Australia's Regis Healthcare maintains high occupancy through COVID - Jefferies

Regis Healthcare

17/05/2022 24:27

** Jefferies says aged care services provider Regis
Healthcare  REG.AX  has increased occupancy even while the aged
care sector was impacted by Omicron variant
    ** Raises PT to A$2.3 from A$2.1; maintains "hold" rating
    ** However, says occupancy will remain under pressure as
long as community transmission persists
    ** Co's FY22 estimated earnings likely to be lower than
market expectations due to delay in reimbursement from
government for COVID-19 expense claims - brokerage
    ** Analysts at Jefferies expect residential aged care
operators to be affected by ongoing pandemic infections and
associated operating costs and occupancy, higher employee
expense, among others
    ** Jefferies now expects a net loss after tax of A$29.3 mln
($20.43 mln) for FY22 vs previous forecast for loss of A$19.6
mln    
    ** Two of five analysts rate the stock "buy" or higher,
three "hold"; their median PT is A$2.44 – Refinitiv Eikon data 
    ** YTD, stock up 26.7%, as of last close 
    



($1 = 1.4345 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))