Hey Every1, I am new to sharetrading and researching all different companies. I came across NOMAD and realised they just went public in October. It started 1.40, and now 1.95, been to 2.28 by looks and div paid interim of 3.5 cents f/franked.... I'd guess another 1 in about 4 months. Was wondering if any1 here has these shares or would have any more insight on them? I believe its a good strong company with little competition.
thanks.
Hi NODdy followers - are there any out there? A very dead thread.
I have followed the SP for 6 months and has been a downward story, however yesterday's Intersuisse report was quite confident and encouraging. Have taken an excerpt for your information.
Impact Some fall in the share price was inevitable and justified. NOD will not
grow as fast as some might have hoped. However, even with no growth or if
profits come under such pressure as to return to FY07 levels, fundamentals
would be attractive with a sub six times P/E and franked yield over 8.5%.
But in fact we expect figures in the order of those shown in the table. NOD
dividend guidance is for 50% payout and franked. NOD’s customers include
substantial mining and resource groups and the company says it will benefit
from some slowdown in its sectors.
Recommendation Impact We see
””no premium, although NOD is in a sector with sound long-term prospects
””no reason for a discount for excessive debt – which is clearly not present
””no sign of irrational exuberance by executives who have ‘skin in the game’
””no guidance indicating fears for a collapse of contracts or business
In fact, we can only attribute the current price to NOD being overlooked by the
market, creating a special opportunity to buy into the long-term growth
prospects for the resources accommodation suppliers, at knock-down prices.
I am interested in people's reaction and analysis.
When I looked at the business I would not have been able to foresee "some fall in SP was inevitable and justified." Hindsight is a wonderful thing. Of course I am more concerned with the validity of their predictions and thus would value any reader's considerations.
Cheers
Golf
disc: I do not hold.
Closed at $1.06 today with strong buying evident. Hartleys has initiated coverage labelling nod as undervalued compared to peers. It has a forward p/e of 8.4 withan industry average of over 11.
They have a $1.39 price target
Bear points:
- Price / NTA is greater than 3. From an asset perspective, quite expensive.
- Operating expenses have blown out big time - despite the surge in revenue profits dropped in 09.
- The current ratio of the company is <1, potentially indicating a liquidity problem.
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