Fletcher Building Ltd [FBU.NZX] has taken a considerable dive since its previous share price alert in mid October. At that time the share price was trading at $6.92c.
At closing of the bell today the share price finished trading at $5.92c, just under a 15% drop in share price.
This is primarily due to delays in the start date to the Christchurch rebuild but also pressure from slowing homebuilds in New Zealand, Australia and the potential for impacts from their busineses in Asia and North America as housing starts in the US have lowered demand for its laminates business there and the slowing Chinese economy looking to impact on the Asian region as a whole and the rest of the world during 2012 and beyond.
Look for sub 5 bucks early in 2012 and sub 4 bucks if the Christchurch rebuild is delayed past the previous mid 2012 start date and the above mentioned impacts from the various parts of FBUs business weigh heavy on market sentiment for the company and of course an impact on the bottomline.Fundamentals
| P/E | 13.140 |
|---|---|
| EPS | $0.451 |
| NTA | $2.709 |
| Gross Div Yield | 6.680% |
The numbers are currently looking good with a low P/E ratio and a good yield of close to 7% gross.
As always be patient on this and you could probably park this for a few months and watch closely for your entry point.
Disc I own FBU shares in the Share Investor Portfolio
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From Fishpond.co.nz
Buy Every Bastard Says No - The 42 Below Story, by Geoff Ross & Justine Troy & more @ Fishpond.co.nz
c Share Investor 2011
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