The JSE and finance forum for South Africa
General Category => Shares => Topic started by: carfan on March 13, 2014, 04:23:16 pm
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Does anyone have any thoughts on Esor?
Obviously have taken a hammering of late, post the sale of the Geotech division and subsequent special divi.
However currently trading at near 80% discount to NAV (tangible if I'm not mistaken). Civils loss making contracts out the way and division restructured. Pipelines growing. Developments not contributing too much, but not loss making. Bernie (CEO) sounds positive on way forward.
Maybe an overreaction in the market?
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I do not know much about Esor, sorry. I do however think that the civils in RSA is not to busy. Note I am not a expert on this.
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Shame. Wonder if they can go lower. I can't go back far enough to see where the SR levels are. Is there anything seriously wrong with the company? This might just be a Buffet share. Maybe they get the contract to build the toll roads in the Western Cape? 37c Per share. I would buy it and put a stop at 33c. Speculative share?? As long as you have time. For now they have a support level at 34c. It might get tested and then bounce a bit. This is pure speculation.
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I used to hold these shares in my portfolio but got rid of them when contracts that were awarded were cancelled or they did get other tenders see their sens of 10 05 2010. When this came out I sold my holdings as the company just became too risky. The share price got as high as R 6.30 as I recall and then started dropping after the mentioned sens and I got out - I did make a small profit on getting out but I certainly didn't make as much as I should have but that life.
Personally I would not consider going back into this counter. If I considered any I would go for Aveng as they are still getting work and recently finished the large shopping centre here in Jhburg - Cradlestone. I also think they are involved with the extension of Menlyn Mall which is a R 2.2 billion expansion and refurbishment
Just my personal views do not act on it
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Thanks gcr. Well carfan, there is something better just around the corner.
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Okay Esor is testing support with a doji. If you get a longish green candle on Monday, you have a Morning Star. So let's see what happens on Monday. This share is literally sitting between a rock and a hardplace. The top of the doji bumped against resistance and the bottom of the doji bumped against support. Doji's are indecision points. It's make or break time.
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Esor has got an engulfing candle. Let's see if it can get itself out of the pit it's in.
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so is it good time to buy, or wait and see?