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    TAH   AU000000TAH8

TABCORP HOLDINGS LIMITED

(TAH)
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Tabcorp : Ord Minnett rates TAH as Lighten

02/03/2021 | 06:31pm EDT

Ord Minnett notes if reports of a potential acquisition of Tabcorp Holdings' underperforming wagering and media division come to fruition, Americans may be spending $6.6bn pa on Australian racing very soon.

The broker suspects any would-be buyers will target the Sky Racing media assets and that the bidder is likely to capitalise on the bearish wagering outlook to extract the value of the media business.

Sky Racing and media assets are valued by Ord Minnett at about $900m, with potential upside using US-media rights valuations. 

Ord Minnett retains its Lighten recommendation with a target price of $3.10.

Sector: Consumer Services.

Target price is $3.10.Current Price is $4.57. Difference: ($1.47) - (brackets indicate current price is over target). If TAH meets the Ord Minnett target it will return approximately -47% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena

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Financials
Sales 2021 5 573 M 4 101 M 4 101 M
Net income 2021 342 M 252 M 252 M
Net Debt 2021 2 323 M 1 710 M 1 710 M
P/E ratio 2021 30,5x
Yield 2021 2,76%
Capitalization 10 904 M 8 054 M 8 024 M
EV / Sales 2021 2,37x
EV / Sales 2022 2,26x
Nbr of Employees 5 000
Free-Float 99,1%
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Technical analysis trends TABCORP HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 4,92 AUD
Average target price 4,88 AUD
Spread / Average Target -0,87%
EPS Revisions
Managers and Directors
David Robert Henry Attenborough CEO, Managing Director & Executive Director
Adam Newman Chief Financial Officer
Steven Gregg Chairman
Francoise Russo Chief Information Officer
Justin Trevor Milne Independent Non-Executive Director
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