Suisse target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $1.05, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 8.50 cents and EPS of 10.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of -68.0%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 10.1%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 9.28 cents and EPS of 10.92 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.1, implying annual growth of -5.9%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 10.0%. Current consensus EPS estimate suggests the PER is 9.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates NEC as Hold (3) -
While Nine's result was boosted by an extra week in the half, lower costs and growth in affiliate and production revenues still affected a beat of the broker's forecast. Management has guided to a better performance in the second half, supported by improved ratings.
The broker has already priced in improvement. Hold and $1.10 target retained.
Target price is $1.10 Current Price is $1.03 Difference: $0.065
If NEC meets the Deutsche Bank target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $1.05, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 9.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of -68.0%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 10.1%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 10.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.1, implying annual growth of -5.9%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 10.0%. Current consensus EPS estimate suggests the PER is 9.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates NEC as Underweight (5) -
First half results were ahead of weak expectations. TV revenues were down -5%, and other sources had pointed to a much more material decline, perhaps as great as -14.5%.
Morgan Stanley believes the best opportunity for the company to outperform will be if it can lift its revenue market share on lower costs.
Recent audience gains are positive but not enough to change the broker's Underweight rating. Attractive industry view. Target is $0.90.
Target price is $0.90 Current Price is $1.03 Difference: minus $0.135 (current price is over target).
If NEC meets the Morgan Stanley target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.05, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 10.20 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of -68.0%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 10.1%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 9.30 cents and EPS of 10.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.1, implying annual growth of -5.9%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 10.0%. Current consensus EPS estimate suggests the PER is 9.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates NEC as Neutral (3) -
Nine's first half earnings beat expectation but given the first half contained 27 weeks, and the second will contain 25, on an FY run-rate the result was in line, the broker suggests. Costs fell more than the broker expected but then the half cycled last year's Ashes and deferment of programming when Seven had the Olympics.
FY18 is hard to measure, the broker suggests. Revenues will rebound out of the Olympic year but costs will rise for NRL and the studio lease, offset by planned cost-outs. Neutral and 90c target retained.
Target price is $0.90 Current Price is $1.03 Difference: minus $0.135 (current price is over target).
If NEC meets the UBS target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.05, suggesting upside of 1.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 10.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.8, implying annual growth of -68.0%. Current consensus DPS estimate is 10.5, implying a prospective dividend yield of 10.1%. Current consensus EPS estimate suggests the PER is 8.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 10.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.1, implying annual growth of -5.9%. Current consensus DPS estimate is 10.3, implying a prospective dividend yield of 10.0%. Current consensus EPS estimate suggests the PER is 9.3. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates OGC as Buy (1) -
Financial performance slightly missed. Citi has kept its Buy rating while awaiting further clarity around the Philippine’s threatened suspension of the Didipio mine operations. Target remains $4.70.
Target price is $4.70 Current Price is $3.95 Difference: $0.75
If OGC meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $4.60, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 3.99 cents and EPS of 27.69 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.8, implying annual growth of N/A. Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.9. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 3.99 cents and EPS of 23.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 46.4, implying annual growth of 3.6%. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.6. |
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
Credit Suisse rates OGC as Outperform (1) -
2016 results were in line with expectations. Credit Suisse notes catalysts for 2017 include the ramp up at Haile, exploration success in US joint ventures and an update on the Philippines suspension.
Credit Suisse retains an Outperform rating and $4.20 target.
Target price is $4.20 Current Price is $3.95 Difference: $0.25
If OGC meets the Credit Suisse target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.60, suggesting upside of 15.1% (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 56.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.8, implying annual growth of N/A. Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 2.66 cents and EPS of 40.94 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 46.4, implying annual growth of 3.6%. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.6. |
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
UBS rates OGC as Sell (5) -
Excluding one-offs, Oceana's result was a small beat. But that's by the by.
All hinges on Oceana successfully appealing the Philippines govt suspension order on Didipio. The company has until mid-March to lodge the appeal and can keep operating until this time.
The company offers global diversification to offset this risk, but the broker sees the risk as too great to justify investment when there are alternatives. Sell and $3.77 target retained.
Target price is $3.77 Current Price is $3.95 Difference: minus $0.18 (current price is over target).
If OGC meets the UBS target it will return approximately minus 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $4.60, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 6.66 cents and EPS of 53.26 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.8, implying annual growth of N/A. Current consensus DPS estimate is 4.1, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.9. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 6.69 cents and EPS of 66.89 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 46.4, implying annual growth of 3.6%. Current consensus DPS estimate is 3.9, implying a prospective dividend yield of 1.0%. Current consensus EPS estimate suggests the PER is 8.6. |
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
Citi rates OZL as Buy (1) -
At face value, it seems like reported financials clearly missed the mark, but Citi analysts point at a one-off legal charge and the DecQ power outage at Prominent Hill. Underlying, the picture is much more positive, they believe.
Citi recently turned itself into a copper bull and OZ Minerals remains the stockbroker's preferred exposure. Final dividend of 14c beat Citi's expectation for 12c. In addition, the company has reconfirmed the timing of the next Carrapateena feasibility study as JunQ17. Citi is anticipating a positive outcome. Buy.
Target price is $11.50 Current Price is $9.63 Difference: $1.87
If OZL meets the Citi target it will return approximately 19% (excluding dividends, fees and charges).
Current consensus price target is $8.88, suggesting downside of -6.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 30.00 cents and EPS of 92.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 26.00 cents and EPS of 85.30 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates OZL as Underperform (5) -
2016 net profit was ahead of estimates. Credit Suisse notes, with no debt and rising cash flow, the company appears well positioned to fund the Carrapateena pre-feasibility.
Underperform rating and $7.15 target retained.
Target price is $7.15 Current Price is $9.63 Difference: minus $2.48 (current price is over target).
If OZL meets the Credit Suisse target it will return approximately minus 26% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.88, suggesting downside of -6.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 12.00 cents and EPS of 56.44 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 12.00 cents and EPS of 7.35 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates OZL as Sell (5) -
Lower revenues led OZ to miss the broker's forecasts and consensus. The broker was surprised by the strength of the dividend given the capital required to take Carrapateena forward.
The broker believes "Carra" will cost more than OZ is assuming. Applying copper price forecasts finds peer Sandfire Resources ((SFR)) offering 75% earnings growth over the next two years and OZ a -20% earnings decline. Sell retained. Target falls to $6.20 from $6.30.
Target price is $6.20 Current Price is $9.63 Difference: minus $3.43 (current price is over target).
If OZL meets the Deutsche Bank target it will return approximately minus 36% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.88, suggesting downside of -6.5% (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 43.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 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 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates OZL as Neutral (3) -
Oz Minerals' 2016 results were slightly better than Macquarie's expectations. Production guidance for 2017 is unchanged for Prominent Hill.
The publication of the full feasibility study on Carrapateena in the second quarter of 2017 is in focus for the broker, as it could see some further refinement of both capital and operating costs for the project. Macquarie has cut 2017 EPS forecast by -1%.
Neutral and $10.40 target retained.
Target price is $10.40 Current Price is $9.63 Difference: $0.77
If OZL meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $8.88, suggesting downside of -6.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 24.00 cents and EPS of 60.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 22.00 cents and EPS of 20.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates OZL as Hold (3) -
2016 gross earnings were below forecasts while underlying earnings beat slightly on the back of lower tax. Ord Minnett considers the results were solid, overall.
The broker believes the stock is fully valued but recent global supply disruptions and the upcoming Carrapateena feasibility should provide near-term support.
Hold rating retained. Target is lifted to $9.00 from $8.50.
Target price is $9.00 Current Price is $9.63 Difference: minus $0.63 (current price is over target).
If OZL meets the Ord Minnett target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $8.88, suggesting downside of -6.5% (ex-dividends)
The company's fiscal year ends in December.
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 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 16.00 cents and EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates OZL as Buy (1) -
OZ Minerals' result was in line but the 14c dividend exceeded the broker's 5c forecast. Management is intent on paying consistent dividends but the broker finds this at odds with required Carrapateena capex.
UBS scoffs at those who are cautious on Carrapateena and believes the feasibility study due in April could provide the details needed to further de-risk the project. Buy retained, target rises to $11 from $10. OZ remains the broker's preferred copper pick.
