8/8/2018 Action and recommendation Outperform. We maintain our...

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Michaelirish

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08/08/18

07:20

Post #: 34789605
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Originally posted by jossette ↑

QBE - QBE INSURANCE GROUP LIMITED
Macquarie rates QBE as Outperform (1) - Macquarie reviews the first week of offshore results ahead of the company's first half result on August 16. Feedback is mixed, with mid-sized US peril claims and lower crop pricing balanced by an improvement in premium rates and running yields.
The broker maintains an Outperform rating, given portfolio remediation has begun and the buyback continues. Target is raised to $11.80 from $11.70.
Target price is $11.80 Current Price is $10.12 Difference: $1.68 If QBE meets the Macquarie target it will return approximately 17% (excluding dividends, fees and charges). Current consensus price target is $11.11, suggesting upside of 9.8%(ex-dividends)The company's fiscal year ends in December.
Forecast for FY18:
Macquarie forecasts a full year FY18 dividend of 51.02 cents and EPS of 67.60 cents .At the last closing share price the estimated dividend yield is 5.04%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 14.97. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 71.9, implying annual growth of N/A.Current consensus DPS estimate is 55.1, implying a prospective dividend yield of 5.4%.Current consensus EPS estimate suggests the PER is 14.1.Forecast for FY19:
Macquarie forecasts a full year FY19 dividend of 54.13 cents and EPS of 83.92 cents .At the last closing share price the estimated dividend yield is 5.35%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.06. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 88.7, implying annual growth of 23.4%.Current consensus DPS estimate is 72.6, implying a prospective dividend yield of 7.2%.Current consensus EPS estimate suggests the PER is 11.4.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.Market Sentiment: 0.6All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources

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8/8/2018

Action and recommendation

Outperform. We maintain our Outperform recommendation

given portfolio remediation has begun,

the prospect of further buy-backs post the 1H18 result,

and the stock is trading at a ~20% PE discount to weighted international peers.
QBE Price at posting: $10.15 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $22.69		Change -0.065(0.29%)		Mkt cap ! $34.28B

Open	High	Low	Value	Volume
$22.52	$22.75	$22.52	$6.628M	292.5K

Buyers (Bids)

No.	Vol.	Price($)
8	401	$22.68

Sellers (Offers)

Price($)	Vol.	No.
$22.69	304	7

View Market Depth

No.	Vol.	Price($)
17	1052	22.630
15	2200	22.620
12	1974	22.610
12	2680	22.600
7	2775	22.590

Price($)	Vol.	No.
22.640	275	3
22.650	1201	13
22.660	1404	11
22.670	1377	12
22.680	865	7

Last trade - 13.37pm 29/07/2025 (20 minute delay)

QBE (ASX) Chart

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