I think the valuation seems fair to cheap given the outlook and the long list of issues facing the business. Just like it seemed fair to cheap when it traded at $3+ and the outlook was very rosy and ROE implying $70m+ NPAT was talked about. The market in general is most focused on the next 12 to 18 months. Who knows, but a 1% cut to the cash rate is worth 5m+ NPAT, plus book repricing going on, plus NZ is at a low point. 70 or 80 might be off the cards in the medium term unless rates get crunched back to zero, which would also mean a bad recession, but 50m seems doable.
Ann: SVR 1H FY24 Results, page-11
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Last
$1.25 |
Change
0.040(3.31%) |
Mkt cap ! $260.4M | |||
| Open | High | Low | Value | Volume |
| $1.23 | $1.27 | $1.22 | $388.5K | 312.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2845 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.27 | 439 | 1 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| SVR (ASX) Chart |