Target price is $11.00 Current Price is $9.63 Difference: $1.37
If OZL meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $8.88, suggesting downside of -6.5% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 14.00 cents and EPS of 102.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.6, implying annual growth of N/A. Current consensus DPS estimate is 14.9, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 17.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 0.00 cents and EPS of 105.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 43.7, implying annual growth of -21.4%. Current consensus DPS estimate is 13.4, implying a prospective dividend yield of 1.4%. Current consensus EPS estimate suggests the PER is 21.7. |
Market Sentiment: -0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates PPC as Outperform (1) -
Peet's first half results were better than the broker had expected. Management stated the group has moved into the second half of FY17 well positioned to target earnings growth.
Macquarie has lifted its FY17 earnings forecast by 0.5% and dropped FY18 forecast by -0.5%, The broker still believes Peet can continue to grow earnings into weaker residential property sector. Outperform retained and target rises to $1.40 from $1.33.
Target price is $1.40 Current Price is $1.06 Difference: $0.345
If PPC meets the Macquarie target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is $1.26, suggesting upside of 19.7% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 4.30 cents and EPS of 9.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.3, implying annual growth of 6.9%. Current consensus DPS estimate is 5.1, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 11.3. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 4.90 cents and EPS of 9.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 9.3, implying annual growth of N/A. Current consensus DPS estimate is 5.3, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 11.3. |
Market Sentiment: 0.7
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates PPT as Neutral (3) -
H1 performance turned out better than expected. Citi analysts have slightly increased forecasts. In contrast to peers elsewhere, the analysts find little evidence of pressure on margins.
Fund flows appear to be positive, and management is on the lookout for acquisition opportunities, note the analysts. They see the share price as fully valued, and it's not that there are no risks. Neutral. Target price has increased to $51.65 from $48.85.
Target price is $51.65 Current Price is $50.60 Difference: $1.05
If PPT meets the Citi target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $48.27, suggesting downside of -4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 270.00 cents and EPS of 292.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.1, implying annual growth of -3.0%. Current consensus DPS estimate is 257.7, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 285.00 cents and EPS of 314.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 304.1, implying annual growth of 7.8%. Current consensus DPS estimate is 277.3, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates PPT as Neutral (3) -
First half profits beat expectations. While the stock has value appeal, Credit Suisse observes the weak one-year fund performance could crimp net inflows while growth initiatives appear to be only modestly incremental.
Neutral retained. Target rises to $51 from $49.
Target price is $51.00 Current Price is $50.60 Difference: $0.4
If PPT meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges).
Current consensus price target is $48.27, suggesting downside of -4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 265.00 cents and EPS of 291.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.1, implying annual growth of -3.0%. Current consensus DPS estimate is 257.7, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 285.00 cents and EPS of 314.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 304.1, implying annual growth of 7.8%. Current consensus DPS estimate is 277.3, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates PPT as Equal-weight (3) -
First half results were stronger than expected, underpinned by cost performance. Morgan Stanley notes growth aspirations are taking longer than expected.
The broker retains Equal-weight rating given the full valuation. Target rises to $52.50 from $48.50. Industry view: In-line.
Target price is $52.50 Current Price is $50.60 Difference: $1.9
If PPT meets the Morgan Stanley target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $48.27, suggesting downside of -4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 262.00 cents and EPS of 284.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.1, implying annual growth of -3.0%. Current consensus DPS estimate is 257.7, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 299.00 cents and EPS of 326.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 304.1, implying annual growth of 7.8%. Current consensus DPS estimate is 277.3, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates PPT as Sell (5) -
Perpetual's result beat the broker, largely due to the performance of Perpetual Private. Yet two central challenges remain, being a lack of funds flow growth and costs running ahead of revenues as the manager attempts to boost organic growth beyond investments.
Recent fund underperformance suggests funds flow is not about to reverse any time soon, the broker suggests. Sell retained. Target rises to $45.90 from $44.20.
Target price is $45.90 Current Price is $50.60 Difference: minus $4.7 (current price is over target).
If PPT meets the UBS target it will return approximately minus 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $48.27, suggesting downside of -4.0% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 270.00 cents and EPS of 292.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 282.1, implying annual growth of -3.0%. Current consensus DPS estimate is 257.7, implying a prospective dividend yield of 5.1%. Current consensus EPS estimate suggests the PER is 17.8. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 285.00 cents and EPS of 314.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 304.1, implying annual growth of 7.8%. Current consensus DPS estimate is 277.3, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 16.5. |
Market Sentiment: -0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates PRU as Neutral (3) -
Perseus has re-estimated Edikan's reserves and resources using a method it believes more reliably predicts grades. Reserves at Erdikan are now estimated at 56.5Mt at 1.1g/t containing 2.078m oz.
The company has stated it is on track to meet its revised guidance for the second half of FY17 of 90-100koz at US$1,000/oz to US$1,220/oz. Macquarie has cut FY18 and FY19 earnings forecasts by -41% and -47% respectively, FY20 and FY21 forecasts fall by -30% and -39% respectively.
Neutral retained and target reduced to 33c from 37c.
Target price is $0.33 Current Price is $0.34 Difference: minus $0.01 (current price is over target).
If PRU meets the Macquarie target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $0.51, suggesting upside of 41.1% (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 minus 6.90 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -3.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 3.60 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 1.2, 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 30.0. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates PTM as Upgrade to Hold from Sell (3) -
The company's strong first half result surprised the broker, with both management fee margins and costs beating forecasts.
Ord Minnett believes the balance sheet is well positioned, with net cash of $365m, and while the company has a buy-back program it has so far not bought back a single share despite the price having dipped below $4.80.
As a result, the broker has removed the buy-back from its estimates, preferring instead to see Platinum returning cash to shareholders via higher dividends.
Upgrade to Hold from Sell and target rises to $4.93 from $4.69.
Target price is $4.93 Current Price is $4.93 Difference: $0
If PTM meets the Ord Minnett target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $4.80, suggesting downside of -6.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 28.00 cents and EPS of 30.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.6, implying annual growth of -22.3%. Current consensus DPS estimate is 28.3, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 19.2. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 27.40 cents and EPS of 28.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 26.7, implying annual growth of 0.4%. Current consensus DPS estimate is 27.9, implying a prospective dividend yield of 5.5%. Current consensus EPS estimate suggests the PER is 19.1. |
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates QAN as Buy (1) -
Citi comments it was a strong result under difficult circumstances. Of equal importance, the analysts suggest a rational domestic duopoly is increasingly becoming evident.
The airline is projected to accumulate ever more free cash, even with scheduled $1.5bn capex annually. Capital management is here to stay, is the underlying message. Price target rises to $4.71 from $4.55. Buy.
Target price is $4.71 Current Price is $3.74 Difference: $0.97
If QAN meets the Citi target it will return approximately 26% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 17.00 cents and EPS of 57.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 33.00 cents and EPS of 65.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates QAN as Outperform (1) -
First half results were ahead of expectations. Credit Suisse suspects that, as the company continues to deliver a solid performance, the market is likely to take a less bearish view on the quality of the business and ascribe a higher rating.
The broker expects a further buy-back announcement at the FY17 results. Outperform retained. Target rises to $4.80 from $4.40.
Target price is $4.80 Current Price is $3.74 Difference: $1.06
If QAN meets the Credit Suisse target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 15.00 cents and EPS of 51.01 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 17.00 cents and EPS of 57.63 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates QAN as Buy (1) -
Qantas' result beat the broker and the top end of guidance. The broker has made only minor adjustments to forecasts, which assume ongoing pressure on revenue per seat/km. Target falls to $4.10 from $4.30.
An easing of competitive pressure offers upside potential, the broker suggests. Buy retained.
Target price is $4.10 Current Price is $3.74 Difference: $0.36
If QAN meets the Deutsche Bank target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 13.00 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 14.00 cents and EPS of 49.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates QAN as Outperform (1) -
Qantas Airway's first half results were above the broker's expectations. Domestic revenues were slightly lower than the pcp, but is expected to improve in the second half, despite continued softness in resources.
Group international capacity is expected to increase by 3%, as the company targets growing Asian markets. Management has indicated that where there is surplus capital, the group intends to distribute a dividend half yearly and continue with the buy-back.
Macquarie has made minor changes to profit forecasts, lowering FY17 by -2% and raising FY18 by 6.3%. Outperform retained and target rises to $4.50 from $4.20.
Target price is $4.50 Current Price is $3.74 Difference: $0.76
If QAN meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 14.00 cents and EPS of 56.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 27.60 cents and EPS of 55.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates QAN as Overweight (1) -
First half earnings were better than expected. With capital management and cost initiatives tapering off Morgan Stanley believes the operating outlook is increasingly important.
