Fletcher Building Cancels Dividend, Buyback, Guidance
NZ-based Fletcher Building has cancelled its dividend, suspended its buyback and withdrawn its 2019-20 earnings guidance.
Read More
News
Fletcher Building Confirms Buyback Details
Fletcher Building will kick off its $NZ300 million on-market share buyback next Monday, September 9Fletcher Building will kick off its $NZ300 million on-market share buyback next Monday, September 9.
Read More
Fletcher Building Back In The Black
Fletcher Building (FBU) says it’s back in profit and paying dividends after the first of its five-year turnaround strategy.
Read More
Fletcher Building Softens Weak Outlook With Buyback
Fletcher Building will use some of the money raised from the sale of its Formica business to run a $NZ300 million buyback once the 2018-19 annual results are released in August.
Read More
Oz Housing Slowdown Hits Fletcher Building
Fletcher building is looking at big losses from its Australian operations after a clean out and restructuring.
Read More
Analyst Views
FBU – UBS rates the stock as Neutral
The company has withdrawn guidance for FY20 and cancelled the interim dividend to preserve liquidity.
Read More
FBU – Citi rates the stock as Neutral
Fletcher Building's AGM confirmed the company is on track to meet consensus expectations, although trading to date has been a mixture of stronger and weaker results for different businesses.
Read More
FBU – Deutsche Bank rates the stock as Hold
The company has downgraded its underlying earnings (EBIT) outlook for FY19 by -NZ$30m, the result of a disappointing Australian division. Given the sharp decline in Australia, management's view that FY19 was a successful year is a surprise to Deutsche Bank.
Read More
FBU – Macquarie rates the stock as No Rating
Fletcher Building has completed the sale of Formica and disclosed the contribution to FY19 guidance, updating for timing and variations. New guidance range is NZ$620-650m, with a -1.6% downgrade at the midpoint from prior guidance.
Read More
FBU – Morgan Stanley rates the stock as Equal-weight
The company has updated guidance at its AGM, revising FY19 operating earnings (EBIT) down to NZ$630-680m, which is a -6.5% reduction on Morgan Stanley's forecasts.
Read More