I too expect more very positive announcements.....
Biased...You have been right on the money with DPC,so I don't think you are biased at all.!!!
I see the market cap is now over $200m. They must be getting pretty close to a top 50 stock in NZ and if that did happen would that mean instos would be climbing on board? Or is the top 50 a while off because too much of DPC is closely held? Does anyone know which stock is the number 50 at the moment?
needs to trade above 25c for at least 6mths for starters
DPC has a 19.9% shareholder. The following is a list of shares that are (by my guesswork) nearly in or nearly out of the NZX50.
It assumes that DPC 19.9% stake is part of the free float.
DPC would need to make 42c to be in contention (i.e. ahead of Synlait at 264m) and I've been assured on this forum that this 'just ain't going to happen'.
If my assumptions are right, Vista, MPG and Synlait are in, and SKL, NZO and NZX are out.
ff% Curr ff RBD 100% 364 IN VGL 100% 307 STU 100% 293 PEB 100% 290 IN MPG 82% 286 OUT SKL 94% 268 IN SML 50% 264 OUT NZX 100% 256 ERD 100% 234 HBY 73% 222 IQE 75% 222 OUT NZO 80% 215 DPC 100% 208 THL 100% 189 HLG 100% 179 PGW 50% 177
I agree.
As one with knowledge of its poor background .. Also having scoffed a few posts back ... I re-cast my eyes over it.. and purchased an infinitesimal amount..
Enough to place a little cheer on the table on the 25th if i was so inclined.. with the up coming dividend.
Will be building :-)))
Thanks for your work there. I really appreciate that. I called the NZX but they were rather coy about releasing this kind of info as they said they could "sell" it to third parties and it was worth $ to them. But for DPC to get to 42 is not that much of a stretch. THe NZX also said they do their weightings for index in and exclusion on a 6 month weighted average capitalisation to smooth out any dips and rebounds etc.
As to why there is no analysts covering this stock... once they are included in an index, this may change and will provide even more share price appreciation as the market "wakes" up to its potential. Lets see what Byrnes et al can bring this year.
The takeover of Turners worked well for DPC with more than expected TUA shareholders taking DPC shares/bonds.This , with the capital raised has left DPC with funds for another acquisition.
DPC will change their name to Turners to take advantage of Turners excellent/strong brand name.
12 month target price? With strengthening balance sheet,possible further acquisitions,name change to Turners,and more runs on the board,I think 50 to 60 cents is possible.
i get valuations going forward between 37c - 53c
If you look at sector pe for financial services they can range from regular pe of 15 to shiller pe of 21.5 based on a sample of 66 stocks
sorry thats all i can say - its only become worthy of looking at now they have taken over turners and the potential which can come from that in my opinion
Turners Name Lives On Following Takeover By Dorchester
3:11pm, 18 Dec 2014 | NAME
18 December 2014
Company Announcement
TURNERS NAME LIVES ON FOLLOWING TAKEOVER BY DORCHESTER
The Board of Dorchester Pacific Limited (NZX : DPC) today confirmed that, following its takeover of Turners Auctions, it will consolidate its interests into a single listed entity, but that this will carry the Turners name. The change will take effect from 1 February 2015.
“It doesn’t make sense to maintain two listed companies, so we had a decision to make,” said Dorchester CEO & Executive Director, Paul Byrnes.
“Although proud of the achievements of Dorchester and its very successful turn-around, we also recognise the inherent value and goodwill in the Turners name, which has a lot of history and affection attached to it.”
Mr Byrnes said the company had earlier undertaken focus group research which highlighted many positive values associated with the Turners brand, including words like trust, integrity, reputable, honest, well recognised, “Kiwiness”, championing the public, heritage and longevity.
“These values represent a positive brand platform on which to develop our group businesses,” he said.
Mr Byrnes reiterated that, as has been the case with other acquisitions such as EC Credit, and Oxford Finance, the Turners Auctions business will continue to operate independently , but share some ‘back office’ functions. The Dorchester brand will still remain an important banner for the group with Dorchester Finance continuing to grow in the motor vehicle and consumer lending market.
“We are excited about this next phase of our business growth and to welcome Turners Auctions and the great team of people attached to that business into our group,” Mr Byrnes said.
“As the new guardians of the Turners brand, we are very committed to making this successful and rewarding for all involved”.
ENDS
My dividend is in the bank.!
Article in yesterday's The Press headed "Turners gains from rebuild" stated just how well Turners are doing.
"Turners CEO Todd Hunter said the firm was conducting two multimillion dollar auctions this month for businesses which had gone into receivership or liquidation.Both were construction companies- one based in Auckland and one in Christchurch."
"The company was experiencing record highs of bidding on truck and machinery auctions,and the company had seen sales double over the past three years."
"Demand is high across the country,with imports of new and used trucks increasing by 36% in 2014 compared to 2013."
So it is not only car sales that Turners are doing well with.
Those posters who thought DPC's takeover of TUA was well timed, were right.