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25-02-2010, 08:56 AM
#1021
Member
Yeah exactly, earnings were a little on the light side, but on the whole a solid result, and very much in line with expectations. They expensed the cap-raising costs which makes the bottom line look pretty small, but should really start to reap the rewards of a stronger balance sheet next year.
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25-02-2010, 10:35 AM
#1022
Originally Posted by Doyle
Yeah exactly, earnings were a little on the light side, but on the whole a solid result, and very much in line with expectations. They expensed the cap-raising costs which makes the bottom line look pretty small, but should really start to reap the rewards of a stronger balance sheet next year.
Some analysts were very negative that PGW will report a bad result. Brokers were getting clients to sell before the result.
Expect the real action to start after the analysts' briefing today.
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25-02-2010, 11:09 AM
#1023
PGW multiples make ELD look too cheap.
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25-02-2010, 11:39 AM
#1024
Originally Posted by Dr_Who
PGW multiples make ELD look too cheap.
I have been buying ELD over the past week on the expectation that PGW provide a healthy report today and they have. Taking into account the consolidation, I agree - @140c, ELD does look oversold. If it closes above 140 tonight, I would call it bullish. It's result is due any day now - yes? Last year, their result was out mid Feb.
...oops! this is the NZX thread, sorry.
To foretell the future, one must first unlock the secrets of the past.
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25-02-2010, 11:44 AM
#1025
Originally Posted by Bobcat.
I have been buying ELD over the past week on the expectation that PGW provide a healthy report today and they have. Taking into account the consolidation, I agree - @140c, ELD does look oversold. If it closes above 140 tonight, I would call it bullish. It's result is due any day now - yes? Last year, their result was out mid Feb.
...oops! this is the NZX thread, sorry.
Please enlighten us of your comparison.
What are the forward multiples the stocks are trading at? Are you using cashflow or earnings multiples?
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25-02-2010, 12:20 PM
#1026
Member
I dont quite understand the equity-liability figures, where has the 200 million gone?
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25-02-2010, 12:40 PM
#1027
Originally Posted by flyingfox
I dont quite understand the equity-liability figures, where has the 200 million gone?
???? It's all there.
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25-02-2010, 12:46 PM
#1028
Originally Posted by flyingfox
I dont quite understand the equity-liability figures, where has the 200 million gone?
What don't you understand mate
What i can't understand is how can you sell so much (nearly $600m) and make so little ... when the worst year they ever had had was supossedly behind them
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25-02-2010, 02:37 PM
#1029
Originally Posted by Balance
Please enlighten us of your comparison.
What are the forward multiples the stocks are trading at? Are you using cashflow or earnings multiples?
Bobcat has gone quiet.
Hope he has not been shooting from his hip?
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25-02-2010, 02:53 PM
#1030
Balance,
Not so quiet. I have not done much fundamental analysis on this one. What I do know is:
a) a few farmers who are starting to spend more;
b) that the chinese company buying into PGW have made good investments before and are unlikely to buy a lemon (which this is not);
c) that their gearing (Debt to Debt+Equity) has improved;
d) that pre-reporting the bears ruled;
e) that it is now the bears who have gone quiet as the sp begins to rise (3.4% today and I estimate another 5% next week);
f) PGC shareholders seem to also like the report (their sp has also risen today indicating that the heavy selling may be over, even before they report)
g) technically, the sp has found good support at 58 and has bounced off nicely twice.
and there's more...but I got other work to do.
Happy trading.
Last edited by Bobcat.; 25-02-2010 at 02:54 PM.
To foretell the future, one must first unlock the secrets of the past.
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