Reported 3Q11 EPS of 13.4 sen and estimate to deliver better result due to upcoming festive seasons with target EPS of 14 sen for 4Q11. ( EPS for FY2011 approximately 50 sen ).
AEONCR currently trading at PE 7.5X based on share price RM3.70. However, I think AEONCR should enjoy higher PER as the company business is continue to grow at healthy pace.
PE 8X - RM4.00
PE 9X - RM4.50
PE 10x - RM5.00
Dividend announced in Sept 2010 =11.5 sen
Based on 50% dividend payout ratio, coming April 2011 may announce another 13.5 sen.
Full year DY = 0.24 / 3.70 = 6.5%.
Again, if AEONCR wish to enlarge its share capital by issuing bonus, the share price may move to RM4.30-RM4.50 or even higher.
Accumulate at this level.
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