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.
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$15.32 |
Change
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Mkt cap ! $2.763B |
Open | High | Low | Value | Volume |
$15.24 | $15.34 | $15.19 | $320.0K | 20.99K |
Buyers (Bids)
No. | Vol. | Price($) |
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7 | 526 | $15.32 |
Sellers (Offers)
Price($) | Vol. | No. |
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$15.34 | 334 | 4 |
View Market Depth
No. | Vol. | Price($) |
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4 | 206 | 15.240 |
4 | 453 | 15.230 |
3 | 454 | 15.220 |
3 | 688 | 15.210 |
3 | 365 | 15.200 |
Price($) | Vol. | No. |
---|---|---|
15.260 | 789 | 6 |
15.270 | 167 | 4 |
15.280 | 473 | 5 |
15.290 | 253 | 3 |
15.300 | 1028 | 5 |
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