An additional news report on the recommendation, valuation, forecast and opinion changes for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
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Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
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COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ABR ASM CDA CIA CYG GMA KGN LME LPD MHJ PBH RSG TWE TYR Z1P
ABR
Industrial Metals - Overnight Price:
The revocation is likely to exacerbate an already tight global boron supply/demand balance, according to the analyst.
This report was published on
Target price is
If ABR meets the
The company's fiscal year ends in June.
Forecast for FY22:
Petra Capital forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 1.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 154.00.
Forecast for FY23:
Petra Capital forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 192.50.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ASM
Rare Earth Minerals - Overnight Price:
While
The analyst notes a consortium, which aims to find a stragic investor to partner with the company, has successfully completed due diligence on the flagship
This report was published on
Target price is
If ASM meets the
The company's fiscal year ends in June.
Forecast for FY22:
Petra Capital forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 3.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 225.38.
Forecast for FY23:
Petra Capital forecasts a full year FY23 dividend of 0.00 cents and EPS of 10.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 84.52.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CDA
Hardware & Equipment - Overnight Price:
Moelis rates ((CDA)) as Buy (1) -
Ahead of the release of Codan's first half results, Moelis notes guidance for profit after tax of around
The company commented both DTC and Zetron exceeded first half profit expectations. Moelis suggests investors should expect a slight second half weighting as Codan delivers its large military contract and seasonal metal detection tailwinds provide benefit.
The Buy rating is retained and the target price decreases to
This report was published on
Target price is
If CDA meets the Moelis target it will return approximately 43% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Moelis forecasts a full year FY22 dividend of 32.80 cents and EPS of 59.70 cents.
At the last closing share price the estimated dividend yield is 3.49%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.73.
Forecast for FY23:
Moelis forecasts a full year FY23 dividend of 35.00 cents and EPS of 63.70 cents.
At the last closing share price the estimated dividend yield is 3.73%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.74.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CIA
Iron Ore - Overnight Price:
Goldman Sachs rates ((CIA)) as Buy (1) -
Higher than anticipated iron ore prices and lower unit costs drove Champion Iron to deliver 40% uplift to Goldman Sachs' December quarter earnings forecast. Results drove improved cash flow, and the company announced a
Given a tight market, ongoing supply constraints and a bounce in iron spot pricing in the March quarter,
First production from the
The Buy rating is retained and the target price increases to
This report was published on
Target price is
If CIA meets the Goldman Sachs target it will return approximately 12% (excluding dividends, fees and charges).
The company's fiscal year ends in March.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 10.69 cents and EPS of 101.56 cents.
At the last closing share price the estimated dividend yield is 1.69%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.24.
Forecast for FY23:
Goldman Sachs forecasts a full year FY23 dividend of 33.03 cents and EPS of 72.70 cents.
At the last closing share price the estimated dividend yield is 5.21%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 8.72.
This company reports in CAD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CYG
Hardware & Equipment - Overnight Price:
Ahead of the release of full first half results
Restrictions in
Earnings per share forecasts increase 5.0%, 4.6% and 4.2% through to FY24 as earnings improvement through ongoing turnaround continues.
The Buy rating is retained and the target price increases to
This report was published on
Target price is
If CYG meets the
The company's fiscal year ends in June.
Forecast for FY22:
Shaw and Partners forecasts a full year FY22 dividend of 6.00 cents and EPS of 11.60 cents.
At the last closing share price the estimated dividend yield is 3.43%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.09.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 8.00 cents and EPS of 16.00 cents.
At the last closing share price the estimated dividend yield is 4.57%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.94.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GMA
Banks - Overnight Price:
Goldman Sachs rates ((GMA)) as Buy (1) -
While the broker previously noted a loss of the contract would drive only a small valuation impact, it highlights today that confirmation of the contract reaffirms earnings outlook, supports company strategy, and offers portfolio return on investment.
The Buy rating and target price of
This report was published on
Target price is
If GMA meets the Goldman Sachs target it will return approximately 33% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY21:
Goldman Sachs forecasts a full year FY21 dividend of 16.00 cents and EPS of 41.00 cents.
At the last closing share price the estimated dividend yield is 6.45%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 6.05.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 34.00 cents and EPS of 44.00 cents.
At the last closing share price the estimated dividend yield is 13.71%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 5.64.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
KGN
Retailing - Overnight Price:
Jarden rates ((KGN)) as Sell (5) -
In an early look at first half results,
The update also highlighted continuing cost pressure for the company, with supply chain disruptions and elevated costs impacting on earnings. Jarden finds the earnings outlook uncertain, and notes Australian online retail competition continues to intensify.
The Underweight rating and target price of
This report was published on
Target price is
If KGN meets the Jarden target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 0.00 cents and EPS of 17.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 37.31.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 16.00 cents and EPS of 27.50 cents.
At the last closing share price the estimated dividend yield is 2.51%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.20.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LME LIMEADE, INC
Cloud services - Overnight Price:
Moelis rates ((LME)) as Buy (1) -
In the wake of Limeade's 4Q update, Moelis lowers estimated 2022 sales to reflect a lower estimates for contracted annual recurring revenue (CARR) and forecast net revenue retention (NRR).
FY21 guidance was maintained and despite challenging conditions, commentary centred on signs of returning customer demand.
The Buy rating is retained, while the target price falls to
This report was published on
Target price is
If LME meets the Moelis target it will return approximately 84% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY21:
Moelis forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 4.15 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 10.36.
