NVT - Navitas Limited
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Re: NVT - Navitas
i have only began looking at this stock..
was surprised 5 mins to notice that earnings per share was increasing at a faster rate relative the rate of decline in book value per share
this means that the company is getting smaller(in asset value) yet earnings per share is growing at a faster rate relatively to it..
It's my first time looking at this type of sitution. i would assume that even thou the company was able to obtain a much better return on assets,
the fact that it prefers to distribute those earnings to shareholders would imply there was a lack of growth opporunties. this is further accentuated by the recent announcement of a company buyback..
well those was my take, any1 care to join in?
i have only began looking at this stock..
was surprised 5 mins to notice that earnings per share was increasing at a faster rate relative the rate of decline in book value per share
this means that the company is getting smaller(in asset value) yet earnings per share is growing at a faster rate relatively to it..
It's my first time looking at this type of sitution. i would assume that even thou the company was able to obtain a much better return on assets,
the fact that it prefers to distribute those earnings to shareholders would imply there was a lack of growth opporunties. this is further accentuated by the recent announcement of a company buyback..
well those was my take, any1 care to join in?
Re: NVT - Navitas
The company has actually grown in size and made some pretty solid announcements that indicate very good future prospects. Yet the market has barely responded. Last Friday there were, from memory, 4 sellers. From a peak of over $2.50 they have come back to under $2.
In a Eureka report of last week reference was made to Merrill-Lynch [I think it was them] as listing nvt among their 5 favoured small-cap shares.
The company has actually grown in size and made some pretty solid announcements that indicate very good future prospects. Yet the market has barely responded. Last Friday there were, from memory, 4 sellers. From a peak of over $2.50 they have come back to under $2.
In a Eureka report of last week reference was made to Merrill-Lynch [I think it was them] as listing nvt among their 5 favoured small-cap shares.
prawn_86
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Re: NVT - Navitas
Hey guys,
How about a quick summary of who these guys and what they do? And figures etc
For all us out there who havn't heard of them before. Might also help attract some more interest to the thread
prawn
Hey guys,
How about a quick summary of who these guys and what they do? And figures etc
For all us out there who havn't heard of them before. Might also help attract some more interest to the thread
prawn
Re: NVT - Navitas
Note that IBT changed its name late 2007 to NVT
From etrade website:
IBT Education Limited (IBT) is a global education service provider that offers a range of educational services for students and professionals including university programs, language training, workforce education and student recruitment. These programs are offered on a full-fee paying basis to students in conjunction with Associated Universities in a predominantly on-campus model and provide the opportunity for students to enter the Associated University's courses and obtain a university degree.
Company Strategy
IBT's growth strategy is based around three core principles: expansion of its existing operations; evolution of its current business model to include delivery of degree programmes in association with selected universities on campuses established and maintained by IBT; and targeted strategic acquisitions in the global education sector. During the 2006/2007 financial year, IBT implemented a new organizational structure. It now operates through four divisions: University Programs, English Language, Workforce & Training, and Student Recruitment. The company invested in marketing to develop new student recruitment channels in China, India, Vietnam and Indonesia. It continues to pursue opportunities in Asia, Canada, and UK. The company announced the establishment of the Wynyard Green Education Precinct. This new precinct, located in central Sydney, provides accommodation for a number of IBT's businesses and aims to become a centre of education in Sydney. IBT Education reported NPAT up 2% to $31.5m for the full year ended 30 June 2006. Revenues from ordinary activities were $226,046, up 113% from the same period last year. Diluted EPS was 8.9 cents compared to 13.7 cents last year. Net operating cash flow was $41,384 compared to $26,968 last year. The total dividend for the year was 9.5 cents compared with 8.4 cents last year. The higher revenue for the year was primarily due to the consolidation of ACL and CSM Knowledge from 1 July 2005. During the period, IBT continued its assessment of new initiatives in the UK and Canada aimed at expanding the Group's existing operations. A recognition and educational services agreement was signed with Simon Fraser University to establish a new college, Fraser International College, in Canada. In terms of outlook, growth in NPAT for the year ending 30 June 2007 is expected to be impacted by the proposed $35m capital return and the ACL acquisition in the previous year.
