Stock Name: Dyna-Mac
Company Name: DYNA-MAC HOLDINGS LTD.
AmFraser Research in a July 22 research report says: "Full-year revenue was $167.9 million against $218.5 million in 2010, a drop of 23.2%. PATMI was $24.8 million against $25.5 million last year. EPS fell from 3.56 cents per share in 2010 to 3.24cps. Gross margin rose from 23% to 30%.
"The order book was reported as $117 million, significantly higher than our previous estimate of $65 million. DM has declared a 2cps dividend for FY2011, translating into a yield of 3.6% based on the current price. This represents a payout ratio of 62%, which is somewhat high in our opinion.
"DM is trading at a P/E of 17.3x based on FY11 EPS of 3.2cps, and this P/E will rise to 18.4x given our EPS estimates. Fair value of 42 cents. MAINTAIN SELL."
Company Name: DYNA-MAC HOLDINGS LTD.
| Research House: AmFraser | Price Call: SELL | Target Price: 0.42 |
AmFraser Research in a July 22 research report says: "Full-year revenue was $167.9 million against $218.5 million in 2010, a drop of 23.2%. PATMI was $24.8 million against $25.5 million last year. EPS fell from 3.56 cents per share in 2010 to 3.24cps. Gross margin rose from 23% to 30%.
"The order book was reported as $117 million, significantly higher than our previous estimate of $65 million. DM has declared a 2cps dividend for FY2011, translating into a yield of 3.6% based on the current price. This represents a payout ratio of 62%, which is somewhat high in our opinion.
"DM is trading at a P/E of 17.3x based on FY11 EPS of 3.2cps, and this P/E will rise to 18.4x given our EPS estimates. Fair value of 42 cents. MAINTAIN SELL."
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