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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cvs Group Plc | CVSG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 11.00 | 1.16% | 961.00 | 16:35:01 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 945.00 | 933.00 | 957.00 | 961.00 | 950.00 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Top Posts |
|---|
Posted at 26/1/2024 11:31 by iamnotanumber6 Berenberg believes CVS can deliver double-digit earnings growthVeterinary services provider CVS Group (CVSG) is on track with its plan to grow, invest and acquire, a story that remains ‘highly attractive’, says Berenberg. Analyst Calum Battersby retained his ‘buy’ recommendation and target price of £23.70 on the stock, which was trading at £16.73 on Thursday. A first-half trading update for the six months to the end of 2023 showed the group’s ‘strong performance’ has continued, Battersby said, with 6% like-for-like revenue growth, stable year-on-year margins and a further 5.4% revenue contribution from acquisitions. Battersby said the company’s growth strategy is ‘clearly working’ as it enjoyed a ‘combination of strong organic growth, investments in practice refurbishments and relocations, acquisitions in the UK and acquisitions in Australia’. Although the market is currently focusing on the next update from the Competition and Markets Authority which is looking into value for money offered by vets, Battersby said the ‘underlying CVS story remains highly attractive’ and said investors ‘can expect double-digit compounding earnings growth for the foreseeable future’. |
Posted at 01/10/2023 13:17 by waldron se811 Oct '23 - 09:49 - 806 of 806 0 0 0 Tipped in The Times “The shares are trading at a forward price/earnings multiple of under 16 for 2023 — lower than historic averages and also throwing open the prospect of an opportunistic private equity bid.” |
Posted at 01/10/2023 09:49 by se81 hxxps://www.thetimesTipped in The Times “The shares are trading at a forward price/earnings multiple of under 16 for 2023 — lower than historic averages and also throwing open the prospect of an opportunistic private equity bid.” |
Posted at 22/9/2022 09:39 by ariane Financial calendarThursday 17 November 2022 – Ex-dividend date for dividend Friday 18 November 2022 – Record date for dividend Wednesday 23 November 2022 – Annual General Meeting Friday 2 December 2022 – Dividend payment date |
Posted at 20/11/2020 16:52 by lomax99 FT Lombard today:IPO for vet services group IVC is likely to test the market’s animal spirits Lockdown Britain has a puppy shortage and a surfeit of stock market dogs. Veterinary services company IVC Evidensia, a beneficiary of the former, has all the makings of the latter. Private Equity group EQT and Nestle, IVC’s current owners, are planning a London listing for early next year. They see a business worth up to £12bn at the enterprise value level, at least according to excitable bankers who have attached themselves to the plan. Investor might ask what exactly has changed since IVC’s funding round in February last year, which set the headline enterprise value at just £3bn. The answer appears obvious. Homeworking has given time-poor commuters the opportunity of pet ownership. Google Trends data picked up a doubling of UK searches for “vets near me” in the five months after the March lockdown as new owners looked to vaccinate and neuter their new companion. Pets being for life, the trend is likely to withstand recession. Like-for-like sales at CVS, the UK listed vet owner, hardly budged throughout the downturn of 2007 to 2011. Its shares have surged more than six-fold from March lows on expectations of a repeat performance. CVS and its private equity-backed rivals take advantage of industry economics that favour buying over building. They buy up independent practices with long customer lists then use scale to squeeze down costs. When the time comes to sell, consolidators such as the US behemoth Mars Petcare have been rapacious customers. The playbook has limits, however, mandatory services such as 24-hour locums are a cap on cost cutting potential so earnings can flatline soon after acquisition. Analysis from RBC Capital Markets found the between 2009 and 2017 CVS bought £26.1m of ebitda by taking over 255 practices, yet group ebitda rose by just £29.7m. While not much is known yet about IVC’s finances, a Fitch report from August hints as a roll-up vehicle that is running out of road. The debt rating agency expects sales to grow just 5 per cent by 2024 and records negative fee cash flow for 2019 as net debt ballooned to 9 time ebitda, likely choking the bid pipeline. Perhaps lockdown has transformed these numbers but if that is the case, why would the sellers be selling? London needs to shake its reputation for overhyped floats, particularly those that give private equity a timely exit. If an IVC arrives anywhere close to its mooted valuation, investors are being served another dog’s dinner. |
Posted at 06/9/2020 09:42 by sarkasm (Investors Chronicle) Britain’s largest veterinary-services company operates more than 500 practices. Levels of pet ownership have risen steadily over the last ten years and “rocketed&rdqu |
Posted at 14/3/2019 13:35 by mccookie Sold a few and made a bit back. Mars are a very different and mature business in this marketplace. You can’t benchmark CVS as a Mars they are way off and my hope is for a takeover for my remainder. May bail before financial results hit as all the predictions for this firm look very gloomy. The US market is very different to the UK the PE space is crowded and the panic buying PFM shares by directors to give faith to investors should send out alarm bells. But will bump the price up prior to the results. |
Posted at 25/2/2019 12:43 by mccookie Looking at Glassdoor reviews of how CVS management are running things at the moment gives a good indicator of employee engagement. Have to say does not make good reading... clearly retaining staff in particular vets is key to growth against competitors. Many negative comments about senior management. I think other PE ran vets are more attractive at the moment. I don’t see Amazon entering the Vet marketplace- more likely to take CVS is Mars/pedigree who are already significant having taken a number of vet companies and have the scale and background already to do so having ran multiple vets in the US.. that said the business needs to be well run and an attractive proposition which I cannot see at the moment or any noise from CVS to attract investors to believe otherwise. |
Posted at 17/2/2019 04:53 by j0sekl This is a moment to see CVS's management quality as they face increased labour costs and there are now more PE-backed competitors in the market. I think it's an advantage they hold the biggest market share but I will not give them the chance of another slip-up. I am a late investor that came in predicated on their continual growth and margin conversion.So what am I looking for, 1. Whether they understand not overpaying for M&A 2. How they'll focus on financial strength as well as growth 3. Demonstrate they can outshine some respectable competitors. These have always been the data points but now is decision time. I want to see them set decent targets and not overpromise, which is the curse of growth companies. |
Posted at 09/8/2018 05:08 by lomax99 IC comment:CVS disappoints shareholders, againVeterinary group CVS (CVSG) has admitted that trading in some of its newly acquired practices has been disappointing. The group which bought 52 new surgeries for £51m in the year to June 2018 blamed poor weather for the performance and said that normal like-for-like growth would resume in the current financial year. Still, unimpressed shareholders wiped a fifth off the company's market capitalisation in response.CVS can't afford any slip ups. The group's aggressive acquisitions strategy has made it the largest owner of veterinary practices in the UK and investors have come to expect seamless integration and solid underlying growth. But competition is on the rise, forcing CVS to enter into expensive deals in order to keep rivals at bay. What's more, as many of these practices are being bought from private owners, retaining the vets and nurses has caused a big hike in staff costs. The extent of the spending will be revealed when the group announces its annual results at the end of September.IC ViewFollowing its spectacular growth until the end of 2017 and despite the positive trends of the market, CVS has struggled to regain favour with investors since its profit warning last December. But we think investors have over reacted to the recent update. A forward price to earnings valuation of 19 times looks good value considering the long-term potential. Buy at 939p. |
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