how the share price has gone up on a bad (not even okay) result and very uncertain outlook is beyond me
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how the share price has gone up on a bad (not even okay) result and very uncertain outlook is beyond me
Love it eh TJ...with the current market...all shares are trading almost pre covid price .
The forecast is so bleak yet the SP up 3 %.... welcome to our lala land....keep it up labour!!!
Looks like someone is propping it up at the open, let's see where it finishes by end of day trade.
My thoughts too, plus have long viewed the high PE on this stock to be suspect & a product of IPO participant's price jacking,
remaining overpriced subsequently since listing.
The previous Final dividend shortchanged on the indicated cps at time of float, if not mistaken - by 0.5 cps
The earnings for the company are not all that fantastic, compared with others in the same sector
and Dividend yield (even before canning the interim Div) was quite miserable already
A large controlling shareholding by HBRC probably augers for continuing miserable dividends
in the future, which in turn raises further question on what is pushing the price up on adverse news
(Perhaps more Hot Air - like with AIR - who knows..).
Putting another stack of company cash into Capital Assets in face of an uncertain future in international
global markets tends to raise question of whether expansion into new wharf etc is now really necessary
or just a grandiose vanity project, because it was one reason why NPH got floated in first place out
of the HBRC Capital Deficient camp.
Under current Majority HBRC control it will likely be a question of not 'if' but 'when' regardless
of undoubtedly heavily inflated costs when the 'when' becomes something that is happening
So a SP under $2 with no dividend until at least year end - Dec 2020 and then likely to be shaved downwards, appears very reasonable IMO
I have been saying this stock is overvalued from the start and all I got was negativity. It keeps going up as kiwi companies with long backgrounds are difficult to find, but I find they lack on the fundamentals. Most people would have thought, "this is a steady income stream". I feel it will do ok in the future and will always be around, but I would not invest with figures produced and COVID on their tails. At the end of the day the market determines the price
The Napier City Council needed this income as a way to subsidise the rate payer. I guess with no income from the port and apparently needing a 12% increase to break even, they will need to borrow to break even due to COVID, NCC need a prayer........