Well, 55% gain, divvies - and a sausage sandwich! Life is good for you Roger.
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The last few posts have turned to rubbish.
Back to Heartland.
Thanks
If it hadn't for those completely ridiculous few weeks early this year when the share price shot up to 140 (and its subsequent decline) one could say that today is almost a new all time high
Things all back to normal - strong steady increases from here .... 130 ....140 and then to 160 next year
But keep an eye on those charts and lock in profits (like Roger did) if things don't quiet turn out as expected
I think Heartland is worth no more than 12 times forward earnings so 12c max for FY16 gives a valuation of $1.44. You can buy ANZ in Oz at 10 times earnings and NAB/CBA etc at 12-13 times. Heartland is more tax efficient from a NZ yield perspective and does have some growth runway as a second tier operator with so many competitors knocked over in 2007-2010 period but it is still a BBB rated small player so for me 12 times is fully valued.
I'll hold for the medium term and see if Jeff can continue to tidy HNZ up from an ROE and bad loan perspective because maybe 15c or so EPS is doable giving a $1.80 valuation in say 3 years time and a strong yield while we wait.
Just my 2c worth
Having good run after few horrible few months recently, $1.30 in the near term I reckon.
Why not if the markets stay stable, like I've said the Harmoney and reverse mortgages investment is not really rated by market, more gains to come I reckon.