Metcash's Hardware Struggles Likely to Persist -- Market Talk

Dow Jones10-28

2216 GMT - If investors expect a sharp recovery in Metcash's hardware business any time soon then they are likely to be disappointed. Macquarie highlights data that suggest a limited improvement in trade into the medium term. "For example, housing approvals and commencements both remain toward cyclical lows, albeit with a modest improvement in approvals in recent months," Macquarie says. Also, annual construction insolvencies have increased materially in recent years. There were some 3,000 insolvencies in FY 2024. Macquarie downgrades Metcash to neutral, from outperform. It lowers EPS estimates for FY 2025-FY 2028 by 11-12%, driven by the weakness in hardware. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 27, 2024 18:16 ET (22:16 GMT)

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Macquarie highlights data that suggest a limited improvement in ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7028","symbol_name":"食品分销商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2478194008","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478194008","pubTimestamp":1730067360,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2216 GMT - If investors expect a sharp recovery in Metcash's hardware business any time soon then they are likely to be disappointed. 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