Australia's James Hardie hits over 2-1/2-year low; AGM material underwhelms Citi

James Hardie Industries

24/09/2025 05:56

** Shares of James Hardie Industries JHX.AX fall as much as 5.2% to A$28.01, marking their lowest level since January 9 2023

** Stock is among the top 10 loser of the benchmark .AXJO which is down 1%

** Citi says the takeaway from AGM material announced on Tuesday after trading hours falls below VA consensus

** Brokerage estimates lower FY28 EBITDA of $1.2 bln, on the assumption of 2% sales CAGR and 28.5% EBITDA margin, compared to VA consensus of ~$1.5 bln

** "This implies a fairly soft outlook for the business, ahead of an AGM where the majority of the board are up for re-election" - Citi

** 6 out of 13 analysts rate the stock 'buy' or higher, 5 rate it "Hold", while 2 rate it "Sell" - data compiled by LSEG

** Stock down 43.8% on YTD basis

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.Shaikh@thomsonreuters.com;))