Marston's Share Discussion Threads

[farnesbarnes] 14/1/2011 10:55

I can see your 102 support Brucie, you're using the lower shadow of 30/11 whereas I am using that day's eod close.

Money flow last night was the 4th lowest level in the last 2 years. Bottom has to be round here surely.

[brucie5] 14/1/2011 10:24

Why this change of wind direction? I see support at 1.02, and then of course £1, though the 200 sma lies just below it at 99. Unless the story of gradual recovery has reversed, I'd doubt very much if the share price is going back under £1, to judge from the chart alone. On the contrary, I cam imagine some seeing this as an excellent opportunity, within a secular recovery. Div still a healthy 6.2.

I could of course be very wrong, but I haven't seen the evidence, have you?
This is what the chart looks like.

[farnesbarnes] 14/1/2011 07:00

Indeed. No suggestion of rising support at 105, or failing that the previous long term resistance (which has already acted once as support) at 100?

[timbo003] 13/1/2011 23:31

Thank you for the info regarding the 90p target dnfa1975, your very substantial and well thought out arguments have made me consider selling my entire holding first thing tomorrow. Thanks again.

[dnfa1975] 13/1/2011 23:17

90p target

[farnesbarnes] 10/1/2011 09:20

mm's must be cleaning up today - spread has been .5 to 1% most am. Early bounce off 61.8 fib. EOD bounce off 50%?

[dnfa1975] 09/1/2011 16:30

let it snow let it snow let it snow

[timbo003] 23/12/2010 15:27

These seem to have a wind behind them today, have investors caught on to the fact that me and the family will be having our Christmas lunch at a Marstons pub (for the first time ever)

[contrarian2investor] 20/12/2010 15:03

Hi all,

Sadly given the levels of cancellations and lack of footfall from last Friday into retailers and pubco's. I opted to trim my MARS holdings today by 65%.

c2i

[spacecake] 15/12/2010 15:07

Recent broker notes...

Date Broker name New Price Old price target New price target Broker change
15-Dec-10 Barclays Equal-weight 0.000p - 135.00p New Coverage
13-Dec-10 Seymour Pierce Buy 117.10p - 130.00p Reiteration

[jeffian] 15/12/2010 13:04

Given the volatility of shares, I doubt the dividend is a principal reason to hold, just a nice return to have whilst waiting for capital appreciation. It looks as if MARS divi may be stuck here for a while, anyway. Their new 'policy' is to pay a divi 2x covered. Last year's was 1.6x and this year's same divi was 1.7x so I am anticipating they'll keep it at that level until profits increase to 2x cover before moving it forward.

[iomhere] 15/12/2010 09:04

Switching to GNK perhaps?

[jazza] 15/12/2010 09:02

maybe the traders want to see if the 100p resistance has turned into support?

[gbb483] 15/12/2010 08:55

Down by the dividend and then some. Looks like taking 'a pounding'.

[contrarian2investor] 08/12/2010 20:34

Hi all,

As I stated in posts 780 & 785 the festive period would be share price enhancing to MARS. Therefore we can now clearly use/see £1 as support. Our next point of resistance is around £1.30p which should be taken out following our post festive update.

Good fortune to all patient holders of MARS. Have a safe and good spirited December and 2011.

c2i

[mhw28865] 08/12/2010 13:55

Looking great today, nice move up since the prelims and my buy @ .76 looking v good. Long term hold for me as this company are going places all new builds 25% over target with 25 more next year and year after!

[ben gunn] 02/12/2010 14:57

May be, indeed.

[gswredland] 02/12/2010 13:38

May be we will break out from here?

[nellie1973] 02/12/2010 10:51

Broker upgrade today

[jeffian] 02/12/2010 10:49

Slightly reminiscent of Ted Tuppen's phrase at the ETI results presentation - "'Flat' is the new 'Up'"!

8-)

A sound enough set of results but with low/no growth in the short term, I reiterate my point that there is unlikely to be a re-rating to more heady PER's until they start moving forward again. However, I agree with the point that the underlying assets, cash generation and divi yield make this an easy 'hold' whilst waiting for more.

Re: previous discussions about the merits of 'new build' vs. buying existing pubs, I commented that I recalled MARS claiming they got better terms. They say that their new pubs give them a Return on Capital of 17% and cost 6x EBITDA. Looking back to GNK's last purchase of a group of 'quality pubs' from PUB, their RoC was 11.67% and they paid 8.5x EBITDA (though no doubt they would claim that they were under-trading with PUB) so maybe they have a point.

[fangorn2] 02/12/2010 10:27

FINANCIAL HIGHLIGHTS
·Group revenue up 0.9% to £650.7 million (2009: £645.1 million)
·Underlying profit before tax of £73.5 million up 4.6% (2009: £70.3 million)

·Marston's Inns and Taverns like-for-like sales up 1.7% with underlying
operating margins up 1% and average profit per pub up 10%

·Marston's Pub Company operating profit down 3.7% with trends improving through the year

·Marston's Beer Company revenue up 4.5% and operating profit up 1.3%

·Net debt down by £17.1 million to £1,082.2 million

·Earnings per share and final dividend
-Underlying earnings per share of 10.0 pence per share
-Final dividend of 3.7 pence per share, in line with last year / chunky yield maintained.

CEO ''We have adapted well to market conditions and trends. We're benefiting from our focused, differentiated strategy, hence our robust results in 2010 and a strong start to the new financial year. Our plans are affordable, deliverable, and target sustainable growth and strong returns in the future.''

[bostonborn] 02/12/2010 08:13

Results out this morning. Very much as expected I think; however they didn't disappoint either! share price up around 1p at the moment.

[essentialinvestor] 01/12/2010 12:40

I had a good look at this, went for DEB instead on the dip.

Good luck for the results folks.

[farnesbarnes] 01/12/2010 12:00

Missed this:

EU RESEARCH SUMMARY: Non-FTSEurofirst 300 Nov 17 1738 GMT

Marston's Plc MARS.L WHI Securities Starts with buy rating and price
target of 130p

edit - kiss of death!