The evidence suggests that WES sector is in a bear market.
The retail sector reasonable Pe rations are around 14 to 18.
The only reason WES has a Pe of 30 is due to the low return for cash in the bank which is .5%. Investors are chasing yield and in doing so are driving share prices to ridiculous levels.
The director of WES expected that 15% of profit was driven by panic buying. If this is correct you can reduce the share price by 15% without any other factors. If the there is a market correction you can reduce the share price by 30% based on a reduction of PE back to reasonable values.
49.85 minus 15% $42.37 minus 30% $29.66
If there is recession prices could fall to $25 to $27
March 26 2020 it was $32
Since march 2021 WES has lost 12% of its value.
returning to PE of 18 to $ 29.66
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 (20min delay)
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Last
$68.31 |
Change
1.830(2.75%) |
Mkt cap ! $77.54B | |||
| Open | High | Low | Value | Volume |
| $67.00 | $68.68 | $66.65 | $112.3M | 1.652M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2161 | $68.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $68.35 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$68.47 |
Change
1.830 ( 2.90 %) |
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| Open | High | Low | Volume | ||
| $66.81 | $68.68 | $66.72 | 339467 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| WES (ASX) Chart |