Macquarie forecasts FY25 EBITDA below consensus for Australia's Sonic Healthcare

Sonic Healthcare

01/07/2024 03:53

** Analysts at Macquarie forecast FY25 EBITDA of A$1.69
bln($1.13 bln) for Sonic Healthcare  SHL.AX , which sits 8%
below Visible Alpha consensus
    ** Brokerage maintains "Neutral" rating and price target of
A$26.35/shr
    ** Shares of SHL were down as much as 1.6% in early trade,
hitting lowest level since June 26
    ** Macquarie says brokerage forecasts imply a return on
equity (ROE) of 6-7% over FY24-FY26 for SHL on lower return on
net operating assets and reduced leverage compared to historic
levels
    ** Brokerage says weaker than expected FY25 EBITDA guidance
reflects challenging operating environment
    ** Five of 15 analysts covering the stock rate it "buy" or
higher, seven rate "hold" and three rate "sell" or lower; their
median PT is A$26.68 - LSEG data
    ** Stock down 18% YTD, as of last close

($1 = 1.4999 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))