Macquarie rates AHY as Outperform (1) - The broker has reviewed its numbers on Asaleo ahead of its result next month. While the broker expects a good result it notes A$ weakness acts as a headwind, Hence FY15-16 earnings forecasts have been trimmed and the target drops to $2.00 from $2.15.
The broker nevertheless sees continued steady growth and believes the A$ impact is well priced in. Outperform retained.
Target price is $2.00 Current Price is $1.68 Difference: $0.325 If AHY meets the Macquarie target it will return approximately 19% (excluding dividends, fees and charges).
The company's fiscal year ends in December. Macquarie forecasts a full year FY14 dividend of 4.80 cents and EPS of 11.70 cents . At the last closing share price the estimated dividend yield is 2.87%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.32.
Market Sentiment: 0.7
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.7, implying annual growth of 14.5%.Current consensus DPS estimate is 4.9, implying a prospective dividend yield of 2.9%.Current consensus price target is $ 1.97, suggesting upside of 17.4%(ex-dividends).Current consensus EPS estimate suggests the PER is 14.3.
AHY Price at posting:
$1.68 Sentiment: Hold Disclosure: Held
