Greene King Share Discussion Threads

[ih_375993] 30/6/2017 10:45

Ed 123
Re Ft-looking at accounts i see
-Business has good spread across food/wet sales and good retail sales.
-Debt seems to be predominantly secured against properties which have lots of coverage despite lowering the valuations.
-Business seems well placed to benefit from other weaker brands struggling
I am a novice, feel free to correct my points.

[philanderer] 30/6/2017 10:43

30th june Panmure buy tp 800 cut from 850p

[ed 123] 30/6/2017 09:36

Today's FT is not enthusiastic.

Competition from similar businesses, population moving slowly away from alchohol consumption. Would like GNK to reduce its debt. Likes the dividend yield.

[philanderer] 30/6/2017 09:13

Morning EI, seems pertinent to about every company all over the country. R word being whispered by a few this week.


Downgrade by JP Morgan Caz this morning 'overweight' to 'neutral' tp 810p to 750p.... I`d be impressed if they came out with these recs before a chairman's or CEO'S statement

Beaufort reiterating 'buy' as well

[essentialinvestor] 30/6/2017 08:23

The results look solid enough, however the most striking
aspect I thought was the comment about intensifying competition over
the next number of years.

[jeffian] 29/6/2017 23:19

"However, EPS fell from 80.2 pence to 49 pence, thanks to increasing share count!"

Bit of a silly comment. The share count increased largely because there was a 2-for-1 share split in May 2005 (i.e. 80.2p eps = 40.1p) and subsequently there was a 3 for 5 Rights Issue in May 2009. Statutory eps of 49p this year actually adjusted 70.8p after exceptional acquisition and impairment costs arising from Spirit acquisition.

[walbrock82] 29/6/2017 19:10

Looking beyond today’s results, we note the following factors: -

Since 2004

Revenue grew from £552m to £2,216.50m, an average growth of 11.3%.
Net income rose from £52m to £151.7m.
Net Cash profit rose from £68m to £299.2m.
Total Assets rose from £1,254m to £5,598m, with total liabilities increased from £600.7m to £3,654m.

However, EPS fell from 80.2 pence to 49 pence, thanks to increasing share count!

Finally, dividends per share remain ROUGHLY unchanged during the period at 32 pence. This is despite dividends rising from £22m to £101m.

On Greene King Cash Position

Since 2014, Greene King includes a liquidity facility loan of £157.5m in cash and cash equivalent, that facility is REPAYABLE ON DEMAND. Therefore, it doesn’t belong in that category!! By excluding it, the cash balance is £285.5m.

On Greene King Debt mountain
Debt is high, but in relation to properties, it accounts for 65% of total properties.

On Greene King, Operating Lease

Since the acquisition of Spirit Pubs, Greene King total operating lease went from £26m to over £1,353m in a year. This will lead to higher rental costs for the future.

On Greene King’s share price

On balance, the company is fairly valued, given that it will experience some cost pressures. A credible entry point for the shares would be £6.20-£6.30 per share price if operational performance continues to improve.
However, a financial crisis or an economic recession in the UK would be damaging to its share price.

For detailed analysis, click

[philanderer] 29/6/2017 17:21

'Pub giant Greene King to boost sales through brand shake-up'





'These 5% dividend yields could help you win financial independence'

[philanderer] 29/6/2017 10:16

May have been a bit previous with my purchase ! ;-)

[maurillac] 29/6/2017 09:53

Results looked good to me as well.
M

[philanderer] 29/6/2017 09:45

Happy with that. Added 200.


29th june ShoreCap buy -
29th june N+1 Singer hold -

reiterations

[jeffian] 29/6/2017 09:42

There you are, it's up. Does that help?

[ed 123] 29/6/2017 08:35

Well, Patdavey, if the results today look good to you, perhaps you can help Fernandesb.

Why do you say, "... the prelim results today look good to me." ???

[fernandesb] 29/6/2017 08:20

So i wonder why the share price is down?

[patdavey] 29/6/2017 07:51

Despite Harvey Jones dire warnings in the Express a few days back, the prelim results today look good to me.

[philanderer] 28/6/2017 20:57

Tomorrow morning... Hope for the best , plan for the worst ;-)

[philanderer] 25/6/2017 21:19

Greene King to disappoint investors with flat results

[philanderer] 23/6/2017 13:25

Prelims next thursday

[philanderer] 20/6/2017 16:29

20th june Deutsche buy tp 875p

reiterates

[philanderer] 09/6/2017 18:18

Retailers Marks & Spencers and Next nursed losses of 6.6p and 76p, respectively, amid fears heightened political uncertainty would translate to weaker consumer confidence. Leisure stocks also suffered from a post-election hangover, as Greene King slipped 9.5p to 711.5p and JD Wetherspoons lost 31p to 969p.


Telegraph

[philanderer] 23/5/2017 16:37

'2 FTSE 250 greats for growth and dividend investors'

Greene King(LSE: GNK) and 3i Infrastructure (LSE: 3IN

[philanderer] 18/5/2017 23:53

'Greene King launches new ale with Radio X'

[philanderer] 09/5/2017 13:42

updated:

9th may Cenkos hold -
8th may Numis hold tp 790p
4th april Investec buy tp 870p
14th march Barclays overweight -
7th march Berenberg hold tp 700p
15th feb Deutsche buy tp 875p
14th feb Canaccord buy tp 850p
13th feb Stifel buy tp 780p
13th feb JP Morgan overweight tp 810p
10th feb Panmure buy tp 850p
10th feb ShoreCap buy -


10th feb ++++ Q3 update ++++

[philanderer] 08/5/2017 19:19

Pub operator Greene King also became the victim of a rating downgrade. Broker Numis slashed its rating to “hold” following its recent share price strength. The FTSE 100 stock slipped 2.5p to 757p.