The result doesn't look good as it is a missed. However, if I look at the two key indicators being the Revenue and Underline EBIDA, the misses were at approx -4% (572.6m vs 596.8m) and -6% (204m vs approx 222m) respectively. Sure, the NPAT is a huge miss, but this is due to the one off intangible asset impairment charge and higher tax rate in H2.
At current price, the PE is at about 11.5 vs consensus of approx 15. IMO, the slowdown in growth does not warrant such a reduction in PE. Perhaps a more reasonable PE should be between 13-14 which puts the SP between 78-84c. At the moment, we don't know to what extend the slowdown will be and market has factored in the worst. The current FX rate doesn't help either.
I will continue to accumulate at this level and if the SP goes lower.
The result doesn't look good as it is a missed. However, if I...
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Last
$4.22 |
Change
-0.120(2.76%) |
Mkt cap ! $359.0M | |||
| Open | High | Low | Value | Volume |
| $4.34 | $4.34 | $4.19 | $463.4K | 109.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4076 | $4.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.22 | 1324 | 1 |
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| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| MYX (ASX) Chart |