Homeserve Investors - HSV

Homeserve Investors - HSV

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Stock Name Stock Symbol Market Stock Type
Homeserve Plc HSV London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
3.50 0.42% 830.50 16:35:26
Open Price Low Price High Price Close Price Previous Close
825.00 822.50 837.00 830.50 827.00
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3rd eye: Comment from TMF........... Positive reaction Shares in home emergency, repair and installation services provider, Homeserve (LSE: HSV) have also shown great momentum over the last year. Priced at 463p exactly one year ago, they changed hands for 700p before today — a corking 51% rise. In the 2016/17 financial year, the Walsall-based business recorded a 24% increase in revenue to £785m and pre-tax profits of £98.3m — a climb of 19% on the previous year’s figure. Growth overseas was particularly impressive with record performance achieved in North America. Over the last year, the company has managed to pass the 3m customer milestone, sign up 100 new partners and increase adjusted operating profit by 75% to just over £21m. Customer numbers in France and Spain also rose, by 4% and 7% respectively. Looking to the future, the £2.2bn cap is expected to post earnings per share growth of 18% next year, leaving the stocks on a P/E of 23. That’s pretty rich by most investors’ standards. Nevertheless, with such superb numbers being revealed today, I think this can be justified. Judging by the 12% jump in its share price this morning, the market would seem to agree.
discodave4: PsMasurenguy "they have come through this whole escapade without a major impact on their credibility"They have lost 30% of their Uk customers to-date, the scale of the fine will undoubtedly lead to a further loss of customers (in the UK & elsewhere), it's likely to initiate fresh additional mis-selling claims and their reputation will be damaged for a long long all in all IMO credibility has been severely damaged & I am still at a loss to understand the market reaction, but then again have never understood it.Am not de-ramping as have been an investor here in the past & held for many good years (sold out about 18 months ago).Good luck all.DD
funddamager: There's a Interim Management Statement next week on Wednesday 6th Feb. Will be good to get an update from the company.
masurenguy: I concur with that view on institutions too kristini2. Not looking good for CPP but it is in a different scenario to HSV. There is a bit of a parallel situation between the duplicated fraud insurance cover and the duplicate water pipe cover. However the latter has not been considered to be so serious by the FSA due to the variations within different building insurance policies and therefore customer compensation has not been required. I don't really think that the corresponding knock on effect, in terms of sentiment, will last very long here. CPP faces race against time after shares suspended Credit card insurer CPP will hold talks with the City regulator over the next two weeks in a desperate attempt to safeguard its future. Shares in the company were suspended on Monday after an order by the Financial Services Authority (FSA) that CPP must take steps to compensate customers the regulator believes were mis-sold credit card and identity protection. The order was issued on Friday afternoon and followed a year-long investigation. The FSA is known to harbour concerns that some CPP customers were sold the identity theft products on the premise that they covered the loss of money fraudulently taken out of bank accounts. In fact, what CPP's insurance actually covers is the administrative costs of dealing with identity theft. The regulator has also expressed concerns about the group's card protection product. This offers customers a one-call service that cancels and re-order cards, replaces keys and even provides emergency cash advances. However, the FSA believes the presence of fraud insurance cover in this policy is misleading because it is something already provided by most card issuers. In a statement on Monday, the FSA reiterated its "serious concerns about the manner in which customers were being sold identity theft and card protection policies by the firm". In response, CPP said a "past business review" was "appropriate". However, the company's board said the potential cost of compensating customers could hit it heavily - even leading to the collapse of the group, which employs almost 2,000 people in 16 countries. Paul Stobart, chief executive, who joined the group after the investigation was first announced, said CPP had already taken steps to improve its customer service processes. He agreed that steps should be taken to compensate customers, but warned: "If we cannot find a middle ground with the FSA then the future of the business is under threat. If we are given the chance, we will redress those customers affected." The number of customers likely to qualify for compensation will be discussed over the next fortnight. The news is the latest blow to a company that has seen its shares fall by more than 60pc over the past 12 months. Last week, the credit card insurer said it had lost a contract with Barclaycard, which comes up for renewal at the end of next month. At the time, the company said policy sales to Barclaycard customers were estimated to be less that 1pc of group revenue and that the impact on it profits from the loss of the contract would not be "material". However, Barclaycard had already suspended the sales last year of some of CPP's identity theft products. The next two weeks are likely to be pivotal for the group and its investors. About 57% of the FTSE 250 group's shares are controlled by its directors, including founder Hamish Macgregor Ogston. A further 17% is owned by Schroders, with other shareholders on the register including Invesco Perpetual. Shares suspended in CPP as its warns about FSA review The card and identity protection group CPP has claimed the Financial Services of Authority could put it out of business after the City regulator demanded a massive review of past sales to identify how much mis-selling went on. It ordered the suspension of trading in its shares yesterday. CPP has been accused of heavy-handed selling tactics, particularly when it came to describing the potential risks of identity theft. The regulator said: "The FSA has serious concerns about the manner in which customers were being sold identity theft and card protection policies by the firm. In March 2011 CPP stopped selling identity protection products to new customers and has since also amended its sales scripts for the card protection product. "Now, as part of the FSA's ongoing investigation, it is likely that the firm will be required to carry out a past business review of the direct sales it made for both products and, if appropriate, pay redress. "We are in discussions with the firm about the scope of such an exercise." CPP has 4.5 million UK customers and does not deny that some of its customers were mis-sold either card protection, which costs around £30 a year, or identity protection at £80 a year. The company first said it was under investigation by the FSA in March 2010. Paul Stobart, the chief executive, said: "The business review which the FSA is calling for is disproportionate. So much so that it threatens the viability of the whole business. That means not just our shareholders but also more than 1,300 who work for us in the UK." He declined to say what percentage of its 4.5 million customers the FSA had asked it to go back and review. CPP received a phone call and then a follow-up letter from Georgina Philippou, the head of retail enforcement at the regulator, on Friday evening. CPP shares were suspended at 103p. Before the FSA investigation was revealed last year they stood at 310p. Mr Stobart did not deny that mis-selling had taken place in the past. He said: "We are deeply apologetic to those customers who were mis-sold and will compensate them. We have also acknowledged that a past business review is appropriate, but the scale the FSA has asked for is not appropriate. It would be hugely costly and at the same time the longer this goes on the more difficult it is for our business partners."
mechanical trader: Stock was tipped in Investors Inteligence today as a short and added to their portfolio..... Homeserve - is a weak stock and should be shorted. Prices are encountering massive overhead resistance and the path of least resistance is therefor south. Portfolio Update: We open a short in Homeserve on its profound price weakness
masurenguy: RNS Number : 8316T 13 December 2011 HomeServe plc - UK business update: New UK affinity partnership HomeServe announces today that it has agreed a long-term partnership with Sembcorp Bournemouth Water (SBW). The addition of SBW as an affinity partner increases the number of HomeServe's UK water utilities partners to 15 covering 23.5m UK households. Under the agreement with SBW, HomeServe, will promote its home emergency and repair policies, using SBW's brand, to over 200,000 residential households as well as Bournemouth's existing 10,000 home emergency policyholders. Richard Harpin, CEO of HomeServe plc, commented: "We are pleased to have signed a long-term affinity partnership agreement with Sembcorp Bournemouth Water enabling HomeServe to further extend its UK water utility footprint." Roger Harrington, managing director of Sembcorp Bournemouth Water said: "We're delighted to be partnering with HomeServe, to offer our customers the peace-of-mind that goes with HomeServe's market-leading home emergency and repair service." UK update As previously announced HomeServe is implementing its action plans to reinvigorate its UK customer focus. The UK business continues to make good progress in recommencing its sales and marketing activities. Inbound activity has now increased to cover around 70% of UK affinity partner households and preparation is well underway for the January marketing mailings. As we mentioned in our interim results, we have undertaken a review of our complaints handling function and appointed a new Director of Customer Relations, reporting directly to Jonathan King, CEO of HomeServe Membership Limited, to make recommendations and improvements in this area. We now intend to outsource our complaints handling function in early 2012, reflecting our commitment to ensure customers receive at all times the high standards of service that we and they expect. Conference call A conference call for analysts and investors will take place at 8.30am this morning. The conference call can be accessed by dialling +44 (0)20 3140 0668 and pin code 115260#. A replay of this call can be heard by dialling +44 (0)20 3140 0698 and pin code 381536# later in the day for a period of 2 weeks.
nasprey: Like many of you, I've been watching this stock like a hawk over the last 2 months. I can't see this going much higher than 300p any time soon, The massive drop from a few weeks ago is still fresh in investors minds and IMO the recent increase from circa 225p is unjustified with buyers blindly following Invesco. Only a month ago the share price managed to dust itself off and clamber from 250p all the way back up to 340p before very quickly tumbling even further 210p. Simon Cawkwell hates this stock and is convinced it's about to fall off a cliff. I agree with him. Back in November he recommended a Sell down to 150p (albeit before the Veolia acquisition) but that whole Veolia deal does nothing for me: "Veolia's decision to sell its 51 per cent stake in the joint venture comes as the French company struggles to turn its business around. Earlier this year it announced an €800m writedown, owing to problems in its US, Italian and north African businesses." "Shares in Homeserve rose 5.5 per cent to 270p, while Veolia's share price was largely unchanged at €9.41." "Last week the troubled home repair and insurance company revealed a £10m one off charge and £10m in additional annual costs for retraining sales staff and broader changes to UK marketing. It also said renewal revenues would fall in 2013." Homeserve's Claims Director Simon Pook has also 'Jumped Ship' to join Ai Claims Solutions. Whether or not that is a necessarily a bad thing is debatable. "Mr Pook added: "After just over six years at Homeserve, I am delighted to be joining the team at Ai." "Homeserve had to suspend all sales in October temporarily following a mis-selling review, however a spokesman for Ai Claims confirmed that Mr Pook was not involved due to his position on the claims side of the company." "Prior to his two years as claims director at Homeserve, Mr Pook spent four years as Homeserve's international business development director and seven years in senior director roles at retailer the Game Group." I'm going with Peel Hunt for the time being, 220p then even lower after Xmas IMO.
kristini2: bizarre the buying of these shares.......... tommorrow we will see whether the selling picks up as investors secure the divi they have been waiting for?
grahamburn: SERIOUS investors and SERIOUS critics/downers/shorters should invest an hour of their precious time to listen to the company's results presentation followed by a thorough question and answer session with knowledgeable analysts (as opposed to lightweight bulletin board posters). (Easily accessed on the Homeserve website.) After doing that, then a serious and informed discussion could ensue on this board based on genuine facts and information. Of course, facts and information can still be open to interpretation depending upon where individuals start from and their level of expertise, but at least inuendo and rumour should be minimised.
nasprey: "Last week, home repair and insurance group Homeserve voluntarily halted its sales operations over fears that policies may have been mis-sold. Since then, the group has said nothing more, but further revelations have appeared elsewhere and the shares have almost halved. This isn't good enough.." "...the reputational damage could seriously undermine Homeserve's US growth ambitions, which are core to the investment case for its shares. And the whole business is hardly a good advert for the group's investor relations. SELL".
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