re: if amp is such a dog explain this.
AMP has a forward P/E ratio of 17 and forecast of $0.38 EPS.
not what I would call cheap.
Why should it trade at a premium to Promina, IAG, AXA, and QBE?
AXA, IAG, PMN, and QBE have forward P/E's of 14.5, 11.3, 12.5, 12 respectively.
If AMP trades in the vicinity of a P/E of 12 its shareprice would be $4.56 (12*0.38)
Nobody said this will happen, but it's not totally unreasonable.
Analysts prediction don't have to come true (re EPS prediction). The profit report in August will tell the story.
special dividends are nice and all but don't drive shareprices long term. There is also an opportunity cost with using profits for special dividends. WYL has had a few nice special dividends lately aswell. ;)
AMP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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