Declining EPS, page-7

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matches88

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12/03/23

17:10

Post #: 66722160
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Originally posted by joewolf: ↑

There is only one broker that seems to put out actual consensus for SOL - That is Morgan's. In fact the numbers you quote and I found on the Commsec platform are exactly the same as those on Morgans.

Morgans has an add rating on the stock. The Price target is $29.60

In reading past Morgans notes - It appears that they are reflecting the cyclical nature of its investments in BKW and NHC as the reasons for the volatility in earnings. Really this is a hybrid LIC. It owns subsidiaries or consolidated equity accounted investments and then last year it deconsolidated NHC as it only owned 39.9%... The financial statements are a dogs breakfast with accountants creating a mess of it all.

The measure I use is Net Cash flow per share from Investments: That was 96cents last year and dividends were 72c. The dividend (base) has increased or stayed the same for at least 20 Years.

Reality is that given the size of BKW , NHC and TPG the results can be lumpy. They can sell a large investment and make a huge profit. You cannot smooth an investment company but what you can do is measure sustainability of dividends. At 75% it seems sustainable. The Milton's merger does make it a bit more confusing.

My current preferred entry to this group is BKW. although I own all - BKW NHC SOL - Not TPG

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Thanks Joe et al, much appreciated on yr thoughts esp NCF/share and agree the focus should defntly be long term performance.

SOL Price at posting: $28.25 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $41.92		Change 0.390(0.94%)		Mkt cap ! $15.39B

Open	High	Low	Value	Volume
$41.61	$41.92	$41.41	$2.935M	70.34K

Buyers (Bids)

No.	Vol.	Price($)
10	463	$41.91

Sellers (Offers)

Price($)	Vol.	No.
$41.92	42	4

View Market Depth

No.	Vol.	Price($)
11	471	41.910
6	569	41.900
17	1330	41.890
10	834	41.880
4	267	41.870

Price($)	Vol.	No.
41.920	30	4
41.930	81	2
41.940	217	11
41.950	323	7
41.960	277	12

Last trade - 12.04pm 26/06/2025 (20 minute delay)

SOL (ASX) Chart

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