Note that IBT changed its name late 2007 to NVT
From etrade website:
IBT Education Limited (IBT) is a global education service provider that offers a range of educational services for students and professionals including university programs, language training, workforce education and student recruitment. These programs are offered on a full-fee paying basis to students in conjunction with Associated Universities in a predominantly on-campus model and provide the opportunity for students to enter the Associated University's courses and obtain a university degree.
Company Strategy
IBT's growth strategy is based around three core principles: expansion of its existing operations; evolution of its current business model to include delivery of degree programmes in association with selected universities on campuses established and maintained by IBT; and targeted strategic acquisitions in the global education sector. During the 2006/2007 financial year, IBT implemented a new organizational structure. It now operates through four divisions: University Programs, English Language, Workforce & Training, and Student Recruitment. The company invested in marketing to develop new student recruitment channels in China, India, Vietnam and Indonesia. It continues to pursue opportunities in Asia, Canada, and UK. The company announced the establishment of the Wynyard Green Education Precinct. This new precinct, located in central Sydney, provides accommodation for a number of IBT's businesses and aims to become a centre of education in Sydney. IBT Education reported NPAT up 2% to $31.5m for the full year ended 30 June 2006. Revenues from ordinary activities were $226,046, up 113% from the same period last year. Diluted EPS was 8.9 cents compared to 13.7 cents last year. Net operating cash flow was $41,384 compared to $26,968 last year. The total dividend for the year was 9.5 cents compared with 8.4 cents last year. The higher revenue for the year was primarily due to the consolidation of ACL and CSM Knowledge from 1 July 2005. During the period, IBT continued its assessment of new initiatives in the UK and Canada aimed at expanding the Group's existing operations. A recognition and educational services agreement was signed with Simon Fraser University to establish a new college, Fraser International College, in Canada. In terms of outlook, growth in NPAT for the year ending 30 June 2007 is expected to be impacted by the proposed $35m capital return and the ACL acquisition in the previous year.
Re: NVT - Navitas
eerm... this company acutally has a lower book value ever since it started listing.... its book value has been decreasing ever since the first year. so wat exactly do u mean by grown in size?
eerm... this company acutally has a lower book value ever since it started listing.... its book value has been decreasing ever since the first year. so wat exactly do u mean by grown in size?
Re: NVT - Navitas
I'm a novice and hence likely to be wrong more often than not. The company has expanded its involvements here and overseas, has increasing student numbers, has returned captial to shareholders, is 100% ff, continues to investigate and initiate new colleges [eg - Fraser Uni Canada]. Clearly there is more to analysis than that.
Thanks anyway.
I'm a novice and hence likely to be wrong more often than not. The company has expanded its involvements here and overseas, has increasing student numbers, has returned captial to shareholders, is 100% ff, continues to investigate and initiate new colleges [eg - Fraser Uni Canada]. Clearly there is more to analysis than that.
Thanks anyway.
Re: NVT - Navitas
yeah if u look at the previous 2 years figure u would see that the payout ratio is greater than 100%. This implies that the management is returning money greater than it's earnings back to its shareholder.
i assume there are only two logical reasons for that
1) it's a non-viable biz, thats y they are returning all the earnings
2) it's a company that doesn't require high capital,ie low capex to keep growing. Hence its trying to control the rate of its growth by returning the money
if it was the second reason, this implies that perhaps the company doesn't really have that well-defined growth opportunities.
ie, imagine ur BHP and u haf lots of money and the IRR and NPV for taking over RIO is much greater than paying back to its shareholder
obviously its the wiser choice to acquire rio and keep growing.
that was my take, any comments?
yeah if u look at the previous 2 years figure u would see that the payout ratio is greater than 100%. This implies that the management is returning money greater than it's earnings back to its shareholder.
i assume there are only two logical reasons for that
1) it's a non-viable biz, thats y they are returning all the earnings
2) it's a company that doesn't require high capital,ie low capex to keep growing. Hence its trying to control the rate of its growth by returning the money
if it was the second reason, this implies that perhaps the company doesn't really have that well-defined growth opportunities.
ie, imagine ur BHP and u haf lots of money and the IRR and NPV for taking over RIO is much greater than paying back to its shareholder
obviously its the wiser choice to acquire rio and keep growing.
that was my take, any comments?
Re: NVT - Navitas
I think point 2 is interesting.
They began, well before listing [2004?], with one college in Australia. Now they have about 11 in Australia, Africa, UK, Canada.
