Bunzl looking for a new bottom?
Market expectations for Bunzl plc (BNZL)'s earnings changed on 2024-03-11, as it approaches its next results.
Investors use earnings estimates to compare a company's performance with industry peers and sector benchmarks, aiding in the identification of relative strengths and weaknesses. Average EPS has been revised down to 185.56 by 16 analysts. Previously, it was 185.61.
The average yearly EPS is placed at 185.56 for the period ending 31-12-2024 with the lower band at 179.85 and higher band at 193.8. When compared to the EPS of 189.9 from a year ago, the current estimate indicates an decrease of roughly -0.023. On the other hand lower band of revenue is expected to be at 11563000000 and the higher band at 12463200000. The average revenue is expected to come in at 11894200000. This is an increase of about 0.008 from the revenue of 11797100000 from a year ago.
Typically, investors seek to act swiftly following such a decrease in estimates to close existing positions or initiate short positions before the next results.
On 2024-03-08, investors noted a shift in the predicted threshold for BNZL's stock price.
Analysts, in their research reports provide a range of maximum and minimum price projections for a given stock, which investors can draw on to guide their decisions.Analysts, through their exhaustive research reports, furnish investors with a spectrum of maximum and minimum price projections for a particular stock, aiding investors in making informed decisions. Predictions from a survey of 15 investment specialists suggest that BNZL's future price is expected to range from 2600.0 to 3700.0, with the mean forecast resting at about 3114.33.
Technical Summary
The current price of 3004.0 finds support at 2940.0 and resistance at 3027.0. The recent price move is approaching 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.
DISCLAIMER: We provide information and our musings based on events, but nothing on this site can be considered professional advice of any kind.
If you have enjoyed reading, spread the word: