Estia Health Ltd. stock under pressure due to key personnel changes

Key Personnel Changes: Estia Health Ltd.’s (ASX: EHE) stock fell 1.88% on July 23, 2018 after the company announced CEO & COO changes. The company has replaced its chief executive Norah Barlow with chief operating officer and deputy chief executive Ian Thorley. Mr. Thorley will join as CEO of EHE in November. Further, the current acting managing director of Opal Aged Care, Sean Bilton, will join as Estia’s deputy chief executive and chief operating officer. Additionally, for FY 18, the company expects capital expenditure of circa $40 million for the second half of FY18 and circa $210 million to the end of FY20. The company had reaffirmed the full-year EBITDA guidance for FY18 of mid-single digit percentage growth, if there are no material changes in market or regulatory conditions. Meanwhile, EHE stock has fallen 6.73% in three months as on July 20, 2018  and is trading at a P/E of 20.36x.


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