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  1. #11
    ? steve fleming's Avatar
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    Quote Originally Posted by steve fleming View Post
    I am in this now JT.

    Trading on a FY14 EV/EBITDA of 6 x

    CCZ Stanton have a target of 80c
    Ord Minnettt have a target of 95c

    Consensus FY13 EBITDA is $4.85m so under/outperformance of that is the key number to look for when they report.
    (RXP have previously provided EBITDA guidance of ~A$4.5 million to ~A$6.0 million)
    Solid result (normalised EBIT of $5.15m) but great outlook statement.

    "FY14 Revenue forecast to grow > 40%

    Expect FY14 EBITDA margin to continue to grow
    "

    That gives FY14 revenue of $42.2m @ (current) 20% margin = $8.5m

    Current EV = $39m

    So trading at 4.5x - looks way too cheap to me given growth profile.



    EDIT: there is actually $5m of deferred consideration, so EV is actually $44m, so trading on 5x
    Last edited by steve fleming; 28-08-2013 at 08:43 PM.
    Share prices follow earnings....buy EPS growth!!



  2. #12
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    Yes ,fab. Share price up 10c , 16% on open.

  3. #13
    ? steve fleming's Avatar
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    Quote Originally Posted by Joshuatree View Post
    Yes ,fab. Share price up 10c , 16% on open.
    Closed at an all time high today.

    i suspect this will continue to re-rate over the next few weeks with a $1 initial target.
    Share prices follow earnings....buy EPS growth!!



  4. #14
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    Steve

    This looks very exciting! Pitty it is so thinly traded - i couldn't get any without chasing the price up.

  5. #15
    ? steve fleming's Avatar
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    Quote Originally Posted by Corporate View Post
    Steve

    This looks very exciting! Pitty it is so thinly traded - i couldn't get any without chasing the price up.
    Illiquid stocks re-rate the best.

    Thats why I try to take advantage of buying opportunities when they present themselves (i.e. when there was the big sell down of RXP at around 60c a couple of months back)
    Share prices follow earnings....buy EPS growth!!



  6. #16
    ? steve fleming's Avatar
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    Quote Originally Posted by steve fleming View Post
    Illiquid stocks re-rate the best.

    Thats why I try to take advantage of buying opportunities when they present themselves (i.e. when there was the big sell down of RXP at around 60c a couple of months back)
    break out day...overhang gone??...is the re-rate on??

    Cannacord have initiated coverage with a 96c target
    Share prices follow earnings....buy EPS growth!!



  7. #17
    ? steve fleming's Avatar
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    Further confirmation of the growth story today:


    http://stocknessmonster.com/news-ite...E=ASX&N=397294


    "We expect cash flows from operations to continue to build and our strong cash position at the end ofthe quarter leaves the door open for us to take advantage of opportunities to continue the growth bothorganically and through further acquisitions".


    A real favourite of the Australian Capital Network gang
    Share prices follow earnings....buy EPS growth!!



  8. #18
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    Quote Originally Posted by steve fleming View Post
    [/I]

    A real favourite of the Australian Capital Network gang
    I hold but if anything that is my concern. Everyone already loves RXP so it may be harder to re-rate. I like those under the radar stories that no one talks about!

  9. #19
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    Quote Originally Posted by mark100 View Post
    I hold but if anything that is my concern. Everyone already loves RXP so it may be harder to re-rate. I like those under the radar stories that no one talks about!
    Is it really that well known? Morningstar and Skaffold both show only one analyst following (Skaffold only has two 'likes') and CommSec has zero analysts following. Not a great number of posts on
    HC either from what I can see.
    Last edited by ozzie; 15-11-2013 at 12:44 AM.

  10. #20
    ? steve fleming's Avatar
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    Quote Originally Posted by ozzie View Post
    Is it really that well known? Morningstar and Skaffold both show only one analyst following (Skaffold only has two 'likes') and CommSec has zero analysts following. Not a great number of posts on
    HC either from what I can see.
    ozzie, wouldn't pay too much attention to Skaffold, a second rate product that not even Roger Montgomery himself uses.

    there are at least 3 analysts that current cover RxP ( Cannacord, Ords and Wilsons)

    if you look at h/c, Tbf and ACN sites, think you'll find all the usual suspects who you think would be interested in a stock like RXP are already in it
    Share prices follow earnings....buy EPS growth!!



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