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Wed, 8 June at 9:38 amWednesday, 8 June 2022
ALX - ATLAS ARTERIA
Credit Suisse rates ALX as Outperform (1) - Credit Suisse raises its target price for Atlas Arteria to $8.60 from $7.10 after media reports that IFM Investors is seeking to increase its shareholding to 15% from 7.94% at an $8.10 offer price. The suitor intends to seek access for due diligence for a full bid.
The broker applies a 10% control premium to its underlying valuation to arrive at an $8.60 target price, up from $7.10. The raised target also factors in higher earnings and dividends related to increasing tolls on the APPR network.
Target price is $8.60 Current Price is $7.10 Difference: $1.5 If ALX meets the Credit Suisse target it will return approximately 21% (excluding dividends, fees and charges). Current consensus price target is $7.14, suggesting upside of 0.5%(ex-dividends)The company's fiscal year ends in December.
Forecast for FY22:
Credit Suisse forecasts a full year FY22 dividend of 41.00 cents and EPS of 31.80 cents . At the last closing share price the estimated dividend yield is 5.77%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 22.33. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 52.4, implying annual growth of 207.0%. Current consensus DPS estimate is 41.4, implying a prospective dividend yield of 5.8%. Current consensus EPS estimate suggests the PER is 13.5.
Forecast for FY23:
Credit Suisse forecasts a full year FY23 dividend of 55.60 cents and EPS of 35.76 cents . At the last closing share price the estimated dividend yield is 7.83%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 19.85. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 57.8, implying annual growth of 10.3%. Current consensus DPS estimate is 48.6, implying a prospective dividend yield of 6.8%. Current consensus EPS estimate suggests the PER is 12.3.
Market Sentiment: 0.5All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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