From FN Arena
RMD - RESMED INC
Morgans rates RMD as Add (1) - Following ResMed's better thanexpected 1Q result, Morgans expects a strong medium-term earnings outlook willoutweigh shorter-term margin pressure and supply constraints. The latter isexpected to limit market share gains from the Phillips device recall.
The analyst highlights double-digit device growth and recoveringpatient flows though a rise in US masks of 5% was thought soft. The brokerretains its Add rating and reduces its target price to $40.80 from $41.34.
Target price is $40.80 Current Price is $37.17 Difference: $3.63If RMD meets the Morgans target it will return approximately 10% (excludingdividends, fees and charges). Current consensus price target is $38.92,suggesting upside of 4.7%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 23.07 cents andEPS of 85.11 cents . At the last closing share price the estimated dividendyield is 0.62%. At the last closing share price the stock's estimated Price toEarnings Ratio (PER) is 43.67. How do these forecasts compare to marketconsensus projections?
Current consensus EPS estimate is 83.9, implying annual growthof N/A. Current consensus DPS estimate is 22.7, implying a prospective dividendyield of 0.6%. Current consensus EPS estimate suggests the PER is 44.3.
Forecast for FY23:
Morgans forecasts a full year FY23 dividend of 26.12 cents andEPS of 101.42 cents . At the last closing share price the estimated dividendyield is 0.70%. At the last closing share price the stock's estimated Price toEarnings Ratio (PER) is 36.65. How do these forecasts compare to marketconsensus projections?
Current consensus EPS estimate is 98.5, implying annual growthof 17.4%. Current consensus DPS estimate is 24.3, implying a prospective dividendyield of 0.7%. Current consensus EPS estimate suggests the PER is 37.7.
This company reportsin USD. All estimates have been converted into AUD by FNArena at present FXvalues.Market Sentiment: 0.3All consensus data are updated until yesterday.FNArena's consensus calculations require a minimum of three sources
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