I just got this ...Fri, 1 Oct at 9:37 am
IDX - INTEGRAL DIAGNOSTICS LIMITED
Friday, 1 October 2021
Macquarie rates IDX as Outperform (1) -
Integral Diagnostics has announced the acquisition of The X-Ray Group for $37.5m. Macquarie estimates the move to be around 4.5% annually accretive to earnings per share, and notes it should expand Integral Diagnostics' regional Victoria presence.
The broker highlights the transaction will comprise $25.95m in cash and $11.55m in shares, and with underlying earnings of $5.0-5.5m for FY22 suggests a 6.8-7.5x earnings multiple. Earnings per share forecasts upgraded 3%,4% and 5% to FY24.
The Outperform rating is retained and the target price increases to $5.55 from $5.30.
Target price is $5.55 Current Price is $4.92 Difference: $0.63 If IDX meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges). Current consensus price target is $5.13, suggesting upside of 4.3%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY22:
Macquarie forecasts a full year FY22 dividend of 13.00 cents and EPS of 20.10 cents . At the last closing share price the estimated dividend yield is 2.64%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.48. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 18.6, implying annual growth of 17.7%. Current consensus DPS estimate is 12.5, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 26.5.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 15.00 cents and EPS of 24.10 cents . At the last closing share price the estimated dividend yield is 3.05%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 20.41. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 22.0, implying annual growth of 18.3%. Current consensus DPS estimate is 14.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 22.4.
Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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