Just got this in an email...Thu, 23 Feb at 9:32 am
Thursday, 23 February 2023CRN - CORONADO GLOBAL RESOURCES INC
Macquarie rates CRN as Outperform (1) - Coronado Global Resources delivered a mixed result in 2022 compared with Macquarie's forecasts despite the materially higher income derived from buoyant metallurgical coal prices. The final dividend was well below expectations.
Guidance is also slightly softer than the broker expected while capital expenditure for 2023 is above estimates. 2023 guidance of 16.8-17.2mt has been provided, at mining costs of US$84-87/t.
Target falls to $2.60 from $2.70. Outperform retained.
Target price is $2.60 Current Price is $1.99 Difference: $0.615 If CRN meets the Macquarie target it will return approximately 31% (excluding dividends, fees and charges). Current consensus price target is $2.26, suggesting upside of 14.0%(ex-dividends)The company's fiscal year ends in December.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 4.62 cents and EPS of 71.39 cents . At the last closing share price the estimated dividend yield is 2.33%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.78. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 57.9, implying annual growth of N/A. Current consensus DPS estimate is 19.2, implying a prospective dividend yield of 9.7%. Current consensus EPS estimate suggests the PER is 3.4.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 55.49 cents and EPS of 102.17 cents . At the last closing share price the estimated dividend yield is 27.96%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 1.94. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 103.9, implying annual growth of 79.4%. Current consensus DPS estimate is 56.4, implying a prospective dividend yield of 28.4%. Current consensus EPS estimate suggests the PER is 1.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.Market Sentiment: 0.8All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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