Close Brothers Share Discussion Threads

[flatoutfred] 09/10/2014 08:39

WoW - someones confident. BUY 63.5k @ 1484

Noice

[its the oxman] 02/10/2014 16:53

Took a chunk out of this and switched into BNC after its fall to 570p. Hope I don't regret it as the story here is still very good.

[luckymouse] 30/9/2014 10:27

Classic undervalued stock catching up :)
www.barchart.com/snapopinion/stocks/CBG.LS

[ygor706] 23/9/2014 18:08

Good results on a bad day. We"ll have to wait for things to settle down before we see the real effect on the share price

[silverfern] 23/9/2014 07:29

very good results and a big divi

[its the oxman] 19/9/2014 10:52

Results just round the corner. Decent chance of testing 1500p if we get a positive outlook and slight upgrade.

[luckymouse] 14/9/2014 19:27

www.barchart.com/snapopinion/stocks/CBG.LS

[its the oxman] 11/9/2014 20:48

Only seven trading days go before results !

[high park] 07/9/2014 19:28

Thank you, Woodmeister, much appreciated.

[woodcutter] 06/9/2014 13:14

Student, quite right for that day but there's a -ve divergence in place across two indicators and it's on potential resistance. And we've had two consecutive days of hanging men now:-)

There are two many short term potential resistance points now so i'm overhung and out.

I'll reconsider my position if share price gets above previous highs or a fall back to previous support around 1240/50

WC

post note: if you're still in OPAY there's a very strong -ve divergence across slow stochastic, RSI and MACD added to the current candle reversal pattern.
I've been watching it, looks like i sold a bit early but i still feel it's overvalued. 888 results weren't anything to get excited about. Won't post there now too much conflict. If results on 10th aren't strong it will fall hard imv.

Sorry off topic.

[luckymouse] 05/9/2014 10:58

most likely is consolidate then leg 2

[its the oxman] 05/9/2014 00:16

Decent results should send us higher so my fingers are crossed and I will resist the temptation to lock in my profits. Probably live to regret it but hey ho.

[high park] 04/9/2014 20:42

Engulfing black candle is a reversal sign, Master, but that's not how the day finished.


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[woodcutter] 04/9/2014 10:41

closed my trade yesterday on the spike up, just above 1380p potential resistance. will consider buy back on confirmation of uptrend. Possible -ve divergence forming and reversal signal.

i would expect it might form an uptrend channel from here, will wait to see if it turns down to channel support before coming back in.

woody


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[mechanical trader] 03/9/2014 13:16

CBG

Looks very cheap to me, way undervalued......

Close Brothers Group PLC

FORECASTS

2014 2015
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon
02-09-14 HOLD 102.00 48.00 116.00 52.00
Peel Hunt LLP
02-09-14 BUY 199.45 102.44 49.00 232.72 120.88 53.50
Shore Capital
29-08-14 HOLD 197.80 101.60 49.00 225.00 117.10 54.00
Westhouse Securities
28-08-14 BUY
Canaccord Genuity Ltd
24-07-14 BUY 201.00 101.80 50.00 243.30 127.40 57.00
Numis Securities Ltd
24-07-14 HOLD 197.60 105.90 51.60 222.30 119.20 57.60

2014 2015
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 198.64 101.95 49.41 228.95 119.10 55.09
1 Month Change 0.01 0.00 -0.01 0.05 0.01 -0.03
3 Month Change 0.01 -1.20 0.05 0.06 0.03 1.35

GROWTH
2013 (A) 2014 (E) 2015 (E)

Norm. EPS 18.82% 27.12% 16.82%
DPS 4.94% 16.27% 11.49%

INVESTMENT RATIOS
2013 (A) 2014 (E) 2015 (E)

Dividend Yield 3.10% 3.61% 4.02%
Dividend Cover 1.89x 2.06x 2.16x
PER 17.08x 13.44x 11.50x
PEG 0.91f 0.50f 0.68f
Net Asset Value PS 451.29p 489.70p 549.10p

[woodcutter] 03/9/2014 10:00

Undervalued Close Brothers a buying opportunity


Fears about rising interest rates impacting lending group Close Brothers Group (CBG) are unfounded, according to Berenberg.

