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Australia's Sims rises after Jefferies, Morningstar raise FY26 earnings estimates

ReutersMar 19, 2026 12:22 AM

Shares of Australia's Sims SGM.AX up as much as 6% at A$21.93

Stock set for its fifth consecutive session of gains, if current trend holds

*Jefferies says scrap recycler's trading update is "well ahead" of consensus, Morningstar follows suit

On Wednesday, co 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 Sims' EBIT estimate, Morningstar lifts underlying EBIT estimate

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 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 17.9% YTD, including the day's moves

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