BBI 0.00% $3.98 babcock & brown infrastructure group

heres a report

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    10 November, 2008 (16:00:00 AEST)

    BABCOCK & BROWN INFRASTRUCTURE GROUP HITS YEAR-LOW 15TH TIME IN THREE MONTHS November 10, 2008 16:00:00 AEST

    Babcock & Brown Infrastructure Group (BBI.AU), Australia's twenty-seventh largest Industrials company by market capitalisation, hit a 52-week low of 7.50c during the day. In the last three months the stock has hit a new 52-week low fifteen times, pointing to a significant downtrend. The stock fell for a fourth consecutive day on Monday bringing its four-day fall to 17.80c or 69.8%. The share price crashed 5.30c (or 40.8%) to 7.70c. Compared with the All Ordinaries Index which rose 53.4 points (or 1.3%) on the day, this represented a relative price change of -42.1%.

    TECHNICAL ANALYSIS
    Significant Downtrend
    Price Volume Trend: The price crashed 69.8% in the last week and 69.8% in the last month. This has been exacerbated by robust volume of 2.5 times average for the week and was on volume of 1.1 times average for month. In the last three months the number of falls outnumbered rises 44:20 or 2.2:1.
    Moving Average Price (MAP): The stock is trading below both its MAPs and the 50-day MAP of 28.42c is lower than the 200-day MAP of 82.80c, a bearish indicator. The 200-day MAP has decreased to 82.80c. A decrease is another bearish indicator.
    Spotting the Top or Distribution: The price was down on higher volume today. There have been six such events of Distribution in the last three weeks. Combined with the fact that today's close of 7.70c was lower than today's mid-bounce price [average of price high and price low] of 10.2 is a bearish signal.
    Support: The support price is hovering at the 7.50c level. Volume traded at the support price zone was 5.2 time average during the single occasion when the support price was breached. In the last one month the first low was at 7.50c on Nov 10.
    Resistance: In the last one month the high was at 28.0c on Oct 14.

    PRICE VOLUME DYNAMICS
    Volatility: The stock traded between an intraday low of 7.50c and a high of 13.0c. This suggests a trading opportunity between peaks and troughs.
    Moving Average Price (MAP): The price to 200-day MAP ratio is 0.09, a bearish indicator.
    Volume: There were 67,922,457 shares worth $7 million traded. The volume was 5.2 times average trading of 12,942,806 shares.
    % Premium to Low: The last price is at a premium of 2.7% to the 12-month low of 7.50c.

    OPEN INTEREST TREND AND INTERPRETATION
    Same day trend: Open Interest fell for a third day; the stock fell for a fourth consecutive day. Open Interest dropped 4.6% from 3,695 to 3,524. Combined with the price falling 40.8% this suggests the market is strengthening.
    Trailing one week trend: Open Interest crashed 11.8% from 3,997 a week ago while the stock crashed 69.8% from 21.50c a week ago. Combined with the falling price this also suggests the market is strengthening.
    Trailing one month trend: Open Interest crashed 11.8% from 3,997 a month ago while the stock crashed 69.8% from 20.50c a month ago. Combined with the falling price this also suggests the market is strengthening.
    Open Interest as % of issued capital: 3,524,000 shares, representing 0.2% of the issued capital.
    [ranked 77 out of 108 stocks in descending order]
    Put:Call Ratio: Open Interest contracts on exchange traded options included 1,600 put contracts and 1,924 call contracts.
    The put:call ratio was 1:1.2 up 11.5% for the day; up 30.5% in the past week and up 30.5% in the past month.


    PRICE PERFORMANCE RANK IN INDICES AND SECTORS
    The stock is in 8 indices and 5 sectors.
    The stock's fall of 40.8% went against the trend set by the following index and sectors (rank by percentage price change of stock for 1 day;6 months in sector/index in brackets):
    Total Australian Market (rank 1153;1153 out of 1830) which was up 118.0 points or 2.7% to 4,480.4,
    Industrials Sector (rank 597;596 out of 905) which was up 97.8 points or 2.4% to 4,191.0,
    All Ordinaries Index (rank 358;357 out of 386) which was up 53.4 points or 1.3% to 4,060.

    RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTAL ANALYSIS
    Bullish Signals:
    - Price/Earnings of 2.3 versus sector average of 193.6 and market average of 151.0.
    - The earnings yield of 43.64% exceeds 10-year bond yield of 5.095%.
    - The Price to Book of 0.3 lower than average of 27.0 for the Total Australian Market.
    Bearish Signals:
    - Total Revenues of $177 million versus sector average of $813 billion (ranked #236 in sector) and market average of $1,242 billion (ranked #333 in market).
    - Return on Equity of -1.7% versus sector average of 19.5 and market average of 22.4.
    - Return on Assets of -0.3% versus sector average of 6.2 and market average of 8.9.

