04/10/2015 12:18:23 Cookie Policy Free Membership Login

Aegis Grp. Share Chat - AGS

Share Name Share Symbol Market Type Share ISIN Share Description
Aegis Grp. LSE:AGS London Ordinary Share GB00B4JV1B90 ORD 5.5P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 239.80 0.00 0.00 - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 11,854.7 106.4 13.4 17.9 2,813.68

Aegis Group Share Discussion Threads

Showing 776 to 799 of 800 messages
Post New Message
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  >>
Has anyone received their money yet?irenekent
The Chinese have finally at the last minute given consent and the takeover can go through. Goodbye and good luck.irenekent
Why has the share price dropped again???mida5
Is there any dates out for the t/o yet, apart from the last Q of the yearmida5
Thanks Sharw, with the markets not knowing where to go it might be as well kept there for an extra 2%mida5
It is the time factor - the S of A is currently scheduled to complete in "Q4" which could be anything from Oct. 1st to Dec. 31st. If you know of a nice little trade that will bring you a profit of 2% before then, then it would pay you to sell AGS now and invest there instead. 235.8x1.02 = 240.5sharw
Why are we not trading nearer the 2.38/9 level? Any thoughtsmida5
Investec (LON:INVP) believes Japanese gorup Dentsu’s £3.2 billion bid for Aegis (LON:AGS) looks a “very full price” and that a rival offer is unlikely. http://www.proactiveinvestors.co.uk/companies/news/45433/aegis-unlikely-to-receive-counter-bid-says-investec-45433.htmllucky_punter
well done holders. what a price.markie7
Absolutely no interest from PI's. Been in these for yonks. Glad I didn't sell - it just goes to show that going your own way far from the bulletin board favourites can give a steady income and a healthy capital return.irenekent
the japs are completely crazy imo. over ambitious. will end in tearszyzzyva
240p cash rec Dentsu t/o offern3tleylucas
Fantastic resultsninja 19
I am in for tomorrow. It's going to be a bumper year for them.ninja 19
general motors it is!!!!!!salver2
takeover in offing!-or about to announce they have snaffled general motors business or unilevers??salver2
Constant gainer over last 10 days. Any thoughts ?pugugly
Something odd - not sure what to make of this : http://www.independent.co.uk/news/business/news/aegis-approach-was-ignored-says-adviser-2312238.htmlsharw
Large amount of info just been put up at: http://ftalphaville.ft.com/marketslive/ Apologies for length but need to capture while live: 12:09PM BE Ok - question on the right about Aegis Aegis Group PLC (AGS:LSE): Last: 150.40, up 9.2 (+6.52%), High: 152.33, Low: 149.89, Volume: 8.35m BE On the news it's looking to flog Synovate BE The market research bit BE Leaving it a tidier takeover target for Publicis BE Or am I getting ahead of myself here? NH no NH that's the read across NH this business goes NH and the rest gets gobbled up BE Been on the cards, I guess. BE Aegis's CEO came from the other side of the business. BE And it was always trickier to identify buyers for market research than ad sales. BE As is, assuming this deal completes, it'd leave Aegis with a lot of cash and not much to do with it. NH yes BE Can't really give it back to shareholders, as it's a growth company. BE So - a big acquisition, I suppose. BE Or a sale. BE Anyone done any breakup valuations this morning? NH hang on NH here's something from Altium NH Given that Synovate generates c. 36% of total revenue this would be a radical move for AGS, although it has long been recognised that there is little or no synergy between Synovate and the larger Aegis Media business. Synovate is also lower margin and although a high quality business with attractive medium term prospects is, in our view, the less well understood part of the group, a factor which we believe may have exerted a drag on its overall valuation. A price tag of £500m has been suggested in the press which we estimate would equate to c.0.9x / c.11x current year revenue / underlying operating profit respectively. Press comment suggests that other parties may also be interested with this morning’s announcement likely to force their hand. NH Whilst there can be no certainty that an agreement will be reached, we believe this morning’s news will be taken well. Resultant cash would substantially enhance the group’s ability to pursue its strategic goal of internationalising (particularly expanding into emerging markets). However, perhaps more significantly we believe this news will effectively place the group in play as a take out and / or break-up candidate with Groupe Bollore’s c.26% stake a potential stepping stone in this process. We reiterate our Buy recommendation and believe the group’s stock offers attractive value with or without the presence of bid speculation. NH and here's Liberum NH Aegis this morning confirmed it is in talks to sell its market research business, Synovate, to global market research firm Ipsos (NR). We think other potential bidders could emerge. The announcement of