I think MYR looks like a fantastic contrarian buy for a number of reasons but probably stems from the fact that it has probably been the flag bearer for the ailing retail sector over the past few years.
Fundamentally however the business is profitable with strong operating revenue and fair sales. Additionally its Price to Sales is about 0.2, while its book value is about 0.6 when compared against the current market cap.
Currently it's P/E stands at about 8 or 9 which means so much bad news is priced in that even the faintest glimmer of anything promising should see a solid correction. Additionally its operating income vs. market cap is about 6 times, which for is a screaming value buy.
I bought a bunch today. Lets hope my analysis is right.
A Contrarian Buy
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Last
71.5¢ |
Change
-0.010(1.38%) |
Mkt cap ! $594.7M | |||
| Open | High | Low | Value | Volume |
| 73.5¢ | 73.8¢ | 71.5¢ | $340.5K | 469.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 187 | 71.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.5¢ | 4634 | 1 |
View Market Depth
| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
71.8¢ |
Change
-0.010 ( 1.82 %) |
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| Open | High | Low | Volume | ||
| 73.0¢ | 73.8¢ | 71.5¢ | 100574 | ||
| Last updated 15.59pm 08/05/2024 ? | |||||
| MYR (ASX) Chart |