The chairman is forecasting eps of 23c compared to 13c for FY12. This explains the sharp increase in the last two weeks.
Jumped today but still only selling on P/E of 7.8. I expect this will get rerated quickly to >10. If the market believes growth to be even middling sustainable, it should ramp up to P/E 15.
Current growth is coming from their gold detectors, but I think future growth will come from their radio division. The acquisition of Daniels Radio a couple months ago was a very good move. It increases Codan's market breadth considerably, particularly in Asia and Africa which will be high growth markets for Daniels products in the next decade. Codan already had a lead on competitors in these markets.
The chairman is forecasting eps of 23c compared to 13c for FY12....
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Last
$12.24 |
Change
0.360(3.03%) |
Mkt cap ! $2.214B | |||
| Open | High | Low | Value | Volume |
| $12.01 | $12.30 | $11.94 | $1.058M | 86.99K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 570 | $12.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.24 | 1458 | 13 |
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| Last trade - 14.22pm 17/07/2024 (20 minute delay) ? |
| CDA (ASX) Chart |