Share Name Share Symbol Market Type Share ISIN Share Description
Character Grp. LSE:CCT London Ordinary Share GB0008976119 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00p -0.98% 507.50p 505.00p 510.00p 512.50p 507.50p 512.50p 9,001 14:00:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 121.0 13.1 50.3 10.1 107.30

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Character Grp. (CCT) Discussions and Chat

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Date Time Title Posts
19/9/201708:21A stock on a eps of one?12,937
09/6/201617:10character group2
05/11/201014:42Character-Robosapien a Big Seller ?1,549
08/6/200710:35SHORTING & DISTORTING-

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Character Grp. Daily Update: Character Grp. is listed in the Media sector of the London Stock Exchange with ticker CCT. The last closing price for Character Grp. was 512.50p.
Character Grp. has a 4 week average price of 467.50p and a 12 week average price of 450p.
The 1 year high share price is 550p while the 1 year low share price is currently 420p.
There are currently 21,143,352 shares in issue and the average daily traded volume is 45,823 shares. The market capitalisation of Character Grp. is £107,302,511.40.
dan_the_epic: Superb and very exciting. Easily can become a core brand - would expect the share price to be up materially on this.
dan_the_epic: Special does increase in likelihood if: A) the results are in line with expectations with a muted outlook and so nothing to drive the price and liquidity higher to enable the buyback to properly take off, B) they can't find anything to buy, whether that be attractive licences (unlikely to be big enough) or another company. Does look increasingly likely, I would say. Again, that's the beauty of lowly rated companies trading well - there are many possible levers to provide share price upside.
mcartdon: share price is lower than three years ago on average this year look at 18 years virtually no change in t/o since 1999 99m then operating profit 10.6m cash 9m so what have they been doing for 17 years why should it change
dan_the_epic: The buybacks are limited by regulations about quantities vs. liquidity. They did some when liquidity allowed (2015), but that has tailed off again. I personally wouldn't say a near 4.5% rebased dividend is a low percentage return, though would agree that I wouldn't buy here if I solely was after a dividend (after accounting for the spread, it's not worth it). I think growth kickstarts on from here. Look, I totally agree, and in that article admit that holding a large cash balance doesn't look great, but at the same time, I'm not going to penalise them for having a very cash generative model. There are a multitude of things they could do with that cash, and barring some bizarre decision, it's hard to see that it wouldn't enhance the share price. A special dividend, a la Avesco, wouldn't be a bad idea. This valuation is crazy for the value on offer. Run any basic DCF on this and the intrinsic value here is hugely different to the current price. Reckon the first leg of that was realised in 2015, but expectations and metrics have rebased again and catalysts for a rerating are back in play. Time will tell. In reality, if any suitor did swoop on Character (and I'm definitely not saying that there is one), I'd have thought they'd have to play a pretty hefty premium on this (north of 40%).
mcartdon: there really have been no buybacks for 5 years now that is a myth the number of shares has remained the same out of treasury, so no gain for ordinary shareholders they have just bought the free shares for directors etc. the dividend has a low percentage return for the share price, the cash is wasted where is it deposited (they have no bank income). and they dont borrow much. so they arnt saving on borrowing. they have not deposited it sensibly in euros or dollars? so where is it it funds the cycle of stock but no sign of that growing the buisness
h1a3: Hi Fido, The Share price recently has been rather subdued and when I saw these buys, I wondered if it is CCT buying them? It will be good to know and if it CCT then we should hear soon.
mcartdon: If you look back historically they were turning over 100 m many years ago 1999, the cycle of growth and collapse is going nowhere.this is the growth i refer to. the dividend is 2.7% inflation is 2% and rising rapidly. a real return is in order of 5-7% with dividend and share price. over the last two years shareholders have received no share growth a low return on dividend with respect to earnings. the shares are 98m less 18 m cash 80 m in prudential bond made 5-6% last year returned to owner. why take the risk for 2.7% nullified by share stagnation
