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
  +1.60p +2.85% 57.80p 45,427 09:29:56
Bid Price Offer Price High Price Low Price Open Price
57.10p 57.80p 58.70p 57.80p 58.70p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 1,594.3 34.2 11.0 5.3 142.86

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Date Time Title Posts
21/5/201818:06Connect: New name, refocused strategy1,039

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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 56.20p.
Connect Group has a 4 week average price of 53.50p and a 12 week average price of 53.50p.
The 1 year high share price is 130p while the 1 year low share price is currently 53.50p.
There are currently 247,159,565 shares in issue and the average daily traded volume is 241,417 shares. The market capitalisation of Connect Group is £142,858,228.57.
kenmitch: Chickenvindaloo. A very helpful post. Thanks. I've just looked at your earlier posts about Tuffnells and the results show how right you were. And you even feared the share price falling to around 50p as a result. Wish I had seen/taken more notice of your earlier posts. I still hold Connect but am pondering selling out. Their turnaround plans sounded woolly so presumably unless they sell the business things are going to get worse rather than better, as Management sound incompetent. A real shame for people like you who work there and presumably a danger of job losses too if things don’t improve. For shareholders (we’re lucky as unlike for you the only worry for us is the share price) the question is whether the bad news is priced in now. The PE is very low and they’ve held the interim dividend. Even if they were to halve the final the yield would still be very high. Do please post again, especially if any hint of things getting any worse, or (sounds unlikely) better.
gaffer73: It is something they have identified and are now addressing though. The fall in share price seems a bit overdone if they can hit the yearly target. I notice they have paid the divi for at least the last 5 years with a similar revenue.
speedsgh: Connect continues to struggle - HTTPS:// IC VIEW: Even with the half-year dividend being held at 3.1p, the collapse in Connect’s share price makes for an eye-popping dividend yield of 17 per cent, while shares trade on just four times forward earnings. But we don't think this presents value. Connect is hugely underprepared for the modern era of distribution and changes to the business operations are coming far too slowly. Sell.
kenmitch: True, and a cut is likely. Guessing about 50% cut. Share price reaction to that depends on results news and especially the outlook. If results OK and Outlook more promising the share price could well go up even with a halving of the dividend. But better still would be good results, good prospects and a maintained dividend. Share would rocket (16% dividend!)if that happened. Tomorrow is going to be very interesting. EDIT. Missed out worst case! Poor results, bleak outlook and dividend cut or even cancelled. Will be cutting a loss if that happens!
wllmherk: Do you hold these RCT ? I've been topping up also, but, must admit I hit the buy button with some trepidation due to the share price fall. Cash flow seems good and they have steadily reduced borrowings which is also good. At this price there is also a slight chance that they could be bought by a predator for a knock down price. wllm
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.
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’.
Connect share price data is direct from the London Stock Exchange
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