Nice trading, but you are wrong on the PE front. Take a look again using current SP and guidance (which may be downgraded yet again). The PE is still very high for a company losing revenue, market share AND suffering from margin compression at 100mph! After reading the report yesterday, it appears the negatives are structural and not just one off's like many on here think.
For a commodity company with a shareholding in a company owning stainless steel, in a low rate environment and "maturing" (more like losing market and revenue) I would assign a PE closer to 15 than 30.
This can very easily turn into a deep value trap if you believe the PE is low right now...
Chart Update, page-16889
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Last
$6.35 |
Change
-0.020(0.31%) |
Mkt cap ! $4.597B | |||
| Open | High | Low | Value | Volume |
| $6.33 | $6.52 | $6.19 | $19.90M | 3.146M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3455 | $6.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.36 | 29208 | 3 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| A2M (ASX) Chart |