Estia Health Ltd Lower than estimated performance

Lower than estimated performance: Estia Health Ltd (ASX: EHE) stock crashed over 16.7% on August 29, 2016 as the group came out with lower than estimated results. Even though the group delivered a revenue growth of 50% to $446.5m in fiscal year of 2016, the underlying earnings before interest, taxation, depreciation and amortization (EBITDA), rose 31% to $92.7 million, which is 2.4% below the guidance provided. Moreover, the group’s underlying NPAT and EPS also failed to meet guidance which were 7.5% and 5.7% below the estimates, respectively, on the back of further depreciation due to positive independent revaluations of purchased homes at the year-end; and more than expected finance costs. EHE stock already fell over 15.17% in the last three months (as at August 26, 2016) but still trading at a higher P/E.

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