Investors buy then sell DMCI on record earnings - BusinessWorld Online

A total of 86.80 million DMCI shares worth P807.86 million were traded from March 7 to 11, data from the Philippine Stock Exchange showed.

“Based on the price charts, DMCI was consolidating between P8.10 and P8.70 before rallying to as high as P9.85 on March 8, the day [it] announced [its] results. Currently, the stock is trading below P9.00, as investors sold on news,” he said. In a disclosure on March 8, DMCI reported its net income surge more than three times to P18.396 billion last year amid stronger-than-expected coal, power, and nickel markets as well as higher construction accomplishments.In the fourth quarter alone, its bottom line more than doubled to P4.921 billion amid record high coal prices, strong demand for electricity and real estate.

PNB Research Equity Research Analyst Jose Rafael Mendoza expects DMCI to net P28.6 billion this year, to be driven mainly by SMPC , then followed by DMCI Homes , D.M. Consunji, Inc. , DMCI Mining , Maynilad Water Services, Inc. , and DMCI Power .

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