5 WONDERLA share price target reports by brokerages below. See what is analyst's view on WONDERLA share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
Wonderla Holidays is comfortably placed on the balance sheet front, led by debt-free status and strong liquidity. Its business is expected to take a strong hit both in revenue and profitability terms in the ongoing financial year. Recovery is also expected to be delayed as public would exercise caution and discretionary spending would also be reduced. Hence, we take a cautious stance and assign a REDUCE rating to Wonderla Holidays with a target price of Rs 110/share (DCF based).
We are positive on future potential of theme parks in India and maintain our long term positive view on the company for running the business efficiently despite challenges. We maintain our EPS estimates for FY20E and FY21E. The stock is trading at PE of 20.7x and 17.9x based on FY20E and FY21E EPS of Rs 11.9 and Rs 13.8 per share, respectively. We maintain Buy on the stock with a DCF based target price of Rs 333.
We have cut our EPS estimates for FY20E and FY21E factoring in lower footfall and realization. The stock is trading at PE of 23.6x and 20.3x based on FY20E and FY21E revised EPS of Rs 11.9 (Vs 12.9 earlier) and Rs 13.8 (Vs 16.2 earlier), respectively. We maintain Buy on the stock with a revised DCF based target price of Rs 333 (Vs Rs 359 earlier).
Valuation: We have fine-tuned our earnings estimates for FY2020 andFY2021 to factor in the expected muted performance in Q2FY2020 (~14% ofFY2020 revenue) due to floods in Kerala and Karnataka. The management has taken adequate steps to revive footfalls in the all the three parks. The upcoming park in Chennai will make Wonderla one of the strong players in the amusement parks space in India. However, we shall assess the company’s performance for 1-2 quarters. Any sustained improvement in the performance would act as a re-rating trigger. We maintain our Hold recommendation on the stock with a revised price target (PT) of Rs. 290.
We have marginally cut our EPS estimates for FY20E and FY21E factoring in lower footfall growth in Hyderabad park. The stock is trading at PE of 21.8x and 17.2x based on FY20E and FY21E revised EPS of Rs 11.7 and Rs 14.8 per share, respectively. We maintain BUY on the stock with a revised DCF based target price of Rs 338 (Vs Rs 347 earlier).
Wonderla has assets of Bangalore Park, which is a cash cow and Hyderabad Park that is poised for growth. Additionally, the debt free status of the company is an added advantage considering the asset heavy model of thecompany’ business. Further introduction of new rides would also keep themomentum going, attracting higher visits. Hence, we arrive at a target price of | 380 based on DCF analysis implying valuation of 29x FY21E P/E.
We are positive on the future potential of theme parks in India and maintain our long term positive view on the company for running the business efficiently despite challenges. We have marginally revised our EPS estimates for FY20E and introduce our estimates for FY21E. The stock is trading at PE of 25.1x and 19.7x based on FY20E and FY21E EPS of Rs 11.9 and Rs 15.3 per share, respectively. We maintain Buy on the stock with a revised DCF based target price of Rs 347 (Vs Rs 341 earlier).
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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