I won't be too quick to buy back in. There is scope for more selling on Monday once people have had a good look at the numbers. Even with short closing there is scope for more offloading which will keep the SP down.From MS summary on the 8th:
LLC has identified further underperformance in its Engineering business. This willresult in an additional A$350m provision in its 1H19 result. Whilst theunderperformance remains limited to the previously identified small number ofengineering projects, we see the quantum of the prevision, which is more thandouble the engineering and services business loss in FY18 of A$218m EBIT(~A$150m NPAT),as particularly concerning. In isolation this could seeConsensus NPAT estimates (A$845m according to Bloomberg) fall by 40%,putting material downward pressure on the stock today.
I won't be too quick to buy back in. There is scope for more...
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Last
$5.53 |
Change
0.140(2.60%) |
Mkt cap ! $3.814B | |||
| Open | High | Low | Value | Volume |
| $5.44 | $5.54 | $5.42 | $16.96M | 3.097M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19123 | $5.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.53 | 5173 | 3 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| LLC (ASX) Chart |