INCITEC PIVOT LIMITED (IPL)
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IPL - INCITEC PIVOT LIMITED

FNArena Sector : Agriculture
Year End: September
GICS Industry Group : Materials
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Incitec Pivot is an Australian manufacturer of fertilisers and explosives chemicals. It is the largest supplier of fertilisers in Australia and the largest supplier of explosives in the US and Canada. The company was listed in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.68

05 Aug
2022

0.010

OPEN

$3.69

0.27%

HIGH

$3.70

6,110,850

LOW

$3.64

TARGET
$4.063 10.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
CGC . ELD . GNC . NUF . RHL . RIC . SHV . TFC . APC . AAC . MWY . MRG . NAM . AMN . WLD . CBO . SGL . SGLLV . D2O . UMG . TFL . HFR . LGL .
FNARENA'S MARKET CONSENSUS FORECASTS
IPL: 1
Title FY20
Actual
FY21
Actual
FY22
Forecast
FY23
Forecast
EPS (cps) xxx 7.7 53.6 xxx
DPS (cps) xxx 9.3 27.7 xxx
EPS Growth xxx 7.9% 100.0% xxx
DPS Growth xxx N/A 100.0% xxx
PE Ratio xxx N/A 6.9 xxx
Dividend Yield xxx N/A 7.5% xxx
Div Pay Ratio(%) xxx 121.1% 51.6% xxx

Dividend yield today if purchased 3 years ago: 2.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.53

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 06/06 - ex-div 10c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2022 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx7.7
DPS All xxxxxxxxxxxxxxx9.3
Sales/Revenue xxxxxxxxxxxxxxx4,348.5 M
Book Value Per Share xxxxxxxxxxxxxxx276.4
Net Operating Cash Flow xxxxxxxxxxxxxxx650.2 M
Net Profit Margin xxxxxxxxxxxxxxx3.43 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Capital Employed xxxxxxxxxxxxxxx2.82 %
Return on Invested Capital xxxxxxxxxxxxxxx2.06 %
Return on Assets xxxxxxxxxxxxxxx1.60 %
Return on Equity xxxxxxxxxxxxxxx2.82 %
Return on Total Capital xxxxxxxxxxxxxxx6.37 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx275.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

This is work in progress. Bear with us. It'll be amazing.

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.5

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

07/06/2022

3

Downgrade to Hold from Accumulate

$3.90

5.98%

First half net profit at $384m was sharply ahead of the prior corresponding half's $36m. This highlighted strong leverage to a rising commodity environment, Ord Minnett suggests.

The share price may have lagged commodity prices in the current cycle because of the operating issues at Waggaman, yet the broker considers earnings momentum has peaked given the recent trajectory of fertiliser prices.

Ord Minnett also suspects uncertainty created by a plan to spin off the explosives segment may weigh on the share price. Rating is downgraded to Hold from Accumulate and the target raised to $3.90 from $3.50.

This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.

FORECAST
Ord Minnett forecasts a full year FY22 dividend of 29.00 cents and EPS of 54.00 cents.
Ord Minnett forecasts a full year FY23 dividend of 24.00 cents and EPS of 47.00 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Credit Suisse

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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IPL STOCK CHART