I'm a yes, took up the full 1:3 offer on my existing shares. If we assume the 7c EPS is somewhat accurate moving forward (analysts have 9c for FY 22 and 23), it comes to a PE of 12 at $0.9 per share which is great for a pseudo construction/utility company like Service Stream, especially considering the lofty valuations currently in the top end of the ASX.
In this modern MMT driven economy, state and federal government need to splash cash to keep the economy going. Eventually we are going to have an adequate number of roads, bridges and railways and should spill over into improving and future proofing our utility network. Incoming chip shortage also means FTTP construction coming online from NBN in the forthcoming months.
SSM Price at posting:
94.8¢ Sentiment: Hold Disclosure: Held
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