First sign that the IEL business is being impacted materially.
The market seems to be willing to pay about no more than 20 - 22x for quality growers with short term headwinds. Given these issues could be more medium term it will be interesting to see how hard IEL is penalised today. Most brokers had this years numbers growing at 15 - 20% and next year up 5 - 10%. This update puts this year and next in the "No Growth" likely category.
That puts a share price drop around 20 - 25%.
Having said all that, market will do whatever it wants to do.
First sign that the IEL business is being impacted...
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Last
$15.23 |
Change
-0.340(2.18%) |
Mkt cap ! $4.297B | |||
| Open | High | Low | Value | Volume |
| $15.42 | $15.60 | $15.22 | $14.30M | 926.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 15 | $15.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.25 | 2740 | 29 |
View Market Depth
| Last trade - 11.48am 20/06/2024 (20 minute delay) ? |
| IEL (ASX) Chart |