Good times ahead for Anglo American plc?
On 2024-03-12, there was a change in the market expectations for Anglo American plc (AAL)'s earnings ahead of its next results.
Earnings estimates allow investors to compare a company's performance with its peers and industry benchmarks, providing insights into its competitive position and market dynamics. Average EPS has been revised down from 1.76 to 1.72. These figure are based on the prediction of 19 analysts.
The lower band of yearly EPS is expected to be at 1.38 for the period ending 31-12-2024 and the higher band at 2.15. The average EPS is expected to come in at 1.72. This is an decrease of about -0.08 from the EPS of 1.87 from a year ago. The average revenue on the other hand is placed at 23063000000 with the lower band at 21372800000 and higher band at 26195800000. As compared to the revenue of 25283300000 from a year ago, the current estimate indicates an decrease of roughly -0.088
A decline in earnings estimates might drive prices downward leading to the next results, offering investors an early exit or selling opportunity.
There was a revision to the price projections provided by analysts for AAL on 2024-03-12.
In their thorough research evaluations, analysts outline a price band for a particular stock, providing investors with essential guidance for their investment choices. Analysis from 19 leading market analysts indicates that AAL's future price is forecasted to fall within the range of 1505.0 to 2674.0, with an average projection settling near 2128.0.
An increase in price projections mirrors a recalibration of analysts' forecasts, driven by changes in market fundamentals, potentially instigating a bullish momentum in the market.
Technical Summary
The current price of 1855.6 finds support at 1670.2 and resistance at 1750.0.
The PSAR continues to be bullish in its current outlook.
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