Share Name Share Symbol Market Type Share ISIN Share Description
Harvey Nash Grp LSE:HVN London Ordinary Share GB0006573546 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +0.56% 89.00p 88.50p 90.00p 89.00p 88.75p 89.00p 82,147 11:17:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 784.3 8.5 8.2 10.8 65.37

Harvey Nash Grp Share Discussion Threads

Showing 4301 to 4325 of 4325 messages
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DateSubjectAuthorDiscuss
12/9/2017
21:38
Sophia I think that sums up the investment case pretty well. I have held this for 9 years now without a break, and what with dividends and slicing when the price went up and adding more when it went down, I have ended up being paid to hold the shares! However, I have no particular attachment to them, I continue to hold only as the value continues to be not fully realised (in my view), as it has for most of those 9 years. One of my most comfortable investments. I think consistency of business returns is often under-rated.
edmundshaw
12/9/2017
20:25
HVN is more boring but also more stable than other recruiters. Although they have increased the dividend every single year since 2007,I think that the management could do better in terms of creating shareholder value and I am happy to see DBAY involved. Their involvment sounds like a catalyst to me which could lead to the company being acquired by a bigger player. All in all, I do not see why HVN should not trade at at least 120p even with very moderate growth and before the positive impact of Crimson.
sophia1982
12/9/2017
11:30
In fairness to HVN it's SII has actually had a minor gradual decline the last 5 years. Normalised earnings a bit choppy and lackkustre in growth despite its top-line increases. If it can complete re-positioning and integrate this acquisition and return some growth to EPS then its already low PER and other valuation metrics will surely warrant a re-rating. Of course against my negative comments on EPS growth there has been significant dividend pay-outs. This has seen very good, consistent growth AND the cover has been well- maintained and managed too. I think the moderate EPS growth has to be measured against both the big dividend payouts and the wider sector diifculties during the period also. I have normailised EPS forecast at 10.5p per share, with no debt. Would a moderate rating for falt growth be applicable? say 12x earnings? Thoughts on reasonable target price?
thorpematt
12/9/2017
10:01
Yes, share-based considerations always a 2-edged sword. Cash based is more like a reinvestment of profit without taking from shareholders.
edmundshaw
12/9/2017
09:49
The terms are useful because they are spread across a decent time span, so dilution and debt not inflated - which I think was a fear for the market with HVNs aquistion strategy. Price-wise you really have to look away from any tangible asset type model with these stocks - it's about profit and cashflow. Crimson's net margins are very tidy...actually HVNs are better than they look if you take out those prior aquisition costs but nevertheless this should add some nice earnings.
thorpematt
12/9/2017
09:29
Looks a nice acquisition, I agree. Interesting terms! But does not seem expensive however you look at it.
edmundshaw
12/9/2017
08:51
Thanks DB - makes for pleasant reading :)
gleach23
12/9/2017
08:51
Cheers dave.
shauney2
12/9/2017
08:47
Zeus initial comment;  Valuation: The Group trades at notably lower multiples to its UK recruitment sector peer Group. An FY18 EV/EBITDA of 4.5x failing to 3.4x in FY19 represents a 45% discount. On an PER basis, the Group trades on 7.6x FY18 earnings, a 37% discount. Our blue-sky valuation assuming the Group can reach £17.5m 20.0m of EBIT implies a share price of 165-175p, a potential upside of >50% to current levels. We believe the shares offer a compelling entry point for a company with an established track record of performing across the cycle, a cash generative business model and a solid balance sheet
davebowler
12/9/2017
08:41
Market likes it too. Nice little bonus to exit my latest trade today. Holding the rest for what looks to be an interesting development.
gleach23
12/9/2017
08:20
Acquisition of Crimson,an IT solution and recruitment company for cash "transformative acquisition" they say.Maximum pay out of £15m.Seems like a nice fit.
