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AQG with US$215m cash balance: Credit Suisse rates AQG as Outperform

Credit Suisse rates AQG as Outperform
2016 net profit was in line with expectations and there was no dividend. The cash balance has been reconfirmed at US$215m.
Target price is $5.30 Current Price is $2.73 Difference: $2.57
If AQG meets the Credit Suisse target it will return approximately 94% (excluding dividends, fees and charges).
Current consensus price target is $4.17, suggesting upside of 52.7%(ex-dividends)
The company’s fiscal year ends in December.
Forecast for FY17:
Credit Suisse forecasts a full year FY17 dividend of 0.00 cents and EPS of 17.30 cents.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 15.78.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 5.5, 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 49.6.
Forecast for FY18:
Credit Suisse forecasts a full year FY18 dividend of 10.78 cents and EPS of 18.60 cents.
At the last closing share price the estimated dividend yield is 3.95%.
At the last closing share price the stock’s estimated Price to Earnings Ratio (PER) is 14.68.
How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 11.9, implying annual growth of 116.4%.
Current consensus DPS estimate is 3.5, implying a prospective dividend yield of 1.3%.
Current consensus EPS estimate suggests the PER is 22.9.
This company reports in USD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: 0.6
All consensus data are updated until yesterday. FNArena’s consensus calculations require a minimum of three sources