valeite
01 Mar 2019
Contract loss losing a contract with University of California is a big deal and RELX is having difficulty with other American universities .just when we was getting a head of stream too .
Rhigos
16 Feb 2018
Re: 2017 results Off topic,frusset, "has New Scientist had articles about how deep learning networks can be fooled (e.g. a pic that looks like a cat to a human but looks like something completely different to a trained DNN)"I can only remember a couple of short articles on this. There have been a lot of articles about machine learning algorithms that have resulted in biased prejudicial results for various unforeseen reasons. E.g. software for screening job applicants that only selected similar people to those already employed. Incidentally I subscribe to ShareScope and SharePad for data and charting as an aid to company analysis.
frusset
16 Feb 2018
Re: 2017 results Rhigos, I haven't held the stock for long. I bought into the falling knife, which now looks stupid, though it shouldn't make much difference in the long run. I checked the financial metrics on Morningstar [link] . ROIC has not been far from 20% since 2012. Return on assets, about half that. As you say, more or less, ROE can be high just from being juiced up by leverage. You might know about research from McKinsey showing that ROIC mean-reverted less and more slowly than revenue growth (see [link] ).I used to subscribe to New Scientist, but these days I don't have the time to read much of it. This has nothing to do with Relx, but I'm curious, has New Scientist had articles about how deep learning networks can be fooled (e.g. a pic that looks like a cat to a human but looks like something completely different to a trained DNN). And have they had anything about using GANs for design? There's a rather optimistic statement from the CEO of Nvidia (I'm long NVDA) that using GANs you could design a car with a few artistic strokes, and the details would be filled in automatically.
Rhigos
15 Feb 2018
Re: 2017 results frusset, I first bought REL in March 2013 at 720. Since then I have topped up three times and took some profits once. They are my sixth largest share holding out of 44. REL has been one of my best performing shares, but SP performance, since their high on 28 Nov 2017 of 1782, has been disappointing. Perhaps this under performance down to dispute with German universities. There are some impressive fundamentals such as ROE 55.5%, ROCE 20.7% however borrowing high with gearing of 209% but interest covered 9.6 times. Gearing explains why ROE so high. My feeling is that shares are now oversold and due to recover. I am a subscriber of New Scientist, one of their publications that I recommend.I am pleased to see SP now (16
9) up 0.6% on day so perhaps the positive broker recommendations taking affect.
frusset
15 Feb 2018
Re: 2017 results If I was sure of my thesis, I ought to be buying, but it's a complicated world and the only important part of my thesis I'm sure of is that machine learning will be huge.Rhigos, you might well be right about buying opportunity, but I'm fairly sure you're right to have doubts - "On balance I think". Any more bad news could have a disproportionate effect on the share price.
frusset
15 Feb 2018
Re: 2017 results Shares Magazine [link] mentions a few things, like the stock is seen as a bond proxy, and there's a dispute with German universities about scientific journals.I think there are reasons why the stock could go lower, though I'm not saying it will. I have a small holding of the stock, because I think machine learning is going to be huge, and it will benefit companies with data. In the earnings call, management said they owned the data they analyze, but didn't explain how they got it. It seems fairly complicated and investors should refer to the earnings call or other sources, rather than what I think. Anyway, the big tech companies like Facebook and Google have loads of data but with problems like fake news, and there's some risk of being regulated in a way that would hit earnings. I suppose Relx owns business data rather than what people think of cats and Kardashians. So far I haven't seen problems with Relx that affect my thesis. BTW I'm long FB, GOOG and other stocks which I hope will benefit from machine learning, though probably with some losers.
Rhigos
15 Feb 2018
Re: 2017 results Thanks frusset.On balance I think today's fall is a buying opportunity. I note SP is already recovering.From link you posted there is this negative:RELX has an “uncertainty problem”The analysts also noted that RELX has an “uncertainty problem” which it thinks changes the story, which has been about reliability for the last five years.They said: “The uncertainty comes in Scientific, Technical and Medical (STM) (33% of revenues; 40% of EBITA), where a protracted negotiation with a consortium of German universities is raising question marks about future journals' growth.“We had previously thought there would be a resolution to this negotiation and the issue would start to drift away. We have changed our mind after speaking to a handful of industry consultants.”The analysts added:” While the comments varied, the overall impression was that the situation will drag on, and it will not be easy in the next 6-9 months to build confidence on future growth at RELX's STM.”
frusset
15 Feb 2018
Re: 2017 results I googled "why are relx shares down" for the past 7 days, and got some results. Proactive Investors [link] give short quotes from Liberum and Numis. Liberum think the dip is a buying opportunity. Numis expected better results and think the shares are fairly priced. I'm not convinced either knows why the shares are down so much, or if they do they aren't saying.
Rhigos
15 Feb 2018
2017 results Looking over results everything looked positive. Results in Euros not as impressive but apart from flat revenue all appeared up. I do not understand why SP is down sharply, perhaps market was expecting even better results. Anyone got any comments on results?
valeite
20 Nov 2017
kepler cheuvreux says.... ..... buy (up from hold) and raises target price to £19.9 (stockmarketwire)
valeite
27 Oct 2017
barclays capital says... overweight and targets £18.85
valeite
26 Oct 2017
CFO talks on bloomberg Nick Luff having a good chat on Bloomberg and it was upbeat .a good explanation about why RELX has done well and why it should continue....trading from 40 countries servicing 120 countries I think he said.....not really worried about brexit.....will continue with bolt on acquisitions...plenty of organic growth....a nod and a wink for a 2018 buy back .a good cash generative business that should continue to be popular with investors I should say
Rhigos
02 Mar 2017
3rd all time high SP in a row REL SP is really motoring on up. I note from RNS now has 5.59% of issued shares (including those in treasury) in Treasury which will save on dividends payout by about 5.6%, but not so happy with them buying their own shares when they are at an all time high. As my REL shares are held in an ISA I would much rather have a special div.Transactions in own shares RELX PLC announces that today it purchased through UBS Limited 170,057 RELX PLC ordinary shares of 14 51/116 pence each on the London Stock Exchange at a price of 1513.4975 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, RELX PLC holds 64,014,232 ordinary shares in treasury, and has 1,080,548,393 ordinary shares in issue (excluding treasury shares). Since 3 January 2017 RELX PLC has purchased 4,598,945 shares.I'm thinking it might be an idea to sell a few REL shares to take some profits. Will hang on from the moment though.
Rhigos
18 Jan 2017
Share buybacks I note REL are buying their own shares and putting them in Treasury. Not being cancelled so the only advantage for shareholders is that dividends are not paid on Treasury shares so more cash available for dividends. Interesting that they buy shares mostly a few hundred at a time. Today about 200 trades and similar number yesterday. I suppose if they bought one or two big tranches it would push up SP artificially.
Rhigos
22 Jul 2016
Topped up at open today A limit order I put on yesterday evening met a good bit below limit I had set. Got them for at 0812 met at 1393.6 and SP now 1413 to sell so up 0.65% after purchase dealing charges. REL now my 4th largest share holding by value..
