|Goldenport Holdings Inc
||COM STK USD0.1 (DI)
||EPS - Basic
||Market Cap (m)
|meijiman: Reading piece about big rise in the Baltic. should help the share price once the contracts are renewed post expiry.|
|petty officer birdseye: Statement re share price movement, Offer at £1.20 per share!!!
I just bought in at £1.40 which if the takeover goes through represents an outstanding bit of business on my part. True to form as always :D
Seriously, I hope GPRT and the BOD don't succumb to a low ball offer like this.|
|prop_joe: Thanks triktrak,
I saw the article at the weekend and while I thought it was positive. I didn't expect the share price to react like it has today. I wonder if there is anything else in the offing?
I can see the Baltic Dry Index is on the way up but again I wouldn't have expected it to translate into a 10%+ increase in the share price.
Mind you, I'm not complaining!|
|c1d: I did a back of the envelope liquidation value a couple of months ago and got to an estimate of around 45p per share. When shipping turns around (it is a cyclical industry after all) provided Goldenport is still around it should do well.
I don't think that anyone can predict when this will happen, but because I believe that Goldenport will survive to reap the rewards after years of pain, and if things don't work out as I expect and it goes out of business the breakup value should be higher than the current share price I am happy to hold. My timeframe is years rather than months BTW.|
|18bt: Reasonabl;e trading update. Quite an increase in contracted rates for the year, but little indication of the rate. Increasing protestations that the share price doesn't reflect the value, so further share buy backs.|
|18bt: Share price seems to be drifting down in absence of share buy backs|
|anusol: yep, they are certainly expanding this year! What sort of lifespan might they write that off over? Should add a very healthy margin to the I&E. Think everything is stacking up nicely for a steep share price increase over the next 12 months as these new vessels start working into the accounts.|
|slapdash: HOLD FOR A YEAR AND GET A DIVIDEND YIELD OF 12%!!!!
well ship mates.... final dividend about 4.2%.... and full year dividend about 6.1%...... but it I think future for the current year is much higher...
eps I think of 41.5pence...... but again forward figures should be much higher.. that is inline with forecasts.... key is the coming year when according to my forecasts they are supposed to generate 57penece and so the forward P/E is about 6.6X
coming year results are pretty much guaranteed due to lock ins... I am guessing current year will have a payout of about 50% as that is their policy so with predicted eps of 57pence dividend will be 28.5pence which gives a forward yield of 8%... so hold for jusut over a year and get 14% in dividends.... not bad...
Key going forward is sentiment and frieght rates which have been bouncing up recently and other shipping companies have had good share price performances.. if freight rates go to all time highs again this will fly... and they appear to have found a bottom and to be on the way up.. apparently global trade growing at 9% a year so demand massive.... i.e. increased imports of grains and things to China
this is more lowly rated that foreign shipping companies but then we don't have the same sector in the UK so difficult for investors to understand... however, it is the only fully listed shipping company I think in the UK -others on AIM - so may do well...
It is a tough call but with the high forward yield of 8% and the low P/E of 6.6X I think this is value as despite it being in a cyclical sector it has great forward visibility... i.e. in fact we pretty much know what 2008's results will be.... and 2009 should be increasingly locked in in the months ahead....
When I get some time I'll try and do some digging for info but I guess the fact that the float price was cut back from the nov indication of 275 - 325 helped it get away as well as this bullish mkt we're in now ?
Could the old M&A thinking be part of it ?
If it is as grossly overvalued as you suggest then the share price will surely catch up with it.|
Goldenport share price data is direct from the London Stock Exchange