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Computershare Ltd - Stock Quote CPU

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Morningstar's Computershare Ltd Stock Analysis

Currency in AUD
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Computershare Finally on the Right Side of Interest-Rate Movements

Analyst Note

| Gareth James, CFA |

We have increased our fair value estimate for narrow-moat-rated Computershare by 7% to AUD 19.50 per share following its first-half financial result. The fair value increase reflects slightly higher short-term earnings forecasts and the time-value-of-money boost to our financial model. Management has increased fiscal 2022 underlying EPS growth guidance to 9% from 2% and we’ve increased our forecasts accordingly. This has caused a 4% increase in our fiscal 2022 underlying EPS forecast, but our long-term forecasts haven’t materially changed. At the current market price of around AUD 22.40, we consider Computershare to be overvalued.

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Computershare Ltd's Company Profile

Business Description

Computershare has grown via global acquisition to become the world's leading provider of share registry services, constitutes around 60% of group EBITDA. The remaining 40% largely comprises mortgage administration services in the United States and United Kingdom. Around a third of group EBITDA is generated by interest on client-owned cash balances, or margin income, which is exposed to interest rate movements.

452 Johnston Street, Yarra Falls, Abbotsford
Melbourne, VIC, 3067, Australia
T +61 394155000
Sector Financial Services
Industry Capital Markets
Most Recent Earnings
Fiscal Year End Jun 30, 2022
Stock Type
Employees 12,009