Am I missing something gents?

[f4jsa]

Esor's historic half year earnings were: 28c/23c (2008); 61c/20c (2009); 41c/30c (2010) and the staggering 4c/??? (2011). At a peer-related PE of 5, Esor will have to show earnings of 36c in the new half year results. With no new mega-projects or not even so mega-projects from either the state or private sectors, where is this 36c/share going to come from????? Is it not more likely they earn around 10c/share (mainly due to cost-cuttings) which will make HEPS 14c and PE 5 will make share price 70c. Or for how long are we going to cling to hope instead of letting our money ride the commodity and soon to be banking cycles??

[Jellyram]

Hang in there and be patient!! Endurance is the name of the game.

[f4jsa]

Endured too much pain with this one. Luckily got out around R4. Looking to get back in. But for the life of me cannot understand why the price does not drop to below R1 where it should be based on actual earnings. Or has everyone suffered so much that they are forced to hold for when it eventually recovers in about 3. A lot of profits can be made elsewhere in that time.

[#4]

There is a big difference between Group5, who needs to feed a R30bn machine to keep its margins, vs ESR, who need to feed what R5bn? Still, I think you might be carrying a bit of bias towards this stock, it is probably the least impressive of the construction stocks right now, they have not managed to keep their debts in check, IMO, which is a critical component in construction. BSR, Stef Stock, WBHO are much better options