shauney2
08/9/2017
13:57
Very quiet here. Plenty of trades at this 80-82 level in recent days and many of them AT type. Makes one wonder what the DBAY position is currently. Interims on 28th of this month. Meanwhile I've been trading this between 80 and 85 to pass the time.
gleach23
13/7/2017
15:53
I think DBay are n for the long term and will buy you out
abcurtis
13/7/2017
15:14
I'm in for the long term.
heapos
13/7/2017
13:40
My average price here is negative as it happens after selling high and buying back low, but I try not to consider that one way or the other. It is the future prospects that count. Success here is always balanced by failure elsewhere anyway, and what you originally paid for a share should be irrelevant. I only want to be in if I would be happy to buy at or a bit below the current price. I still see some upside in dividend and absolute gain terms, so I stay in.
edmundshaw
13/7/2017
13:38
Ironically one of the frustrations I have tended to find with HVN is that, whenever one geographical outperforms, it is held back by another region underperforming. Also outperformance being counteracted by FX movements. But I suppose it could be argued that this is one of its attractions. A smoothing out of performance. The frustration is that it never really seems to make any real headway. There's always something holding it back. Perhaps DBAY can help address this.
speedsgh
13/7/2017
12:59
that maybe the yield at this price abcurtis but my yield is on an average buying price of 36p at the beginning of 2010 I bought for capital growth then but I'm holding for the yield now
jon123
13/7/2017
12:46
Mixed feelings about DBay. They were involved in Creston, for I think a year before taking it private at a time when it looked to me that things had started to turnaround. That meant DBay benefitted from the ongoing improvements. We all got a one off uplift in the buy out, the uplift was not as good as other buyouts I have had. My crystal ball says DBay do buy out the company to take all the improvement benefits and we end up not being the happiest people with the price
abcurtis
13/7/2017
12:12
speedy, my thoughts pretty much; though I think HVN have got a lot right in the past. The issue is how much of that success gets passed on to shareholders, hence potential upside from activist shareholders.
edmundshaw
13/7/2017
11:19
abcurtis - History would suggest that there is nothing exceptional about the HVN board's abilities that would lead to outperformance against peers imo. The question is whether the stake built by DBAY offers further upside either via their influence as an activist investor or by them taking over HVN; remember they took over Creston at the end of 2016 so there is a precedent there. "Low unemployment should help but low growth GDP won't." I assume your comment relates to UK only? Worth bearing in mind that HVN operates globally with UK & Ireland representing just over 37% of total gross profit in recent results.
speedsgh
13/7/2017
10:56
Yield is 4.17% at this price, there are other bond proxies offering this yield. So new buyers will be looking at it for capital growth. Low unemployment should help but low growth GDP won't. Does the management have exceptional abilities to grow the business? Don't know, but they did write off/dispose of something last year. Hopefully Hays comes along with a bid in my view or DBay are active on the board and improve productivity.
abcurtis
13/7/2017
08:32
mmmm motoring this am my short term bowl target is 110 but there is a longer larger bowl to 125 which is an all time high I'm in no rush to sell I like the income too much lol
jon123
10/7/2017
15:43
I've decided to take a profit. Bought at just below 60p and sold at 98p. Not bad for 9 months given there's been dividends as well. I bought it as a QVM Stockopedia trade with a view to holding 6m or so. Was going to sell before it went XD but the price was holding up well. Think it may be looking a bit overbought after today's strong rise. It's not a sector that I want to hold long term, but its a good solid company. Will keep watching as may be worth buying back if it drops to low 80s and the upward price trend holds-up. Think there is a relatively high possibility of a bid from DBAY and I would guess that 125p or so is a likely price.
topvest
10/7/2017
13:21
YES! well spotted. This give us a remarkably low forward PER and consequently a very low forward PEG
thorpematt
10/7/2017
12:55
Looks like broker forecasts have recently been upgraded from 9.1p to 10.4p.
topvest
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