Wednesday, January 11, 2012

Share Price Alert: Fletcher Building Ltd 5

1 year FBU Chart

Fletcher Building Ltd [FBU.NZX] shares are showing more weakness as the New Zealand economy limps on and the Christchurch earthquakes continue and hold up that city's rebuild (see FBU 1 year chart above) and they have gone below late Novermber 2011 levels since the last FBU Share Price Alert.

FBU shares have dropped by approximately 40% since a late April 2011 high of just a tick over $9.50 and even more interestingly are at close to lows of just over 5 bucks (see 4 year FBU chart below) reached at the height of the Global Financial Crises back in February 2009.

http://chart.bigcharts.com/custom/fairfax-com-nz/chart.asp?rnd=0.5678863549533573&style=2242&symb=FBU&size=1&type=64&time=4yr&freq=1dy&comp=&compidx=&ma=&maval=&lf=268435456&lf2=&lf3=&uf=16384&arrowdates=&arrowlegend=&country=NZ&sid=506033
 FBU 4 Year Chart
While the economy is uncertain the outlook for it is probably a little better than it was 3 years ago yet the share price has been given a beating in a overall market that has been flat in New Zealand.

I still think there will be further weakness in this share as the earthquakes continue to delay a rebuild but most of the bad news has already been factored into the share price and further falls would be the market overreacting to this delay.

Look for some good support at the $5.20 - $5.30 level for this now oversold stock. It is returning a near 7% gross dividend at these price levels and this is clearly an attractive income as well as a good capital gain play as the share price recovers with the first notice of a definite rebuild.

Go well Christchurch.

Disc I own FBU shares in the Share Investor Portfolio .


Share Price Alert Series

Auckland International Airport Ltd
Kathmandu Holdings Ltd 2
Mainfreight Ltd 3
Fletcher Building Ltd 4
Fletcher Building Ltd 3
Port of Tauranga Ltd 2
Contact Energy Ltd 5
Ecoya Ltd
Contact Energy Ltd 4
The Warehouse Group Ltd 2
Contact Energy Ltd 3
Contact Energy Ltd 2
Xero Ltd 2
Pumpkin Patch Ltd 4
Pumpkin Patch Ltd 3
Hallenstein Glasson Holdings Ltd
Telecom New Zealand Ltd 4
Telecom New Zealand Ltd 3
Port of Tauranga Ltd
Freightways Ltd 3
Goodman Fielder Ltd 2
Freightways Ltd 2
Telecom New Zealand Ltd 2
Ryman Healthcare Ltd
Charlies Group Ltd
Fletcher Building Ltd 2
Contact Energy Ltd
Steel & Tube Ltd
Telecom New Zealand Ltd
New Zealand Stock Exchange Ltd
Mainfreight Ltd 2
The Warehouse Group Ltd
Pumpkin Patch Ltd 2
Hallenstein Glasson Holdings Ltd 2
Fletcher Building Ltd
Restaurant Brands Ltd
Mainfreight Ltd
Tourism Holdings
Goodman Fielder Ltd
Pumpkin Patch Ltd
Hallenstein Glasson Holdings Ltd
NZ Refining Ltd
Freightways Ltd
Xero Ltd


Fletcher Building @ Share Investor

Share Price Alert: Fletcher Building Ltd 4
Share Price Alert: Fletcher Building Ltd 3
Share Price Alert: Fletcher Building Ltd 2
Fletcher Building: Crane Takeover Offer Well Timed
Fletcher Building Ltd: 2010 Full Year Profit Analysis
Fletcher Building: All eggs in one basket make for big risk
Long Term View: Fletcher Building Ltd
Hugh Fletcher: Silver spoon no recipe for success
Long VS Short: Fletcher Building Ltd
Fletcher Building's Commercial arm keeps their head above the tunnel
Sweetheart deal for Fletcher Building's Friends
Fletcher House built on hard times
Fletcher Building down tools in the short term
Why did you buy that stock? [Fletcher Building Ltd]
A solid foundation for the future
Fletcher Building raises profit through canny management
Fletcher's got game

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c Share Investor 2012



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