What Next for McMillan Shakespeare Limited Stock After Reaching 52-Week Low?

 What Next for McMillan Shakespeare Limited Stock After Reaching 52 Week Low?

The stock of McMillan Shakespeare Limited (ASX:MMS) hit a new 52-week low and has $9.29 target or 6.00% below today’s $9.88 share price. The 7 months bearish chart indicates high risk for the $822.06 million company. The 1-year low was reported on Nov, 30 by Barchart.com. If the $9.29 price target is reached, the company will be worth $49.32M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.00% or $0.1 on November 30, hitting $9.88. About 424,163 shares traded hands or 2.56% up from the average. McMillan Shakespeare Limited (ASX:MMS) has declined 21.65% since May 4, 2016 and is downtrending. It has underperformed by 26.88% the S&P500.

More notable recent McMillan Shakespeare Limited (ASX:MMS) news were published by: Fool.com.Au which released: “Here’s why Mcmillan Shakespeare Limited is a screaming buy” on February 08, 2015, also Fool.com.Au with their article: “Fairfax Media Limited & McMillan Shakespeare Limited: 2 shares that could …” published on April 01, 2016, Fool.com.Au published: “Could this company be the next McMillan Shakespeare Limited?” on July 13, 2015. More interesting news about McMillan Shakespeare Limited (ASX:MMS) were released by: Fool.com.Au and their article: “Could McMillan Shakespeare Limited shares be in the buy zone?” published on February 24, 2016 as well as Fool.com.Au‘s news article titled: “McMillan Shakespeare Limited reports 22% profit growth and brighter 2016” with publication date: August 26, 2015.

McMillan Shakespeare Limited is a provider of salary packaging, vehicle leasing administration, fleet management and retail finance services. The company has a market cap of $822.06 million. The Firm operates in three divisions, including Group Remuneration Services, Asset Management and Retail Financial Services. It has a 9.98 P/E ratio. The Group Remuneration Services segment provides administrative services in respect of salary packaging and facilitates the settlement of motor vehicle novated leases for customers, but does not provide financing.

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