Normal
Doesn't seem an obvious over reaction on the face of it when you look at their FY24 guidance. Several costs aspects up: expensive incentives to resume (to employees?), tax rate up, interest and lease costs up, capital investment up, advantageous fx hedging expires.If I take mid range FY24 eps guidance at 0.67 us (0.57 - 0.77 us), that would be 0.98 au.Comparing that to $1.81au actual eps in FY22 which produced return on equity of 10.4% I get a rough as guts estimated ROE of only 5.6% predicted for FY24:[(0.98 ÷ 1.81) x 10.4% = 5.6%]But anyway, that's probably only worth 1 x book value unless you have confidence that higher historical profitabilty will return (which admittedly seems a fair bet). Book value in FY22 was only 18 bucks - tack on another dollar or so, maybe $19 - 20 by FY24.Not Held[ATTACH=full]159706[/ATTACH]
Doesn't seem an obvious over reaction on the face of it when you look at their FY24 guidance. Several costs aspects up: expensive incentives to resume (to employees?), tax rate up, interest and lease costs up, capital investment up, advantageous fx hedging expires.
If I take mid range FY24 eps guidance at 0.67 us (0.57 - 0.77 us), that would be 0.98 au.
Comparing that to $1.81au actual eps in FY22 which produced return on equity of 10.4% I get a rough as guts estimated ROE of only 5.6% predicted for FY24:
[(0.98 ÷ 1.81) x 10.4% = 5.6%]
But anyway, that's probably only worth 1 x book value unless you have confidence that higher historical profitabilty will return (which admittedly seems a fair bet). Book value in FY22 was only 18 bucks - tack on another dollar or so, maybe $19 - 20 by FY24.
Not Held
[ATTACH=full]159706[/ATTACH]
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