Thank you Xerof.I did not realise they would have had a guarantor.So that is great to know.You also were clear on what % they would lend on livestock,which again I did not know.
The thrashing I took was not helping me, as I was very concerned when HNZ broke below the 200 day EMA.I had expected it to stay above it. After clearing my mixed up head,[not reading sharetrader for a few days and a couple of great book selling trips to The west Coast] I decided I had no cause to be concerned about Heartland's share price,or my overweight position. Now the tide has turned we can start thinking about Heartland's eps growth for 2016.There will be three areas that will drive this eps growth.
1] Organic growth.REL may start getting traction.Ifinance and Harmoney will be interesting.Ever changing economics in NZ will offer HNZ opportunities.I see between 5% and 12%.
2]Possible share buy back.Possibly between 2% and 10%.
3]Acquisitions.Possibly between 0% and 3%.
I look forward to reading updated brokers' reports, and more keenly to Heartland's own update, which will most probably be given later in the year at the AGM.