Pendragon Share Discussion Threads

[dimpkins] 20/9/2013 17:27

Big volume at the close (uncrossing) looks like the action of an index fund but they were only on the 250 reserve list, any thoughts?

[jeffian] 13/9/2013 10:09

Slightly o/t but on that subject (cutting management) in Audi West London (Sytner) it takes 3 besuited gentlemen to get you from the car park to the reception desk! (one greets you by name as you drive into the car park, he takes you to the front door where another leads you to the reception desk where a third deals with you). I reckon that's £100 on the bill before you start! They now give you 'appointments' and even ask if you want to stay and watch a 'technician' working on your car. Please! What happened to the days when you chucked your keys on the desk calling out to the grease-monkey "Give us a ring when it's ready, mate". I honestly think these garages have lost the plot.

[dimpkins] 13/9/2013 09:16

HR Owen take out 20+ times Pendragon has volume dealers and trucks

Still think the story with PDG is debt reduction driving EPS upwards, without the debt they would become attractive bid target, plenty of cost reduction by cutting management!!

[gargoyle2] 12/9/2013 11:43

Agree with you jeffian. These aren't looking such good value any more. Sold mine yesterday, having held since around 26p. (Having said that, they'll probably be at 45p next time I look!)

[jeffian] 12/9/2013 10:25

What I meant was, using Yahoo analysts' estimates, if we are looking for eps of around 2.12p this year rising to 2.42p next, that's a current PER of 16.2x falling to 14.2x in 2014. Maybe the price is now up with events?

[dimpkins] 12/9/2013 08:50

On reserve list to go into 250 index as per FTSE last night, as for how high it can go that will depend on their interim management statement they usually make in October. Personally I think the continued reduction in debt with lower debt charge will be the driver

[jeffian] 11/9/2013 20:40

Very quiet here considering recent share price performance. How high do you think this can go?

[peea01] 27/8/2013 15:04

Big volume

[beazer2] 16/8/2013 17:02

32p at the closing bell.

[purple boots] 12/8/2013 10:17

Will this storm through 30p - same as 10&20p? Or take it's time as at 15&25p?

[jaf111] 07/8/2013 16:20

Agree with your thoughts Adam...am keen on the sector but certainly prefer LOOK and CAMB

[adamb1978] 07/8/2013 12:50

Surprised by the overwhelming positivity to the results on here! I thought they were OK but far from great and as a result have sold my holdings in both my ISA and SIPP over the last 24 hours.

My main concern with the figures is the gross margin. Given the size of the top line and low gross margin level, any further deterioriation flows heavily through to the bottom line. Gross margins for the last 7 halves have gone:

13.9%
14.2%
13.7%
13.7%
12.8%
13.7%
and now 12.6%

and the problem is that the afterales business (high margin) has now plateaud whilst the lower margin used and new businesses are growing at the top line, meaning the overall GM drops. Compounding this margins in H1 decreased sharply in used.

So, whilst there are positive aspects about the numbers, such as the top line growth and the interest saving which they will make in H2 from the refinancing, this really is a play on whether they can get GM up.

Market forecasts are for 2.2p EPS this year and I think the need to reverse the recent fall in GM and nudge them up slightly to hit 2.2p, and I'm not in a position to say whether they can or not.

As a result, I decided to sell given that I think these are more likely to go to 20p on the back of EPS coming in around 2p rather than the share price getting well into the 30s.

I bought in at 14p-15p though and no-one went broke banking a profit!

All the best for those continuing to hold

Adam

[gucci] 06/8/2013 10:43

extremely pleasing set of results

[peea01] 06/8/2013 08:08

Time for next leg up?

[beazer2] 06/8/2013 07:22

Underlying pbt up 24%. Hefty reduction in debt. Second half starting well.

[beazer2] 05/8/2013 16:16

Through 29p.

[davesta] 05/8/2013 15:38

Boom!Hoping for some good results tomorrow - I'd love to see the phrase "ahead of expectations" mentioned!

[adamb1978] 03/8/2013 19:29

PDG trade on 12x. INCH and LOOK trade on 15x - 16x.

plus PDG's market forecasts are bizarrely low

This has a lot further to go

[mreasygoing] 03/8/2013 15:57

Yes that is true, but it reflects the world market and sector sentiment is often a driver for other shares.

[dimpkins] 02/8/2013 22:19

INCH 70% of profit generated from Asia Pacific & Emerging Markets = Global player PDG domestic save California so totally different animal

Hopefully financials will be the driver with this one next week better balance sheet reduced debt levels following dealership sales

[mreasygoing] 02/8/2013 19:17

INCH up around 9% today. Get ready to see this move higher too. Tucked this away in my SIPP.

[tiger20] 02/8/2013 08:34

Good figures from Inchcape this morning-looks good for PDG as a recovery stock

[dimpkins] 01/8/2013 07:52

thanks for the date critter cheers

[mreasygoing] 31/7/2013 22:06

Chart is primed to move even higher.