SMH reported it as "Downer has jumped 8 per cent after a broker flipped from a "sell" equivalent to a "buy" ahead of the company's results this week."
I agree its the most likely reason for SP to rise. Plus I've been exploring the thesis of buying companies you expect to announce a high div in their reports this months on the IFL thread. 2 weeks ago on DOW thread i posted: "I still have FY16 eps at 43c and divs at 24c ffr. That gives (at SP $3.20) a PE of 7.44 and gross div yield of 10.6%. That may attract some investors. But firm does need the outlook in next months interim to continue the positive theme of the August yr end. But in this mkt 6 months is almost a lifetime. Hold and med risk/med return buy. Newbies can afford to be patient but who knows these days?"
Look for stks that will announce high divs when they report this month. High is 8% gross annual yield. Very high indeed is above 9.5% gr ann yld.
For these reasons i hold long positions in CCP, IFL, DOW, DWS and NVT. Latter will (i anticipate) pay a 20c ffr in FY16, which is 6.75%..... but the i expect eps in FY17 to rise and the CG to compensate for the lower yield.
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Last
$5.76 |
Change
0.050(0.88%) |
Mkt cap ! $3.626B |
Open | High | Low | Value | Volume |
$5.75 | $5.81 | $5.69 | $4.241M | 737.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 11134 | $5.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.76 | 9983 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11207 | 7.790 |
9 | 88463 | 7.780 |
14 | 155873 | 7.770 |
4 | 46490 | 7.760 |
4 | 41979 | 7.750 |
Price($) | Vol. | No. |
---|---|---|
7.810 | 15057 | 2 |
7.820 | 86140 | 8 |
7.830 | 173913 | 17 |
7.840 | 107016 | 11 |
7.850 | 23268 | 5 |
Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
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