LENDLEASE GROUP (LLC)
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LLC - LENDLEASE GROUP

FNArena Sector : Infra & Property Developers
Year End: June
GICS Industry Group : Real Estate
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Lendlease Group is a multinational construction, property and infrastructure company originally founded in 1958 and listed on the ASX in 1962.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$12.17

30 Jul
2021

-0.030

OPEN

$12.07

-0.25%

HIGH

$12.28

1,473,836

LOW

$12.07

TARGET
$13.243 8.8% upside
Franking for last dividend paid out: 37%
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FNARENA'S MARKET CONSENSUS FORECASTS
LLC: 1
Title FY19
Actual
FY20
Actual
FY21
Forecast
FY22
Forecast
EPS (cps) xxx - 51.8 58.6 xxx
DPS (cps) xxx 33.3 28.9 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx - 20.8% - 13.0% xxx
PE Ratio xxx N/A 20.8 xxx
Dividend Yield xxx N/A 2.4% xxx
Div Pay Ratio(%) xxx N/A 49.4% xxx

Dividend yield today if purchased 3 years ago: 1.64%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

2.73

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: 26/02 - 15c (37%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2021 FactSet UK Limited. All rights reserved
Title 201520162017201820192020
EPS Basic xxxxxxxxxxxxxxx-51.8
DPS All xxxxxxxxxxxxxxx33.3
Sales/Revenue xxxxxxxxxxxxxxx11,939.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,009.8
Net Operating Cash Flow xxxxxxxxxxxxxxx137.0 M
Net Profit Margin xxxxxxxxxxxxxxx-2.86 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

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EXPERT VIEWS
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Sentiment Indicator

0.5

No. Of Recommendations

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

Macquarie

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3

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xx.xx%

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xxx

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UBS

02/07/2021

1

Buy

$13.00

6.82%

Lendlease has missed FY21 consensus net profit estimates of $469m, and the guidance range of $375m to $410m still falls slightly short of UBS at $416m.

At first glance, UBS notes today’s announcement left little clarity around FY22 profit drivers, given substantial deals still closed in FY21.

The broker sees several potential new deals such as Capella reaching financial close on the North East Tunnelling project, and build-to-rent at Melbourne Quarter, plus overhead reductions.

In moving One Sydney Harbour to FY21, the broker reduces FY22 earnings estimates -17% to $559m.

In later years, FY23 to FY25, UBS has reduced forecasts by around -3% reflecting some deferrals. However, the broker expects the Google project and Barangaroo settlements to drive growth.

UBS sees a 3-year net profit compound annual growth rate of 12% from the base of the broker's revised FY22 net profit forecast.

The broker notes while FY22 remains a transition year, Lendlease's latest profit warning has shown there is persistent earnings risk across the business.

UBS maintains a Buy rating and a target price of $13.00.

FORECAST
UBS forecasts a full year FY21 dividend of 29.40 cents and EPS of 58.60 cents.
UBS forecasts a full year FY22 dividend of 40.60 cents and EPS of 81.20 cents.

Credit Suisse

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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LLC STOCK CHART