Forecast for FY22:
Moelis forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 4.69 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.17.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
LPD
New Battery Elements - Overnight Price:
On spot lithium pricing of over
The company has signed a binding offtake agreement with Traxys for 100% of its lithium and caesium sulphate production, sourced from mica minerals in a what is a new source of lithium supply.
Spot pricing, licensing agreements and a phase 2 plant all offer upside to the broker's currently conservative valuation.
The Buy rating and target price of
This report was published on
Target price is
If LPD meets the
The company's fiscal year ends in June.
Forecast for FY21:
Shaw and Partners forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 40.00.
Forecast for FY22:
Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 0.10 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 40.00.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
MHJ
Luxury - Overnight Price:
Jarden rates ((MHJ)) as Downgrade to Overweight from Buy (2) -
The broker highlights this result looks achievable even against a backdrop of lockdown restrictions and a -7% smaller store base, and is testament to a focus on store productivity improvement. Earnings per share forecasts increase 47%, 24% and 33% through to FY24.
The rating is downgraded to Overweight from Buy and the target price increases to NZ$1.45 from NZ$1.15.
This report was published on
Current Price is
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 8.50 cents and EPS of 12.00 cents.
At the last closing share price the estimated dividend yield is 6.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.58.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 8.50 cents and EPS of 11.20 cents.
At the last closing share price the estimated dividend yield is 6.12%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.41.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
PBH
Gaming - Overnight Price:
JP Morgan rates ((PBH)) as Downgrade to Underweight from Neutral (5) -
JP Morgan is concerned about losses associated with PointsBet Holdings entering 12 additional states this year.
The rating is lowered to Underweight from Neutral, while the price target falls to
Customer growth will come at a significant cost, and the analyst notes the likelihood of a capital raising later in the year.
This report was published on
Target price is
If PBH meets the JP Morgan target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss).
The company's fiscal year ends in June.
Forecast for FY22:
JP Morgan forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 60.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 8.62.
Forecast for FY23:
JP Morgan forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 55.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 9.40.
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
RSG
Gold & Silver - Overnight Price:
Goldman Sachs rates ((RSG)) as Buy (1) -
Production was driven by better grades at Mako in West Arfica and Syama Oxide processing plant in
FY22 guidance for gold production and all in sustaining costs (AISC) were a 4% beat and -16% miss, respectively, on the broker's estimates. The target price eases by -8% to
This report was published on
Target price is
If RSG meets the Goldman Sachs target it will return approximately 114% (excluding dividends, fees and charges).
The company's fiscal year ends in December.
Forecast for FY21:
Goldman Sachs forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 4.29 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 6.53.
Forecast for FY22:
Goldman Sachs forecasts a full year FY22 dividend of 0.00 cents and EPS of 0.54 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 52.24.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TWE
Food, Beverages & Tobacco - Overnight Price:
Jarden rates ((TWE)) as Upgrade to Overweight from Neutral (2) -
With global wine supply and demand dynamics at their most favourable in more than five years, as well as company pricing power and high margins, Jarden finds
While the broker notes some near-term risk relating to supply chain constraint in the second half, it likes the company's premium portfolio skew and focus on in-country
The rating is upgraded to Overweight from Neutral and the target price increases to
This report was published on
Target price is
If TWE meets the Jarden target it will return approximately 17% (excluding dividends, fees and charges).
Current consensus price target is
The company's fiscal year ends in June.
Forecast for FY22:
Jarden forecasts a full year FY22 dividend of 30.00 cents and EPS of 45.10 cents.
At the last closing share price the estimated dividend yield is 2.78%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.97.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 44.2, implying annual growth of 27.5%.
Current consensus DPS estimate is 27.8, implying a prospective dividend yield of 2.6%.
Current consensus EPS estimate suggests the PER is 24.5.
Forecast for FY23:
Jarden forecasts a full year FY23 dividend of 34.00 cents and EPS of 56.60 cents.
At the last closing share price the estimated dividend yield is 3.15%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.10.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 54.3, implying annual growth of 22.9%.
Current consensus DPS estimate is 34.3, implying a prospective dividend yield of 3.2%.
Current consensus EPS estimate suggests the PER is 19.9.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
TYR
Business & Consumer Credit - Overnight Price:
Wilsons rates ((TYR)) as Initiation of coverage with Overweight (1) -
Wilsons initiates coverage on Tyro Payments, Australia's fifth largest merchant acquirer by terminal count, with an Overweight rating and
The broker feels the company has built an entrenched market position by focusing for the last 20 years on the small-to-medium business/enterprise market, which the major banks have ignored.
The company is concentrated on the sectors of Health, Hospitality, Retail, and Services/Other that are likely to experience accelerated growth rates after lockdowns, suggest the analysts.
Negative regulatory changes to Australian Payments is an ever-present risk noted by Wilsons.
This report was published on
Target price is
If TYR meets the Wilsons target it will return approximately 33% (excluding dividends, fees and charges).
Current consensus price target is
The company's fiscal year ends in June.
Forecast for FY22:
Wilsons forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 2.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 78.28.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -1.5, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY23:
Wilsons forecasts a full year FY23 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 283.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 0.9, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 252.2.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Z1P
Business & Consumer Credit - Overnight Price:
Following another quarter of growth across all metrics,
The Buy rating is retained and the target price decreased -30% to
This report was published on
Target price is
If Z1P meets the
Current consensus price target is
The company's fiscal year ends in June.
Forecast for FY22:
Shaw and Partners forecasts a full year FY22 dividend of 0.00 cents and EPS of minus 10.60 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 31.23.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -24.7, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY23:
Shaw and Partners forecasts a full year FY23 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 275.83.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -11.1, implying annual growth of N/A.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is N/A.
Market Sentiment: 0.1
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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