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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Harvey Nash Grp | HVN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 128.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 128.50 | 128.50 |
| Top Posts |
|---|
Posted at 26/9/2018 16:44 by mongrels3 Does anyone on here subscribe to Investors Chronicle?There is a feature on HVN today I believe. |
Posted at 29/8/2018 10:07 by dangersimpson2 I doubt DBAY will come back with an improved offer. However that doesn't mean that an industry player won't make an offer. DBAY are investors so they are not desperate to get into the recruitment industry, all they care about is generating the highest risk adjusted return so if someone makes a higher offer they are highly likely to take it. Doesn't mean it will happen though - maybe the larger recruiters don't see significantly higher value in HVN than the DBAY offer. There is an argument to be made though that the larger recruiters could offer shares on a P/E of 20 to buy earnings on a 10 times multiple and if they could remove central costs and get HVN's net margins from their current 1% to 4% then they would be getting it for 2-3x future earnings. |
Posted at 07/8/2018 09:36 by davidosh I think this is a lowball offer but it probably needs another trade buyer to come in and shake it up or I fear DBay will have done all the necessary work and incentives to management to get enough votes in a weak market especially with the Brexit woes clouding over investors. It is the Summer so a perfect time to catch things whilst the larger investors are sunning themselves on extended hols !I will be amazed if this does not get others casting their net on the sector at GATC has been a sitting duck with a ship that appears rudderless and RTC Group where I have a large holding is on a P/E of 5.5 and yields a whopping 7% with directors paid as much as HVN so if the admin costs and central overhead can be slashed or absorbed then it makes a great albeit smaller catch... Just my view but I suspect this will kick off more action in the sector. |
Posted at 07/8/2018 08:05 by dangersimpson2 DBAY are value investors so they were never going to pay a high price, and while the offer doesn't look generous at all part of the rise in share price of the last year has been them buying & putting pressure on management to stop taking all the returns of the growing business in salaries.Being investors though means that if a reasonable counteroffer comes through I'm sure DBAY would accept. HVN should make a nice, earnings enhancing bolt-on for one of the larger recruiters, just hope one comes through with an acceptable offer in time. |
Posted at 07/6/2018 08:57 by davebowler Zeus;Capital markets day Harvey Nash hosted a Capital Markets Day yesterday in which it updated investors on its Group strategy and gave an overview of its key operating regions and divisions. Following its transformation plan, Harvey Nash is now a focused technology recruiter with a portfolio of complementary brands that enables it to provide a one stop shop for its clients. Current strong trading momentum is backed by a solid balance sheet and a highly cash generative model that has enabled the group to return c.£24m in dividends over the last decade. Yesterday’s positive Q1 trading update saw shares close at five-year highs last night. We believe its current valuation continues to be highly compelling relative to its listed recruiter peers. On a current year EV/EBITDA of 5.5x and a P/E ratio of 8.4x supported by an attractive 3.9% dividend yield. § Key takeaways: Harvey Nash is positioned in the growing technology recruitment space where acute skills shortages are driving demand for its services. The Group operates through a range of leading brands that are well-recognised by both candidates and clients. It is able to offer an end-to-end service, placing candidates from the bottom to the top of its clients’ companies. The financial strength of the business is reflected in its strong current trading and conservative balance sheet gearing with forecast FY19 net debt of just 0.1x EBITDA. It is a highly cash generative business model which has enabled the Group to deliver 10 years of sustainable and progressive dividend distributions, returning c.£24m to shareholders over that period. § Region & divisional: The Group operates a federal structure with strong, long serving regional management teams able to make autonomous decisions relevant to their local markets. The capital markets day presentation included updates from a number of regional and divisional heads, the key takeaways of which are summarised in the note. § Forecasts: We remain comfortable with our full year forecasts which are underpinned by Q1’s budget outperformance. We leave our numbers unchanged but continue to see upside potential to our projections going forwards § Valuation: The shares rose on yesterday’s positive trading update, reaching five-year highs. We believe Harvey Nash continues to represent good value relative to its listed peers. Contribution from successfully executed acquisitions alongside ongoing gains from its internal transformation plan are helping it to deliver solid results. The shares trade on an FY19 PE of 8.4x yielding an attractive 3.9%. |
Posted at 26/4/2018 11:24 by edmundshaw I think the activist investors are going to help draw more earnings from Harvey Nash. Tomorrow's results could make HVN look very cheap, with a definite possibility of a re-rating.Looking at last year's finals and the recent trading update gives me confidence to hold on to my overweight position here. But of course it is tomorrow's numbers that will drive the share price... |
Posted at 02/3/2018 07:59 by edmundshaw Last year adjusted EPS 8.86p. Add 22% to that gives 10.8p EPS underlying! So on a P/E of just above 8 at the moment, with further efficiency and further dividends from the two acquisitions to come and an active investor with board presence likely kicking things along! The rating is clearly wrong. |
Posted at 02/3/2018 07:53 by edmundshaw Wake up fellow investor(s)!! There's a great update sitting in your in-tray!"adjusted profit before taxation and non-recurring items being up c22% compared to the prior year" |
Posted at 08/12/2017 13:57 by davidosh Lightning can strike twice and it is almost exactly one year ago for Creston shareholders...To facilitate the deal, Dbay, the Isle of Mam Isle of Man-based financial services authority, has created a new entity; RedWhiteBlue Digital Marketing Services with the agreed share price expected to be paid by Creston on 20 December. Alex Paiusco, CEO of DBAY said: "We have been significant investors in Creston for over two years and are excited about this opportunity to help develop the business, alongside its management team and employees, and to fulfil its potential. The Acquisition is the culmination of our progressive interest in Creston and we are very pleased to have reached agreement with the Independent Creston Directors on an attractive cash proposal for Creston Shareholders". |
Posted at 26/10/2017 15:10 by edmundshaw That note does not even mention the potential effect on margins from the active investor DBAY, who hold 26%+ of the shares. Dbay are surely going to try and extract more value for investors using their clout with the board. |
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