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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Last
$2.15 |
Change
0.000(0.00%) |
Mkt cap ! $679.0M |
Open | High | Low | Value | Volume |
$2.15 | $2.17 | $2.14 | $74.96K | 34.81K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 2917 | $2.15 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.16 | 3980 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 2917 | 2.150 |
9 | 8359 | 2.140 |
10 | 24884 | 2.130 |
7 | 21103 | 2.120 |
7 | 16406 | 2.110 |
Price($) | Vol. | No. |
---|---|---|
2.160 | 3980 | 11 |
2.170 | 5564 | 11 |
2.180 | 8723 | 9 |
2.190 | 13643 | 9 |
2.200 | 34342 | 8 |
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