On yesterday's Rural Bank profit announcement and reading the BEN results yesterday I did a quick back of fag packet calculation.
Rural Bank full year earnings before tax ~ $ 70 M
BEN P/E based on results ~ 10: 1
Rural Bank value based on 10: 1 PE = $700 M
ELD's 40% share = $280 M
ELD market cap even after yesterday's leg up - $262 M.
Says to me she still has a long ways to go, BEN said yesterday they are on the acquisition path. I reckon if ELD put their stake up for $300M BEN couldn't get their wallets out of their pockets fast enough.
PA only
Looking at BEN - Rural Bank was one of their most profitable segments.
rural bank
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$9.23 |
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Mkt cap ! $1.461B | |||
| Open | High | Low | Value | Volume |
| $9.26 | $9.29 | $9.17 | $1.685M | 182.8K |
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| 21 | 1424 | $9.22 |
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| Price($) | Vol. | No. |
|---|---|---|
| $9.23 | 1946 | 14 |
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| Last trade - 15.41pm 26/07/2024 (20 minute delay) ? |
| ELD (ASX) Chart |