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Harvey Norman (HVN)

ASX.HVN $3.78

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ASX.HVN $3.78

20 MINUTE DELAYED

TODAY

-3.82 %

1 YEAR RETURN

0.00%

VOLUME

3,526,972

DIV YIELD

6.61%

PE RATIO

8.73

52 WEEK RANGE

3.18

4.54

ANALYSIS
OPINION
ACTION

ANALYSIS

Overview

SHARE PRICE ACTIVITY
Last (Price)	3.78
Change	-0.15 (-3.82)
Bid / Ask	3.74 - 3.83
Volume	3,526,972
Volume (3mths avg)	0
Turnover	13,326,597
Open	3.87
Day Range	3.72 - 3.89
VWAP	3.78
Prev Close	3.93
Last Trade	01/12 4:10pm (AEST)

KEY INFORMATION
Sector	Services
Shares Issued	511,844,032
NTA/Share	0.00
Last Dividend	0.12
Dividend Ex Date	13 OCT 2023
Dividend Pay Date	13 NOV 2023

CURRENT ()
Revenue
EBITDA
Profit
Earnings Per Share (EPS)	0
Dividend Per Share (DPS)	0
Yield %	6.61
Market Cap	0
Price to Earnings Ratio (P/E)	8.73

TARGET PRICE FORECAST

ESTIMATES ()
Revenue	0.00
EBITDA	0.00
Profit	0.00
Earnings Per Share (EPS)	0.00
Dividend Per Share (DPS)	0.00

BROKER CONSENSUS RECOMMENDATION

BUY

SELL

Target Price

0.00

Lt Growth Rate

0.00

Recommendation ()

0.00

OPINION

01/12/2023 09:19

Harvey Norman Ltd (HVN) $3.93

HVN rallied +4.5% on Thursday, and although it's not one of our favourite retailers, it now looks set to rally towards $4.50, around 15% higher, i.e. an excellent read-through for the ASX if the Discretionary Retailers can manage to bounce after a challenging 2.5 years.

24/11/2023 09:06

Harvey Norman Ltd (HVN) $3.60

HVN fell -3.2% on Thursday after trying to get off the canvas this financial year, aided by their better-than-expected result in August, but the stock has now given up all of its post-result gain and more. Traders are still holding a 6.4% short position in HVN, illustrating the lack of confidence in the stock and space; it's simply too hard for us at this stage of the economic cycle.

12/10/2023 09:18

Harvey Norman (HVN) $4.06

HVN has endured a really tough few years, but while their result in August showed some resilience coming in well ahead of consensus, earnings were still down ~34% i.e. the market had simply become too bearish. While we aren’t fans of its franchise segment, it does appear to be performing better than many feared, although not good enough to see a reduction in its 6.3% short position.

01/09/2023 09:01

Harvey Norman Ltd (HVN) $4.04

HVN rallied +5.2% yesterday after the retailer delivered FY23 net profit of $539.5mn which while down -34% year-on-year was well ahead of consensus at $461.5mn - consumer-facing stocks continue to outperform expectations. Some analysts also commented that the company’s franchise segment exceeded expectations, with 6.2% of the stock held short we could see a short squeeze unfold after it’s almost halved from its 2021 high.

04/08/2023 09:55

Harvey Norman Ltd (HVN) $3.77

HVN is a divisive stock, on one hand Aussie’s love the ‘can do’ attitude and forthright rhetoric from Gerry Harvey, and the stock looks cheap trading on an Est PE of 11x and 8% expected yield.

01/08/2023 09:53

Harvey Norman Ltd (HVN) $3.78

HVN is a consumer discretionary name that MM has successfully avoided over recent years but after almost halving we can see value emerging, it’s unlikely to find its way into a MM Portfolio but for the believers, we like the stock at ~$3.50.

28/06/2023 16:57

Harvey Norman (HVN) $3.41

HVN +4.92%: the retailer was strong today after it provided guidance for the first time in FY23, just days out from the end of the year. The company expects profit within 5% on either side of $670m based on the first 11 months of the year through May.

25/05/2023 08:50

Harvey Norman Ltd (HVN) $3.49

HVN fell another -2.8% making fresh 2-year lows in the process, Gerry Harvey’s $4.4bn retail giant is now down over -13% in 2023. The company delivered a disappointing 1H result in February where earnings (ex-property revaluations) were a ~10% miss, plus margins were under pressure as costs weighed.

28/02/2023 17:04

Harvey Norman (HVN) $3.85

HVN -7.45%: the retailer fell to 6-month lows and was the worst performer on the ASX200 today after a disappointing 1H result. Revenue was in line with expectations at $2.3b, however, earnings (ex-property revaluations) were a ~10% miss.

14/02/2023 09:16

Harvey Norman Ltd (HVN) $4.06

HVN has fallen 10% in rapid fashion over the last few weeks and to us, the simple risk/reward is too hard around $4, especially if people are going to hold fire on large ticket items like white goods, a theme we saw play out with JBH and their Good Guys franchise. We wouldn’t be surprised to see Gerry Harvey’s retailer trading back around $3.50.

ACTION

HVN

UPDATED 01/12/2023 12:04 ACTIVE

MM is now cautiously bullish towards HVN into Christmas

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HVN

UPDATED 24/11/2023 10:02

MM is neutral towards HVN into Christmas

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HVN

UPDATED 12/10/2023 16:17

MM is cautiously bullish on HVN into Christmas

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HVN

UPDATED 01/09/2023 08:57

MM is now bullish HVN ~$4

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HVN

UPDATED 04/08/2023 09:51

MM is neutral toward HVN

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HVN

UPDATED 01/08/2023 17:16

MM is cautiously positive toward HVN

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HVN

UPDATED 29/06/2023 08:51

MM still has no interest in HVN

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HVN

UPDATED 25/05/2023 08:26

MM remains neutral at best toward HVN

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HVN

UPDATED 04/05/2023 09:52

MM is neutral HVN at best

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HVN

UPDATED 28/02/2023 17:00

MM is neutral/bearish HVN

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Business Summary

Electrical, furniture and bedding retail giant, Harvey Norman, comprises bricks-and-mortar stores (owned and operated in Australia by independent franchisees) and its multi-award winning online operations, which launched in 2011. Established in the early 1960s as a sole electrical appliance store located in Sydney, Harvey Norman now boasts almost 300 stores globally, including New Zealand, Asia, the UK and Europe. Chairman Gerry Harvey is a well-recognised Australian businessman and go-to source for media seeking commentary about the country’s economic, business and social issues. The retailer is known for its favourable customer credit terms, customer service and the iconic ‘Go, Harvey Norman, Go!’ marketing jingle.

WATCH

Lead Portfolio Manager James Gerrish discussing the retail sector with a focus on Harvey Norman (HVN), Nick Scali (NCK), & Wesfarmers (WES) Recorded Wednesday 1st March

01/03/2023 14:47

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Harvey Norman (HVN)

ASX.HVN $3.78

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ASX.HVN $3.78

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Really bullish, there's more to go in the reflation rally

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