Intermediate Capital Share Discussion Threads

[evox] 13/7/2010 19:48

Thanks tf. Brokers stating the bleedin' obvious as usual but it gives the share price momentum so not complaining.

[trendfloor] 13/7/2010 15:48

13-Jul-10 Intermediate Capital Group ICP Evolution Securities Buy 273.00p - - Reiteration

[trendfloor] 13/7/2010 10:15

Brokers all backing it.......

miserly P/E of just over 10 for 2011, much further to go.

Intermediate Capital Group PLC

FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Numis Securities Ltd
09-07-10 BUY 144.90 25.20 17.82 234.70 40.80 22.82

Shore Capital
09-07-10 BUY 133.40 24.00 17.00 167.40 30.20 18.00

Collins Stewart
09-07-10 BUY 31.60 35.80

The Royal Bank of Scotland NV
08-07-10 BUY 122.18 21.70 17.00 162.21 28.81 20.00

Evolution Securities Ltd
15-06-10 BUY 183.80 32.40 17.50

Execution Noble [R]
26-03-10 BUY 78.70 14.20 17.00 119.90 21.60 17.10

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 133.12 24.58 17.15 164.76 32.90 20.00

1 Month Change -11.78 -2.01 -0.35 -69.94 -5.41 -2.82
3 Month Change 24.04 3.16 0.04 0.47 -3.45 1.04


GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS % -9.55% 33.85%
DPS -46.94% 18.30% 16.59%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £116.00m £57.77m £87.20m

EBIT £112.90m £m £m

Dividend Yield 5.45% 6.45% 7.52%

Dividend Cover 1.87x 1.43x 1.64x

PER 9.78x 10.82x 8.08x

PEG f -1.13f 0.24f

Net Asset Value PS 303.35p 310.09p 319.97p

[trendfloor] 13/7/2010 10:12

ICG encouraged by continued improvement
StockMarketWire.com

Intermediate Capital Group is encouraged by the continued improvement in the operational performance of its portfolio companies since year end.

The firm says that at it most recent quarterly portfolio review (QPR) in June, 64% of its investment portfolio companies were performing at or above the prior year level, up from 59% in the March QPR.

No new assets of concern were identified at the recent QPR.

Story provided by StockMarketWire.com

[evox] 13/7/2010 08:42

Good results prior to xd tomorrow.

[wilksey1] 23/6/2010 07:14

are these worth a buy anyone

[utsushi] 20/5/2010 15:43

Thanks Stevie.

[stevie blunder] 20/5/2010 09:21

Times 19th May:

Intermediate Capital was the biggest riser in the second tier amid chatter that the buyout debt provider was telling some in the market that it would beat current earnings expectations.

[its the oxman] 08/4/2010 23:33

302p close - nice

[its the oxman] 08/4/2010 08:27

bit left behind - catching up the move by other banks - should push through 300p

[stevie blunder] 23/3/2010 10:24

Aha! Thanks, silly me, how did I miss that. Hate it when they rebase the divi when there is a rights issue, Catlin did the same, then claimed they had raised the divi......

I had pencilled in the analysts divi, so no great disappointment. I will now go and dig out the Rights issue documentation if it is still availabe from the website.

Edit, actually I see I had only put 13.5p into my spreadsheet. so 17 would be OK.

[its the oxman] 22/3/2010 22:38

adjusted for rights issue i think div expected is in the region of 17p - still a chunky yield though

[stevie blunder] 17/3/2010 19:43

Good reaction so far to the change in strategy, well worth looking at the webcast.

[stevie blunder] 12/3/2010 13:18

Quiet board!

I bought a few at 243 or so, having lost a bundle on them before, I never learn ;-))

I note that they said last year that they could maintain a reduced divi of 41p, and a the interim stage they said:

"At year end, we rebased our full year dividend to a level which we believed could be maintained under current market conditions, and grow when our cash core income increases. Accordingly, the Board has approved a dividend of 6 pence per share."

which seems to reinforce the view that the full year divi will be 41p. Big yield. That is not what the analysts forecasts are saying though.

Their calendar says that they have an "investor's day" on the 16th (from memory) that could spark some interest.

[its the oxman] 12/3/2010 11:47

well overdue a run here - be nice to break back through and consolidate above 300p

[13matt13] 29/12/2009 18:10

This is another cert for 50% gain by end of year 2010, money being raised everywhere, banks not lending properly gives ICP as a Mezzanine Financing company extra ops to make a lot of money on their new investments to come.

[hywel] 17/12/2009 00:45

From Tempus in The Times last week:

Intermediate Capital

A day after Shanks disclosed a bid approach from Carlyle, a £975 million buyout by Apax Partners provided further evidence that private equity markets are returning to life. The deal - the purchase of Marken, which provides temperature-controlled transport of drugs, samples and clinical supplies - was the biggest UK transaction of its kind for more than a year.

But Marken will be marked by followers of Intermediate Capital as the biggest capital gain notched up by the mezzanine finance provider in its 20-year history. Intermediate backed the company's buyout two years ago and will receive proceeds of £170 million, £68 million of which is profit.

Intermediate said two weeks ago that it expected to realise cash from five of its largest investments within six to nine months, so Marken is a strong start. Medica, the French care home operator, is scheduled to float in Paris in February and bidders continue to circle Springer Science + Media Business, the German publisher. The returns from Marken also inspire confidence that Intermediate will be able to put its freed-up £170 million to good use when banks are looking to sell the companies they have been forced to take temporarily on to their balance sheets.

However, Intermediate's shares continue to trade at a 30 per cent discount to Numis Securities' estimate of net asset value if its nascent fund management division is ignored. Tempus recommended Intermediate as a "buy for the brave" in April - since when the shares have gained 68 per cent. At 284¼p, there is every reason to hold on.

[hywel] 08/12/2009 15:04

RNS out today, good news:

Intermediate Capital Group PLC ("ICG") announces the largest capital gain to be realised in a single transaction of approximately £68 million as a result of the sale of its equity and mezzanine investments in Marken Group Limited. Proceeds of this transaction to ICG PLC amount to approximately £170 million. The transaction remains subject to relevant anti-trust clearances. The terms of the transaction are not disclosed.

[its the oxman] 24/11/2009 08:37

decent enough results it seems, 6p div and hopefull outlook

[hywel] 12/10/2009 18:21

On our way back to £3?

[maplinrover] 20/9/2009 18:07

A small one. They've done well in the past and the recent cash injection gives them a chance to profit where others have overstretched themselves. It'll depend on the general economic climate - the so-called double dip would be a downsider but if the coming period of fragility doesn't cause too much harm they should do well in the long term.

[2ngh] 20/9/2009 17:27

You have a position or view here Map?

[maplinrover] 20/9/2009 17:21

No problem. Enthusiasm's a great gift to have.

[2ngh] 20/9/2009 17:01

Think I got carried away talking to myself!?!?!?