2 Stocks Looking Attractive

  • Oct 16, 2018 AEDT
  • Team Kalkine
2 Stocks Looking Attractive

Among the falling market couple of stocks that are attractive based on their fundamentals are doing well and are seen in green over the past few months, are mentioned below:

Kina Securities Limited (ASX: KSL) – A financial service provider in PNG, Kina is a diversified group which has two operating divisions, Kina Wealth Management and Kina Bank. The stock still trades at a material discount to its IPO price, the expectations are from KSL to produce a record profit in 2018. A dividend yield of 8.4% is forecasted for 2018 and 10.8% for 2019 respectively. Adding significant inherent value is the recent ANZ PNG acquisition. The deal is 25-35% accretive post cost synergies, while KSL has paid only goodwill. Delivering 20% loan growth, KSL's underlying business metrics continue to track solidly, backed by a strong capital position credit quality has been improving which is well above the regulatory minimum of 12% and approx. 17% pro-forma.

As at the end of financial year June 2018, cash and cash equivalents at the end of the period was of $140.575 million with no debt representing a healthy balance sheet. Kina security was trading at a market price of $1.095 which mispriced by the market as at October 16, 2018 which is near its 52-week high, and over the last twelve months period it has witnessed a performance change of 38.85%. The P/E of the stock is 10.890 and the EPS is 0.100 AUD making the stock attractive among its peers. 

Noni B Limited (ASX: NBL) – NBL now commands a material portion of the womenswear market approx. A$1bn of sales. The expectations are that this initial phase of cost out see meaningful upside to management's cost-out targets over time and will be largely complete by 1H19-end. The company’s underlying EBITDA increased to $37.2m by 62.7% from the prior year. On the back of group’s total revenue which increased to $372.4m i.e. by 17.6%. Final dividend of 4.0 cents per share declared which was fully franked. The underlying pre-tax profit increased to $25.1m by 324.9% and the earnings per share (EPS) increased to 21.3 cents which is up by 363%. At an easy valuation of 9.7x FY20F a c25% discount to peer basket, NBL trades on ASX.

The cash balance as at end of financial year July 1, 2018, was of $58.7 million, with total bank debt of $20.8 million. NBL is currently trading at a market price of $3.500 as at October 16, 2018 which is not very far from its 52-week high, and over the last twelve months period it has witnessed a performance change of 78.45%. The P/E of the stock is 16.710 which compares well among the peer group.

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