Graincorp reported FY17 EBITDA of $390m, up 53% on last year, but below market expectations. The market was looking for a stronger result given the largest east coast crop on record.
Storage & Logistics disappointed, as did the failed synergy targets from its’ Oils investment to date.
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Looking out 12 months, we see FY18 earnings per share lower but the dividend remaining steady at $0.30 per share, placing the stock on a forward yield of 3.5%.
Our Algo Engine flagged a short signal under the lower high formation on the 9/11/2017, when GNC was trading at 8.76.