mcartdon: Why do they hold 18m in cash? through a low interest rate period? it earnt very little. why not borrow 18m and buy earnings in solid expansion of its range with a business enhancing merger. Then use the income to pay off the debt over 4 years. Better than buying directors free shares to maintain the same number in circulation over 4 years while pretending this is share price enhancing for shareholders. The dividend is failing to cover inflation with no growth. they had better think of something or loose investors and partners interest.
h1a3: Hi All, Today, Investors Chronicle are stating: Buy the Buyback King Character. Their comments are: Anyone with children or grandchildren will know the powerful pull the likes of Peppa Pig, Teletubbies and Fireman Sam have on young folk. Toy wholesaler Character (CCT) licenses these brands and many more. The business, based in New Malden, is awarded licences to develop toy ranges based on children's TV and film characters. The manufacture of the toys is outsourced to a company in China, meaning Character's capital investment costs are kept low and its main competencies are focused on in-house design and development. Manufacturing in China also means much of the company's purchasing costs are in dollars, which has posed an issue due to the pound's post-referendum slump. While the shares have fallen since the vote for Brexit, management hedges its currency exposure, which should help. Also, the group's success at boosting overseas sales should act as a natural currency hedge - US sales rose to 24 per cent of the total in the first half, up from 17 per cent for the same period in 2015. Character's reliance on licences means its relationships with intellectual property owners are key. It has a good track record on this front, having had the licence for star character Peppa Pig for 12 years. Other encouraging recent developments include its appointment by DHX as global master toy partner for Teletubbies and appointment by Hasbro for the iconic Stretch Armstrong brand. Conditions in the international toy market currently look buoyant following 7 per cent growth in 2015. That said, the market is very sensitive to the general state of the economy. This cyclicality, coupled with Character's dependence on licences, rather than company-owned brands, creates inherent uncertainty, which helps explain Character's shares' lowly rating of just nine times forecast earnings. However, we think that rating looks too low. What's more, so does the company - it has a huge appetite for its own shares. Last financial year alone it spent £6m buying back 11.2 per cent of its shares, and over the past 10 years buybacks have reduced the number of shares in issue by almost three-fifths. The company has also recently announced it has authorisation to spend up to £5m on up to 3.1m shares, or 15 per cent of those in issue, until 20 January next year, which could allow it to take advantage of the post-referendum share-price fall. Importantly, strong cash conversion means it has been able to substantially reduce the number of shares in issue - thus driving up earnings per share (EPS) - while also pursuing a progressive dividend policy. Indeed, the company reported a £10.3m year-on-year rise in net cash at the half-year stage and hiked the interim dividend by two-fifths. The increased payout was still 4.7 times covered by earnings. CHARACTER (CCT) ORD PRICE: 455p MARKET VALUE: £96m TOUCH: 445-465 12M HIGH / LOW: 572p 425p FORWARD DIVIDEND YIELD: 3.6% FORWARD PE RATIO: 9 NET ASSET VALUE: 101p NET CASH: £14.5m Year to 31 Aug Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2013 67 0.2 0.7 6.6 2014 98 7.1 27.7 7.3 2015 99 12.3 48.6 11.0 2016* 111 12.6 49.1 15.0 2017* 121 13.6 53.1 16.5 % change +9 +8 +8 +10 Normal market size: 2,000 Matched bargain trading Beta: 0.02 *Allenby Capital forecasts, adjusted PTP and EPS figures The IC view is: The group's top management have been with the business for a long time and have dealt well with past fluctuations in consumer sentiment and swift changes in its young clientele's fickle tastes. We think the shares' rating looks too low and that buybacks make good sense at this level. The well-covered dividend is also an attraction. Buy.
h1a3: I think the MM's have been keeping the share price down to facilitate today's 3 very big buys of circa 450K. I am expecting CCT to be issuing a RNS tomorrow and if that happens, I would expect the share price to rise.
Character Grp. share price data is direct from the London Stock Exchange
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