MCP

[naki]

MCP, anyone any idea why this stock has taken off in recent weeks-up another 8cents today

[miner]

Because everyone wants to get into McPherson?:D[8D];).

[pajama]

must admit i was wondering the same thing.
have held MCP for a couple of years on basis of reasonable yield and lowish PE. with recent rise in price this is no longer case. of course i sold 2/3 of holding a couple of weeks ago on basis PE getting too high and yield too low only to watch them rise. traditionally a steady performer, unsure as to why the sudden rise. profit annoucement soon i think, perhaps will be a stunner; someone thinks so anyway.

[winner69]

Shareprice murdered lately and all way down to 60 cents .... no wonder a heavily discounted (-50% odd when announced) rights issue at 100 was cancelled

AGM today said things were looking quite promising this year and they expect earnings to be 25 cents so getting some around 80 cents today looks a good deal to me ...... but keep an eye on those charts and make sure tight stop losses are in place

[mark100]

EPS expected to be up 10% for the FY. Trading on a forward PE of under 8. Yield will probably be around 7% FF

[Joshuatree]

26c div this year ex div now,PE 9 div yield10.4 Managemnt confident divi repeatable great contrarian buy. Bought today

[Joshuatree]

Down today to $2.08 ish on lower forecasts after a record year. Div ahead still looks great re 10% ish ,my guess. Print division could list sep and buy Opus to create a much larger co not all based on trad print. We will for better or worse ,receive shares in this new vehicle. Debt down to 28% and still great cash flows. Topped up today but who knows where the bottom is as people /inst bail ,hopefully overeacting:)

[soulman]

I hope Phaedrus is not reading this. But each to their own.

[drillfix]

LOL Soulman,

If Mr. P were to be reading these threads, he would have enough dirt on nearly everybody to run a guilt parade, including myself.

But then, as you say, each to their own, if you can trade and survive in these markets, then in a few years time when or if a reversal does come it will be like a walk through the candy shop (IMO).

So yes, each to their own, which also includes each of our methods or ways of just successfully survive. Or it is for me at least anyway.

[Joshuatree]

Like your drift drillfix , successfully survive indeed ,just holding onto ones money a challenge in this wallowing mkt. Im holding and looking for more stocks that can pay a divvy thru the hard times and believe MCP can do this, i may catch a falling knife but today anyway the sp held around my contrarian buy. Hey soulman i think you need to dial an exorcist:t_up:

[soulman]

Indeed Drill. I want to emulate P strategy as much as possible, hence I try not to buy downtrending stock. Also, with MCP, their debt level, even though decreasing, still a worrier for a business of MCP type. Also, just reading Phaedrus previous post, I reckon the man has made plenty of $$$ based on his wisdom and strategy.

Today's profit downgrade might be one of many to come but for your sake JT, I hope I am wrong.

[Joshuatree]

Debt levels coming down significantly eg gearing 80% 2007 , 28 % today i like that and am comfortable with it,excellent reducing. 39c per share earnings, $51 million operating cashflow. "Retail spending has posted its biggest monthly growth in more than 2 years". Im building a long term stake in MCP i do very little trading but take your point re down trending . The whole market is very difficult and if MCP drops to say an 7-8 % divi its still a great defensive income stock , im not clever enough to pick a bottom.Thanks for "hoping Im wrong" but presuming youre right?:)

[soulman]

Yeah JT, if I thought MCP was a screaming buy, I would have bought a few.

Still, the share price has been factored in a downgrade of this magnitude but as I see it, this is the first profit downgrade and many could follow.

The demerger might see it through the tough times. I always want people to make a buck in the sharemarket (it is a tough game) so hopefully MCP div yield and PE ratio can support the price above $2.

I am watching MCP but as a general rule of mine, I don't try to pick bottoms as they are hard to locate.