Mcbride Share Discussion Threads

[chrisdonohue] 27/2/2024 16:18

Assuming that the previous analysts's estimates of 16.4p earnings are increased by 10-15% say 12.5%, this gives earnings of 18.45p. On a conservative PE of 12, this gives a projected share price of 220p. So to buy at 88.4p is very cheap.

[mfhmfh] 27/2/2024 13:10

Thanks. Makes sense.

[darrin1471] 27/2/2024 12:51

mfhmfh. I think the 90p resistance will be broken but I don't know when;-)
Fundamentals show MCB is cheap historically.
Forecasts for this year are now EBITDA of £83.65m. Previous record high was £51m when the share price peaked above £2. There are now fewer shares in circulation after the buybacks.
I was a little nervous last night but H1 results were very reassuring.

[darrin1471] 27/2/2024 12:40

MarketScreener numbers changed this morning.

Were/Now
Sales 964 vs 972
EBITDA 73.6 vs 83.65
PBT 35.05 vs 42.55
EPS 13.55 vs 16.65

[mfhmfh] 27/2/2024 10:14

does anybody think the resistance will be broken at around 90p or will the seller win through?

[oldtimer169] 27/2/2024 09:33

The undemanding forward P/E even after today's rise in the share price will not be lost on the analysts.All looking very positive IMO.DYOR

[darrin1471] 27/2/2024 09:18

IMO
At the end of last year MCB moved higher virtually unopposed. There were sellers into the rising price.
Things changed this year. There is a seller trying to move the price down at every opportunity. Why? Either they want to build a stake or they are short. Both look to be unsuccessful.
If you were selling into a rising price I would expect to see large single trades where a buyer and seller are matched.
This seller is drip drip dripping trades. Small trades when the volume was low. Today repeated larger sales keeping a lid on the price.
The good news for MCB holders is that whoever is managing the price upward appears to have more firepower and MCB keep on producing updates that justify a higher price.
Currently the buyer appears to have a defence at 85p on L2, trying to nudge the price higher.

Analysts presentation starts at 10am this morning

[northwards] 27/2/2024 08:58

Great set of results. And simply presented, unlike some others cos.

[nobull] 27/2/2024 08:27

"Full year adjusted operating profit now expected to be 10-15% ahead of previous internal expectations"

Before today's results updated, Factset Research had these eps forecasts:




Be interesting to see if the forecasts now alter.

[darrin1471] 27/2/2024 07:59

Opening in the low 80s

[darrin1471] 27/2/2024 07:21

Half-year adjusted EBITDA of £40.9 million

Full year adjusted operating profit now expected to be 10-15% ahead of previous internal expectations

Profit before taxation of £17.4m

Demand levels in early months of 2024 in line with the first half

[blackhorse23] 26/2/2024 11:01

https://news.sky.com/story/amp/former-prince-andrew-aide-eyes-role-in-takeover-bid-for-currys-13080842

[darrin1471] 26/2/2024 09:03

Half year results tomorrow.
Share price showing some life this morning.

[darrin1471] 23/2/2024 19:09

Yes a similar pattern happened on Wednesday also.
On Wednesday volumes were very low (under 20k), then during the last 10 minutes of the day a flurry of trades pushed the MCB price down. The fall was defended at 70p
Today again very low volume before 15:27 (under 20K) then a flurry of trades forcing the price down. Buyer came back in and pushed the price back to 70p.
68p is a major support then 58.8p according to a chart I look at.
MCB appeared well managed on the way down and on the way up in 2022 and 2023. Downward movement to 70p appears to be much weaker than the underlying upward movement.
Downward pressure only appeared after the tip in SCSW.

Half year results on Tuesday will hopefully confirm the upward trajectory after the last trading update left room for a a negative interpretation.

MCB are not going to have a capital markets day in March if they are not going to be promoting positive long term targets. IMO

[oldtimer169] 23/2/2024 16:00

darrin
Have you been watching the single digit trades today by any chance?

[blackhorse23] 15/2/2024 12:54

https://www.londonstockexchange.com/news-article/GNC/director-pdmr-shareholding/16333680

[mfhmfh] 12/2/2024 20:30

Seller cleared with that nearly 200,000 share trade at 15.22?

[trader465] 12/2/2024 12:12

Why would you take notice of broker recommendations? There are 100’s of them every day, most underperform the market and do no better than you or I. There is only one way to make money from the market, your average win needs to be greater than your average loss. The end.

Peel Hunt Limited reported earnings results for the half year ended September 30, 2023. For the half year, the company reported net loss was GBP 0.679 million

[pshevlin] 12/2/2024 09:08

A very good review in SCSW. Basically says Peel Hunt rates it as a TOP BUY for 2024.

[darrin1471] 12/2/2024 07:53

A Capital Markets Day for investors and analysts at 11:00am on Wednesday, 13 March 2024.

The event will feature presentations from CEO Chris Smith, CFO Mark Strickland and other senior leaders. The event will provide further detail and insights into the Company's strategy and divisional performance together with a focus on its Transformation Agenda.

A recording of the event will be available on the McBride plc website shortly after the event.

[darrin1471] 09/2/2024 13:09

Fall is on low volume.
If the share price is being managed then the fall could be to enable a large trade at a lower set price or to create a favourable chart to attract new buyers.
On forecasts, MCB is cheap. IMO large shareholders will manage the share price upwards over time.

[mfhmfh] 09/2/2024 12:44

I bought at 70p. showing as sell. no idea why the price has dropped.

[darrin1471] 07/2/2024 09:26

I have been watching PZC. PZC looks fundamentally like a Nigerian currency issue. Reducing the dividend and any future ending of the dividend is likely to lead to forced sellers and create an opportunity. Unlikely to be a quick resolution with the Nigerian Naira falling again by 35% this month.

MCB showing signs of positive movement again on L2 this morning.

[oldtimer169] 07/2/2024 08:51

Those pzc results look pretty dire.As risk/reward goes MCB looks a far more attractive proposition IMO