Ann: Becoming a substantial holder, page-6

I just got this in an email ...Thu, 5 May at 9:43 am

Thursday, 5 May 2022

NHC - NEW HOPE CORPORATION LIMITED

Credit Suisse rates NHC as Outperform (1) - Credit Suisse's commodities team expects coal prices will remain elevated in the mid-term as geopolitical conflict and trade flow constraints continue to impact on supply. With Europe and other coal consumers looking to move away from Russian supply, a scarcity for high grade thermal coal should support healthy premiums on Australian exports.

With the broker lifting thermal price forecasts 41-109% through to 2026, its earnings forecasts for New Hope increase 10%, 129% and 196% for the same period.

The broker prefers Whitehaven Coal ((WHC)) over New Hope. The Outperform rating is retained and the target price increases to $4.90 from $3.50.

Target price is $4.90 Current Price is $3.53 Difference: $1.37 If NHC meets the Credit Suisse target it will return approximately 39% (excluding dividends, fees and charges). Current consensus price target is $3.99, suggesting upside of 13.1%(ex-dividends)The company's fiscal year ends in July.

Forecast for FY22:

Credit Suisse forecasts a full year FY22 dividend of 73.00 cents and EPS of 111.00 cents . At the last closing share price the estimated dividend yield is 20.68%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.18. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 110.4, implying annual growth of 1058.4%. Current consensus DPS estimate is 74.5, implying a prospective dividend yield of 21.1%. Current consensus EPS estimate suggests the PER is 3.2.

Forecast for FY23:

Credit Suisse forecasts a full year FY23 dividend of 93.00 cents and EPS of 154.00 cents . At the last closing share price the estimated dividend yield is 26.35%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 2.29. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 109.4, implying annual growth of -0.9%. Current consensus DPS estimate is 63.3, implying a prospective dividend yield of 17.9%. Current consensus EPS estimate suggests the PER is 3.2.

Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources