James Hardie's Q2 Earnings & Sales Decline Y/Y, Stock Down

Zacks

Topbuild

-4.45%

James Hardie Industries

+2.79%

Masco

-0.97%

Armstrong World Industries

+0.05%

James Hardie Industries plc JHX reported second-quarter fiscal 2025 results, wherein adjusted earnings per share (EPS) and sales declined from the year-ago period, given lower volumes due to weak demand in North America and Europe.

Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.

Shares of this leader provider of high performance, low maintenance building products and solutions lost 2.75% during the trading session yesterday.

Despite volume and margin pressures across key markets, James Hardie maintained profitability through strategic price increases, operational efficiencies, and focused investments. Each region faced unique challenges, from raw material costs to economic headwinds, but effective cost management and targeted market strategies allowed the company to uphold performance. For example, the company attempted to counterbalance the volume decline with strategic price increases and investments in market share growth, particularly in North America and Australia.

James Hardie Industries PLC. Price

James Hardie Industries PLC. price | James Hardie Industries PLC. Quote

Inside JHX’s Q2 Results

Net sales of $961 million decreased 4% from a year ago. This downside was due to lower market demand in North America. Also, demand remained subdued, especially in Germany, where the economic environment has been more challenging.

Adjusted operating margin declined 200 basis points (bps) from a year ago to 22% in the quarter.

Adjusted EBITDA margin of 27.4% declined 120 bps from the year-ago period.

Adjusted EPS came in at 36 cents, a decrease of 11% from 41 cents a year ago.

James Hardie’s Segmental Performance

North America Fiber Cement: Net sales dipped 5% year over year, driven by a 7% decline in volume due to weaker market demand. However, this was partly offset by an increase in average net sales price, attributed to a January 2024 price adjustment.

The EBIT margin decreased 270 bps to 29% from a year ago. Excluding depreciation, EBITDA fell 10% to $240 million, and EBITDA margin decreased 170 bps to 34.5%.

Asia Pacific Fiber Cement: James Hardie focused on gaining market share in Australia and New Zealand, seeing a modest recovery in core products. The decision to cease operations in the Philippines led to a 10% volume decline, offset by a 10% increase in the average net sales price. This resulted in net sales of $148.4 million, up 1% year over year.

Adjusted EBIT margin rose 310 bps to 33.3%, driven by a favorable geographic mix and price adjustments. Adjusted EBITDA grew 11% to $54 million, with an adjusted EBITDA margin improvement of 350 bps to 36.5%.

Europe Building Products: Markets, particularly in Germany, remained weak. Despite this, net sales only declined 1% year over year in Euros. Price increases partially offset this impact, with a 4% rise in average net sales price. This resulted in net sales of $116.6 million in the quarter, at par year over year.

EBIT margin declined 320 bps to 7.5%, with profitability mainly affected by unfavorable comparisons due to a rebate true-up from the previous year. EBITDA, excluding depreciation, fell 12% to $17 million, with an EBITDA margin decrease of 220 bps to 14.5%.

Zacks Rank & Recent Construction Releases

JHX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

TopBuild Corp. BLD reported mixed results for the third-quarter 2024, wherein its earnings topped the Zacks Consensus Estimate and sales missed the same. Nonetheless, both earnings and sales increased year over year on the back of pricing and increased volumes. TopBuild also benefited from acquisitions despite the challenges.

TopBuild has trimmed its sales and adjusted EBITDA views for 2024 due to the ongoing challenges in the housing market and delays in commercial and industrial projects. Despite this, the company remains optimistic, supported by growing demand for energy efficiency, the U.S. housing supply shortage, increasing household formations and the potential for lower interest rates to drive growth.

Masco Corporation MAS reported third-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate and net sales marginally beat the same. Strong operational efficiency helped it deliver strong earnings amid challenging market conditions.

Masco lowered the upper limit of its 2024 adjusted EPS guidance due to challenged market demand.

Armstrong World Industries, Inc. AWI reported solid results for the third quarter of 2024, wherein earnings and net sales topped the Zacks Consensus Estimate and increased on a year-over-year basis.

Given the solid third-quarter results and improved line of sight for the full year, Armstrong World raised its 2024 guidance for adjusted EBITDA, adjusted EPS and adjusted free cash flow.

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Installed Building Products Expands Reach With Tatum Acquisition

Zacks

Frontdoor

-1.24%

Armstrong World Industries

+0.05%

Comfort Systems USA

+1.28%

Installed Building Products

-3.83%

Installed Building Products, Inc. IBP, a top U.S. installer of insulation and complementary building products, announced its acquisition of Tatum Insulation III, LLC, an installer based outside Wilmington, NC. With Tatum’s strong presence across new residential and commercial markets in the state, IBP gains increased geographic reach and additional revenue streams. Tatum’s offerings span fiberglass insulation, shower doors, shelving, mirrors, and other interior building products, which will strengthen IBP's service portfolio across North Carolina.

Installed Building Products’ Revenue Growth and Market Expansion

The acquisition of Tatum adds more than $17 million in annual revenues for IBP, a significant boost that aligns with its growth-focused acquisition strategy. According to Jeff Edwards, chairman and CEO of IBP, this deal marks a crucial step forward in diversifying the company’s customer base to serve single-family, multi-family, and commercial construction needs more effectively. Edwards emphasized that with more than $90 million in revenues gained from acquisitions so far in 2024, IBP’s approach remains robust, with a healthy pipeline for future deals across various regions and markets.

IBP’s Strategic Focus on Acquisitions

For IBP, acquisitions are a primary driver of growth, allowing the company to expand into new markets and broaden its service offerings. By integrating Tatum’s operations and resources, IBP is set to strengthen its competitive positioning in the Southeastern U.S. market. This acquisition not only boosts its revenues but also enhances its ability to meet rising demand across North Carolina’s residential and commercial construction sectors.

With this strategic addition, IBP continues its momentum, positioning itself as a leader in the building products installation industry while enhancing value for its shareholders.

During the third quarter, IBP completed acquisitions, including an Illinois-based installer and a specialty distributor, with combined annual revenues exceeding $42 million. These acquisitions contributed to IBP's 8% revenue growth, marking a record third-quarter performance.

Acquisitions are core to IBP's capital allocation strategy, enabling geographic expansion and product diversification across its national network. IBP anticipates further deals before year-end and has a strong acquisition pipeline for 2025. Management remains optimistic about demand driven by residential construction, further supported by U.S. government incentives for energy-efficient building standards.

Share Price Performance of IBP Stock

Shares of this industry-leading installer of insulation and complementary building products have gained 49.1% in the past year compared with the Zacks Building Products – Miscellaneous industry’s 43.6% growth.

IBP’s Zacks Rank and Key Picks

Installed Building currently carries a Zacks Rank #4 (Sell).

Here are some better-ranked stocks from the Zacks Construction sector:

Frontdoor, Inc. FTDR: Based in Memphis, TN, this company provides home warranties in the United States. It presently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

FTDR has seen an upward estimate revision for 2024 EPS to $3.14 from $2.79 over the past 30 days. The estimated figure indicates 36.5% year-over-year growth. Shares of FTDR have gained 59.8% in the past year.

Comfort Systems USA FIX currently sports a Zacks Rank #1.

FIX has seen an upward estimate revision for 2024 EPS to $13.88 from $13.79 over the past 30 days. The estimated figure indicates 58.8% year-over-year growth. Shares of FIX have gained 129.7% in the past year.

Armstrong World Industries AWI presently carries a Zacks Rank of 2 (Buy).

AWI has seen an upward estimate revision for 2024 EPS to $6.14 from $6.07 over the past 30 days. The estimated figure indicates 15.4% year-over-year growth. Shares of AWI have gained 85.2% in the past year.

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James Hardie Industries Up Nearly 9%, on Pace for Largest Percent Increase in Over a Year — Data Talk

Dow Jones Newswires

James Hardie Industries

+2.79%

James Hardie Industries PLC Sponsored ADR (JHX) is currently at $34.62, up $2.83 or 8.89%

Would be highest close since Oct. 21, 2024, when it closed at $35.40
On pace for largest percent increase since Nov. 8, 2023, when it rose 15.61%
Currently up three of the past five days
Up 8.51% month-to-date
Down 10.49% year-to-date; on pace for worst year since 2022, when it fell 55.91%
Down 17.58% from its all-time closing high of $42.00 on Sept. 20, 2024
Up 11.81% from 52 weeks ago (Nov. 15, 2023), when it closed at $30.96
Down 17.58% from its 52-week closing high of $42.00 on Sept. 20, 2024
Up 14.35% from its 52-week closing low of $30.27 on June 11, 2024
Traded as high as $35.40; highest intraday level since Oct. 21, 2024, when it hit $36.05
Up 11.36% at today's intraday high; largest intraday percent increase since Sept. 20, 2024, when it rose as much as 12.55%

All data as of 11:36:39 AM ET

Source: Dow Jones Market Data, FactSet

Risk Warnings and Disclaimers

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Paymentus Posts Better-Than-Expected Earnings, Joins Dave, Honest Company, Natera, CAVA Group And Other Big Stocks Moving Higher On Wednesday

Benzinga

JETAI INC. C/WTS 26/07/28 (TO PUR COM)

0.00%

U.S. stocks were mixed, with the Nasdaq Composite falling around 50 points on Wednesday.

Shares of Paymentus Holdings, Inc. rose sharply in today's session after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.

Also, Baird maintained an Outperform rating on the stock and raised its price target from $25 to $36.

Paymentus Holdings shares jumped 23.8% to $32.97 on Wednesday.

Here are some other big stocks recording gains in today's session.

Jet.AI Inc. J shares surged 56% to $10.36. Jet.AI's board approved $2 million share repurchase program through 2025 and announced withdrawal of S-1 registration.
Dave Inc. shares jumped 46.8% to $92.19 after the company reported better-than-expected third-quarter adjusted EPS results and raised its FY24 sales guidance.
Rocket Lab USA, Inc. gained 36% to $19.93 after the company reported better-than-expected quarterly financial results. The company also announced a multi-launch agreement with a confidential commercial satellite constellation operator and was awarded a federal defense contract worth up to $8 million.
Paragon 28, Inc. rose 34.8% to $10.20 following third-quarter results.
The Honest Company, Inc. gained 28.3% to $6.16 after the company reported better-than-expected quarterly sales results.
Organogenesis Holdings Inc. gained 27.5% to $4.4000 following third-quarter results.
Altus Power, Inc. gained 21.5% to $3.7788 after the company reported better-than-expected quarterly EPS and sales.
Natera, Inc. gained 20% to $162.15 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.
Rivian Automotive, Inc. gained 15.3% to $12.19 after the company announced a joint venture launch with Volkswagen for a total deal size worth up to $5.8 billion.
JetBlue Airways Corporation rose 15.3% to $7.28.
Tower Semiconductor Ltd. gained 11.8% to $48.22 after the company reported better-than-expected quarterly financial results.
James Hardie Industries plc rose 9.9% to $34.93.
CAVA Group, Inc. gained 9.1% to $158.26 after the company reported better-than-expected third-quarter financial results and raised its FY24 net new restaurant openings outlook and same sales growth.
Albemarle Corporation rose 7.1% to $110.09.
Spotify Technology S.A. gained 6.9% to $448.39 following third-quarter earnings.

Now Read This:

Jim Cramer Says Intuitive Surgical Is A ‘Fantastic, Expensive Company’

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Evening Wrap: ASX 200 slides as Trump Trade unwind hurts financials and tech, resources hit by falling commodity prices

Market Index

James Hardie Industries

The S&P/ASX 200 closed 62.2 points lower, down 0.75%.

A modest unwinding of the Trump Trade that has so dominated local market proceedings over the last week saw some capital pull back from sectors like Technology, Financials, and more generally, those companies with a large portion of US-based earnings.

Alas, this did not mean this capital flowed back toward sectors that are seen to be major losers from the Trump Trade, like Resources and Energy. They were down again.

Still, there were are few sectors that managed to find gains, including uranium – if only recovering somewhat from yesterday's big sell off.

Click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all of the key upcoming economic data in tonight's Evening Wrap.

Let's dive in!

Today in Review

Wed 13 Nov 24, 5:13pm (AEDT)

Name	Value	% Chg
Major Indices
ASX 200	8,193.4	-0.75%
All Ords	8,450.9	-0.76%
Small Ords	3,118.6	-1.23%
All Tech	3,741.3	-0.89%
Emerging Companies	2,269.6	-1.14%
Currency
AUD/USD	0.6533	-
US Futures
S&P 500	6,000.5	-0.21%
Dow Jones	43,981.0	-0.21%
Nasdaq	21,126.75	-0.30%

Name	Value	% Chg
Sector
Utilities	8,462.3	+0.59%
Energy	8,494.6	-0.02%
Consumer Discretionary	3,809.2	-0.09%
Communication Services	1,644.4	-0.46%
Real Estate	3,913.4	-0.49%
Health Care	44,961.6	-0.68%
Materials	16,627.4	-0.73%
Consumer Staples	11,275.6	-0.80%
Information Technology	2,786.1	-0.97%
Industrials	7,454.8	-1.06%
Financials	8,652.1	-1.07%

Markets

ASX 200 Session Chart

The S&P/ASX 200 (XJO) finished 62.2 points lower at 8,193.4, roughly mid-range, 0.67% from the session low and 0.76% from the session high. In the broader-based S&P/ASX 300 (XKO), advancers lagged decliners by to a sizeable 101 to 196.

The Utilities (XUJ) (+0.58%) was the only sector closing in the black today, but only modestly so. I note major constituent Origin Energy (+0.90%) drove most of the gain here. No news.

Financials (XFJ) (-1.1%) was the hardest hit sector today, dragged lower by ANZ Group (-4.0%) going ex-dividend $0.83 fully franked, and adverse news updates from Insignia Financial (-4.8%), Magellan Financial Group (-4.8%), and NIB (-4.4%) (see Interesting Moves section below for more details).

A modest unwinding of the Trump Trade that has so dominated local market proceedings over the last week saw some capital pull back from Information Technology (XIJ) (-1.0%). There were also a couple of nasty news related items here, including big falls by Nuix (-22.2%) and Life360 (-7.4%).

Sure, the Trump Trade unwound a touch for those stocks that had benefited from it, but there was no respite for those sectors who are very likely to be hurt by it, like Resources (XJR) (-0.96%). This sector continued to suffer as base metals prices fell sharply on the London Metals Exchange Tuesday, and precious metals continued to edge lower.

Commodity	Last Price	Change $	Change %	1mo %	1yr %
Aluminium - LME Official Cash	$2530.00	-$25	-1.0%	-1.4%	+13.6%
Copper - LME Official Cash	$9005.00	-$246	-2.7%	-5.4%	+12.1%
Iron Ore CFR China 62% Fe Spot	$102.96	-$0.14	-0.1%	-3.9%	-18.3%
Nickel - LME Official Cash	$15780.00	-$130	-0.8%	-9.0%	-10.6%
Lead - LME Official Cash	$1981.00	-$3.50	-0.2%	-1.3%	-9.2%
Tin - LME Official Cash	$29950.00	-$1800	-5.7%	-7.8%	+21.6%
Zinc - LME Official Cash	$2917.50	-$63.50	-2.1%	-4.3%	+12.6%
Lithium Carbonate 99.5pct Battery Grade	$76700.00	+$1200	+1.6%	+1.1%	-54.9%
Spodumene Concentrate 6pct ($US/t)	$790.00	+$15	+1.9%	+3.9%	0%
Spodumene Concentrate Index ($US-mt)	$784.00	+$7	+0.9%	+1.0%	-65.2%
Silver/U.S. Dollar Spot Rate	$30.76	+$0.04	+0.1%	-1.3%	+29.5%
Gold/U.S. Dollar Spot Rate	$2599.34	-$23.44	-0.9%	-1.8%	+30.1%

Selected commodity price moves from Tuesday

There were some bright spots, however. Uranium stocks generally rebounded after their sharp sell of yesterday. The culprit of that sell off, Paladin Energy (+8.6%) rebounded from Tuesday’s 29% plunge.

I also note that the odd lithium stock gained – but I would say this sector was notably absent from the gainers list today given that lithium minerals prices continue to rally strongly in China (what gives!? 🤔)

Company	Last Price	Change $	Change %	1mo %	1yr %
Paladin Energy (PDN)	$7.47	+$0.59	+8.6%	-38.3%	-20.1%
Nexgen Energy (NXG)	$11.74	+$0.79	+7.2%	+7.3%	+21.4%
Ora Banda Mining (OBM)	$0.785	+$0.045	+6.1%	+18.0%	+390.6%
Vulcan Energy Resources (VUL)	$6.11	+$0.26	+4.4%	+26.5%	+153.5%
Bannerman Energy (BMN)	$2.84	+$0.08	+2.9%	-17.4%	+15.0%
Iluka Resources (ILU)	$5.54	+$0.14	+2.6%	-14.0%	-21.8%
Boss Energy (BOE)	$3.04	+$0.06	+2.0%	-14.8%	-26.4%
Deep Yellow (DYL)	$1.225	+$0.02	+1.7%	-18.1%	+4.3%
Catalyst Metals (CYL)	$2.87	+$0.04	+1.4%	-7.1%	+239.6%
WA1 Resources (WA1)	$13.35	+$0.18	+1.4%	-8.6%	+21.7%
Coronado Global Resources (CRN)	$0.985	+$0.01	+1.0%	-15.5%	-36.7%
Origin Energy (ORG)	$10.10	+$0.09	+0.9%	-0.4%	+16.8%
Fortescue (FMG)	$18.29	+$0.15	+0.8%	-10.7%	-23.0%
De Grey Mining (DEG)	$1.370	+$0.01	+0.7%	-3.5%	+18.8%
APA Group (APA)	$6.69	+$0.04	+0.6%	-12.5%	-18.8%
Liontown Resources (LTR)	$0.880	+$0.005	+0.6%	+4.8%	-41.3%

The best performing ASX stocks today

Company	Last Price	Change $	Change %	1mo %	1yr %
Nuix (NXL)	$5.90	-$1.68	-22.2%	-16.8%	+290.7%
Macmahon (MAH)	$0.345	-$0.03	-8.0%	-5.5%	+122.6%
Life360 (360)	$22.39	-$1.8	-7.4%	+2.4%	+181.6%
Mineral Resources (MIN)	$34.95	-$2.71	-7.2%	-30.4%	-40.1%
Appen (APX)	$2.68	-$0.19	-6.6%	+20.2%	+186.1%
Insignia Financial (IFL)	$3.17	-$0.16	-4.8%	+6.4%	+48.8%
Magellan Financial Group (MFG)	$10.11	-$0.51	-4.8%	-6.3%	+45.5%
Sims (SGM)	$12.72	-$0.62	-4.6%	-2.8%	-1.5%
Firefly Metals (FFM)	$1.095	-$0.05	-4.4%	+4.8%	+121.2%
NIB (NHF)	$5.70	-$0.26	-4.4%	-7.5%	-21.8%
ANZ Group (ANZ)	$31.27	-$1.3	-4.0%	+0.4%	+22.8%
Spartan Resources (SPR)	$1.130	-$0.045	-3.8%	-19.3%	+158.5%
Audinate Group (AD8)	$9.14	-$0.36	-3.8%	-13.1%	-30.0%
Zip Co. (ZIP)	$3.38	-$0.12	-3.4%	+15.4%	+801.3%
Resolute Mining (RSG)	$0.430	-$0.015	-3.4%	-46.3%	+17.8%
Imdex (IMD)	$2.61	-$0.09	-3.3%	+9.2%	+61.1%
Rio Tinto (RIO)	$113.66	-$3.88	-3.3%	-6.9%	-5.6%
Iperionx (IPX)	$3.89	-$0.13	-3.2%	+9.3%	+177.9%
Emerald Resources (EMR)	$3.63	-$0.11	-2.9%	-12.7%	+41.8%
West African Resources (WAF)	$1.490	-$0.045	-2.9%	-3.6%	+80.6%

The worst performing ASX stocks today

Economy

Today

AUS Wage Price Index September quarter
- +0.8% and +3.5% p.a. vs +0.9% q/q and +3.6% p.a. forecast and +0.8% q/q and 4.0% p.a. in the June quarter
- So, better than expected and a solid decline on June quarter wages growth, and does give the RBA a modicum of extra breathing room – but lower wages growth is less likely to stoke economic growth
- Note, this is the first time wage growth has dipped below 4.0% since the June quarter of last year

Later this week

Thursday

00:30 USA Core Consumer Price Index (CPI) October (+0.3% m/m and +3.3% p.a. forecast vs +0.3% m/m and +3.3% p.a. in September)
10:00 AUS RBA Governor Michelle Bullock speaks
11:30 AUS Employment change October (+25,200 jobs forecast vs +64,100 jobs in September), Unemployment rate forecast steady at 4.1% in September)

Friday

00:30 USA Core Producer Price Index October (PPI) (+0.2% m/m and +2.0% p.a. forecast vs +0.2% m/m and +2.0% p.a. in September)
07:00 USA Federal Reserve Chairman Jerome Powell speaks
12:30 CHN Data Dump:
- New Home Prices m/m (-0.7% m/m previous)
- Industrial Production y/y (+5.5% y/y forecast vs +5.4% y/y previous)
- Retail Sales y/y (+3.8% y/y forecast vs +3.2% y/y previous)
- Fixed Asset Investment ytd/y (+3.5% ytd/y forecast vs +3.4% ytd/y previous)
- Unemployment Rate (steady at 5.1%)

Saturday

00:30 USA Core Retail Sales October (+0.2% m/m forecast vs +0.5% m/m in September)

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More News

Interesting Movers

Trading higher

+28.3% Fineos Corporation (FCL) - Investor Presentation
+8.8% Wildcat Resources (WC8) - No news, this week's strong rally in China in lithium minerals prices continued today
+8.6% Paladin Energy (PDN) - No news since yesterday's Langer Heinrich Mine update and revision of FY25 guidance, generally positive response from brokers though, including one rating upgrade to BUY at Argonaut Securities (see Broker Moves section below for more details)
+7.2% Nexgen Energy (NXG) - High-Grade Expansion at Patterson Corridor East, rise is consistent with prevailing short and long term uptrends (watch out for this one in tomorrow's ChartWatch ASX Daily Scans Uptrends list!) 🔎📈
+6.2% James Hardie Industries (JHX) - Q2 FY25 Results
+6.1% Ora Banda Mining (OBM) - No news, bouncing from sharp pullback in gold stocks as a result of adverse US election result
+6.0% OFX Group (OFX) - Change of Director's Interest Notice (on market purchase of nearly $250k - a day after big sell off on the back of yesterday's 1H25 Report and Accounts)
+4.4% Vulcan Energy Resources (VUL) - Continued positive response to yesterday's Receipt of EUR100m funding from German Federal Ministry, rise is consistent with prevailing short and long term uptrends (a ChartWatch ASX Daily Scans Uptrends lists regular!) 🔎📈
+3.8% Avita Medical (AVH) - AVITA Medical Q3 2024 Investor Presentation and AVITA Medical to Expand into Australia and New Zealand, rise is consistent with prevailing short term uptrend, long term trend is transitioning from down to up (a recent addition to ChartWatch ASX Daily Scans Uptrends lists!) 🔎📈
+3.0% Sayona Mining (SYA) - No news, ditto likely benefiting from strong lithium minerals prices