Morgan Stanley retains an Overweight rating and Attractive Industry view. Target is raised to $4.30 from $4.05.
Target price is $4.30 Current Price is $3.74 Difference: $0.56
If QAN meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 27.00 cents and EPS of 54.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 28.00 cents and EPS of 54.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates QAN as Buy (1) -
First half pre-tax profit was slightly ahead of forecasts. Ord Minnett is pleased with the improving trends in the domestic business but notes trading conditions remain challenging.
International markets are a concern as these appear to have deteriorated in the second quarter. The broker continues to believe the stock offers good fundamental value in the longer term.
Buy retained. Target is reduced to $4.30 from $4.50.
Target price is $4.30 Current Price is $3.74 Difference: $0.56
If QAN meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 13.00 cents and EPS of 46.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 15.00 cents and EPS of 49.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates QAN as Buy (1) -
Qantas' first half decline in cash flow and profit reflected a period of declining domestic demand and increased international competition, the broker notes. Management expects domestic demand to turn around in the second half and for competitive pressures to ease.
The dividend disappointed due to a need to address debt. The broker believes earnings peaked in FY16 but the ongoing buyback supports increased EPS forecasts. Buy and $3.95 target retained.
Target price is $3.95 Current Price is $3.74 Difference: $0.21
If QAN meets the UBS target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.38, suggesting upside of 18.4% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 15.00 cents and EPS of 51.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.4, implying annual growth of 12.1%. Current consensus DPS estimate is 18.0, implying a prospective dividend yield of 4.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 19.00 cents and EPS of 55.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 55.1, implying annual growth of -0.5%. Current consensus DPS estimate is 21.9, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 6.7. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates QUB as Neutral (3) -
First half results showed a strong improvement in logistics and port & bulk while the competitive outlook is tough for Patrick, Credit Suisse observes.
The shares appear fully valued to the broker and more comfort is required on the competitive risks at Patrick and the signing up of tenants for Moorebank before the broker becomes more positive.
Credit Suisse retains a Neutral rating and $2.30 target.
Target price is $2.30 Current Price is $2.35 Difference: minus $0.05 (current price is over target).
If QUB 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 $2.58, suggesting upside of 10.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 5.40 cents and EPS of 6.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 7.7, implying annual growth of -6.0%. Current consensus DPS estimate is 5.6, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 30.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 5.40 cents and EPS of 8.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 8.8, implying annual growth of 14.3%. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 26.5. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates RCR as Outperform (1) -
First half results were in line with the broker's expectations. Macquarie estimates that the company has over 90% of its $1.1bn revenue forecast in hand, and expects a strong recovery in earnings in the second half and FY18.
Macquarie has lowered FY17 earnings forecast by -10.9% and raised FY18 forecast by 2.1%. The broker expects improved margins and revenues into the second half.
Outperform rating retained and target raised to $3.33 from $2.92.
Target price is $3.33 Current Price is $3.11 Difference: $0.22
If RCR meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.00 cents and EPS of 25.10 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 10.00 cents and EPS of 31.10 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates REH as Buy (1) -
And yet another strong result, exclaim analysts at Citi. Albeit a little below expectations. Minor cuts have been implemented to forecasts. Price target price drops -3% to $49.79.
Part of the "miss", or so it appears, are flat EBIT margins while Citi had assumed a small increase. Despite management's caution, the analysts think there's a chance the business will not experience a slowdown in H2. Buy.
Target price is $49.79 Current Price is $43.10 Difference: $6.69
If REH meets the Citi target it will return approximately 16% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 100.00 cents and EPS of 203.30 cents. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 105.00 cents and EPS of 210.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates RHC as Neutral (3) -
Citi analysts seem a little underwhelmed by the reported H1 financials. They note the operations in France showed like-for-like EBITDA declining, while UK EBITDA was flat.
Combined with the pharmacy diversification, Citi analyst believe the quality of future growth has eroded, somewhat. The CEO leaving only further adds to market uncertainty.
Recent share price weakness is seen as appropriate in light of the changing risk profile. FY17-19 EPS estimates decline by -1% to -6%. Neutral. Target declines to $74.50 from $80.19.
Target price is $74.50 Current Price is $69.43 Difference: $5.07
If RHC meets the Citi target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 137.00 cents and EPS of 260.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 159.00 cents and EPS of 290.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates RHC as Neutral (3) -
First half results were in line with estimates. Credit Suisse notes the regional outlook is mixed.
Australian hospital revenue is expected to grow ahead of the industry average in the near to medium term, while French hospital revenue growth is expected to stay muted.
Neutral retained. Target is $75.
Target price is $75.00 Current Price is $69.43 Difference: $5.57
If RHC meets the Credit Suisse target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 135.00 cents and EPS of 262.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 149.00 cents and EPS of 289.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates RHC as Equal-weight (3) -
First half results were weaker than expected. The company provided the expected upgrade to FY17, despite ongoing headwinds in the UK and France.
Visibility into global procurement synergies and the Australian retail pharmacy roll-out explains for Morgan Stanley the increase in FY17 guidance to 12-15% core net profit growth, from 10-12%.
However, without a successor being announced to the retiring CEO the broker suspects questions may linger around the sustainability of the upgrade cycle in FY18 and beyond.
Price target is reduced to $64.30 from $70.60. Equal-weight rating retained. Industry view is In-Line.
Target price is $64.30 Current Price is $69.43 Difference: minus $5.13 (current price is over target).
If RHC meets the Morgan Stanley target it will return approximately minus 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 145.00 cents and EPS of 261.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 162.00 cents and EPS of 298.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates RHC as Add (1) -
First half results were in line with expectations. Morgans is encouraged by domestic admission growth, which is tracking to the long-term average despite industry volatility.
The broker notes the retail pharmacy network is rapidly expanding, with 22 sites in the portfolio that contributed 1.4% to Australian growth.
Morgans retains an Add rating. Target price is raised to $88.40 from $87.28.
Target price is $88.40 Current Price is $69.43 Difference: $18.97
If RHC meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 134.00 cents and EPS of 273.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 151.00 cents and EPS of 305.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates RHC as Accumulate (2) -
First half net profit was ahead of forecasts. Despite the uncertainty caused by the announcement of the CEO's retirement Ord Minnett is comfortable the outlook is robust, even if demand conditions are volatile.
The move into pharmacies should also provide another leg to growth. The broker maintains an Accumulate rating and lowers the target to $80 from $81.
Target price is $80.00 Current Price is $69.43 Difference: $10.57
If RHC meets the Ord Minnett target it will return approximately 15% (excluding dividends, fees and charges).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 133.00 cents and EPS of 261.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 144.00 cents and EPS of 286.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates RHC as Neutral (3) -
Ramsay posted another solid result. The shares sold off, the broker suggests, because the CEO of nine years, who has overseen 500% earnings growth, announced his retirement. FY earnings growth was upgraded to 12-14% growth from 10-12%.
FY18 looks a little more challenging without M&A, the broker suggests, but increased procurement savings should offset. Neutral retained on valuation. Target rises to $79.00 from $78.35.
Target price is $79.00 Current Price is $69.43 Difference: $9.57
If RHC meets the UBS target it will return approximately 14% (excluding dividends, fees and charges).
Current consensus price target is $76.17, suggesting upside of 9.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 134.00 cents and EPS of 267.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 262.5, implying annual growth of 20.6%. Current consensus DPS estimate is 135.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 26.4. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 154.00 cents and EPS of 291.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 293.5, implying annual growth of 11.8%. Current consensus DPS estimate is 153.6, implying a prospective dividend yield of 2.2%. Current consensus EPS estimate suggests the PER is 23.6. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates RWC as Outperform (1) -
First half results were slightly ahead of the broker's expectations. The company confirmed it is confident of meeting, or marginally beating, its FY17 prospectus profit forecast of $62.6m.
Macquarie has raised FY17 earnings forecast by 0.9% and FY18 forecasts by 0.6%,
Price target rises to $3.50 from $3.40 and the Outperform rating retained.
Target price is $3.50 Current Price is $2.84 Difference: $0.66
If RWC meets the Macquarie target it will return approximately 23% (excluding dividends, fees and charges).
Current consensus price target is $3.19, suggesting upside of 12.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 6.00 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 23.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 7.00 cents and EPS of 13.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.9, implying annual growth of 15.8%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 2.4%. 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 RWC as Hold (3) -
First half results were ahead of expectations. The company expects FY17 net profit to be in line or slightly ahead of prospectus guidance.
