Market was forecasting 7 euros EPS for 2021 https://www.reuters.com/companies/URW.AS
Guidance of at least 6.75 is lower.
Volume for the day wasn’t higher than normal like a typical earnings announcement, so suggests it was just quant fund reaction.
Still, it’s not enough to get bank analysts to change their fundamental view, even though the stock trades at 8.8x 2021 EPS (CoVID affected), and a 50% discount to property appraisal value
Is it a value trap? Strategy day where they outline grand plans isn’t until March 2022.
Ann: URW Financial information as at September 30, 2021, page-12
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