Trading lower

-22.2% Nuix (NXL) - Annual General Meeting 2024 Chairman and Group CEO Address
-7.4% Life360 (360) - Q3 2024 Results and Q3 2024 Investor Presentation
-7.2% Mineral Resources (MIN) - Bald Hill Operations and Mineral Resources Update and Response to ASX Query Letter (completely missed out on lithium minerals rally this week! 🤔), fall is consistent with prevailing short and long term downtrends (a ChartWatch ASX Daily Scans Downtrends lists regular!) 🔎📈
-6.6% Appen (APX) - No news, pullback from recent monster rally…generally weaker ASX Technology sector today
-5.9% Tabcorp (TAH) - No news, fall is consistent with prevailing long term downtrends (a ChartWatch ASX Daily Scans Downtrends lists regular!) 🔎📈
-5.6% EML Payments (EML) - No news, fall is consistent with prevailing long term downtrends (a ChartWatch ASX Daily Scans Downtrends lists regular!) 🔎📈
-4.8% Insignia Financial (IFL) - FY25 Guidance update and FY24 Pro Forma Segment Detail and Strategy Update
-4.8% Magellan Financial Group (MFG) - Resignation of COO/CFO
-4.6% Sims (SGM) - Chair's Address to Shareholders
-4.6% Light & Wonder (LNW) - Quarterly Report for Q3 2024
-4.5% Clearview Wealth (CVW) - Continued negative response to 8 November 2024 AGM Addresses to Shareholders and proceedings, fall is consistent with prevailing short and long term downtrends 🔎📈
-4.4% Firefly Metals (FFM) - No news since yesterday's Investor Presentation - UBS Australasia Conference, tough day for copper and gold stocks on weaker commodities prices
-4.4% NIB (NHF) - Continued negative response to yesterday's nib guidance for FY25, 2 x broker rating downgrades (see Broker Moves section below for more details), fall is consistent with prevailing short and long term downtrends (a ChartWatch ASX Daily Scans Downtrends lists regular!) 🔎📈

