Hi Rameez
Yes, have looked through announcements over the last 3 years. Thought the recent downturn in share price was due negative factors influencing the engineering/mining sector overall(particularly due to mining contract cancellations). Read somewhere the mining sector only contributes 10% of CDD's revenue, so it shouldn't have impacted the share price that much. The companies management were perplexed why its stock value had decreased.
Also in the announcements CDD have never mentioned they are experiencing trading difficulties. They have said despite market difficulties, their performance has stayed the same.
I looked at the decrease in performance over three years, given the number of acquisitions. $8.46 is an all time high for this business, so not sure what had caused the increase up to the middle of last year. In 2010, CDD's share price was under $4 at one point before increasing to $6 (then falling again).
To me it appeared Cardno had lost value in either the acquisitions being made or their existing businesses, can't tell by reviewing their financial results. This would potentially lead to further reductions in the future.
Interested in what you think. My thought is the market hasn't realised potential problem with this stock yet and the average punter is at risk of loss if CDD corrects their balance sheet.
Bets of Luck
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Last
26.5¢ |
Change
0.015(6.00%) |
Mkt cap ! $13.28M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 29.0¢ | 23.5¢ | $28.94K | 116.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 23079 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 5500 | 1 |
View Market Depth
| Last trade - 11.52am 04/12/2024 (20 minute delay) ? |
| CDD (ASX) Chart |
