value play, page-6

Morgans thinks the stock is cheap as it is trading on a FY19 price-earnings multiple of 12 times.

That is low considering that consensus is forecasting a 30% increase in FY19 earnings per share and a yield of around 5% before franking credits. This time next year will be cycling a low industry wide period (Eagers for example fared worse most recently), and acquisitions will have full year work through.