re: Ann: Market Update - Management Rights fo... Regarding valuation.....the results I think, 05 and 06 relect SHV's significant leverage to the 'water cycle' and 'almond price cycle'
Rainmaker, taking what I consider a conservative approach I've considered the results for 2009 for the food division and management services (after allowing for a margin squeeze) and the 2007 results for the company owned orchards.
On that basis I figure EPS (excluding the Timbercorp bad debt) of 50 cents is a reasonably conservative base going forward. With a pe ratio of 12 that equates to a share price of $6.
Funnily enough I thought SHV was undervalued this time last year and in my calculations on that occasion I also concluded that a return to at least $6 within a year or two was feasible, prompting me to top up my holdings at just under $3.
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$4.19 |
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Mkt cap ! $507.2M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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2 | 903 | 4.140 |
2 | 845 | 4.130 |
1 | 121 | 4.120 |
1 | 121 | 4.110 |
Price($) | Vol. | No. |
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4.200 | 1668 | 2 |
4.210 | 782 | 1 |
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4.230 | 121 | 1 |
4.240 | 131 | 1 |
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