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The latest announcement is out from Austal ( (AU:ASB) ).
Austal Limited has received approval from the Foreign Investment Review Board and the Federal Treasurer for Hanwha Corporation to increase its equity shareholding in Austal from 9.9% to 19.9%. This decision is subject to conditions regarding sensitive information access and board nominations. Austal is in a strong financial position with a record revenue of $1.8 billion and an EBIT of $113 million in FY25, and it anticipates continued growth with a forecasted EBIT of $135 million in FY26. The company has a robust order book exceeding $13 billion and is expanding its US shipbuilding capacity. Hanwha’s increased stake may lead to partnerships and board positions, which Austal will evaluate for potential benefits to shareholders.
The most recent analyst rating on (AU:ASB) stock is a Hold with a A$7.86 price target. To see the full list of analyst forecasts on Austal stock, see the AU:ASB Stock Forecast page.
More about Austal
Austal Limited is a prominent player in the shipbuilding industry, known for its role as Australia’s sovereign shipbuilder under the Strategic Shipbuilding Agreement. The company is a major contributor to the US defense industrial base and has significant growth opportunities in its US and Australasia operations.
Average Trading Volume: 1,558,790
Technical Sentiment Signal: Buy
Current Market Cap: A$2.8B
See more data about ASB stock on TipRanks’ Stock Analysis page.