DURATEC LIMITED (DUR)
Share Price Analysis and Chart

26/02/2026

2

Downgrade to Accumulate from Buy

$2.15

-22.38%

Ord Minnett notes Duratec posted a first half result that was weaker than expected. The gross profit margin did expand to 20.3% and the broker acknowledges a more profitable platform is being built.

Outlook commentary appears bullish, with a $400m order book and $4.6bn pipeline.

The broker considers the business well-positioned to capitalise on the opportunities and increases its target to $2.15 from $1.95. As this is aligned with current pricing, the rating is moved to Accumulate from Buy.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 3.90 cents and EPS of 10.90 cents.
Ord Minnett forecasts a full year FY27 dividend of 7.20 cents and EPS of 14.40 cents.

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

03/12/2025

2

Outperform

-

-

Duratec did not offer any specific FY26 earnings guidance at its AGM, which Taylor Collison attributes to the probable lack of certainty around the Garden Island contract award.

The analyst remains confident of success but sees a likely chance of delay versus original expectations.

Beyond Garden Island, the company notes ongoing strength in defence with potential projects worth more than $15bn as well as possible works at Henderson in WA.

Mining continues to look robust, with energy supported by DXP Energy Solutions and the launch of Atec Facades assisting buildings and facades.

The broker tweaks earnings forecasts lower for the deferred timing on Garden Island. Outperform rating is maintained. No target price.

FORECAST
Taylor Collison forecasts a full year FY26 dividend of 5.60 cents and EPS of 10.00 cents.
Taylor Collison forecasts a full year FY27 dividend of 6.40 cents and EPS of 12.20 cents.