ABC in aus just saying construction markets in aus have weakened further and look to keep declining into 2021
abc is aust construction company
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ABC in aus just saying construction markets in aus have weakened further and look to keep declining into 2021
abc is aust construction company
SP dropped to day to $4.28 - lowest level since June 2004. Brave people fighting the market, though they say there is a thin line between being brave and - well, you know ...
Today is ex-dividend date.
I think your be waiting quite awhile for it to recover , heres a reality check of the situation in aus
Construction recession deepens and spreads across all sectors
https://www.abc.net.au/news/2019-08-...ction=business
and for NZ there is plenty of evidence peak construction has been reached in NZ even people involved in the residential housing builds say things have slowed dramatically last few months. The govt not contributing to the sector either contrary to what they say. kiwi build is a flop , they have stopped investing in roads ( nzta even say projects drying up as well as fbu saying same) there is no big infrastructure spend by govt in the pipeline contrary to what they say even ORR the RBNZ governor keeps pleading for the govt to spend money on infrastructure to keep the economy going.
most analysts are downgrading earnings going forward as evidence is mounting fbu NZ earnings will come under pressure soon and there aus earnings will get worse.
couple of hundred K shares traded so far,but no depth to the buyers,guess the company has waded in with it's war chest open?
Turnover $6,266,896 today, and up a solid 2.5% There is a clause in the FBU buy back document regarding something like 'not to affect the share price unduly' but I can't see how they will buy $300m of shares and not push the price up albeit modestly. I'm in and if there is an 18% lift over the next three months, then I may be out. Does seem to look better than 'money in the bank' Right now. And I will argue that every one of us is a gambler.
well they are starting the buy back on monday next week,be interesting to see the volumes.the company might see the SP as a bargain at the mo.
If they stop buying will it mean more bad news on the horizon!!
Sounds like an amazing opportunity - company buying up their cheap shares. A genius strategic move - what can possibly go wrong?
Obviously - shareholders better hope the SP trend does not continue - the past does not look flash:
Attachment 10746
But then, there must be a lot of upside potential - mustn't it?
PS: Let's hope for shareholders it goes better than the TRA share buyback ... while boards always think their share is undervalued, they are not always right :p;