Hold retained. Target falls to $2.94 from $3.10, as Morgans reflects the risk of further loss of shelf space at Home Depot, particularly in the key PTC fittings category which has been a major driver of growth historically.
Additional volume from Lowe's is expected to offset some of this risk.
Target price is $2.94 Current Price is $2.84 Difference: $0.1
If RWC meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $3.19, suggesting upside of 12.9% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 5.80 cents and EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 23.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 7.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.9, implying annual growth of 15.8%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 2.4%. 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 RWC as Accumulate (2) -
First half operating earnings beat forecasts. Ord Minnett notes the focus of the results was squarely on the retail distribution arrangements in the US.
Management confirmed the roll out of SharkBite products in Lowe's but also announced PEX pipe and crimp fittings will be de-listed from Home Depot.
There was no guidance on the net effect of these changes but Ord Minnett expects it should be positive. Accumulate retained. Target is raised to $3.45 from $3.25.
Target price is $3.45 Current Price is $2.84 Difference: $0.61
If RWC meets the Ord Minnett target it will return approximately 21% (excluding dividends, fees and charges).
Current consensus price target is $3.19, suggesting upside of 12.9% (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 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.0, implying annual growth of N/A. Current consensus DPS estimate is 6.0, implying a prospective dividend yield of 2.1%. Current consensus EPS estimate suggests the PER is 23.5. |
Forecast for FY18:
Ord Minnett 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 13.9, implying annual growth of 15.8%. Current consensus DPS estimate is 6.8, implying a prospective dividend yield of 2.4%. 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
Citi rates SIQ as Upgrade to Neutral from Sell (3) -
Citi analysts saw the company reporting a strong result, but they remain of the view that future growth will be a challenge, including via acquisitions. The interim report did surprise and thus estimates have gone up by double-digits.
Stronger organic growth pushes up the target price by 13% to $6.61. Upgrade to Neutral from Sell. Catalysts to watch out for include the outcomes from the WA Salary Packaging panel, new client wins and client churn rates post acquisitions, point out the analysts.
Target price is $6.61 Current Price is $6.37 Difference: $0.24
If SIQ meets the Citi target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $6.85, suggesting upside of 3.7% (ex-dividends)
Forecast for FY17:
Current consensus EPS estimate is 44.4, implying annual growth of N/A. Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Current consensus EPS estimate is 50.0, implying annual growth of 12.6%. Current consensus DPS estimate is 33.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 13.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates SIQ as Outperform (1) -
2016 results were ahead of expectations. Credit Suisse gains conviction in forecasts from the results, noting momentum remains positive.
Outperform rating maintained. Target rises to $7.05 from $6.90.
Target price is $7.05 Current Price is $6.37 Difference: $0.68
If SIQ meets the Credit Suisse target it will return approximately 11% (excluding dividends, fees and charges).
Current consensus price target is $6.85, suggesting upside of 3.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 28.45 cents and EPS of 46.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.4, implying annual growth of N/A. Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 31.19 cents and EPS of 50.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.0, implying annual growth of 12.6%. Current consensus DPS estimate is 33.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 13.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SIQ as Hold (3) -
2016 finished strongly and Morgans notes the benefit from acquisitions and expected synergies.
The broker acknowledges the stock represents value, given a solid growth profile and track record but retains a Hold rating, preferring to await confirmation of any medium-term risks arising from increased regulation. Target is reduced to $7.15 from $7.55.
Target price is $7.15 Current Price is $6.37 Difference: $0.78
If SIQ meets the Morgans target it will return approximately 12% (excluding dividends, fees and charges).
Current consensus price target is $6.85, suggesting upside of 3.7% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 31.00 cents and EPS of 48.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.4, implying annual growth of N/A. Current consensus DPS estimate is 31.7, implying a prospective dividend yield of 4.8%. Current consensus EPS estimate suggests the PER is 14.9. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 34.00 cents and EPS of 53.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.0, implying annual growth of 12.6%. Current consensus DPS estimate is 33.2, implying a prospective dividend yield of 5.0%. Current consensus EPS estimate suggests the PER is 13.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SLM as Neutral (3) -
Salmat's first half results were better than the broker had expected. Macquarie notes the company is currently considering a number of strategic options to help drive profitable growth.
FY17 earnings forecast has been raised by 20% and FY18 forecast by 7%.
Neutral rating retained and target raised to 62c from 52c.
Target price is $0.62 Current Price is $0.62 Difference: $0
If SLM meets the Macquarie target it will return approximately 0% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 0.50 cents and EPS of 4.90 cents. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 1.70 cents and EPS of 5.30 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates SOM as Upgrade to Add from Hold (1) -
Morgans found the underlying first half results positive. FY17 guidance is reiterated. A further 10 centres will be rolled out by the end of FY18.
Rating is upgraded to Add from Hold. The target price falls to $4.05 from $4.11. The main risk on the downside the broker envisages is slower-than-expected growth in the key markets of North America and Europe.
Target price is $4.05 Current Price is $3.19 Difference: $0.86
If SOM meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 0.00 cents and EPS of minus 2.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 0.00 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 SXL as Downgrade to Neutral from Outperform (3) -
First half results were in line with expectations but the full-year outlook is disappointing for Credit Suisse. Regional TV ad revenue grew 29% in the first half, below the 30-35% flagged for the full year back in August.
Credit Suisse believes corporate activity is a potential catalyst. With lower earning forecasts, the rating is downgraded to Neutral from Outperform on valuation grounds. Target is reduced to $1.40 from $1.50.
Target price is $1.40 Current Price is $1.34 Difference: $0.065
If SXL meets the Credit Suisse target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $1.30, suggesting downside of -2.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 7.75 cents and EPS of 12.06 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.5, implying annual growth of 13.6%. Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 11.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 8.75 cents and EPS of 12.39 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.1, implying annual growth of 5.2%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 11.0. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates SXL as Hold (3) -
Southern Cross' result slightly missed the broker but fell within the guidance range. FY guidance was effectively lowered given management's expectation of low growth in ad markets, the broker notes.
While encouraged by new initiatives, the broker remains concerned FY17 could represent peak earnings, particularly if declines in regional radio accelerate. Hold and $1.30 target retained.
Target price is $1.30 Current Price is $1.34 Difference: minus $0.035 (current price is over target).
If SXL meets the Deutsche Bank target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.30, suggesting downside of -2.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 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 11.5, implying annual growth of 13.6%. Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 11.6. |
Forecast for FY18:
Deutsche Bank 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 12.1, implying annual growth of 5.2%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 11.0. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates SXL as Underweight (5) -
First half results were softer than expected which surprised Morgan Stanley after a series of positive announcements. Guidance has been shifted to the lower end of the prior EBITDA range of $177-183m.
While the businesses are better run now than they were 18 months ago the broker still finds the regional TV assets structurally challenged.
Underweight rating retained. Industry view is Attractive. Target is $1.10.
Target price is $1.10 Current Price is $1.34 Difference: minus $0.235 (current price is over target).
If SXL meets the Morgan Stanley target it will return approximately minus 18% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $1.30, suggesting downside of -2.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 EPS of 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 11.5, implying annual growth of 13.6%. Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 11.6. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 EPS of 12.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 12.1, implying annual growth of 5.2%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 11.0. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates SXL as Neutral (3) -
Southern Cross' result was in line but FY guidance was tightened to the lower end of the range. The broker notes the first half benefitted from a reduction in radio licence fees.
The company plans to sell off 45 transmission sites which, the broker notes, would mean lost earnings, but the alleviation of maintenance capex requirement would lead to value enhancement. It's unclear what SXL would do with the proceeds given media ownership laws would prevent further radio investment.
Neutral retained. Target falls to $1.40 from $1.50.
Target price is $1.40 Current Price is $1.34 Difference: $0.065
If SXL meets the UBS target it will return approximately 5% (excluding dividends, fees and charges).
Current consensus price target is $1.30, suggesting downside of -2.3% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 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 11.5, implying annual growth of 13.6%. Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 5.9%. Current consensus EPS estimate suggests the PER is 11.6. |
Forecast for FY18:
UBS 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 12.1, implying annual growth of 5.2%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 6.5%. Current consensus EPS estimate suggests the PER is 11.0. |
Market Sentiment: -0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates SXY as Outperform (1) -
Senex Energy's first half loss was in line with the broker's expectations. The company has sanctioned the western Surat gas project and will commit $50m to a thirty well campaign.
