Agree totally that Codan is currently undervalued. But I would also suggest that is also currently the case for many high quality stocks on the ASX. ANZ, for example, is trading on a PE of less than 10! To suggest Codan should be trading on a PE of 25 or even 20 I believe is overly optimistic. It has a history of volatile earnings and has exposure to the mining industry.
But back to the buyback, have you managed to talk to anyone at the company about this. I have previously phoned companies to ask whether they have considered a buyback and if not, why not? In the majority of cases I have received reasonable responses. Maybe we need to engage in some shareholder activism?
Ann: Chairman's and CEO's Address, page-18
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Last
$15.91 |
Change
0.020(0.13%) |
Mkt cap ! $2.785B | |||
| Open | High | Low | Value | Volume |
| $16.00 | $16.05 | $15.90 | $4.580M | 287.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1164 | $15.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.92 | 1922 | 2 |
View Market Depth
| Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
| CDA (ASX) Chart |
