Logo
Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome to ShareScene - Talk Shares And Take Stock With Australia's Sharemarket Community - New Here? Click To Register >

Important Notice For All Members - ShareScene Is Moving

  
 
  
Reply to this topic

RNS, RENAISSANCE CORPORATION LIMITED
rosskend
post Posted: Sep 21 2010, 10:18 AM
  Quote Post


Posts: 1,887
Thanks: 49


Hi RNSers - has been moing along well of late. Has come back a bit since the last surge but seems to be forming support at .25 A LT investment but very promising IMHO.

R/Ross

 
ShareScene.com
post Posted: Feb 3 2009, 10:00 AM
  Quote Post



Posts: 4,289
Thanks: 206


Company:
RENAISSANCE CORPORATION LIMITED

Code:
RNS

Website
http://www.renaissance.co.nz/


 
Lizard
post Posted: Nov 15 2008, 06:33 AM
  Quote Post


Posts: 911
Thanks: 53


Not surprisingly, RNS have announced that the slowdown is hitting them hard. Haven't had a close look, but suspect the forecast means they make minimal or no profit in second half. Hard to see any bright spots on the horizon for RNS at the moment.

 
Lizard
post Posted: Jul 29 2008, 01:56 PM
  Quote Post


Posts: 911
Thanks: 53


A good little result from RNS, with half year NPAT up, shareholders equity increased, debt reduced and 3cps dividend on track with the 6cps for the year indicated by the company. At 52cps, forward P/E is now 6.4 and indicative yield 11.5% plus franking. EV/EBIT looks to be a low 4.8.

Good value, but still need to work through the last of the change in Apple distribution model as well as outrun the economic slowdown.

 
Lizard
post Posted: Apr 25 2008, 08:16 PM
  Quote Post


Posts: 911
Thanks: 53


After my last post which saw value at 59cps, RNS fell off the cliff to a low of around 45cps. However, last week seemed to signal some strong support from directors buying, with the share price making a good recovery back to 58cps. Could be a case for "accumulate on dips" though I think there is plenty of time for that.

 
Lizard
post Posted: Mar 14 2008, 08:22 PM
  Quote Post


Posts: 911
Thanks: 53


RNS reported a FY result of $5.1m NPBT (slightly ahead of the HY forecast of $4.5-$5m), or $3.3m NPAT. A 3cps dividend was declared and the company stated the intention to pay a total of 6cps in the coming year.

Looking ahead, it is a case of swings and roundabouts for RNS. On the one hand, both Magnum Mac and Natcoll contributed for only 6 months to this result and an annualising of the second half would suggest NPAT of $4.2m. However, the wind back in sales and margins on the Apple business probably strips out a significant portion in 2008 - I'm estimating around $1.0m - perhaps off-set by improvements in stock availability. Realistically then, it is hard at this point to see a FY08 result as more than a borderline case for forecasting a profit increase. The expensing of $1m on txttunes launch this year may not be repeated and would make a significant difference, but more likely there will be other ventures to expense.

Taking the optimistic view (i.e. a small profit increase in 2008 as previously indicated by directors - say $3.45m), then it is possible to make a case for investing in RNS. At 59cps, a P/E of 7.6, a forward P/E of 7.3 and dividend yield above 10% plus imputation. ROE probably around 26%. However, the capacity for acquisition is now lessened and earlier indications were of further downside to Apple business in 2009. Two years of sluggish growth is not going to draw the crowds in yet.

Still one to watch though - they've been known to surprise in the past and it will be interesting to see what patterns develop in the segmental data they are now providing.

 


Lizard
post Posted: Jan 31 2008, 11:10 AM
  Quote Post


Posts: 911
Thanks: 53


At last there is some real clarity coming in RNS reporting. This could be crucial for providing some support to the share price IF it demonstrates real value in the non-distribution businesses.

RNS should at least be in a position to find a base, with RNS projections suggesting 2007 could be the low point for earnings for a while. Although with the impact of Apple income reduction expected to drag on into 2009, there doesn't seem to be spectacular growth in the near term either. Plus the spectre of weaker consumer markets must haunt consumer discretionary items such as iPods. And the surplus cash has now been re-invested to buy new income streams, so further growth by acquisition is less likely for a year or two.

P/E for 2007 looks to be around 7.5 though and annual div should work out around 5.5cps from indication, so yield of 9.1% plus imputation. If investors can be convinced that earnings will rise from here, then this seems worth having on watch as a possible buy.

 
 



Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING