TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Beagle]

I have freshly polished up my crystal ball and here's how I foresee it.
FY21 Profit well north of $35m as stated by the company, I have assumed $39m before tax which gives $28m after tax (at full company tax rate of 28%) on 85.5m shares = eps of 32.7 cps (approx. 20 cps in fully imputed dividends) I note the company had this to say about FY22 "

The combination of activity and annuity revenue businesses within the group continues to deliver improving results and provides further confidence about the FY22 year ahead".

FY22 - Full year's impact of tailwinds and momentum in the economy / sector / exchange rates / premium margins + $4m per annum in fixed cost savings = approx. $45m before tax = $32.4m after tax = eps of 38 cps.
I think a fair PE for FY22 is 13 so that suggests a target price one year hence of 13 x 38 = $4.94
At the mid point of their 60-70% dividend payout ratio fully imputed dividends could be as high as 65% x 38 cps = 24.7 cps next year which is 24.7 / 0.72 = 34.3 cps gross. That's just on a forecast FY22 gross yield of 10% on today's closing price of $3.46

[winner69]

Do we still support (with cash) Liam Lawson

Rate he’s going he will in a F1 car one day

[Habits]

I have freshly polished up my crystal ball and here's how I foresee it.
FY21 Profit well north of $35m as stated by the company, I have assumed $39m before tax which gives $28m after tax (at full company tax rate of 28%) on 85.5m shares = eps of 32.7 cps (approx. 20 cps in fully imputed dividends) I note the company had this to say about FY22 "
FY22 - Full year's impact of tailwinds and momentum in the economy / sector / exchange rates / premium margins + $4m per annum in fixed cost savings = approx. $45m before tax = $32.4m after tax = eps of 38 cps.
I think a fair PE for FY22 is 13 so that suggests a target price one year hence of 13 x 38 = $4.94
At the mid point of their 60-70% dividend payout ratio fully imputed dividends could be as high as 65% x 38 cps = 24.7 cps next year which is 24.7 / 0.72 = 34.3 cps gross. That's just on a forecast FY22 gross yield of 10% on today's closing price of $3.46

Be careful that Jacinda and Grant dont conspire against companies doing well and shareprices increasing... espectations will have to be tempered in fear of the govt big stick. On serious note Grant has been threatening the big stick against LL seeking to recover costs ... hmmm, he wont get away with that talk imo

[toddhunter]

Do we still support (with cash) Liam Lawson

Rate he’s going he will in a F1 car one day

Hi Winner69 ... yes Turners is still in the family of sponsors for Liam. We give a very modest amount to be associated with him and to assist in his push for becoming an F1 driver. He is a very impressive young guy and has had a great start to his F2 season. Cheers Todd

[sb9]

Thanks TRA for paying out another juicy and fattening divvy

[LaserEyeKiwi]

FYI: Todd Hunter (TRA CEO) is going to be doing a live Q&A with sharesies "Lunch Money" show at 12.15pm today.

https://www.crowdcast.io/e/lunch-money-todd-hunter

[LaserEyeKiwi]

FYI: Todd Hunter (TRA CEO) is going to be doing a live Q&A with sharesies "Lunch Money" show at 12.15pm today.

https://www.crowdcast.io/e/lunch-money-todd-hunter

Starting now

[Habits]

Starting now

Thanks but watching MAFS

[peat]

awesome that Todd does these sessions....

not currently holding but want to be at the right price

[Rawz]

Todd says they end up losing money on 1 in every 4 cars they buy..
Todd says they are working on fixing that with better data.

Wow lots more money to be made once they reduce that number to 1 in 5, 1 in 10, none..