BRI is looking quite interesting at these levels. I wanted to assess how much of the increase in profit since 2019 was structural step-wise changes from acquisitions / efficiencies, versus how much was cyclical and perhaps not very durable. I was pleasently surprised in my back of the envelope assessment to find that most of the EPS accretion is from acquisitions, some from Wagga/Grafton, and some from organic growth during the cycle.
Seems if you are willing to underwrite the outlook that commercial construction is strong and residential construction is only temporarily soft, then I reckon this is not a bad entry point for BRI. Valuation of ~8.5x earnings with 7.9% dividends (68% payout) and EPS growth targets of 10% (but likely only 2-3% organic and relying on the rest being acquisitions). Could get a re-rate if interest rates stop going up and construction comes back.
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BRI is looking quite interesting at these levels. I wanted to...
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Last
$1.70 |
Change
0.050(3.03%) |
Mkt cap ! $145.1M |
Open | High | Low | Value | Volume |
$1.69 | $1.74 | $1.67 | $34.42K | 20.08K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5997 | $1.67 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.72 | 521 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5997 | 1.665 |
1 | 6153 | 1.625 |
1 | 3713 | 1.610 |
3 | 10144 | 1.600 |
1 | 2500 | 1.590 |
Price($) | Vol. | No. |
---|---|---|
1.720 | 521 | 1 |
1.730 | 20000 | 1 |
1.735 | 557 | 1 |
1.740 | 3500 | 1 |
1.750 | 5130 | 2 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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