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ECM Electrocomponents Plc

1,047.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Electrocomponents Plc LSE:ECM London Ordinary Share GB0003096442 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,047.00 1,043.00 1,045.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Electrocomponents Share Discussion Threads

Showing 951 to 973 of 1725 messages
Chat Pages: Latest  45  44  43  42  41  40  39  38  37  36  35  34  Older
DateSubjectAuthorDiscuss
27/6/2008
08:30
Sentiment now returning to ECM from PFL. Both
warrant better SP's, especially ECM!!

With the large increase in computer, Digital TV,
electronic gizmos; this business is more likely
to withstand the current economic storms than most.
The younger generation live electronics and they are
the driving force behind electronic inovation!!

highlander2
26/6/2008
12:10
On a side note, have any of you looked at ZRX before?

Totally different business & market but I think similarly undervalued.

studhaves
26/6/2008
12:06
The Pru have almost 10% now - I wonder if they're buying for themselves or someone else?
studhaves
26/6/2008
10:45
On the 250 upside, Electrocomponents rose 2-1/4 at 145 after Seymour Pierce upped its rating to 'buy' from 'hold', on valuation following recent share price weakness

26-Jun-08 Electrocomponents ECM Seymour Pierce Buy 145.75p 180.00p - Upgrade

tole
26/6/2008
10:13
The Pru thinks so too!! They have just increased their
interest in ECM.

highlander2
26/6/2008
09:25
These look very good, see them hitting 180-200p within 2 months.
bought for divi but they are so undervalued Im keeping hold of them..
DYOR

mrsail
25/6/2008
13:29
Ballance sheet. PFL ECM

Fixed Assets 55.20 114.90
Intangibles 51.20 188.60
Fixed Investments 53.60 18.00

Stock 154.50 161.10
Debtors 121.20 174.30
Cash & Securities 37.60 28.40

TOTAL 473.30 685.30

Creditors short 109.50 168.30
Creditors long 343.70 235.20

TOTAL 453.20 403.60

EQUITY 20.10 281.80


With these figures the price difference is a
nonsense. Either someone is using insider info
or the price is being deliberately manipulated.

We will find out over the next few weeks!!!!

highlander2
25/6/2008
12:07
thought the XD was further down the line - that in part assuages my fears - thanks
rochdale
25/6/2008
10:58
Looking at the share price of these & PFL;

ECM are on a PE of around 9.5, PFL on 19 !!

What can we infer from that? They do the same thing, in the same industries, etc, etc, except ECM are the market leader with greater turnover & profitability!

If we were to apply the same PE ratio to ECM, then you'd get a share price of 279.

If we decided that PFL were over valued (& I dont think they are) & ECM undervalued & moved the 2 PEs to meet in the middle at 14.5, you'd get a share price of 213.

If we applied the 9.5 PE to Farnell, they'd be at about 95p - clearly too low.

So what do you think? Using the numbers & ratios above ECM must be undervalued by a significant margin - they should perhaps be at twice the price, but probably at least 50% higher.

Any thoughts?

studhaves
25/6/2008
10:51
To expnad on jhan66 - they went ex dividend today for 12.6p - the share price therefore dropped by 12.6p.

I see though that PFL continue to fly.

studhaves
25/6/2008
10:26
this fall is huge - lost for an explanation - maybe problems in the pipeline that we are unaware of
rochdale
24/6/2008
20:13
jc, I used to work for PFL in field sales, so I was customer facing, & we just couldn't shake RS (the brand under ECM) out of customers, they are definitely the brand leader. The traditional sales chanel is via a catalogue, or rather catalogues, although RS also have trade counters, something we used to feel helped them tremendously. Both companies are now seeing tremendous growth of internet based ordering.

The business model for both ECM & PFL is identical - there are 100,000+ products, all held in stock. The customer builds his order from the catalogue/internet, places it by phone/the net, & his goods arrive tommorrow morning, carraige free.

The advantage for the customer is the "one stop shop"/ convenience of using them, but they pay a big premium on price for it - have a look at things on the site like tools, screws, anything really & compare the price to a specialist distributor/stockist. This why they are so profitable & have good cash generation. Fortunately accountants tend to run companies these days, & they justify the extra cost of the product by the reduced number of purchase orders, etc, which cost £100+ each (supposedly, depending on the company) - so ordering 10 items priced at 50% more than elsewhere is better to an accountant than buying them at a lower cost from 10 different places, each with its own purchase order costing £100 a time.

