CODAN LIMITED (CDA)
Share Price Analysis and Chart

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CDA - CODAN LIMITED

FNArena Sector : Hardware & Equipment

Year End: June

GICS Industry Group : Technology Hardware & Equipment

Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Codan is an Australian manufacturer and supplier of communications, metal detection and mining technology. Founded in 1959, the company listed on the ASX in 2003. Its core clientele are gold prospectors in Africa.

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$18.12 15 Apr 2021	0.860 OPEN $17.35	4.98% HIGH $18.19	1,047,452 LOW $17.34

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$18.12

15 Apr
2021

0.860

OPEN

$17.35

4.98%

HIGH

$18.19

1,047,452

LOW

$17.34

TARGET
$17.00 -6.2% downside
Franking for last dividend paid out: 100%

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ALU . CSV . LGD . SDA . TZL . PVS . CRW . WBT . AD8 . AKP . SEN . RVS . BLG . DDR . EOS . 4DS . HTG . SLX .

FNARENA'S MARKET CONSENSUS FORECASTS

Title	FY19 Actual	FY20 Actual	FY21 Forecast	FY22 Forecast
EPS (cps)	xxx	35.5	49.7	xxx
DPS (cps)	xxx	18.5	25.0	xxx
EPS Growth	xxx	39.0%	40.1%	xxx
DPS Growth	xxx	32.1%	35.1%	xxx
PE Ratio	xxx	N/A	36.6	xxx
Dividend Yield	xxx	N/A	1.4%	xxx
Div Pay Ratio(%)	xxx	52.2%	50.3%	xxx

Dividend yield today if purchased 3 years ago: 7.49%

DIVIDEND YIELD CALCULATOR

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: 24/02 - 10.5c (100%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2021 FactSet UK Limited. All rights reserved

Title	2015	2016	2017	2018	2019	2020
EPS Basic	xxx	xxx	xxx	xxx	xxx	35.5
DPS All	xxx	xxx	xxx	xxx	xxx	18.5
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	348 M

EPS Basic

DPS All

Sales/Revenue

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

EXPERT VIEWS

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Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Macquarie	06/04/2021	1	Outperform	$17.00	-6.18%	Codan has acquired Zetron for US$45m. Macquarie considers the acquisition a good strategic move as it adds scale in a complementary segment with an attractive end market. Meanwhile, GPX6000 has been launched and the broker notes Codan has previously entered a strong upgrade cycle post the launch of a major new gold detector. The share price has run hard yet Macquarie is positive about the prospect of new products and potential for additional revenue synergies from acquisitions. Outperform retained. Target rises to $17.00 from $16.20. FORECAST Macquarie forecasts a full year FY21 dividend of 25.00 cents and EPS of 49.70 cents. Macquarie forecasts a full year FY22 dividend of 31.00 cents and EPS of 61.80 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Macquarie

06/04/2021

Outperform

$17.00

-6.18%

Codan has acquired Zetron for US$45m. Macquarie considers the acquisition a good strategic move as it adds scale in a complementary segment with an attractive end market.

Meanwhile, GPX6000 has been launched and the broker notes Codan has previously entered a strong upgrade cycle post the launch of a major new gold detector.

The share price has run hard yet Macquarie is positive about the prospect of new products and potential for additional revenue synergies from acquisitions. Outperform retained. Target rises to $17.00 from $16.20.

FORECAST
Macquarie forecasts a full year FY21 dividend of 25.00 cents and EPS of 49.70 cents.
Macquarie forecasts a full year FY22 dividend of 31.00 cents and EPS of 61.80 cents.

Access Stockbroker Research History >

CDA STOCK CHART

FNArena News on CDA

1	Australian Broker Call Extra Edition – Apr 14, 2021 Apr 14 2021 - Daily Market Reports

2	Codan To The Fore In Critical Communications Apr 08 2021 - Australia

3	Australian Broker Call Extra Edition – Mar 04, 2021 Mar 04 2021 - Daily Market Reports

4	February In Review: ASX Rises Five Consecutive Months Mar 04 2021 - Australia

5	Rudi’s View: A February For The Record Books Mar 04 2021 - Rudi's View

Latest Hardware & Equipment News

1	Codan To The Fore In Critical Communications Apr 08 2021 - Australia

2	Resounding Comeback For Audinate Feb 23 2021 - Small Caps

3	Improved Confidence Yet To Play For Altium Feb 16 2021 - Australia

4	Audinate Forging The Future Oct 19 2020 - Australia

5	Audinate Set To Rally Sep 15 2020 - Technicals

6	Australian Broker Call Extra Edition – Sep 07, 2020 Sep 07 2020 - Daily Market Reports

7	Gold Bugs Heighten Demand For Codan Aug 25 2020 - Small Caps

8	Treasure Chest: Concerns Surface For Altium Aug 03 2020 - Treasure Chest

9	Audinate Signals Resilience Jul 20 2020 - Small Caps

10	Positive Trajectory Continues For Altium Jul 15 2020 - Australia

Dividend Yield Today On Last Actual Payout :	1.02
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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CODAN LIMITED (CDA)
Share Price Analysis and Chart