Sentiment has certainly deserted this stock. Share price has fallen 13.75% since announcement.
Whilst Retail investors (who make up 52% ownership), may not have been enamoured with the result, they may be taking profits after a strong run up past 6 months:
Results appear to have met expectations with UBS and Wilsons maintaining a buy rating. Mean consensus of 6 analysts is Outperform (3 Buy, 1 Outperform, 2 Hold) with an average 1 year price target 0f $2.72.
Management were somewhat guarded with their outlook statement which may be affecting sentiment:
"Macro-economic conditions are likely to be challenging in the short-term, and the business is taking steps to reduce the adverse impact of inflationary pressures and changes in commodity cycles."
As Hopeful noted, cashflow was negative $14.1M (Including dividends paid $13.3M). Operating cash flow was down 38%, primarily due to increased working capital requirements:
@Solarpat
I would be interested to learn at what point and on what basis you consider 'buying time'.
Based upon current and historical P/E, Ridley is more expensive than its peers and at 6 year highs.
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$2.02 |
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Mkt cap ! $637.9M |
Open | High | Low | Value | Volume |
$2.02 | $2.02 | $2.02 | $2 | 1 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 3004 | $2.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.04 | 6809 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3004 | 2.030 |
7 | 9212 | 2.020 |
9 | 20103 | 2.010 |
12 | 37231 | 2.000 |
4 | 2677 | 1.995 |
Price($) | Vol. | No. |
---|---|---|
2.040 | 6809 | 6 |
2.050 | 1692 | 5 |
2.060 | 3260 | 5 |
2.070 | 8314 | 4 |
2.100 | 299 | 1 |
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