Ann: Change in substantial holding from PPT, page-2

EVT EVENT HOSPITALITY AND ENTERTAINMENT LTD

Travel, Leisure & Tourism – Overnight Price: $7.43

E.L. & C Baillieu rates ((EVT)) as Upgrade to Buy (1) –

Event Hospitality and Entertainment has withdrawn guidance for FY20 with covid-19 escalating. Broker Baillieu notes all cinemas operated by the company have been closed since March 23 with most employees stood down and major movies rescheduled to the next year.

The hospitality services provider's hotels had a good first half, but the broker reiterates the uncertainty from covid-19 and its impact on the second half.

Baillieu downgrades FY20 EPS forecast by -30% with dividend forecasts flat to FY21. Rating upgraded to Buy with target price at $9.35.

The report was published on March 31, 2020.

Target price is $9.35 Current Price is $7.43 Difference: $1.92
If EVT meets the E.L. & C Baillieu target it will return approximately 26% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY20:

E.L. & C Baillieu forecasts a full year FY20 dividend of 52.00 cents and EPS of 39.50 cents.
At the last closing share price the estimated dividend yield is 7.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 18.81.

Forecast for FY21:

E.L. & C Baillieu forecasts a full year FY21 dividend of 52.00 cents and EPS of 32.30 cents.
At the last closing share price the estimated dividend yield is 7.00%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.00.