Share Name Share Symbol Market Type Share ISIN Share Description
Marshall Motor LSE:MMH London Ordinary Share GB00BVYB2Q58 ORD 64P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 151.50p 1,643 14:00:09
Bid Price Offer Price High Price Low Price Open Price
150.00p 153.00p 154.00p 151.50p 151.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Automobiles & Parts 2,268.95 53.14 63.80 2.4 117.0

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Date Time Title Posts
06/9/201811:55Marshall Motor Holdings PLC220
21/3/201813:44Marshall Motor Holdings INTERVIEWS-

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Marshall Motor Daily Update: Marshall Motor is listed in the Automobiles & Parts sector of the London Stock Exchange with ticker MMH. The last closing price for Marshall Motor was 151.50p.
Marshall Motor has a 4 week average price of 150.50p and a 12 week average price of 150.50p.
The 1 year high share price is 181p while the 1 year low share price is currently 144p.
There are currently 77,236,263 shares in issue and the average daily traded volume is 6,752 shares. The market capitalisation of Marshall Motor is £117,012,938.45.
this_is_me: The weakness in the car market is holding back the share price of this well run company.
55biker: Not sure what the asset backing ps was for PDG but compared to MMH the current share price seems so low maybe it might be looking attractive as a take over opportunity now? Think it would only need some good Brexit news to come out re: motor trade prospects and the share price might go north very quickly.
edmundshaw: Pendragon (PDG) results yesterday had an effect on the share price - albeit more muted than it might have been, but then the valuation of PDG was pretty toppy. MMH remains at a very low price and still compares very favourably with PDG. With a good and well covered dividend there is no real issue in outlasting a 6-12 month downturn in the new car market, assuming that reads across from PDG.
jeff h: N+1 Singer view:- Marshall Motors has announced the sale of its Leasing division to the Bank of Ireland for £42.5m. The disposal will be dilutive (of the order 13% in FY18) but significantly improves the B/Sheet, moving it to a pro-forma net cash position of £4.6m as at the half year ended in June. Full year forecasts for net debt of £53m (excluding the asset backed Leasing debt) will move to net debt of c£10m. The market had been looking at ‘total’ debt though including Leasing, and from that perspective the disposal is transformational, reducing forecast net debt from £116m to c£10m. As part of the sale various ongoing service and supply arrangements have been agreed with the buyer, meaning that there should not be any material loss of intersegmental synergy benefits for Retail in the short term. The improved balance sheet and financial flexibility positions Marshall well, both defensively and in terms of resource for any future growth initiatives or M&A, which the company again reiterates it is well placed for. Using our sum off the parts analysis we estimate the market had effectively been assigning a negative value of c£40m for Leasing. Today's disposal for £42.5m should therefore have a materially positive impact on the share price. Putting MMH on just the peer group average (i.e. incl PDG) would point towards fair value north of 200p, with increased scope for accretive M&A.
davebowler: Zeus; Marshall Motor Holdings (MMH) has confirmed it is trading ahead of expectations for the full year following a strong H1 performance, with a particularly strong first quarter driven by both modest LFL revenue growth and to a greater extent outperformance from the Ridgeway acquisition. The outlook further out is less certain with the board highlighting growing uncertainty in the new car market as reasons for a more cautious long term view, which is a view we concur with. That said, we upgrade our EPS forecasts in 2017 and 2018 by 6-7% and believe the current share price looks heavily discounted with the stock on a prospective P/E of sub 5x with the dividend yield approaching 5% and the current market capitalisation underpinned by property assets. Pre-close statement: MMH has issued a pre-close trading update this morning, which confirms that following a strong H1 performance, driven by a particularly good performance in the first quarter, the company is trading ahead of expectations for the full year. The retail business has seen material growth in revenue and profitability as the Ridgeway assets have made a strong contribution. In line with the wider market the company experienced a particularly strong Q1 as new car registrations were pulled forward ahead of the change to VED. The group saw good growth of used and aftersales revenue although there was continued margin pressure in the used car segment through the period. The leasing segment has continued to experience good profitability, albeit we expect this to be down YOY during H1 following a exceptional period last year following a reduced level of disposals. Forecast assumptions: Following the positive update from MMH this morning we are upgrading our 2017 and 2018 EPS forecasts by 6-7%. For 2017E we anticipate a H1 adjusted PBT of £18.0m vs. £14.0m last year, albeit anticipate an implied H2 of £10.0m vs. £11.0m last year to reflect tougher market conditions. We have also flowed through modest growth into 2018E. Our net debt forecasts also fall following the improved trading performance and the disposal made for £2m earlier this year. Outlook: The outlook statement was cautious on a longer-term basis, consistent with our industry view anticipating further declines in new car volumes through 2017. It is clear that Q2 trends in the new car market have deteriorated following a record Q1 this year. From a demand side perspective, we remain cautious with consumer confidence softening in recent months against a backdrop of increasing political and economic uncertainty. Investment view: While there is growing uncertainty across the sector, we believe this is more than priced into the shares as it trades on a prospective P/E of sub 5x with a dividend yield approaching 5%. The current market capitalisation is also more than backed by freehold assets (£109m freehold and long leasehold assets at 2016 balance sheet position) we believe is also attractive for a business that is clearly delivering against a tougher trading backdrop.
jeff h: N+1 Singer courtesy of Research Tree:- When we wrote on Marshall Motors 8 weeks ago, we indicated the fall in the share price (to 159p) was anomalous to its underlying operating performance and, after a strong Q1, likely short term newsflow on trading. Since then the shares have fallen a further 15% to an all-time low (134p). Today’s H1 update confirms the group delivered further material improvements in profitability on both a LFL and total basis – i.e. including a full contribution from Ridgeway which is now almost fully integrated and bringing both scale and geographic benefits. Whilst maintaining a cautious stance due to uncertainties in the market, performance is ahead of expectations and will drive consensus upgrades of 5-6%. On a cal17 P/E of <5x and yielding 4.4% the stock represents deep value including vs. peers. Expect a rebound today.
jaf111: So what have we got in the Trading Statement......cautious, declining market etc etc as one might expect in view of the recent share price collapse....... BUT surely some mistake....."Full year outlook ahead of Expectations" And the market response - a measly 3.6% increase so far..... Frustrating!
mortimer7: Anyone have a view on todays share price drop. Just sellers?
jaf111: A 8% uplift in share price, whilst nice, is surely very underwhelming / derisory..... when will the market give it a proper rating???
jaf111: good to see you on the MMH board davidosh. I know you are a keen fan of CAMB; is your interest in MMH recent??? IMO CAM and MMH are the picks of a very under rated sector so am expecting a considerable uplift in share the case of MMH eps are forecast at almost 30p next year so feel 240p achievable
Marshall Motor share price data is direct from the London Stock Exchange
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