I just got this ...
Thu, 13 May at 9:32 amThursday, 13 May 2021
CAR - CARSALES.COM LIMITED
UBS rates CAR as Buy (1) - Carsales.com has announced the purchase of a 49% stake in US online marketplace Trader Interactive to be funded by a $600m rights offer. The latter is a 1 for 6.99 accelerated rights offer at $17, a -12.9% discount to the company's last close of $19.51.
Trader Interactive is a platform of branded marketplaces in the US, providing digital marketing solutions and services across the commercial truck, recreational vehicle, power sports and equipment industries.
Management has no immediate plans to pivot Trader Interactive into the car vertical. UBS sees the key opportunity is to leverage expertise with demand-based revenue models (i.e. leads). Trader Interactive has a supply-based subscription revenue model.
At this stage the Buy rating and $24.50 target are retained while the analyst conducts further financial analysis.
Target price is $24.50 Current Price is $19.51 Difference: $4.99 If CAR meets the UBS target it will return approximately 26% (excluding dividends, fees and charges). Current consensus price target is $22.12, suggesting upside of 13.4%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 44.00 cents and EPS of 58.00 cents . At the last closing share price the estimated dividend yield is 2.26%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 33.64. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 58.5, implying annual growth of 23.7%. Current consensus DPS estimate is 48.8, implying a prospective dividend yield of 2.5%. Current consensus EPS estimate suggests the PER is 33.4.
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 50.00 cents and EPS of 65.00 cents . At the last closing share price the estimated dividend yield is 2.56%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 30.02. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 65.9, implying annual growth of 12.6%. Current consensus DPS estimate is 53.6, implying a prospective dividend yield of 2.7%. Current consensus EPS estimate suggests the PER is 29.6.
Market Sentiment: 0.3All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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Last
$37.53 |
Change
-0.650(1.70%) |
Mkt cap ! $14.18B | |||
| Open | High | Low | Value | Volume |
| $37.79 | $37.95 | $37.53 | $21.57M | 573.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 616 | $37.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.71 | 616 | 2 |
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| Last trade - 16.10pm 01/08/2025 (20 minute delay) ? |
| CAR (ASX) Chart |