Originally Posted by
Antipodean
Just as many people looking to get in. I should know, I'm one.
I understand people who have/were already invested over the past 5 years or so are likely not too happy. Understandably. I've been there.
For me, from a perspective of a relatively new investor (1st buy Oct 2020) looking forward, I am liking what I see.
Aside from all the insider buying late last year, the fundamentals are offering a potential upside from here.
TWR now has a dividend policy of 60%-80%... reported full NPAT adjusted... [23/2/2021, 8:31 am MKTUPDTE]
Earnings guidance for next full year is 5% above previous year underlying NPAT of $28.4m
Even if we take out the 5%, HY NPAT $14.2m @ 70% NPAT would be ~2.4 cps dividend. This is close to their indicative dividend of 2.5cps.
At current .88 sp, that is a annualised 5.4% gross yield off the bat.
On the other side, a 28.4m NPAT is 6.7 (c)eps which at .88 sp that is a p/e of just over 13.
After completing all the recent investments internally and acquisition wise - should expect some growth in there perhaps?
Other insurers (admittedly not nzx - no listed direct comparisons in industry) usually go for 18+ p/e.
Even at 16 p/e that is a sp of $1.07 which is a 22% increase from here.
Really looking forward to the HY next month.