James Hardie Industries is approaching an oversold range where investors should begin monitoring the short-term momentum indicators for a pick-up in buying activity.
The price range for a reversal in price action remains wide at $33 to $39.
James Hardie Industries is approaching an oversold range where investors should begin monitoring the short-term momentum indicators for a pick-up in buying activity.
The price range for a reversal in price action remains wide at $33 to $39.
James Hardie Industries was added to our model portfolio last month and is now up 13.5%
FY22 Guidance range has been upgraded from USD550-590m to USD580-600m.
After 20% growth into FY22 and FY23 analysts are forecasting slower growth of 10% in FY24. The stock trades on a forward yield into FY23 of 2.5% and a forward PE of 25x earnings
James Hardie Industries was added to our model portfolio on 12 October and is now up 14.6%.
James Hardie Industries is under Algo Engine sell conditions and we expect selling pressure to build with overhead resistance at $55.00.
James Hardie Industries FY21 profit guidance now stands at $US330m-$US390m. June quarter earnings were flat on the same time last year.
James Hardie Industries is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
JHX will report FY20 earnings tomorrow and previous guidance of $350m to $355m was provided on the 5th May.
The weak demand environment ahead for new residential construction will likely weigh on earnings. The fall in the share price from $33 to $21 allows for these headwinds and a discounted valuation argument builds for both JHX and BLD.
Note: James Hardie has suspended the payment of dividends.
James Hardie Industries is under Algo Engine buy conditions.
The share price has formed a higher low formation and rallied from the $17.50 support level.
Boral, James Hardie Industries and CSR have rallied from oversold levels, as buyers have been attracted to the reduced PE multiples. The question is whether non-residential and engineering construction will offset the fall in residential construction volumes.
Australian housing approvals have been trending down for the past 6 months with Jan approvals of 172k, down 30% on the same time last year.
BLD, JHX and CSR are now under Algo Engine sell conditions and we remain cautious given the broader market index back drop.
We consider Boral as the best recovery opportunity, but expect short-term sell pressure to persist.
James Hardie is a current holding within our ASX 100 model portfolio.
Today’s release of the 3QFY19 earnings were slightly below market consensus, however, the full year guidance for FY19 NPAT to be in the range of US$280-320m, supports a higher share price.
Off the back of the improved full year earnings outlook, James Hardie has rallied from $15 to $16.
Based on FY20 earnings, we have JHX trading on a 4.2% yield.
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