Underlined bit in the quote above nearly completed, hopefully this keeps "going to plan".
Pretty rough come back track that is for sure.
But far from the disaster territory that is sub $1.50
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Hey tj ......almost same price as Heartland (I know different currencies)
Some feat eh
For both F19 will see record profits, double digit growth, increased divie on the horizon and both great companies.
Just highlights when over $2 both were outrageously overvalued and sensibility has prevailed and both about where they should be. Not too much difference in their price book ratios now.
Heartland probably very lucky to get near double digit growth while flexi almost certain (so the mid point between 8% and 13% would indicate)
... and we won't go into EPS growth for heartland vs FXL... FXL going to look like a superstar there
some say HBL EPS growth for FY19 not even going to be 2%
Record profits for both at least...
Price to book you say? Interesting as FXL has usually traded at a much more bigly price to book ratio than HBL historically...
One thing is for sure, one of them was certainly overvalued at $2+, but that same one had the nice warm and fuzzy story to suit (at the time)
It certainly wasn't the come-back-kid FXL
How contrasting the Year to date charts are... one is flat, the other down a quarter... will be interesting to see where each end up come years end
It's a pretty horrible looking 5 year chart on this one. I'm not so sure it deserves to be at current levels but clearly the market knows more than I. Long term holding on the ASX seems to be a rollercoaster of emotions with much head scratching. When mid/short term trading, at least I welcome any volitility...
ANZ dont do YTD charts but 1 year charts look pretty ugly
All the unfounded irrational exuberance for FXL - it was good as got a few good divies ...but had to give one back - as Mr P often said the market giveth but the market also taketh away
the 'gap' is quite something that is for sure... you're right about the aussies not being happy with the lot of them... that completely unregulated company a few times bigger than fxl that only listed a few years back (the same one that gave hundreds of dollars to under-aged, unverified, unemployed kids to buy alcohol online) has nearly halved in price in the past 2 months... but story is too strong for it to go down to any remotely reasonable valuation
Flexi now have a good relationship with the regulators, so they say, but skeptics be skeptics
Getting worse by the day tj
You were joking in one of your recent posts about $1 weren’t you?
did not think it would sit below $1.70 for long, if at all.. but wowee... $1.59 just after the open today.
Crazy that in almost exactly 2 months, the share price fell up to 70 cents (over a third), despite positive revisions by brokers (following a robust annual result and strong FY19 guidance) and a current mean estimate of $2.50 per share. Virtually no analyst 3 months ago expected flexi to be guiding for a potential $100m+ in FY19 either... yet here we are... $1.59 at one stage today and that dividend yield creeping ever higher.
But at the end of the day, once the panickers had finished panicking, FXL finished down less than some financials (eg ANZ and AMP) and around about the same as most other financials so no worries... no need to get too excited yet
except that unregulated after pay company which defied the odds to finish up bigly
AGM in a few weeks will likely confirm how cheap FXL is
Or explain why it has fallen so dramatically in barely 60 days
Hey winner, look at that, FXL actually up today despite nearly all other financials going down and the ASX 200 itself down over 1%... I would have thought FXL was the very first to go down on a day like today (Although nearly went under the $1.60 mark again)
I suppose FXL's share price ups and downs really don't make sense... but then again we know it hasn't made sense for a good past 2 months now
Even afterpay couldn't stay in the green