WEEKLY MAPFRE: -36.1% YoY 2022Q4 profits and #batpattern Short

MAPFRE, S.A.BME

Description

⋅ Feb 9, 2023 9:51 AM

FUNDAMENTAL AND TECHNICAL ANALYSIS

FUNDAMENTAL

2022 EPS Q4 better than expected: 0.0503 (exp. 0.0388). Issued premiums revenue 5.895B (exp. 5.83B). Nevertheless, -36.1% YoY Q4 profits.

Final dividend of 14.5 cents, payout 69.5%.

Conclusion: weak 2022 results overall give the share price a PER of 8.83 at price 1.842. P of PER increases, an overvaluation could be happening at the moment.

TECHNICAL

Aside from the weak results, there might be a formation of a bearish bat pattern underway whose prophecy is not as good for investors as the previous inverse head and shoulders that appeared post-pandemic.