They have chance to buy their own highly profitable (PE=3) business for pennies on dollars (25% of book value)
This is once in a 25 years opportunity. I hope they are not that dumb.
Otherwise it will be just 1-2 days wonder and languish like it has been for years.
Even if correction today, management can start to buyback shares again after Blackout period + dividend will be announced soon. Two positives.
Fewer shares, increased shareholder value, less in dividend expenses, and company still growing in China, and U.S.
Sentiment: Strong Buy
A pumper on the bottom is called rich and a basher at the bottom stupid.
Clearly you didn't listen to the call or cant read.
The government wants these real estate companies to do well so they can get revenue though taxes. They are the wind in their sails and they are now blowing hard with low rates and give always to 1st time buyers. The last quarter was great and the smart people are buying instead of typing and bringing up excused for being left behind. This stock historical rallies hard and should be at a higher PPS. Strong buy.
Actually, with the average P/E in the U.S. being 20-30, it would make XIN around $15.00. After Q1 earnings, it would increase a bit, so my "wish" of $30.00 may be too high, but your 8-10 is way too small.
XIN $5.00+ by years end, $10.00 by end of 2016.
Sentiment: Strong Buy
I believe the CFO was clear that $1 B in land purchases was very tentative....subject to 2015 market conditions. Also there was much talk about "equity co-operation", at least at the project level...and it would not surprise me to see some kind of equity deal similar to the TPG one.
As for 18 months for projects to be sold out and delivered after pre-sales begin.....that might be true in "normal" times....but XIN's contract sales have been poor for almost a year now, so some projects may get delivered before they are sold out.
On earlier conference call, the Brooklyn Oosten project came up... management was practically salivating at the mouth at how strong sales were... one of the hottest markets in the world... etc... just another great little boost to XIN's earnings.
No it ain't shabby, but I was getting greedy as I was figuring it on a price per square foot, which would have put it $375-$400M depending on the actual salable square footage. Maybe there will be more lofts and fewer regular units. I guy can only hope!
BTW you I fear you were correct on a previous post when you indicated that any dividends would be paid with borrowed funds.
I don't believe that it is financially viable to have $1B in land purchases and only $1.8B in cash sales. There would be approximately .1B of sales tax reducing the total sales to $1.7, less land leaves .7B. The conference call stated that construction costs would be a little lower than land purchases, lets say .9B so now XIN is (.2)B. S,G&A was .144B in 2014, this will increase to lets say .2B, XIN is operating cash short .4B before interest, dividends and stock repurchases. In their investor presentation it was stated that a project is scheduled to be delivered and sold out 18 months after pre-sale begins. Based on the projects that started in 2014 the contract sales should be closer to $3. JMHO
Bean, why are you disappointed? We figured it would be 100M and your estimate is 10M more if that's the
way it plays out. That ain't shabby.
Three more units went into contract today bringing the total to 79 numbered units and 8 lettered units for a total 87 units.
My projected gross sales
4 penthouse @ 6.5M for $26M
15 lofts @ 3.5M for $53M
21? duplex @ 2.6M for $55M
8? Lofts @ 3.5M for $28M
79 Reg. Units Sold for $90M
89 Reg unsold @ 1.2M for $108M
216 Total Units for $360M
I was hoping for more, but based on the floorplans filed this is my best guess. JMHO GLTA
Zacks Investment Research upgraded II-VI Inc. (IIVI) to a Zacks Rank #1 (Strong Buy) on Feb 17, 2015. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of performing better than the broader market.
Stock Symbol is IIVI I had to check it out for myself, it's had a recent break out and now a bullish coiling pattern. Resistance @ 17.84 Target of 19 & 20. Something to keep on a watch list.