CDA 1.37% $11.82 codan limited

correction appears overdone

  1. 327 Posts.
    lightbulb Created with Sketch. 1
    The market response following the recent profit guidance appears harsh.

    Very rough calculations would see the current half year result come in at around 9-10c NPAT per share. CDA is not talking a LOSS - it is about a reduced PROFIT from the recent excellent but perhaps rather lofty levels of the last two half-yearly periods.

    Plenty of room for a healthy dividend still exists and even if the payout for the final half is reduced to a very conservative 4c per share then at the current SP this an annual yield of over 6% fully franked.

    I have a small number of CDA shares and have already bought a few more at these lower levels - would like to have the spare cash to buy a few more!

    My expectation is that once the volatilty of the current market settles a little then there will be a steady progressive upward re-evaluation of the SP of CDA - and I see that happening sooner rather than later (IMHO).

    I believe that fund managers have dumped the stock until the final figures for the second half (and the full year) are released and will review things after that - these results should be announced around early August 2013.

    DYOR - these are just my thoughts - don't rely on me for your investment decisions.

 
watchlist Created with Sketch. Add CDA (ASX) to my watchlist
(20min delay)
Last
$11.82
Change
0.160(1.37%)
Mkt cap ! $2.134B
Open High Low Value Volume
$11.64 $11.85 $11.62 $439.4K 37.30K

Buyers (Bids)

No. Vol. Price($)
10 475 $11.82
 

Sellers (Offers)

Price($) Vol. No.
$11.84 507 10
View Market Depth
Last trade - 12.10pm 05/07/2024 (20 minute delay) ?
CDA (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.