Yes, EBOS shares are like tonsils and should only be removed if absolutely necessary.
Will definitely be the first $100 stock on the NZX.
Best Wishes
Paper Tiger
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No I sold 60% of my holding.Have retained 40%.[free ones]
Held on for the wrong reason, sentiment.
I sold as at the agm they spoke of 7% growth and the PE was well over 20.
I note the presentation at UBS confernce they altered that to between 7% to 10% growth.
The current PE is 19.29,which I feel is still too high compared to the growth rate.
I have brought two other shares, TNR and EVO, where I see their growth rates being higher than their PEs..Higher dividend yields are also attractive.
Ebos seen to be getting lots of new products sold through supermarkets, which is good to see. I think more good things to come, of course no way they can get the gains of this past year, bit still not a bad stock IMO.
EVO might not be the best choice, given the way the industry presents competition. TNR should be a winner at the right price, at least for a cyclical purchase.
Craigs initiated research this week on EVO.Comments such as "strong growth" with 12.6% eps growth this coming year and 12.8% eps growth next year.meaning a PE of 10.6 this year and 9.4 next year.Gross dividend yields of 6.5% and 7.4%.Their target price of $1.33 is a little lower than Forbar's earlier research.I paid 95cents,so am "well positioned."..lol.
TNR.I posted on TNR thread I saw eps of 35 cents in year 2018,and I would be happy with a PE of between 12 and 18 which would translate to a sp of between $4.20 and $6.30 compared to current sp of $3.50,but I think a PE of 15 would be about right, which gives a sp of $5.25.
Back to EBO.I would expect another very large acquisition within the next year or two.I still think they are an outstanding company.Have been a very happy holder for over 25 years.
Time to rebuild that EBO holding, percy? Shareprice up 2.7% today. I move a lot slower - so never sold any!
;)
Following your posts over the years,I think you move at the right speed.!!!
Fast is not always right in the long term.
In the very short term EBO is down 3.6% from the price I sold, while EVO are up 12.6% with a divie to come,and TNR are up 9.8% and I have received a small divie as well.
In real terms I have gone from a rather overweight position in EBO to an about right position.?
Being well overweight in a good company has always been very rewarding??!!
Still extremely overweight in HBL.But that's another stoey.!..lol.
Perhaps never known was that the rubber stamping of the Symbion/Ebos deal at that time, had the nod of a 96 year old.
Sadly Dr Zuellig has passed away at the age of 99 - still very hands on - not dissimilar to Charles Luney in NZ.
http://development.aim.edu/about-the-zuellig-school
This ad for this website came up on my Facebook feed
http://www.ebossport.co.nz
Can't say there is much for sale to get me excited. Would have thought would have had more in the nutritional/supplement line (IMO).
Just bought EBO shares the Masterpet business really appeals, just reckon this dog owing trend is here to stay.
Pet care is also a high margin business, that (anecdotally) isn't affected by recessions to the same extent as other produce/service purchases are.
We even bought a dog after 25 years without one - didn't know what all the fuss about dogs was now do converted and I'm guessing there are plenty of others like us too?
Half year this week I think
Stunning news to rocket share price past $20
Or has market assumed full year earniongs will be up 10% as mentioned at ASM
Just to show how wonderful Ebos is net chart below
Interin due this Wednesday.
At the AGM they spoke of 7% [eps] growth.At a later presentation they altered that to between 7% and 10%.
At at PE of 21.76 ,share price $18.29, it appears to me "the Market" is expecting growth of over 10%.?
We live in interesting times.Growth of 7% or less and I will be pleased I sold 60% of my shares.
Growth over 10% I will be asking a few questions of the CEO at the next AGM.!
Percy - PE is just under on F17 expected earnings
Still bloody high eh
Never mind the profit, look at the cash flow.
Best Wishes
Paper Tiger
Well EBO delivered another excellent result.
Even give us two or three choices for eps.?
Take your pick;.......................... 45.4 ...up 6.8%
....................underlying.............46.3... ..up 9% or constant FX up 12.7%
Today's lesson: Don't sell (any) EBO!
(Sorry, Percy.)
:mellow:
From the call last year undergrowth 16%. so I reckon they are on track to improve on that this year.
Kuala Lumpur, Malaysia. 20 Feb 2016
In an an interview today Paper Tiger declared the recently released Ebos Half Year result 'pleasing'.
When asked their opinion on the recently released Ebos Half Year result, the reply was 'pleasing'.
Retiring from the interview several persons present claim they heard the phrase 'first $100 share on the NZX'.
from a Cub Reporter for Tiger News Network
https://nzx.com/files/attachments/254044.pdf
Someone did something they weren't supposed to?
Ha! Something must have changed since yesterday?
Morningstar have up sized their valuation to $19.....will check again tomorrow.
Shortages of some medical supplies in Wellington/Hutt Valley DHB's with talk of needing to source from "alternative suppliers".
http://www.stuff.co.nz/national/heal...ical-equipment
I hope EBO isn't involved, but given their dominant position in the business, wouldn't be surprised.
Not a bad 1H result
Big move up today +85c (4.7%).
Any news or ideas? percy?
Nice surprise, can we have another 4.7% today please
Then I can dream of buying a bigger yacht.
Best Wishes
Paper Tiger
EBO announce that Peter Kraus ceases to be a director, in terms of the provisions of the company's constitution. Presumably an age-related restriction?
27 years he has been on the board.
He was the person who really encouraged Mark Waller.
Music to my ears:)
https://www.nzx.com/files/attachments/258658.pdf
Hi all...a quick question; what does everyone think is driving the particular (mostly downward) volatility on this share? my own target valuation is higher than current price, and I don't seem to be wildly out of sync with most of the forecasts out there...only factor I can think of is the Amazon effect on their AU retail, and recent board changes but seems like a harsh market reaction if those are the only factors...
(and yes, first time posting - looks like a good quality forum, hope I can help with that!)
First of all welcome.
One of EBO's competitors in Australia recently reported lower pharmacy sales,which may be rubbing off on EBO,as they have [from memory] a 50% interest in 550 Australian pharmacies.
Valuation.I don't know, but with a PE of 20.26 eps growth most probably between 7% and 10% and a yield of 3.55% some people may consider the share fully priced.
I think it's largely a "market" thing. Markets and individual stocks go up and down and the NZ and Aust markets, particularly NZ have had a pretty good run for some time now. True, EBO is in a downtrend at present - although only back to levels of 2-3 months ago - so I wouldn't be adding to my pile there until that reverses.
Ebos ticks all the boxes for me.
Most of my friends are in the baby boomer category, and most of them have ailments which either require hospital care or expensive medicines, unless the health system implodes I can't see how Ebos can lose.
These people may live to a hundred but the cost is going to be horrendous.
Throw in what the older people are prepared to spend on their dogs to keep them alive.
One friend has a dog who has a pill daily that costs seven dollars .
Thanks all...helpful. percy, your comment around the competitor result sounds like the major impact. I guess I only become concerned if it impacts longer-term results.
I'm a long-term holder, and the current downtrend doesn't change my investment thinking (as QOH outlines). Have to say, I would have thought a PE of 20 with future growth of 7-10% sounds like a pretty good deal!
Have I missed some bad news re EBO? Seems to be sinking fast.
nzd vs aud increases
full year results creeping up. possible share split coming. market seems to love EBO - over delivery experts
I think we've had this discussion (high price "expensive", low price "cheap") before. Meanwhile, stocks such as CSL (ASX) continue to trade at new record prices $100 plus. Price in the thousands of dollars doesn't seem to put anyone off Berkshire Hathaway either!
:cool:
Cochlear is another that shot way past the 100 dollar mark without bothering to pause.
Not good to start unsubstantiated rumours about share splits for Ebos, seems like Axe is just guessing.
Ebos just doing what it always does, going up and down with its share price, while the actual company keeps trucking along nicely
We really need a one for five share consolidation, to help us get up and over the $100 barrier.
Then there will be no stopping us.
API's profit downgrade because of slowing pharmacy sales spooked me,as 51% of EBO's revenue, at the half year, was made up of wholesale and retail pharmacy sales.
So I went from a large EBO holding,to selling 60% of my holding, right down to holding just 10% of my original holding.
Been a wonderful investment.Just could not bring myself to sell out completely.
Interesting movement downwards today. I'm always a little bit suspicious of a move down like this just because their wasn't any news. Perhaps a few people know more than the general investors.
The result next week is going to be interesting considering the profit downgrade from API has really scared the market off this one. I think that EBO is more well insulated than API to handle a downturn in the market. Still a fall in the market, would discount a really well run business with a great future perspective. Hoping to get a bargain on this..
SIG Sigma Healthcare's profit downgrade on 11th August would not have helped.
Yet PGC [asx] had a cracker result, and is going like a house on fire.
Macduffy posted an interesting link today, on ASX thread Paragon Care Ltd.
looks pretty good.... high single digit growth on most metrics on underlying figures.
Solid result and they seem confident with the fy18 outlook.
Yes a very credible result.Constant FX var EPS up 11.1% to 91.3 cents per share is higher than I expected,putting EBO on a PE of 19.3
The guessing game now is what do we expect eps growth to be.?
Maybe we will get an indication at the agm on 17th October.
I very much doubt it will be double digit,which means the growth rate is under half the PE ratio,or the PE ratio is twice the growth rate.
Yeah but I highly doubt EBO will get down to anything close to 1:1 ratio, I would love to get them as cheap as possible, but I have missed out on some really good opportunities waiting for the bottoms and now came up with a better idea, I just buy them every 6 weeks regardless of the price. Same day same time.... been good so far.
Percy, how do you see the exchange rate playing out for FY18?
Haha so being 100% incorrect would suggest whatever you say here, will be the opposite of what is going to happen:) so go for it lol.
Yeah using that method has been the best so far ever since you mentioned this business a few years back (thanks for that), as before that I sold out so many times but was never able to buy in at those prices again. So now I keep it simple as I do with RYM, just keep adding to the portfolio every 6 weeks and will stop once the companies dont meet their forecasts/guidance:)
I really like how EBOS gets these smaller acquisitions which they pipe into their macro business with the intention of growth from day one - so being earning accretive from the initial acquisition is just the start of adding to the EPS growth.
All acqusitions have been carefully thought out.They have known where the growth is going to come from, and positioned the business to be there.
They have turned down a great number of acquisitions, because they thought they would not fit perfectly, for a number of reasons.
Their stock control and stock turns result in very strong cashflow,which supports the smaller bolt on acquisition.
Good grief..lol. I am nearly talking myself into buying back the shares I sold.!!
RYM and EBO = "well positioned."
All too complicated for me, percy. I just remain well positioned by continuing to hold EBO, and RYM, two of the best stocks on the NZX.Quote:
Good grief..lol. I am nearly talking myself into buying back the shares I sold.!!
RYM and EBO = "well positioned."
Yes, a satisfactory result from EBO.
Pleasantly surprised with the result on this one today. This was one surrounded by doom and gloom due to all the profit downgrades and poor earnings by companies in the pharmacy business in Australia. However, it looks like EBO has really diversified well from its core business.
The acquisition is very pleasing as well, exposes them positively to that aging population dynamic. This is one that will really help long term perhaps more than short term. A new wholesale distribution site and contract logisitics site perhaps shows more growth to come.
Lesson of the day: Sell EBO at your own peril!
For me the result was exactly as expected, but I was hoping for news a bit better.
I'm looking to sell, because there are better buys, but these are definitely not a bad stock... Good dividend, fair price. No worries, but not sure how I feel about the gearing.
To add to that, I'm impressed that ebos is able to manage so much inorganic growth successfully. Credit to management.
10% constant-currency underlying EBITDA for FY18 (pdf page 15: click me).
With the dividends as well that is good?
Isn't it?
Surely that $100 a share is back on (for soon after the $20 a share)
Best Wishes
Paper Tiger
Excellent reports . Steady as she goes
Reading the presentation I got a bit tired of having to mentally adjust for currency. It is a real cost to doing business. And I'm not sure what their result is like including currency effects. Still...I am going to hold after lightening up a bit earlier in the year. Nicely diversified. Australia and NZ. Divi OK.
Cheers
RTM
A bit surprised to see EBO shareprice down this morning. Admittedly, only 10c on 2000 shares but with such a big chunk of their eanings coming from Aust these days I would expect them to be one of the bigger winners from a weaker NZD.
Agree - but suspect general sentiment impacting...
Market sees sense now and EBO back in the green numbers.
:cool: