FWD is looking more and more like a turnaround story IMO.
Clearly unloved in recent times (as a former market darling that bitterly disappointed), however, FWD has transformed itself from market leader in the design, manufacture and supply of transportable buildings targeting the FIFO mining sector to focusing on the education and affordable living sectors. This transformation, based on the recent report, is proving successful. Going forward, the fundamentals look sound on a forward projection basis:
EPS FY15: 16.1c, 7.7c or 4.3% dividend. EPS FY16: 22.6c, 12.6c or 7% dividend.
On the technical side, FWD has clearly capitulated from its lofty heights as a high-yielding, mining services market darling and has been building a base for some time. RSI shows FWD is oversold and IMO FWD is currently at the bottom of its earnings cycle and poised for a turnaround. Anyone buying now is picking up shares at the lowest prices in over 10 years.
IMO there's both significant growth and yield to come!
I'm ringing the bell!!!
FWD Price at posting:
$1.81 Sentiment: Buy Disclosure: Held
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