unlike many companies that buy at overvalued SP to boost exec remuneration, i dont think that applies here.
Some examples - Westpac raised capital and simultaneously paid a dividend. NAB raised equity at 14, and did a share buyback at 28. ANZ raised equity at 18 now, and did a buyback at 27. Qantas did a share buyback at 5.50/6 and raised at 3.50 etc
While the share price is "high", the company couldnt do a buyback at $1, because they were in debt and not much profit. Now they are debt free, and trading on a PE of 1-2x. Does it make sense to buyback shares if you are trading at 1-2x earnings? I think so. Does it make sense to do a buyback at 18 - 20x earnings? no..
Target $9.36, page-1604
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Last
$8.71 |
Change
-0.260(2.90%) |
Mkt cap ! $7.286B | |||
| Open | High | Low | Value | Volume |
| $8.88 | $8.89 | $8.65 | $51.18M | 5.859M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 25352 | $8.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.72 | 43859 | 3 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| WHC (ASX) Chart |