Colliers Intl Share Discussion Threads

[njp] 06/12/2007 11:36

Agreed, Barn Owl, but at this extremely discounted price and given they haven't warned on the numbers, it seems extremely unlikely that any purchase will be out of the money for long.

[pepi moon] 06/12/2007 11:32

For what its worth my trade has shown up as a sell so I am assuming a lot of these at 67 and even 66 are actually buys.
Should also add that a few months ago I spoke to the company and someone mentioned that there was a seller in the shares in an unorderly fashion - so a destressed seller would seem about right.
All imho no fact pay no attention blah blah blah.

[barn owl] 06/12/2007 11:30

Difficult to get the timing right on these in a downturn. However, decided to buy a few this morning. I like the divi yield (if maintained) and cash position.
Good luck all.

[njp] 06/12/2007 11:12

I agree, pepi. Stock from distressed sellers being swallowed up it seems.

[pepi moon] 06/12/2007 11:08

topped up again today should turn with the sector, looking really cheap now.

[njp] 05/12/2007 10:20

This has got to turn at some stage. Taken a small initial nibble today.

[jonwig] 01/12/2007 12:28

This is the Hardman note from October.
Price 93p, target 125p.

[its the oxman] 30/11/2007 13:14

i see panmure gordon's latest forecast as of 29/11 has this year ptp 10.69m, 14.98p eps and 5p div with next year 10.7m, 15.05p ad 5.5p. amazingly cheap or given the share price something else is horribly wrong. can't believe this has fallen so far myself and tempted to buy more but i guess i should wait for some positive news first.

[cockneyrebel] 30/11/2007 10:59

Don't listen to Bloomberg alexajc - they'll have you slitting your wrists just as a market bounces or getting you to morgage your house to buy stocks at a top - they are always late to the story.

CR

[jonwig] 30/11/2007 10:51

Alex ... 15% is the consensus, yes - but not uniformly spread.
You'd think it would be a lot more, judging by the share prices.
The T R Property outlook statement makes interesting reading - he's beaten the relevant share index in every one of the past ten years:

[ba5hir is back] 30/11/2007 10:50

Dump em this is another of CR's crocs.

[alexacj] 30/11/2007 10:41

That's the conundrum for me Jonwig.....I'm sitting on the side wondering where the bottom lies!!! The Bloomberg piece seemed to be united in the view that the UK commercial market will drop by up to 15%...maybe more........they especially see weakness in City properties and secondary retailing...they also think that activity will grind to a halt.....they see european sectors such as germany not being effected by this as they have not had the price boom we have and also have not got the spare capicity we have.....an interesting discussion........think I'll keep watching here!

[jonwig] 30/11/2007 10:35

Pepi - why did you delete post #426? I thought it a useful bit of information.

[alexacj] 30/11/2007 10:07

Piece about UK commercial property underway on Bloomberg....picture doesn't seem to look too good!

[jonwig] 29/11/2007 14:10

DTZ down (a smidgin) and SVS up today.
COL ... ooooops!!

[njp] 29/11/2007 14:03

Cr4

Good system. Reminded me about Dicom (DCM) that I used to hold a while ago. They own Kofax.

On another note, I see property sentiment is down again - and with it, the COL share price. Even more of a bargain now!

[cr4zyness] 28/11/2007 19:55

Dont think this has been posted:

Colliers CRE Reduces Administration by 50% with Advanced Accounts Payable Solution


Digital Vision successfully streamlines property management accounts payable function of leading commercial real estate consultants


[UKPRwire, Mon Oct 29 2007] Colliers CRE, one of the UK's leading real estate advisers, has deployed an advanced accounts payable solution to handle the large volume of invoices the company receives annually in its Property Management Accounts department.

Designed and deployed by Digital Vision, a BasWare company, the solution has enabled Colliers CRE to successfully reduce overall invoice processing times by 50%.