Management has guided to FY production of 0.8mmboe, the bottom end of the previous 0.8-1mmboe guidance, reflecting the delay in commissioning Vanessa in PEL 182, which is now due online in FY18.
Macquarie has cut FY17 earnings estimates by -29% in FY17 and -52% in FY18. Outperform retained and target falls to 35c from 40c.
Target price is $0.35 Current Price is $0.36 Difference: minus $0.005 (current price is over target).
If SXY 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 $0.34, 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 0.00 cents and EPS of minus 0.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is -0.6, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 0.00 cents and EPS of 9.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 2.8, 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 12.3. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates TGR as Upgrade to Outperform from Neutral (1) -
First half margins were better than Credit Suisse expected and, given the first half is likely to represent the toughest point in terms of operating conditions, earnings are expected to improve.
The broker expects the market to focus on increasing momentum and FY18 growth. Rating is upgraded to Outperform from Neutral. Target is raised to $5.20 from $4.50.
Target price is $5.20 Current Price is $4.83 Difference: $0.37
If TGR meets the Credit Suisse target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $5.00, 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 16.36 cents and EPS of 28.08 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.5, implying annual growth of -7.4%. Current consensus DPS estimate is 15.7, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.6. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 18.83 cents and EPS of 34.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.3, implying annual growth of 15.7%. Current consensus DPS estimate is 18.2, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 13.5. |
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates TME as Neutral (3) -
Reported financials proved in-line, but it appears costs are under control and this bodes well for the future growth trajectory, comment analysts at Citi. They have lifted estimates in response (2-6%).
The analysts do point out Property and Motors are a bit in a funk. Motors remains the most dominant category. General Items is where the new momentum shows itself. Neutral. Target lifts to $5.10 from $4.55.
Target price is $5.10 Current Price is $4.74 Difference: $0.36
If TME meets the Citi target it will return approximately 8% (excluding dividends, fees and charges).
Current consensus price target is $5.10, suggesting upside of 10.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 15.97 cents and EPS of 21.98 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 16.91 cents and EPS of 24.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 14.7%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.4. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates TME as Underperform (5) -
Credit Suisse observes the company has made a good start to FY17 and the strategy is working. Nevertheless, the broker retains a view that growth reflects better execution versus a larger structural opportunity.
Caution is advised, too, in projecting current momentum to the longer term. The broker believes the market is pricing in opportunities that are hard to see. Rating is Underperform. Price target is raised to NZ$4.50 from NZ$4.17.
Current Price is $4.74. Target price not assessed.
Current consensus price target is $5.10, suggesting upside of 10.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 17.66 cents and EPS of 21.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 21.89 cents and EPS of 24.29 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 14.7%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.4. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates TME as Hold (3) -
A much improved result from Trade Me exceeded the broker's expectations. FY guidance was vaguely upgraded. Management has successfully addressed the issues, the broker suggests, and appears poised to deliver earnings growth.
The share price is still a little too rich for the broker nonetheless. Hold retained. Target rises to NZ$5.41 from NZ$5.01.
Current Price is $4.74. Target price not assessed.
Current consensus price target is $5.10, suggesting upside of 10.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 17.85 cents and EPS of 21.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 18.79 cents and EPS of 24.43 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 14.7%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.4. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates TME as Neutral (3) -
Trade Me's first half result was largely in line with the broker's estimates. Macquarie notes the result shows signs of the long awaited re-acceleration in earning growth.
Macquarie has made minor changes to forecasts, lowering FY17 by -1.3%, FY18 by -1.1% and FY19 by -0.5%.
Neutral and NZ$5.30 target retained.
Current Price is $4.74. Target price not assessed.
Current consensus price target is $5.10, suggesting upside of 10.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 16.82 cents and EPS of 21.61 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 19.07 cents and EPS of 23.77 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 14.7%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.4. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates TME as Overweight (1) -
First half underlying growth in earnings per share was better than expected, at over 16%. This has settled Morgan Stanley's concerns about whether the stock would ever return to EPS growth, after a flat couple of years.
The broker suspects, if current momentum is sustained, that existing guidance may prove too conservative. Overweight retained. Sector view is Attractive. Target is NZ$6.00.
Current Price is $4.74. Target price not assessed.
Current consensus price target is $5.10, suggesting upside of 10.6% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgan Stanley forecasts a full year FY17 dividend of 18.88 cents and EPS of 22.55 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 21.8, implying annual growth of N/A. Current consensus DPS estimate is 17.3, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 21.1. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 EPS of 27.24 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 25.0, implying annual growth of 14.7%. Current consensus DPS estimate is 19.3, implying a prospective dividend yield of 4.2%. Current consensus EPS estimate suggests the PER is 18.4. |
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates TOX as Outperform (1) -
Tox Free's first half results were short of the broker's expectations. The shortfall came from Worth where dry weather impacted on what is largely a liquids business.
Trading conditions are expected to remain challenging in FY17, especially as Gordon volumes continue to decline, but LNG volumes should increase longer term as the new WA plants commence production. Macquarie has cut FY17 earnings forecast by -9.9% and FY18 by -10%.
Outperform retained and target falls to $2.42 from $2.79.
Target price is $2.42 Current Price is $2.26 Difference: $0.16
If TOX meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges).
Current consensus price target is $2.32, 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 9.00 cents and EPS of 15.50 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.7, implying annual growth of 48.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 9.00 cents and EPS of 17.20 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of 15.3%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates TOX as Overweight (1) -
First half earnings disappointed Morgan Stanley. Normalising for the weather impact the result was -5% below forecasts. Nevertheless, the broker finds signs organic growth is improving.
Morgan Stanley trims second half forecasts for Worth as the hot weather has run into 2017, and despite management's expectations for a recovery in the half.
Overweight. Target falls to $2.75 from $3.00. Industry view: In-line.
Target price is $2.75 Current Price is $2.26 Difference: $0.49
If TOX meets the Morgan Stanley target it will return approximately 22% (excluding dividends, fees and charges).
Current consensus price target is $2.32, 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 9.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.7, implying annual growth of 48.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 9.50 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of 15.3%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates TOX as Reduce (5) -
First half results were below expectations, driven by a larger-than-expected decline in waste services as well as a lower contribution from Worth.
The result highlights for Morgans the ongoing struggle with the transition of work. Reduce rating retained. Target is lowered to $1.89 from $2.02.
Target price is $1.89 Current Price is $2.26 Difference: minus $0.37 (current price is over target).
If TOX meets the Morgans target it will return approximately minus 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $2.32, suggesting upside of 2.7% (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 13.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.7, implying annual growth of 48.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 7.00 cents and EPS of 14.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of 15.3%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates TOX as Hold (3) -
First half results were well below forecasts. A lack of rainfall in late 2016 affected volumes in the Worth business. Ord Minnett envisages downside risk to earnings emerging in the near term.
The broker retains a Hold rating and lowers the target to $2.20 from $2.65.
Target price is $2.20 Current Price is $2.26 Difference: minus $0.06 (current price is over target).
If TOX 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 $2.32, suggesting upside of 2.7% (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 11.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.7, implying annual growth of 48.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 9.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of 15.3%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates TOX as Neutral (3) -
Tox Free's result fell short of the broker, with a miss from the Worth business, due to drier weather in NSW, a significant contributor. As dry weather is ongoing, management has abandoned guidance.
Is there further downside risk or has Tox hit a cyclical low? This is the question the market is struggling with, the broker suggests, if valuation is a guide. Neutral retained. Target falls to $2.35 from $2.55.
Target price is $2.35 Current Price is $2.26 Difference: $0.09
If TOX meets the UBS target it will return approximately 4% (excluding dividends, fees and charges).
Current consensus price target is $2.32, 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 9.00 cents and EPS of 15.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.7, implying annual growth of 48.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 3.8%. Current consensus EPS estimate suggests the PER is 16.5. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 10.00 cents and EPS of 16.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 15.8, implying annual growth of 15.3%. Current consensus DPS estimate is 8.9, implying a prospective dividend yield of 3.9%. Current consensus EPS estimate suggests the PER is 14.3. |
Market Sentiment: 0.2
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates VOC as Downgrade to Neutral from Outperform (3) -
First half results were in line with forecasts. Credit Suisse notes cash conversion was weak although the company is mindful of this and intent on making improvements.
The broker retains FY17 EBITDA forecasts at the lower end of the $430-450m range. Rating is downgraded to Neutral from Outperform and the target to $5.00 from $5.70.
