Transurban Group: Changing of the guard

About the author:

Nathan Lead
Author name:
By Nathan Lead
Job title:
Senior Analyst
Date posted:
17 August 2023, 7:00 AM
Sectors Covered:
Infrastructure, Utilities, Banks

  • Transurban Group's (ASX:TCL) FY23 result saw strong EBITDA in line with our expectations (but below consensus) and Free Cash below our expectations.
  • First-time FY24 DPS guidance was in-line with consensus (implies 4.5% cash yield) at current prices, but we think it may edge higher during FY24.
  • Changes to forecast EBITDA are immaterial. DPS downgrades from FY25+ due to earlier asset debt amortisation. Target price lifts to (login to view). HOLD retained.

Find out more

Download full research note

You can find further detailed analysis of company results this reporting season by browsing our reporting season tag, and view a full list of upcoming results on our Reporting Season Calendar.

If you would like more information, please contact your adviser or nearest Morgans office.

Request a call Find local branch

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

  • Print this page
  • Copy Link