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Just got this ...Mon, 21 June at 10:20 am

SDF - STEADFAST GROUP LIMITED

Macquarie rates SDF as Outperform (1) - Macquarie assesses that commentary from global peer Arthur J Gallagher is supportive of the investment case for Steadfast Group. The Outperform rating and $4.70 price target are retained.

Arthur J Gallagher reports organic growth through the first two months of 2Q21 is better than 1Q21 with growth across all regions, including A&NZ. This is due to improving new business trends, a small tailwind from volumes and positive policy endorsements.

The broker concludes sector operating conditions remain supportive, with additional potential M&A activity.

Target price is $4.70 Current Price is $4.32 Difference: $0.38 If SDF meets the Macquarie target it will return approximately 9% (excluding dividends, fees and charges). Current consensus price target is $4.67, suggesting upside of 8.1%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY21:

Macquarie forecasts a full year FY21 dividend of 11.40 cents and EPS of 18.40 cents . At the last closing share price the estimated dividend yield is 2.64%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 23.48. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 17.7, implying annual growth of N/A. Current consensus DPS estimate is 11.2, implying a prospective dividend yield of 2.6%. Current consensus EPS estimate suggests the PER is 24.4.

Forecast for FY22:

Macquarie forecasts a full year FY22 dividend of 12.50 cents and EPS of 20.20 cents . At the last closing share price the estimated dividend yield is 2.89%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.39. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 19.0, implying annual growth of 7.3%. Current consensus DPS estimate is 12.2, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 22.7.

Market Sentiment: 0.9All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources