FLEETWOOD LIMITED (FWD)
Share Price Analysis and Chart

24/06/2026

1

Buy

$2.20

48.65%

Moelis maintains a Buy rating on Fleetwood with its $2.20 target price following the company’s streamlined focus on Community Solutions and Building Solutions after exiting the RV business and closing the underperforming Smithfield manufacturing facility.

FY26-FY28e EPS estimates have been revised by -2%, 46% and 10% respectively to 27.4c, 24.6c and 16.9c, with FY26 impacted by a delayed return to profitability in Building Solutions while FY27 benefits from higher contracted occupancy and improved operating assumptions.

Community Solutions remains the key earnings contributor, with 1H27 contracted occupancy at 98% and FY27 occupancy forecast at 71%, supported by potential conversion of the Searipple Rio contract extension.

Restructuring costs are expected at $12m-$14m in FY26 for Smithfield and $8m-$10m for the RV exit, while annualised cost savings of $8m-$9m are expected from Q2 FY27 onwards.

The analyst views the balance sheet as strong with forecast Jun-26 end cash of $45m and sees the removal of recent business detractors as supportive of the investment outlook.

FORECAST
Moelis forecasts a full year FY26 dividend of 9.50 cents and EPS of 27.40 cents.
Moelis forecasts a full year FY27 dividend of 24.60 cents and EPS of 24.60 cents.