Ann: Notice of FY21 Results Announcement and Conference Call, page-9

I just got this in an email ... Mon, 30 Aug at 9:45 am

Monday, 30 August 2021

AFG - AUSTRALIAN FINANCE GROUP LIMITED

Macquarie rates AFG as Outperform (1) - FY21 results were in line with Macquarie's estimates. Activity has remained elevated despite the lockdowns.

The broker considers the outlook supported by mortgage market lodgement activity, while the valuation is supported by net cash and trail receivables.

Earnings risk is to the upside and the broker retains an Outperform rating. Target is raised to $3.18 from $3.06.

Target price is $3.18 Current Price is $2.94 Difference: $0.24 If AFG meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges). Current consensus price target is $3.39, suggesting upside of 15.4%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY22:

Macquarie forecasts a full year FY22 dividend of 14.20 cents and EPS of 19.20 cents . At the last closing share price the estimated dividend yield is 4.83%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.31. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 21.5, implying annual growth of 12.4%. Current consensus DPS estimate is 15.2, implying a prospective dividend yield of 5.2%. Current consensus EPS estimate suggests the PER is 13.7.

Forecast for FY23:

Macquarie forecasts a full year FY23 dividend of 13.40 cents and EPS of 18.50 cents . At the last closing share price the estimated dividend yield is 4.56%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 15.89. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 23.5, implying annual growth of 9.3%. Current consensus DPS estimate is 16.6, implying a prospective dividend yield of 5.6%. Current consensus EPS estimate suggests the PER is 12.5.

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