Merlin Entertainments Share Discussion Threads

[sux_2bu] 24/1/2018 13:31

Could be a buy soon.

[pugugly] 18/1/2018 16:12

Could it be that the world is now over supplied with Theme Parks/Entertainment venues - There could well (imo) be a limit to what the consumer wants - Opinions as to where Merlin resorts stand in consumer visit desireability rankings ?

[sux_2bu] 18/1/2018 15:26

Falling heavily.

[hammers976] 11/1/2018 18:18

The results are very seasonal. The last 6 half-yearly profits: 133m, 25m, 145m, 37m, 174m, 37m.

So I wouldn't compare the market cap to the last 6 months' profit as Eastbourne1982 has done.

Regarding CapEx, 45% is on new sites and 55% is towards investments into the existing estate.
So maintenance Capex isn't far off the depreciation charge. This is before even considering the reduction in existing estate CapEx of 100m over 2018-2021.

On a PE of less than 18, I'm a holder.

[j5ack5k] 04/1/2018 15:48

Well admittedly these aren't proper reasons and I haven't done any detailed research but my interest was piqued enough to put it on my watchlist because:

- The chart did look cheap as per Eastbourne1982
- Different sector to anything I have exposure to.
- Terrorism threat as a reason for doing badly I don't buy and if it is a factor it will be short term.
- Long term I can't see any structural threat to this kind of entertainment business. Digital/home entertainment will never replace going out etc.
- Lots of scope for growth

I should mention I'm buying with a view to stick in an ISA as a long-term holding. Not a big amount and definitely not a short-term trade.

[eastbourne1982] 04/1/2018 14:29

Debt and capex puts me off.

Half year profit was only around 37 million against a market cap of 3.5 billion !

These only really look cheap from a chart perspective, i.e. they have dipped from nearly £5.50 to the current £3.45 mark. Clearly they must have been extremely overvalued at £5 plus and when you look at the numbers and fundamentals they certainly aren't a bargain now.

Why buy ?

[j5ack5k] 04/1/2018 11:44

You were bang on sux. What price is fair value do you think and why? The current price feels like a tentative buy to me now but I haven't done a huge amount of research yet.

[sux_2bu] 02/1/2018 15:25

Still falling.

Soon be under 350p

[sux_2bu] 14/12/2017 17:01

sux_2bu5 Nov '17 - 18:09 - 557 of 565 Edit
0 0 0
Lots of downside coming here.

Buy cheap, not when expensive, like present price.


.....................................................................................

The price was 380p at that time. It since went to 350p.

The price will go much lower yet. imo.

[pugugly] 24/11/2017 15:27

MRF- Suggest you wear a box or similar to protect you appendage from getting damaged when using your pass !!!

[joe king1] 21/11/2017 21:31

Oh dear. The market is ripping the rampers butt holes even wider,

Sub 100p in target.



Timmmmmmm Berrrrrrrrrrr

[pugugly] 21/11/2017 16:47

2 year breakout down -
Very unloved and probably rightly so - How much further could this fall ??

[my retirement fund] 11/11/2017 11:54

Wrong planet

[andyj] 11/11/2017 05:38

Wrong board Joe?

[joe king1] 07/11/2017 21:06

Yo rampers, I'm looking to buy at 80p.

I won't be waiting long, it will crash.

[andyj] 07/11/2017 15:09

Brilliant advice as ever from he who lost all his money and now spends all his time wishing others did too.

[sux_2bu] 05/11/2017 18:09

Lots of downside coming here.

Buy cheap, not when expensive, like present price.

[andyj] 05/11/2017 03:36

I think they have gone already.

[inv] 29/10/2017 18:49

this will continue to rise

[andyj] 28/10/2017 01:11

It's all about the growth story and building leisure parks in Asia is going to be the driver of that growth.

[kmann] 25/10/2017 10:51

Theres nothing right about this company. The valuation is all wrong, its yield is unattractive, and summers over. Now is the winter of discontent.

Needs to be half this price imo

[minerve] 24/10/2017 18:28

Down down deeper and down....

[joe king1] 24/10/2017 18:23

320p not far away, if that breaks then get worried. lmfao.


Timmmmm Berrrrrrrrr