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McGrath shares slide after agent exodus

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McGrath shares slide after agent exodus

McGrath shares slide after agent exodus*/

– Real estate group McGrath’s shares have been hammered after it admitted the loss of more than 10 per cent of agents from its company-owned offices will weigh on its full-year earnings.McGrath, which has not yet given guidance for full-year earnings, on Monday said it expected weak second-half results would fail to meet current estimates put out by analysts.The beleaguered real estate group on Monday said Bell Potter analysts had put out a forecast for full-year earnings of $20.9 million, and while those estimates appeared to be in line with first-half results, the company expected a weaker second half.
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McGrath shares slide after agent exodus

McGrath shares slide after agent exodus*/

– Real estate group McGrath’s shares have been hammered after it admitted the loss of more than 10 per cent of agents from its company-owned offices will weigh on its full-year earnings.McGrath, which has not yet given guidance for full-year earnings, on Monday said it expected weak second-half results would fail to meet current estimates put out by analysts.The beleaguered real estate group on Monday said Bell Potter analysts had put out a forecast for full-year earnings of $20.9 million, and while those estimates appeared to be in line with first-half results, the company expected a weaker second half.
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McGrath shares slump on soft property market, agent defections

McGrath shares slump on soft property market, agent defections*/

– Shares in high-profile real estate agency McGrath dived Monday after it signalled weak revenues, which has provided further confirmation that the tide is going out parts of the residential property boom.The company doesn’t provide earnings forecasts, although it did state that analysts’ estimates of its full-year profit outlook are too optimistic, while also blaming the defection of a number of high-profile agents for its woes.”The company has had issues moving into the public company domain,” one large institutional shareholder in the company said.
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