HSK 0.00% 7.3¢ heemskirk consolidated limited

earnings forecast downgrade

  1. 284 Posts.
    Behold,

    ABN Amro have downgraded their earnings forecast for the year ended 30 Sep 2008.

    It has gone from 9.5c/share 7 days ago, to under 1c/share today.

    http://investing.businessweek.com/research/stocks/earnings/earnings.asp?symbol=HSK.AX

    Curiously, at the time of writing, HSK was still rated a strong buy despite the downgrade.

    Last year's acutal earnings was around 5c/share. The forecast last year was exceeded by 83%, so this isn't the end of the world.

    The annual financials should be out mid-Nov. Their Sep Qtr activity report suggested production was up, costs were down and new reserves were up. I think this year could easily be another positive surprise.

    Also, ABN have downgraded their forecast for the year ended 30 Sep 2009 to just over 9c/share.

    If anyone has more facts behind the story, I'd love to hear them.
 
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