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Interquest Share Discussion Threads
Showing 601 to 625 of 625 messages
|Just noticed that Sharescope and Stockopedia have updated their broker forecasts, so we now have FYE 31.12.2016 Rev 150 PTP 3.32 EPS 6.90, FYE 31.12.2017 Rev 176 PTP 3.70 EPS 7.60, FYE 31.12.2018 Rev 189 PT 3.70 EPS 9.62.
Best to ignore FYE 2018 for now and wait for the trading statement in March and if we are trading in line with managements expectations then this is clearly good value and should hopefully prompt the next leg up in the share price.|
|saf, All fine thanks. UPL :)
Best of luck to you too.|
|Hope everything is good with you Kemche..
Still holding everything as i tend to do.. December for me, generally tends to be more of a buying time and around the beginning of the year.. I tend to see stocks shooting upwards..
So with advent of Trump.. whether peeps like him or not.. I'm expecting a blue start next year.. (I'm certainly no Trump fan..)..
Best of luck with all your investments..
|saf, we must stop bumping into each other so regularly :)|
|@ these levels.. i certainly think its worth a dabble here..
With Jim M buying a few.. a bit of initial blind buying.. however there could be a sustained rise from here ..
|From the T/S last week;
"Looking forward the underlying technology markets that the Company serves should deliver structural growth in the medium to long term. As a result of taking action, InterQuest has seen an improvement in profitability since August and the acquisition of RDW, a permanent search business, in August 2016 has immediately contributed to profits and generated cross selling opportunities.
The Company has seen an improvement in average permanent fees and margins on professional contractors have also increased since 2015. The Company's Recruitment Solutions business has added one further managed service client and remains robust.
Gary Ashworth, Non-Executive Chairman commented:
"I am pleased with the progress that the new management team has made in restructuring underperforming divisions of the Company but acknowledge the challenges the business has faced this year. We continue to focus on building InterQuest to be the market leading "digital transformation" recruitment business."|
|Hold for 50p minimum.
Immigrants are pouring in here now, and will for the next two years! Until we finally leave the Eurozone.
We need skilled IT staff as never before and this company is going to clean up.
BUY for me.|
|Could we be in play? Cheap morsel for someone looking for a bolt-on for in a high growth industry sector which ITQ serves.|
|Some institutional buying coming in from the recovery funds, namely Helium and River & Mercantile crossing the 5% thresholds, although as I write the first of the sells are coming in which is not surprising bearing in mind we are currently at the 40p mark - round numbers always act at profit targets for some. The institutional funds wont have bought in with a 40p profit target so I would expect some more selling around the 40p mark from private investors before this starts rising again, with the next barrier being 50p and some more substancial selling.
Even at 50p the valuation is still attractive - I am guessing EPS of 8p for FY 2017 although it isnt much more than a back of the envelope estimation from me - we will find out more in the March 2017 trading update.|
|We'll see. Leave me to it now ta.|
|Miles down to 23.6p, anyway!|
|Nice 10% rise on the day for starters.
Miles to go here.|
|I thought there might be some value here after the latest price fall, so have updated my valuation model. I set a target PE ratio of 7, to allow for the recent record of underdelivery and the very questionable management competence. After adjusting for excess cash, debt, in-the money options and tax (but not for the RDW acquisition), I get a target price of 23.6p.
Hence I'm staying well out.|
|The adverse cash flow in the last set of interims was mainly due to a big increase in trade receivables. To the extent that this reverts to a more normal level, there will be a corresponding cash inflow in due course.
The concern is that the interims don't give any indication as to why this line item has reached an historical peak; is there is a risk that there will be an issue with collecting all of those receivables?|
|The Shuffle Man - I'm mildly concerned, which is why I'll wait for FY to get a clearer picture. The indication from interims was not positive:
-- Net cash used in operating activities GBP2.9m (2015: net cash generated GBP2.8m)
-- Net debt, consisting of our working capital facility which we use to finance fluctuations in contractor levels, and cash increased during the period to GBP9.9m (2015: GBP6.9m)
a 40% jump in debt levels, could well be a fluctuation, but it's a big one. Given instis are not buying (AFAIK) I suspect a funding round/instrument may be under discussion. The future is bright, but would be better to have cash in reserve to weather any storm.|
|Is anyone worried about the debt position which at the interims was £9.9m|
the shuffle man
|Am watching, progress on cost savings sounds good, but they run on empty in terms of cash reserves which is a concern. I suspect the profit warning with subsequent price decline may be a precursor to a fundraise, could be wrong - as they haven't highlighted cash as an issue.|
|Agreed. Restructuring should now deliver returns over the medium term. Derisory mkt cap and PSR. Strong hold or add on weakness for me.|
|Jim Mellon adding and now has 5%.
Good value here.|
|Most of it is already in the price|
|Unless there is another Profit Warning|
|Paul Scott has tipped these following todays results - he reckons they are oversold at these levels - here's an extract from his newsletter today:-
"Revised forecasts - the latest numbers coming through this morning suggest that adjusted profit will be £3.6m this year (down from £4.2m), and EPS 6.9p instead of 8.5p.
The market cap of just £11.1m looks ridiculous for a company that should make £3.6m, in a bad year.
Balance sheet - has a huge debtor book, partly funded by debt. The latest broker note suggests that cash generation is good at the moment - debt tends to unwind at companies like this, as business contracts. So they're saying £7.0m net debt at year end. Overall the last balance sheet looked OK to me.
My opinion - fishing for bargains at bombed out companies which have warned on profits, can often be a depressing, and unprofitable activity.
However, at this level, I think ITQ is probably at or near the lows. It's finances look alright, and the PER is now dirt cheap. Plus it's paying a divi, and even if that is reduced, is still a nice bonus.
Recruitment in the IT sector seems an activity that's not going away. Personally I think this could be a nice little recovery trade from the current price, with a target of maybe 50p - which would still only be a PER of about 7-8 times the revised forecasts put out today. Yet that would be a 67% gain from today's price. I think that's quite a good punt."|
|Panmure Gordon is their broker. I expected nothing less from PG.|