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Jefferies, Morningstar 'optimistic' on Australia's Sims after FY26 earnings outlook

ReutersMar 18, 2026 7:22 PM

Jefferies says Sims's SGM.AX trading update 'well ahead' of consensus, Morningstar follows suit

On Wednesday, the scrap recycler said it expects FY26 underlying earnings before interest and taxes (EBIT) between A$350 million ($248.68 million) and A$400 million, up from A$174.9 million in FY25

For FY26, Jefferies raises EBIT estimate, Morningstar lifts underlying EBIT estimate of co

Jefferies notes co to benefit from joint ventures in North America and Saudi Arabia for its metals recycling business

Morningstar says data center demand for metals, elevated copper, aluminum prices would drive profits in North American operations

Jefferies maintains 'underperform' rating on the Sims stock, raises PT to A$19 from A$17.4

Five of 12 analysts rate the stock "buy" or higher, four "hold" and three "sell" or lower; their median PT is A$22.18 – LSEG data

SGM up 15% YTD, including the day's moves

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