IGO - INDEPENDENCE GROUP NL Deutsche Bank rates IGO as Buy (1) -...

IGO - INDEPENDENCE GROUP NL

Deutsche Bank rates IGO as Buy (1) - Independence' result had been pre-released so no surprises. Better than expected operating cash flow was offset by higher development costs at Nova, the broker notes.

FY18 production guidance is unchanged, with Nova expected to reach nameplate next month. The broker retains Buy and a $3.80 target, highlighting the quality of the Tropicana and Nova assets.
Target price is $3.80 Current Price is $3.42 Difference: $0.38 If IGO meets the Deutsche Bank target it will return approximately 11% (excluding dividends, fees and charges). Current consensus price target is $3.50, suggesting upside of 2.2%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY18:
Deutsche Bank forecasts a full year FY18 dividend of 6.00 cents and EPS of 19.00 cents .At the last closing share price the estimated dividend yield is 1.75%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.00. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 26.4, implying annual growth of N/A.Current consensus DPS estimate is 7.8, implying a prospective dividend yield of 2.3%.Current consensus EPS estimate suggests the PER is 13.0.Forecast for FY19:
Deutsche Bank forecasts a full year FY19 dividend of 10.00 cents and EPS of 34.00 cents .At the last closing share price the estimated dividend yield is 2.92%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.06. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.6, implying annual growth of 19.7%.Current consensus DPS estimate is 11.0, implying a prospective dividend yield of 3.2%.Current consensus EPS estimate suggests the PER is 10.8.
Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources