Monday, 26 July 2021

I just got this ... Mon, 26 July at 9:31 am


Monday, 26 July 2021

ASX - ASX LIMITED

Macquarie rates ASX as Upgrade to Outperform from Neutral (1) - Macquarie has analysed revenue growth trends across ASX' key revenue segments, representing 75% of revenues, and concluded revenues can sustainably grow at 4.6%pa.

This implies 3.9%pa dividend growth, assuming 5.5%pa long term expense growth. Given greater confidence in the growth outlook, the broker upgrades to Ourtperform from Neutral. Target rises to $94.00 from $66.50.

Target price is $94.00 Current Price is $77.67 Difference: $16.33 If ASX meets the Macquarie target it will return approximately 21% (excluding dividends, fees and charges). Current consensus price target is $74.98, suggesting downside of -3.5%(ex-dividends)The company's fiscal year ends in June.

Forecast for FY21:

Macquarie forecasts a full year FY21 dividend of 220.00 cents and EPS of 245.00 cents . At the last closing share price the estimated dividend yield is 2.83%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 31.70. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 246.3, implying annual growth of -4.4%. Current consensus DPS estimate is 221.6, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 31.5.

Forecast for FY22:

Macquarie forecasts a full year FY22 dividend of 227.00 cents and EPS of 253.00 cents . At the last closing share price the estimated dividend yield is 2.92%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.70. How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 251.2, implying annual growth of 2.0%. Current consensus DPS estimate is 225.8, implying a prospective dividend yield of 2.9%. Current consensus EPS estimate suggests the PER is 30.9.

Market Sentiment: -0.1All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources