Boral (BLD) shares crumble on full year result
Boral (BLD) –20.56%: The stock took a bath today after they missed FY19 expectations and were more downbeat about the outlook for FY20. Back at the start of June, BLD held an investor day which split analyst opinion, Morgan Stanley who was bullish the stock said the most important aspect of the day was ‘no news is good news’ in terms of downgrades and they became more positive on the building material company. Credit Suisse was on the other side of the ledger downgrading BLD at the time, as it turns out, not aggressively enough – although they were right. BLD are facing a barrage of challenges, similar to Adelaide Brighton (ABC) and the expectations for a decline in earnings of 5-15% in FY20 versus markets expectations for a 1% decline was the nail in coffin today. A difficult period ahead for BLD.
Boral (BLD) Chart
