Ann: CSR Limited Announcement of buy-back - Appendix 3C, page-14

I jumped on board yesterday, healthy Div and upside in share price to come in my opinion. See below Deutsche upgrade from yesterday's FN Arena newsletter. I believe whilst property prices may have peaked there will still be a lot of construction/development over the next few years.

"Deutsche Bank rates CSR as Buy (1) - Deutsche Bank has updated its forecasts for aluminium and currency in line with its quarterly review. FY16 underlying profit estimates are unchanged.
Deutsche Bank reiterates a Buy rating and raises the target to $3.93 from $3.87.
Target price is $3.93 Current Price is $3.33 Difference: $0.6 If CSR meets the Deutsche Bank target it will return approximately 18% (excluding dividends, fees and charges). Current consensus price target is $3.38, suggesting upside of 1.6%(ex-dividends)The company's fiscal year ends in March.
Forecast for FY16:
Deutsche Bank forecasts a full year FY16 dividend of 26.00 cents and EPS of 33.00 cents . At the last closing share price the estimated dividend yield is 7.81%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.09. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.7, implying annual growth of 27.3%.Current consensus DPS estimate is 22.5, implying a prospective dividend yield of 6.8%.Current consensus EPS estimate suggests the PER is 10.5.Forecast for FY17:
Deutsche Bank forecasts a full year FY17 dividend of 28.00 cents and EPS of 36.00 cents . At the last closing share price the estimated dividend yield is 8.41%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.25. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 31.3, implying annual growth of -1.3%.Current consensus DPS estimate is 22.9, implying a prospective dividend yield of 6.9%.Current consensus EPS estimate suggests the PER is 10.6.
Market Sentiment: 0.3 All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources"