Share Name Share Symbol Market Type Share ISIN Share Description
Greene King LSE:GNK London Ordinary Share GB00B0HZP136 ORD 12.5P
  Price Change % Change Share Price Shares Traded Last Trade
  +2.60p +0.56% 469.80p 1,186,148 16:35:08
Bid Price Offer Price High Price Low Price Open Price
469.20p 469.70p 473.00p 458.70p 466.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 2,216.5 184.9 49.0 9.6 1,456.27

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Date Time Title Posts
23/3/201806:50Greene King1,287
08/12/201409:41Leisure day...-

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Greene King Daily Update: Greene King is listed in the Travel & Leisure sector of the London Stock Exchange with ticker GNK. The last closing price for Greene King was 467.20p.
Greene King has a 4 week average price of 458.70p and a 12 week average price of 458.70p.
The 1 year high share price is 768p while the 1 year low share price is currently 458.70p.
There are currently 309,976,705 shares in issue and the average daily traded volume is 3,641,496 shares. The market capitalisation of Greene King is £1,456,270,560.09.
cc2014: My issue is the following and I have the same issue across lots of stocks. Lots of stocks like GNK with a fair amount of debt have been sold off for the last year. However,I perceive the rate of increase in interest rates will be faster than the market expects. The market's view of this has changed too over the last 6 months and whilst they now see interest rates rising faster than before, the gap between my perception and their perception is not changing. As they adjust to my perception (lol), this should drive the share price even lower. I also believe the consumer is in a better place than the market thinks and companies like GNK will deliver more profit than expected, which will be greater than the additional interest costs. The market disagrees. So, in conclusion I think the share price will go lower yet, based on bad analysis by the "market" and the P/E and dividend yield will get even more stupid. Until such time as the market's perceptions change, the market is currently "risk off" I find this really really challenging as timing the bottom is a problem and I don't want to wake up one today to find the market has gapped up 10% overnight on all these stocks with "manageable large debt" and miss some great opportunities.
eeza: Can't access full story, but below are the opening paras. "Trouble brewing at pub giant Greene King from short sellers Short sellers circling Greene King as sales and shares fall flat February 18 2018, 12:01am, The Sunday Times Greene King has faced increased competition from casual dining chains Greene King is being preyed on by short sellers who are betting that the pubs owner will come under increased pressure this year. Some 16% of the company’s shares are out on loan to investors — up from 12% at the beginning of January and the highest level in three years, according to the analyst IHS Markit. The increased position, equivalent to £250m of the stock, suggests that short sellers are hoping for a repeat of last year, when the share price fell 20%. Greene King is one of the pub chains that have shifted their focus towards food in the wake of the 2007 smoking ban, which has dented sales for traditional drinking holes."
waspfactory: Our local Greene King pub and Loch Fyne seem to be busy 7 days a week, I'm doing my best to support the share price but draw the line at drinking IPA.
jeffian: If MARS cut the dividend again, you can wave goodbye to the share price forever. The City haven't forgiven them for last time yet. The point of a divi, assuming it is affordable, is that it gives shareholders a reason to hold through bad times as well as good. A recent example is VNET, which supplies the beer monitoring equipment to GKN, MARS and many others, who maintained their barely-covered dividend through the period of upheaval in the pub industry and have restructured themselves into an integrated information-monitoring platform managing smart machines, dealing with contactless payment etc. Shares now recovering strongly and it hasn't hurt to receive a 6% yield while waiting. Bearing in mind that most fund managers would be thrilled to achieve 5-7% compound growth, a good divi achieves that without worrying about the share price. A share which is going nowhere and doesn't pay a divi isn't worth holding.
walbrock82: Looking through Greene King the second time around, here are the following important points shareholders and new investors should take to heart: Starting with the good points -The stock is 20%-30% undervalued based on a range of valuation metrics, which takes into account the latest trading update. -Despite, rising total borrowings to £2.5bn. On a per-share basis, debt fell from £14 in 2005 to £8 today. Meanwhile, the share price is down from £6.50 to £5.50. Making the stock an undervalue investment play. -Greene King controls £3.2bn of freehold properties. If you minus the net borrowings, the excess properties are around £1.1bn or 64% of market capitalisation. Now, onto the bad points -Commercial properties prices have continued to struggle and despite two years of growth, it remains below levels last seen in 2000. That’s because of the interest in online shopping and the closures of bricks and mortar stores. -Their brewing ale brands division is facing growing competition as profit margin fell from 20% to 15% in a decade. Putting it all together. Share price forecast On the technical charts, the sentiment is seriously negative. The indicators are making lower lows in the RSI and MACD. This could send the shares falling towards £5. But that represents immediate value, as long as earnings don’t collapse (30% or more). Personally, I’m pencilling in a fall of 10% in adjusted earnings. However, this time next year, shares in Greene King could rise to £6.50 per share. Given the historical performances of Greene King, this has a 70% chance of happening. But the key is to wait for another three months to see if the technical indicators change direction. Thanks for reading and make sure to comment on my blog post below, if you have specific questions. This is because the forums are very active and I don’t have the time to scroll through several pages. Although any answers I will re-post on the forum if it proves helpful to shareholders. My full post with charts and explanations:
tlobs2: So then, a modest 1.2% drop in sales ......hardly justifies a slump in share price of 14%.
philanderer: Canaccord downgrades... Following today's disappointing AGM trading statement from Greene King, we are cutting our EPS (Dil. Adj.) forecasts by 5.7% to 66.7p for FY18E, by 8.3.% to 67.8p for FY19E and by -10.8% to 68.6p for FY20E. This is our fifth consecutive trading downgrade. We also now assume no growth in the dividend. The worsening consumer outlook and poor summer weather is ostensibly to blame but the Spirit integration is yet to deliver revenue synergies with the high exposure to the value food segment acting as an extra drag on performance. We are cutting our recommendation to HOLD from Buy and our target price to 550p (was 850p). The £3.6bn of SE orientated freehold assets on the balance sheet underpins valuation supported with plenty of transaction evidence, dividend is +2.0x covered but the downgrades need to stop to breathe new life into the share price. HTTPS://
jeffian: This is a longer précis of the HSBC note which knocked the share price. The increases in costs are real enough - increases in Minimum Wage and, particularly, the impact of the property rates revaluation - but, like others above, I doubt there will be a serious downturn in trade. Time and again pub trade has proved to be considerably more resilient in recessions than commentators feared. As for saying pubco's "aren't especially cheap", with both GNK and MARS trading on single-figure PER's, how low is "cheap"?! "HSBC TAKES DIM VIEW OF UK PUBS, DOWNGRADES GREENE KING AND 'SPOONS (ShareCast News) - UK pubs face twin risks from consumer spending and rising costs, leading HSBC to take a more negative stance on the sector and downgrade Greene King and JD Wetherspoons. HSBC, which moved Greene King to 'reduce' from 'hold' and Wetherspoons to 'hold' from 'buy', also kept Marstons and Mitchells & Butlers at 'hold' ratings as it sees limited attractions from the pub companies as they "aren't especially cheap and they face earnings risk". In a note to clients the bank examined how valuation support is limited and concluded that consumer weakness "may now be showing through and, combined with cost increases, this could hurt earnings for some of the operators". With various reports suggesting a downturn may already be under way, analysts at the bank questioned pubs' claims that eating/ drinking is an "affordable treat" that would not be badly impacted in a consumer downturn. "Maybe that's true, though macro level data suggest that spend was hit badly during the last recession, even if like-for-likes at the big pubcos weren't. Companies must also try to offset higher costs through higher pricing, which may be difficult," they said. Of the four companies, only Wetherspoon's looks to have "clear pricing power" and is seen as the best placed to trade through the weakness, its strong share price performance means it's "no longer cheap in the circumstances". With the analysts unsure of a consumer downturn but worried about the continued increase in costs and the ease with which this can be mitigated, Greene King was downgraded on concerns over its cost outlook in particular."
philanderer: Bit of detail from that note In a sector review, the HSBC analysts said: “We can’t be sure of a consumer downturn, but do worry about the continued increase in costs and the ease with which this can be mitigated... ...They added “Operators have already struggled with this even in a benign consumer environment. We don’t see obvious valuation support, and think downgrades will drive share price weakness. “
walbrock82: 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
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