Management Consulting Share Discussion Threads

[scumdog] 08/6/2007 21:47

ADVFN have the no. of shares in issue at 189.79m whereas the company announced shares in issue of 271,100,804 on 30th April 2007.
I was wondering why the market capitisation at £95m was so low!
£135m is a bit more like it - but still very reasonably valued at 10x 2006 PBT.
The share price has significantly underperformed the FTSE All Share Index over the last 5 years (see page 40 of the 2006 annual report).
Anyone know the reasons?

[kneath] 31/5/2007 08:12

QS9 - It's not a case of it being strong now - it's more a case of it having been exceptionally weak and moving toward it's true valuation.

[qs9] 25/5/2007 15:33

Looking very strong recently, anyone got thoughts on why the sudden pick up? Does look cheap IMO on fundamentals alone but no newsflow for a while expected??

[kneath] 24/5/2007 16:30

Yup - I have to travel to Bristol for a shareclub once a month. Worth it though - great bunch of guys! MMC starting to climb - 58p is my breakeven for this tranche. Bought when I was new and naive! The lot I sold I bought for 41p so I'm technically up either way. Been a long old haul though!

[welsheagle] 23/5/2007 19:40

From Cardiff - Not many Welsh seem to be interested in shares - we are a bit of a rarity.

[kneath] 23/5/2007 16:01

Welsheagle: I assume you are not an eagle, but are you in fact Welsh? If so from where - being a Swansea chap myself?

[welsheagle] 19/5/2007 19:26

From May's 'Company Refs', when price was 48.5p:-
a/ Prospective PE ratio of 7.99 (based on four broker forecasts, three recommending 'buy', and one recommending 'overweight').
b/ Forecast growth in eps of 15.3%.
c/ Net asset value per share of 41.4p.
d/ Dividend yield of 2.20%.
e/ Turnover up from £107m to £147m in last five years.
f/ Price to sales ratio of 0.70.
g/ One Director buying recently.

[kneath] 17/5/2007 15:09

Sold half my holding at a decent profit. Remaining half I currently hold at a loss. Ho-hum! Will dump them at earliest decent opportunity. Bored to death with MMC and can never understand the volume patterns!

[qs9] 28/4/2007 09:51

Evo have upped their price target, encouraging...

[pobpob] 27/4/2007 13:11

the boredom got to me and i sold yesterday (for a tidy profit) will be watchin closely tho.. drop to 44 and i will be back in quick. I still think this share is very cheap.

[uncleoswald] 27/4/2007 09:20

"Group revenue for the first half of the year is anticipated, on a like for like basis, to be in line with last year"

'On a like-for like basis' - what implications does this have for actual revenue? - more or less than last year?
No mention of profits compared to last year.
If EPS are the same as last year at 2.9p , (based on the same revenue), then this share is cheap, but can we infer that?
Comments welcome.

[welsheagle] 26/4/2007 19:36

Evolution have reiterated their 'buy' recommendation with a target price of 60p.

[martinc] 26/4/2007 15:55

"Parson Consulting continues to lack good visibility "

What on earth does that mean? Is it management speak? Is it foggy where they are? Have they run out of light bulbs?

[pobpob] 26/4/2007 14:07

true kneath the statement is not "good" and the points you mention are bad, but its not like a profit's warning and if they make the profit they are forcasting then this company is still well undervalued. (personally i am getting a bit bored of this share and im starting to think my money could be better invested elsewhere! lol)

[kneath] 26/4/2007 12:52

pobpob: Nothing bad in that statement:

"Group revenue for the first half of the year is anticipated, on a like for like basis, to be in line with last year"

"The US dollar and Euro have depreciated by 21 cents and 4 cents respectively
against Sterling compared with the comparable period of last year. The vast
majority of our revenue is billed in these two currencies. Consequently, the
reported revenue is adversely impacted by the translation effect"

"Parson Consulting continues to lack good visibility which makes the outcome for the year difficult to predict. Investment in people has continued in the United States which remains below scale"

Do you mean including or excluding the above. Incidentally I do appreciate there are positives in the statement, but the above hardly merits the description "nothing bad". What the bad does is diminish the good, particularly when they can't quantify either as it is "too early". Personally I think it is a very average statement and not worthy of investment to newbies as there are so many better options available - as much as it pains me to say. As a holder, I hope I am wrong.

[scotswhaehae] 26/4/2007 12:05

...well the shares hit c65p this time last year...and the business is in much better shape now with substantial improvement continuing...

Looks good to me!

[pobpob] 26/4/2007 11:41

dont think theres anything bad in that statement, i personally think the price will now start to move higher.. if slowly

[kneath] 26/4/2007 10:21

Scots - valid point. Bloody price down again. Just to break 50p would be nice. We just keep hitting that ceiling.

Edit: Aah, that RNS might account for it! Looks like in for the the long-haul again if we are to see some material growth.

[scotswhaehae] 26/4/2007 09:21

Look at it positively guys...how was a big buyer to find stock without bidding a big holder?!

And these deals were done on rising prices!

Bodes well imo!

[pobpob] 26/4/2007 09:16

Hi kneath.. yes would have been the reason for some of the high volume and yes it would of held the price back.. now thats cleared any decent buying should see a nice rise

[pobpob] 26/4/2007 07:58

yeh that was last week tho Kneath.. shouldnt affect the price now

[scotswhaehae] 25/4/2007 13:40

Adjusting for the divi this looks to be at breakout...

Should rise fast imo...fully deserves a 20% up run imo...

Good luck all!

[penpont] 24/4/2007 16:46

Yes, In a very poor market this is indeed encouraging.