Berenberg analyst Pras Jeyanandhan retained a ‘buy’ recommendation and increased the target price of the shares from £16.40 to £16.65. The shares were trading at £13.70 yesterday.

‘Close Brothers shares have underperformed the Stoxx Europe 600 in 2014 by c.7% on concerns around the impact of rising interest rates in the UK,’ he said. ‘We think these fear are unfounded, and see the recent pullback as a good buying opportunity for a high-quality growth business.

‘We see significant scope for a re-rating as the group’s return on equity continues to improve and the rate of growth in tangible book value picks up. Close is our top pick among the specialist lenders.’

woody

[luckymouse] 02/9/2014 21:30

In case you were wondering that's a simple yardstick formula - useful if you want a quick n dirty method of telling if somethings notably over or under (assumes no govt, ccy, foreign risk).

You can be a bit more specific - CGB is in the FT250 & Fin Svcs sector but actually has a wider range of activities:

markets.ft.com/RESEARCH/markets/DataArchiveFetchReport?Category=EQ&Type=FTUK&Date=09/01/2014

Avg Adj PE (latest 12.6, FY1 11.6, FY2 10.1, Avg(Fins Over Sct 19.22 + Fins Svcs Sct 16.48), FTSE250 18.45) = 14

14 * FY1 EPS 117.81 = 1663

Exact same as Berenberg - although they probably used a horribly complicated model ;)

ATB LM

[luckymouse] 02/9/2014 19:29

I concur with Berenberg Bank

Avg PE (latest 12, FY1 11.6, FY2 10.1, Sector 19.3, FTSE Actuaries 19) = 14.4

14.4 * FY1 EPS 117.81 (9 Bkr consensus) = 1696

Even if you assume a £1 discount its well under valued

[mechanical trader] 02/9/2014 16:15

CBG Close Brothers, P/E of 16.9 falls to 11.3 2015, PEG of 0.68. Looks rather cheap.

[mechanical trader] 02/9/2014 16:12

CBG Close Brothers

Broker Recommendationd looking bullish....

Date Broker Recommendation Price Old target price New target price Notes
02 Sep Berenberg Buy 1,365.00 1,640.00 1,665.00 Reiterates
24 Jul Canaccord Genuity Buy 1,365.00 1,800.00 1,800.00 Reiterates
24 Jul Numis Hold 1,365.00 1,325.00 1,325.00 Reiterates
05 Jun Liberum Capital Buy 1,365.00 - 1,498.00 Initiates/Starts
27 May JP Morgan Cazenove Overweight 1,365.00 1,512.00 1,512.00 Retains

[woodcutter] 02/9/2014 10:02

inverse head and shours neckline now broken. needs to stay above 1345pish to retain uptrend.

aimho woody


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[emeraldzebra] 01/9/2014 08:32

vm agree with Luckymouse...the p/e seems v undemanding.

[woodcutter] 29/8/2014 11:36

looks like we might have a breakout

[luckymouse] 26/8/2014 18:59

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[luckymouse] 26/8/2014 14:30

FTSE250 Feb-Aug Bull flag broke up today (looks bullish)
FTSE350 Fin Svcs is testing resistance today (could go either way)
CGB.L Major rising spt at 1250 tested & respected 3 times - looks solid. TA similar to FT250 - ie a bull flag that broke up at 1291 - taking out minor resistance at 1300 & last trend high at 1319 confirms

Whether it retests 1270 or just runs depends on mkt sentiment & geopoliticals

Within 5% of its 3yr %oversold boundary
Fundamentals look good
Bkr consensus looks a bit under - possibly by as much 50p-100p

DYOR as usual
ATB LM