Boral Watch List?

Moody’s Rating agency has lowered Boral’s issuer rating from ‘Baa2’ to ‘Baa3’. The rating outlook has been revised from negative to stable. Moody’s have lowered Boral’s short-term rating from ‘P-2’ to ‘P-3’ The market is punishing the company with a 3% decline in the share price.

The company share price has been in decline for more than a year. Recently the company updates the market with Net Profit After Tax for the first quarter of $22 million below forecast. Boral now expects FY 2012 NPAT before significant items to be within the range of $100 million to $110 million, assuming two property sales take place prior to 30 June.

Boral will announce its FY 2012 results on 22 August 2012.

Given the fact that Moody has revised up Boral’s Outlook it could be a signal for an improvement in the real estate market in the coming year. With shares price at nearly record low and offering 2.5% discount in reinvestment plan and expecting an improvement in the construction industry in the year ahead. Boral could be put in to the watch list. Let see if the share price turn back around in the coming days.

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