Ramsay Health Care's balance sheet 'constrained', Europe a drag - E&P

Ramsay Health Care

15/01/2024 19:56

** Analysts at E&P Capital say the balance sheet of
Australia's Ramsay Health Care  RHC.AX  is still somewhat
constrained on its ability to invest 
    ** Say balance sheet constrains reflects continued earnings
pressure from offshore regions especially Europe
    ** Brokerage forecasts weaker margins in Australia relative
to pre-COVID on the back of higher employee costs with lower
efficiency
    ** See FY24 Australia EBIT margin of 9.7% compared to 15%
during pre-COVID itmes
    ** Brokerage has PT of A$50/share and 'negative' rating
    ** Three of 15 analysts rate the stock "buy", nine "hold"
and three "sell"; their median PT is A$53.50 – LSEG data
    ** Stock has fallen 3.6% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))