Shares in Capitec, which reached a record high last week, were trading 4.1% down on Monday afternoon after the banking group said earnings in the year to end-February would increase by no more than 20%.
It was possible that “some corners of the market” had expected earnings growth to accelerate, which probably explained the share’s decline, said Jan Meintjes, a portfolio manager at Denker Capital.However, Meintjes said he did not share that view. But Meintjes said TymeBank was disrupting the market with lower fees, which was a risk to Capitec, given that its transactional banking clients are price sensitive.
The bank’s shares reached a high of R1,306.21 on Thursday last week, defying a scathing report from short-seller Viceroy Research which was published in early 2018.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:
Why would the shares fall if they are making more profit?
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Stadio’s shares jump 13.2% on earnings reportThe education group grew net profit to R77.3m thanks to new brands, and aims to have 100,000 students in its institutions
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »
Despite Nigerian run-ins, MTN’s earnings nearly doubled in 2018In 2018, the mobile operator was slapped with demands totalling $10.1bn from Nigerian regulators And yet MTNza cancelled FreeTwitter
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »
Bidvest interim earnings up 9.6% despite frail economic backdropThe company says its financial position allows sufficient headroom to advance the group’s strategy.
Fonte: TheCitizen_News - 🏆 6. / 75 Leggi di più »
Campbell Soup shares rise after beating earnings estimatesUS food producer’s net sales grow 24%, helped by acquisitions of Snyder’s-Lance and Pacific Foods
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »
Nederburg maker Distell lifts earnings, even as sales fallThe company says Nigeria, Kenya, Zambia and Mozambique recorded strong growth ‘as we continue to build our local production and route-to-market across the markets’
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »
JSE slips amid spate of disappointing earnings reportsGlobal markets were reacting to some disappointing news out of China on Thursday, while US officials have reminded the market that the US-China trade war is far from over Magda_Wierzycka you surprised?
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »
Market Theatre falling apart despite R100m state cash injection | The StarAllegations are that the iconic precinct shoddy work is to blame for the state of disrepair at the theatre. TheStar_news Too many 'artists' sucking the payment tit dry. TheStar_news What a helluva surprise. TheStar_news Yup.
Fonte: IOL - 🏆 46. / 51 Leggi di più »