FWD issues are structural:
* The business has been geared to manufacture accomodation units for the mining industry - the big camps are inevitibly iron ore and coal related - the expansion phase for both of these commodities is over in this cycle (at least a 5 year phase until Japan or someone else picks up)
* Accomodation utilisation and rates in the Pilbara are falling rapidly as Oil & Gas construction tapers off - workers are leaving Gorgon project and Pluto projects - without a big ticket onshore development such as Browse to soak them up
* Share price has been held up by dividend yiled - last year they had to issue debt to maintain the dividend - I doubt they will be able to sustain the same dividend in the future
* Caravan sales are not coming back - majority of the costs are in AUD so it was not a FX problem anyway - consumer sentiment is weak and people are preferring to pay of their home loan, not spend $150k on a new caravan
I think FWD will settle around the $5 mark ... it will not be distasterous collapse but it is clearly one of the few remaining mining services stocks that hasn't been sold down properly.
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Last
$1.68 |
Change
0.030(1.82%) |
Mkt cap ! $158.1M |
Open | High | Low | Value | Volume |
$1.65 | $1.72 | $1.65 | $63.80K | 38.03K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9999 | $1.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.75 | 13840 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 9999 | 1.680 |
1 | 1000 | 1.670 |
1 | 2247 | 1.660 |
1 | 2790 | 1.645 |
1 | 121817 | 1.640 |
Price($) | Vol. | No. |
---|---|---|
1.750 | 13840 | 1 |
1.790 | 5831 | 2 |
1.810 | 7200 | 1 |
1.830 | 6720 | 1 |
1.850 | 5000 | 2 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
FWD (ASX) Chart |
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