Why is it on wards and upwards? The SP is capped at $12.20 for a long time into the future.
Nothing very revealing in the announcement.
By the end of next week there will be an opportunity to purchase shares at under $10.
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SP currentyl $10.38 so I am more than happy to go onwards and upwards to $12.20. We can agree its not if, but when?
Market seems to think differently (currently up 3.8% for the day.
This is what ATM does. As long as the lows get higher and the highs go higher as well, its a roller coaster worth staying on.
I'd like it to go up, up and up, but don't think it will for awhile yet.
The announcement came out at 3.17pm. SP has been tracking South ever since.
I agree, this is what ATM does.
A2 icecream anyone?
https://www.nzherald.co.nz/business/...ectid=12164057
Before we all get too excited (again) - might be worthwhile remembering that the SP is at current still below the MA200, though admittedly - close.
Might be worthwhile to wait whether it manages to take off from the MA200 (and stays above, not just a brief flight finished by a rather unpleasant landing ...) - quite bumpy experience at the moment.
Question is - do we expect hype to take control again? I guess it is possible, but isn't it more likely that people will look into what is sustainable and price the company accordingly assuming a realistic PE and sustainable growth rates?
Fun data: backward PE (2012 - 2018) is 161; PE based on 2018 earnings is 38.5; forward PE (based on 2019 consensus) is 28 and forward PE based on analyst forecasts for the next 3 years is 25;
It is probably debatable, whether the current PE ratios (as above) are "fair", but if people talk about rising SP's, than they seem to think ATM is still too cheap?
What would be an apropriate PE for ATM in a time of PE contraction? And what sustainable growth for say the next 10 years are we assuming to justify this PE?