Just got this in an email ...Friday, 10 March 2023SDF -...

Just got this in an email ...


Friday, 10 March 2023

SDF - STEADFAST GROUP LIMITED

Macquarie rates SDF as Outperform (1) - In a bid to move further in line with peers, Macquarie has moved to calculate earnings per share forecasts for Steadfast Group based on net profit after tax and amortisation, noting the difference is the exclusion of non-cash amortisation of customer lists.

This sees earnings per share forecasts list 21%, 23% and 22% through to FY25, and 19-22% thereafter.

The Outperform rating and target price of $6.50 are retained.

Target price is $6.50 Current Price is $5.82 Difference: $0.68 If SDF meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges). Current consensus price target is $6.34, suggesting upside of 8.9%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY23:

Macquarie forecasts a full year FY23 dividend of 15.10 cents and EPS of 24.60 cents . At the last closing share price the estimated dividend yield is 2.59%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.66. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 25.0, implying annual growth of 39.7%. Current consensus DPS estimate is 14.5, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 23.3.

Forecast for FY24:

Macquarie forecasts a full year FY24 dividend of 17.00 cents and EPS of 27.20 cents . At the last closing share price the estimated dividend yield is 2.92%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.40. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 26.9, implying annual growth of 7.6%. Current consensus DPS estimate is 16.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 21.6.

Market Sentiment: 0.8All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources