Supermax: my revised target price

Supermax: my revised target price 

In my previous calculation for my target price I did not take into consideration of the 1 bonus share for every 1 share held by shareholders.  

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Comfort recently announced its EPS of 7.17 sen in its 2nd quarter ending July. Its performance was Q on Q 162% and Y on Y 501%. 

Rubberex’s EPS 8.69 in its 2nd quarter ending June. Its performance was Q on Q 148% and Y on Y 858%.  

Top Glove’ EPS 13.59 in its 3rd quarter ending May. Its performance was Q on Q 200% and Y on Y 366%. 

Supermax’s EPS 30.58 sen in its 4th quarter ending June. Its performance was Q on Q 462% and Y on Y 2,552%. 

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This comparison shows that Supermax has the best profit growth rate. Supermax has its own brand and sale outlets in many major US cities and in several other major cities around the world. It can easily increase its selling price.  

3rd quarter ending March EPS 5.42 sen

4th quarter ending June EPS 30.58 sen 

1st quarter ending Sept EPS 40 sen (assumed)

2nd quarter ending Dec EPS 50 sen (assumed)

Total profit for the year EPS 126 sen 

Total profit for the year after 1 bonus share for 1 share held by shareholders is 63 sen  

Target price based on PE 25 is Rm 15.75 

I believe my basic assumptions are quite conservative and my immediate target price of Rm 15.75 is achievable within 6 months. Yesterday the closing price was Rm 7.50 

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