Jefferies cuts PT on Australia's Estia Health after bigger HY loss

Estia Health

23/02/2022 24:55

** Jefferies cuts PT on Australia's Estia Health Ltd
 EHE.AX  to A$2.30 from A$2.40; retains "hold" rating 
    ** Aged-care operator Estia Health posts HY loss from
ordinary activities after tax attributable of A$8.1 mln ($5.85
mln) vs a loss of A$5.6 mln a year earlier  urn:newsml:reuters.com:*:nFWN2UW0SX   
    ** Jefferies says the pandemic continues to hit occupancy
rates as new variants of COVID-19 arise
    ** Flags increase in unit costs compared with revenue growth
and home care packages increase
    ** Brokerage now estimates a net loss of A$18.9 mln for
2022, compared with an earlier expectation of A$30.7 mln profit
    ** Two of six analysts rate the stock "buy" or higher, three
"hold" and one "sell" or lower; median PT is A$2.30 – Refinitiv
data
    ** Stock down 7.8% this year, as of last close


($1 = 1.3837 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))