News: TAH Tabcorp Holdings Updates On FY19 Dividend Target, page-3

Slight miss...

Tabcorp profit falls short of consensus
Tabcorp has reported a full-year net profit of $246.2m excluding one-offs.
This is about 2.5 per cent below Bloomberg’s consensus estimate of $252.4m.
Given there are about 6 Buys, 2 Holds and only 1 Sell rating on the stock it may be headed for a slight dip.
However the share price fell 3pc to a 5-week low of $4.48 yesterday and it closed on the 100-day moving average at $4.50.
Thus the market looks to have already anticipated some disappointment among analysts.
And Tabcorp said it’s “well positioned for growth” after a positive second-half, driven by Wagering & Media and Lotteries & Keno.
Expect solid support on dips to the June 29 low at $4.44.
TAH last $4.50.