Share Name Share Symbol Market Type Share ISIN Share Description
Connect Group LSE:CNCT London Ordinary Share GB00B17WCR61 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +1.50p +2.40% 64.00p 69,633 16:35:05
Bid Price Offer Price High Price Low Price Open Price
62.00p 64.90p 66.90p 62.00p 62.20p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 1,594.3 34.2 11.0 5.8 158.18

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Date Time Title Posts
20/3/201816:30Connect: New name, refocused strategy927

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Connect (CNCT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-03-21 16:52:3364.003,0311,939.84O
2018-03-21 16:35:0564.006,8364,375.04UT
2018-03-21 16:29:3965.601,208792.45AT
2018-03-21 16:29:3965.6010,0006,560.00AT
2018-03-21 16:29:1666.901,011676.36AT
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Connect Daily Update: Connect Group is listed in the Media sector of the London Stock Exchange with ticker CNCT. The last closing price for Connect was 62.50p.
Connect Group has a 4 week average price of 60.20p and a 12 week average price of 58.30p.
The 1 year high share price is 139p while the 1 year low share price is currently 58.30p.
There are currently 247,159,565 shares in issue and the average daily traded volume is 238,602 shares. The market capitalisation of Connect Group is £158,182,121.60.
aleman: Share price up a bit. 20-day average down slightly. Looks to have broken through so should be good for meeting 50-day around low 70s. After an arguably higher low, you'd guess at a recovery of 75p without even seeing the moving averages. Short-term, it looks promising.
aleman: Off the top of my head: Private equity via cash shell carrying losses. Operating cashflow preworking cap £60m. Close PMP makes £65m. 1/3rd premium bid to current price, funded by £200m debt to buy CNCT plus existing debt = £280m. Interest £20m. Tax £0. Capex/depn £9m. Free cashflow £36m to pay down debt or make aquisitions. Might be feasable. Somebody with £280m cash and tax losses would save £20 interest and get £56m free cashflow. With £280m cash but no tax losses, they'd pay £8-9m tax, so £47m free cashflow. Tempting all ways around, even allowing for some attrition of newspapers and magazines. The shares ought to be rather higher. The discount suggests the market does not have great faith in the boards ability to utilise cashflow wisely. Perhaps shareholders should insist it is all paid out to them and forget expanding the business. £65m -£5m interest -£9m tax -£9m capex, leaves £42m for dividends. We get current share price back in nearly 4 years - a bit longer with dividend tax - and what's left over is value in the business not reflected in the current share price.
cc2014: I am rather surprised to see this one slipping back as I missed the boat at 60 as at the time there were bargains everywhere. I still can't quite figure out why the share price is so low unless there is real risk they will lose some of the contracts due to expire in 2019 and be left with a big hole to fill. This stock is on my "really don't know what to do with list". At the moment I'm looking for safe secure stocks with a dividend stream so this doesn't fit the bill but the share price does look attractive
smithless: It would be insane for the management to continue to pay a dividend if the share price remains at these levels. Better to pay down expensive debt. Have been tempted to buy these, cos from a free cash flow basis, the share price is too low. Would like more info on why the book biz didn't go through, as its rattle confidence further IMHO
lord gnome: Not currently holding, but watching this debacle from the sidelines. The problem with CNCT is that its core business is gradually dying. Its various attempts at diversification to achieve growth in new areas have all failed miserably or are at a critical investment / loss-making phase in their development e.g. pass my parcel. In the meantime there is no good news coming out of the company. No wonder the share rice is vanishing before our eyes - give me a good reason to buy? The market is screaming 'dividend cut' and this is the only thing that has sustained CNCT for some time. Where does it go from here? I haven't clue, but I am glad I am not holding just at this moment. No schadenfreude here by the way. I sold out at a thumping loss after the share price had dropped from 160 to 120.
cc2014: Good find Speedsgh. I never trust a word these advisers write but for one I think that article gets to the core of the issues pretty well, although I don't think the delivery is as bad as they suggest. In summary things aren't going great but the share price is so bashed about it's too low. I'd add the 13% dividend also supports the price
speedsgh: Connect still a ‘buy’ despite profit warning, say Shore Capital - HTTP:// Investors in parcel delivery business Connect Group (CNCT) have been hit by a profit warning after a long list of failures but Shore Capital still believes the share price is justified. Analyst Martin Brown reiterated his ‘buy’ recommendation on the shares, which were trading at 74.5p yesterday, down 29% after last week’s warning. He said the recent profit warning and ‘stumbling block’ in the sale of Connect Books were ‘yet another blow to investors’. Connect had been due to sell its books division to Aurelius, but announced last week the German investors had pulled out of the deal. ‘We recently commented that while we agreed with the new strategy of focusing on early distribution and mixed freight, the long list of strategic failures over the years meant we believed investors should wait to see some delivery first,’ he said. ‘A cut to profit before tax guidance was not the delivery we or investors were looking for. Connect’s diversification strategy has now failed to deliver on all fronts.’ However, he added that ‘in terms of the share price, the reality is that the current price can be justified by the core news and media business alone’.
speedsgh: Results on Thurs should show whether the depressed share price is justified on valuation/prospects grounds or whether it is being artifially depressed by a large seller in the market. Certainly doesn't inspire confidence seeing the share price trickle down even further right beofre results when it has already dropped so much. Not sure if I'm looking forward to results on Thurs or not?!
kenny: Started to look at CNCT as a possible investment but my initial assessment is not positive. The company has no net assets to speak of – the balance sheet incudes a large goodwill figure and large debts albeit some of these will be paid down from the divisional sale. These more or less net off to leave very little in the way of net assets - when compared to a MV of £220m. On one view, the share price is supported by the dividend which in turn is supported by earnings (noting they classify about £5m per annum as exceptional costs – if they are so regular, they are not exceptional, in my view). Any slip in earnings, in turn effects the dividend and the security of the debt – and in the longer term the valuation of goodwill on the balance sheet. It seems likely that the next announcement from the company will be a profit warning. In my opinion, that kicks away all support for the dividend and share price. There is a valuable business here, it is just a question of what the value is and that could be quite a way below the current £220m - depending on how severe/for how long profits fall. Sorry to be negative on CNCT - I was rather hoping I had found a “value” situation to invest in.
edmundshaw: The dividend appears affordable, but I think the company should consider freezing it until debt is reduced or the new businesses start flowing cash. It is quite good enough where it is even with a recovered share price. I don't see the fundamental reasons for the low share price. But of course the company is still in the process of reinventing itself in logistics, and companies that reinvent themselves certainly go througha period of risk generally. Not every strand of the new ventures will be successful, so continued sharp management is essential. Not panicking myself, but also not so bold as to continue adding on a reducing share price. Enough eggs in this basket...
Connect share price data is direct from the London Stock Exchange
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