Ann: Half Year Results Presentation, page-37

This commentary from CommSec:



Public Companies and Institutions own 64.8% so liquidity is an issue.
I doubt it will breach its all time low since demerger 18 months ago. Provisioning for bad debts and Inventory losses would be priced in.

This report from FNArena Broker Call has consensus price target $4.75

UMG UNITED MALT GROUP LIMITED

Agriculture - Overnight Price: $4.16

Bell Potter rates ((UMG)) as Hold (3) -

United Malt Group issued a trading update for the FY21 second half, reporting shipping delays to Asia, lockdowns and unrecoverable debt inventories.

The company guided to lower earnings (roughly -6.5% according to Bell Potters' estimates).

United Malt Group reported a -$20m to -$22m bad debt against one client in Asia and -$4 to -$6m bad debt against an insolvent grain supplier.

Bell Potter notes the impairment, at -1% to -2% of processing revenue, is material and will require replacement in FY22.

Profit forecasts are downgraded -32% for FY21 (ending September 30); -17% for FY22 and -1% for FY23, the broker factoring in a slower than expected recovery. EPS and dividend impacts are felt more keenly in FY22.

Hold rating maintained. Target price eases to $4.40 from $4.60.

This report was published on September 3, 2021.

Target price is $4.40 Current Price is $4.16 Difference: $0.24
If UMG meets the Bell Potter target it will return approximately 6% (excluding dividends, fees and charges).
Current consensus price target is $4.75, suggesting upside of 14.1%(ex-dividends)
The company's fiscal year ends in September.

Forecast for FY21:

Bell Potter forecasts a full year FY21 dividend of 7.00 cents and EPS of 13.30 cents.
At the last closing share price the estimated dividend yield is 1.68%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.28.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 12.4, implying annual growth of -26.5%.
Current consensus DPS estimate is 7.5, implying a prospective dividend yield of 1.8%.
Current consensus EPS estimate suggests the PER is 33.5.

Forecast for FY22:

Bell Potter forecasts a full year FY22 dividend of 10.00 cents and EPS of 18.30 cents.
At the last closing share price the estimated dividend yield is 2.40%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.73.

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.3, implying annual growth of 87.9%.
Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 3.4%.
Current consensus EPS estimate suggests the PER is 17.9.

You state you are keen to re enter yet your disclosure is already held?