Insights

Why CSR, Fonterra, Nearmap, & Pro Medicus shares are dropping

Nearmap Ltd (ASX:NEA) and Pro Medicus Limited (ASX:PME) are two of four ASX shares dropping notably lower on Friday…
The post Why CSR, Fonterra, Nearmap, & Pro Medicus shares are dropping appeared first on The Motley Fool Australia. –

ANZ Bank broker downgrade Fall in ASX share price represented by white arrow pointing down

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a high. In afternoon trade, the benchmark index is up 0.3% to 7,083.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

CSR Limited (ASX: CSR)

The CSR share price is down 3.5% to $5.88. This decline appears to have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the building materials company’s shares to a hold rating with a $5.50 price target. It made the move on valuation grounds following some strong gains.

Fonterra Shareholders’ Fund (ASX: FSF)

The Fonterra share price is down 4.5% to $4.05. This morning the dairy company’s shares returned from a trading halt after announcing the start of a consultation process. This process is seeking farmer feedback on potential options to change its capital structure. These changes could give farmers greater financial flexibility.

Nearmap Ltd (ASX: NEA)

The Nearmap share price has continued its slide and is down a further 5% to $1.72. Investors have been selling the aerial imagery technology and location data company’s shares this week after it was hit with legal proceedings. The company advised that rival Eagle View alleges patent infringement in relation to its roof estimation technology. Nearmap has denied any infringement and will defend the complaint.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price has dropped 6.5% to $42.89. This is despite there being no news out of the healthcare technology company. However, with a number of shares on high PE ratios coming under pressure, it isn’t overly surprising to see Pro Medicus trading lower. After all, its shares are currently changing hands for ~130x estimated FY 2021 earnings.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Nearmap Ltd. and Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why CSR, Fonterra, Nearmap, & Pro Medicus shares are dropping appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!