Bell Potter institutional research has EPS of 20c for FY13. No estimates for FY14.
I am a little more optimistic. My own estimates are for 21.5 - 22.0cps in FY13. That assumes a continuation of last years organic growth rate plus the EPS accretion affect of the Ward acquisition.
Given a large portion of revenue is based on long term contracts in time the market may re-rate the PE to reflect the defensive nature of earnings.
My assumption (assuming the company can continue to perform) is in 12 months the market may value the stock at 15x historical earnings. So a 12 month potential share price of $3.20 plus around 10-11c of FF dividends along the way.
great acquisiting, page-20
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