East Coast Infrastructure: Worst Boom Ever?
While many listed companies have rolled out charts showing a mountain of work available, the infrastructure boom may not be the gift to Australian contractors the market is assuming.
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Wagners Holding Company Limited
Wagners is a diversified Australian construction materials and services provider and an innovative producer of New Generation Building Materials that reduce the impact of heavy construction materials on the environment.
Wagners are a producer of cement, concrete, aggregates, composite products and have developed innovative technology with its Earth Friendly Concrete product. Wagners are also providers of transport services, precast concrete and reinforcing steel.
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News
Wagners Cement Hardens Resolve In Boral Dispute
Keep a close eye today on the shares in southeast Queensland building materials group, Wagners Holding Co after it slipped out an update on it's on continuing cement supply contract dispute with the giant Boral revealing a possible $10 million hit to after-tax profit for 2018-19 and more before tax.
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Boral Dispute Cracks Wagners Shares
Shares in southern Queensland construction and transport company Wagners plunged more than 20% yesterday after informing the market last night about a dispute with Boral that could cost the company about $20 million.
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Analyst Views
WGN – Macquarie rates the stock as Outperform
Outperform rating retained. Target price rises to $1.85 from $1.75.
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WGN – Morgans rates the stock as Hold
The near-term outlook may be challenging but Morgans notes the focus has shifted to the possible winning of significant major projects. FY20 is expected to be the cyclical low point in earnings.
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WGN – Credit Suisse rates the stock as Outperform
Wagners is taking a conservative view of the market in south-east Queensland, which Credit Suisse welcomes. The company has raised $40m in equity and has noted continued delays with major projects.
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WGN – Credit Suisse rates the stock as Outperform
The dispute with Boral ((BLD)) has now been escalated to the Queensland Supreme Court with volumes to Boral still suspended. Wagners has downgraded FY19 earnings guidance by -$10m at the midpoint to $25-28m, -20% below Credit Suisse's prior forecasts.
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