CHI - Channel Infrastructure Ltd (NZR)

[Yossarian]

no idea who's right but the share split doesn't affect anything. Market cap remains the same.

[shasta]

Russ,

The NZX site shows the P/E as 3.6164 based on todays closing SP of $6.75.

ASB would not have updated their info, i use ASB Securities & often find this problem as well.

Looks cheap to me all the same & is on my watchlist

[Deev8]

ASB Securities are for some reason showing current financials as year ending Dec 2004, with 2005 as a forecast. However the 'forecast' 2005 earnings of 52.8 cps is correct, giving a P/E of 12.9 at Monday's close of $6.79.

The NZX website is also showing a P/E of 3.6 based on earnings of $1.8665 - where did that come from?

NZ Refining is also on my watchlist.

[Deev8]

ASB Securities are for some reason showing current financials as year ending Dec 2004, with 2005 as a forecast. However the 'forecast' 2005 earnings of 52.8 cps is correct, giving a P/E of 12.9 at Monday's close of $6.79.

The NZX website is also showing a P/E of 3.6 based on earnings of $1.8665 - where did that come from?

NZ Refining is also on my watchlist.

[Deev8]

Hmm - I seem to be repeating myself!

[craic]

Don't watch it - buy it. I did and its keeping me in the style to which I am not accustomed.

[shasta]

At around $6 i would, til then i have even better options on my watchlist!

[Binklebonk]

DV8 you may have also transposed a number.The CPS for 2005 was 58.2 giving a PE of 11.6 at $6.79

[Deev8]

quote:Originally posted by Binklebonk

DV8 you may have also transposed a number.The CPS for 2005 was 58.2 giving a PE of 11.6 at $6.79

Well-spotted, but no it wasn't me who transposed the digits. ASB Securities do show earnings of 52.8c per share, and today that means they are giving the P/E as 12.8 based on yesterday's close at $6.74. As you say the correct earnings figure, given in NZR's earnings announcement, is 58.2c (I hadn't spotted the transposition) so the P/E should be 11.6.

[Deev8]

quote:Originally posted by KW

Its in the definition of P/E - some brokers use past earnings only, ASB uses past and projected earnings. Although not consistently.

From ASB web site:
"Price/Earnings (P/E) Ratio
The current price divided by the average of the last actual earnings per share figure and the projected EPS figure for the next year. The two figures are weighted based on the elapsed time between each period. We use both forecast and historical EPS to give a more balanced P/E ratio than using either one alone. If no consensus forecasts are available then the EPS figure is taken from the last financial year."

Yes - but the really strange thing is that ASB Securities choose to show earnings for 2005, which was reported some time ago, as "forecasted". They are showing current financials as year ending Dec 2004.