Select Harvests Loses Bull After Equity Raise -- Market Talk

Dow Jones

Sep 23, 2024

0106 GMT - Select Harvests loses its bull at Wilsons following the almond farmer's disappointing trading update and new equity raise. The Australian broker's analysts tell clients in a note that the A$80 million equity raise derisks the company's balance sheet but is dilutive. Select Harvests' FY 2024 earnings guidance is at the lower end of analyst expectations despite higher almond prices, they add. There is little change to their earnings forecasts through FY 2025, but they lower their Ebit expectations for FY 2026 by 7%. Wilsons cuts its target price 17% to A$4.57 and lowers its recommendation to market weight, from overweight. Shares are down 16% at A$3.705 after emerging from a trading halt. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 22, 2024 21:06 ET (01:06 GMT)

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The Australian broker's analysts tell clients in a note that the A$80 million equity raise derisks the company's balance sheet but is dilutive. Select Harvests' FY 2024 earnings guidance is at the lower end of analyst expectations despite higher almond prices, they add. There is little change to their earnings forecasts through FY 2025, but they lower their Ebit expectations for FY 2026 by 7%. Wilsons cuts its target price 17% to A$4.57 and lowers its recommendation to market weight, from overweight. Shares are down 16% at A$3.705 after emerging from a trading halt. 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The Australian broker's analysts tell clients in a note that the A$80 million equity raise derisks the company's balance sheet but is dilutive. Select Harvests' FY 2024 earnings guidance is at the lower end of analyst expectations despite higher almond prices, they add. There is little change to their earnings forecasts through FY 2025, but they lower their Ebit expectations for FY 2026 by 7%. Wilsons cuts its target price 17% to A$4.57 and lowers its recommendation to market weight, from overweight. Shares are down 16% at A$3.705 after emerging from a trading halt. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 22, 2024 21:06 ET (01:06 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7117","symbol_name":"农产品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2469138947","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2469138947","pubTimestamp":1727053560,"columns":[],"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":"0106 GMT - Select Harvests loses its bull at Wilsons following the almond farmer's disappointing trading update and new equity raise. The Australian broker's analysts tell clients in a note that the A$80 million equity raise derisks the company's balance sheet but is dilutive. Select Harvests' FY 2024 earnings guidance is at the lower end of analyst expectations despite higher almond prices, they add. There is little change to their earnings forecasts through FY 2025, but they lower their Ebit expectations for FY 2026 by 7%. Wilsons cuts its target price 17% to A$4.57 and lowers its recommendation to market weight, from overweight. Shares are down 16% at A$3.705 after emerging from a trading halt. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7117":"农产品","SHV.AU":"SELECT HARVESTS LTD","BK4215":"住宅房地产投资信托","BK7505":"食品股","EQR":"资产住宅公司","SLCT":"Select Bancorp Inc.","BK4588":"碎股","BK4585":"ETF&股票定投概念"},"translate_title":"Select Harvests在股权融资后失去牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EQR":1,"SHV.AU":0.9,"SLCT":1},"content_text":"0106 GMT - Select Harvests loses its bull at Wilsons following the almond farmer's disappointing trading update and new equity raise. The Australian broker's analysts tell clients in a note that the A$80 million equity raise derisks the company's balance sheet but is dilutive. Select Harvests' FY 2024 earnings guidance is at the lower end of analyst expectations despite higher almond prices, they add. There is little change to their earnings forecasts through FY 2025, but they lower their Ebit expectations for FY 2026 by 7%. Wilsons cuts its target price 17% to A$4.57 and lowers its recommendation to market weight, from overweight. Shares are down 16% at A$3.705 after emerging from a trading halt. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 22, 2024 21:06 ET (01:06 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}