Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
First I would like to wish all the crew at MM a great Christmas and a better New Year. I would love to hear your thoughts on APM as It appears to have a good fully franked dividend. But of late the share price has been hammered
Hi Alan,
For subscribes not familiar with APM its a $1bn WA based human services provider with a focus on enabling better lives. As you point out the stocks endured a tough 2023 more than halving in a rising market. Some small consolation is the stock has paid 10c in fully franked dividends through 2023 and is forecasted to continue with a healthy yield moving forward but after falling from well over $2 to ~$1.10 this won’t comfort most shareholders and we question if the yield will prove sustainable.
APM isn’t a heavily covered stock but the MM website shows analysts do, or at least did, like it at current levels but Bell Potter downgraded the stock last month following a company warning that it was struggling in a low-unemployment world, which has resulted in lower flow into employment programs particularly impacting Australia and the UK with no major contracts due for renewal in FY24 or FY25.
This is one example where MM wouldn’t argue with “the tape” until the news flow improved.
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