its a decent business that got caught up in the lockdowns and has suffered as a consiquence with its EPS 43% down. What everyone needs to keep in mind is the nearly 50% market cap increase due to the issue of 205.6m shares for the purchase of landlease, a good acquisition? we will see. Looking forward however if we assume it can deliver a mininum result similar of that of 2020 (around 50m NPAT) would give a current P/E of 13
618m shares approx / eps .8c
90c sp = 13 P/E
about 8% return on the year at current SP, as I said using 2020 figures . The major question will be the intergration of Landlease and what it can add to the ROE which is average year after year at 10%
Don't expexct to see her at 2.40 again for some time, if its at 1.4B market cap it will need to increase earnings by about 105%
can it be done? well I might take a small postion and see
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$1.99 |
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