Endeavour's Balance Sheet to Remain an Overhang -- Market Talk

Dow Jones

May 28

2312 GMT - Hotels-to-liquor-stores group Endeavour's debt burden is likely to hang over the stock for some time, signals Macquarie. The bank had previously reduced its dividend payout ratio forecasts, anticipating Endeavour will seek greater capital flexibility. "So we were not surprised to see widening of the target payout ratio to 50-75% of underlying net profit," Macquarie. Previously Endeavour had targeted a 70%-75% payout ratio. Macquarie also highlights a change in Endeavour's leverage calculation, which will mean it is above the company's target of less than 2.0x in FY26. "Given investment intentions, we expect this to remain an overhang through FY27," Macquarie says. It retains an "underperform" call and cuts its price target on Endeavour by 18%, to A$2.80/share. Endeavour ended Wednesday at A$2.93. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 27, 2026 19:12 ET (23:12 GMT)

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The bank had previously reduced its dividend payout ratio forecasts, anticipating Endeavour will seek greater capital flexibility. \"So we were not surprised to see widening of the target payout ratio to 50-75% of underlying net profit,\" Macquarie. Previously Endeavour had targeted a 70%-75% payout ratio. Macquarie also highlights a change in Endeavour's leverage calculation, which will mean it is above the company's target of less than 2.0x in FY26. \"Given investment intentions, we expect this to remain an overhang through FY27,\" Macquarie says. It retains an \"underperform\" call and cuts its price target on Endeavour by 18%, to A$2.80/share. Endeavour ended Wednesday at A$2.93. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2026 19:12 ET (23:12 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Endeavour's Balance Sheet to Remain an Overhang -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEndeavour's Balance Sheet to Remain an Overhang -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-28 07:12</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  2312 GMT - Hotels-to-liquor-stores group Endeavour's debt burden is likely to hang over the stock for some time, signals <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a>. The bank had previously reduced its dividend payout ratio forecasts, anticipating Endeavour will seek greater capital flexibility. \"So we were not surprised to see widening of the target payout ratio to 50-75% of underlying net profit,\" Macquarie. Previously Endeavour had targeted a 70%-75% payout ratio. Macquarie also highlights a change in Endeavour's leverage calculation, which will mean it is above the company's target of less than 2.0x in FY26. \"Given investment intentions, we expect this to remain an overhang through FY27,\" Macquarie says. It retains an \"underperform\" call and cuts its price target on Endeavour by 18%, to A$2.80/share. Endeavour ended Wednesday at A$2.93. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2026 19:12 ET (23:12 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EDV.AU","symbol_name":"Endeavour Group Ltd","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2638634005","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2638634005","pubTimestamp":1779923520,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2312 GMT - Hotels-to-liquor-stores group Endeavour's debt burden is likely to hang over the stock for some time, signals Macquarie. The bank had previously reduced its dividend payout ratio forecasts, anticipating Endeavour will seek greater capital flexibility. \"So we were not surprised to see widening of the target payout ratio to 50-75% of underlying net profit,\" Macquarie. Previously Endeavour had targeted a 70%-75% payout ratio. Macquarie also highlights a change in Endeavour's leverage calculation, which will mean it is above the company's target of less than 2.0x in FY26. \"Given investment intentions, we expect this to remain an overhang through FY27,\" Macquarie says. It retains an \"underperform\" call and cuts its price target on Endeavour by 18%, to A$2.80/share. Endeavour ended Wednesday at A$2.93. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"EDV.AU":"Endeavour Group Ltd","BK7040":"食品零售"},"translate_title":"Endeavour的资产负债表仍将悬而未决——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EDV.AU":0.9},"content_text":"2312 GMT - Hotels-to-liquor-stores group Endeavour's debt burden is likely to hang over the stock for some time, signals Macquarie. The bank had previously reduced its dividend payout ratio forecasts, anticipating Endeavour will seek greater capital flexibility. \"So we were not surprised to see widening of the target payout ratio to 50-75% of underlying net profit,\" Macquarie. Previously Endeavour had targeted a 70%-75% payout ratio. Macquarie also highlights a change in Endeavour's leverage calculation, which will mean it is above the company's target of less than 2.0x in FY26. \"Given investment intentions, we expect this to remain an overhang through FY27,\" Macquarie says. It retains an \"underperform\" call and cuts its price target on Endeavour by 18%, to A$2.80/share. Endeavour ended Wednesday at A$2.93. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 27, 2026 19:12 ET (23:12 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}