The reaction was complete B.S. The company halving its divvy is complete B.S. This market is complete B.S.^ Sorry to read that
@ $1.18 with a 5c dividend it is a good buy I wonder???
Last year it was 11.5c with the SP @ 2.86
No use asking Why? If someone with deep enough pockets wants the sp lower, it only takes a little push after a less-than-exceptional report to send the lemmings over the cliff. Every sale must have a buyer. Earlier this week, I was one of the buyers.The reaction was complete B.S. The company halving its divvy is complete B.S. This market is complete B.S.
Top 200 companies getting sold off like a crap penny stock. Why does it happen?
At the beginning of the flag pattern, I took part profit - hoping to buy back below $1.20.
View attachment 66007
That no longer looks very likely, so I'll simply hold the remainder and don't add or sell till the new direction becomes clear. The flag pattern could break any moment now to the upside.
Today's action heightened my interest also. Personally I'm waiting for a close above 156 to get involved again.A really long flag/ pennant blowing to the right. Time to get some updraft.
Volume isn't quite there yet, but it's now approaching breakout point.
We're holding with increasing confidence in its playing out to the upside.
Today's action heightened my interest also. Personally I'm waiting for a close above 156 to get involved again.
Thanks mate, timely reminder as the random-schedule results can really catch me off guard every now and then!Report due 25 May. Make sure you don't get caught holding over this unless you have a strong view on the actual results. Liquidity is terrible at the best of times.
SPO may be an alternative... essentially the same space, similar chart pattern, already reported and much better liquidity.
Okay we got a break of range now. Seems the divvy announcement coinciding with a big Index lift attracted buyers.
I think it was the confirmation of the FY17 outlook statement (which did have a few caveats around macro environment etc). EBITDA of $130m, EBITA of $100-$110m. Say ~$17m in interest, so NPAT in the range of $58m-$65m (23cps-26cps). PE between 6-7x. Looks pretty cheap on that basis.
skc said:Cash flow performance was strong as well. So a pretty solid performance considering they swallowed SKE not that long ago.
McLovin said:I think it was the confirmation of the FY17 outlook statement (which did have a few caveats around macro environment etc). EBITDA of $130m, EBITA of $100-$110m. Say ~$17m in interest, so NPAT in the range of $58m-$65m (23cps-26cps). PE between 6-7x. Looks pretty cheap on that basis.
Did anyone solve the puzzle? I'm guessing it has something to do with the ladder?
Haven't studied the picture too closely but the ladder doesn't appear to be secured to prevent movement.
There's no barrier to prevent someone crossing from the other side of the street entering the work zone.
Traffic cone and seat are close to the base of the ladder such that someone coming down could fail to see them and trip etc. Can't easily move the bench but the traffic cone could be relocated.
It looks like the intent is that someone goes up the ladder and then walks along the roof to get to whatever they need to access. Is the roof strong enough? What's there to prevent them falling off?
Assuming tools are required, how will they be taken to up? Shouldn't be carrying them in your hands since you're supposed to be holding onto the ladder when climbing it.
Depending on the task being done an EWP (elevating work platform) would be a safer means of gaining access to whatever is being accessed.
Maybe a few more as I haven't studied it too closely.
As for the stock, well I'm holding it so quite happy with today's performance.
Cash flow performance was strong as well. So a pretty solid performance considering they swallowed SKE not that long ago.
Funny that back in Feb when the company announced forecasted earnings, the stock prices got pummeled down to <$1. Today on confirmation of the same numbers the shares go up to now a high of $1.66.
Yeah the market is always right
I haven't bought any more at lower prices because I'd already reached my allocation when SKE existed (yes, it's pretty red).I Suspect the market over estimated the credit risk and underestimated the diversification of the revenue. The debt in particular is well down on even forecast and robustness of the revenue has allayed fears of more cockroaches. Its still pretty cheap - obviously not as cheap as <$1.00 Its probably not going to exceed anything above modest earnings multiples for some time but the opportunity of really low multiples assigned to get to sub $1.00 have probably passed unless something I don't expect happens with the business.
I still hold core SKE takeover shares and bought more lower. Would still be in the red too otherwise. That market reaction was extreme to get a 67% lowering of price and it shows what a powerful tool fear is.I haven't bought any more at lower prices because I'd already reached my allocation when SKE existed (yes, it's pretty red).
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