For me, the issue is housing is only now slowing. So its not just that this quarter will likely go backwards, it could be next the next 2, 3,4 or even 8.
Housing cycle has only just started turning over, something the market predicted 2 years ago (too early) when jhx was trading sub 30. I would suggest its concievable that earnings go backwards 30% over the year, which rebases forward estimates.
While I don't think we go back sub 30, i certainly think high 30s or even 40 is possible.
Ann: Q4 FY24 Results Pack, page-20
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Last
$51.99 |
Change
3.030(6.19%) |
Mkt cap ! $22.43B | |||
| Open | High | Low | Value | Volume |
| $50.30 | $52.09 | $50.15 | $114.1M | 2.208M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 85 | $51.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $51.99 | 1126 | 1 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| JHX (ASX) Chart |