forgot to say mthly bollingers suggest prices could touch bottom line at 70c
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forgot to say mthly bollingers suggest prices could touch bottom line at 70c
It will be great when there is finally a building boom in New Zeala........oh wait......
STU’s biggest mistake is always painting a rosy picture ....things will be OK next half etc etc
All these raised expectations just add to the inevitable disappointment
Board and management need to become less delusional and face up to reality and not just hope like hell.
Will they be able to hold onto paying 5c in divis at this rate ...
And a reminder in case anyone needs one of the way STU's board dismissed FBU's bid at $1.90 about this time last year
"The board remains of the view and has informed Fletcher Building that the
company's value exceeds the revised price of $1.90 per share. In addition":
They're completely delusional.
The markets present assessment of fair value is just 79 cents whereas the directors in their "infinite wisdom" think its worth materially more than $1.90.
Even those super super cheap heavily discounted $1.05 shares as part of the rights issue just over a year ago don’t look too cheap anymore
Easy come, easy go they say
Suppose Susan meant this when the offer was a mere $1.70:
Chair of Steel & Tube, Susan Paterson, said: “The fact that Fletchers has made this indicative offer speaks to our reputation and the strength of our business. Obviously Fletchers sees a lot of value in our business and its future potential as the benefits of our turn-around strategy start to become clear… as do we.”
Wonder what FNZC were smoking when they did these sums in response to the $1.90 revised offer -
1. Steel & Tube’s advisers’ (First NZ Capital) view on Steel & Tube’s intrinsic value is between $1.95 and $2.36 per share, excluding the company’s share of synergies.
Just noticed this is still going down, now at $0.78.
Not one of my greatest success stories.