Future Share Discussion Threads

[hjs] 01/3/2023 15:47

Canaccord's sell initial coverage makes assumptions which are very general and applies to most industries namely retail relating to consumers. Imo, this company is worth a lot more than where it is today.

[ochs] 01/3/2023 10:11

@johnrxx99 I'm afraid you've read that RNS wrong - total holding of BlackRock is down slightly from 6.26% to 6.23%.

@liam1om which broker wrote the Sell note? Thanks

[liam1om] 01/3/2023 08:08

Future (FUTR, SELL, Mcap: £1.7bn) – Initiation

Target Price 1,153p, Current Price 1,400p
Future has been a stock market darling for a decade; however, all good things must come to an end.
We believe the business is likely to move into a more challenging period with slowing growth due to lower structural growth tailwinds, weakening traffic to key websites, slowing economic growth, a move to new categories and less M&A, while the development of AI generated content could remove the moat around the business, putting pressure on pricing and ultimately the valuation.

We see downside risk to consensus and our FY23-25E PBT estimates sit 7-13% below consensus.
We initiate with a SELL recommendation and 1153p price target.

[johnrxx99] 15/2/2023 09:35

Nice holding increase from Blackrock

[johnthespacer] 03/2/2023 14:11

I dont think it is anything too exciting as they are a US wealth management company... nice to see them buying but not a takeover or anything like that
I am long term holder here anyway... been a lot lower and a lot higher before now lol

[ochs] 03/2/2023 12:26

Well it did yesterday - remember they invested a lot lower on 27 Jan!!

[ukaliptus] 03/2/2023 12:14

By my calculations, they've invested over £100m - but it doesn't seem to have affected the SP!!

[ochs] 03/2/2023 12:10

Yes indeed - who are Ameriprise Financial, Inc? They now own 5% and bought on 27 January, so already in the money!

[ukaliptus] 03/2/2023 11:18

Significant RSN.....see it!

[ochs] 02/2/2023 12:38

It's not so cheap now - cheap was around £12/13.

It suffered due to the very successful CEO announcing she was leaving - I don't think a replacement has been appointed yet, so there is some uncertainty.

[undervaluedassets] 02/2/2023 12:13

Er why is this so cheap?

There has been steady growth here.

Anyone have any insights before I do anything rash.

I know REACH has been a toxic mess. but this looks like a steady performer at a business level. But clearly not the shareprice

[death by donut] 12/1/2023 07:12

Your committed , I'll give u that.Filtered

[slogsweep] 11/1/2023 11:13

RCH reporting profits wiped out in 22 due to lower advertising and digital sales. Maybe FUTR will be experiencing same head winds hence investor reaction and share price fall

[squintyflinty1] 30/11/2022 14:29

I totally agree riverman77

[riverman77] 30/11/2022 10:00

A modest growth outlook is surely an encouraging sign given the bleak economic outlook and the fact that advertising makes up a large part of their revenues. So perhaps ex-growth next year, but wouldn't say the long term growth story has gone away. I guess there is some uncertainty over the expected change of CEO next year, coupled with the relatively high level of debt.

[eddie1980] 30/11/2022 09:44

I suspect drop is due to guidance - FY23 'modest' profit growth....i.e. it is losing
its status a growth stock....

[eddie1980] 30/11/2022 09:43

Johnrxx99:

You are not comparing like with like. Brokers expected EPS numbers are on adjusted numbers (primarily excluding amortisation of purchased intangibles.)


Adjusted EPS per results 163.5p vs 159.4 forecast by brokers..

[spawny100] 30/11/2022 09:23

Glad I got out of these at 35 on gut instinct. Feel sorry for any that have held from those heady heights as doesn't look like it will be regaining them soon if ever based on today's results.

[johnrxx99] 30/11/2022 09:21

Of course the analysis's knew that but didn't adjust. Those in the know (not me), after a 70% peak to bottom, are probably sanguine with it but the forecasts for '23 and '24 are toast.

[johnrxx99] 30/11/2022 09:17

Average consensus:-

PBT GBP 254 as against 170
EPS 159 pence as against 100.9p

So about 50% down on forecasts.

[buffetteer] 30/11/2022 09:15

& a 9% free cash flow yield for this year !

[deadly] 30/11/2022 08:44

How is that a miss then??

[buffetteer] 30/11/2022 08:22

A good result to hit expectations in tough times . 163.5p of adjusted diluted EPS with consensus at 159p .
£265m of cash generated bringing down the debt to 1.48x .
Modest profit increases forecasted for ‘23. But that will be before any further acquisitions which we know add 10-15% to profits as per the plan .