I don't think a slowdown in any one country will hurt them much, they are global suppliers & are seeing the biggest growth from newer (to them) markets - the US, India, China, etc - so they have a lot to go at, & these countries, even the US, do not have such a service orientated electronics/industrial supplier to compete with them.

studhaves
24/6/2008
19:35
jc - extract from the final results may give you some insight into the
future asperations of ECM. Must be progressive!!


Exploit the full potential of e-Commerce
Although the catalogue remains an important channel for our customers, e-commerce
represents an opportunity to fundamentally enhance
many aspects of our business model. Rapid growth of this channel has taken e-commerce sales to
33% of Group revenue. e-commerce enables the
Group to more rapidly introduce new products, as it reduces the constraint of the traditional
annual catalogue publication cycle. It enables
the Group to offer a wider product range than is practical in a paper catalogue; an ability
that has already been successfully exploited by
selling the Group's US and Japanese extended ranges to UK and European customers.

Customers are being encouraged to switch to e-commerce and as a result our ability to
reduce off-line costs is increasing. In addition,
e-commerce is helping the Group form deeper relationships with key suppliers, for example by
embedding supplier-generated content in the
Group's site and providing links from supplier sites.

highlander2
24/6/2008
18:25
Thanks Studhaves for the website

Yeah I am not convinced why this has dropped. I think it is speculation that if the economy does enter recession etc I suppose some are betting this will suffer? Other then their website they sell through other more tradtitional methods I believe - read somewhere that catalogues etc part of their marketing? Maybe wrong. Seems ok but bit old fashioned?...would think interent is the way forward - costs and everything.

Have not studied this enough but if any opinions on how forward looking they are would be appreciated. Massive revenue so must be doingsomething right. Google search tools and their website didn't come up. Maybe a different search would be better?

jimmycarter
24/6/2008
14:04
I don't know if these are shorted much since ADVFN don't supply crest data anymore, but you'd have thought anyone shorting would shut it today otherwise they'll have to pay the dividend, which is of course quite chunky?
studhaves
24/6/2008
10:02
plus some commitments to future dividends in the accounts....

CAPITAL STRUCTURE AND DIVIDEND
2008 dividends maintained at 18.4p in line with the previous commitment.
2009 dividends to remain at 18.4p comprising an ordinary dividend of 11.0p and a special dividend of 7.4p.
Progressive ordinary dividend policy to be pursued at earnings pay out ratio of 65%.

I bought yesterday. A day early judging by today's movements but hopefully not six months too early

jhan66
24/6/2008
09:33
We are now approaching the critical stage in the
XD saga. The dealers have until 16.00hrs to buy
for the juicy divi!! (It is today???)

If, as some posters are implying, the business
mix is in trouble; why is PFL not in the same plight?
Merely stating that PFL is better placed is not
a reason. They have a way to go to catch up with ECM's
sales and profit.

Regarding the payment of the large divi; this has been
paid over the last three years without the cash flow
suffering.

Remember that a loss is only realised when you sell.

Good luck

highlander2
24/6/2008
00:51
rswww.com (yes, it really is that) is the major part of their business. Compare to www.farnell.com
studhaves
23/6/2008
21:15
I am not sure quite why this is so low? I can only think it is a widespread doom and gloom thing. Does anyone have any info on thier selling website(s?). Any links?
jimmycarter
23/6/2008
14:41
Okay, theres definitely something fishy going on here. Theres been a lot more buy orders than sells virtually all day long, ranging from between 1.5:1 to 2:1 & the price has gone DOWN.

I am certain that the price is being held back. I think money is tight & the MMs are mopping up stock on the cheap to reap the dividend, & will then launch the share price upwards to make a killing there too once its gone ex-divi.

I will be gobsmacked if this falls further & doesn't start to go upwards.

I'm already gobsmacked that they can get away with it.

Unless I'm wrong & it keeps falling. Time will tell, tick tock, tick tock...

studhaves
23/6/2008
12:22
Looking at level2 it seems to have swung from a lot more sellers to a lot more buyers.

Currently 29 v 23 & 275K v 151K

Has been the other way around almost all morning, in fact for the last few days there hasn't been much in the way of buyers.

studhaves
23/6/2008
09:37
The manipulators/Bears are working this stock
down because they know that holders are not going
to sell this close to the XD date. As a previous
poster pointed out - this stock share price goes down
prior to the XD date and rises back up after.

Also using PFL as the stick to beat ECM. No
reason for the two sp's to be so far apart.

Wed 25th XD date - I presume!! Lets see what
happens next!!

highlander2
20/6/2008
14:54
Its especially strange that while ECMs share price is languishing, PFLs share price, who are in exactly the same business, selling exactly the same products, to exactly the same customers, in exactly the same markets, is doing really well.

Very odd.

studhaves
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