Target price is $5.00 Current Price is $4.60 Difference: $0.4
If VOC meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $5.41, suggesting upside of 18.2% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 13.00 cents and EPS of 33.14 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 30.6, implying annual growth of 62.2%. Current consensus DPS estimate is 15.0, implying a prospective dividend yield of 3.3%. Current consensus EPS estimate suggests the PER is 15.0. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 14.30 cents and EPS of 33.96 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 34.1, implying annual growth of 11.4%. Current consensus DPS estimate is 16.7, implying a prospective dividend yield of 3.6%. Current consensus EPS estimate suggests the PER is 13.4. |
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Deutsche Bank rates VVR as Buy (1) -
Viva's result was ahead of prospectus forecasts. The broker believes the REIT's acquisition criteria are very prudent and the current pipeline remains strong.
The prospectus does not factor in acquisitions but the broker has added in recent ones. Buy retained. Target falls to $2.52 from $2.56.
Target price is $2.52 Current Price is $2.40 Difference: $0.12
If VVR meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 13.00 cents and EPS of 13.00 cents. |
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 14.00 cents and EPS of 14.00 cents. |
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates VVR as Add (1) -
2016 results were slightly ahead of prospectus. 2017 guidance is reiterated. Morgans expects the near-term news flow will relate to acquisitions. The company has announced $26.2m in acquisitions which are due to settle on March 31 2017.
The broker likes the distribution yield and upgrades the target to $2.54 from $2.56. Add rating retained.
Target price is $2.54 Current Price is $2.40 Difference: $0.14
If VVR meets the Morgans target it will return approximately 6% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 13.50 cents and EPS of 13.50 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 14.20 cents and EPS of 14.20 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 WEB as Outperform (1) -
First half underlying EBITDA was ahead of expectations. Credit Suisse notes that cash has historically been heavily weighted to the second half.
While not cheap, Credit Suisse believes the stock has momentum and long-term growth via Thomas Cook. Outperform rating. Target rises to $12.00 from $10.90.
Target price is $12.00 Current Price is $11.74 Difference: $0.26
If WEB meets the Credit Suisse target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $11.86, suggesting upside 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 18.02 cents and EPS of 40.15 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 24.02 cents and EPS of 48.78 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.2, implying annual growth of 13.3%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgan Stanley rates WEB as Equal-weight (3) -
First half results were in line with expectations. Morgan Stanley re-visits its concerns regarding the cash flow conversion of B2B, which is tracking behind forecasts in terms of total transaction value.
The broker now expects Online Republic growth to be higher than the 15% previously factored in for FY17.
Equal-weight retained. Industry view: In line. Target is raised to $10.50 from $9.30.
Target price is $10.50 Current Price is $11.74 Difference: minus $1.24 (current price is over target).
If WEB meets the Morgan Stanley target it will return approximately minus 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $11.86, suggesting upside 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 20.00 cents and EPS of 41.40 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY18:
Morgan Stanley forecasts a full year FY18 dividend of 24.20 cents and EPS of 50.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.2, implying annual growth of 13.3%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates WEB as Hold (3) -
First half net profit beat forecasts. FY17 EBITDA guidance is upgraded by 7%. Morgans believes the company is well positioned to report strong double digit earnings growth over the next few years.
Hold rating is retained, based on current fundamentals. Target is raised to $12.80 from $9.95.
Target price is $12.80 Current Price is $11.74 Difference: $1.06
If WEB meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
Current consensus price target is $11.86, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 18.00 cents and EPS of 41.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 26.00 cents and EPS of 52.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.2, implying annual growth of 13.3%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WEB as Accumulate (2) -
First half results were slightly below estimates as top line growth moderated. Full year guidance is upgraded. Ord Minnett observes the company is able to deliver strong growth in transaction value in the B2C division, notwithstanding the challenging conditions.
Also, the B2B opportunity is considered increasingly attractive from an earnings perspective as scale is built. Accumulate rating. Price target rises to $12.50 from $12.00.
Target price is $12.50 Current Price is $11.74 Difference: $0.76
If WEB meets the Ord Minnett target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $11.86, suggesting upside 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 19.00 cents and EPS of 58.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 dividend of 26.00 cents and EPS of 51.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.2, implying annual growth of 13.3%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WEB as Downgrade to Neutral from Buy (3) -
Webjet's result beat UBS forecasts across all divisions. FY guidance has been increased and the balance sheet is in good shape.
Messy cash flows and working capital adjustments nevertheless reduced the quality of the beat, the broker suggests. UBS believes there's still plenty of momentum in the business but this is priced in, to the point of near perfection. Forecasts increased but rating pulled back to Neutral. Target rises to $11.50 from $10.72.
Target price is $11.50 Current Price is $11.74 Difference: minus $0.24 (current price is over target).
If WEB meets the UBS target it will return approximately minus 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $11.86, suggesting upside of 1.8% (ex-dividends)
The company's fiscal year ends in June.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 16.50 cents and EPS of 40.80 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 44.3, implying annual growth of 61.9%. Current consensus DPS estimate is 18.3, implying a prospective dividend yield of 1.6%. Current consensus EPS estimate suggests the PER is 26.3. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 18.00 cents and EPS of 49.10 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 50.2, implying annual growth of 13.3%. Current consensus DPS estimate is 23.6, implying a prospective dividend yield of 2.0%. Current consensus EPS estimate suggests the PER is 23.2. |
Market Sentiment: 0.3
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Citi rates WFD as Neutral (3) -
Citi analysts comment FY16 free funds from operations (FFO) of 33.7c came in at the lower end of guidance, but contribution from core operations disappointed.
FY17 FFO guidance is 33.8-34.0c, which is below market expectations, the analysts note, adding market expectations had been reduced already. Citi analysts point out the market has been overestimating growth since 2010, at least.
Citi remains of the view market expectations remain too bullish. Neutral. Westfield remains the stockbroker's least preferred retail large cap AREIT. Target $8.90 (was $9.19).
Target price is $8.90 Current Price is $8.90 Difference: $0
If WFD meets the Citi target it will return approximately 0% (excluding dividends, fees and charges).
Current consensus price target is $10.13, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Citi forecasts a full year FY17 dividend of 33.95 cents and EPS of 45.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 25.1. |
Forecast for FY18:
Citi forecasts a full year FY18 dividend of 34.22 cents and EPS of 45.67 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.2, implying annual growth of 17.7%. Current consensus DPS estimate is 32.9, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Macquarie rates WFD as Underperform (5) -
Westfield's 2016 results were largely in line with Macquarie's forecasts. Company guidance was for FFO of 33.8-34cps, representing a mere 0-1% growth over 2016.
Macquarie has raised its CY17 FFO forecast by 0.5% and lowered CY18 by -2.5%. Underperform rating retained and target reduced to $9.04 from $9.20.
Target price is $9.04 Current Price is $8.90 Difference: $0.14
If WFD meets the Macquarie target it will return approximately 2% (excluding dividends, fees and charges).
Current consensus price target is $10.13, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Macquarie forecasts a full year FY17 dividend of 25.50 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 25.1. |
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 26.00 cents and EPS of 33.70 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.2, implying annual growth of 17.7%. Current consensus DPS estimate is 32.9, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ord Minnett rates WFD as Accumulate (2) -
2016 results were in line with expectations. Ord Minnett notes active developments are on track and should be highly accretive, further improving the portfolio quality and driving material growth over the next three years.
The broker maintains an Accumulate recommendation and $11.60 target.
Target price is $11.60 Current Price is $8.90 Difference: $2.7
If WFD meets the Ord Minnett target it will return approximately 30% (excluding dividends, fees and charges).
Current consensus price target is $10.13, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
Ord Minnett forecasts a full year FY17 dividend of 26.00 cents and EPS of 31.00 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 25.1. |
Forecast for FY18:
Ord Minnett forecasts a full year FY18 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 41.2, implying annual growth of 17.7%. Current consensus DPS estimate is 32.9, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
UBS rates WFD as Buy (1) -
Westfield's result was in line with expectation but FY guidance is a touch lower. The result again highlighted the company's "relentless" focus on long term asset value creation at the expense of near terms funds from operations, the broker notes.
But the stock's discount to net asset value, the quality of the portfolio and development opportunities are too great to ignore, the broker believes. Buy retained. Target falls to $9.80 from $10.42.
Target price is $9.80 Current Price is $8.90 Difference: $0.9
If WFD meets the UBS target it will return approximately 10% (excluding dividends, fees and charges).
Current consensus price target is $10.13, suggesting upside of 15.1% (ex-dividends)
The company's fiscal year ends in December.
Forecast for FY17:
UBS forecasts a full year FY17 dividend of 45.27 cents and EPS of 45.27 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 35.0, implying annual growth of N/A. Current consensus DPS estimate is 31.2, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 25.1. |
Forecast for FY18:
UBS forecasts a full year FY18 dividend of 45.27 cents and EPS of 50.59 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 41.2, implying annual growth of 17.7%. Current consensus DPS estimate is 32.9, implying a prospective dividend yield of 3.7%. Current consensus EPS estimate suggests the PER is 21.4. |
Market Sentiment: 0.4
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Credit Suisse rates WTC as Neutral (3) -
First half results were in line with guidance. Top line growth was boosted by the consolidation of SoftShip. Adjusting for this, organic constant currency revenue growth was still ahead of prospectus and at the lower end of the updated 34-40% guidance range.
Credit Suisse expects the stock can trade at a premium to domestic and global peers given it has over-delivered on expectations to date. Neutral rating and $4.80 target retained.
Target price is $4.80 Current Price is $5.50 Difference: minus $0.7 (current price is over target).
If WTC meets the Credit Suisse target it will return approximately minus 13% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $5.46, 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 2.00 cents and EPS of 10.34 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 10.2, implying annual growth of 27.5%. Current consensus DPS estimate is 2.0, implying a prospective dividend yield of 0.4%. Current consensus EPS estimate suggests the PER is 53.9. |
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 2.50 cents and EPS of 13.09 cents. How do these forecasts compare to market consensus projections? Current consensus EPS estimate is 13.5, implying annual growth of 32.4%. Current consensus DPS estimate is 2.6, implying a prospective dividend yield of 0.5%. Current consensus EPS estimate suggests the PER is 40.7. |
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Morgans rates XIP as Hold (3) -
First half earnings were slightly ahead of expectations. The company is now the second largest IP player in Australia, Morgans observes.
The broker would like to have evidence of the progress on integrating acquisitions, given the quantum, before re-visiting its Hold rating. Target falls to $2.14 from $2.92.
Target price is $2.14 Current Price is $1.97 Difference: $0.17
If XIP meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY17:
Morgans forecasts a full year FY17 dividend of 10.00 cents and EPS of 19.00 cents. |
Forecast for FY18:
Morgans forecasts a full year FY18 dividend of 11.00 cents and EPS of 20.00 cents. |
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Summaries
| 3PL - | 3P LEARNING | Upgrade to Outperform from Neutral - Macquarie | Overnight Price $0.99 |
| AAD - | ARDENT LEISURE | Downgrade to Sell from Buy - Citi | Overnight Price $1.69 |
| Outperform - Credit Suisse | Overnight Price $1.69 | ||
| Hold - Deutsche Bank | Overnight Price $1.69 | ||
| Neutral - Macquarie | Overnight Price $1.69 | ||
| Hold - Morgans | Overnight Price $1.69 | ||
| Hold - Ord Minnett | Overnight Price $1.69 | ||
| Neutral - UBS | Overnight Price $1.69 | ||
| ABA - | AUSWIDE BANK | Neutral - Macquarie | Overnight Price $5.28 |
| ABC - | ADELAIDE BRIGHTON | Sell - Citi | Overnight Price $5.45 |
| Neutral - Credit Suisse | Overnight Price $5.45 | ||
| Hold - Deutsche Bank | Overnight Price $5.45 | ||
| Outperform - Macquarie | Overnight Price $5.45 | ||
| Underweight - Morgan Stanley | Overnight Price $5.45 | ||
| Hold - Ord Minnett | Overnight Price $5.45 | ||
| ACX - | ACONEX | Neutral - UBS | Overnight Price $3.31 |
| AHY - | ASALEO CARE | Neutral - Citi | Overnight Price $1.55 |
| Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $1.55 | ||
| Outperform - Macquarie | Overnight Price $1.55 | ||
| AIZ - | AIR NEW ZEALAND | Neutral - Credit Suisse | Overnight Price $2.13 |
| Hold - Deutsche Bank | Overnight Price $2.13 | ||
| Neutral - Macquarie | Overnight Price $2.13 | ||
| Neutral - UBS | Overnight Price $2.13 | ||
| APN - | APN NEWS & MEDIA | Upgrade to Buy from Neutral - UBS | Overnight Price $2.63 |
| AWC - | ALUMINA | Sell - Citi | Overnight Price $1.95 |
| Underperform - Credit Suisse | Overnight Price $1.95 | ||
| Sell - Deutsche Bank | Overnight Price $1.95 | ||
| Outperform - Macquarie | Overnight Price $1.95 | ||
| Accumulate - Ord Minnett | Overnight Price $1.95 | ||
| Sell - UBS | Overnight Price $1.95 | ||
| BLX - | BEACON LIGHTING | Add - Morgans | Overnight Price $1.72 |
| BRG - | BREVILLE GROUP | Outperform - Macquarie | Overnight Price $8.81 |
| Neutral - UBS | Overnight Price $8.81 | ||
| CCL - | COCA-COLA AMATIL | Neutral - Macquarie | Overnight Price $10.59 |
| CGC - | COSTA GROUP | Buy - UBS | Overnight Price $3.59 |
| CVW - | CLEARVIEW WEALTH | Outperform - Macquarie | Overnight Price $1.33 |
| CWN - | CROWN RESORTS | Buy - Citi | Overnight Price $12.29 |
| Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $12.29 | ||
| Buy - Deutsche Bank | Overnight Price $12.29 | ||
| Hold - Ord Minnett | Overnight Price $12.29 | ||
| Buy - UBS | Overnight Price $12.29 | ||
| CWY - | CLEANAWAY WASTE MANAGEMENT | Downgrade to Neutral from Outperform - Macquarie | Overnight Price $1.13 |
| Upgrade to Add from Hold - Morgans | Overnight Price $1.13 | ||
| Accumulate - Ord Minnett | Overnight Price $1.13 | ||
| Downgrade to Neutral from Buy - UBS | Overnight Price $1.13 | ||
| DTL - | DATA#3 | Add - Morgans | Overnight Price $1.70 |
| EHE - | ESTIA HEALTH | Neutral - Macquarie | Overnight Price $3.25 |
| Underweight - Morgan Stanley | Overnight Price $3.25 | ||
| ENN - | ELANOR INVESTORS | Buy - Ord Minnett | Overnight Price $2.06 |
| EPW - | ERM POWER | Downgrade to Sell from Neutral - Citi | Overnight Price $1.17 |
| Underperform - Macquarie | Overnight Price $1.17 | ||
| FLN - | FREELANCER | Buy - UBS | Overnight Price $0.84 |
| FLT - | FLIGHT CENTRE | Neutral - Citi | Overnight Price $29.84 |
| Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $29.84 | ||
| Hold - Deutsche Bank | Overnight Price $29.84 | ||
| Underperform - Macquarie | Overnight Price $29.84 | ||
| Underweight - Morgan Stanley | Overnight Price $29.84 | ||
| Hold - Morgans | Overnight Price $29.84 | ||
| Hold - Ord Minnett | Overnight Price $29.84 | ||
| Buy - UBS | Overnight Price $29.84 | ||
| HPI - | HOTEL PROPERTY INVESTMENTS | Add - Morgans | Overnight Price $2.78 |
| Hold - Ord Minnett | Overnight Price $2.78 | ||
