Credit Suisse rates MND as ...

Got this in an email ...Mon, 16 Jan at 10:00 am

Monday, 16 January 2023

MND - MONADELPHOUS GROUP LIMITED

Credit Suisse rates MND as Outperform (1) - Credit Suisse observes the contracts Monadelphous Group was expected to have in hand by the close of 2022 have not yet been awarded due to industry capacity restraints.

The broker expects the company will most likely win these but timing wise, the landing of the revenue will be pushed out, affecting 2023 June-half forecasts. The broker will be keeping a keen eye to second-half revenue guidance when the company reports on February 21, expecting a miss on consensus. Staffing remains an issue.

EPS forecasts fall -3.1% to -11.6% across FY23 to FY25 accordingly.

Outperform rating retained, a recovery forecast in FY24 and FY25. Target price falls to $15.10 from $15.60.

Target price is $15.10 Current Price is $13.31 Difference: $1.79 If MND meets the Credit Suisse target it will return approximately 13% (excluding dividends, fees and charges). Current consensus price target is $13.82, suggesting upside of 3.8%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY23:

Current consensus EPS estimate is 61.0, implying annual growth of 11.1%. Current consensus DPS estimate is 53.0, implying a prospective dividend yield of 4.0%. Current consensus EPS estimate suggests the PER is 21.8.

Forecast for FY24:

Current consensus EPS estimate is 72.5, implying annual growth of 18.9%. Current consensus DPS estimate is 62.4, implying a prospective dividend yield of 4.7%. Current consensus EPS estimate suggests the PER is 18.4.

Market Sentiment: 0.2All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources