Originally Posted by
Beagle
For what its worth I am working my numbers on the official company forecast issued at the time of the FY20 profit announcement. Since then they have confirmed they are trading ahead of that forecast for the 4 months to 31 October $29.9m and have indicated that they have not used any of the previous Covid provisioning. There's also been talk of a revaluation of their Harmoney stake.
Closed at 12.7 times what now appears to be a quite conservative forecast for FY21.
What happens to the share price if there is a profit upgrade to say 15.5 cps and the shares get rerated to the average of the Aussie banks of 16.3 x FY21 earnings, oh my goodness, that's $2.53 ! Couldn't happen, surely not, or could it ? :cool: