Had a quick glance at this one... I've been a supporter of the intelligent investor for quite some time but have to say I can't see the attraction in this one at all.
Fundamentals look terrible. New competitor with a superior E-catalogue in Europe looks to be cleaning up there.
Forecast net profit of $15m next FY, company capitalised at over $200m.
Where their main prized asset is just bits of 1's and 0's, I'd certainly require much higher profits to justify the shaky nature of the asset. I mean, software changes with the speed of light, any old bright kid off the block can come up with a better program after spending some time behind his computer.
Have to stress though only had a brief look at the co. I'm totally baffled at how it holds its price where it is. Based on what I know I'd only be comfortable paying a PE of 5 for IFM, which equates to $75m or roughly 20cps.
I'd imagine the director dumping nearly all of his $0.5m IFM stake on market wouldn't help sentiment much either.
buy this one for yield not gain, page-2
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Last
$1.76 |
Change
-0.005(0.28%) |
Mkt cap ! $659.5M | |||
| Open | High | Low | Value | Volume |
| $1.75 | $1.77 | $1.75 | $204.2K | 116.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4141 | $1.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.77 | 3709 | 3 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| IFM (ASX) Chart |