I think COVID will help them....if one had a choice...from a health perspective...would one prefer to jump on a bus or train...or drives one's own car.
This will affect many of the people that buy cars in Turners range. I think anyway.
I think COVID will help them....if one had a choice...from a health perspective...would one prefer to jump on a bus or train...or drives one's own car.
This will affect many of the people that buy cars in Turners range. I think anyway.
LIve in a retirement village [full of 250 old farts with money to spend on cruises,like us].Now with one lockdown after another,many like us are saying no more cruises,to dangeruous to get onto the petrie dishes].So you cant update your home,because thats the villages,so upgrade your car,plenty in our village have done so [because you know we just dont die so young & have to keep up with the times].Have a great one [can tell you, HAVE PUT QUITE A FEW GRAND INTO TRA,it beats the 1.3% the bank was giving to us.Good luck to you all
I agree, they have been a 2020 dividend star. I tripled.
No more cruises ay.
Surely not?
Whose surprised that there’s been no announcement or advertising about going live with their car subscription service? Or have I missed it?
I really want to invest in Turners. Seems management are very aware of the direction to go in, a classic unloved 'boring' Peter Lynch stock that no one cares about but quietly has strong growth. Great value trading very cheap.
Sorry if this has been talked about before, but I just can't bring myself to buy in. Can anyone explain why they have such high debt? I haven't come across a company so levered - is there a particular reason?
Debt/Equity 150+%. Just paid $12.8m in interest costs on $30.3m in unlevered free cash flow (according to my basic calculations). 30% of FCF going towards debt and 42% of unlevered FCF paying off debt.
Anyone that knows more about turners can explain why this is good amount of debt?
Easy. Turners is basically a finance company with a plugged on used car sales business. If you compare them with other finance companies, then you will find out that the liabilities don't look that outrageous.
Obviously - Finance companies do come with particular risks (especially given the current situation of the NZ economy). If the future brings e.g. large unemployment, this would hurt them. Up to you how you rate these risks compared to the potential rewards.
Discl: don't hold.
I remember working with Bruce Plested many years ago,then he started Mainfreight & his idea was give staff an incentive & look where they are today [what did he do ,he made all his managers shareholders].Reading the latest result of TRA what is interesting they are are going down the same path.As an oldie I can really relate to that,you can see they pay quarterly high dividends & what gets staff motivated more than knowing if they perform well they are going to get nice bonuses in the way of dividends every 3 months.I think this company will do quite well [hope you got onto my other tips MET & PPH earlier this year,at least doubled your money].Be lucky
Another week to go to get hold of divvy before it goes XD next Fri...
Last day for yield chasers to get in to avail upcoming divvy..
I bought back in for a modest stake on Tuesday to add some diversification to my portfolio. 9.44% gross yield is very attractive and I believe it is sustainable for the foreseeable future. I see people's reluctance to use public transport continuing, (demand for Turners cars remaining strong) and interest rates headed to zero.
I see imports have dropped in a big way,which has pushed up the price of cars,so in the short time [next 6 months] the price of cars & margins will go up,can only be good for Turners.See the share over $3 in the next 2 months.Good luck [my bank warned me interest rates for investments will be around half a percent,might as well have your money under the mattress].Stay lucky
My main trading bank BNZ has dropped its business call account rate to 0.05%, (that's not a typo). So to be clear, my money would need to stay at call for 20 years to earn 1% before tax. The mind boggles. What happens when the OCR goes negative, will they charge us to keep our money "safe" ?
Anyway back to Turners....sorry for the thread digression.
Read on the bull that used car prices in Australia up 29.9% year on year.