sagittaria
27 Oct 2016
Re: Q3 IMS Regency Green "but in the meantime there's the growing divi"Hi RG, I am an amateur at all this, please can you tell me how you become aware of "growing divi", and when it is due?Any idea yet what value the divi might be?Thanks
Regency Green
25 Oct 2016
Re: Q3 IMS As you say reassuring RNS and I'll continue to gradually average down. Market perception of where the car market, particularly the new car market, in the UK is going will be hard to shift but in the meantime there's the growing divi. Happy with that.
Hardboy
25 Oct 2016
Q3 IMS First full quarter since Brexit vote & plunging £; and things look OK. No change in customer behaviour. No increase in new car prices. All areas of business growing steadily. Low debts.PE of 5.6, (Increasing) Yield of 4.7%. Looks way undervalued. And as for the buy back - £6.1m of the £20m completed - so about 1/3 of the way through the programme.
Hardboy
16 Sep 2016
Re: Buybacks Did a little checking - this buy back programme is going to total £20m. It began towards the end of May. Often announcements include how many in total have been bought, but these RNSs only give the daily totals. So doing some generalising - if the buy back has been going about 80 working days so far. yesterday they spent about £100k. If that's typical then they've bought back about £8m so far, which means they are less than halfway through. So it will probably keep going into the New Year at least.
Hardboy
15 Sep 2016
Re: Buybacks Hi Goofy,The way share buy backs work is the company has to get approval to buy back shares at a General Meeting; and they will usually give reasons for beginning a buy back programme. This will say how much they are going to spend on the share buy back. So if you go to their website and look up minutes of the AGM, or the final results you should get full details.Once approved the actual process of buying the shares is passed to a 3rd party, and they are restricted as to how many they can buy during the day, based on the volume of shares traded that day. That way Pendragon are not able to use the share buy back programme to manipulate the share price. In some ways (although this goes against the grain) it is in investors' interests to have the share price low during a buy back programme as that means they buy more shares, so we are left with a bigger slice of the pie. I'm sure a quick bit of web surfing will allow you to find all the restrictions about share buy backs.
Hardboy
14 Sep 2016
Re: Re:More buy backs but down!!! No mention of Pendragon on Short tracker. As for the new car market, the best we have to go on is the statement they gave us on 2nd August. What they said is; "Whilst there is great speculation about the effect of the UK’s decision to exit the EU, to date we have not experienced any noticeable change in our customers’ behaviour and, based on discussions with our franchise partners, we do not anticipate any material effect on new vehicle pricing as a result of exchange rates."So although I think both your points are logical and could still happen, I'm not sure there is any evidence of either yet.
decpos2
14 Sep 2016
Re:More buy backs but down!!! I think this share is suffering despite the buybacks on two fronts and the one leads into the other.Firstly there is sentiment against the car market in general due to Brexit, new cars maybe hit with tariffs and the second hand car market hit as a consequence.Then because of that shorters come in and short the stock.Two positives holding the stock up right now is the price going ex-div around the 23rd and the buybacks.I am waiting to average down at a lower price as it looks like a falling knife right now, hopefully before they go ex-div.
Hardboy
14 Sep 2016
Re: More buy backs but down! Another problem in assessing whether or not share buy backs work for a company is we are never in a stable state, there are always external market conditions affecting share price. I'm not going to check HSBC; but most banks plummeted after the Brexit vote and have been gradually recovering ever since. Also HSBC's earnings come from overseas predominantly, and the weak pound means their earnings will be increased in sterling terms, so there are 2 reasons for strength in the share price irrespective of the buy-back.
Gooffy
13 Sep 2016
Re: More buy backs but down! HSBC is doing it and it's shares have rocketed.Quite a sizable chunk been bought back now.I think it means if a large buyer wants some shares there are less to get so on that basis I think it's a good thing.Agree divi cost is reduced as well.
Hardboy
13 Sep 2016
Re: More buy backs but down! There are differing views on share buy-backs. I suppose if a company is growing and going to increase its earnings it's a good thing in the long term. However to my simplistic brain, in the short term its effect is neutral. Yes there are less shares, but the assets of the company have reduced too, so there is less value in the company spread across less shares. Where it is positive is in dividend payments - as there are less shares, the company can either pay the same amount in total which means a rise per share, or hold the dividend per share and have more money for the business, which should also be good for shareholders.
Gooffy
13 Sep 2016
More buy backs but down! I thought if there were less shares then the rest are worth more or is it me?
Yee Wo
06 Sep 2016
BUYBACKS!!?? Just perusing generic RNS flows and saw a notice from Pendragon. Read the piece and Low-and-Behold quite substantial amounts of the companies stock is being repurchased for cancellation. Does this mark The Marker for a speculative punt on Debt-Dragon? I guess one key decider will be results in February 2017. The other decider is the AGM towards the end of April '17 and, presumably, the dividend will be declared in parallel with the AGM? According to Brokers Numis (3 Aug) - 35p, Liberum Capital (2 Aug) - 50p, Jefferies International (17 Jun ) - 55p. I am wary of The Dragon's UK only footprint and Management have made some horrendous debt fuelled gaffs in the past. But 55p would/could represent a decent return........GLA!
JJPHOME
04 Aug 2016
Bought yesterday Having read the times article and carried out some more research, I bought a some of these shares yesterday, both for long term growth and a reasonable 4% dividend.
Boop
03 Aug 2016
Times article In the Daily Times today as a buy which is good enough for me with 55p target price, managed to pick some up early this morning just under 32p so happy with that
Hardboy
03 Aug 2016
Re: Interims Looks like a bit of a delayed reaction. The only broker note I saw was positive, but hardly a demanding target price. But volumes a lot higher today too; and a nice rise.
