Pendragon Share Discussion Threads

[anony mous] 24/2/2015 07:32

Sold all mine yest.Way tooooo slow here.

[1nf3rn0] 17/2/2015 15:10

I quite like the look of CAMB but the spread is huge.... and it's an AIM stock, yuk! Had too many bad experiences over the years with AIM.

[flyfisher] 17/2/2015 14:25

Same here guys, I switched into VTU this morning.

PDG had a good run up from the trading update to the final results. VTU has a later year end and is set to have a trading update in early march, with results in june.
With the sector remaining busy i am optimistic for a descent trading update from vtu and hope for a rise into results.

[mortimer7] 17/2/2015 14:06

JAF, coincidentally, I've also sold PDG & retain CAMB & VTU holdings.
Looking forward to their half & year end results after 28 Feb.

[jaf111] 17/2/2015 13:23

Agreed Mortimer.....Results are fine but i think there are better opportunities in the sector....so have sold all my PDG and have increased my holdings in CAMB and VTU. Fingers crossed!

[mortimer7] 17/2/2015 11:59

Excellent trading results and progressing well.
My main concern which I feel may hamper a share price rerate is the balance sheet is still recovering from the tough times, specifically:
Current liabilities at £946m remain higher than current assets £897m and the Goodwill figure is about 50% of fixed assets, £365m.
Good news on the divi though.

[1nf3rn0] 17/2/2015 08:38

Which is the kind of dividend you expect from a ftse 100 heavyweight, bodes well for a re-rating of the share price. Could easily see 50p.

[jaf111] 17/2/2015 08:33

If PDG plan to double interim divi to 0.6p, then in all probabability next year's final div will also be higher....I would estimate 0.9p making a total of 1.5p giving a yield close on 4%.

[1nf3rn0] 17/2/2015 08:18

You might want to redo those sums germalene :) More like 3%, which is still very good in this era of extremely low interest rates.

[germalene] 17/2/2015 08:15

".....Final proposed dividend doubled to 0.6p per share. Our 2015 interim dividend is also expected to double to 0.6p per share."

If the above becomes a reality it will give PDG a yield of around 30% on this morning's start price of 39.5p

[1nf3rn0] 17/2/2015 07:15

Very encouraging results. EPS slightly above consensus, and a DOUBLING of the dividend payment! This should re-rate considerably on that alone.

I bought this share initially for capital growth (it looked undervalued), but it looks like I may end up holding it as a high yielding dividend stock! An unexpected bonus.

[jeffian] 16/2/2015 10:16

There was a small piece in yesterday's Sunday Times about Pendragon's new 'click & collect' scheme for used cars. You click on the one you're interested in and they'll get it to a dealer near you to check out. Sounds good.

[broadwood] 16/2/2015 10:04

Finals tomorrow.

[flyfisher] 06/2/2015 09:24

joe, An interesting comment from yourself about performance related pay, I hadn't noticed that.

I prefer to look at the property deals as managing the asset portfolio.

A few months ago they purchased a freehold for £10m, saving £1m in annual rent. They have recently sold a small equity holding in a portfolio of freeholds for £24m, whilst incurring £1.1m in annual rents.

On balance the balance sheet is £14m better for the transactions, whilst the rent situation is broadly similar.

[jaf111] 04/2/2015 20:00

Someone keen....1,000,000 share trade @ 36p....but is it a buy or a sell?

But then again it may just be nothing....and judging by the non-reaction it probably was!

[jeffian] 02/2/2015 14:32

Hmmm. This is looking a bit more encouraging. About time too!

[jaf111] 29/1/2015 07:59

Great point Joe Say....but I will wait until after the results before repeating my issue just in case!

[joe say] 29/1/2015 07:34

Looked again - and the interest saving isn't as good as I first thought

I reckon its £720k pa saved against lost dividend income of £1.1m (as the interest rate charged fell when debt fell beneath the 1.5x EBITDA target ratio

More worrying is that 50% of the Performance Related Pay for 2014 relates to debt reduction (never seen that as a target before) so now the RNS takes on a new light for me

[jaf111] 28/1/2015 17:39

Maybe Felix - but the announcement did say proceeds to be used for reduction of debt, so am not hopeful.....But who knows and not long to wait (17 Feb)!!

[felix99] 28/1/2015 17:31

wait for the results - they may well do that then !

Give em a chance and the time of the results is the time to announce and do these things - not ad hoc when results are so close?