Based on published fundamentals AIX is far superior to Macquarie Airports and Auckland International Airport as the following shows:
AIX's current SP is 45% less than its NTA, MAP has nil NTA and AIA is trading 50% above its NTA.
AIX's historical p/e is only 7.6 whereas MAP's p/e is 60.1 and AIA's p/e is 70.0.
Perhaps MAP's dividend yield pushes its SP higher? MAP's DY is 6.4%, compared with AIX of 5.3% and AIA of 3.8%.
If the continuing lift in passenger traffic gives rise to a lift in DY hopefully and finally we may see a decent lift in the SP to well above $2.50 where based on MAP and AIA it belongs.
Takeover candidate?
support building nicely, page-2
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