Pagegroup Share Discussion Threads

[dudishes] 16/10/2024 12:50

What do they know W? \nought.

short from 403, @ a rise today, see no issue. \Pipe dreams?

[waldron] 16/10/2024 09:59

William Farrington
Edited by:
Philip Whiterow
PROACTIVEINVESTORS

PageGroup PLC
(
LSE:PAGE
)
PageGroup outlook maintained by Jefferies despite ‘subdued conditions’

Published: 11:04 14 Oct 2024 EDT

Recruiter PageGroup PLC (LSE:PAGE)’s third-quarter earnings showed that “subdued conditions continue” for the FTSE 250-listed recruiter, although broker Jefferies has left its outlook unchanged.

Jefferies noted that the conversion of interviews to accepted offers remains the main challenge for PageGroup.

The company's momentum is “still deteriorating”, with a 16% exit rate in September, said Jefferies.

While full-year EBITA estimates are expected to be in line with the market consensus of £58 million, Jefferies expressed concerns that second-half recovery expectations might continue to moderate.

Analysts maintained a ‘hold’ rating for PageGroup and set a price target of 440p, reflecting a potential upside of 19% from the current price of 370.4p.

[grabster] 14/10/2024 11:10

Dreadful figures! Double-digit falls across the board. I am surprised that they are down in so many territories simultaneously. This amounts to a profits warning surely?

[martinmc123] 14/10/2024 11:02

Another soft quarterly update from the recruitment sector, today PageGroup. Obviously there are ongoing challenging market conditions with further softening in Europe of most note in Q3. Group gross profit was down 13.5% to £201.4m. There was a decrease in fee earner headcount of 98 (or -1.8%) to 5,500. Productivity was down further another 4% despite these cuts to the workforce. The FY outlook is downbeat, the Board expects 2024 operating profit to be broadly in line with current market consensus of £58m which would be less than half the £119m reported in FY23....

...from WealthOracle

wealthoracle.co.uk/detailed-result-full/PAGE/867

[dudishes] 30/9/2024 16:13

Dropping like a stone at the moment. Nice

[disc0dave46] 17/9/2024 13:47

From The Times today:"More industries across Britain's economy were hiring than at any time in the past 16 months in August, according to the latest Lloyds Bank UK Sector Tracker."Has to pick up at some point!.

[disc0dave46] 10/9/2024 13:05

Buy tip in Daily Telegraph today - agree!.

[essentialinvestor] 09/9/2024 15:46

Any views here folks?, following the recent price action.

[essentialinvestor] 22/8/2024 09:25

Hays find yet more cost savings.

Near a sector share price low ?.

[disc0dave46] 19/8/2024 11:55

Job vacancies rise for the first time this year - a bit of good news for once.HAYS trading update is this Thursday so read across likely, positive too I hope.Https://uk.investing.com/news/economy/job-vacancies-rise-for-first-time-this-year--report-3656448

[disc0dave46] 11/7/2024 14:06

Thanks for that.The US jobless claims coming in today lower than forecast has kicked the share price upwards.

[hotfinance14] 11/7/2024 05:43

PageGroup's profit warning this week wasn't enough to deter RBC Capital Markets from changing its 'outperform' rating on the stock, saying it expects a "sharp recovery in earnings".

Nevertheless, the broker cut its target price for the shares from 540.0p to 510.0p after lowering its profit forecasts for the next two years on the back of Tuesday's second-quarter trading update from the recruitment firm.

PageGroup said gross profit fell 12% versus the same period a year earlier to £224m, and weaker-than-expected trading in June, along with tough macro conditions, mean it was scaling its full-year operating profit guidance back to £60.0m, down from £118.8m last year and below estimates of £90.0m.

RBC said its downward revisions to forecasts reflect around 7% lower expected net fees for the next two years, however, they come at a " very high drop through to the EBITA level as PAGE continues to invest in the group strategy by broadly maintaining its platform of experienced fee earners".

RBC also highlighted that its new target price still represents "attractive upside potential on a total shareholder return basis".

"We think PAGE's seasoned management team are making the right call to preserve consultant capacity, creating the pre-conditions for a sharp recovery in earnings when client and candidate confidence improves."

[disc0dave46] 10/7/2024 07:32

Hi EINo doubt it. It's cyclical IMO. I thought the hiring cycle would have come earlier but clearly events not within their control have delayed things.

[essentialinvestor] 09/7/2024 15:33

Dave, could there be something secular at play here?, rather rhan just a cyclical event.

[disc0dave46] 09/7/2024 15:25

Hi EIDidn't expect another warning tbh, but all the research I scanned yesterday was constantly using the phrase "soft" and "challenging" Think it was a report by KPMG (jobs UK July 2024?), that convinced me to take no chances, take profit and sell up before Q2. Unfortunately the Page calendar gave tomorrow for Q2 not today!.Unemployment in the US has gone up and a lot of UK businesses are cutting or at least holding back from filling / creating posts due to elections and the obvious elephant in the room interest rates.

[essentialinvestor] 09/7/2024 13:54

I'm struck by the % revenue declines,
particularly in the US.

Any views on this?.

We know operational gearing whacks the P&L,
so that's not the surprising aspect to this update

[gswredland] 09/7/2024 11:41

I was wondering that essential

[essentialinvestor] 09/7/2024 11:07

Hays may be very ugly later this week ..

[disc0dave46] 09/7/2024 10:17

Doubt it very much. Businesses are cutting and deferring posts at the moment for various reasons, but that will change.

[hotfinance14] 09/7/2024 09:52

Very poor trading statement and seems to be long term.

[gswredland] 09/7/2024 09:47

Grabbed a few at 371 this morning

[gswredland] 26/6/2024 16:06

Anyone know what caused the fall today please?