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- TRA - Turners Automotive Group [previously TNR - Turners Limited]
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09-01-2019, 08:04 PM
#3941
Originally Posted by Beagle
https://www.marketscreener.com/TURNE...14/financials/
EPS Actual earnings for the FY2018 28.9 cps
EPS Forecast Analyst average FY19 26.7
EPS Forecast Analyst average FY20 24.8
EPS Forecast Analyst average FY21 27.9
Average analyst forecasts do not suggest the business is in great shape in terms of eps growth...anything but.
Share price has gone nowhere, (actually backwards in the last 4 years) and there's nothing in those broker forecasts that would indicate a dramatic turnaround anytime soon.
I am sure someone will try and put a positive "spin" on those forecasted numbers but investors might like to consider how long said investor has been talking this up and what's actually happened to the share price in recent years and make up their own minds.
Nobody talks about the rise and rise of Trade Me stealing market share off physical stores...
I look at Turners like starting a winery.Takes a few years for the grapes to produce,and then time to sell.
Turners have built up the foundations for a great business.
Trade Me is used by Turners and most vehicle sellers,yet Turners find car buyers still like to visit car yards,and that is why Turners are expanding their footprint.
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09-01-2019, 08:05 PM
#3942
Originally Posted by winner69
...and forest might point out that net debt has increased from $238m to $306m in same period that Percy used for assets and equity
And what has the debt been used for.?
It has been used to expand sites,buy sites,finance and insurance receivables.ie building the business.
All the time gaining Turners market share.
Last edited by percy; 09-01-2019 at 08:07 PM.
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09-01-2019, 08:08 PM
#3943
Originally Posted by percy
And what has the debt been used for.?
It has been used to expand sites,finance and insurance receivables.ie building the business.
"........and pay exorbitant dividends?
”When investors are euphoric, they are incapable of recognising euphoria itself “
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09-01-2019, 08:14 PM
#3944
Originally Posted by winner69
"........and pay exorbitant dividends?
Now that statement depends whether you hold TRA or not.!
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09-01-2019, 08:29 PM
#3945
Originally Posted by winner69
...and forest might point out that net debt has increased from $238m to $306m in same period that Percy used for assets and equity
You know W69 in 1990 you could have brought EBO for under $3mil......
Today debt has blown out to over $2 billion.
Rather a stupid arguement?
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09-01-2019, 08:35 PM
#3946
Originally Posted by percy
Shareholders equity has improved in the past year from 32.25% to 33.02%.
Total assets have increased to $658,193 from $622,372.while shareholders' equity has increased from $200,736 to $217,347.
All the time assets such as the "new" Wiri site has most probably doubled in value since TRA brought the site.
The Turners and BuyRight sites have expanded,while the insurance business has bulked up.The finance business has added 120 or more originators.
The business is in great shape,and the directors wisdom of bulking up all parts of the business is proving to be sound.Vertically intregrated business,with strong brands.
Share holders equity has increased but this is because share holders are capitalising the company faster than it is spending. What is important that equity per share increases and what I see is a company that had 80 mil shares at the end of financial year 2018 and close to 89mil at present. By my calculations in the 1H19 equity per share has reduced from app $2.68 to $2.55.
As I said before maybe it needs more time but ..............
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09-01-2019, 08:37 PM
#3947
I hear there are three car carriers trying to get into Port of Auckland.
Can't get in because there is no room to unload the cars.
BuyRight Car's slow down must mean POA is grid locked.!!.....lol.
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09-01-2019, 08:40 PM
#3948
Originally Posted by forest
Share holders equity has increased but this is because share holders are capitalising the company faster than it is spending. What is important that equity per share increases and what I see is a company that had 80 mil shares at the end of financial year 2018 and close to 89mil at present. By my calculations in the 1H19 equity per share has reduced from app $2.68 to $2.55.
As I said before maybe it needs more time but ..............
What is really important is the long term structure and value that is being added to each division.
Bit like a vineyard buying more really productive land.It will produce the results in years to come, and will continue to do so.
The right decissions or plantings some times do not produce the goods for a year or two,or in a vineyard 3 to 5 years time.
Last edited by percy; 09-01-2019 at 08:42 PM.
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09-01-2019, 08:43 PM
#3949
Originally Posted by winner69
"........and pay exorbitant dividends?
I'm quite happy with them, no need to wait 6 months either. PS-Only downside is that it will take 3 odd yrs worth of them at current SP to get my paperloss back.Lol
Last edited by couta1; 09-01-2019 at 08:50 PM.
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09-01-2019, 08:46 PM
#3950
What changed in Note 7 that required them to re-submit the Interim Report?
Was it something to do with the vineyard not producing as much wine as they expected
Should have elaborated a bit more than just say corrected
Last edited by winner69; 09-01-2019 at 08:50 PM.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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