I'm very surprised that they didn't report Q3 results by the end of Oct. I can't see any instance of this happening in the last 5 or so years. I also feel that they uplift in sales they were hoping for has not materialized. They are possibly waiting for a pick up in sales or some large order to go through so they can point to improving conditions in the update. Having said that, the SP is already trading at an undemanding multiple and even very bad results probably won't see the SP go much lower (I can't imagine the SP going below the mid $7s that it was a couple of years ago). Provided they aren't losing market share and poor performance is due to overall weakness in demand, this could be a great buy on a poor market update. Because the weak conditions are bound to eventually end. However if this is an issue of market share being eaten away, things could get a lot worse.
DDR Price at posting:
$8.69 Sentiment: None Disclosure: Held
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