Australian Broker Call *Extra* Edition – 02 February 2022

Daily Market Reports | 12:06

Additional reporting on changes in recommendation, valuation, forecast and opinion for stocks listed on the ASX.

In addition to The Australian Broker Call Report, which is published and updated daily (Monday to Friday), FNArena has now added The Australian Broker Call *Extra* Edition, with additional sources of research and listed stock information on the ASX, also expanding the number of stocks that make up the FNArena universe.

A key difference is that the *Extra* edition will not be updated daily, but simply “regularly” based on the availability of appropriate quality content. As such, the *Extra* edition attempts to bridge the gap between daily updates via the Australian broker’s call report and ad-hoc news, which is not always timely for investors eager for the next information update.

Investors using the *Extra* edition as a source of data for their own market research should therefore take into account that information after publication may not be up to date, or wait for a further update by the team of FNArena journalists.

Similar to The Australian Broker Call Report, this *Extra* edition includes concise but limited reviews of recently published research by stock brokers and other experts, which should be viewed as information regarding likely market behavior rather than advice on the titles mentioned. Do not act on the contents of this report without first reading the important information included at the end of this report.

The Australian Broker Call *Extra* Edition is a summary that has been prepared independently from identified sources. Readers should check the full text of the recommendations and consult with a licensed adviser before making any investment decision.

The copyright of this report belongs to the publisher. Readers will not copy, transmit or distribute this report to anyone else. For more vital information on the sources included, see the bottom of this report.

COMPANIES MENTIONED IN THIS ISSUE

Click on a symbol for quick 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

TWE TRESORY WINE ESTATES LIMITED

Food, drink and tobacco – Price per night: $10.81

Jarden Rates ((TWE)) as Upgrade to Overweight from Neutral (2) –

With global wine supply and demand dynamics at their most favorable in more than five years, along with strong pricing power and margins, Jarden believes Treasury Wine Estates is well positioned to outperform relatively low market expectations.

While the broker notes short-term risk from supply chain constraints in the second half of the year, it likes the company’s premium portfolio bias and is focused on China expansion and investment in the country.

The rating changes from neutral to overweight and the target price moves from $11.60 to $12.70.

This report was published on January 27, 2022.

The target price is $12.70 The current price is $10.81 Difference: $1.89
Yes TWE reaches Jarden’s goal, he will return approximately 17% (excluding dividends, fees and charges).
The current consensus price target is $13.45, suggesting the reverse of 24.4%(excluding dividends)
The company’s fiscal year ends in June.

Forecast for FY22:

Jarden plans a full year EX22 dividend of 30.00 cents and EPS of 45.10 cents.
At the last closing price, the estimated dividend yield is 2.78%.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 23.97.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 44.2, which implies an annual growth of 27.5%.
The current DPS consensus estimate is 27.8, implying a prospective dividend yield of 2.6%.
The current consensus estimate of EPS suggests that PER is 24.5.

Forecast for FY23:

Jarden plans a full year EX23 dividend of 34.00 cents and EPS of 56.60 cents.
At the last closing price, the estimated dividend yield is 3.15%.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 19.10.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 54.3, which implies an annual growth of 22.9%.
The current DPS consensus estimate is 34.3, implying a prospective dividend yield of 3.2%.
The current consensus estimate of EPS suggests that PER is 19.9.

Market Sentiment: 0.8
All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources

TYR TYRO LIMITED PAYMENTS

Business & Consumer Credit – Overnight Price: $2.27

Wilsons Rate ((TYR)) as Coverage Initiation with Overweight (1) –

Wilsons is launching a hedge on Tyro Payments, Australia’s fifth-largest merchant acquirer by number of terminals, with an overweight rating and a target price of $3.03.

The broker believes that the company has built a strong position in the market by focusing over the past 20 years on the small and medium-sized market, which the big banks have ignored.

The company is focused on the healthcare, hospitality, retail and service/other sectors which are expected to see accelerated growth rates after the shutdowns, analysts suggest.

Negative regulatory changes to Australian payments are an ever-present risk noted by Wilsons.

This report was published on January 25, 2022.

The target price is $3.03 The current price is $2.27 Difference: $0.76
Yes Tire reaches Wilsons goal, he will return approximately 33% (excluding dividends, fees and charges).
The current consensus price target is $4.13, suggesting the reverse of 81.7%(excluding dividends)
The company’s fiscal year ends in June.

Forecast for FY22:

Wilsons plans a full year EX22 dividend of 0.00 cents and EPS of minus 2.90 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is minus 78.28.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is -1.5, which implies an annual growth of N / A.
The current DPS consensus estimate is N / A, implying a prospective dividend yield of N / A.
The current consensus estimate of EPS suggests that PER is N / A.

Forecast for FY23:

Wilsons plans a full year EX23 dividend of 0.00 cents and EPS of 0.80 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is 283.75.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is 0.9, which implies an annual growth of N / A.
The current DPS consensus estimate is N / A, implying a prospective dividend yield of N / A.
The current consensus estimate of EPS suggests that PER is 252.2.

Market Sentiment: 0.8
All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources

Z1P ZIP CO LIMITED

Business and consumer credit – Overnight price: $3.31

Shaw and Partners Rates ((Z1P)) as Purchase (1) –

After another quarter of growth across all metrics, Shaw and Partners notes that Zip Co closed the first half with a record annualized transaction value of $11 billion, representing a 30% increase quarter-on-quarter. the other.

Shaw and Partners is reducing its revenue forecast by -2% for fiscal years 22 and 23, which takes into account the reduction in average expenses and the cost of further market expansion. The target price is reduced in a context of sector consolidation and competition, in line with the fall in sector multiples.

The buy rating is maintained and the target price is down -30% to $11.25.

This report was published on January 21, 2022.

The target price is $11.25 The current price is $3.31 Difference: $7.94
Yes Z1P achieves the Shaw and Partners goal, it will earn approximately 240% (excluding dividends, fees and charges).
The current consensus price target is $5.16, suggesting the reverse of 59.2%(excluding dividends)
The company’s fiscal year ends in June.

Forecast for FY22:

Shaw and Partners expects a full year EX22 dividend of 0.00 cents and EPS of minus 10.60 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is minus 31.23.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is -24.7, which implies an annual growth of N / A.
The current DPS consensus estimate is N / A, implying a prospective dividend yield of N / A.
The current consensus estimate of EPS suggests that PER is N / A.

Forecast for FY23:

Shaw and Partners expects a full year AF23 dividend of 0.00 cents and EPS of minus 1.20 cents.
At the last closing price, the estimated price/earnings ratio (PER) of the stock is minus 275.83.

How do these forecasts compare to consensus market projections?

The current consensus estimate of EPS is -11.1, which implies an annual growth of N / A.
The current DPS consensus estimate is N / A, implying a prospective dividend yield of N / A.
The current consensus estimate of EPS suggests that PER is N / A.

Market Sentiment: 0.1
All consensus data is updated to yesterday. FNArena consensus calculations require a minimum of three sources


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