Funny thing these forums - a big stock like BXB comes out with half year profit release - share price down 10% and no-one comments all day? What the... maybe its because its hard to find anything more boring than pallets?
So for me the issue is valuation on this one. I've been watching this for over 12 months and could never come up with a compelling reason to buy at the price levels the market was at. Doesn't seem to be anything too concerning other that margins within the Nth American market but turnover good overall. If earnings are going to be around FY17 0.50 (and this could be too high) then at 16x my valuation is $8. In this market I doubt it will go that low. Even as a yield play at $8 the yield is only 3.6% which is ok but not great given current stagnant profit.
BXB Price at posting:
$9.47 Sentiment: None Disclosure: Not Held
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