Goldman Sachs JB Were commented that EPS 1H09 was slightly above expectations.
The market is concerned over GMG's earnings outlook, capital position and the risk of a further capital raising.
The writedown of assets implies a 7.5% cap rate. They see further downside to 8.5% which would mean another writedown of $410 million. If GMG were to writedown 100% of intangible assets (1.1 billion) and devalue investments by a further $410 million gearing would be 48% which is still compliant with its 60% covenant limit.
12 month target price is $1.12
HOLD
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Last
$33.41 |
Change
-0.480(1.42%) |
Mkt cap ! $63.45B |
Open | High | Low | Value | Volume |
$33.90 | $33.95 | $33.32 | $96.03M | 2.865M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8135 | $33.41 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$33.47 | 1090 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8135 | 33.410 |
1 | 5490 | 33.400 |
1 | 1000 | 33.360 |
4 | 11877 | 33.330 |
1 | 16 | 33.320 |
Price($) | Vol. | No. |
---|---|---|
33.470 | 1090 | 1 |
33.480 | 100 | 1 |
33.540 | 669 | 2 |
33.560 | 11208 | 1 |
33.580 | 1000 | 1 |
Last trade - 16.10pm 20/08/2024 (20 minute delay) ? |
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