I just got this...
Wed, 21 Apr at 10:57 amWednesday, 21 April 2021
APT - AFTERPAY LIMITED
Morgans rates APT as Hold (3) - After a third quarter business update, Morgans lowers FY21 and FY22 EPS forecasts by -7% and -8% on slightly lower sales growth assumptions. The price target falls to $121 from $125.3, while the Hold recommendation is unchanged on valuation grounds.
Management noted that group margins remain firm and loss rates remain below historical levels. The company will begin to explore the possibility of a US listing as the North America division is now the largest contributor to the group, explains the broker.
Afterpay launched in Spain, France and Italy during the third quarter and Clearpay is on track to launch in Germany in the first half of FY22.
Target price is $121.00 Current Price is $125.23 Difference: minus $4.23 (current price is over target). If APT meets the Morgans target it will return approximately minus 3% (excluding dividends, fees and charges - negative figures indicate an expected loss). Current consensus price target is $120.83, suggesting downside of -3.5%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY21:
Morgans forecasts a full year FY21 dividend of 0.00 cents and EPS of minus 28.30 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 442.51. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is -17.5, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is N/A.
Forecast for FY22:
Morgans forecasts a full year FY22 dividend of 0.00 cents and EPS of 22.20 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 564.10. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 28.5, implying annual growth of N/A. Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A. Current consensus EPS estimate suggests the PER is 439.4.
Market Sentiment: 0.3All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
