If this was another time this stock would probably have risen by 15% on that sort of update.
(And from a higher starting point, to begin with)
However, the current Buyers' Strike - which commenced around past 3/4 months ago - means that situations like this present themselves as investment opportunities.
By my reckoning, even if all the cash is considered to be in performance guarantee/bonding lock-up (very conservative, obviously), after today's update the stock is trading on an EV/EBITDA multiple of ~4.5x and - given there is merely modest D&A - EV/EBIT is even more attractive, being around 6.0x.
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Ann: Market Update, page-9
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Last
$1.73 |
Change
0.045(2.67%) |
Mkt cap ! $455.3M | |||
| Open | High | Low | Value | Volume |
| $1.70 | $1.74 | $1.69 | $442.5K | 257.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 809 | $1.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.73 | 12699 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| SXE (ASX) Chart |