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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » SFL N, SFL P , HOT HOTTER, HOTTEST ON.......!

SFL N, SFL P , HOT HOTTER, HOTTEST ON.......!

+7
Joe007
Chinwi
C S E 2015
tharindufit
EquityChamp
charith666lk
wisdom79
11 posters

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charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:visionstar ,
PE ratio for SFL P is still at 14.6 times
annual eps = 2.23
current price=12.30
P/E = 512.3/2.23= 5.5

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

charith666lk,
that is wrong.
if you have mathematical knowledge  calculate.

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:charith666lk,
that is wrong.
if you have mathematical knowledge  calculate.
If you can please show me the calculation friend

Harry82


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

charith666lk,


Six month EPS = 55,263,441/62,958,930
 0.8777



AEPS = 0.87 x 2
             1.76
Current PER is over 12 times

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:charith666lk,


Six month EPS = 55,263,441/62,958,930
 0.8777



AEPS = 0.87 x 2
             1.76
Current PER is over 12 times
for sfl.n PER=20.50/1.76= 11.6
for sfl.p  PER = 12.3/1.76= 6.9

Dear friend,If we calculate like this is it correct?

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Dont speak SFL P

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Dont speak SFL P

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:Dont speak SFL P
that's mean we can't calculate like that for preference shares??

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

yes

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Harry82 wrote:yes
thanx. how can we valuate a preference share? should we compare it with the  normal share?

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics

You have to find out what kind of P share they have.

Here SFL P share has preference in getting dividend ONLY if they declare it for N share.

Some other companies have P share that get pre agreed dividend per year even they do not give any dividend in  that year for N share and if they failed to pay it the P shareholders have the right to claim it next year. As SFL-P are 'non-cumulative' they do not get missed dividend in next year. They are non voting thus do not have voting power.  When they do not have voting rights trading price is adjusted. Because, in a bid for takeover they do not get any value.

If SFL pay dividend, SFL P gets 10 cents more than for N share.
Here I see some mismatch.
Before splitting,  P got 10 cents more dividend than N.
They did not tell (a f a I know) any changes in that rule when splitting. If new P also get 10 cent more than N that an unexpected bargain for P holders. BUT as they have become non dividend payers since 2012 , I think this is not that worth to consider when valuing P share.

Somehow, as P also get Dividend I like to include  them in EPS calculations.
If so the total number of shares is (N + P)  = 69,666,040.

last 3 months EPS =0.50  annualize 2.00
last 6 month EPS 0.79 annualize 1.58

SLF can become a good stock to invest. We have to wait and see its future hading. Unfortunately some people raped it here before puberty.

charith666lk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Chinwi wrote:You have to find out what kind of P share they have.

Here SFL P share has preference in getting dividend ONLY if they declare it for N share.

Some other companies have P share that get pre agreed dividend per year even they do not give any dividend in  that year for N share and if they failed to pay it the P shareholders have the right to claim it next year. As SFL-P are 'non-cumulative' they do not get missed dividend in next year. They are non voting thus do not have voting power.  When they do not have voting rights trading price is adjusted. Because, in a bid for takeover they do not get any value.

If SFL pay dividend, SFL P gets 10 cents more than for N share.
Here I see some mismatch.
Before splitting,  P got 10 cents more dividend than N.
They did not tell (a f a I know) any changes in that rule when splitting. If new P also get 10 cent more than N that an unexpected bargain for P holders. BUT as they have become non dividend payers since 2012 , I think this is not that worth to consider when valuing P share.

Somehow, as P also get   Dividend I like to include  them in EPS calculations.
If so the total number of shares is (N + P)  = 69,666,040.

last 3 months EPS =0.50  annualize 2.00
last 6 month EPS 0.79 annualize 1.58

SLF can become a good stock to invest. We have to wait and see its future hading. Unfortunately some people raped it here before puberty.
thank you very much sir.

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