Citi expects lower earnings for Australia's Metcash in first half

Metcash

29/11/2023 19:30

** Citi expects food retailer Metcash  MTS.AX  to post a
drop in earnings in its first-half FY24 results on Dec. 4
    ** Brokerage sees EBIT of A$239 million ($158.41 million)
for the period, a 6% decline from a year earlier
    ** Also expects co to face further market share losses in
food division, along with tough trading conditions for hardware
division 
    ** Maintains "neutral" rating and A$4.00 target price
    ** 5 of 11 analysts rate the stock "buy" or higher, 4 "hold"
and 2 "sell"; their median PT is A$4.00 – LSEG data
    ** Stock down 9.6% this year, as of last close


($1 = 1.5088 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))