I think there will be a short squeeze first (lots of shorters waiting to take profits). They have tipped earnings to be up to 10% below 2011 which is a significant downgrade but probably factored into the share price after DJS's downgrade. The biggest left field surprise is that they are lifting the dividend to 11.5c. I was definitely expecting a dividend cut to 10c. Most brokers were of the same conviction. I think the increased dividend will roast some of the shorts but as they say never say never. We saw how QBE got pummelled on its result. Have got my orders placed below in case we have a QBE like reaction.
FF yield now up to 10.9%.
MYR Price at posting:
$2.06 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)