michael_selway
Coal & Phosphate, thats it!
- Joined
- 20 October 2005
- Posts
- 2,397
- Reactions
- 2
Hm **** this might go below $1
Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 58.7 47.2 50.4 53.6
DPS 39.8 47.3 50.4 53.9
thx
MS
Oversold? Its still a solid earning company right? Anyone here buying it today? Im not exactly all that clued up on property trusts
So, anyone up for shorting Westfield or Stockland? A 76% gain on CNP would hit certainly hit the spot (if you were short ofcourse)
I for one think it has been oversold. I bought in at market opening at 2.30 and was considering again a buy when it dropped below 1.60.
Besides the cancellation of the distribution and the withdrawal suspension, there is really no new news. We have known about these refinancing problems for months.
40c per share profit forcast and a share price of $1.65 is damn good.
Keep in mind that besides todays drop, it has fallen 85% since may.
According to my basic stats its market cap is only 1.3bil
is it really worth 1/20th the value of westfields??? When it it manages of 26bil
I don't see the appeal of buying stocks that are in free fall unless you're an institution. If you play with fire, then you're asking to get burned.
This is straight of my eTrade.
CNP: (-55.147%)
Wow. How many more billion just disappeared?
This is carnage.
Interesting, market cap is now less than 500mil, surely if they sold absolutly everything, paid out their loans, the equity left over would be more than 500mil.
1044 [Dow Jones] STOCK CALL: Centro Properties (CNP.AU) and Centro Retail (CER.AU) both downgraded to Underperform by Macquarie on uncertainty surrounding debt refinancing. Says CER's "operating earnings risk remains if the US economy deteriorates further, leading to a decline in occupancy levels." Also believes CNP will be required to sell assets at a loss, to raise cash to pay down debt and could "potentially raise equity at a deep discount." CNP down 54% at 63.5 cents; CER off 29% at 60 cents. (WEL)
14% earnings downgrade results in a 60% ish target cut?1117 [Dow Jones] STOCK CALL: Citi cuts Centro Properties (CNP.AU) price target to A$2.33 from A$8.03 after CNP announced a 14% earnings downgrade for this FY. "With assumptions of a 1% margin increase in US debt and 1.2% for domestic debt in the forecast, there may be further downside," Citi says in client note. "The timing of the refinancing in February more than anything else will influence CNP's strategic review outcomes, although we expect asset sales from lower geared (35%) funds such as Centro Australia Wholesale Fund, in which CNP has a 50% interest with asset values of A$2.6 billion in the intervening period. The tightening of the liquidity in both the offshore and domestic lending markets, coupled with its overall look-through gearing, has caused CNP to be pressured by its lenders to reposition the business." Last trade down 71 cents, or 52%, at 65 cents. (ABH)
CNP have valuable assets and must now be a takeover target. I guess Westfield are sizing up the situation as will be some of the larger super funds. To cash in on this all you need to do is find the true value before the eventual offer is made. Nothing like a fire sale to bring out the bargain hunters.
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