Luke-Warm U.S. Housing Starts May Soften Hardie’s 4Q 2019 but Shares Remain Attractive
We previously flagged the need for strong U.S. housing starts in narrow-moat James Hardie’s fourth-quarter fiscal 2019. And while January was a robust showing indeed, housing starts underwhelmed in February. The required 930,000 seasonally adjusted annualised rate, or SAAR, of single-family starts in Hardie’s fourth quarter has clearly proven elusive and a slight miss of our full-year fiscal 2019 EBIT forecast of USD 442 million is therefore possible. Should March single-family housing starts ma...James Hardie Industries is engaged in the manufacturing and selling of fiber cement products and systems for internal and external building construction applications in the United States, Australia, New Zealand, the Philippines and Europe. Co.'s fiber cement products are used in a number of markets, including new residential construction, manufactured housing, repair and remodeling and a variety of commercial and industrial applications. Co. manufactures numerous types of fiber cement products with a variety of patterned profiles and surface finishes for a range of applications, including external siding and soffit lining, internal linings, facades, and floor and tile underlayments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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