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Thread: Silver Chef SIV

  1. #1
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    Default Silver Chef SIV

    SIV looks good value. Growth has been pretty good since listing and for FY10 EPS of 26c is forecast giving a PE of under 7 and a FF div yield of around 9%. ROE is around 20%

    Chart is also starting to look ok. Share liquidity is poor however.

    I would like to see SIV re-rate to a PE of around 10 over the next 6 months

    I hold a few

  2. #2
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    Yes, I also have followed SIV for a while and bought a few earlier this year. Still undecided as to how much I like it, so it's just a small hold.

  3. #3
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    Earnings upgraded again. EPS of 28c giving a FY10 PE of around 6.6. And its trending up...

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    Yes, nice result. Wishing I'd bought a few more now - I think I got mine about $1.42, so looking good today. However, I'm not the best on financials - haven't really studied them enough to be confident about leverage ratios etc.

    Anyway, good pick there Mark.

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    Was about to push the sell button a week or two ago, but the chart has resumed its upward trend and fresh buying interest seems to have emerged. Its a bit of a tiddler, and the size of my holding is commensurate, but the fundamentals are a healthy bunch.

  6. #6
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    I sold after it went ex div in the 2.35-2.40 range. Missed the recent bounce back

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    I sold my handful on the chart and to use funds elsewhere. With divs, had more than doubled my money, so thought there might be better picks for the next 100%, but will keep it on watch.

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    On the rise, again. Price chart seems to follow a stepped formation - my stairway to heaven!

  9. #9
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    I regard SIV as fully priced at $3 unless they exceed my expectations of earnings growth for next year. I reckon there is a good chance of a capital raising soon after the results come out. They've dropped plenty of hints along the way and the increase in the debt facility probably indicates they'll need some equity as well to keep gearing ratios etc in check. So not a bad idea to hold on to a few to be on the books

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    Quote Originally Posted by mark100 View Post
    I regard SIV as fully priced at $3 unless they exceed my expectations of earnings growth for next year. I reckon there is a good chance of a capital raising soon after the results come out. They've dropped plenty of hints along the way and the increase in the debt facility probably indicates they'll need some equity as well to keep gearing ratios etc in check. So not a bad idea to hold on to a few to be on the books
    Now that they have breached the $3 "barrier" I doubt that it will stop there, having regard to the relative buying strength and the momentum that has built up. Remember, markets tend to over-run. And P/E is just over a very modest 8, based on past results.

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