Carsales.com has bounced from the $11 support level and is now trading at $11.95.
Carsales now has businesses in Mexico, Chile, Argentina, Brazil and South Korea and international business contributes 20 per cent of the company’s revenue.
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CAR goes ex-div $0.205 on the 22nd of March.
We expect the upcoming earnings release to show 8 – 10% EPS growth, which will support the 4.5% dividend yield.
