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Gafisa S.A. Message Board

  • aco_brasil0192 aco_brasil0192 Dec 7, 2012 7:44 AM Flag

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    1. From Reuters: "Shares of Gafisa SA rose 3.15 percent, also reflecting a price-target upgrade by Bank of America Merill Lynch to 5.75 reais."

    2. This is what passes for analysis nowadays. To summarize, Gafisa is a value trap because its PPS has lagged the US Homebuilder sector, it has debt, and because the BVSPA performed badly in 2012. HAHAHA.

    From NASDAQ:

    "Gafisa (NYSE: GFA ) The Brazilian homebuilder is up nine percent year-to-date, but here is one clue that it is a value trap relative to U.S. equivalents: The iShares Dow Jones US Home ConstructionFund (NYSE: ITB ) has surged nearly 68 percent.

    Gafisa trades for less than 13 times next year's earnings and with a price-to-book ratio of just 0.75, but there value trap indicators. Namely a long-term debt-to-equity ratio of 0.96. If that is not enough to convince some investors to shy away from this sub-$4.50 name, perhaps another factor will do the trick.

    Brazilian equities look cheap relative to the broader emerging markets universe, but the alleged value has not translated to decent returns this year. Amid slowing growth and a challenging political environment, Brazilian stocks have been the worst performers in the BRIC quartet in 2012."

 
GFA
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