Broker Notes

29METALS (29M)
- Retained at sell at Canaccord Genuity; Price Target: $0.29
Acrow (ACF)
- Retained at add at Morgans; Price Target: $1.30
- Retained at buy at Ord Minnett; Price Target: $1.29 from $1.25
- Retained at buy at Shaw and Partners; Price Target: $1.30
Adriatic Metals (ADT)
- Retained at buy at Canaccord Genuity; Price Target: $4.80
Aristocrat Leisure (ALL)
- Retained at outperform at Macquarie; Price Target: $67.00
- Retained at overweight at Morgan Stanley; Price Target: $67.00
ARB Corporation (ARB)
- Retained at buy at Ord Minnett; Price Target: $47.15 from $47.00
Abacus Storage King (ASK)
- Retained at buy at Shaw and Partners; Price Target: $1.35
Andean Silver (ASL)
- Retained at buy at Canaccord Genuity; Price Target: $2.85
Aurizon (AZJ)
- Retained at neutral at Citi; Price Target: $3.50 from $3.55
- Retained at hold at CLSA; Price Target: $3.50 from $3.40
- Retained at buy at Jefferies; Price Target: $4.08
- Retained at neutral at Macquarie; Price Target: $3.57 from $3.60
- Retained at sector perform at RBC Capital Markets; Price Target: $3.50
Bellevue Gold (BGL)
- Retained at buy at Canaccord Genuity; Price Target: $2.25
Brickworks (BKW)
- Upgraded to buy from hold at Bell Potter; Price Target: $32.00 from $31.00
Brightstar Resources (BTR)
- Retained at buy at Canaccord Genuity; Price Target: $0.06
Commonwealth Bank of Australia (CBA)
- Retained at sell at Citi; Price Target: $91.50
- Retained at sell at UBS; Price Target: $110.00
Collins Foods (CKF)
- Retained at add at Morgans; Price Target: $10.50 from $8.70
Capricorn Metals (CMM)
- Retained at buy at Canaccord Genuity; Price Target: $8.10
Coles Group (COL)
- Retained at outperform at Macquarie; Price Target: $19.50
Clearview Wealth (CVW)
- Retained at add at Morgans; Price Target: $0.58 from $0.81
Catalyst Metals (CYL)
- Retained at buy at Canaccord Genuity; Price Target: $4.00
De Grey Mining (DEG)
- Retained at buy at Canaccord Genuity; Price Target: $2.90
Dexus Convenience Retail Reit (DXC)
- Retained at accumulate at Ord Minnett; Price Target: $3.11 from $3.01
Emerald Resources (EMR)
- Retained at buy at Canaccord Genuity; Price Target: $5.00
Evolution Mining (EVN)
- Retained at buy at Canaccord Genuity; Price Target: $5.20
Fortescue (FMG)
- Retained at neutral at Citi; Price Target: $19.40
Fleetpartners Group (FPR)
- Retained at buy at Citi; Price Target: $4.10
- Upgraded to outperform from hold at CLSA; Price Target: $3.55
Genesis Minerals (GMD)
- Retained at buy at Canaccord Genuity; Price Target: $3.80
Gold Road Resources (GOR)
- Retained at buy at Canaccord Genuity; Price Target: $2.45
Hillgrove Resources (HGO)
- Retained at buy at Canaccord Genuity; Price Target: $0.10
Helloworld Travel (HLO)
- Retained at buy at Shaw and Partners; Price Target: $3.50
Hansen Technologies (HSN)
- Upgraded to outperform from sector perform at RBC Capital Markets; Price Target: $6.00 from $5.00
Iluka Resources (ILU)
- Retained at outperform at Macquarie; Price Target: $7.10
- Upgraded to buy from accumulate at Ord Minnett; Price Target: $6.30
Imdex (IMD)
- Retained at sell at Citi; Price Target: $1.95
Imricor Medical Systems (IMR)
- Retained at buy at Morgans; Price Target: $1.08 from $0.94
James Hardie Industries (JHX)
- Retained at neutral at Citi; Price Target: $50.90
- Retained at outperform at Macquarie; Price Target: $64.20
- Retained at buy at UBS; Price Target: $56.50
Kingsgate Consolidated (KCN)
- Retained at buy at Canaccord Genuity; Price Target: $3.40
Lifestyle Communities (LIC)
- Upgraded to hold from sell at Bell Potter; Price Target: $8.90 from $8.20
- Retained at hold at Canaccord Genuity; Price Target: $9.75 from $10.00
- Retained at neutral at Citi; Price Target: $9.50
- Retained at buy at Goldman Sachs; Price Target: $9.95 from $11.30
- Retained at buy at Moelis Australia; Price Target: $12.00 from $13.10
Arcadium Lithium (LTM)
- Retained at neutral at Macquarie; Price Target: $8.70
Liontown Resources (LTR)
- Downgraded to underperform from neutral at Bank of America; Price Target: $0.80 from $0.90
Metals Acquisition (MAC)
- Retained at buy at Canaccord Genuity; Price Target: $22.00
Mineral Resources (MIN)
- Retained at neutral at Macquarie; Price Target: $38.00
NIB (NHF)
- Retained at neutral at Citi; Price Target: $6.45 from $6.55
- Retained at neutral at Jarden; Price Target: $7.20 from $6.85
- Downgraded to hold from buy at Jefferies; Price Target: $6.60 from $7.10
- Retained at overweight at JP Morgan; Price Target: $6.75 from $7.30
- Downgraded to underperform from neutral at Macquarie; Price Target: $5.45 from $6.30
- Retained at equal-weight at Morgan Stanley; Price Target: $6.40
Northern Star Resources (NST)
- Retained at buy at Canaccord Genuity; Price Target: $21.95
Ora Banda Mining (OBM)
- Retained at buy at Canaccord Genuity; Price Target: $0.85
Origin Energy (ORG)
- Retained at buy at Citi; Price Target: $11.00
Predictive Discovery (PDI)
- Retained at buy at Canaccord Genuity; Price Target: $0.50
Paladin Energy (PDN)
- Upgraded to buy from hold at Argonaut Securities; Price Target: $10.45 from $10.40
- Retained at buy at Canaccord Genuity; Price Target: $15.20 from $16.30
- Retained at buy at Citi; Price Target: $11.50 from $14.60
- Retained at buy at Jefferies; Price Target: $14.00
- Retained at overweight at Morgan Stanley; Price Target: $12.30
- Retained at buy at Shaw and Partners; Price Target: $15.80 from $16.00
Pantoro (PNR)
- Retained at buy at Canaccord Genuity; Price Target: $0.18
Perenti (PRN)
- Initiated at buy at Bell Potter; Price Target: $1.47
Perseus Mining (PRU)
- Retained at buy at Canaccord Genuity; Price Target: $4.00
Ramelius Resources (RMS)
- Retained at buy at Canaccord Genuity; Price Target: $3.25
Regis Resources (RRL)
- Retained at hold at Canaccord Genuity; Price Target: $2.65
Resolute Mining (RSG)
- Retained at buy at Canaccord Genuity; Price Target: $1.75
Reliance Worldwide Corporation (RWC)
- Retained at buy at Citi; Price Target: $5.85
Rox Resources (RXL)
- Retained at buy at Canaccord Genuity; Price Target: $0.55
Sandfire Resources (SFR)
- Retained at hold at Canaccord Genuity; Price Target: $11.25
Sheffield Resources (SFX)
- Initiated at hold at Ord Minnett; Price Target: $0.08
Sims (SGM)
- Retained at buy at Citi; Price Target: $13.00
Santana Minerals (SMI)
- Retained at buy at Canaccord Genuity; Price Target: $1.16
Spartan Resources (SPR)
- Retained at buy at Canaccord Genuity; Price Target: $1.70
Turaco Gold (TCG)
- Retained at buy at Canaccord Genuity; Price Target: $0.70
Toubani Resources (TRE)
- Retained at buy at Canaccord Genuity; Price Target: $1.25
Titan Minerals (TTM)
- Retained at buy at Canaccord Genuity; Price Target: $1.30
Vault Minerals (VAU)
- Retained at buy at Canaccord Genuity; Price Target: $0.51
West African Resources (WAF)
- Retained at buy at Canaccord Genuity; Price Target: $3.70
Westgold Resources (WGX)
- Retained at buy at Canaccord Genuity; Price Target: $4.40
Woolworths Group (WOW)
- Initiated at hold at Bell Potter; Price Target: $31.75
- Retained at neutral at Macquarie; Price Target: $32.50
Xero (XRO)
- Retained at buy at Citi; Price Target: $185.00 from $158.20

