If current price is 15x last years earnings then I have estimated 15x current earnings based on my estimates.
For reasons some have pointed out, $4.74 is a pretty pessimistic price estimate but the impact that IO, Oil and Copper will have of BHPs profitability is pretty dramatic.
It will be interesting to see how SP responds when HY earnings are announced, whether priced in already or whether some people are in for a shock.
BHP Price at posting:
$17.15 Sentiment: Sell Disclosure: Not Held
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