Not sure about the $27/valuation but the point about the buy back is interesting.
On 4/10 they bought back 150,000 shares at a cost of $7m (rounded). At earnings of $1.40 share the remaining shareholders are receiving a return of $210k at a cost, funded by debt, of $7m or 3%. Subtract from this the cost of debt (must be US debt as Aussie debt would cost more than 3%) and to me you have at best a nil sum game. But you have more debt and more risk. Even if debt levels are ok (which I think they are for DMP) you still have less future capacity for capital in other areas.
Seems like a mistake to me in terms of capital allocation.
Not sure about the $27/valuation but the point about the buy...
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Last
$33.15 |
Change
0.460(1.41%) |
Mkt cap ! $2.865B | |||
| Open | High | Low | Value | Volume |
| $32.85 | $33.53 | $32.80 | $12.31M | 370.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 871 | $33.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.15 | 451 | 2 |
View Market Depth
| Last trade - 16.10pm 03/12/2024 (20 minute delay) ? |
| DMP (ASX) Chart |
