MPG - Metro Glass

[Beagle]

Hi enzedex

Welcome to the forum. I feel sorry for you. Its not a stock I really follow but the brokers seem to like it with a consensus valuation of $2.00
http://www.4-traders.com/METRO-PERFO...972/consensus/

In my view concerns over the Chch rebuild having peaked are probably a little overdone especially in as much as there's still a really rampant building boom going on in the much larger Auckland market.
Consensus eps for FY16 is 15 cps. My usual personal yardstick I use for building companies is a PE of 10, because of the cyclical nature of their earnings. On this basis Fletcher Building is wildly overvalued and I have though as much for a VERY long time now and MPG is now slightly undervalued. Watch their response to the NZX price enquiry to see if that shed's any light on the situation.

Hopefully Winner will share his greater expertise with regard to this stock shortly. In terms of throwing good money after bad...my personal viewpoint is I am reluctant to buy any stock when its established a clear trend downwards until there is clear evidence of the chart forming some sort of bottom. Fundamentally it must be approaching a value buy somewhere around these level's but it could well be a value trap and I'd prefer the chart (technical analysis) to be lining up with fundamental analysis before considering buying.

Edit, he already has. I'd be attending the ASM and closely looking at the outlook before deciding to buy more if I were you.