Hichens Harrison Share Discussion Threads

[tadtech] 23/5/2007 10:10

On fundamentals still cheap. With all the recent corporate action surely HICH will report exceedingly strong growth in due course. Still only on forward PE of around 13.

[bigbigdave] 23/5/2007 08:10

No stopping this. Should've bet the house on it.

[tadtech] 22/5/2007 09:01

Breakout continues. 425p target still on track and that a conservative figure based on EPS of 17 forward. With all the corporate activity going on this could well be exceeded.

[jakleeds] 22/5/2007 08:56

Morning all :-)

[nurdin] 22/5/2007 08:33

Looking perky this am...:o)

[tadtech] 21/5/2007 13:31

Buyers still accumulating today. Still looks cheap compared to peers.

[tadtech] 18/5/2007 10:36

Continued re-rating. Must be acute stock shortage. On any volume buying this could fly 30/40p in a day. Could see some more press coverage too considering the Co's growth and current low rating.

[tadtech] 17/5/2007 08:44

Assuming earnings of a conservative 25p and on an equally conservative PE of 17 would equal a share price of £4.25p. Growth though could be much higher than expected.

[cockneyrebel] 17/5/2007 08:32

Making a new high - looks like another sharp leg up starting imo

CR

[tadtech] 17/5/2007 07:42

nurdin.

With my postings I have tried to be conservative on future earnings to indicate the real value. I agree we could well be surprised, especially considering all the corporate activity taking place.

[nurdin] 17/5/2007 07:32

Tadtech...I reckon they are on course to do £6m pretax which should generate earnings of 28p,assuming 30% tax charge and 15m shares in issue.That puts the shares on current year PE of 11 which is a huge discount to its peers.If they mainatain the growth momentum the PE could easily fall to 6-7 for the following year imo

[tadtech] 17/5/2007 07:17

Yes they failed to mention the 150% growth and current forward PE of 13 which is some 50% below its peers! However the article will bring even more attention to the company and its low rating.


From the Final Results statement


"The current year to date has seen the establishment of an extremely strong
platform that makes the Directors confident that the growth rate shown in 2006
is set to continue"

[chester] 17/5/2007 07:14

Yes, Thanks Stegegro.

[nurdin] 17/5/2007 07:13

Thanks Stegrego...shame they quote the historic pe rather than the forward pe.Nevertheless the article should bring HICH to the attention of a wider audience...could be an interesting day today....;o)

[stegrego] 17/5/2007 00:20

Shares Mag - Set to Fly


Hichens, Harrison & Co
(HICH:AIM) 301p
Sector: General Financial
Market cap: £45.2 million
3-month relative strength: 56.5%
1-year relative strength: 25.4%
A 2006 PE of 26 implies the stock has been
highly valued and a decent rise above the
FTSE All Share suggests the company is
performing well on the market. But there is a
nagging feeling that its capabilities are not
fully recognised. Hichens Harrison is the
oldest surviving broker in the City – the firm
was operating before 1803 – but it stands in
the shadows of its competitors, which is a
shame, as it is expanding rapidly and looks
like going on to bigger and better things. The
firm recently ended a three-year run of red ink
and is currently seeing strong trading,
especially in its contracts for difference
division. Hichens finished 2006 with 52
corporate clients, having raised over £150
million for them over the course of the year.
That compares with the £90 million it raised
for just 36 clients during 2005. Another string
to Hichens's bow is its expanding overseas
operations, which include bases in Asia,
Dubai, South Africa and South America.
These offices are starting to send meaningful
business through to the London HQ. The
pipeline of foreign deals is good and investors
should expect them to represent a growing
proportion of group revenues.

[tadtech] 16/5/2007 15:24

Buyers still nibbling away at the full offer currently. Looking good for another tick up. Broker trade earlier could indicate stock shortage.

[tadtech] 15/5/2007 14:16

Further to above the HL shares surged 30% on the first day of dealing making the forward PE 27. More than double that of HICH currently.

The City seems to have an appetite for this sector.

[bigbigdave] 15/5/2007 10:32

Dip didn't last long, onwards to 4 quid 8-)

[tadtech] 15/5/2007 10:00

Look how the Hargreaves Landsdown offer was priced compared to the value here.
It was according to the RNS 'many times' subscribed at a price at the top end of expectations selling at a forward PE of 21.

At £3 HICH is selling on only 12 times estimated forward PE.

[gswredland] 14/5/2007 17:35

absolutely stegrego;as you imply it is nothing really!

[stegrego] 14/5/2007 15:08

Bit of perspective here....

Its 1% down - first time in a month or more.....

[tadtech] 14/5/2007 14:54

Always a problem when the shares hit the fast movers board a few make a quick buck and exit.

With the rumoured Mid East investor sitting in the wings, a 150% growth rate and ongoing expansion these will not drop far IMO before a strong rebound.

[nurdin] 14/5/2007 14:45

Yes very quiet here...bored are taking profits by looks of things.

I believe a major acquisition is on the cards and could be announced soon.Reckon those selling now will regret it in a few weeks time...all imo