ASX:REHTrade Distributors
Reece (ASX:REH) Shares Carry A Premium As Margins Stall
Reece closed at A$16.90 on Monday, with the stock roughly flat over the past week but still well ahead over three months. That calm finish sits in sharp contrast to what the latest full year numbers actually say about sentiment. The company just turned A$9.4b of revenue into A$0.495 of earnings per share and lifted its dividend to A$0.1884 while also returning about A$401m through buybacks. The market is paying a P/E of 33.7x for that mix of modest margin pressure and ongoing capital returns...