Navitas Share Price Retracement Insufficient to Recommend Buying Just Yet
Navitas shares offer better value following the 18% fall since July but we don't believe the current market price, of AUD 4.91, offers a sufficient margin of safety relative to our AUD 4.80 fair value estimate to add to holdings just yet. The fiscal 2017 P/E ratio of 21 is above the S&P/ASX 200 Index, at 17, indicating the market expects Navitas' earnings to grow more quickly than the "average" listed company. However, we forecast EPS to fall by 2.8% in fiscal 2017, following a 2% fall in fi...Navitas provides educational services to domestic and overseas students. Co.'s segments are: University Partnerships, which delivers education programs, via pathway colleges and managed campuses, to students requiring a university education; SAE Institute, which delivers education programs in creative media including courses in audio, film and multimedia; and Professional and English Programs, which delivers English language tuition, jobs skills training and higher and vocational education in health, security and psychology, and is comprised of four business units: English and Foundation Skills, Careers and Learning Skills, Navitas Professional Institute, and Training and Development.
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