SGP.ASX delivered 7%+ EPS growth and reported profit of $890m, which was in line with market expectations. FY17 should deliver growth of 5 – 7%, placing the stock on a forward yield of 5.2%, based on $0.25 of dividends.
We’re cautious of the valuation and future earnings certainty in SGP and therefore, would prefer to look for an entry point at lower prices. Our algorithm engines will alert us, when and if a suitable buy point occurs.
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