I wouldnt buy this stock today, but can I just say that both Patersons and Southern Cross have buy ratings on this stock. I realise the past relationship these brokers have had (cap raising managers) with the company, but their earnings/dividends forecasts are almost too good to ignore. Or maybe for this reason we should ignore it.
Eg: EPS for FY10 is 10c, div 5c. Thats a PE of 0.46 and yield of 108%
Even on 09 numbers the forecasts are again, approx 8c, 4c respectively. You'd think that Westpac, soley based on these numbers, would allow the company to keep trading. Admittedly I havent bothered to understand the exact nature of the breach but if its just cash flow vs interest cover there shouldnt be a problem.
I wouldnt buy this stock today, but can I just say that both...
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Mkt cap ! $171.1M | |||
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