** Analysts at Jefferies says Australian explosives maker Dyno Nobel's DNL.AX annual net profit after tax was consistent with its estimates

** Brokerage says co's FY26 earnings before interest and tax forecast is 3% ahead of Jefferies estimates at mid-point

** Jefferies, however, flag "big earnings hole" in FY27

** Adds, co's decision to exit Phos Hill mine by end FY-26 led to material drop in EPS forecast into FY27

** Brokerage says management needs to address "earnings hole" despite ongoing buyback

** Jefferies maintains price target at A$3.38 and "hold" rating

** Four of nine analysts rate stock "buy" or higher, five "hold"; their median PT is A$3.38 – LSEG data

** DNL up 18% this year, as of last close

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))