Report to investor of johnson matthey
Find out more about Johnson Matthey shares including how to invest Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Thomson Reuters.
The shares currently trade on 14 times forward earnings, a little below their longer run average, and offer a prospective yield of 2. Until recently it had been focussed on lithium iron phosphate batteries, but changes to regulation in China mean these have fallen out of favour, knocking JMAT battery material sales.
The report finds that, during the first quarter of this year, investors took advantage of low platinum prices to buy nearly oz of platinum exchange-traded funds ETFs.
Delayed over-reaction - investors chasing rising prices attract the attention of other investors, who follow them into those trades, pushing prices higher and higher.
Sales in Health were lower as sales of generics declined. Guidance for stable sales and double digit operating profit growth for the full year remains unchanged. And while there are no certainties about which way a stock will move next, research shows that price trends often persist.
Why relative strength matters Relative strength is a crucial tool in the armoury of technical traders and investors. There's no guarantee JMAT's picked the winning formula for batteries.
This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.
Johnson matthey report 2018
The other potential pitfall is technological. This article is not advice or a recommendation to buy, sell or hold any investment. That was largely thanks to European Light Duty vehicles, where the group delivered double digit sales growth driven by market share gains in diesel and an increase gasoline particulate filters. The electrification of vehicles is being taken seriously by traditional players in the sector, not just the likes of Tesla. Studies by Narasimhan Jegadeesh and Sheridan Titman, who are leading experts on momentum, show that stocks with the strongest price strength tend to keep up the pace for anywhere up to one year. So the answer is that momentum in stocks with strong relative strength is at least partly caused by a virtuous circle of human emotion. Full year guidance remains unchanged, although performance will be weighted towards the second half of the year. Sales and operating profits are expected to improve this year. And while there are no certainties about which way a stock will move next, research shows that price trends often persist. Guidance for stable sales and double digit operating profit growth for the full year remains unchanged. However, the company believes the picture may have been distorted by purchasing by individuals and companies connected to the jewellery sector, which occurred during the second half of , but which the company did not include in its demand estimates for last year.
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