Analysts cut Healius' PT, downgrade on lower earnings estimate

Healius

21/11/2023 01:43

(Updates with Macquarie note)
    ** Jefferies cuts PT on Australia-based healthcare firm
Healius  HLS.AX  to A$1.20 from A$2.40; downgrades to
"underperform" from "hold"
    ** Macquarie cuts PT to A$1.95 from A$2.90 on earnings
downgrade, moves to "neutral" from "outperform" rating
    ** Healius expects EBIT of A$14 mln ($9.11 mln) - A$17 mln
for H1 FY24 and EBIT of A$80 mln - A$90 mln for H2 FY24
    ** It is hard to see this level of profit turnaround in a
subdued environment for Australian healthcare services, even
with a flagged H2 FY24 EBIT cost out estimate of A$15 mln -
Jefferies
        ** Jefferies sees H2 FY24 EBIT of A$58 mln; Macquarie
downgrades FY24 and FY24 EPS estimate by 9% and 15%,
respectively
    ** Two of 9 analysts rate stock "buy", four "hold", three
"sell" or lower; median PT is A$2.50 - LSEG data
    ** Stock down 40.2% YTD, as of last close 

    ($1 = 1.5366 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))