Earnings were largely in line with market consensus, although revenue was better than expected. Guidance has been upgraded.
James Hardie’s 3Q21 NPAT of $123.3m was up 60% on the same time last year. FY21 NPAT guidance was upgraded from $380-420m to $440-450m.
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JHX now trades on a forward yield of 1.8%. US70c special dividend was also announced.
We look for a switch to Algo Engine buy conditions in 2021.
