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Member
BTW
this stock could easily have another 20% in it by 05.
a full year result of around 18-9m would see it rerated and even on a PE of 10 would give a market cap of $190m
all very reasonable assumptions imo
55-56c looks likely so another 20%.
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Junior Member
THL has had a good run lately. Interesting to compare to CDL...
<pre id="code"> CDL THL
p 0.49 1.95
p/e 6.5 17.1
NTA 0.68 1.43
div 2.9% 6.2%
</pre id="code">
The dividend and possibly diversification of revenue is the only thing in favour of THL. CDL is trading at a significant discount to NTA while THL is at a premium. Who also has the best track record?
In saying the above I still think THL has a little bit to go yet.
For a six month outlook though, I see CDL as possibly one of the lowest risk vs return stocks on the market. Especially considering the recent bull run of the NZX in general. It's tightly held and has large institutions (inc ACC) behind it.
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Member
Interesting reading.
Hey, whats up with CDI? Noticed a nice move upwards lately.
This stock shines so bright that it \"Bling Blings\"
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Member
One of the big broking houses has put a buy on them.(Beantown I think)
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Member
I've never heard of Beantown. What or who is Beantown?
This stock shines so bright that it \"Bling Blings\"
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Member
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Member
Beantown = Boston
Boston = Credit Suisse First Boston
Now called NZ First Capital I think.
They change there name so offen its hard to keep up.
Some people still call them Jardens.
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Junior Member
any one still holding cdl/mck I would apreciate coment from FA and those chart using investors/traders. The land banking aspect or NTA if you like interests me how can such an asset rich group of companies have such poor over all returns.?? is there enough liquidity as in numbers of shares traded daily for these roughies to be worth another punt.
thanks parker1other
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Hi Parker,
I don't hold any CDI at present, but I also find their asset-backing of interest. Though I don't see them as being a "punt" because the liquidity is very low and has been that way for many years.
I've often thought they'd be a good vehicle for younger investors saving for a first house - put a few $k into CDI every now and then and the value should be somewhat benchmarked to residential property values. Plus might get some benefit from the fact that you are investing in current land holdings at about half the value you could supposedly buy them.
If this was to trade at 15% discount to NAV based on updated market valuations like most other listed property generally does, the price would be about 61cps. Then again, CDI doesn't have the advantage of rental income in a quiet market.
It's hard to be sure when the next boom time will come along for CDI. Possibly a few years away. The shares lagged the residential construction market quite markedly in the last building cycle which made it a very low risk buy at the last low (from memory, about 15cps). Not sure that will happen again though.
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