Johandesilva
04 Apr 2018
Re: Martin Sorrell alleged misconduct "Could be a storm in a teacup."- you would think. I don't do sell rec's but based on the reaction to the first ever punch dismissal last year.... hmmm.
schwee
04 Apr 2018
Re: Martin Sorrell alleged misconduct Games,Agree. In any organisation someone always has an axe to grind.
gamesinvestor
04 Apr 2018
Re: Martin Sorrell alleged misconduct """WPP's board appointed an independent counsel to investigate Sorrell, the company told CNBC. The ongoing investigation doesn't appear to be material to the business, the company's statement said."""Could be a storm in a teacup.Games
Blanketstacker
04 Apr 2018
Re: Martin Sorrell alleged misconduct [link]
red fox
04 Apr 2018
Martin Sorrell alleged misconduct BBC report that Martin Sorrell is being investigated for alleged misconduct.[link]
Johandesilva
07 Mar 2018
Re: Beaufort's View Broker reports do appear to influence the price notably after an update. New low today. Been very lucky with this stock (sell on any rise buy on new lows).
Hardboy
03 Mar 2018
Re: Beaufort's View True - I used them a little when they inherited some of my holdings from another broker that went bust, but I soon sold up & had no further dealings; but I received their daily e mail update, and found their analyses of companies quite good.
Bill1703
02 Mar 2018
Re: Beaufort's View And very possibly Beaufort's last "view" - they've gone under this morning.Not much money these days in advising low-cap, low-quality corporates - or churning out equally low-quality investment analysis.Plenty of the latter on here, though, still! Present company very much included, I hasten to add... but at least some of us can keep our cost bases commensurately low....
Bill1703
01 Mar 2018
Re: Results out - broker snippets "I always take what brokers... with a large pinch of salt... Today the results changed nothing for me and I had the chance to double up... Every buy/sell has its risks but I reckon WPP is oversold/good value and will inevitably bounce back. We'll see."I generally agree, Uncle D - and indeed we are bouncing back. The market is a quixotic and emotional animal - and often forgets that it has already "marked down" shares when it smacks them once more, when they actually report what the market has already discounted. Double counting, if not actually double dealing...Results overall were fine - Q4 and early Q1 were weak, but we're talking short periods here, things can change quickly. Ultimately, by Sir Martin's own admission 2017 was "not pretty" - yet they can still grow EPS to 120p and the divi to 60p, record levels both... so, how much d'ya wanna worry!? 'Expectations' are the immediate issue here, rather than 'delivery' - and as we all know, expectations can and will change many times between now and this time next year... and are being guided (in part) by WPP's self-professed conservatism.Anyway, edited broker highlights below, to be taken with that pinch of salt perhaps - but sounds like estimates may come down some 3%... put that against a SP down some 11%, from an already-discounted base. MORGAN STANLEY"Poor Q4: WPP did -0.9% organic net sales growth for 2017 (versus our -0.4% ) implying a worse than expected -1.3% in Q4 (MSe 0.4%). There is a 1.5% miss at the EBIT level but the margin was in line with expectations down 10bps at 17.3%. The net eps outturn was in line at 120.4pWeak guidance: WPP is guiding to organic flat net sales growth in 2018 and a flat underlying margin in constant currency. We have 0.5% organic net sales growth and a 10 bps margin improvement. WPP says it is guiding conservatively but this is still likely to put pressure on forecasts.January net sales growth is down 1.2% although this is against a relatively tough comp ( 1.2% in Jan 17 was the strongest month of the year!)WPP has reduced its medium term guidance targets: WPP used to guide in its medium term business model to 10-15% growth pa. This has been reduced to medium term growth of 5-10%."CITI"There is no escaping it: the 4Q is weaker than expected and weaker than some of the group’s main peers. In terms of the main culprit it is clear this is largely a function of poor trading on the traditional side of the business (advertising and media buying was -2.3% for the FY vs. -1.2% forecast implying -3.7% in the 4Q). If the weak 4Q performance wasn’t bad enough, the group’s initial guide on FY18E is also perhaps weaker than investors might have hoped in light of positive commentary from peers. For the FY the group is guiding for flat growth and flat margins (not necessarily different from previous commentary) but January net sales down -1.2% - even if it is ahead of budget – is hardly an auspicious start.Margin Slightly Weaker Too — Previous margin guidance had been for flat progression YoY but ended up down 10bps to 17.3%. In part this is explained by FX but also the weaker end to the year must have had a part to play. Flat margin guidance for 2018E is at first glance helpful but against the backdrop of a lower 2017A it implies downside for citi/consensus (17.7%/17.5%)From an operational forecast perspective the lower base from 2017 and the flat growth/flat margin guidance would imply c. -3% off consensus estimates. FX pressures have reversed somewhat but we would still anticipate consensus EPS downgrades in the 3%-5% range."
Hardboy
01 Mar 2018
Beaufort's View WPP (WPP.L)Hold at 1,195pTarget Price: 1,300p WPP PLC reported it FY-17 results today, which showed disappointing Q4-17 revenue growth, with WPP’s 2018 outlook statement giving a "flat" outlook. Along with this, WPP stated that the long-term impact of technological disruption is unlikely to abate, intensifying competition in WPP’s markets.WPP’s Q4 net revenues (revenues less pass-through costs) fell by 1.3% on a like-for-like basis, which was a key disappointment for the stock market, especially after WPP’s guidance for a stronger Q4, with positive growth.Looking to 2018, WPP’s CEO Sir Martin Sorrell has guided to a flat revenue growth outlook, weighted towards H2-18. Earnings growth is likely to be better however, at around 5-10%, but this is still a sharp slowdown on the previous target of 10-15% EPS growth. Overall, we see little to drive the share price higher near term, thus downgrade our recommendation to Hold (Buy) and ascribe a new target price of 1300p, based on an 8.5x EV/EBITDA multiple, which we think reflects WPP’s industry status, yet lower growth outlook
Uncle Doug
01 Mar 2018
Re: Results out "To buy in today we have to believe the broker views will be positive"I always take what brokers and Motley Fool, etc. say with a large pinch of salt. I did my research on WPP and last year I bought some shares. Today the results changed nothing for me and I had the chance to double up and get a cheaper overall buy price and higher dividends. Every buy/sell has its risks but I reckon WPP is oversold/good value and will inevitably bounce back. We'll see.
Merlindale
01 Mar 2018
Re: Results out Def a hold at these levels, but could be worth topping up if the market takes these further below1175, a level which should be supported by well covered dividends at a fair price.
gamesinvestor
01 Mar 2018
Re: Results out "Bought some more shares (doubled up actually) @£12"Well the fall today just wipes out the gain in the last week or so, as they did hit around £12 ish back then, I bought some at 1227.Games - unless of course it keep falling -- It's 1.5% of my wad and it'll stay in the sock drawer.
EssentialInvestor
01 Mar 2018
Good call by LK I remember his previous view
Johandesilva
01 Mar 2018
Re: Results out Uncle Doug,To buy in today we have to believe the broker views will be positive and their targets raised/held. Are we (not me) smart enough to know what they are thinking?
