Barratt Developments - Do current lows provide opportunity?
There occurred a change in the market expectations for Barratt Developments plc (BDEV)'s earnings on 2024-03-11, with its next results approaching.
Earnings estimates reflect the collective expectations of analysts and investors about a company's financial performance, influencing market sentiment and stock prices. Average EPS has been revised down to 26.7 by 14 analysts. Previously, it was 27.43.
The lower band of yearly EPS is expected to be at 24.0 for the period ending 30-06-2024 and the higher band at 32.4. The average EPS is expected to come in at 26.7. This is an decrease of about -0.598 from the EPS of 66.5 from a year ago. The average revenue on the other hand is placed at 4167820000 with the lower band at 3855000000 and higher band at 4633900000. As compared to the revenue of 5321400000 from a year ago, the current estimate indicates an decrease of roughly -0.21700001
Decreased earnings estimates might prompt price declines before the next results, serving as an early exit opportunity or sell chance for investors.
2024-03-11 marked a change in the price forecasts for BDEV.
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 12 market analysts, BDEV's future price is anticipated to fall within the range of 430.0 and 630.0, with the mean price expectation resting at about 535.17.
Technical Summary
The current price of 479.2 finds support at 468.9 and resistance at 484.0. The recent price move is approaching resistance.
The PSAR has just reversed direction from bearish to bullish in the latest move. Interpreted in conjunction with other indicators, this could be a very bullish signal if supported by a trend.
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