My impression is that they take great care to identify potential. I can only see them growing.
Etrade analysis summary has 2 strong buys, 1 buy and 3 holds - nothing below that.
Is there any comparison to ABC Learning I wonder...
Who knows?
I think point 2 is interesting.
They began, well before listing [2004?], with one college in Australia. Now they have about 11 in Australia, Africa, UK, Canada.
My impression is that they take great care to identify potential. I can only see them growing.
Etrade analysis summary has 2 strong buys, 1 buy and 3 holds - nothing below that.
Is there any comparison to ABC Learning I wonder...
Who knows?
Re: NVT - Navitas
at least i can conclude the management is not randomly squandering the company earnings and maintaining a highly respectable ROE and ROA. that's all i can say... but i would appreciate if any1 who's in that industry care to join in the expected growth for universities expansion and education
at least i can conclude the management is not randomly squandering the company earnings and maintaining a highly respectable ROE and ROA. that's all i can say... but i would appreciate if any1 who's in that industry care to join in the expected growth for universities expansion and education
Re: NVT - Navitas
I bought in around $1.90 some months ago.. It's a very good business it just doesn't have the volume and so doesn't get trade often.
I prefer it this way because I can get nice dividend incomes with steady stock grow price as well.
Education is something people are always willing to pay for(in boom and bust time), especially the Asian market.. Asian put very high priority on education.
It is entrance in their culture and from very young age they always push their kids to study as there is other way of making money but to go to school
get a degree and get a job
This stock is very much similar to the US Apollo Group stock (http://finance.google.com/finance?q=NASDAQ:APOL)
and I use that as a guidance on how this industry perform
I will probably average down on this stock if it drop below $1.90
I bought in around $1.90 some months ago.. It's a very good business it just doesn't have the volume and so doesn't get trade often.
I prefer it this way because I can get nice dividend incomes with steady stock grow price as well.
Education is something people are always willing to pay for(in boom and bust time), especially the Asian market.. Asian put very high priority on education.
It is entrance in their culture and from very young age they always push their kids to study as there is other way of making money but to go to school
get a degree and get a job
This stock is very much similar to the US Apollo Group stock (http://finance.google.com/finance?q=NASDAQ:APOL)
and I use that as a guidance on how this industry perform
I will probably average down on this stock if it drop below $1.90
Re: NVT - Navitas
Price still pretty much stagnant and volume is low. [Still they have performed better for me than CBA recently.......]
However there was another strategic growth move announced yesterday, after close, which should prove to be an excellent one in a great market -- a new college in Singapore.
Be nice to see a bit of market action as I think their current buy-back has not been helpful to the SP at all.
Price still pretty much stagnant and volume is low. [Still they have performed better for me than CBA recently.......]
However there was another strategic growth move announced yesterday, after close, which should prove to be an excellent one in a great market -- a new college in Singapore.
Be nice to see a bit of market action as I think their current buy-back has not been helpful to the SP at all.
Re: NVT - Navitas
It seems this is not a stock of much interest on ASF. That may be because education is not a common area of investment or because it is a stock that is one of limited trading. Nevertheless it has been a very good one for me. I'm wondering also whether it is just a reflection of the current overall market that NVT can announce yet another overseas university [this time a beauty imo] and then see the SP watered down by a very small number of low volume trades.
One day I may be granted by greater understanding of the vagaries of investment.....
It seems this is not a stock of much interest on ASF. That may be because education is not a common area of investment or because it is a stock that is one of limited trading. Nevertheless it has been a very good one for me. I'm wondering also whether it is just a reflection of the current overall market that NVT can announce yet another overseas university [this time a beauty imo] and then see the SP watered down by a very small number of low volume trades.
One day I may be granted by greater understanding of the vagaries of investment.....
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Re: NVT - Navitas
The balance sheets look good to me for Navitas? Am I too late to get on board. Anybody wish to comment?
The balance sheets look good to me for Navitas? Am I too late to get on board. Anybody wish to comment?
Re: NVT - Navitas
A 5 year chart may give your answer. Charts don't prvide all the answers of course so thorough research is critical.
Again I emphasise that I hold this stock.
A 5 year chart may give your answer. Charts don't prvide all the answers of course so thorough research is critical.
Again I emphasise that I hold this stock.
