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  1. #1881
    Speedy Az winner69's Avatar
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    Australia not working for Metro while NZ hangs in there

    http://nzx-prod-s7fsd7f98s.s3-websit...050/296875.pdf

    The insto investors demanded ‘growth’ thus the expensive foray into Australia. Paid too much (hence write down) and will continue to be a drag on Metro’s performance. Shareholders (esp instos) deserve what they get sometime.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #1882
    ShareTrader Legend bull....'s Avatar
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    Quote Originally Posted by bull.... View Post
    they purchased aus glass at the top of the apartment cycle in aus so do you really see amazing growth coming from there?
    hasnt this prediction come so true
    one step ahead of the herd

  3. #1883
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    Australia not working for Metro while NZ hangs in there

    http://nzx-prod-s7fsd7f98s.s3-websit...050/296875.pdf

    The insto investors demanded ‘growth’ thus the expensive foray into Australia. Paid too much (hence write down) and will continue to be a drag on Metro’s performance. Shareholders (esp instos) deserve what they get sometime.
    Oh dear - they say downgrades come in threes. But there have been so many and I lost count ... anybody remembers which number this is?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  4. #1884
    Legend Balance's Avatar
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    Quote Originally Posted by BlackPeter View Post
    Oh dear - they say downgrades come in threes. But there have been so many and I lost count ... anybody remembers which number this is?
    Must be #4?

    This one, I will warrant to add, is already priced into the stock - on today's update, stock is trading on PER of 6.7 times.

    Which is why Bain Capital wants it - buy cheap and some years later, sell to the dumbo institutions and investors who love buying hype and at top of the cycle.

  5. #1885
    ShareTrader Legend Beagle's Avatar
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    With the goodwill write-down which is probably grossly inadequate in its size, the headline number on 23 May is going to look very ugly.
    I see no reason to rush buying this mutt. Has all the hallmarks of a value trap.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #1886
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Balance View Post
    Must be #4?

    This one, I will warrant to add, is already priced into the stock - on today's update, stock is trading on PER of 6.7 times.

    Which is why Bain Capital wants it - buy cheap and some years later, sell to the dumbo institutions and investors who love buying hype and at top of the cycle.
    cheers.

    I agree as well that the share looks currently on a PE basis reasonably priced, though it might be worthwhle to recalculate the forward PE based on todays announcement. I would think it would be now above 7 (3 years forward and assuming the latest earnings guidance impacts only on this year). Still ok-ish for a non growth company.

    Not so sure yet though about the new CEO - his CV showed him job hopping a lot in the past staying in many of his jobs only around one year before he moved on. At this stage I am not sure whether it would be good or bad for the company if he stays with this historic pattern.

    But hey - they say people can change ... maybe he just needed that many attempts to find the job he likes and is really good at ;
    Last edited by BlackPeter; 18-03-2019 at 08:52 AM.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  7. #1887
    Speedy Az winner69's Avatar
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    Quote Originally Posted by BlackPeter View Post
    Oh dear - they say downgrades come in threes. But there have been so many and I lost count ... anybody remembers which number this is?
    Downgrades always come in multiples because it takes time to slow down an out of control train ...and sometimes it’s not slowed enough and there’s a big crash
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #1888
    percy
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    Quote Originally Posted by winner69 View Post
    Downgrades always come in multiples because it takes time to slow down an out of control train ...and sometimes it’s not slowed enough and there’s a big crash
    As the old saying goes "no surprises here",from this serial underperformer.

  9. #1889
    Legend Balance's Avatar
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    Another opportunity to catch a few reef fishes.

  10. #1890
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Balance View Post
    Another opportunity to catch a few reef fishes.
    .. good stuff - price drop repaired the forward PE. At 46 cents it is in my books back to 6.3 ;
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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