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Long time holder with CSN, very happy with constant growth and yet this crashed through my trailing stops. Any clues why this fell down??
The step up in profits to £40m+ in 2013 suggests a likely upgrade in sp. Only real question is, was 2103 an exceptionally good year, a bit of a "one off", or is that level of profitability likely to be sustained over the coming years, in which case sp has to move up significantly ? In other words, can this keep this up ?
The PE ratio is 14.32 at the moment which again isn't that attractive considering the insurance sector's average PE ratio is about 13 BUT of course that is all based on 2012 results. It seems as though EBIT will be roughly £43.7m (and that is not including Direct Line Life's contribution). This will mean EBIT would be 121% up on before and if EPS were to rise by as big a margin (to 54p) the PE ratio would drop to just 6.45. If CSN were then to re-rate to the industry average of 13 it would mean the company would be valued at roughly 702p a share which would mean this is an absurdly undervalued stock. I feel like I must have miscalculated / missed something here so please correct me if I'm wrong but, right now, I am hugely attracted to CSN due to the huge margin of safety I currently see!
Based on the 2012 year and a market cap of £400m, the EV/EBIT ratio is roughly 11.7. This isn’t too attractive BUT 2013 was clearly a turnaround year for the company from looking at the HY and Q3 results. The Q3 results showed that in the first 9 months of the financial year profit before tax was £32.8m. Assuming things remained constant for the remaining quarter of the year we can expect FY profits to be roughly £43.7m. Assuming everything stays constant in terms of the superb Cash to Liabilities ratio and Enterprise Value, the EV/EBIT is roughly 231m / 43.7m = 5.29 which is incredibly good! This doesn’t take account the Direct Line acquisition which I haven’t properly looked into but, even if it shoved the EV/EBIT up to 7 lets say, CHES looks a very undervalued company after the turnaround year they’ve just gone through.
Great share, great dividend...GLA :-D)
what is going on here with all these buys at 1 or 2 shares
Absolutely ! Actually with me it's not oilies (actually up on HOIL & RKH this year) but my addiction to small African mining companies which will lead me into poverty.
I agree---disastrous oil and gas shares--tell me about it---most of my PF in oilies even now Nick
My first post here, though I have held these beauties for many years. What can I say except to say thank heavens for shares like Chesnara which have consistently performed like a dream in comparsion to the disastrous mining and oil stocks which have caused me so much loss and grief and to ask why did I not put all my money in here. Best wishes to all who have discovered and stayed with Chesnara. Long may they continue to perform positively.
As far as I can see the net contribution from DL acquisition is pretty much included at ca £2.80 There is a chance that with a fair wind and a pinch of luck that this could creep to £3.11 by my calcs ... but depends how they manage the integration and what synergy savings can be flushed out along the way. This share is a solid income play IMHO.
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CSN&share=chesnara
DIRECT-LINE-INSURANCE-GRO-11706138/news/Direct-Line-Insurance-Group-PLC--Acquisition-17331115/
Good results and interim dividend increased by 2.5%.
Anyone know exintrim div date and value ?
Didn't expect to see SP back here this quickly ... jeez it moves fast when a bit of volume appears. Maybe answer to my previous question was 222-227p ... feck it !!
big trade?...
Typo .. sorry !
Any strong thoughts as to what price may fall to over coming weeks or months, i will be looking to load up again but would really welcome some Technical / Chartist advise before I place my next set of orders ? I got the last ex-divi drop wrong and missed the boat to some extent, still I am happy with my recent trade and booked some profit (Nobody ever got poor by taking profit). Am a supporter of this share so please dont think I am deramping... just asking for some opinions ? bottom will be found
Very happy the way the share price is holding up considering we now have a hefty dividend in the pot.
up nicely along with great dividend return....cant be bad !
Coming back in to land ... mind you, still blue and FTSE down.
This is moving in the right direction. Great divi and a good profit on my average. One of the favourites in my portfolio.
x2..buy.....
THIS SHARE
Steadily upwards. I have high hopes for this share in 2013, ..In for the long run for excellent dividend income but nice to see the sp rising at the same time. GL all in the coming year.