Hi PAC followers Latest PAC earnings update from Ord Minnett via...

Hi PAC followers

Latest PAC earnings update from Ord Minnett via FNArena is below. Still suggesting target price of $11. Earnings forecasts look a bit on the conservative side based on recent couple of announcements, but that is their way, and they have been pretty close to the mark over the last couple of years
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Ord Minnett rates PAC as Buy (1) -
Ord Minnett concludes after 1Q results shares of Pacific Current Group remain cheap and expects healthy earnings growth over its forecast period.

Excellent net flows and a favourable currency movement offset negative equity markets, observes the analyst, and the group reported a 1.1% quarter-on-quarter increase in funds under management (FUM).

The broker retains its Buy rating and $11.00 target price.



Target price is $11.00 Current Price is $8.51 Difference: $2.49
If PAC meets the Ord Minnett target it will return approximately 29% (excluding dividends, fees and charges).
The company's fiscal year ends in June.

Forecast for FY23:

	Column 1
0	Ord Minnett forecasts a full year FY23 dividend of 40.50 cents and EPS of 61.36 cents.At the last closing share price the estimated dividend yield is 4.76%.At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.87.

Forecast for FY24:

	Column 1
0	Ord Minnett forecasts a full year FY24 dividend of 45.00 cents and EPS of 68.50 cents.At the last closing share price the estimated dividend yield is 5.29%.At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.42.

Cheers Westwind