Entertainment One Share Discussion Threads

[raffles the gentleman thug] 20/9/2016 13:25

I really don't know - but from recollection last year they gave revenue growth, some divisional guidance, confirmed things were on track and gave us the appraisal of the content library.

This year might well be different. Dollar strength and the fact that the business seems to be performing very well, might well allow them to be more constructive on guidance

[farmai] 20/9/2016 11:37

Just wondered whether any of you posters had any strong opinions on ETO upcoming trading statement ?

Whether it'll be a bland on track statement, or will they be giving firmer guidance ??

[raffles the gentleman thug] 19/9/2016 15:52

... and that volume does need to be put in the context of the fact that the true free float of the company is probably at most 50% of the 427m outstanding shares

[owenski] 19/9/2016 15:37

Indeed, two days of above average volume and coming up off the 200 support, looks like a good buy point to me.

[raffles the gentleman thug] 19/9/2016 15:35

Shaping up to be the second really big volume day on the trot - 6m traded Friday and already nearly 3m today ...

[1gw] 19/9/2016 14:32

You also have the bonus and LTIP to take into account, both of which align Throop's interests with shareholders:

Bonus (up to 100% base salary): bonus performance condition is Group adjusted profit before tax

LTIP: (annually 125% of base salary for CEO, 100% of base salary for CFO): performance criteria are 33% adjusted fully diluted EPS growth, 34% TSR growth, 33% Average ROCE

If you look at page 76 of the annual report you can see the details of the criteria for LTIP: e.g. adjusted EPS criteria pays out at 30% for 10% pa growth (April 15 to March 18), 100% for 15% pa growth (and 0% for less than 10% pa); TSR is measured against the FTSE 250 (excl. investment trusts) paying out at 30% for median performance and 100% for upper quartile performance (and 0% for below median performance).

[masurenguy] 19/9/2016 14:02

"foxeye2 - 1936: As long as that hefty cheque continues to be deposited each month, I doubt they give two hoots about the share price or investors like you or I."

A foolish comment. Throop & Willets are both on salaries of circa £500k plus performance related bonuses. Darren Throop has a shareholding worth circa £20m at todays price so the value of his stake in the company is far more significant to him than his annual compensation.

[raffles the gentleman thug] 19/9/2016 13:51

Thats a bit harsh foxeye2 - he does own 2.3% of the share capital and therefore has an interest in the long term development of the share price. And as a company they probably provide far more disclosure, and effort in communicating with shareholders than many others.

In my opinion the rejection of ITV's offer demonstrated that Throop and the Board of Directors very much cared about shareholders interests.

[foxeye2] 19/9/2016 13:41

Salpara.

You state, 'Management are now under some pressure to see the share price return to over 236p asap.' I should imagine that Darren Throop and his fellow BOD's care little about the share price, so long as they continue to receive their considerable remuneration each month.

As long as that hefty cheque continues to be deposited each month, I doubt they give two hoots about the share price or investors like you or I.

[amoore70] 19/9/2016 13:12

Must admit I am tempted to add more at these levels.

[tini5] 19/9/2016 08:50

And that's why I'll be adding this week. These prices are seriously discounted at this level.

[salpara111] 19/9/2016 08:47

Unless you are on a very short investment time horizon I cant understand why you would sell a few weeks before what will surely be a critical market update.
I guess some hot money flowed into the stock after the initial ITV approach expecting a deal to be done above 255p.
I added a few more last week and will add again assuming the upcoming update is as bullish as it should be.
Management are now under some pressure to see the share price return to over 236p asap.

[tini5] 16/9/2016 17:57

EOne’s Seville Intl. Acquires ‘Advantages of Traveling by Train'

variety.com/2016/film/festivals/eone-seville-intl-advantages-of-travelling-by-train-1201862290/

[raffles the gentleman thug] 16/9/2016 16:41

BIG volume day today - 6.6m shares traded - biggest day I can remember for a long while with 4.5m shares crossed at close. Looks like someone has got their business done and its out of the way - thats probably near 2 - 2.5% of the free float gone thru today

[rivaldo] 16/9/2016 11:46

This news not posted before - further Peppa expansion and PJ Masks licensing launch in the UK:



Extract:

"eOne Family Hires Head of U.K. Licensing

LONDON: Entertainment One (eOne) has appointed Katie Rollings as the head of U.K. licensing for eOne Family and eOne Licensing, effective tomorrow."

"Carley commented: “Rollings is a highly respected industry veteran with a strong track record of driving commercial success for some of the U.K.’s biggest preschool brands. Her passion, expertise and creativity will help us to both take Peppa Pig to even greater heights here in the U.K. and oversee the launch and build of the much anticipated PJ Masks U.K. licensing program."

[tini5] 15/9/2016 15:57

Actually hoping it holds this level for the next week so I can wait for further gains on TCM. I can then cash out and follow suit on the double down lol

[raffles the gentleman thug] 15/9/2016 15:15

Thank you gleach23 ... for the record i did buy some between the bid being announced and the highs around 250, which was a bit of a trading strategy based upon what i considered to be a favourable risk reward. Much of those shares were bought and sold for marginal benefit. I then switched part of an ITV holding (205) into ETO (207-215) after the bid collapsed.

Since then I have pretty much doubled down on my entire holding this week on the basis it is now broadly the same level as the shares were trading pre-bid and I believe the fundamentals remain sound and the valuation attractive and the currency supportive.

[spoole5] 15/9/2016 14:28

Be 180 by then!

[raffles the gentleman thug] 15/9/2016 14:24

No ... no typo - I owned beforehand, pre the bid, and then during the bid period etc but then started buying a lot more this week from 207 down to 200, and planning to continue should we see more weakness.

Spoke too Patrick Yau at the company today who confirmed they will not release the trading update before the AGM

[gleach23] 15/9/2016 14:19

raffles - is that a typo? don't you mean 257 the whole way down?

[raffles the gentleman thug] 15/9/2016 13:56

In case anyone is interested ETO's trading update is due to be released on 30 September, coinciding with the date of the AGM

[raffles the gentleman thug] 15/9/2016 09:28

fully understand that tini5 and I am with you and been buying from 207 the whole way down and indeed still buying again this morning. For me I see it as a great opportunity given its now 15% below the 236p bid, and an even greater discount to the level ITV was no doubt prepared to pay between this and the mythical 300p level. Fundamentals are sound and nothing I can see to worry about.

Sadly its a easy call for lightweight trolls to try to talk down the share price of comparatively illiquid small cap stocks, with their mundane one-liner comments, when bond markets are imploding. But in my experience they normally go into hiding when conditions normalise ...

[tini5] 15/9/2016 09:14

Fair point raffles, I must confess I don't really get involved in bonds, gilts and those sort of things. Whatever the reason for the fall, my point was that the value is still there in eOne and fundamentally if you're a value investor, very little is unchanged.