32red Share Discussion Threads

[qs99] 23/2/2017 07:12

happy days, hope a few on board...

[qs99] 13/2/2017 12:32

and some more today

[qs99] 10/2/2017 14:18

moving along nicely ahead of update...GLA

[paleje] 10/2/2017 10:34

ST conclusion:-

"The point being is that I expect 32Red to come out relatively unscathed from the Triennial review, and the risk premium embedded in the share price to unwind, thus offering scope for a return to the March 2016 all-time high of 186p. Buy."

[johnv] 10/2/2017 10:09

What was their price target

[nw99] 10/2/2017 08:17

Tipped in IC

[paleje] 06/2/2017 13:45

Think ST has tipped these today but their website isn't displaying his article so I can't see if there are any refs to broker updates.

[shakeypremis] 03/2/2017 16:05

Yes a PE of 17 would seem a bit excessive. Certainly worth holding for a small rerate (almost certainly not to 250 though) from these levels though.

I've not seen the note, though I would like to. I don't know how to get hold of it.

[paleje] 03/2/2017 16:02

That 250p seems a bit generous of Peel Hunt. I think eps growth for this year is forecast to be 50% which, as we're on track for 2016, would mean 14-15p eps which would mean PER of around 17 which seems high. For our size and in uncertain times.

Not saying we won't deserve that sort of rating one day. If growth exceeds 50% of course that would be different, anybody got the Peel Hunt note?

[shakeypremis] 03/2/2017 08:34

250 is almost 75% higher than the current price.

[glaws2] 03/2/2017 08:07

Peel Hunt has initiated coverage of 32Red with a Buy rating, price target 250.00p

[djbilywiz] 02/2/2017 20:15

TTR has been doing well for some time now and all looks good from a business perspective. The question is though, will the big players buy the shares or give them a pass.

[glaws2] 02/2/2017 12:30

Seems to breaking to the upside from the triangle

[hutch_pod] 02/2/2017 09:10

Decent balanced writeup, cheers

[paleje] 02/2/2017 08:26

Tempus tips in this morning's Times:-

32red
Shares in the various gaming companies have been held back by concerns about impending regulatory crackdowns on fixed-odds betting terminals and on the marketing of their services. The first will not affect 32Red, which is entirely online and mainly offers casino betting; nor should the second be a concern, as its own ads are shown after the watershed.

The latest trading update, with net gaming revenues at the core business up 18 per cent, disguises a poorer second half, a 10 per cent rise against a 32 per cent increase in the first. The company was competing with the Olympics and the Euro 2016 football and was up against a tough comparator last time. Margins were also down because of a higher proportion of winners among its bigger customers — merely the luck of the draw.

The growth is coming from the 2015 acquisition of the Roxy Palace business and operational improvements that will mean sharply higher profits this year, aided by an Italian operation that is in profit at last. The shares, up 5¾p at 139p, sell on nine times earnings, which looks like good value for a business with strong growth prospects.

My advice Buy
Why Shares have been held back for no good reason

[mortimer7] 01/2/2017 16:13

Volume picked up throughout the day and now starting to move share price upwards

[shakeypremis] 01/2/2017 13:22

Here we go. Starting to move up a little now.

[shakeypremis] 01/2/2017 12:01

That flag looks primed for a breakout, especially with that silly PEG ratio.

[fizzypop] 01/2/2017 11:53

WheelieDealer ‏@wheeliedealer 2h2 hours ago

TTR ex-Cash Earnings Yield about 12% (inverse P/E) - very Cash Generative so must be high chance of Special Divvy.
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WheelieDealer ‏@wheeliedealer 2h2 hours ago

PEG Ratio on TTR is daft - strip out Cash fwd P/E about 8 and 21% growth - that's PEG 0.4 !!! 1.0 usually seen as cheap (lower is better).

[paleje] 01/2/2017 09:10

Thanks Glaws.

[glaws2] 01/2/2017 09:00

Edison (paid for research) view

[paleje] 01/2/2017 08:47

Might get some comment later, tbs, IC sometimes cover and add broker updates.

Forecast eps of 15p for 2017 so current year PE:9 which is cheap for consistent performance from good management. But having said that I noticed the slight revenue shortfall and also although January off to a good start 21% up, previous January was 27% up.

[thebigshort] 01/2/2017 08:15

As its only an AIM market share there is very little broker views or consensus regarding financial forecasts.

Important Highlights For Me;-

1) Record net gaming revenue up 28% to £62.3m (2016) from £48.7m (2015)
2) Italian market moves into profitability
3) Strong growth continues, already up 21% in 2017 than same period 2016
4) Cheap against its peers
6) Ability to cross-sell in other non-core products such as its sports book
7) Signed 12-month TV Advert deal in August 2016 promoting the sports book around live sport on Sky including a number of halt-time adverts in Premier League football matches
8) Sponsors of Leeds (3 year-deal) who have the chance to reach Premier League this year and Glasgow Rangers. Two clubs with massive fan bases
9) Progressive dividend policy with possibility of special dividend

[kevph] 01/2/2017 07:56

Yeah! Thought I'd gloss over that lol