The solution has also reduced supplier queries by at least 50%, as there is now greater document visibility and performance monitoring of processors and approvers. This has served to further reduce costs, improve operational efficiency and free up considerable internal resources.

The new system has given Colliers CRE the opportunity to work more closely with partners and key suppliers, with a faster payment cycle promoting stronger supplier relationships. Document accessibility also allows faster delivery of interim and annual accounts to clients and tenants, further improving overall levels of service delivery.

The Kofax Ascent OCR software automatically extracts data from the scanned invoices and using SpeedKey, a Kofax module developed by Digital Vision, automates the correction and validation processes to reduce the margin for error and optimise processing capacity.

Scanned images are directed through the automated workflow solution for approval. Approved invoices are forwarded to the TRAMPS accounting application, ensuring a more streamlined approval process and guaranteeing the timely payment of supplier invoices.

Claire Thomas, Head of Property Management Accounts at Colliers CRE, said: "An efficient accounts payable function is fundamental in Property Management and the benefits to our clients of a leading-edge integrated system such as this are considerable.

"Advantages range from strong supplier relationships to close monitoring of expenditure and faster financial reporting to the landlord and tenant. Document accessibility and audit trail are also much improved."

Following the successful roll-out, Colliers CRE is considering extending the solution to its Corporate Accounts Department, to automate the handling of its own purchase invoices.

[tole] 26/11/2007 15:27

Yep good risk reward, as said, on a PE of Sub 5.
Hopeful interest rate cut next month or early next year should help sentiment too.

Last one on 77 - L2 3v1 (75-77)

[njp] 26/11/2007 08:13

Tole

I have to agree with that sentiment. COL's on a crazy valuation now.

[tole] 26/11/2007 07:56

Newsletter from Growth Company Investor - Peter Shearlocks Small Cap Stock Picks.

Monday 26th November.


Colliers a steal after property slump

You would have to have spent 2007 on Mars to have missed the headlines about falling commercial property prices. A number of big deals (such as British Land's proposed sale of its Meadowhall shopping centre) have been pulled. Many secondary property prices have suffered sizeable falls. Overall, it looks as if yields demanded by buyers for even the best investments have risen from sub-four per cent to over five per cent.

It is not surprising therefore that the prices of all the quoted commercial property agents have taken a hammering. AIM-traded Colliers CRE has been the worst to suffer. Despite the publication of figures at the end of July showing a one-third rise in fee income and profits almost doubled to £3 million, Colliers shares are down from a peak of over 200p to 76p today. That puts them on a multiple of less than five times anticipated 2007 earnings. If the ten per cent rise in the interim dividend is carried through to the final payment, the shares will be yielding 6.5 per cent.

Now Colliers – one of the UK's top ten commercial property agents – is bound to suffer some fallout from the property market downturn. Fees from the commercial property investment market accounted for less than a quarter of last year's total revenues, but carried higher than average margins. However, more than a third of revenues come from property management, valuations and consultancy work, and the company has been investing strongly in investment management and co-investments. There is little or no exposure to residential property.

After the share price collapse, Colliers is capitalised at just £34 million. The business is still expected to make around £11 million this year and next. The balance sheet is strong after a £15 million rights issue a year ago (at nearly twice today's share price). It may take some nerve picking up a property agent's shares right now but I am convinced it is the right thing to do. Hardman & Co recently assessed fair value at 125p a share. There is every prospect of a short-term bounce once the stock market as a whole stabilises. Buy.

[tole] 23/11/2007 16:11

Thanks Jonwig.

As picked out in the Hardman update last month - COL usually trades at a p/e discount to DTZ and SVS - but definately down here that discount looks a little steep.

COL also has the highest yield - 6.5%

Believe they have COL with a BUY rating and fair value of 125p, and likewise Panmure have 129p target.

[jonwig] 23/11/2007 15:43

These??
MCap £381m vs COL £35m ... and similar single-figure P/E projections.
SP performance puts COL in context: