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<WIRE> Whitehaven Coal (ASX:WHC) Forecasts FY24 Managed Coal Sales to be between 16.0 and 17.5 MT

Whitehaven Coal (ASX:WHC) announced its financial forecast for the fiscal year 2024.

The company expects managed coal sales to be between 16.0 and 17.5 million tons.

Managed ROM coal production is predicted to be in the range of 18.7 to 20.7 million tons with a proposed capital expenditure of A$460 to 570 million.

Whitehaven Coal is also expecting a strong future demand for metallurgical coal, predominantly from emerging markets as India, Asia in general, and China.

The company plans to commence a A$150 million capital project for early mining at Vickery during FY24, with the first output expected around the middle of CY2024.

As restocking requirements increase in the months leading up to the Northern Hemisphere winter, an upward pricing pressure for thermal coal is anticipated.

Lastly, key priorities identified for the year include cost management along with attracting and retaining talent, to allow for the successful execution of the FY24 guidance.

Whitehaven Coal is an Australian coal mining company that operates open cut and underground mines.


<WIRE> Whitehaven Coal (ASX:WHC) Declares Final Dividend of 42 AU Cents per Share

Whitehaven Coal (ASX:WHC) has announced it will distribute a final dividend of 42 AU cents per share.

The Australian-based coal company’s financial year revenue has reported to be A$6.06 billion, a significant uplift from the previous year’s A$4.92 billion.

Whitehaven Coal’s net profit after tax for the financial year saw an impressive surge of A$2.67 billion, showing a marked increase from A$1.95 billion.

In the foreseeable future, the company anticipates policy formulation and tight or expensive capital conditions to continue to hinder new supply.

Whitehaven Coal also highlighted that prices in the metallurgical coal markets have remained strong in 2022 and 2023 and are expected to continue around these levels in the near future.

Indeed, the company is anticipating a supply deficit in metallurgical coal in the coming decade.

Additionally, the company noted that the impact of China’s influence on the seaborne metallurgical coal market has tempered in the short term.

Whitehaven Coal (ASX:WHC) is a prominent player in the coal mining industry, focusing on the development and operation of coal mines in New South Wales.


<WIRE> Ramsay Health Care (ASX:RHC) Declares Final Ordinary Dividend Of 25 AU Cents Per Share

Ramsay Health Care (ASX:RHC) has announced its final ordinary dividend for the fiscal year ending in June.

The dividend will pay out 25 Australian cents per share.

In addition, the healthcare provider reported an increase in total revenue and other income, excluding interest income, of $15,339.1 million compared to $13,747.1 million in the previous year.

The company also reported a net profit after tax attributable of $298.1 million, showing a rise from last year’s figure of $274 million.

The company is forecasting volume growth in the mid to high single digits in the UK and is expecting the performance of Elysium to improve in the coming fiscal year.

They also announced the commencement of a sale process for Ramsay Sime Darby which led to multiple non-binding indicative offers, but the outcome remains uncertain.

Furthermore, Ramsay is planning an increase in digital and data operational expenditure investment in Australia of $34-44M over the next year.

Other forecasts include an effective tax rate of 30%, net interest expense in the range of $570-$600M, an investment in brownfield and greenfield projects in Australia of $250-$300M and group capital expenditure expected to be between $0.89-$1.02 billion.

Their dividend payout ratio is expected to be 60-70% of statutory net profit.

Ramsay Health Care (ASX:RHC) is an international hospital group and one of the top five private hospital operators in the world.




<WIRE> Citi Raises Price Target on Santos (ASX:STO)

Recent announcements reveal that Citi has increased its price target on Australia’s mega oil and gas firm, Santos (ASX:STO), to A$9 per share, which is an upward revision from the previous A$8.50.

Citi is expecting a greater dividend payout ratio from Santos, one of the key oil and gas producers, for the latter half of the 2023 fiscal year.

While the recent hike in Santos’s interim dividend to 8.7 cents per share did not greatly impress the market due to a reduced payout ratio, Citi still foresees positive prospects.

The brokerage firm anticipates Santos to earn pending environmental approvals for its Barossa project which they believe is crucial for the stock’s performance by October.

As per Refinitiv data, out of 16 analysts, 14 have rated the shares of Santos ‘buy’ or higher, and two maintained a ‘hold’; their median price target stands at A$8.75.

So far this year, the stock has surged by 8.3% up to the last close taken into consideration.

Santos is an Australian oil and gas company primarily engaged in the exploration, production, and distribution of gas and crude oil.


<WIRE> Citi lowers price target, earnings estimate for mineral sands miner Iluka (ASX:ILU) following lackluster half-yearly results and outlook

Citi has revised its price target for the Australian mineral sands mining company, Iluka (ASX:ILU) to A$10.00, down from A$11.80.

The brokerage has also cut its earnings estimates for the company through till the fiscal year 2025, owing to a weak pricing outlook for zircon and synthetic rutile.

Citi’s view for Iluka’s net profit in the fiscal year 2023 has been slashed by 15.5% to A$302.5 million, while the projection for the fiscal year 2024 has been reduced by 10% to A$303.4 million.

Iluka’s profit for the first half of 2023 was at a 44.1% decline at A$203.8 million due to low zircon sales and a poor product mix.

The company has also announced a pause in production at one of its synthetic rutile ovens at the Capel project located in Western Australia for four months.

The annual synthetic rutile output forecast by the company has been cut to 255 thousand tonnes from an initial 305 kt.

The company witnessed an 11.3% decline after the results were announced on Wednesday - its worst day since July 2012.

The brokerage revised its rating for the company from ‘neutral’ to ‘buy’, indicating that the risk-reward is ‘favourable enough’ and expecting more stimulus from China.

Iluka (ASX:ILU) is an Australian-based resources company specializing in mineral sands exploration, project development, operations, and marketing.


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<WIRE> Woolworths' Australian Food Segment Expected to Outperform Predictions, Says Citi

The Australian food division of Woolworths (ASX:WOW) is expected to perform stronger than consensus estimates.

The prediction comes from brokerage, which also foresees an improvement in the retailer’s gross profit margins, given growth in new businesses.

A streak of positive growth is anticipated, with a forecast of 6.1% like-for-like sales growth in the supermarket business until fiscal 2024, outpacing consensus estimates of 4.1%.

A significant 6% boost above market consensus for the company’s fiscal 2024 Australian food EBIT, pushed by higher sales, is also foreseen by the brokerage.

The firm advocates a ‘buy’ stance on Woolworths (ASX:WOW), maintaining its price target at A$42.20 per share.

Out of 16 analysts, nine recommend the stock as a ‘buy’ or higher, three advise ‘hold’ while four propose ‘sell’; their median price target is A$40.

As of the last close, the stock has registered an 11.7% rise for this year.

Woolworths (ASX:WOW) is a leading Australian retailer with a diverse range of retail businesses.


<WIRE> Citi Increases Price Target on Domino's Pizza (ASX:DMP); Upgrades to 'Neutral'

Analysts at Citi have raised their price target on Domino’s Pizza Enterprises (ASX:DMP) to A$57.95, up from A$53.70.

According to the financial institution, the pizza chain’s new high margin product strategies and promotions have been more successful than previously anticipated, leading to an upgrade of their position to ‘neutral.’ The bank believes that strategic menu innovation, coupled with an imminent partnership with Uber Eats in Australia, may bolster order frequency and enhance earnings.

Domino’s stated earlier in the week it anticipates its restructuring initiatives will yield network savings of A$80 million to A$94 million in FY25.

Of 14 analysts, five rate the stock as a ‘buy,’ five hold, and four recommend ‘sell’ or lower.

The median price target is A$53.70, according to Refinitiv data.

The stock has seen a decrease of 18.9% this year, as of the last close.

Domino’s Pizza Enterprises (ASX:DMP) is a multinational pizza delivery and carryout company.



<WIRE> Analysts React to Corporate Travel's (ASX:CTD) Fiscal Results Amidst Market Fluctuations

Analysts from Citi indicate that the fiscal year 2023 results for Australia’s Corporate Travel (ASX:CTD) have counterbalanced the unforeseeable market softness.

Corporate Travel reported a final dividend of 22 Australian cents per share and an adjusted net income for the fiscal year of A$92.5 million on Wednesday.

The brokerage firm emphasizes the market’s attention will revolve around lesser recovery expectations, which could pose an upside risk to profits.

The target price (PT) has been reduced to A$22.55 from A$23.80.

In a similar vein, analysts at Morningstar made an 8% cut to the fair value estimate on the company, positioning it at A$22.5.

Morningstar foresees fiscal year 2024 EBITDA to be A$257 million, with the company’s EBITDA guidance range for the same fiscal year listed between A$240 million and A$280 million, encapsulating the unstable conditions and the inconsistent road to pre-COVID-19 levels.

The stock has seen an increase of nearly 23% this year, based on the most recent closing.

Corporate Travel is an Australian firm specializing in the management of business travel.


<WIRE> Citi Revises Price Target on Australian KFC Operator Collins Foods (ASX:CKF)

Citi analysts have revised their Price Target on Collins Foods (ASX:CKF), a major operator in Australia’s fast food industry.

They now see the target as A$11.25 per share, down from a previous projection of A$12.8.

The financial firm has also adjusted Collins Foods' projected net profit after tax, cutting it by 2% to 4% for the fiscal years 2024 through 2026.

These reductions reflect an outlook of diminished sales and increased operational costs for the company.

Citi expresses a certain caution towards the firm, stating that they would like to see how Collins Foods adapts to economic pressures before adopting a more positive stance.

Of the analysts following the stock, five rate it as ‘buy’ or higher and five rate it as ‘hold.’ Their median price target is at A$10.30, according to Refinitiv data.

As of the most recent closing, Collins Foods' stock has risen by 40.1% this year.

Collins Foods (ASX:CKF) is an Australia-based operator of KFC franchises.