I believe with this yield we will see a steady rise in SP. At the recent SP of $2, MYR was a steal. Still a good buy as it has both yield and excellent growth potential. MYR has been running in the shadow of both HVN and DJS.
If you look at DJS (537M) and MYR (585M) they have a very similar number of shares on issue.
If we then look at sales per share (using the 2012/13 full year figures) we have DJS @ $3.58 per share and MYR @ $4.65 per share.
The NP margin for DJS is 5.3% and for MYR is 4.7%.
It does not make sense for the DJS share price to be around double that of MYR and a rerating of MYR appears warranted and perhaps has just started to occur.
The release of 2013/14 full year results around early September should be a catalyst and I am expecting a runup in the SP leading to that announcement.
Figures quoted above are to the best of the information I have available.
DYOR as I am not a licensed investment advisor.
MYR Price at posting:
$2.14 Sentiment: Hold Disclosure: Held
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