Just got this in an email ...Wednesday, 28 February 2024
ABG - ABACUS GROUP
Macquarie rates ABG as Outperform (1) - First half funds from operations from Abacus Group came in 3% ahead of Macquarie's expectations, which the broker explained as a result of discontinued operations.
The company is pursuing investment in office leasing initiatives, in a bid to sure-up future office income and cashflow outlook in a challenging environment. $50m was deployed towards leasing initiatives in the first half, with a further $50m flagged for the second half.
The Outperform rating is retained and the target price decreases to $1.21 from $1.35.
Target price is $1.21 Current Price is $1.09 Difference: $0.12 If ABG meets the Macquarie target it will return approximately 11% (excluding dividends, fees and charges). Current consensus price target is $1.40, suggesting upside of 28.7%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 8.50 cents and EPS of 9.00 cents . At the last closing share price the estimated dividend yield is 7.80%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.11. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.4, implying annual growth of 194.7%. Current consensus DPS estimate is 8.5, implying a prospective dividend yield of 7.8%. Current consensus EPS estimate suggests the PER is 13.0.
Forecast for FY25:
Macquarie forecasts a full year FY25 dividend of 8.70 cents and EPS of 9.40 cents . At the last closing share price the estimated dividend yield is 7.98%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 11.60. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 8.6, implying annual growth of 2.4%. Current consensus DPS estimate is 8.6, implying a prospective dividend yield of 7.9%. Current consensus EPS estimate suggests the PER is 12.7.
Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
Ann: HY24 Results Presentation, page-4
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Last
$1.24 |
Change
0.025(2.06%) |
Mkt cap ! $1.108B | |||
| Open | High | Low | Value | Volume |
| $1.22 | $1.25 | $1.22 | $421.1K | 340.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7317 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 12142 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| ABG (ASX) Chart |