Emeco shares rally hard
Stock
Emeco Holdings (EHL) $1.88 as at 12/06/2019
Event
The earth-moving equipment rental business was out today re-confirming guidance of EBITDA to be in the range of $211-$213m which represents a ~40% lift on FY18.
The stock has been trading very poorly ahead of today’s announcement with clear concern around the potential for a weak result in August. Those fears are not without foundation, the company missing 6 of their last 7 earnings reports which is clearly one of the reasons why the stock is languishing near all-time lows. The market’s reaction tells this story pretty clearly, with a +20% pop in the share price on confirmation that they’ll at least meet market expectations which sat at EBITDA of $211m. More a relief than anything by the look.
Emeco Holdings (EHL) Chart
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Emeco Holdings (EHL)[/caption]
Market Matters Take/Outlook
