I can't understand how it can be a 'value trap' at these prices?
The company continues to earn (yes, real profits) at rates above the high teens. The following shows the last 8 ROEs, courtesy of Comsec.
Book value at 37 cents... Last earnings was 6.5 cents.
38.4, 24.2, 21.8, 35.6, 12.5, 29.0, 17.6, 17.4
I would rather the company earn at those rates than have the money myself to invest. Can you earn that much in a bank?
At 27.5 cents it is sitting around a current p/e of 4.2. Now either the earnings will drop significantly or the share price will rise, because at 4.2, it is showing a great misrepresentation of value. (Take a look at their report, especially the graphs, to see the trend.)
I had an understanding that it was expected to earn between 6 and 9 cents for 2012, but perhaps that was from a broker??? (If so, you can forget about that.)
This is a sparkling gem...
But that of course is entirely my opinion.
:-)
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itsa figures for oct to dec 2011, page-5
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Last
95.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $118.7M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6000 | 92.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
96.0¢ | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6000 | 0.920 |
1 | 10000 | 0.910 |
1 | 1110 | 0.900 |
1 | 7500 | 0.890 |
1 | 1000 | 0.850 |
Price($) | Vol. | No. |
---|---|---|
0.960 | 10000 | 1 |
0.970 | 21098 | 3 |
0.980 | 8000 | 1 |
0.985 | 4000 | 1 |
0.995 | 15000 | 1 |
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