Hml Share Discussion Threads

[britishb] 13/9/2013 10:21

Yes, please share your AGM notes Graham.

Your points (share issues, long term share price performance) are valid but I'm thinking like this.

a) Do the shares offer value today? My opinion is yes, only 8 x earnings. That's a 12.5% earnings yield!
b) Does the cash flow match earnings? Yes, very good in recent years.
c) Are future profits/cash flow reliable? Yes, more so than most companies, albeit increased competition, regulatory stuff are possible downers. This ain't a fabulously IP protected business!
c) Were the shares issued to bail out the company and fund losses etc? No, AFAICS all for acquisitions.
d) Have the acquisitions/share issues been successful? Well that can only be a yes if earnings per share have increased. Last few years normalised eps has gone .02, .4, .71, 1.35, 1.7 and forecasts are 2.6 and 3.1. So I don't think these share issues to fund acquisitions are an issue.

We'll see what the next results are like (they've had one or two poor periods historically so no guarantees!) but if in-line or better than I'd hope for a decent re-rating here (50%+???) esp given they've now reached a size to start paying divis etc.

[graham1ty] 13/9/2013 07:24

Russman, was at the AGM yesterday. Will be writing up the meeting if u are interested. I am caught between a positive: revenue up every year, no balance sheet issues, eps strong growth...........and negative: why is the share price no higher than at float in 2006 and have all their efforts, their life's work, grown a business since 1991 ( when it was founded) to just £7.5m, despite multiple fundraisings and equity issues ( share cap has gone from 11m shares at float to 36m now)....wow.

Brilliant, cheap and under the radar.....or will never grow big or be valued highly ? Cannot decide

[russman] 12/9/2013 19:49

Bod hoping to pay a divi next year.

[xlairways] 11/7/2013 08:52

Tipped in shares magazine today, so may add some more interest

[britishb] 08/7/2013 15:33

Don't know why you felt the need to start a new thread Masurenguy but yes HMLH still looks cheap even after recent rise. As I said on old thread they've grown top line every year for a decade, and not many companies can say that. With 2.6p eps forecast this year and 3.1p the following year this looks very cheap. Belvoir on a P/E of 16 in the same biz albeit with a better looking balance sheet. A 16 P/E x 3.1p eps would give an share price of almost 50p so lots to go for still.

[masurenguy] 07/7/2013 22:24

Interesting company in a fragmented market sector with a significant repetitive income stream. Good growth in sales and profits over the past two years principally driven by synergetic acquisitions.

Attractive valuation with a trailing PER, based on an eps of 1.8p. of just under 10 and a current year PER, based on a forecast eps of 2.6p, of just under 7. However, it should be noted that this is a very illiquid stock with a daily average trading volume of just over 6,000 shares.

[britishb] 04/7/2013 14:49

Well I hoovered all I could get up to 16p. Not many sadly. Forward PE of 6 then 5 at that price and chucking off a million plus in cash flow now vs 6m market cap. Grown top line every year since float in '94. With BLV on a PE of 16 methinks this will be 30p++ in short order....

[andrbea] 20/6/2013 18:22

up 5.1%
2 buys and 1 sell today

but why buy at all with such an ugly spread?

is some good news coming perhaps?

[andrbea] 06/6/2013 11:00

seller done?

06/06/2013 09:58:53 HMLH 15.00 O 13,184
06/06/2013 09:49:36 HMLH 14.50 O 20,689
06/06/2013 08:24:17 HMLH 14.00 O 21,284
05/06/2013 16:20:02 HMLH 12.50 O 50,000

up 11% today

[cordwainer] 02/5/2013 17:30

just found this with a stock screen. However, the current spread and lack of liquidity is putting me off.

[russman] 04/3/2013 23:18

A buyer paid nearly 19p for 10k. I am surprised it did not move the spread.

[russman] 30/1/2013 17:32

Eps is forecast to increase at quite a rate.

[andrbea] 05/3/2012 13:20

still under the radar to most

up 27% today

[andrbea] 05/3/2012 11:11

has doubled since early January

[russman] 02/3/2012 17:31

Someone wakes up at 3pm repeat buys at the NMS until the bid shifts and then goes back to sleep. Not very subtle.

[mangal] 08/7/2009 12:47

Amogst the top-5 % risers of the day & no comments. Strange?

[ukinvestor220] 11/4/2009 17:48

im watching

[oakville] 24/3/2009 20:19

Never had a thread to myself..Oh well keep taking the money. Bought at 3.95p nobody listened.

[oakville] 18/3/2009 08:41

Another tick up...

[oakville] 17/3/2009 20:28

March 2009....The Bottom for this stock.....Directors starting to pick up shares at these low levels......One for the future.........

[oakville] 17/3/2009 18:51

An upturn in Directors buying at these low prices... One to watch.

[mctmct] 08/8/2008 10:50

Robust results. Directors buy at the bottom. Is anyone following these closely? Peter Temple in the FT likes them.