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  1. #691
    ShareTrader Legend bull....'s Avatar
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    Quote Originally Posted by Balance View Post
    $6m NPAT and eps of 8.7c = Trading on historical PER of 8.7 times.

    As a recovery stock, should be trading a higher PER but market wary and probably rightly so.

    Next major step up in sp likely however when Cavalier starts paying dividends again.

    Yield will be very yummy.
    there total debt to equity is comparable to past yrs now but still think they need to reduce long term debt more before divs but agree when divs restart should be a juicy yield at this price
    one step ahead of the herd

  2. #692
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    Quote Originally Posted by bull.... View Post
    there total debt to equity is comparable to past yrs now but still think they need to reduce long term debt more before divs but agree when divs restart should be a juicy yield at this price
    Agree market will be watching very carefully where they are with debt when they report in August 2016.

    2015 AR : "We are now well-advanced with the implementation of these plans, with the end result a tightly focused and profitable operation – underpinned by a stronger balance sheet and with net bank debt expected to be somewhere between $35 and $40 million by the middle of the 2016 financial year, compared with $53.9 million at the end of June 2015."

    Interesting that the company actually reduced debt to $32.4m - below the target debt level stated above.

    Could be a nice surprise dividend in August 2016? In which case, I expect the sp to hit $1.00 by year end.

    Just my own views BTW. DYOR!

  3. #693
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    I attended the AGM last year and was impressed enough to start purchasing. Have been ever since and was not overly surprised by the latest profit upgrade. The F/Y will be interesting and once and if dividends are reinstated then this should go up in price. As Balance said, the PE is very low but many may be gun shy, but that was the old board and this new board till now have not disappointed with the appointments and general direction the company has taken. Time will as always tell.

  4. #694
    Legend Balance's Avatar
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    Quote Originally Posted by blackcap View Post
    I attended the AGM last year and was impressed enough to start purchasing. Have been ever since and was not overly surprised by the latest profit upgrade. The F/Y will be interesting and once and if dividends are reinstated then this should go up in price. As Balance said, the PE is very low but many may be gun shy, but that was the old board and this new board till now have not disappointed with the appointments and general direction the company has taken. Time will as always tell.
    Enough signs there of a sustainable turnaround to give some of us confidence. Cavalier has a good name, good manufacturing facilities and a good distribution network to leverage off.

    It is rather sad that this iconic NZ company nearly went the way of Feltex under the previous board and management. Too many years of stale ideas (Alan James was in the job and company since 1995! His successor, Wayne Chung, was the finance CEO and had been there even longer than Alan!) even while the market changed from under and around the company.

    Once owned the shares when the company was paying 40 cps fully imputed dividends a year!

  5. #695
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    [QUOTEOnce owned the shares when the company was paying 40 cps fully imputed dividends a year! ][/QUOTE]

    Ah, those were the days! Three dividends per year there for a while!

    Disc: Still have a few - unfortunately - but might be tempted to re-build the holding!

  6. #696
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    Quote Originally Posted by Balance View Post

    It is rather sad that this iconic NZ company nearly went the way of Feltex under the previous board and management. Too many years of stale ideas (Alan James was in the job and company since 1995! His successor, Wayne Chung, was the finance CEO and had been there even longer than Alan!) even while the market changed from under and around the company.

    Once owned the shares when the company was paying 40 cps fully imputed dividends a year!
    Ah those were the days. Yes three dividends per year and stock price of $5. What surprised me at the last AGM was that Grant Biel re-stood for election and that he was elected. There is no reason whatsoever for a director to be there that long. Yes he may have been the founder but surely give a token position (like founding member) but not on the board. I voted against him and thought the mood was ripe to get rid of him. Still his voice will (hopefully) be inconsequential and I think it was the past board, long in the tooth, that did not respond adequately to a rapidly changing market.
    To now the new board have responded well to what has to be done and here is hoping they made the correct choice with the CEO.

  7. #697
    ShareTrader Legend bull....'s Avatar
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    need to see cost of goods sold come down that will get your divs closer, inventorys should be declining as wool prices are falling now and lower oil price helps as well
    one step ahead of the herd

  8. #698
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    Happy holding. Build up holding for while

  9. #699
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    Looking promising at 80c

  10. #700
    ShareTrader Legend bull....'s Avatar
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    Quote Originally Posted by golden city View Post
    Looking promising at 80c
    yes cheap, I emailed company a week ago with questions to update my analysis so feel very comfortable with my holding now.
    one step ahead of the herd

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