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Hogg Rob. Share Discussion Threads
Showing 1676 to 1697 of 1700 messages
|positives from yesterday:
1. profit up
2. cost savings continuing to be made
3. debt to EBITDA reduced to below target range|
|spike in volume today, preliminary results tomorrow...|
|bought these last week. broken above the 200 sma and 26 sma has crossed the 50 sma. results on 24th May. Directors bough earlier in the year at around 66p. solid hold.|
|I'm really pleased with the steady progress made: increased profit, good cash flow, lower debt, lower costs and lower pension deficit. I look forward to the annual results
|Looking very strong ahead of results with 5% uptick today - could be heading towards 100p|
|Getting there after the dip to 45p after I bought them.|
|Hogg Robinson qualifies for my modified PER portfolio:
•Averaging its earnings per share over the last 7 years produces either 6.8p or 5.5p (depending on whether you accept adjustments to reported earnings – see later). With a share price of 47.1p (MCap of £152m) the cyclically adjusted PER is either 6.9 or 8.6, significantly below average.
•Its Piotroski score is 6 out of 9.
•Business prospects are OK, if pedestrian.
•Managers have plenty of experience and loyalty to the firm. No evidence of lack of integrity, even if their reputation with staff is not the best.
•Generally stable: business operations remarkably stable over the last few years in terms of activity, revenue and earnings per share; financial structure is just about OK, but has some large liabilities in the BS.
......They do far more than book flights:
•Lend their expertise and experience to reviewing client travel policies, help tighten cost controls and implement processes that maximise staff compliance with company rules, e.g. reclaiming expenses, payment processing.
•Supply an online booking platform to allow client staff to self-book. About half of HRG’s income comes through this route.
•When travel is delayed or complications arise HRG’s experienced travel consultants help and reassure, 24/7.
•Tailor-make unusual travel arrangement, e.g. oil service companies need staff in awkward corners of the world
•In North America HRG manages the redemption of credit card loyalty programmes for financial institutions.
•Large meetings and events logistics, e.g. travel services for Cardiff NATO conference last year. Now has larger NATO contract.
•The Fraedom (originally Spendvision) division provides white-label expense and data management software for corporate clients to overlay with their own logos and specific characteristics.
The business model is to collect fees from the client company, acting as their agent, rather than receiving commission from airlines, etc. They rarely act as the principal when buying travel.
Clients stick with them for a long time. I imagine that there are high switching costs for them once their staff are used to using HRG systems. Thus HRG has multiyear contracts and consistently high client retention rate.
No single client accounts for more than 3% of client revenue.
HRG staff numbers rose from 4,868 in 2013 to 5,219 in 2014 because it won the contract to provide the Canadian government with end-to-end travel and expense management solutions (travel authorisation, online booking, expense claims and payment processing).
It turns out that the Canadian government do not need the quantity of activity that HRG anticipated and so profits in 2014/15 have been hit by excessive staff, which are now being released or reassigned.
In tomorrow’s Newsletter I’ll discuss the profits history(http://newsletters.advfn.com/deepvalueshares/). That will be followed by Piotroski factor analysis. The following day I'll look at the dreaded pension deficit (not as scary as it seems at first). Another day I'll look at prospects for the business, manager quality and stability.
|That's not quite true. Forecasts are for a 20% drop in EPS compared to last year.|
|looking for holdings RNS on those trades IMVHPO|
|Bought this morning after watching for sometime. Canaccord 100p target fwiw. Good cash generation. My target 70p.|
|from buller (on LSE):
So anyone who thought the profit warning was the beginning of a slide down which caused a nearly 50% drop in share price are coming back and the price is creeping safely and surely back up. I assume the market expectations are revised after the profit warning but it was very mild warning so I think the results will be inline with last year when the share price was around 70 and in the meantime the cost base has been substantially reduced which promises well for future years. all in all steady as it goes and I can really only see the good trend over the last few weeks continue. Expect to be above 60 when it comes to results, remember the high dividends we get here|
|bid ticked up after those trades|
|2 very large trades, 1 mill and 500k - show as sells but not sure tbh....|
|Hogg Robinson Group plc, the international corporate services company, today issues its second Interim Management Statement for the year ending 31 March 2015, covering the period from 1 October 2014 to date.
Current trading and outlook
The Board continues to believe that HRG will deliver a full-year performance in line with market expectations.
For the four months to end January, revenue was 2% lower (up 2% at constant currency) versus the prior year. Client travel transaction activity was higher by 6% while client spend was unchanged (up 4% at constant currency). Overall, the Group's trading environment has remained broadly similar in the second half of the financial year to date to that seen in the first half, with conditions for our markets in North America and the UK positive overall, while markets in Continental Europe and in Asia remain generally weak.
We are pleased to have welcomed a number of new clients to our portfolio during the period while extending our existing relationships with others, including the UK Government and Novartis. Following a retender process, we have renewed and widened the scope of our contract with Volkswagen Group in Europe.
David Radcliffe, Chief Executive of Hogg Robinson Group plc, commented:
"We continue to make good progress against our strategic priorities and are confident that the actions we are taking will improve our long-term competitiveness and position us to benefit from the changes taking place in our industry. We expect market conditions to remain similar for the remainder of the year and anticipate a full-year performance in line with market expectations."|
|Oh I see what you mean - well hopefully fwd pegs of .3 & .5 and a fwd pe of 6.2 - all ridiculously good will get noticed|
|LM, 1.1m out of 324m is not really very significant I agree. I would have preferred the figure to be higher, because closing shorts, could be a great help to the share price target.|
|Hi Bamboo - cant see any meaningful shorts using two different systems so looks like just oversold on news sentiment - trendometer has switched up nicely:
Your first target similar to mine using different method so looks good|
|LM, I saw your chart over at CR and also had a look. This looks like a confrimed breakout of an ascending triangle with a target of 48.625 for starters. edit, meant symmetrical triangle
Stock on loan approx 1.1m|
|free stock charts from uk.advfn.com|
|Waking Up? Fair value MAR15 = 70p|
|These have over-corrected on the downside in the sell-off. Gotta be 40% upside in due course recursion to 200 day SMA. Quite a lot of debt. I'm reasonably happy to get paid 5% to wait|