    RELATIVE VALUATION INDICATORS [RVI] TECHNICAL ANALYSIS
    Bearish Signals:
    - The price crashed 69.8% in the last week and 69.8% in the last month.
    - This has been exacerbated by robust volume of 2.5 times average for the week and was on volume of 1.1 times average for month.
    - The stock is trading below both its MAPs and the 50-day MAP of 28.42c is lower than the 200-day MAP of 82.80c.
    - The 200-day MAP has decreased to 82.80c.
    - In the last three months the stock has hit a new 52-week low fifteen times, pointing to a significant downtrend.

    SHAREHOLDER RETURNS
    Trailing One Week: The stock fell four times (80% of the time) and rose once (20% of the time). The volume was 2.5 times average trading of 64,714,030 shares. The value of $1,000 invested a week ago is $459 [vs $974 for the All Ordinaries Index], including a capital loss of $595 and dividend reinvested of $53.
    Trailing One Month: The stock fell fourteen times (67% of the time) and rose seven times (33% of the time). The volume was 1.1 times average trading of 284,741,732 shares. The value of $1,000 invested a month ago is $342 [vs $1,033 for the All Ordinaries Index], including a capital loss of $698.
    Trailing One Year: The value of $1,000 invested one year ago is $57 [vs $639 for the All Ordinaries Index], including a capital loss of $952 and dividend reinvested of $9. The total return to shareholders for 1 year is -94.3%.
    Trailing Five Years: The value of $1,000 invested five years ago is $128, including a capital loss of $923 and dividend reinvested of $51.

    FUNDAMENTALS
    Earnings: The earnings yield of 43.6% is 8.6 times the 10-year bond yield of 5.1%.
    Price to NTA: The price to net tangible asset backing per share is 0.3.

    ISSUED CAPITAL
    Based on 2,296,051,089 issued shares the market capitalisation is $177 million.

    ACTIVITIES
    Infrastructure investment. The initial investment is the Dalrymple Bay Coal Terminal at Hay Point, Mackay, Queensland.

    TOP MANAGEMENT
    The Chief Financial Officer is Jonathon Sellar, the Chief Executive Officer is Jeff Kendrew and the Chairman is David Hamill.

    REPORTED SELLING
    Reported Selling:
    July 30: BABCOCK & BROWN INFRASTRUCTURE GROUP SUBSTANTIAL SHAREHOLDER SELLS
    Company substantial shareholder Macquarie Capital Investment Management sold 6,757,344 shares worth approximately $6 million on July 30, 2008. Macquarie Capital Investment Management previously held 125,328,639 securities (or 5.6%) and now holds 118,571,295 securities (or 5.0%).


    BUSINESS NEWS ROUND UP
    The last 5 snippets from News Bites were:
    October 22: Norges Bank buys 23.7m Babcock & Brown Infrastructure shares
    Norges Bank bought 23,745,295 Babcock & Brown Infrastructure shares between October 2 and 7, increasing from 143,819,579 shares (6.05%) to 167,564,874 shares (7.05%).

    October 22: Norges Bank buys 24m Babcock & Brown Infrastructure shares
    Norges Bank bought 23,745,295 Babcock & Brown Infrastructure shares between October 2 and 17, increasing from 143,819,579 shares (6.05%) to 167,564,874 shares (7.05%).

    October 20: Babcock & Brown Infrastructure governance reforms detailed
    Babcock & Brown has announced details of key reforms to the governance and management arrangements of its Australian listed infrastructure funds, including Babcock & Brown Infrastructure (BBI).The company foreshadowed the reforms in August 2008. There are four key aims of the measures: To strengthen the independence and decision making autonomy of the boards of Babcock & Brown Infrastructure; aligning the employment and remuneration structures of the dedicated BBI management team with operating results and performance; revising the base and incentive fee structures; and address structural elements of arrangements with Babcock & Brown.

    October 08: Babcock & Brown Infrastructure alternate secretary resigns
    Babcock & Brown Infrastructure Group advised that Paul Ferguson resigned as an alternate company secretary on October 8, 2008.

    September 25: Deutsche Securities buys 33.1m Babcock Infrastructure securities
    Deutsche Securities bought a net 33,097,094 Babcock & Brown Infrastructure Group securities between March 19 and September 23, increasing from 185,588,015 securities (8.08%) to 218,685,109 securities (9.20%).

    Currency Conversion: Australian Dollar AUD 1 = US$ 0.6737 [or US$1=AUD 1.48]; Against the US$ the AUD weakened 13.34 basis points (or 0.1%) for the day; strengthened 0.1% for the week; crashed 30.0% for the month; plunged 12.5% in the past year. $ 1 = 100c.


    Source: www.BuySellTips.com
 
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