I liked Ross's response re paying back wage subsidy and the context around that. Overall good response both from Ross and Bevan,
$6 this side of Xmas is not out of question.
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I liked Ross's response re paying back wage subsidy and the context around that. Overall good response both from Ross and Bevan,
$6 this side of Xmas is not out of question.
Did anyone ask them whether they could remember to throw a few Imputation credits at their dividends
in future ? -- if nothing more to provide some element of evidence that something has been thrown into
Robertson's tax bucket by FBU itself on the way through & not the full 33% DWT knifing of shareholders
on the payouts .. ;)
Looks like we're running strong, hopefully no bumps in the road till $6!
Looks like analysts are all busy upgrading their earnings forecasts after Tuesday’s surprise update. Jarden has upgraded their F21 EBIT forecast by 21%.
https://www.nzherald.co.nz/business/...6MEBCNKPJM7AY/
Paywall
Excerpt :
‘ ..... Jarden Equity Research today released an analysis of Fletcher's performance yesterday.
They praised EBIT of $227m for this financial year's first four months, up $80m on the previous corresponding period.
"This is well above our ahead of market expectation as cost out programme has been more successful and demand growth being more robust. We are now forecasting 1H21 EBIT of $302m, FY21 EBIT of $527m, up from $435m previously,"
The expect Fletcher's current momentum to continue although they retained their neutral rating.
Fletcher will make net profit after tax of $217m in the year to June 30, 2021, a big turnaround on the previous year's $196m loss. Its NPAT will then rise to $262m for the 2022 year and be the same by 2023, the analysts forecast.
Hey Balance ...Jarden will chasing Fletcher’s improved performance and rising share price for a while yet
Another upgrade after half year result I reckon
Don’t brokers upgrades come in threes :):t_up:
If the 2000 to 2007 period is anything to go by, FBU's profit upgrades will come in spurts from the company with brokers (shell-shocked from making bad calls on the stock in the last 4 years) following the company's lead.
Huge volume went through in the last 2 days - over 21m shares - indicative of interest returning to the stock.
On fire today....getting close to $6 mark pretty soon
For Barr have 12 month target of $5.60. Personally I think that's too low but FBU still need to execute. You
could say they under promised and over delivered for a change. Guidance to be issues at Annual Meeting next week so 25th will be interesting.
Just chattered to a close friend of mine. She was telling me she has signed up 100 contracts for land north of Chch in last 3 weeks...Markets on steriods.
It’s human psychology, sb9. There is safety in numbers - pays to congregate around the same forecasts and recommendations. There is no prize in being an outlayer in the industry.
I know from observing the stockbroking industry that if any analyst wants to survive long term, he/she is better off to make safe rather than bold calls.
We as investors need to be aware and take advantage of that fact.
Well, I am not sure I would go that far, however - sharetrader threads are typically a good reflection of the relevant hype level for individual stocks, which is useful information for momentum traders. If that's what you call wisdom, so be it.
Looking at the fundamentals for FBU - no doubt the market is getting hotter. It might be however worthwhile to consider that FBU did a terrible job in making money out of the last building boom ... and if I look at the current situation with high demand but problems on the supply side I would see ways to make money, but as well ways to lose money.
I think the jury is still out which one it will be this time for FBU, but no doubt the next couple of days or weeks the hype avalanche will roll on. Good times for traders.
When ST posters get really dark on a stock as had been the case with FBU, it is a good time indeed to take a step back and review the postings of the more experienced posters. Not all of them are hype or momentum merchants or traders.
Obviously up to each poster to decide who is what amongst the posters here!