4imprint Share Discussion Threads

[battlebus2] 07/9/2011 14:52

Yes that is the case but results etc do not concur with that view at present. I don't own a crystal ball so will hold till it's clear what future prospects are.

[timp230] 07/9/2011 14:39

Could it be that the market is becoming pessimistic about 4imprint's prospects, taking the view that, if we're facing a worsening economic outlook, it's products are exactly the kind of "discretionary" purchases which are always the first to be cut from a company's expenditure budget when the outlook is gloomy or the bottom line is under pressure?

[battlebus2] 07/9/2011 14:14

Not going in the right direction today. Keeping the faith however hard.

[battlebus2] 19/8/2011 12:21

Certainly helps!

[kimball808] 19/8/2011 12:03

Could one argue that the Dividend yield on this has put the brakes on the fall?

[nick2008] 15/8/2011 22:24

Topped up last week, this will go up.......300p here we come

EDIT

This is definitely a BUY



Investors are to be rewarded with a 6% hike in the interim dividend to 5p a share - with a forecast of 14.3p expected for the year. Peel Hunt has upped its 2011 pre-tax profit forecast by 3% to £12m (and share price target to 345p), to produce EPS of 35.7p. Though economic headwinds are unhelpful, at 225p, a forward PE rating of just 6 and a predicted yield of 6.4% leaves 4Imprint firmly in the value stock category. Buy

DYOR
Nick

[battlebus2] 15/8/2011 08:22

OK who's listening? Moving up.

[battlebus2] 14/8/2011 11:33

Has a lot of catching up to do after the recent rally. The only stock in my portfolio that hasn't.
Analysis
The EV/EBITDA ratio is a relevant ratio for financial analysis. 4 Imprint Group shows a EV/EBITDA ratio of 3.85 for the next 12 months, which is significantly lower than the median of its peer group: 4.90 according to this financial analysis 4 Imprint Group valuation is way below its peer group's.
this ratio is significantly lower than the average of its sector (Media Agencies) 6.26 according to this financial analysis 4 Imprint Group valuation is way below its sector.
EV/EBITDA ratio of 4 Imprint Group (GB0006640972 - FOUR) and its peer group for financial analysis
4 Imprint GroupPeer group: Ratios based on Fri, 12 Aug 2011.
4 Imprint Group Peer group
Enterprise Value(in thousands USD) EV/EBITDA Relevance Score
2012 next 12 mth
4 Imprint Group 96 907 3.71 3.85
Hi Media 254 875 6.35 6.78 100%
Integer.pl S.A. 186 015 8.47 9.44 100%
Valassis Communications 1 569 678 4.22 4.34 90%
Chime Communications... 265 895 4.35 4.46 87%
Cello Group plc 54 048 3.54 3.64 83%
Valueclick Inc 942 376 5.12 5.39 81%
4 Imprint Group Benchmark
EV/EBITDA
next 12 mth
Company 4 Imprint Group 3.85
Peer group 4 Imprint Group excluded 4.90
4 Imprint Group included 4.86
Sector Media Agencies 6.26
S&P 500 7.12
STOXX Europe 600 5.72
Country GBR 5.76

[battlebus2] 10/8/2011 12:39

once they have gone we should motor back to £2.75 imv.

[davemac3] 10/8/2011 12:38

you can buy these at mid price at the moment so may be a few to shift

[simonh88] 09/8/2011 23:47

shame, but isn't that what we have now?

[napoleon 14th] 08/8/2011 09:21

I'll keep mine. Cheap!

Only a global meltdown will screw the game here.

[chrisb1103] 04/8/2011 08:16

Just 7.8 times 2011 forecasts! - so so cheap for growth like these are showing. 1st half their weaker too so still every chance they'll beat expectations here. Great yield too of 5.5% ish for the ISA.

[farnesbarnes] 04/8/2011 07:57

IC buy at 262p.

[mesquida] 03/8/2011 10:06

Large trade reported - one side only - indicated seller has gone and trade is for an odd number of shares which suggests it might be the end of the line that has been hanging over this stock for some time now. Could be very bullish signal. Meanwhile brokers are upgrading their forecasts by about 3% and the Directors are in the City today for a series of investor meetings. Shame about the market background!

[battlebus2] 03/8/2011 08:07

Obviously this is not a decent market!

[battlebus2] 03/8/2011 07:40

Yes good results for me also, certainly worth £3 in a decent market.

[chrisb1103] 03/8/2011 07:37

Good results for me! Let's hope this market thinks so...

Underlying operating profit was GBP4.84m, an increase of 33% (half year 2010: GBP3.64m)
Underlying basic earnings per share 13.93p, up 24% (half year 2010: 11.23p)

Interim divi up 6% - 5p here to those on register on 12 August

"The Group has made good progress in the first half of the financial year. Revenue and profit are both well ahead of prior year particularly in North America, where we continue to gain market share. The Group is cash generative, has low debt and a strong platform for growth and is therefore well positioned to make further progress"

[interceptor2] 02/8/2011 13:15

Maybe. I'm not holding ar present, but will be interested to see tomorrows results.

ic2...

[cfro] 04/7/2011 18:36

So no trading update mores the pitty and will now have to wait utill 3rd August. Never mind i may have time to top-up before then.

[battlebus2] 04/7/2011 18:33

Well results the 3rd of August then.

[interceptor2] 30/6/2011 16:30

Thanks for the PH forecasts, still the same but could change on the next trading update.

And yes totally agree about prefering broker forecasts to be on the conservative side. It's better to under promise and over deliver. I had better not become a broker, I'm always far too optimistic. When I work out future earnings for a price target I have to force myself to deduct at least 20% due to my optimistic nature. ;o)

ic2...

[calahan] 30/6/2011 16:20

@ ic2, here's the PH forecasts from today's note.

Y/E Dec 2010A 2011E 2012E 2013E

Sales(£m) 200.8 214.2 228.8 245.0
EBITDA(£m) 12.6 14.4 16.1 17.6
Op Margin(%) 5.1 5.6 5.9 6.1
Adj PBT(£m) 9.8 11.6 13.3 14.8
Adj EPS(p) 31.4 34.7 35.8 39.2
EPS growth(%) 103.6 10.4 3.2 9.6
DPS(p) 13.7 14.3 15.0 15.8
PER(x) 8.6 7.8 7.5 6.9
Div yield(%) 5.1 5.3 5.6 5.8
FCF yield(%) 9.9 6.2 8.7 8.9
EV/EBITDA(x) 5.6 4.9 4.2 3.7

----------------------

I'm happy with the PH target price, not that I don't agree it's probably on the low side, but I personally tend to prefer conservative broker estimates. As then more chances of (good) companies beating those forecasts thereby generating strong momentum and confidence from that positive news flow. And I find this is usually to be preferred to over optimistic estimates that cause (good) companies to miss broker estimates, and then suffer downgrades and bad sentiment due to missing those estimates that have possibly been set by some over zealous brokers (Especially if broker coverage is limited). And after missing those estimates, there's the potential for subsequent downgrades being largely caused by nothing more than those over zealous brokers getting a dose of reality and revising their estimates to more sensible levels.

Plus I've found spotting (good) companies with overly low broker estimates to be a useful starting point to finding some unloved fruits :)

All IMHO of course.