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If you sum the annual dividend it doesn't make up for the sp fall which is around 1/4 in the last year.
Not sure what sp would mark a theoretical floor. Maybe a PE of 1 meaning a sp of £4 or so.
Look back at my predictions on the likes of Vod and Sfor before you tell me I'm wrong.
I bought back today. Should I have? Well it has been on a downtrend since Feb 2007! Ups and downs along the way. Really low P/E and a modest dividend. Not sure what will drive any re-rating upwards. So answering my own question I think the answer is 'maybe'.
Constant slipping. Simply wall st says:
Trading at 60.3% below our estimate of its fair value
Earnings are forecast to grow 13.23% per year
Analysts in good agreement that stock price will rise by 69.7%
so we're ****ed then!
All the doom and gloom has proven correct. We are stuck with thin day trading like betting on the horses so it will no doubt drift lower. Can't imagine much changing in the next update given the global economy so I'm still predicting 6-10p.
..which it would if I topped up - absolutely certain of it - so sitting on my hands. The fear i have is it will settle for the medium-long term at around £2 and some excuse will be made to cut the dividend despite what's been said in the past.