4 stories mentioning ASX:ADHUpdated 36d ago
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Adairs (ASX:ADH) has an average rating of overweight and mean price target of AU$1.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Australian shares declined on Wednesday as investors reacted to a surge in oil prices on the back of renewed hostilities between the US and Iran in the Middle East.The S&P/ASX 200 Index fell by 0.21%, or 18.80 points, to close at 8,785.10.Brent crude oil futures rose over 3% to trade around $76 per barrel as the US attacked targets in Iran after Iran targeted shipping in the Strait of Hormuz. The US also moved to withdraw a sanctions waiver allowing Iran to sell oil on the global market, which Iran said breached the memorandum of understanding to end the conflict.On the domestic front, the seasonally adjusted estimate for the number of dwellings approved in Australia fell 1.1% month-over-month in May to 17,019 after edging 0.2% lower in April, the Australian Bureau of Statistics said.The number of dwellings commenced in Australia fell 11.2% to 48,012 in the March quarter from the previous quarter, but rose 0.2% from the same period a year earlier.In company news, ResMed (ASX:RMD) agreed to sell its MatrixCare business to healthcare-focused private equity firm Frazier Healthcare Partners in a $490 million all-cash deal.The US Forest Service has issued the final record of decision for South32 (ASX:S32) unit South32 Hermosa's proposed $2.16 billion Hermosa critical mineral project in Arizona's Santa Cruz County, marking a major regulatory milestone for the planned mining and processing operation.Lastly, Adairs (ASX:ADH) expects fiscal year 2026 group underlying earnings before interest and tax (EBIT) in the range of AU$53.5 million to AU$55.5 million, down 1.3% at the midpoint from fiscal year 2025. The company said it expects to recognize a non-cash impairment of the Focus on Furniture goodwill and brand intangible in the range of AU$62 million to AU$68 million to be excluded from underlying earnings.
(Updates to add stock movement in the headline and the last paragraph)Adairs (ASX:ADH) expects fiscal 2026 group underlying earnings before interest and tax (EBIT) in the range of AU$53.5 million to AU$55.5 million, down 1.3% at the midpoint on fiscal 2025, according to a Wednesday Australian bourse filing.The company anticipates group sales in the range of AU$640 million to AU$641.5 million, up 3.7% at the midpoint.The company said it expects to recognize a non-cash impairment of the Focus on Furniture goodwill and brand intangible in the range of AU$62 million to AU$68 million, or AU$56 million to AU$60 million after tax, to be excluded from underlying earnings.After the impairment and other significant items, the company expects to report a statutory net loss after tax of about AU$43 million for fiscal 2026, per the filing.The company's shares fell around 4% in recent Wednesday trade.
Adairs' (ASX:ADH) shares rose over 3% in recent trading on Tuesday after it said in a filing late on Monday that billionaire Brett Blundy became a substantial holder of the firm.Brett Blundy, BBFIT Investments, and BBRC International, as trustee for The BB Family International Trust, acquired voting power of 5.1% as May 7. They hold 9.1 million of the firm's fully-paid ordinary shares.
