13/08/2024 17:05

James Hardie (JHX) $48.37

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16/07/2024 09:38

James Hardie Plc (JHX) $50.23

JHX was hammered in May after they forecasted annual profits would fall over the coming 12 months amid an uncertain outlook across all of its major markets. The CEO said he expected volumes to drop by 5% in Australia in a challenging market. We like JHX as a business, but the near term uncertainty around their earnings has kept us on the sidelines for now, i.e., “if you in doubt, stay out!”.

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21/06/2024 09:06

James Hardie PLC (JHX) $46.67

JHX hasn’t recovered from April's sharp correction after the CEO forecasted annual profits would fall over the coming 12 months; last night's data arguably showed some foresight on their part. We discussed the downgrade to FY25 by JHX in detail last month, with a weak consumer weighing on the company's performance.

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22/05/2024 09:20

James Hardie PLC (JHX) $46.67

JHX endured a $3.5bn wipeout on Tuesday after they forecasted annual profits would fall over the coming 12 months amid an uncertain outlook across all of its major markets, e.g. the CEO said he expects volumes to drop by 5% in Australia in a difficult market where high house prices are curbing demand. The building materials company has hiked prices by ~9% over the last 12 months in Australia, but households have reached their limit and renovations or plans to build a new home are being put on hold, leading to the fall-off in volumes.

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09/05/2024 09:00

James Hardie Plc (JHX) $55.51

The 3Q24 trading update in February from JHX was solid, with net profit after tax (NPAT) beating consensus by 5%. Although guidance for Q4 was essentially a 7% downgrade, the stock traded up through $60 in anticipation of central banks cutting interest rates. However, the change in sentiment towards bonds through April has seen the stock correct 17%. Following the “less hawkish” news out of both the US and locally over the last week, we now like the risk/reward toward JHX around $55 over the coming months.

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21/03/2024 09:35

James Hardie Plc (JHX) $60.00

JHX is a building products company with significant overseas penetration, as opposed to property per se, but it will benefit from a construction boom in Australia. With a number of its Australian peers being acquired, CSR being the most recent casualty, it stands tall in our opinion. With the alternatives in the space diminishing, James Hardie is arguably the best remaining operator of them all, which is reflected by the stock's impressive appreciation over the last 18-months.

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29/02/2024 09:15

James Hardie Plc (JHX) $59.58

This month’s 3Q24 trading update from JHX was solid with net profit after tax (NPAT) of $US180m, a ~5% beat to consensus; however, the guidance for Q4 was essentially a 7% downgrade, which saw the stock trade lower earlier in the month before recovering. Importantly, sales growth was forecasted in line with expectations, and the stock looks well positioned moving forward for when rate cuts aid consumer affordability.

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13/02/2024 16:46

James Hardie (JHX) $54.19

JHX -8.46%: 3Q24 trading update from the building products company today was strong for the period, generating net profit after tax (NPAT) of $US180m which was  a ~5% beat to consensus, however the guidance for Q4 looks a little light on, expecting NPAT of $US165-185m vs current market expectations for $US188m, which is essentially a 7% downgrade at the mid-point of the revised guidance.

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19/12/2023 09:18

James Hardies Industries PLC (JHX) $51.61

JHX has almost doubled in 2023 as their company's strategy performed admirably in the short-term volume downturn. Last month, JHX delivered their 2Q24 result with the key takeaways being volumes hit a low point earlier than expected, margins bottomed at a higher level than most expected, and their growth mindset remains; there was nothing not to like, and the stock surged accordingly.

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09/11/2023 09:12

James Hardie Industries (JHX) $46.97

JHX soared +13.8% on Wednesday following strong guidance amid improving margins. The company said 3Q earnings were expected to come in at $US165-185m, a huge $US40m beat to consensus, and if this run rate can continue through the rest of the year, JHX could produce FY24 NPAT ~10% ahead of consensus expectations. Shareholders also enjoyed the new $US250m buyback.

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