Perenti wins AUD 200 million contracts. Simply Wall St targets Perenti stock at AUD 1.97

Published on 10/07/2026 at 01:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

New contracts announced September 29 add AUD 185 million of FY27 revenue. For Perenti stock, FY26 EBITA reached AUD 340 million.

Perenti, AU0000061897, Illustration mit AI erstellt.

Perenti (ISIN AU0000061897) won more than AUD 200 million in drilling and underground mining contracts, while Simply Wall St reported on September 30, 2026 that its average analyst target stood at AUD 1.97, up from AUD 1.73 on August 26, 2026. The combination gives investors two separate reference points: fresh contracted work and a valuation target below the recent ASX quotation.

Contracts add FY27 visibility

The contract awards announced on September 29 span Australia, the United States, Canada and Senegal. According to SureStone Capital, five drilling businesses are expected to contribute AUD 185 million of FY27 revenue.

The same September 29 announcement assigns AUD 20 million to the first phase of an African Underground Mining Services contract at the Sabodala-Massawa complex in Senegal. Full underground production remains conditional on a notice to proceed from Endeavour Mining, so the initial award and the potential second phase should be treated as separate pieces of revenue visibility.

Margins matter more than volume

Perenti's fiscal 2026 results provide the operating baseline. Simply Wall St reported revenue of AUD 3.46 billion, flat versus fiscal 2025, while net income rose to AUD 192.0 million from AUD 120.6 million and profit margin increased to 5.5 percent from 3.5 percent.

A separate September 2026 results summary put record underlying EBITA at AUD 340 million on revenue of AUD 3.463 billion, with an EBITA margin of 9.8 percent. That contrast matters: the new contracts add volume, but the investment case increasingly depends on whether Perenti can preserve margins as projects scale across several jurisdictions.

EUR 1.40 prior close

The Lang & Schwarz snapshot dated October 6, 2026 showed a prior close of EUR 1.40. The primary listing is ASX: PRN, where the finance quote showed AUD 2.24 at 10:16 a.m. AEDT on October 7, 2026, with a market capitalization of AUD 2.1 billion and a 52-week range of AUD 1.75 to AUD 3.07.

InvestFunds identifies Perenti as an Australian Securities Exchange company under ticker PRN. The next dated corporate event listed by Simply Wall St is the annual general meeting on October 16, 2026.

The further course of trading is shown by the continuously updated real-time quote of Perenti stock.