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Can you tell me what you think of Greencross (GXL)?
They look OK, but have fallen 8% since I bought them. They paid a 7c dividend in late September and haven’t recovered.
I suspect people have just sold out in the current downturn because they have made their money and want to cash in. So my question is are they likely to recover, or will they continue to languish?
I am finding it a difficult call because I can’t see anything wrong with the company and it looks to have a good future.
A: Thanks for the question about Greencross (GXL).
I don’t think there is anything wrong with the company – looks like the market got a little carried away and there has been some profit taking.
Greencross has recently reconfirmed its earnings guidance for FY 15 of 36c per share. At its current price around $7.80, this is still a fairly heady multiple of 21.7. At $10.00, it was trading on a multiple of 27.8!
