The Wesfarmers Ltd (ASX: WES) share price will be one to watch in the coming week. The S&P/ASX 200 Index (ASX: XJO) giant is set to release its financial year 2022 earnings next Friday.
Could now be the time to jump in on the retail-focused conglomerate behind such businesses as Bunnings, Kmart, Officeworks, and Priceline?
At Friday’s close, shares in Wesfarmers were going for $48.92 apiece, 0.74% higher than their previous closing price. Meanwhile, the ASX 200 lifted 0.02% on Friday.
So, what are brokers forecasting for the Wesfarmers share price? Letâs take a look.
Do Wesfarmers shares boast 20% upside ahead of earnings?
The Wesfarmers share price could be set for growth, with broker Morgans tipping a potential 20% upside.
The broker likes the companyâs offerings, which it dubbed âone of the highest quality retail portfolios in Australiaâ, my Fool colleague James Mickleboro reports. It also thinks highly of Wesfarmersâ management team.
And itâs backed up its praises with equally high expectations. The broker has a $58.40 price target on Wesfarmersâ shares.
It has also tipped the company to pay out $1.65 per share of fully franked dividends in financial year 2022.
That presumably means it expects Wesfarmersâ final dividend to come in at 85 cents after the company handed investors 80 cents per share in March.
Looking further into the future, Morgans predicts Wesfarmers will pay out $1.81 per share in dividends this financial year.
The optimistic outlook likely comes as a relief for embattled investors. The retail conglomerateâs stock has tumbled 18% since the start of 2022. It has also dumped 26% over the last 12 months.
For comparison, the ASX 200 Index has also fallen 6% year to date and 5% since this time last year.
The post Is the Wesfarmers share price in the buy zone ahead of next weekâs earnings result? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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