TOL - TOLL HOLDINGS LIMITED
Credit Suisse rates TOL as Outperform (1) - At its AGM, Toll warned of weaker than expected demand in the Sep Q, particularly in Global Resources. Guidance of "FY15 better than FY14" was nevertheless retained. Management spoke of cost reductions and here the broker believes there is plenty of scope within TOL's fragmented and overlapping businesses.
The broker has trimmed its target price to $6.50 from $6.60 on weaker demand but sees share price weakness as a buying opportunity. Outperform retained.
Target price is $6.50 Current Price is $5.54 Difference: $0.96 If TOL meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges).
The company's fiscal year ends in June. Credit Suisse forecasts a full year FY15 dividend of 29.10 cents and EPS of 41.10 cents . At the last closing share price the estimated dividend yield is 5.25%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.48.
Market Sentiment: 0.0
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 41.5, implying annual growth of 3.9%.Current consensus DPS estimate is 29.1, implying a prospective dividend yield of 5.3%.Current consensus price target is $ 5.61, suggesting upside of 1.2%(ex-dividends).Current consensus EPS estimate suggests the PER is 13.4.
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