Post Reply
61-70 of 70
No dividend proposed.......guess it further doom this company stock price....
New 52 wk lows, might consider buying a little when it goes below $0.60. I think the Binder acquisition will hit MTQ very badly for the next few quarters, remember they paid a lot of money for Binder when oil/gas prices were very high, now Binder is likely worth much less (thus the goodwill write down), or perhaps even nothing since its going to be hard for Binder to generate a profit in this environment.
Kolsey ( Date: 19-Mar-2015 14:53) Posted:
|
Down to 82 Cents, hit new lows. unloved
OSKDMG maintains Buy and raises TP to $2.67. Note that MTQ will be acquiring 100% of Binder Group Pty Ltd, a private Australian company providing pipe support and pipe suspension solutions to the oil & gas sector, for AU$19.3m cash. Housee estimate the forward purchase P/E at around 4x. Following the purchase, raise FY14F/15F estimates by 3/10%, with TP accordingly rising to $2.67, based on a 10x blended FY14/15F P/E. Binder is a private Australian company specializing in custom-built pipe support and pipe suspension solutions utilized in LNG pipeline related works. It has a 50% stake in an Indonesian manufacturing facility. Its book value is AU$6.2m while FYE Jun13 profits stood at AU$1.9m. The group already recorded AUD1.8m of profits in the four months ended Oct 2013. The acquisition will allow MTQ to expand its oilfield engineering business to a larger customer base, while the 50% Indonesian stake will give it a foothold in the growing Indonesian market. We also see shareholder value creation via this attractively-priced purchase, with a direct boost to EPS growth in the near term.
wil it up further?
jst hope tis one hve gd result n bonus issue.for so many year,tis counter only 100mil shares.
up 6.5 cts 349 lots done....no correction at all...
tis share stil moving up 2 cts
shoot up with low volume.