| HUO - | HUON AQUACULTURE | Outperform - Credit Suisse | Overnight Price $4.93 |
| IDX - | INTEGRAL DIAGNOSTICS | Buy - UBS | Overnight Price $1.17 |
| ILU - | ILUKA RESOURCES | Buy - Citi | Overnight Price $6.98 |
| Neutral - Credit Suisse | Overnight Price $6.98 | ||
| Sell - Deutsche Bank | Overnight Price $6.98 | ||
| Overweight - Morgan Stanley | Overnight Price $6.98 | ||
| Lighten - Ord Minnett | Overnight Price $6.98 | ||
| Buy - UBS | Overnight Price $6.98 | ||
| IOF - | INVESTA OFFICE | Neutral - Citi | Overnight Price $4.66 |
| Neutral - Macquarie | Overnight Price $4.66 | ||
| Lighten - Ord Minnett | Overnight Price $4.66 | ||
| Sell - UBS | Overnight Price $4.66 | ||
| IRE - | IRESS MARKET TECHN | Outperform - Credit Suisse | Overnight Price $12.02 |
| ISD - | ISENTIA | Neutral - UBS | Overnight Price $1.66 |
| IVC - | INVOCARE | Sell - Citi | Overnight Price $14.15 |
| Sell - Deutsche Bank | Overnight Price $14.15 | ||
| Outperform - Macquarie | Overnight Price $14.15 | ||
| Overweight - Morgan Stanley | Overnight Price $14.15 | ||
| Lighten - Ord Minnett | Overnight Price $14.15 | ||
| Neutral - UBS | Overnight Price $14.15 | ||
| KSL - | KINA SECURITIES | Add - Morgans | Overnight Price $1.05 |
| LOV - | LOVISA | Outperform - Macquarie | Overnight Price $4.01 |
| Downgrade to Hold from Add - Morgans | Overnight Price $4.01 | ||
| MLB - | MELBOURNE IT | Buy - Ord Minnett | Overnight Price $2.17 |
| MMS - | MCMILLAN SHAKESPEARE | Outperform - Credit Suisse | Overnight Price $11.97 |
| MOC - | MORTGAGE CHOICE | Outperform - Macquarie | Overnight Price $2.47 |
| MQA - | MACQUARIE ATLAS ROADS | Outperform - Credit Suisse | Overnight Price $5.10 |
| Hold - Deutsche Bank | Overnight Price $5.10 | ||
| No Rating - Macquarie | Overnight Price $5.10 | ||
| Overweight - Morgan Stanley | Overnight Price $5.10 | ||
| Add - Morgans | Overnight Price $5.10 | ||
| Neutral - UBS | Overnight Price $5.10 | ||
| MYO - | MYOB | Buy - Citi | Overnight Price $3.69 |
| Upgrade to Neutral from Underperform - Credit Suisse | Overnight Price $3.69 | ||
| Buy - Deutsche Bank | Overnight Price $3.69 | ||
| Neutral - Macquarie | Overnight Price $3.69 | ||
| Buy - Ord Minnett | Overnight Price $3.69 | ||
| Neutral - UBS | Overnight Price $3.69 | ||
| NEC - | NINE ENTERTAINMENT | Outperform - Credit Suisse | Overnight Price $1.03 |
| Hold - Deutsche Bank | Overnight Price $1.03 | ||
| Underweight - Morgan Stanley | Overnight Price $1.03 | ||
| Neutral - UBS | Overnight Price $1.03 | ||
| OGC - | OCEANAGOLD | Buy - Citi | Overnight Price $3.95 |
| Outperform - Credit Suisse | Overnight Price $3.95 | ||
| Sell - UBS | Overnight Price $3.95 | ||
| OZL - | OZ MINERALS | Buy - Citi | Overnight Price $9.63 |
| Underperform - Credit Suisse | Overnight Price $9.63 | ||
| Sell - Deutsche Bank | Overnight Price $9.63 | ||
| Neutral - Macquarie | Overnight Price $9.63 | ||
| Hold - Ord Minnett | Overnight Price $9.63 | ||
| Buy - UBS | Overnight Price $9.63 | ||
| PPC - | PEET & COMPANY | Outperform - Macquarie | Overnight Price $1.06 |
| PPT - | PERPETUAL | Neutral - Citi | Overnight Price $50.60 |
| Neutral - Credit Suisse | Overnight Price $50.60 | ||
| Equal-weight - Morgan Stanley | Overnight Price $50.60 | ||
| Sell - UBS | Overnight Price $50.60 | ||
| PRU - | PERSEUS MINING | Neutral - Macquarie | Overnight Price $0.34 |
| PTM - | PLATINUM | Upgrade to Hold from Sell - Ord Minnett | Overnight Price $4.93 |
| QAN - | QANTAS AIRWAYS | Buy - Citi | Overnight Price $3.74 |
| Outperform - Credit Suisse | Overnight Price $3.74 | ||
| Buy - Deutsche Bank | Overnight Price $3.74 | ||
| Outperform - Macquarie | Overnight Price $3.74 | ||
| Overweight - Morgan Stanley | Overnight Price $3.74 | ||
| Buy - Ord Minnett | Overnight Price $3.74 | ||
| Buy - UBS | Overnight Price $3.74 | ||
| QUB - | QUBE HOLDINGS | Neutral - Credit Suisse | Overnight Price $2.35 |
| RCR - | RCR TOMLINSON | Outperform - Macquarie | Overnight Price $3.11 |
| REH - | Reece Australia | Buy - Citi | Overnight Price $43.10 |
| RHC - | RAMSAY HEALTH CARE | Neutral - Citi | Overnight Price $69.43 |
| Neutral - Credit Suisse | Overnight Price $69.43 | ||
| Equal-weight - Morgan Stanley | Overnight Price $69.43 | ||
| Add - Morgans | Overnight Price $69.43 | ||
| Accumulate - Ord Minnett | Overnight Price $69.43 | ||
| Neutral - UBS | Overnight Price $69.43 | ||
| RWC - | RELIANCE WORLDWIDE | Outperform - Macquarie | Overnight Price $2.84 |
| Hold - Morgans | Overnight Price $2.84 | ||
| Accumulate - Ord Minnett | Overnight Price $2.84 | ||
| SIQ - | SMARTGROUP | Upgrade to Neutral from Sell - Citi | Overnight Price $6.37 |
| Outperform - Credit Suisse | Overnight Price $6.37 | ||
| Hold - Morgans | Overnight Price $6.37 | ||
| SLM - | SALMAT | Neutral - Macquarie | Overnight Price $0.62 |
| SOM - | SOMNOMED | Upgrade to Add from Hold - Morgans | Overnight Price $3.19 |
| SXL - | SOUTHERN CROSS MEDIA | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $1.34 |
| Hold - Deutsche Bank | Overnight Price $1.34 | ||
| Underweight - Morgan Stanley | Overnight Price $1.34 | ||
| Neutral - UBS | Overnight Price $1.34 | ||
| SXY - | SENEX ENERGY | Outperform - Macquarie | Overnight Price $0.36 |
| TGR - | TASSAL GROUP | Upgrade to Outperform from Neutral - Credit Suisse | Overnight Price $4.83 |
| TME - | TRADE ME GROUP | Neutral - Citi | Overnight Price $4.74 |
| Underperform - Credit Suisse | Overnight Price $4.74 | ||
| Hold - Deutsche Bank | Overnight Price $4.74 | ||
| Neutral - Macquarie | Overnight Price $4.74 | ||
| Overweight - Morgan Stanley | Overnight Price $4.74 | ||
| TOX - | TOX FREE SOLUTIONS | Outperform - Macquarie | Overnight Price $2.26 |
| Overweight - Morgan Stanley | Overnight Price $2.26 | ||
| Reduce - Morgans | Overnight Price $2.26 | ||
| Hold - Ord Minnett | Overnight Price $2.26 | ||
| Neutral - UBS | Overnight Price $2.26 | ||
| VOC - | VOCUS COMMUNICATIONS | Downgrade to Neutral from Outperform - Credit Suisse | Overnight Price $4.60 |
| VVR - | VIVA ENERGY REIT | Buy - Deutsche Bank | Overnight Price $2.40 |
| Add - Morgans | Overnight Price $2.40 | ||
| WEB - | WEBJET | Outperform - Credit Suisse | Overnight Price $11.74 |
| Equal-weight - Morgan Stanley | Overnight Price $11.74 | ||
| Hold - Morgans | Overnight Price $11.74 | ||
| Accumulate - Ord Minnett | Overnight Price $11.74 | ||
| Downgrade to Neutral from Buy - UBS | Overnight Price $11.74 | ||
| WFD - | WESTFIELD CORP | Neutral - Citi | Overnight Price $8.90 |
| Underperform - Macquarie | Overnight Price $8.90 | ||
| Accumulate - Ord Minnett | Overnight Price $8.90 | ||
| Buy - UBS | Overnight Price $8.90 | ||
| WTC - | WISETECH GLOBAL | Neutral - Credit Suisse | Overnight Price $5.50 |
| XIP - | XENITH IP GROUP | Hold - Morgans | Overnight Price $1.97 |
RATING SUMMARY
| Rating | No. Of Recommendations |
| 1. Buy | 68 |
| 2. Accumulate | 6 |
| 3. Hold | 71 |
| 4. Reduce | 3 |
| 5. Sell | 25 |
Friday 24 February 2017
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