Forsyth Barr cuts aged care earnings forecasts by 20%

Ryman Healthcare is the most highly geared of the sector. (Image: supplied)

Thu, 27 Jan 2022

Stockbroker Forsyth Barr is downgrading its earnings expectations for the stocks in the aged care sector by an average of about 20% because it expects "meaningfully lower resales and new sales" in the first quarter of this year as well as higher operating costs.Analysts Aaron Ibbotson and Matt Montgomerie noted that the selloff of stocks in the sector has accelerated and that they're down about 20% in the last three months, underperforming the S&P/NZX 50 Index by about 10%.The selloff has been driven by fears about house price...

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