Full year results, page-7

I'm not sure if anyone is aware but, Codan has updated their 2016 broker forecast. This is Codan's unofficial way of giving guidance...with-out giving guidance.

Why this is important is if there is a 10% change Codan MUST announce to the market.
Ok...what are the numbers?

The 2 brokers have NPAT of 15.1M and 16.4M for 2016.
I'm not sure if it's the range or the average of the 2. The range would be...13.6M to 18M or 10% increase to a 44% on 2016 earnings.

A 10% plus or minus on the avg. if the two is 14.2M and 17.3M respectfully. Earning up +14% to as high as +39%

So Codan's management 12 month crystal ball is saying things are going to be positive. The average I take from all those numbers is a 27% increase in NPAT.

So that gives a EPS of .089 cents.

That gives Codan a current PE on a 12 months forecast of 10.5.

So the company just grew 35% and is probably going to grow atleast 25%+ and they get stuck with a PE of 10?

Total madness...the market will figure this out. New investors will come on board and a conservative PE of just 20 put's this stock at $1.78.

(I beliece the PE should get to 25-30 at some point...give the stock a $2.25 to 2.67. If the brokers hear anything better the stock should get over $3 then)

Based on what they did in their last report, I'd expect them to pay debt down by 20M leaving them hardly any debt left or 15M. Lots of room to knock the dividend up another 30%-40%+
It's just a wait for the market to jump on. Again...with the low volume it could jump up there very fast too.