Stock is trading like the market is anticipating an earnings downgrade, which i think is not an unreasonable sentiment.
From an investment standpoint the question is what magnitude of downgrade is being priced into the current stock price.
By my reckoning, the market is pricing in FY2024 EBIT of somewhere close to $900m, which I don't think is beyond the realms of possibility.
So, I think the market is getting it right in marking the share price down (certainly directionally, if not specifically).
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Stock is trading like the market is anticipating an earnings...
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Last
$26.12 |
Change
0.180(0.69%) |
Mkt cap ! $12.54B | |||
| Open | High | Low | Value | Volume |
| $26.06 | $26.24 | $26.03 | $25.07M | 960.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $26.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.14 | 165 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$26.06 |
Change
0.180 ( 0.26 %) |
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| Open | High | Low | Volume | ||
| $26.10 | $26.24 | $26.03 | 201628 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| SHL (ASX) Chart |