"I'm not a big fan of big-bang foreign acquisitions, so I feel some irony when I say that REH may actually be thankful for its Morsco foray - even if it doesn't meet its full promise."
Maybe, maybe not. US-listed homebuilders (not a perfect analog for Morsco, but an adjacency) have traded off over 20% since the Morsco deal closed, because - surprise, surprise - higher US rates are starting to feed into the US housing cycle (flat to declining prices, housing starts tapering etc.).
~15x EBITDA on what is increasingly looking like earnings at or near the top of the cycle. I suspect the Advent guys are pretty chuffed, just quietly.
Ann: Profit Guidance, page-14
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Last
$23.72 |
Change
-0.500(2.06%) |
Mkt cap ! $18.39B | |||
| Open | High | Low | Value | Volume |
| $24.22 | $24.32 | $23.70 | $9.818M | 411.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 952 | $23.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $23.81 | 1032 | 1 |
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| Last trade - 16.10pm 21/11/2024 (20 minute delay) ? |
| REH (ASX) Chart |
