To many people eh? Oh dear wonder if noted telecommunications expert Jason Ede will be out on his ear already?
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To many people eh? Oh dear wonder if noted telecommunications expert Jason Ede will be out on his ear already?
Looks like this stock has been a classic dividend trap for many investors. I won't attempt to value it other than to say if I thought there was an opportunity at the current price I'd be buying, (I'm not).
CEO selling down and the really very modest holdings by the directors are actions that speak for themselves.
I'm adding to my holding.I think the market has overreacted.Be noted in the shareholders list soon
I completely agree with your first quote but not so sure about the second one. I don't really know the company so can't comment on specifics but I always get worried when a company starts to extol the virtues of its dividend yield...to me that raises a red flag that perhaps they're running out of ideas to grow EPS. (e.g. Anyone noticed SKC was recently trumpeting its dividend yield...yet is running into a period of unprecedented capital expenditure.)
The market always overreacts ... over and undershoots are just a fact of life (plain physics). Obviously $1 is as well a psychological important barrier. Still not quite sure, though whether it will hold at that stage or still drop further, but guessing the bottom is hard anyway. Nevertheless - all the best!
Using my spreadsheet of smoke and mirrors, before the dividend cut (15c) I had a rough forecast yield of around 15%. After the cut to lets say 8c (being optimistic they'll be able to pay 4c again in the second half), I get using the same yield number as the discount rate a fair price of circa 80c. Not saying it'll drop that low but personally I'd be looking to get in even lower than that given their amount of debt.
The manly, "straight talking", arse bitten CEO sounded like an out of breath pussy cat in this interview as Jenny directed a couple of pertinent "straight talking" questions his way.
The shame is the interview seemed to cut out just as Jenny seem to be about to really sink her teeth in.
For a man who seems to mention sacking incompetent managers every other announcement you have to love his explanation for cost blowouts, "they just kinda came out of the blue". Can you imagine his reaction to a manager giving him this for an explanation. I expect his answer would be another "one off" restructuring cost.
I agree okay. His explanation, if you can call it that was quite frankly, pathetic. What was he going on about toward the end, something about power costs...I just got the feeling WTF ????? He went on to say it would be explained in more detail in the half year report, which I took to interpret as blatant attempt to dodge the question and a simple attempt to buy himself more time to come up with a more plausible explanation in due course.
Also talk of good trading for the first few weeks of 2015 felt to me like "Oh My God I have to say something positive"..the SP is in freefall and I don't want my neck on the chopping block....Just calling it as I "read" the tea leaves. I feel sorry for investors. How do you have confidence in a man like that after what's been said, the way its been said and him voting with his feet by selling a fair percentage of his stock late last year ? I don't think talk of costs "biting a company on the arse" is appropriate language for a formal press release. A good CEO ???????