GWA – Macquarie rates the stock as Outperform
Outperform retained. Target is raised to $3.30 from $3.25.
Read MoreOutperform retained. Target is raised to $3.30 from $3.25.
Read MoreGWA Group’s first-half operating income and net profit were -3% below Credit Suisse’s forecasts. Neutral rating with the target rising to $3.15 from $2.85.
Read MoreMacquarie reviews housing data, noting approvals continue to strengthen, which the broker saw as necessary for a further re-rating in the stock. Macquarie upgrades to Outperform from Neutral and raises the target to $3.90 from $3.25.
Read MoreCredit Suisse observes, since the last update in August, housing turnover and price indicators for GWA Group’s core alterations & additions market have improved. Hence, the latest commentary on FY21 is disappointing.
Read MoreShares in GWA Group fell sharply yesterday after the bathrooms and kitchens group revealed a COVID19 – powered sales slump in the year to June saw sales fall short of forecasts.
Read MoreMacquarie revises forecasts to reflect current housing activity and low visibility into FY21.
Read MoreA rare bit of good news for investors about one stock at least – The Perth based shipbuilder and defence contractor, Austal says it has been told by the US Navy it is performing “mission essential functions” and been urged to keep making ships.
Read MoreFirst half earnings (EBIT) were in line with expectations. Sales were below Credit Suisse estimates, stemming from further deterioration in the market and customer de-stocking.
Read MoreSimon Conn and Marc Whittaker from the IML Small Caps team discuss three of their favourite small to mid-cap stocks and the attributes these companies possess that make them believe they will do well for investors in the next 3 to 5 years.
Read MoreThe company has provided maiden FY20 earnings (EBIT) guidance of $80-85m. First quarter sales were down -8% and below Credit Suisse assumptions.
Read MoreWater management company GWA has produced its first stand-alone Sustainability Report. In previous years sustainability was covered in its annual reports.
Read MoreGWA is doing its best to keep shareholders happy in straightened times.
Read MoreWhen GWA Group sold its Door & Access Systems business for $107 million it said it would invest some of the capital in expanding its Bathrooms & Kitchens business and it has done that with an offer to acquire Auckland based and New Zealand Stock Exchange listed Methven Ltd.
Read MoreA flat year all round for bathroom and kitchen products supplier GWA Group.
Read MoreKitchen and bathroom fittings supplier GWA Group (GWA) will make a capital return of $88.3 million and undertake a partial share consolidation as the company continues to sell off unwanted assets.
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