Boral has been under Algo Engine sell conditions since forming a lower high at $5.75 back in July.
The share price is now down 30% from the July high and much of this selling occurred yesterday following the FY19 earnings result. Underlying NPAT was down 7%, at $440m & EBITDA was down 2%, at $1,037m.
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A pick up in US housing and local infrastructure spending should help to underpin Boral’s earnings. The stock trades on 10x earnings and a forward yield of 5%.
