Mitie Share Discussion Threads

[bones] 21/11/2016 13:16

I notice the dividend has not been reduced by much. Now only covered by 1.6 x.

Is it sensible to pay cash out in dividends when the business is sucking at air?

[fidra] 21/11/2016 12:52

All as I said in post 302 March last year.

Ruby has shown herself to be looking after Ruby not Mitie.

Another huge write off under her stewardship and more to come.On top of the Engineering debacle which was made worse by the way they ran it down.Shame they did not take away all the money made by the directors from their share options in these business before they got bought out for ridiculous sums by Mitie. Agreed by the board members who had shares in them!

Sill their silence was bought by there family members taking part in the same scam in other Mitie business'

Hope the baroness has her title removed.

Absolute disaster and has left the new guy with not a lot of options.Or rather a fistful of them in Mitie shares!As per the usual .

The share buy back scheme looks now what it always was ....a share prop up scheme.

DYOR

[bones] 21/11/2016 08:13

Ugly numbers and an expected impairment binge. This won't be the last but I will revisit another time. Market still giving company benefit of doubt but can't see this positivity continuing next year.Closed my short for 35 points profit this morning at 170p.

[armunro] 16/11/2016 19:00

I had these a while back. Problem for me is its difficult to value the company because it has its finger in so many pies. Outsourcing generally means getting someone to do something cheaper than you could do it yourself, and that means slim margins and profits, and again difficult to value if there are loads of contracts. Just my opinion.

[bones] 16/11/2016 12:18

EssentialInvestor - I agree. Ahead of the results, this seems an ideal short bet, so I have a small one in place in case of a gap down Monday. If results are bad, maybe add more at the lower price.

[philanderer] 16/11/2016 11:32

Mitie slumps on RBC Capital downgrade

[brain smiley] 16/11/2016 08:58

RBC Capital have downgraded price target to 160 fron 198.

[philanderer] 16/11/2016 08:57

RBC downgrading to 'underperform'.... tp cut from 195p to 160p

[bones] 16/11/2016 08:54

Perhaps market thinking about what will be in next week's update? Down 7% this morning.

[cwa1] 10/10/2016 08:20

Think that's fair comment Bones. Taken the opportunity of culling the ones I bought lower down at a whisker over £2 in the expectation there will be a huge kitchen sink job at the first opportunity for the new gaffer. Happy to have made a small crust here and consider myself lucky. Will definitely look back in after the first post new boss results, as I think there is definitely a decent business in there waiting to get out!

[bones] 10/10/2016 07:56

New CEO may imply a kitchen sink job to come which is not unusual in such a new tenure? Clear outs, impairments and write offs to get back on an even keel and junk the deadwood are often the hallmark of new leadership. The market may even approve longer term...

[stonefold] 07/10/2016 13:51

Yes all swings and round-abouts. Thankfully CAD is having a better day.

[bones] 07/10/2016 13:47

Stonefold, these "funds" are probably balancing out their holdings as they go along to keep to benchmarks and limits. Buy a few, sell a few...

[stonefold] 04/10/2016 18:32

Chancellor Philip Hammond has suggested the government will boost spending in the UK, through increased borrowing.

[bones] 04/10/2016 17:43

Today all boats rose with the FTSE tide! Yet supposedly due to the sterling weakness effect with so many FTSE members with overseas earnings. Not sure that is of much use to MTO and others with mostly UK based customers?

[stonefold] 04/10/2016 15:07

Government policy softening raises growth prospects?

[mike24] 04/10/2016 12:38

time to take profits?
markets could still get choppy
sp recovered to within just 25p of july lows
gold goes over the cliff, in the blink of the eye
nai

[gostevie63] 30/9/2016 09:58

Dipped my toe in the water this morning with a small purchase at 189.3p inc. costs.

I'm hoping that all the bad news is now in the price and the dividend won't be cut.

[bones] 29/9/2016 23:57

Not sure about MTO being oversold if the whole sector is struggling but granted a short term dead cat bounce may have occurred. I have gone short MER as it is hard to see how that one escapes the problems faced by MTO and CPI.

[stonefold] 29/9/2016 15:53

Capita’s profit warning confirms that it is not just Mitie that has found business conditions tough this year.
This could lead to a revision of opinion that the sector as a whole may for a while have a battle on its hands, and that Mitie was unfairly judged on the 19th, and is as a consequence oversold.

[stonefold] 28/9/2016 17:53

Meanwhile another short position is reducing:

Artemis Investment Management LLP

From
0.52 % 2016-08-23

To
0.42 % 2016-09-26

[grabster] 28/9/2016 14:06

The regulation changes that are causing them such difficulty were ceertainly known at that time. If they failed to calculate how it might affect the company's prospects, that does not say much about their judgment and certainly casts doubt on their forecasting abilities

[bones] 28/9/2016 12:04

Previous statement in May was far too rosy. Are you telling me the issues that tumbled out in September were not in anyway considered or known about in May, not even a hint? Suddenly it will cost £10m to fix them. Typically first profit warnings under-estimate the true cost and to say all will be well in the second half is stretching credibility a bit.Brexit cannot be blamed for all of the ills of the world.