UBS upgrade

SXL - SOUTHERN CROSS MEDIA GROUP LIMITED

UBS rates SXL as Buy (1) - Southern Cross Media has an affiliation agreement with the Ten Network in selected markets, which UBS believes will remove an overhang.
The agreement covers regional Queensland, southern NSW and regional Victoria for two years commencing July 1 2021. As the overhang has now removed and advertising markets are continuing to improve the broker retains a Buy rating. Target is $2.50.
Target price is $2.50 Current Price is $2.12 Difference: $0.38 If SXL meets the UBS target it will return approximately 18% (excluding dividends, fees and charges). Current consensus price target is $2.00, suggesting downside of -5.7%(ex-dividends)The company's fiscal year ends in June.
Forecast for FY21:
UBS forecasts a full year FY21 dividend of 0.00 cents and EPS of 17.00 cents . At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 12.47. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.4, implying annual growth of -1.6%. Current consensus DPS estimate is 1.3, implying a prospective dividend yield of 0.6%. Current consensus EPS estimate suggests the PER is 12.2.
Forecast for FY22:
UBS forecasts a full year FY22 dividend of 12.00 cents and EPS of 16.00 cents . At the last closing share price the estimated dividend yield is 5.66%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 13.25. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 17.5, implying annual growth of 0.6%. Current consensus DPS estimate is 7.4, implying a prospective dividend yield of 3.5%. Current consensus EPS estimate suggests the PER is 12.1.
Market Sentiment: 0.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source