I can empathise, and this stock is currently priced for flat if not declining growth.
Within the positive parts of its business however it is generating cash and currently provides a dividend yield of 3.6%. Yes cash in the bank is better, but i dont think it will take much at all for the market to realise its oversold the company.
6 months time once we start to report some steady numbers that show the fall has been arrested, there are some profitability gains by cutting out some waste and we will start to recover. Anyone that bought this stock above $40 was a bit silly, and anyone over $60 was extremely optimistic...
Last report showed them making an EBIT of $200M (down from $300M in 21/22) and a market cap of 2.7B for a PE of 13.5. High director ownership is a good sign for skin in the game. The short position is fairly high, and when this business gets some confidence back and demonstrates its at least not going backwards, there is more than a few latent forced buyers that will have to find an exit. Potentially in a hurry.
DMP Price at posting:
$28.75 Sentiment: Buy Disclosure: Held
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