Wednesday, September 20, 2017

NSI valuation after 8 to 1 reverse split

February 2017

The company is shifting strategy to office spaces.

EPS 0,33 Euro x 15 = 4,95 Euros x 8 = 39,60 Euros

Book Value is 4,25 Euro x 8 = 34 Euros

Graham Number is Square Root ( 4,95 x 1,5 x 4,25) = 5,6 Euro Graham Number x 8 = 44,8 Euros

Stock Price = 3,78 Euros x 8 = 30,24 Euros

Seems cheap. Dividend is 0,27/3,8 = 7% Pretty Good

0,27 Euros dividend x 8 = 2,16 Euros

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September 2017

EPS 2017 expectation = 2,55 Euros x 15 multiple = 38,25 Euros

Earnings Yield = 2,55 Euros Earnings per share / 32,7 Euros price = 8%

Book value is 35 Euros.

Graham Number = Square root (35 x 1,5 x 38,25) = 44,81 Euros

Expected return of 5-10% per year.

http://nsi.nl/

See www.beterinbeleggen.nl for great companies.

Comments, questions or E-mails welcome: ajbrenninkmeijer@gmail.com

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