The results are clearly disappointing and reflect a very slow start to the year in Civil engineering, which includes the Ijmuiden sea lock’s further cost overruns. We expect to cut our EPS forecast by more than 10%, which should result in a lower target price. We expect to keep a negative recommendation on the stock.
10 May 2019
Q1 19: despite very poor results, the vague guidance is maintained
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q1 19: despite very poor results, the vague guidance is maintained
Koninklijke BAM Groep NV (BGPA:FRA) | 0 0 1.2% | Mkt Cap: 1,065m
- Published:
10 May 2019 -
Author:
Felix Brunotte -
Pages:
3
The results are clearly disappointing and reflect a very slow start to the year in Civil engineering, which includes the Ijmuiden sea lock’s further cost overruns. We expect to cut our EPS forecast by more than 10%, which should result in a lower target price. We expect to keep a negative recommendation on the stock.