these talks, plus the questions it raises over Aegis’ future, are likely to mean the stock outperforms its agency peers over the short-term, especially given the recent uncertain economic newsflow. Reiterate Buy and 165p fair value NH Do we think Synovate will be sold (depending, of course, on price)? Yes: Aegis' CEO, Jerry Buhlmann, is a media man (he was CEO of Aegis Media prebecoming CEO of Aegis Media) and the two businesses have always sat awkwardly together as there are few synergies. A sale of Synovate has been mooted by analysts and, while Aegis has always said Synovate is a core business, there has always been the feeling that it would make sense to sell. NH Could other bidders emerge? Yes: both Ipsos and its German-listed peer GFK (NR) need to build up scale. GFK previously bid for TNS before it was bought by WPP and has said it would look at Synovate if it came up for sale. Both should have the financial capability to do a deal, especially given the favourability of the GBP-EUR exchange rate. NH Is the speculated £500m a good price? Yes: it equates to 11x 2010 EBITA preallocation of central costs, which is a good price for a business that makes c. 8% margins. WPP bought TNS back in 2008 for c. 14x 07 EBITA (including TNS’ central costs) but TNS had higher margins at 10.5% (in 07). NH Would WPP bid for Synovate? Unlikely: not only are there potential market share issues but we just do not see Synovate, with its heavy weighting towards custom research, as a business that WPP feels as though it needs to buy, especially given it is keen to emphasise its move away from big acquisitions. Strategically, a deal would not make sense: the integration of TNS has not happened as quickly as they planned so adding another integration effort on top would be a burden. And with Market Research already at c. 25% of group revenues and already acting as a drag on organic revenue growth and margins, we do not see any reason why WPP would want to increase its exposure to the area. NH What would Aegis do with the cash? There are several options: pay down debt; hand the cash back; or make a big acquisition. They could pay down debt but they only had £331m of net debt at YE10 and cash interest rates are low so there would be the risk of dilution. We do not think they will return the cash to shareholders as, essentially, it sends a signal they cannot find any good investments and are a sitting target (though see below). Our thoughts are they look to make a big acquisition, with the focus on digital, where the other major groups have made major deals and where Aegis is likely to want to strengthen its offering. BE Good note, that one. NH apologies that's long NH but the best round up I have seen BE That's Ian Whittaker BE Who's also done a breakup price. BE Assuming the £500m disposal price for Synovate is correct, we estimate that a sale of the remaining part of Aegis (i.e. the media arm) at a mid-point multiple range would equate to a share price range of 165p, in line with our DCF. BE Putting a multiple valuation on the media business is somewhat tricky: there have been few (if any) sizeable transactions in the space in recent years. However, given (a) media buying and planning is the one business that benefits definitely from scale (b) it is also the highest margin part of an agency’s business overall (at Aegis, research makes 8% margins, media 18.6%, both pre-central costs) and (c) Aegis has a well-established position in Western Europe, we see a multiple of 12-14x 2010 EBITA pre-central costs as credible, especially if the lower margin research business goes for c. 11x EBITA, as speculated. BE At these multiples for media – and assuming a £500m valuation for the research business – a mid-point of 13x EBITA for the media business would mean Aegis would be worth 165p (including an adjustment for deferred consideration). However, at a 15x multiple for the media business, Aegis could be worth up to c. 190p. BE Anyway - that's enough of that. NH yes NH done that one to death 12:17PMsharw
Just found this: "Analyst Alex DeGroote of Panmure Gordon reiterated the broker's buy recommendation and raised its target price from 175p to 190p". Source: http://www.thisismoney.co.uk/markets/article.html?in_article_id=535737&in_page_id=3#ixzz1OUXyJhgs and thanks to SpikeyDT at iii for pointing it out.sharw
The market has reacted positively. The 5 year closing high was 152p on 15/2/07 - will it beat that today? PUGUGLY - the only broker target I can find is Panmure Gordon raising target from 160 to 175 on 11/2/11sharw
Anyone seen a brokers price target ?pugugly
The possibility of Synovate being split off resurfaces: http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/8557172/Ipsos-Group-leads-the-chase-for-market-researcher-Synovate.htmlsharw
http://www.my-share.co.uk/Newspaper-share-tips-February-2011/newspaper-share-tips-march-2011.html Tipped in press today as a buy.nellie1973
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  >>

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 151004 12:18