BORAL LIMITED (BLD)
Share Price Analysis and Chart

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BLD - BORAL LIMITED

FNArena Sector : Building Products & Services
Year End: June
GICS Industry Group : Materials
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Boral is a multinational company manufacturing and supplying building and construction materials. It has significant operations in the US, Asia and Australia. Its current listing stems from 2000 when the company sold its tyre business and spun off its energy assets as Origin Energy.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.03

25 Jan
2021

-0.090

OPEN

$5.11

-1.76%

HIGH

$5.14

1,588,244

LOW

$5.01

TARGET
$5.24 4.2% upside
Franking for last dividend paid out: 50%
OTHER COMPANIES IN THE SAME SECTOR
ABC . BKW . CSR . JHX . WGN . FBR . MGH . ACF . FBU . RWC . ITG . JLG . SRG .
MARKET CONSENSUS FORECAST
BLD: 1
Title FY19
Actual
FY20
Actual
FY21
Forecast
FY22
Forecast
EPS (cps) xxx - 95.3 19.9 xxx
DPS (cps) xxx 9.5 4.7 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 64.2% - 50.9% xxx
PE Ratio xxx N/A 25.3 xxx
Dividend Yield xxx N/A 0.9% xxx
Div Pay Ratio(%) xxx N/A 23.5% xxx

Dividend yield today if purchased 3 years ago: 1.20%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

1.89

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: 13/03 - 9.5c (50%)

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgan Stanley

xx/xx/xxxx

1

xxxxxxx xx xxxxxxxxxx xxxx xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

29/10/2020

1

Buy

$5.30

5.37%

While the multiple on sale of the 50% stake in Boral's USG joint venture appears attractive, when adjusted for the broker's earnings forecasts it is more in line with valuation, and roughly in line for what USG paid for its stake in 2013.

Management is yet to settle on a capital plan from here but the pay-down of debt will be required to reduce leverage and satisfy ratings agencies. It's longer maturity debt nevertheless, so the broker sees no rush.

As the broker points out, there will still be money left over for investment and/or capital return, and if Boral sells its US building products business next year, more so.

Buy and $5.30 target retained.

FORECAST
Citi forecasts a full year FY21 dividend of 0.00 cents and EPS of 14.40 cents.
Citi forecasts a full year FY22 dividend of 15.50 cents and EPS of 22.10 cents.

Macquarie

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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Credit Suisse

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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