Scans

Top Gainers

Code	Company	Last	% Chg
SWF	Selfwealth Ltd	$0.205	+70.83%
8IH	8I Holdings Ltd	$0.013	+62.50%
DUB	Dubber Corporatio...	$0.028	+47.37%
OLL	Openlearning Ltd	$0.028	+47.37%
FFG	Fatfish Group Ltd	$0.017	+30.77%

View all top gainers

Top Fallers

Code	Company	Last	% Chg
OCT	Octava Minerals Ltd	$0.10	-23.08%
NXL	NUIX Ltd	$5.90	-22.16%
OVT	Ovanti Ltd	$0.032	-21.95%
MNC	Merino & Co. Ltd	$0.58	-19.44%
ADO	Anteotech Ltd	$0.022	-18.52%

View all top fallers

52 Week Highs

Code	Company	Last	% Chg
SWF	Selfwealth Ltd	$0.205	+70.83%
OLL	Openlearning Ltd	$0.028	+47.37%
MHK	Metal Hawk Ltd	$0.25	+21.95%
ZEO	Zeotech Ltd	$0.059	+15.69%
TYP	Tryptamine Therap...	$0.054	+14.89%

View all 52 week highs

52 Week Lows

Code	Company	Last	% Chg
PVW	PVW Resources Ltd	$0.018	-14.29%
E79	E79 Gold Mines Ltd	$0.023	-11.54%
MRZ	Mont Royal Resour...	$0.041	-8.89%
NMLDA	Navarre Minerals Ltd	$0.105	-8.70%
OZM	Ozaurum Resources...	$0.033	-8.33%

View all 52 week lows

Near Highs

Code	Company	Last	% Chg
PCI	Perpetual Credit ...	$1.155	-0.86%
WVOL	Ishares MSCI Worl...	$41.65	-0.24%
GCI	Gryphon Capital I...	$2.05	0.00%
VVLU	Vanguard Global V...	$73.75	-1.03%
IHD	Ishares S&P/ASX D...	$14.23	-0.91%

View all near highs

Relative Strength Index (RSI) Oversold

Code	Company	Last	% Chg
RSG	Resolute Mining Ltd	$0.43	-3.37%
NDO	Nido Education Ltd	$0.77	-1.28%
IMB	Intelligent Monit...	$0.47	-1.05%
SMP	Smartpay Holdings...	$0.595	-3.25%
EGL	Environmental Gro...	$0.275	-14.06%