Ord Minnett rates SXY as Buy (1) -March quarter production was broadly in line with Ord Minnett's estimates. The broker found nothing surprising in the result but it did underscore a positive view on Senex Energy.Management confirmed the business is now net cash, which will support its growth objectives. As the stock offers good value and strong growth with a solid balance sheet Ord Minnett reiterates a Buy rating and a $3.90 target.This stock is not covered in-house by Ord Minnett. Instead, the broker whitelabels research by JP Morgan.Target price is $3.90 Current Price is $3.15 Difference: $0.75If SXY meets the Ord Minnett target it will return approximately 24% (excluding dividends, fees and charges).Current consensus price target is $3.77, suggesting upside of 19.7% (ex-dividends)The company's fiscal year ends in June.Forecast for FY21:Ord Minnett forecasts a full year FY21 EPS of 8.00 cents.At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.38.How do these forecasts compare to market consensus projections?Current consensus EPS estimate is 10.6, implying annual growth of N/A.Current consensus DPS estimate is 8.7, implying a prospective dividend yield of 2.8%.Current consensus EPS estimate suggests the PER is 29.7.Forecast for FY22:Ord Minnett forecasts a full year FY22 EPS of 23.00 cents.At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.70.How do these forecasts compare to market consensus projections?Current consensus EPS estimate is 24.3, implying annual growth of 129.2%.Current consensus DPS estimate is 6.4, implying a prospective dividend yield of 2.0%.Current consensus EPS estimate suggests the PER is 13.0.
SXY Price at posting:
$3.12 Sentiment: Buy Disclosure: Held
