Ann: Funds under management as at 30 June 2021, page-30

Macquarie rates PNI as Outperform (1) - Despite upgrading forecasts by more than 80% during the second half, FY21 results were still ahead of Macquarie's expectations.The FY22 outlook is also attractive to the broker, supported by closing funds under management being 28% above the FY21 average.Macquarie retains an Outperform rating and raises the target to $15.33 from $12.28.Target price is $15.33 Current Price is $13.63 Difference: $1.7 If PNI meets the Macquarie target it will return approximately 12% (excluding dividends, fees and charges). Current consensus price target is $13.23, suggesting downside of -3.0%(ex-dividends)The company's fiscal year ends in June.Forecast for FY22:Macquarie forecasts a full year FY22 dividend of 38.40 cents and EPS of 45.10 cents . At the last closing share price the estimated dividend yield is 2.82%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.22. How do these forecasts compare to market consensus projections?Current consensus EPS estimate is 40.6, implying annual growth of N/A. Current consensus DPS estimate is 33.1, implying a prospective dividend yield of 2.4%. Current consensus EPS estimate suggests the PER is 33.6.Forecast for FY23:Macquarie forecasts a full year FY23 dividend of 44.20 cents and EPS of 52.00 cents . At the last closing share price the estimated dividend yield is 3.24%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.21. How do these forecasts compare to market consensus projections?Current consensus EPS estimate is 52.0, implying annual growth of 28.1%. Current consensus DPS estimate is 44.2, implying a prospective dividend yield of 3.2%. Current consensus EPS estimate suggests
PER 26.
Because you mentioned PNI.