Cmc Markets Share Discussion Threads

[woodhawk] 10/6/2022 08:50

Yesterday's looneys seem to have gone very quiet this morning!

[exotic matter] 10/6/2022 08:47

eps was beaten by more than 10% and it went down 21%.

[exotic matter] 10/6/2022 08:46

Glad I stuck with it, riding 16K shares in all, sub 242p.

massive bear raid yesterday

[tudes100] 10/6/2022 07:43

Webcast worth listening to (particularly the Q&A) if you want a more detailed explanation of operating cost increases in FY23 - approx 20m split equally across personnel (further platform development) / marketing (for new UK non-leveraged platform) / regulatory fees (sharp increase based on 2020 Co performance, will moderate in FY24).
hxxps://webcasts.cmcmarkets.com/event/webcast.php?eventid=2362&media=flash#

[gbh2] 10/6/2022 07:20

The EPS was the warning Bell for me, prior to the opening I set up 3K to sell on a Limit price of 300p, which at the opening should have triggered but no luck. I'll hold for the dividend now.

[woodhawk] 09/6/2022 23:01

So what? It's meaningless. Second guessing trades is a mug's game.

[bookbroker] 09/6/2022 22:35

Actually 235p, read the trading data.

[woodhawk] 09/6/2022 22:30

He has no idea whether it was a 'buy' or a 'sell'... and what on earth does it matter anyway? These people are just morons.

[monet] 09/6/2022 22:07

a_2_z 1559 of 1563 don't you mean 235?

Look at the big sells.

one 120K dumped at 135p just before close/

[isis] 09/6/2022 19:06

God forbid anyone coming out with less than perfect results in this climate.

[aleman] 09/6/2022 19:05

I still can't remember the company I had shares in that had to rectify some unlawful dividend payments but Lookers had a meeting in 2019 to rectify a few years of unlawful payments that only came to light a few years after they were paid.. It seems to happen occasionally.

Lookers Deeds of Release votes - 19/7/19 to 12/8/19

[doobz] 09/6/2022 18:59

In the March update it stated it expects to hit the upper end of guidance with income of 280 mil which it has done. So really this tank must be attributed to the slashed dividend. Did they give reasons for the divi drop? Or was it just bumped too high for the extra business they did through covid. Kind of makes sense, still undervalued and todays drop overdone imo

[grahamg8] 09/6/2022 18:10

I agree drop in share price seems overdone. Topped up. At 240.5 the yield is just over 5%. Growth pencilled in at 30% over three years, I take that to mean a total of 30% ie 9%pa. Margin expansion from 2024 onward. Can they do it though? Australia seems to be going well, launch of UK share trading this year, and adding Singapore soon. As Bob the Builder would say can he fix it? yes he can! An income share with growth potential.

[a_2_z] 09/6/2022 18:10

Look at the big sells.

one 120K dumped at 135p just before close/

[bookbroker] 09/6/2022 16:56

Pretty ridiculous move today, presumably on dividend news, but difficult to understand.

[markbelluk] 09/6/2022 15:23

> Cannaccord picked up on the unlawful dividends?

First of all nothing is "unlawful". There will be no financial penalty

Secondly Cannacord have a SELL on the sector since PLUS @ 230 ish now at 1600!!

[vladimirbob] 09/6/2022 15:07

Makes sense. However, Cannaccord issued a sell note a few months ago whilst everyone else disagreed. Has anybody managed to read it? It's obvious that we've missed something, maybe Cannaccord picked up on the unlawful dividends?

[weemonkey] 09/6/2022 15:01

2019 is the relevant comparable non? That being the case we have beaten most metrics comfortably

[riverman77] 09/6/2022 14:59

You'd have thought so, but unless I missed it there was no mention of strong trading conditions post year end (April and May). Could be another factor behind today's sell off?

[ricky46] 09/6/2022 14:49

We’ve got plenty of volatility so at least we’ll be coining it in the Q1 still

[brucie5] 09/6/2022 14:29

Vlad, agreed. I have therefore followed the IC's advice and added somewhat to my modest pile.

[vladimirbob] 09/6/2022 14:13

This happened to Sabre Insurance last year. I'm just still trying to work out if it's material or not for CMC.

Other than that, I don't see why the share price dropped 20%. No profit warning, it's the top end of guidance and the company mentioned this expectation in the trading update prior to this.

Although, at current price, the divi declared for the year yields ~5% - not unreasonably priced.

[babbler] 09/6/2022 14:09

yes. I said that about 4 hours ago.

[woodhawk] 09/6/2022 14:03

Ha! The usual crop of after-the-event nay sayers!

[dancing piranha] 09/6/2022 13:55

CMC, never fails to disappoint!