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23-05-2015, 02:58 PM
#1311
A big part of my portfolio too - vying with EBO for top spot among my NZ stocks! Most of them - both IFT and EBO - are long held although there's been some top-ups along the way. Great examples of the benefits in holding good stocks long term and allowing their value and dividend income to increase.
Last edited by macduffy; 23-05-2015 at 03:00 PM.
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23-05-2015, 03:04 PM
#1312
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23-05-2015, 05:53 PM
#1313
Originally Posted by benjitara
PE of 4.6. Share price discount on tangible assets of around 20%. Giving great returns to shareholders and profit guidance for next year meant to be strong. Am I missing something or is IFT a winner every day of the week
good result for sure - a doubling of EPS , but it would appear to be all from discontinued operations and capital gains.
However, they forecast an increase next year as well.
Capture.JPG
They deal very well this company, and I guess a bit of volatility will come from that. But upside volatility is all good.
Last edited by peat; 23-05-2015 at 06:05 PM.
For clarity, nothing I say is advice....
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23-05-2015, 09:56 PM
#1314
Originally Posted by peat
good result for sure - a doubling of EPS , but it would appear to be all from discontinued operations and capital gains.
However, they forecast an increase next year as well.
Capture.JPG
They deal very well this company, and I guess a bit of volatility will come from that. But upside volatility is all good.
Yes headwinds from sovereign funds chasing infrastructure investments but have good pipeline of developments in retirement sector and Australian windfarms.
Plus unrealised gains/potential in Wellington Airport,Z Energy & Trustpower
All positive for medium term outlook
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24-05-2015, 11:25 AM
#1315
Originally Posted by peat
good result for sure - a doubling of EPS , but it would appear to be all from discontinued operations and capital gains.
However, they forecast an increase next year as well.
Capture.JPG
They deal very well this company, and I guess a bit of volatility will come from that. But upside volatility is all good.
Just out of curiosity - where is this forecast (520 ... 550) (and the actual 453.4) you are quoting coming from? Plain fantasy, wrong currency - or did you get the wrong thread? Current IFT SP is 322 (as we speak) and consensus forecast is 338 (with a range from 324 to 349) - check out http://markets.ft.com/research/Marke...asts?s=IFT:NZC.
And yes, the company had a good run over the last 16 months or so - however not sure, where in the view of some of the up-rampers here significant future earning boosts are supposed to come from. Trustpower? Good company, but power companies seem to be currently past peak. Retirement Industry? Yep, I expect some long term appreciation, but no short term jumps; Public transport? Yeah right ...
All solid industries and I agree that IFT was long term a good investment - though feels at the moment fully priced (as many others, I must admit).
Last edited by BlackPeter; 24-05-2015 at 11:37 AM.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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24-05-2015, 11:36 AM
#1316
Originally Posted by benjitara
PE of 4.6. Share price discount on tangible assets of around 20%. Giving great returns to shareholders and profit guidance for next year meant to be strong. Am I missing something or is IFT a winner every day of the week
Yes, including the one off sale in Australia they had a quite good PE in FY2015. However - not sure, how you expect them to repeat this exercise next year? Keep selling the same cake and eat it too?
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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24-05-2015, 12:23 PM
#1317
Originally Posted by BlackPeter
Just out of curiosity - where is this forecast (520 ... 550) (and the actual 453.4) you are quoting coming from? Plain fantasy, wrong currency - or did you get the wrong thread? Current IFT SP is 322 (as we speak) and consensus forecast is 338 (with a range from 324 to 349) - check out http://markets.ft.com/research/Marke...asts?s=IFT:NZC.
And yes, the company had a good run over the last 16 months or so - however not sure, where in the view of some of the up-rampers here significant future earning boosts are supposed to come from. Trustpower? Good company, but power companies seem to be currently past peak. Retirement Industry? Yep, I expect some long term appreciation, but no short term jumps; Public transport? Yeah right ...
All solid industries and I agree that IFT was long term a good investment - though feels at the moment fully priced (as many others, I must admit).
EBITDAF numbers as per reports and presentations. Continuing operations
Best measures underlying performance
Last edited by winner69; 24-05-2015 at 12:27 PM.
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24-05-2015, 12:42 PM
#1318
Originally Posted by winner69
EBITDAF numbers as per reports and presentations. Continuing operations
Best measures underlying performance
Ah thanks - I see. Sometimes it is useful to present numbers in context (and with units ...)
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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25-05-2015, 10:44 PM
#1319
Originally Posted by BlackPeter
Ah thanks - I see. Sometimes it is useful to present numbers in context (and with units ...)
ah, sorry for the confusion BP
thought it was obvious.
I agree about your questions re where this forecast profit comes from exactly, hence my questioning the PE of 4.6 stated by someone when it is all discontinued or one off profits.
All stats have their ability to be exploited for exaggeration. That said I do tend to think, based on past experience IFT just might keep to their word.
For clarity, nothing I say is advice....
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26-05-2015, 03:44 AM
#1320
Originally Posted by kiora
Yes headwinds from sovereign funds chasing infrastructure investments but have good pipeline of developments in retirement sector and Australian windfarms.
Plus unrealised gains/potential in Wellington Airport,Z Energy & Trustpower
All positive for medium term outlook
http://home.nzcity.co.nz/finance/art...206985&cat=976
"Infratil expects to sell down its stake in the now completed Snowtown wind power project in South Australia to fund other emerging renewable energy opportunities in Australia.
At a briefing after the release of Infratil's annual earnings for the year ended March 31, chief executive Marko Bogoievski has described the sale of Snowtown as "Plan A" for pursuing other Australian renewables projects.
Infratil's stake in Snowtown is through its 68 per cent ownership of power company TrustPower.
Even with the Abbott government's decision to reduce its renewable generation target from 41,000 Gigawatt hours to 33,000GWh, Australia would still be 17,000GWh short of the new target, which was "more than enough for Trustpower to get a couple of projects away", Mr Bogoievski said.
Tauranga-based TrustPower has some 475 Megawatts of installed renewable generation capacity in Australia, 1280MW of projects in the consenting phase, and another 750MW of identified developments.
"At a minimum you would expect Snowtown to be available for sale to fund the next development," Mr Bogoievski said.
The 270MW Snowtown project cost $A430 million ($NZ466m) to build but had recently been revalued at $A730m.
"Right now, Plan A is sale of assets in Australia. A lot of the development margin is earned already," he said.
"The only thing that that forces on the (Infratil) group is a sequential view about developing our pipeline," Mr Bogoievski said, referring to the range of other investment opportunities the infrastructure portfolio owner owns across energy, transport, retirement and commercial property assets in both New Zealand and Australia."
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