Colliers Intl Share Discussion Threads

[cockneyrebel] 07/3/2008 11:09

look at those trades - 150K, 200K and level 2 moving up.

CR

[kfp] 06/3/2008 15:58

It will get worse when people start having to pay back all the 2nd mortgages on an asset going down in value !

[scburbs] 06/3/2008 14:21

When you strip out the disposal of office profit then PBT in H2 was down from £8.11m to £6.39m a fall of over 20%.

[kfp] 06/3/2008 10:09

I like the fact that they have cash now.

[tole] 06/3/2008 09:03

MM's games the other day - as you say not seen any real sellers since the upturn - with no news with results on any potential offer they were bound to try and drop it to flush a few out. As you say PE 5 and decent yield - cheap cheap cheap :) (So no suprise to see it bak up today)

[cockneyrebel] 06/3/2008 08:58

MM's making you to pay 2p over the ask for 10K - no stock about then :-)

Agree kfp, I still think a bid is coming but dead cheap without it - win/win :-)

CR

[cockneyrebel] 06/3/2008 08:27

103p target looks low to me but it will do for starters - on the up this morning I see :-)

CR

[cockneyrebel] 05/3/2008 21:11

13.9p will do for me - PE 5.2. 7.5% yield.

Hold these for 14 months and get 8.82p in divi, that's 12.5% over 14 months :-)


That's incredible isn't it? Looks like Panmure were putting a few clients into these late on today.

CR

[kfp] 05/3/2008 20:56

jonwig
Thanks for the link, good site.

[jonwig] 05/3/2008 16:13

Comment on results, interview with CEO and broker Panmure price target of 103p plus "buy". eps forecast at 13.9p. Consolidation possibilities too:

[cockneyrebel] 05/3/2008 15:18

To be honest WJCC if they did 10p eps next year they are a bargain - you get 8.45p divi over 14 months so your net buy cost for a co like this with net £3m cash and a thoroughly excellent business is 62.5p.

If they only do 10p eps next year the net PE is 6.2 after netting of the yield over that time.

However, it's not so much the price of the property they sell but the volume of transactions. I think the market is way too gloomy looking 12 months out and they will do that 15p for the year.

There's some chunky buys coming in now - I notice over the past few days the sells have been small trades but as soon as the buys come in it's 50Ks and the like.



PS - watch DTZ - another Estate Agent type that's starting to take off - they've won a huge contact if you read their thread - should underpin forecasts imo.

CR

[wjccghcc] 05/3/2008 11:28

I think they'll be pushed to maintain 15p EPS CR. If they made 15.17p last year with 3 excellent quarters and one lousy one, where will 3 lousy quarters and (hopefully) a better Q4 leave them this year? Definitely one to watch though.

[cockneyrebel] 05/3/2008 09:03

all investments might get cheaper tho Math, that's part of investing.

Between now and May next year you get 8.45p divi at least.

Also, the market tends to look through the next 6 months so arguably if the peak of the banking probs is mid 08 the market should already be looking through that imo.

I personally think the commercial prop sector is performing better than share prices credit it for

CR

[mathisvale] 05/3/2008 08:49

I do not have a holding in COL, but it is high on my watch list. My impressions of the results are :-

A very candid overall picture from the chairman. He predicts small fall in capital values in the first half and flat in the second half, together with stable income. The first half problems are happening now so that is accurate. The question is will the credit crunch fallout abate in the second half or not.

The signs from the US banks and recent company reports is that the effects of the credit squeeze is rippling out to secondary companies, and that a few more nasties are going to emerge during this year. In other words, it might well take longer than until mid 2008 before the storm blows over.

COL is cheap and very attractive as a potential purchase, and will be very good value when the recovery starts. The trouble is it might get even cheaper before that occurs.

[cockneyrebel] 05/3/2008 08:03

5% final divi - hold for just over a year you get 12% yield.

12p eps after exceptionals so PE under 7.

Net £3m cash.

Got to be a no brainer with the bid possibility in there too imo.

CR

[cockneyrebel] 05/3/2008 08:00

just got another 5K

CR

[rogerbridge] 05/3/2008 07:40

Sound set of results at first look

[njp] 05/3/2008 07:37

Agreed, jon. Obviously 08's going to be a tough year, but the comment's thorough and realistic. They're a competent outfit and they'll be opportunities they can exploit. The price has been marked down for a fall-off in income that ain't going to happen IMO.

[jonwig] 05/3/2008 07:19

A pretty positive outlook statement in the results - I can't find any coded negatives.

[cockneyrebel] 04/3/2008 19:15

Laurel puts 94 pubs up for sale
(29 February 2008 17:15)
Struggling Laurel Pub Company has put 94 of its sites up for sale in the same week it closed 22 pubs as part of a refinancing exercise.

The 94 sites are all leaseholds and include a mixture of Yates's, Hog Head, Litten Tree and Bar Med sites and are being sold through property agent Colliers CRE.

Laurel has an estate of its 460 pubs and restaurants, which includes bar brand Yates's with 114 sites.

Colliers CRE director Paul Breen said: "Mostly these sites are fully fitted and there is a great opportunity here for someone to pick something up that is ready to operate."

A spokeswoman for the company said that it was always the plan for the company to refinance in 2008 and the situation remained "fluid

[kfp] 03/3/2008 11:06

Speculators moving on perhaps,I would like to see more volume but I suppose its not the best of days today !

[rogerbridge] 02/3/2008 16:22

Just been reading the new annual report of a VCT that holds Colliers. "We believe Colliers CRE is a well run, diverse and incerasingly international property consultancy with a stong balance sheet and good growth prospects when it's sector recovers. As such, it seserves a place in the portfolio". 14.02.2008