That's good ... and good for the shareprice
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Forbar in raptures over Metro
OUTPERFORM they sale
Geez James is enthusiastic
http://www.radionz.co.nz/audio/player/20149022
Just imagine how much glass needed to get 92% of NZ houses retrofitted to double glazing. Wow
Shareprice relatively strong post IPO as well
We've looked into double glazing our 320 square metre Auckland home which has lots of floor to ceiling glass. Inadequate return on capital employed...it wasn't even remotely close in terms of cost benefit analysis, (Ditto solar power).
Heat pump(s) and good thermal curtains are cost effective and cosy. 14.3 times earnings reflects the short term boom in the Chch rebuild, longer term, not so bright. FBU is considerably over valued in my opinion and as a cylical company wouldn't make it on to my investment radar at anything like current PE multiples. Implying a semi cyclical company is cheap because another is expensive is like saying an ice-cream at $5 at the movies is cheap because a big tub of popcorn is $10. Looks like it's my turn today to hand out reality checks.
Close at $2.00 on Friday
Been pretty solid if not spectacular since IPO three months ago
Building outlook pretty rosy for the next few years .....and don't forget all those retrofits coming up.
Every time I hear nick go on about another 300 houses here and another 250 here from these Accords I just multiple that by 20 to get the number of new windows for Metro
First profit report since IPO and within prospectus numbers
Commentary a bit bearish. Sales down because of industry constraints and challenges ahead. Market not expected to peak as high as they first thought but growth will last for longer.
Market not all that excited and down to IPO price.
Think their place in life is steady as she goes and a solid but in exciting performer.
IMHO Metro is a very risky investment. Ex-Private Equity ownership from a previous recessionary collapse. Value inflated as economic conditions improve (then sold to the public) and a few cyclical factors helping but valuation across the cycle way too high...
In saying all that the market in general is not awash with good value opportunities - time to be defensive for mine and only hold a few high quality companies with the balance in cash deposits awaiting better value
Well a nice new multi million dollar factory to competitively service the current building boom ....and share price languishes below IPO price. Now $1.66
In spite of good long term prospects this is its lot in life. Methinks its been tarred with the same brush as Fletchers and will be viewed in the same light ....solid but always a bit disappointing.
Good company now. The company will do well .......the share price will always be 'undervalued' ........but not really my type of investment.
Any guesses on when the MPG share price will stop falling? It's the only share I've ever bought on the advice of an "expert". Biggest loss I've had!
Metro Glass as a company will continue to perform well.
However NZ punters aren't that keen on NZ building related stocks. It is tarred with the same brush as FBU and STU and as such the share price will languish and if overall market sentiment continues to be a dismal it will fall further.
You'll get the dividends but can't see the share price of MPG (and the other 2 mentioned) doing much over the next year, eps with its current negative bias