EssentialInvestor
19 Mar 2018
Re: Re: As Laird recently showed HB,or Fenner today on that after hrs statement.In the case of Fenner thought it was pretty much fully priced,worth more to someone else though.
Hardboy
19 Mar 2018
Re: Re: Lots of good points, essential, but remember the words of the sage of Omaha - be brave when others are fearful. There is always good value somewhere. Problems in one area are opportunities in others. Personally I'm pretty much out of all businesses reliant on the UK economy. I do have some Lloyds still; as the dividend looks fairly secure; and (if the high street is in trouble) I also have some H&T. I don't understand the recent negative movements in the tobacco sector. (BATS as well as IMPS.) My feeling is this is exactly the sort of situation to apply Mr Buffet's philosophy; and I'm hoping TATE is being treated similarly. Retailers and Utilities - I agree best avoided. it's no surprise that commodities are going up, with threats of tariffs, so the mining sector could be a place to look for opportunities.
EssentialInvestor
19 Mar 2018
Re: Re: Speaking of dangerous, look at today's savage fall in shares of Micro Focus.That company was lauded by many with shares touching near £30just 12 months ago.
EssentialInvestor
19 Mar 2018
Re: Re: There does not look much value to me in this market.The debt laden UK utilities are being hammered, UK cyclicals look to be rolling over, with some huge individual falls already. Much of UK retail looks dangerous.We have seen huge price gains in the commodity space.Increasing discruption poses a threat to multiple industries.Even longer term divdend stars like IMB are being killed.Sentiment towards TATE is currently on the floor, I suppose we could alwayshead for the basement!. At least the business looks Amazon proof.
Hydrogen Economy
15 Mar 2018
Re: Re: WuffetNot sure about a historic PE of less than 10x. Last years EPS were 47.7p according to my reading. Having said that it is 'cheap' but is it good value? Reported EPS was 54.2p, adjusted 47.8p so as Hardboy says, take your pick.More important is what is the growth potential here, the mean forecasts say none for next 3 years.48.9, 47.9, 48.8 (Digital Look or UK Webfg as it now chooses to be known)46.7, 45.9, 46 ( 4-Traders)That implies forward PE of nearly 12 with no growth.Even the highest of 8 EPS forecasts for 18/19 are 49p and 50p. That would not give me much encouragement. [link] estimate that growth needs to pick up to 3-4% pa after 2020 to justify 550p on a DCF basis, in the meantime flat EPS is hardly likely to excite the market.I remember posting a positive view on TATE about a year back noting the company forecasts for new products growth. LKH, (now sadly missing in nautical action) came back with the response to the effect that he had found them to be a serial disappointment, I should have listened to his advice, selling at about 12% loss 6 months later. I shall not be buying. H2
give the dog a bone
15 Mar 2018
Must be due for takeover so... Maybe Melrose might bid and acquire assets on the cheap?Share price defiantly heading south despite good trading so a take over must be a goodPossibility
Hardboy
15 Mar 2018
Historic PE wuffett "Not sure about a historic PE of less than 10x."The ii fundamentals works out PE by dividing the current share price by the last announced EPS - currently 9.87. of course sometimes one has to select the right EPS - Reported, basic, underlying like for like etc.
wuffet
15 Mar 2018
Re: HiNot sure about a historic PE of less than 10x. Last years EPS were 47.7p according to my reading.Having said that it is 'cheap' but is it good value? Good luck
EssentialInvestor
14 Mar 2018
Re: NAFTA uncertainty imv. The recent appreciation of GBP/USD has also been unhelpful, but NAFTA is the elephant in the room.
Hardboy
14 Mar 2018
Since releasing its Q3 update just over a month ago, the share price has been very weak, but it's hard to see why: here are relevant direct quotes: "remains on track to deliver progress in adjusted profit before tax in constant currency for the year ending 31 March 2018, in line with guidance""In Speciality Food Ingredients, the core business delivered good volume growth""In Food Systems, profit improved""In Bulk Ingredients, sweetener volume in North America grew and profit growth is currently expected to be robust"So basically all divisions have grown profits. What has caused the continued weakness? It's trading on a historic PE of under 10; and profits will have improved this year and currently offers a yield over 5% which is well covered. This is looking very good value for a recovery.
Warren Buffoon
15 Feb 2018
Re: First purchase Yes Grey, I've had these share for three years now as a "value purchase". I buy mainly for dividends so regardless of the ups and downs , we shareholders are currently getting a 4.9% dividend.I'm a " forever" holder so I don't keep tabs on the capital value. Of course, if there's no dividend at all (heaven forbid) I'd have to sell.So who knows, I may be here in 10 years time. (I have shares in my portfolio from 24 years ago!!).
Greyinvestor
14 Feb 2018
First purchase Modest first purchase for me @£5.77, following the Chairman today......A value purchase.
nk1999
13 Feb 2018
Jefferies "Tate & Lyle: Jefferies ‘chastened’ buyer after sell-offJefferies remains a ‘chastened’ buyer of Tate & Lyle (TATE) after an underwhelming update in the midst of stock market turmoil last week saw the shares slump.Analyst Martin Deboo retained his ‘buy’ recommendation but reduced the target price from 750p to 665p on the shares, which fell 2% to 570.4p yesterday.‘A superficially anodyne update has prompted a 10% sell-off,’ he said. ‘It also sends a message to incoming chief executive Nick Hampton that fresh thinking is going to be required to restore value.’ ‘The combination of trough valuation, an impetus for decisive action and belief in Hampton keeps us chastened buyers.’He added that ‘the reality is that Tate is now a cheap asset, earning below-average margins, in an industry that might be ripe for consolidation’. "(From Citywire)
EssentialInvestor
12 Feb 2018
Trading Update - Seeking Alpha The transcript, with the Q&A is available on SA.Hopefully ii are ok with me mentioning this, as it's not available here.
Hardboy
11 Feb 2018
Re: Motley Fool Got them both, but I'm not sure I should be boasting about that!
