SKYCITY ENTERTAINMENT GROUP LIMITED (SKC)
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SKC - SKYCITY ENTERTAINMENT GROUP LIMITED

FNArena Sector : Gaming
Year End: June
GICS Industry Group : Consumer Services
Index: ASX200 | ASX300 | ALL-ORDS

Auckland-based SkyCity owns and operates five casinos in New Zealand (4) and Australia (Adelaide). It was founded in 1996 and listed on the ASX in 1999. It is also listed on the NZX.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$3.10

24 Sep
2021

0.000

OPEN

$3.10

0.000

HIGH

$3.15

212,710

LOW

$3.10

TARGET
$3.20 3.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
JIN . AGI . ALL . CWN . EGP . TAH . TTS . SGR . PBH . BET . PLY .
FNARENA'S MARKET CONSENSUS FORECASTS
SKC: 1
Title FY22
Forecast
FY23
Forecast
EPS (cps) 13.9 xxx
DPS (cps) 10.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 22.3 xxx
Dividend Yield 3.4% xxx
Div Pay Ratio(%) 76.1% xxx
This company reports in NZD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 2.12%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.47

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: 16/09 - 6.9c (0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2021 FactSet UK Limited. All rights reserved
Title 201620172018201920202021
EPS Basic xxxxxxxxxxxxxxx19.1
DPS All xxxxxxxxxxxxxxx7.7
Sales/Revenue xxxxxxxxxxxxxxx630.0 M
Book Value Per Share xxxxxxxxxxxxxxx203.0
Net Operating Cash Flow xxxxxxxxxxxxxxx234.8 M
Net Profit Margin xxxxxxxxxxxxxxx23.06 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201620172018201920202021
Return on Assets xxxxxxxxxxxxxxx5.57 %
Return on Equity xxxxxxxxxxxxxxx10.10 %
Return on Total Capital xxxxxxxxxxxxxxx6.52 %
Capex xxxxxxxxxxxxxxx165.2 M
Capex % of Sales xxxxxxxxxxxxxxx26.22 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx75.1 M

Return on Assets

Return on Equity

Return on Total Capital

Capex

Capex % of Sales

Free Cash Flow ex dividends

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EXPERT VIEWS
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Sentiment Indicator

0.7

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Credit Suisse

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Macquarie

04/06/2021

1

Outperform

-

-

Macquarie estimates a pathway to NZ$400m earnings (EBITDA) in the next four years, implying 5% average annual growth, from the NZ$303m reported in FY19. This was calculated on a pre-covid and continuing-operations basis.

The broker also highlights the potential for capital management within two-years, given leverage drops to appropriate levels in FY23, and may involve buybacks. It's considered M&A is unlikely.

SkyCity holds long-term exclusive licences with SkyCity Auckland, representing more than 70% of earnings, and as such, the analyst doesn't foresee competition risk. However, there is considered risk of a change in New Zealand’s gaming tax rate.

Macquarie retains its Outperform rating with the price target rising to NZ$4.05 from NZ$3.75.

FORECAST
Macquarie forecasts a full year FY22 dividend of 12.11 cents and EPS of 15.18 cents.

UBS

xx/xx/xxxx

1

xxx

-

xx.xx%

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SKC STOCK CHART