G8 Education Remains Undervalued as Full-Year Result Defies the Critics
We maintain our fair value estimate for G8 Education at AUD 4.50 per share following a good fiscal 2016 financial result. At the current market price of AUD 3.69, we still believe the shares are undervalued and expect the price/fair value discount to narrow as the market gains comfort with the stability of earnings. The shares trade on an attractive fiscal 2017 dividend yield of 5.7%, or 8.1% including franking credits, with dividends paid quarterly. The price/earnings ratio of 13.6 is below the...G8 Education is engaged in the operation of early education centres owned by Co., and ownership of early education centre franchises. Co. operates in Australia and Singapore.
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