Quarterly sales definitely beat my expectations.
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SUM is the best stock to accumulate in this downtrend ...the moment market pivots this will touch the sky ...imho
Agree - solid numbers, and likely to get up this quarter ... given that spring is good for house sales :) ;
On the other hand - The say they are finishing more than 600 units this year but sold over the last 12 months only 519 new units. Beagle would be concerned, wouldn't he? ... at least if this would happen to OCA, but I am sure with SUM this is completely fine ... they just need to up their selling act a bit. All good.
Personally - while I do see SUM as a good and solid company, I see them as fully priced ... quite different to some others in the industry.
This is what my spreadsheet (at todays SP) shows:
SUM forward PE (3 yrs avg): 10.5; Earnings CAGR (forward, 3 yrs avg): 2.1; Div yield: 2.2 %
RYM forward PE (3 yrs avg): 7.7; Earnings CAGR (forward, 3 yrs avg): 8.2; Div yield: 2.6 %
OCA forward PE (3 yrs avg): 7.5; Earnings CAGR (forward, 3 yrs avg): 8.3; Div yield: 5.4 %
Sure - forward numbers always rely on forecasts, which may or may not be right ... however - given its the same bunch of analysts and the same industry do I not see how they would get it with some of the villages so wrong and with others so right?
Anyway, the numbers above clearly indicate that SUM is basically at growth saturation (with a PE which is ok, but not incredible cheap), while both Ryman and OCA both feature cheaper PE's (which is good) and seem to have as well still more growing "puff" left in them.
Discl: holding both OCA and RYM;
new sales tracking down looks evident from there latest results
http://nzx-prod-s7fsd7f98s.s3-websit...202/380740.pdf
no wonder they were saying ( hopefully ) sales skewed to q4.
Gosh, another death at the St John's construction site. Sad, somethings not right.
https://www.stuff.co.nz/auckland/auc...-east-auckland
And only last week, this one.
https://www.nzx.com/announcements/401827
True, but it sounds there is something wrong with our (NZ) health and safety regulations - NZ's construction industry has ways too high accident rates, this has nothing to do with SUM or this specific site.
Quote:
Santos warned that there were high rates of death in New Zealand’s construction industry.
“There’s been an average of two deaths per month in the construction sector. It’s not only appallingly high, but it seems to be increasing.
I notice IFT announce Anne Irlwin has joined their board,while today SUM announce she has retired from their board.
"We're sorry to see Anne leave the board but we appreciate that she is taking
on a new board position with Infratil and she wishes to manage both her
workload and any potential conflicts that may come with her new role."
So Infratil and Summerset may have conflicts ?
Are Infratil perhaps going to take over Summerset ?
Or perhaps there are more attractive targets in the Retirement industry ?