Lookers Share Discussion Threads

[daz1712] 18/3/2021 09:33

Good update, safe bet all the way up IMO, bouncing like all stock, EPS going to be 10p plus from now on

[cheshire man] 18/3/2021 09:11

Market like's the update :-)

[daneswooddynamo] 18/3/2021 08:12

Opportunity knocks

[sphere25] 18/3/2021 08:06

That is some turnaround.

Market looks behind in terms of re-rating the road to recovery here.

All imo
DYOR

[farrugia] 18/3/2021 07:57

lovely - i have quite a number of these, it needs to climb quite a lot more.

[flyfisher] 18/3/2021 07:29

Excellent update today, it shows second half underlying earnings of £46m and 9.4p eps.

Current forecasts are for 4.7p eps in 2021, which seems way too low given the second half figures, which also had a month of lockdown in them.

I expect some strong broker upgrades will follow.

[woodwards26] 17/3/2021 22:47

Please jabers stop this

[wobbly123] 17/3/2021 17:21

I don't respond to idiots.

[jabers1] 17/3/2021 16:46

The resident 🤡🤡🤡 returns... WOBBLY123 who famously posted his new price target was 5p.

This is the same 🤡🤡🤡 that ran away as soon as i offered him a match bet that the stock would open up higher than 20p when trading resumed, the 🤡🤡🤡 was posting that it would drop to 5p.

Lets see where he disappears to when we see the H2 accounts and trading update in April or May, in the interim keep an eye on some of the bigger dealer announcements due out in the next 3 weeks...🚀
28640;🚀

[wobbly123] 17/3/2021 13:30

woodwards26,

Hear what you say. Takes a seller to match a buyer.

I am happy to short if they get to 55p, if not to stick with the 50% of my original shorts.

[woodwards26] 17/3/2021 13:26

Wobbly you could be right to short now it could well bounce between 40 and 50 for the next few weeks.But I don't see that lasting into April when good news about the uplift in car sales in my opinion will lift it to above 50 with the next hurdle 60 plus plenty of rumours about a management change at senior level that could take place around 8th April . So Spring , lockdown relaxed, pent up demand , possible strengthening of management I don't think much to be made with shorting in April but maybe you will later into year as normality returns and it starts to bounce around 65 to 75 unless something else like Bramhall selling or another lockdown happens

[woodwards26] 17/3/2021 12:57

So far manufacturers on line sales are directed through a local or nominated dealer

[wobbly123] 16/3/2021 16:26

Daz1712,

When you short around 60p, close half at under 30p, you have a free ride.

Biggest concern for me is the move to online, as well as Cazoo & Cinch we have Volvo looking at selling direct to save the % paid to dealers, others will imo follow them.

The value of Lookers Bricks and Mortar is open to opinion, something is only worth what someone is willing to pay, if manufacturers move to direct sales, who will want the showrooms?. In a lot of places numerous car dealers are all located next to each other, making selling the land/buildings more difficult.

Everything is about opinion for every seller you need a buyer. Happy to enjoy the free ride at present but also happy to short at 55p

[sphere25] 16/3/2021 15:45

As per the post above, that is now three lots of 250k sells mopped up at 49p. There are also smaller prints hitting the book at 49p off the LSE and alot of sells hitting the book earlier at that price (including a barrage of smaller AT's from 10:48 to 10:54) where buyers are happy to pick up shares from sellers.

Can the sellers be exhausted here?

All imo
DYOR

[daz1712] 15/3/2021 18:57

Thought you would have learnt from your previous errors of shorting this stock wobbly?
Any insight into your statement of 55p?
The stock will rise with the trading updates and results over the next 12months EPS will be 10-15p over the next 2 years so on a forward earnings ratio, work it out.
The only downside I can see is the current move from bricks and mortar dealerships to online Cazoo and Cinch are investing millions into used, but they have no after sales support which Lookers are already making big profits from.
Luckily for Lookers they own their bricks and mortar so a shift to online is not much of a concern for stakeholders at 50p-£1 per share

[wobbly123] 15/3/2021 15:02

I would be a big shorter at 55p +

[sphere25] 15/3/2021 14:41

Price currently 50p.

So here we are again, once more farting about with psychological levels that have no bearing on valuation, but carry such mental market prowess that prices have to stop or notable exchanges have to take place at such price points.

These psychological price points never cease to amaze. Naturally we hone in on the ones that we are involved with and can generally have a tendency to note them more, but it still happens far too often to not be some form of market phenomenon.

Can the sellers be exhausted at these levels?

Noted buyers coming in just below 50p, down to around that 49p with a normal sized mop. If the price can sit and exhaust them here, and do a similar flatline consolidation prior to this pop higher, it should really be setting up for another leg higher.

60p in a bullish market like this was what was in mind as a short term target, but clearly that is conservative compared to many on here.

All imo
DYOR

[wobbly123] 15/3/2021 08:23

woodwards26,

Correct

[woodwards26] 14/3/2021 20:43

Lookers did whatever they did and whoever did it would be trying hard not to be found out The auditors were fooled just like the management were. Where the auditors asked for supporting documentation regarding anything they found lookers would have provided it.But an enquiry should show up how they were duped and if they had conducted the audit procedures correctly.But far too soon to blame the auditors for r something they didn't spot

[wobbly123] 13/3/2021 09:37

Obviously not everyone understands auditing

[jabers1] 13/3/2021 09:01

Lookers spent millions fixing the shortcomings of what Deloitte was being paid to do, i certainly would expect Lookers to file a claim of incompetence against Deloitte and they recoup these costs.

At the end of the day if Deloitte had done what Lookers were paying them to do, they wouldn’t have been in the situation they found themselves in...

[woodwards26] 13/3/2021 08:24

https://www.am-online.com/amp/news/supplier-news/2021/03/12/uk-s-accounting-watchdog-opens-investigation-into-deloitte-s-lookers-audit

[daneswooddynamo] 11/3/2021 08:28

The problems at look means the market is wary but that is of course the opportunity

[woodwards26] 11/3/2021 08:16

Historically they've traded at approx double of Vertu for many years so I would expect them to be around 70 fairly quickly and be moving between 65 to 75 as the press give good / bad news about the motor trade over the next year.This is without any bid type activity and just my opinion as a retired motor trader