watfordI don't think TIM sp dependents on TIMPB price (illiquid...

watford

I don't think TIM sp dependents on TIMPB price (illiquid stock).
As you know TIMPB is only a small part of TIM's issued securities. The overall - TIM price depends on its fundamentals, current performance and forecasting revenue.

(TIMPB) TIMBERCORP LIMITED
6.75% NON-CUMULATIVE RESET PREFERENCE
06 Apr 2009 16:15 Delayed | Live Quote
Last Price +/- % Open High Volume
$0.3700 $0.0000 0.0% 0.3700 0.3700 62,636
Bid Ask # Bid # Ask Low Value
0.3600 0.3800 N/A N/A 0.3600 23,127

Shares Issued 34,743,527 Market Capitalisation 12,855,105
Security Type Conv. Preference (21) Security Group: Equities
52 Week High 1.6600 52 Week Low 0.2500
Industry Group: Materials (15) Industry Sub-Group: Materials (1510)
First Listed: 01 Oct 2004 First Traded: 24 Sep 2004
Issuer Type: Industrial(I) Net Tangible Assets: N/A

It seems TIMPB's lowest price was 25c and today is 37c (48% up), whereas TIM's lowest price was 9c and today is 11c (only 24% up)

I think, the investor should look at:
Income & Efficiency
Latest F'cast
Div Yield 13.6% 38.1%
Div Cover 8.7 1.5
Op Mrgn 29.2% 4.3%
ROCE 4.7%

Valuation
Latest F'cast
P/E 0.8 3.8
PEG n/a n/a
Pr/Revenue 0.1 0.1
Pr/Book 0.1
Growth

TIM Fundamentals
Year Ending Revenue (A$m) Pre-tax (A$m) EPS P/E PEG EPS Grth. Div Yield

30-Sep-08 494.43 59.78 13.09¢ 4.7 n/a -42% 1.50¢ 2.4%
TIM Forecasts
Year Ending Revenue (A$m) Pre-tax (A$m) EPS P/E PEG EPS Grth. Div Yield
30-Sep-09: 434.35 18.53 2.93¢ 3.8 n/a -78% 2.00¢ 38.1% (that's why TIM price plunged from over $1 to 11c)
30-Sep-10: 484.03 43.12 5.96¢ 1.8 0.0 +103% 3.50¢ 50.0% (future looks good)

DYOR

Cheers NJ