Citi analysts have reduced their price target for Australia’s Ramsay Health Care (ASX:RHC) to A$50.5 per share, down from A$58 per share.

The brokerage indicated that the fiscal 2024 outlook for the country’s largest listed hospital operator was underwhelming.

In addition to this, Citi has reduced FY24 and FY25 earnings per share estimates by 19% and 12%, respectively.

These adjustments were made in response to escalated operating and capital expenditures as well as higher interest expense.

Costs for the FY24 year proposed by the company were also seen as higher than initially projected.

Among 17 analysts, five rated the stock with a ‘buy’ or higher, while ten suggest a ‘hold’.

Only two analysts recommended a ‘sell’.

As per a consensus, the median price target is A$61.

Over this year, the shares of the company have faced a decline of 24.7% leading up to the last close.

Ramsay Health Care (ASX:RHC) is Australia’s largest listed hospital operator.

Citi has raised its position on Accent Group to a ‘buy’ assessment and increased its price target (PT) for the clothing retailer, driven by strong annual results.

The entity shifted its status from ‘neutral,’ boosting its PT to A$2.12 from A$1.80.

Reporting an increase in yearly net profits after taxes, Accent displayed figures of A$88.7 million, compared to the preceding year’s A$31.5 million.

Total sales for the fiscal year reached A$1.57 billion, marking a 24% increase from the year prior.

Citi notes that sales trends surpass expectations and comparisons do not forecast greater challenges for the first half of FY24.

The brokerage has also increased its NPAT estimates for FY24 and FY25 by 8% and 18% respectively.

A Refinitiv data study reveals that of 10 analysts, 1 rates the stock as ‘buy’, 7 rate it ‘hold’ and 2 as ‘sell’, with a median PT of A$1.95.

This year, the company’s stock has seen a 16.1% increase as of the most recent closure.

Accent Group is a leading clothing retailer in Australia.

Jefferies, a reputed brokerage, has revised downward its earnings predictions for fiscal 2024 for Qantas Airways (ASX:QAN), Australia’s flagship carrier.

This reduction in estimates stems from increased fuel expenses and the anticipated postponement of the airline sector’s recovery until the second half of fiscal 2024.

The FY24 Earnings Per Share (EPS) has been trimmed by 4.6%, according to Jefferies.

Furthermore, they have slashed the Price Target from A$9.15/share to A$8.78/share.

Jefferies believes that the FY24 results of Qantas will mirror that of FY23.

As of the last closure, the stock has seen a 3.5% increase this year.

An aggregated review of analysts' ratings shows 14 out of 16 rating the stock as ‘buy’ or higher, while two maintain a ‘hold’ position.

Their median Price Target is A$8.50, according to Refinitiv data.

Qantas Airways (ASX:QAN) is Australia’s largest airline and flag carrier, operating extensive domestic and international service.

Financial analysts at Citi have revised their price target for Australia’s diversified miner, South32 (ASX:S32), lowering it to A$3.80 from A$4.05 following the announcement of the company’s FY23 results.

South32 reported a net debt of US$483 million - a sum higher than the initially projected estimates.

South32 (ASX:S32) is speculated to face significant impacts more than its contemporaries owing to escalating operational expenditures and rapidly fluctuating cost curves for its foundational commodities.

The financial brokerage maintains a ‘neutral’ rating for the stock.

In addition to the amended price target, Citi also revises the FY24 and FY25 EBITDA guidance by reducing it 24% and 10%, respectively.

The underlying net profit after tax estimates have also been downgraded by 51% and 18% for FY24 and FY25.

As per data from Refinitiv, out of 15 analysts, 11 rate the stock as a ‘buy’ or higher, whereas four hold a ‘neutral’ stance; their median price target is set at A$4.20.

The stock value of South32 (ASX:S32) has witnessed an 8.5% decline this year, through the last closing.

South32 (ASX:S32) is a diversified miner based in Australia.

Copper miners are witnessing a drop, mirroring similar movements in the value of the red metal itself.

The benchmark copper (3-month outlook) on the London Metal Exchange has descended by 0.7% to $8,392 per tonne.

This drop came despite promising signs of increased demand for metals in China, which were overshadowed by worries surrounding high interest rates potentially stunting global growth.

U.S.-listed shares of world-renowned mining groups Rio Tinto (ASX:RIO) and BHP Group (ASX:BHP) have seen respective declines of 1.4% and 2.1%.

Furthermore, Southern Copper (ASX:SCCO) and Freeport-McMoRan (ASX:FCX) have both seen their shares fall 0.7%, followed by Canadian miners such as Ero Copper (ASX:ERO), Teck Resources (ASX:TECKb), Hudbay Minerals (ASX:HBM), and First Quantum Minerals (ASX:FM) which have recorded decreases between 0.6% and 1.8%.

Rio Tinto (ASX:RIO) is a global mining giant specializing in finding, mining, and processing the Earth’s mineral resources.

Shriro Holdings (ASX:SHM) recently shared its fiscal earnings with key insights on year-over-year company performance.

The Full Year Net Profit After Tax (NPAT) for the firm was reported at A$8.0 million, indicating a 40.7 percent decline compared to previous corresponding period (PCP).

Likewise, it elaborated their full year revenue at A$152.4 million, reflecting a 20.5 percent downfall against PCP.

The projections for FY24 EBITDA is expected to land within a range of A$15 million to A$17 million.

In further developments, Shriro declared a final fully franked dividend of 6.5 AU cents per share for its stakeholders.

Shriro Holdings is a company majorly engrossed in the distribution of a wide range of kitchen appliances and consumer electronics.

Plato Income Maximiser has just released its financial results, stating that the fiscal year net profit attributable rose to A$57.4 million.

Moreover, the company’s revenue from ordinary, continuing activities came in at A$71.3 million for the same period.

Plato Income Maximiser is a company focused on generating income for retirees.

Honglin Zhao, the CEO of Grange Resources (ASX:GRR), has announced his intentions to retire from the Board.

This significant announcement marks an impending change in the company’s leadership structure.

Grange Resources is a mining company specializing in Iron Ore production.

Archer Materials (ASX:AXE) stated that the loss from ordinary activities after tax for the year is A$9.0 million.

This is a decrease from the previous year, which reported a loss of A$14.1 million.

Archer Materials is a resources company with a focus on the development and integration of advanced materials.

Clarity Pharmaceuticals has reported its annual loss to be A$24.6 million.

This is slightly higher than the previous year’s loss of A$23.8 million.

Clarity Pharmaceuticals (ASX:CU6) offers pharmaceutical services specializing in nuclear medicine and molecular imaging products.