Ann: UPDATE ON SHARE BUYBACK ANNOUNCED DECEMBER 2019, page-6

Even if the analysts are 50% out that leaves CIM on a prospective PE of about 14-15 and a dividend yield of 3-4% as well as having a 10% EPS free kick by buying back their equity at such reduced prices. They are still winning contracts and with the various governments off the world tipping billions into infrastructure as a means to support economies throughout the Coronavirus there will be a strong pipeline of work in hand.

Given that Hotchief owns the vast majority of CIMIC and 10% of equity is about to disappear it would make a takeover a far easier to effect coupled to a declining AUD it would make the whole process cheaper too... everyone on here loves a conspiracy so there's one to mull over!

Clearly CIMIC is going to be affected by the market's shuddering falls but today it is holding up... probably the bottom for their share price however probably unlikely to move much until the whole ASX is on the up. I bought 2000 @23.36 and would buy more if I wasn't trying to buy a house next week... I think I would be looking for a new wife if I told her the deposit had gone on a purchase of shares!