The JSE and finance forum for South Africa
General Category => Shares => Topic started by: EjazMahomed on September 19, 2016, 03:29:01 pm
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Anyone have a view on Finbond? Currently at R2.70 with a large institution backing.. Highest for the year is R5 and trading update recently mentioned up to 45% increase in EPS. New business roll out in North America as well to diversify holdings and lower risk as well.
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Find it odd that it has been falling after that TS. Think it's a good buy for the future - it's a share I am holding in my LT CGT portfolio. Think it's a smart move to move into the States.
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Definitely bargain prices at the moment! Its touched the lowest point of the last 3 years. With current EPS of round 13c (after trading statement), R2.60 would only be at a PE of 20. This share has traded upwards at a PE of 60 before and with potential in North America I think fair value is at least R4. Note that directors and major shareholders excercised their rights at R3.35 almost 30% above current prices. I picked up a chunk over the last week. No brainer.