I haven't always agreed or respected the opinions of Motley Fool but they published this today in an article about three best turn around stocks:
Fortescue Metals Group Limited
Although in the last year Fortescue Metals Group Limited (ASX: FMG) has recorded growth in its bottom line of 75%, its current year numbers are set to be hit very hard by a lower iron ore price. For example, it is expected to deliver earnings per share of $0.23 versus $0.93 last year, which is a fall of 75%.
However, with Fortescue’s share price now seemingly accommodating that decline as well as future weakness in the price of iron ore, now could be a good time to buy. For example, Fortescue trades on a price to book (P/B) ratio of just 0.83 which, when the ASX has a P/B ratio of 1.25, seems to be relatively appealing and could mean that shares in Fortescue perform well over the medium to long term.
I haven't always agreed or respected the opinions of Motley Fool...
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Last
$23.20 |
Change
-0.220(0.94%) |
Mkt cap ! $71.43B | |||
| Open | High | Low | Value | Volume |
| $23.46 | $23.49 | $23.04 | $104.4M | 4.486M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 18833 | $23.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $23.20 | 6082 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$23.24 |
Change
-0.220 ( 0.46 %) |
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| Open | High | Low | Volume | ||
| $23.47 | $23.49 | $23.04 | 1188146 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| FMG (ASX) Chart |