Yes, rising interest rates will have little impact as most debt is fixed rate lease finance and I assume they will pay of the floating rate bank debt (bbsy plus 2.7%) as soon as possible. They only had $7.7 million in bank debt at 30 June and just over $42 million total debt. They seem to be paying off $4 million debt a quarter at present, though some of that might be maturing lease debt.
Looking at Morgans forecasts I would guess NPAT of 3-3.5 cps in FY23, which probably allows a 2cps dividend (guidance is up to 75% of NPAT, but I assume they will pay down bank debt up front).
So a PE near 11 and yield of 5% plus. The real payoff is next year when debt should be well down, EPS should be over 4 cps and the dividend 2.5-3 cps.
Probably not much share price movement until the announce the half year profit and dividend.
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Mkt cap ! $93.97M |
Open | High | Low | Value | Volume |
44.5¢ | 47.0¢ | 43.5¢ | $345.7K | 760.0K |
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No. | Vol. | Price($) |
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2 | 100000 | 45.5¢ |
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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1 | 3700 | 0.460 |
2 | 100000 | 0.455 |
4 | 45794 | 0.450 |
2 | 9500 | 0.440 |
2 | 27815 | 0.435 |
Price($) | Vol. | No. |
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0.470 | 85672 | 3 |
0.475 | 81000 | 3 |
0.480 | 36893 | 2 |
0.485 | 37871 | 1 |
0.490 | 60524 | 2 |
Last trade - 13.17pm 28/05/2024 (20 minute delay) ? |
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Change
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