Morningstar cuts fair value estimate for Australia's APM Human Services

APM Human Services International

14/11/2023 01:09

(Updates share move)
    ** Shares of APM Human Services International  APM.AX  down
as much as 10.55% to A$1.378, their lowest level to date
    ** Analysts at Morningstar cuts fair value estimate on stock
by 7% to A$2.70 for APM Human Services International  APM.AX 
    ** Brokerage cuts Perth-based human resources and consulting
services company's average EBIT forecasts by 7% over next 10
years, largely driven by lower revenue forecast from
higher-margin AU and UK segments
    ** Brokerage more pessimistic relative to company's prior
forecasts due to low levels of unemployment, among others
    ** 5 of 6 analysts rate the stock "buy" or higher, 1 "hold";
median PT A$2.36 – LSEG
    ** Stock down 35.3% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))