KINA SECURITIES LIMITED (KSL)
Share Price Analysis and Chart

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KSL - KINA SECURITIES LIMITED

FNArena Sector : Wealth Management & Investments

Year End: December

GICS Industry Group : Diversified Financials

Debt/EBITDA: N/A

Index: ALL-ORDS

LAST PRICE	CHANGE +/-	CHANGE %	VOLUME
$0.80 27 Sep 2023	0.005 OPEN $0.79	0.63% HIGH $0.80	93,401 LOW $0.79

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$0.80

27 Sep
2023

0.005

OPEN

$0.79

0.63%

HIGH

$0.80

93,401

LOW

$0.79

TARGET

$1.09

36.3% upside

Franking for last dividend paid out: 0%

OTHER COMPANIES IN THE SAME SECTOR
AEF . AMP . ASX . AVC . BVS . CGF . CVW . ENN . GDC . GDG . GQG . HMC . HUB . IFL . IRE . JHG . KAM . LNK . MAF . MFG . MQG . NGI . NWL . PAC . PNI . PPS . PPT . PTM . QAL . RPL . RZI .

FNARENA'S MARKET CONSENSUS FORECASTS

12 Month Avg FX Values

Present FX Values

Original Currency

Title	FY23 Forecast	FY24 Forecast
EPS (cps)	36.0	xxx
DPS (cps)	8.6	xxx
EPS Growth	N/A	xxx
DPS Growth	N/A	xxx
PE Ratio	2.1	xxx
Dividend Yield	11.2%	xxx
Div Pay Ratio(%)	23.9%	xxx

Title	FY21 Actual	FY22 Actual	FY23 Forecast	FY24 Forecast
EPS (cps)	xxx	37.0	36.0	xxx
DPS (cps)	xxx	26.4	8.6	xxx
EPS Growth	xxx	10.4%	- 2.7%	xxx
DPS Growth	xxx	- 1.5%	- 67.4%	xxx
Div Pay Ratio(%)	xxx	71.4%	23.9%	xxx

This company reports in PGK.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 33.42%

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: 06/09 - ex-div 3.4c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD

Copyright © 2023 FactSet UK Limited. All rights reserved

Title	2017	2018	2019	2020	2021	2022
EPS Basic	xxx	xxx	xxx	xxx	xxx	16.6
DPS All	xxx	xxx	xxx	xxx	xxx	10.6
Sales/Revenue	xxx	xxx	xxx	xxx	xxx	166.5 M
Book Value Per Share	xxx	xxx	xxx	xxx	xxx	89.2
Net Operating Cash Flow	xxx	xxx	xxx	xxx	xxx	54.7 M
Net Profit Margin	xxx	xxx	xxx	xxx	xxx	28.68 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2017	2018	2019	2020	2021	2022
Return on Capital Employed	xxx	xxx	xxx	xxx	xxx	19.82 %
Return on Invested Capital	xxx	xxx	xxx	xxx	xxx	18.81 %
Return on Assets	xxx	xxx	xxx	xxx	xxx	2.77 %
Return on Equity	xxx	xxx	xxx	xxx	xxx	19.82 %
Return on Total Capital	xxx	xxx	xxx	xxx	xxx	22.98 %
Free Cash Flow ex dividends	xxx	xxx	xxx	xxx	xxx	16.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title	2017	2018	2019	2020	2021	2022
Short-Term Debt	xxx	xxx	xxx	xxx	xxx	10 M
Long Term Debt	xxx	xxx	xxx	xxx	xxx	12 M
Total Debt	xxx	xxx	xxx	xxx	xxx	23 M
Goodwill - Gross	xxx	xxx	xxx	xxx	xxx	39 M
Cash & Equivalents - Generic	xxx	xxx	xxx	xxx	xxx	291 M
Price To Book Value	xxx	xxx	xxx	xxx	xxx	0.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2017	2018	2019	2020	2021	2022
Capex	xxx	xxx	xxx	xxx	xxx	5.8 M
Capex % of Sales	xxx	xxx	xxx	xxx	xxx	3.47 %
Cost of Goods Sold	xxx	xxx	xxx	xxx	xxx	-
Selling, General & Admin. Exp & Other	xxx	xxx	xxx	xxx	xxx	41 M
Research & Development	xxx	xxx	xxx	xxx	xxx	-
Investments - Total	xxx	xxx	xxx	xxx	xxx	578 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Morgans	31/08/2023	1	Add	$1.09	36.25%	Following in-line 1H results for Kina Securities, Morgans assesses good cost controll in a difficult revenue environment and notes the result was impacted by a lift in the Papua New Guinean tax rate for banks to 45% from 30%. Despite solid 1H loan growth, revenue was well below the broker's forecast due to lower yields on treasury bills and government securities, and a decline in currency income on the previous corresponding period. General structural challenges are impacting the supply of foreign currency, and the analyst is unsure how long this headwind will persist. Morgans considers the stock too cheap and retains its Add rating. The target edges up to $1.09 from $1.08. FORECAST Morgans forecasts a full year FY23 dividend of 8.60 cents and EPS of 36.00 cents. Morgans forecasts a full year FY24 dividend of 10.40 cents and EPS of 43.20 cents.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Morgans

31/08/2023

Add

$1.09

36.25%

Following in-line 1H results for Kina Securities, Morgans assesses good cost controll in a difficult revenue environment and notes the result was impacted by a lift in the Papua New Guinean tax rate for banks to 45% from 30%.

Despite solid 1H loan growth, revenue was well below the broker's forecast due to lower yields on treasury bills and government securities, and a decline in currency income on the previous corresponding period.

General structural challenges are impacting the supply of foreign currency, and the analyst is unsure how long this headwind will persist.

Morgans considers the stock too cheap and retains its Add rating. The target edges up to $1.09 from $1.08.

FORECAST
Morgans forecasts a full year FY23 dividend of 8.60 cents and EPS of 36.00 cents.
Morgans forecasts a full year FY24 dividend of 10.40 cents and EPS of 43.20 cents.

Access Stockbroker Research History >

KSL STOCK CHART

FNArena News on KSL

1	FNArena Corporate Results Monitor – 31-08-2023 Aug 31 2023 - Australia

2	Rudi’s View: Fear & Greed (Rinse & Repeat) Mar 15 2023 - Rudi's View

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4	Rudi’s View: Woodside, REA, QBE, Appen & Megaport Sep 08 2022 - Rudi's View

5	FNArena Corporate Results Monitor – 30-08-2022 Aug 30 2022 - Australia

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Dividend Yield Today On Last Actual Payout :	34.29
Estimated Dividend Growth (Average Of Past Three Years)	%
Amount Invested	$
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KINA SECURITIES LIMITED (KSL)
Share Price Analysis and Chart