Far too much benefit of doubt being given to the management on this forum. Q2 result was bad, Q3 is plain terrible. PBT ratio of 3.1% for Q3 while the previous years it has generally sat at high 3%. I thought Q2 was a blip but with Q3 being this bad a pattern is emerging. Annualized, the Q3 NPAT is sitting around $67m (EPS 0.375c) so the bottom line is doing worse than the previous year on a run rate basis.
I no longer hold any DDR after I took my rose colored glasses off! Still a great company but I would like to see better commentary from management and a turn around in NPAT before dipping my toes back in. On current runrate basis the stock is trading at a PE of 28 even after today's SP fall. With no growth on the horizon the PE should be no more than 20 imo so I see no value in the stock above $8 per share and that's assuming they can return to positive growth.
The quote from David about how this quarter '...almost feels like a a gain' is one of the most unprofessional and lazy bit of commentary I have ever read from a CEO.
Ofcourse, the PBT ratio might improve drastically but I no longer consider it wise to invest on that basis as there is no solid commentary that confirms this to be the case.
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$9.36 |
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Mkt cap ! $1.683B |
Open | High | Low | Value | Volume |
$9.35 | $9.40 | $9.25 | $1.374M | 147.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 874 | $9.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$9.36 | 2854 | 1 |
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No. | Vol. | Price($) |
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2 | 874 | 9.310 |
1 | 1937 | 9.290 |
1 | 995 | 9.280 |
1 | 995 | 9.270 |
1 | 995 | 9.260 |
Price($) | Vol. | No. |
---|---|---|
9.360 | 2854 | 1 |
9.370 | 995 | 1 |
9.380 | 2778 | 6 |
9.390 | 3379 | 4 |
9.400 | 1407 | 2 |
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