The ranging net income over the years, with worsening free cash flow and okay 12% debt to equity for its industry tells me they arent concerned with growth right now, and the dividend yield is a good strategy but it will backfire cause its a bluff when ur fcf is not easy on the eyes
....But since 2019 the whole Industy has been taking a decline in share price as for the reason i dont know and dont feel like investigating that far it just part of the cycles i guess
Conslusion They are maintaing a good defensive position in whatever this industry is going through so price might not complete a full bearish impulse maybe a reversal at the target labelled1 or 2
Conclusion UPDATE just realised i dont like growing debt with their FCF
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If you happen to see this and you are interested in JSE like and comment
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They up dividends some more (to entice investors) They are dropping products from their production line (to save money) Sell processed meats unit for 26 million usd (raise capital)
its like the rich friend whos business went bust wont accept reality and keeps trying to push an image but we can see right through you that friend just needs some advice like youll make it buddy its just the economic cycle is harsh dont be reckless investors will be investors no matter what you try boom and bust baby
I am such a bear does that mean im negative or i like calling what people couldnt see
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got any jse listings you need clarification on ? comment below
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