Ashtead Group's stock at support level.
There occurred a change in the market expectations for Ashtead Group plc (AHT)'s earnings on 2024-03-11, with its next results approaching.
Deviations from earnings estimates can signal potential risks or opportunities for investors and stakeholders, helping them manage their exposure to market fluctuations. Average EPS has been revised down from 3.12 to 3.04. These figure are based on the prediction of 19 analysts.
The average yearly EPS is placed at 3.04 for the period ending 30-04-2024 with the lower band at 2.86 and higher band at 3.13. When compared to the EPS of 3.04 from a year ago, the current estimate indicates an increase of roughly 0.0. On the other hand lower band of revenue is expected to be at 8181270000 and the higher band at 8599420000. The average revenue is expected to come in at 8473670000. This is an increase of about 0.113000005 from the revenue of 7615030000 from a year ago.
The uptick in earnings estimates may fuel a price increase preceding the next results, offering investors an early entry window.
As of 2024-03-11, analysts noted a change in the predicted threshold for AHT's stock price.
In their comprehensive research reports, analysts furnish investors with a price range for a specific stock, offering valuable insights for investment strategies. According to a consensus of 16 market analysts, AHT's future price is anticipated to fall within the range of 4930.0 and 6918.000000000001, with the mean price expectation resting at about 6012.0
Technical Summary
The current price of 5052.0 finds support at 5018.0 and resistance at 5232.0. The recent price move is breaching resistance.
There is a continuation of Aroon's bearish trend with Aroon Down still remaining at the 100 level. This trend needs to be explored further in conjunction with other indicators.
The PSAR continues its bearish outlook and sets a level of resistance.
The Stochastic K-line is below the D-line and the K-line is below 20. This can be considered mildly bearish.
The moving averages for 20-50-100 periods are aligned in a brearish trend and this is reinforced by their slopes indicating a continuing overall bearish trend.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
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