I don't hold OML but it is on my watchlist and today's drop has made me consider buying in. I suspect the drop was due to the response to the trading update, slide 17 of the presentation.
Softening media market at the end of Q1 and into Q2 due to a decline in the
broader macroeconomic environment in Australia and New Zealand
• Q1 revenues grew +3% over Q1 2022, with trading softening significantly in March
vs forward pacing as at mid February with a decline in short term in-month
bookings vs the pcp – particularly in Government spend (largest pcp category)
• Road +7% and Fly +88% continue to grow strongly year on year, and oOh! taking
market share in 3 out of 4 Australian OMA categories1
• Street revenue continues to be impacted by launch of City of Sydney, with the
share loss in this category resulting in an 1.9% share loss overall in Q12
• April media revenue is particularly soft, pacing at -10% vs pcp, however May and
June media revenue stronger and pacing up on pcp, with Q2 currently slightly
ahead vs the pcp
• Capex March YTD on track for guidance of $40-50M for CY23
• Share buyback commenced on 5th September 2022, with over 36 million shares
bought back. This represents over 70% completion of the buyback program.
Goldman Sachs for its part just did a broker update. It has stated that OML has underperformed the industry as a whole but stated that some areas of the business are outperforming and thus still maintains its Buy rating. You can find their update in the Commsec site.
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Mkt cap ! $781.2M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
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1 | 803 | $1.45 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.46 | 2008 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 803 | 1.445 |
1 | 803 | 1.440 |
1 | 803 | 1.435 |
1 | 803 | 1.430 |
1 | 803 | 1.425 |
Price($) | Vol. | No. |
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1.460 | 2008 | 1 |
1.465 | 800 | 1 |
1.470 | 803 | 1 |
1.475 | 8634 | 3 |
1.480 | 11049 | 3 |
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