Initiated a position on Thursday on the back of the cataclysmic sell down which I felt was a gross over-reaction. While I appreciate the market has been quite merciless especially on downward revisions to earnings forecasts by management, feel the input costs now are at peak levels and nine years on the US still below the average midcycle level for housing starts. So feel management have taken the conservative approach here which I have no problems with. Hardie still retains earnings strength and EBIT margins which is quite high for building products and strong balance sheet profile. Although the building construction complex (BLD, CSR) has been under pressure, JHX appears to have been de-rated to a level now where it looks very attractive from a valuation stand point and should see the marginal buyers/professional investors buy in.
Just my views only and would like to get other posters thoughts on this too.
Cheers
Initiated a position on Thursday on the back of the cataclysmic...
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Last
$53.73 |
Change
-0.460(0.85%) |
Mkt cap ! $23.18B | |||
| Open | High | Low | Value | Volume |
| $53.25 | $54.22 | $52.72 | $69.17M | 1.300M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13368 | $53.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $53.74 | 564 | 1 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| JHX (ASX) Chart |