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Fairpoint Group Share Discussion Threads
Showing 701 to 725 of 725 messages
|I agree. It looks too good to be true..so....
In all seriousness, it takes a brave person to buy that chart|
|PJI've only got a small holding which I bought at 63p after a previous share price fallThe latest move down some 8% on no news and then in the morning trading up 3.9% only to finish well down on the dayThe pe is now 4!A slow down in the housing market is well and truly priced on|
|KoP2028 Nov '16 - 18:37 - 544 of 544 0 0
You have to smile the the the MM'S (market manipulators ) behave
Well KoP202, your Market manipulators have been doing it (manipulation) for 12 months now since 180p down to 60p.
I would not call that manipulation. But you hang on in there with a smile on your face.|
|You have to smile the the the MM'S (market manipulators ) behave|
|Hoping, but not expecting, that there is some decent value at around this price level and that we might be near the bottom of the cycle. As a result I've grabbed a few. Wasn't as much stock about as I expected for a stock that seems on its knees, had to work to get the few that I went for. Fingers crossed now.|
|I posted something here (nothing new at all) but might generate a response with new info: http://www.lemonfool.co.uk/viewtopic.php?f=33&t=177|
|Me too. Pretty nasty fall|
|Still here... unfortunately.|
|Anyone still invested here, or has everyone bailed. Off another 10% today.|
|From John Rosier's Private investor’s diary on the IC website...
"...The other stock to cause damage was Fairpoint (FRP), which has nearly completed the transition from a debt servicing company to a legal services group. It fell 22.6 per cent during September, with most of the fall coming after the half-year results on the 15th. Those results led to earnings estimates for the full year being reduced by around 12 per cent. It said it expected the second half profitability to be in line with the first half’s and as well as maintaining the dividend it reassured on its commitment to paying a rising dividend in the future. On current consensus forecasts the shares are valued at 5.0 times 2016 earnings, falling to 4.7 times 2017 with a prospective 2016 dividend yield of 9.9 per cent.
Clearly the market does not believe these figures. There is a risk that 2016 earnings estimates will be reduced again if a recovery in its conveyancing business, which is dependent on UK housing turnover, fails to materialise. At current levels I think the share price reflects the disappointment from earnings downgrades this year rather than the company’s potential. Although it is difficult to see a catalyst in the short term, it will not need much good news to get the share price moving..."|
|New Equity Development note released today...
Whiplash reforms parked - HTTPS://www.equitydevelopment.co.uk/company/?company=Fairpoint+Group&c=3ADO
Press coverage this morning states that a previous source of concern over
group earnings may have gone away. This related to changes, proposed by
George Osborne in his Autumn statement last year, to reform the UK’s
compensation culture around minor motor accident injuries, specifically the
operation of whiplash claims.
These proposed reforms, which sought to ended the right to cash compensation for minor whiplash injuries have apparently been shelved. If they had been implemented they were expected to cut average motor insurance premiums by up to £50 pa.
We had previously argued that the risks to Fairpoint had been overplayed. Specifically, our 19 September update:
Noted that the implementation timetable was well behind the critical path for a scheduled April 2017 start
Reaffirmed our view that Fairpoint’s legal processing centre gave it a competitive advantage which, post reform, should put it in a position to manage the legal work generated under any new structure at low cost.
According to press reports this morning these reforms have been set aside by the government, indeed the insurance industry has concluded that they will never happen.
The Ministry of Justice confirmed that the whiplash changes are not a priority but claims reforms are “not off the agenda”. According to the insurance industry the consultation is being blocked by Whitehall due to opposition from ministers and the legal profession, and the need to prioritise government time ahead of Brexit negotiations.
This reform may be revisited at some stage.
We recently adjusted our forecasts for Fairpoint in the light of their strategic decision to focus on the growth and margin opportunities in Legal Services.
On those new forecasts the prospective yield on the shares is a remarkable
10% and the PER just 5.0x …and that is for the current year to Dec 2016.|
|Wife of the MD of Simpson Millar LLP, which was acquired by Fairpoint in June 2014, has been selling. Not the greatest amount but also not the greatest vote of confidence!
Persons Discharging Manager Responsibilities (PDMR) Notification - HTTP://www.investegate.co.uk/fairpoint-group-plc--frp-/eqs/persons-discharging-manager-responsibilities--p---/20161011102001EHJFB/
EDIT - sorry Sportbilly. You beat me to it by a minute :o)|
|Mrs Watson sold a few more shares, 25k on the 7th and just under 3k yesterday|
|did tenon go bust? is this liketenon? some of the over paid horses will leave soon enuf and sell their shares|
|I wish there were a few director buys, but I think the reason for todays rise is down to Paul Scotts comments in an interview with IG.|
|I wonder if the 71k trade is a Director purchase...new CFO started recently, might be his opening buy?|
|The market is pricing them for a life expectancy of less than 5 years - really ?
The issue is the nasty surprises they keep dumping on us . Seems the business they're in a volatile and not predictable ( soft conveyancing,personal injury new regs) . That's my main problem How can you trust any forecasts ? That's my issue . The management have little skin in the game but seem honest and competent.If I could believe them I would pile in . I'll see if they buy lots of shares themselves first.|
|As a lawyer I looked back through their acquisitions. In my book they paid a crazy price. Wafer thin profit margins for a law firm. Remember law firms are a people business and people can move.Yes its not a bad business model. Value at about 30p|
|In freefall on a strong day in the market . Is the remaining business this bad ?|
|crazily good value imo.|
|6.5% on 50k volume go figure|
|It's the future impairments that are of concern. However, now that people are selling out at a low (recently historical) share price and mentioning so on BB's then perhaps that's a buy indication ;-)|
|Even at 10p eps it's on a pe of less than 8|
|I sold out this morning. Good luck to all who continue to hold.|
|If you believe they will achieve 13.7p earnings this year then they're trading on less than 6x . Clearly the market doesn't trust/ believe this company. However, we do know that the legal business is pretty steady,has some unique value in its low cost process ability , debt will fall as IVA receipts come in and the cash generative legal business pays off the debt . As Buffett always says you make money when you buy and now seems a good time as no- one else is . I reckon it's at least 50% undervalued and we will see it rise as the debt reduces and the legal business becomes the only subsidiary.|