Plus500 Share Discussion Threads

[rhatton] 08/12/2020 17:24

One wonders with the market always forward looking how this will climb above the 1600s. Until it is maybe obvious that 2021 estimates are low ish the market will be looking at 2022, wonder if any broker will stick their neck out and start raising estimates for 2021 and beyond.
Plus have just told them to expect inline

[hatfullofsky] 08/12/2020 17:03

Strage performance here today.

[simplethesis] 07/12/2020 21:48

It’s not a very big deal when a company’s corporate broker says it is going up.

[barryharmer] 04/12/2020 12:54

I asked ESOP when the payment of the dividend tax claims were due and they replied "It should be after the 10 of the December" which I guess translates to we intend to make the payment on the 10th December, but might miss the target and/or the payments will take time to travel from Israel to UK based brokers. In the past I have had to inform my broker Hargreaves Lansdown of the expected amount so they could reconcile it with payments received as the reference number I had supplied to ESOP had been truncated on the bank transfer.

[mighunter] 02/12/2020 12:51

Next read-across that I can see is IG H1 Trading update on 15th December, for the half ending 30th November. Should shed some more light on the volatility they saw in October/November. Hopefully this - leading on from CMC interims on 19th Nov - will translate into greater realisation that PLUS guiding a little too conservatively?

[rhatton] 02/12/2020 11:39

Anyone think we are likely to push up beyond the mid 16s prior to FY in feb?

[olig1] 30/11/2020 19:40

I think the forecasts have been designed to try and bring down expectations following an unusual first 9-10 months. They know that inevitably business levels will subside and when they do I think they want to be able to say "ok revenue is less than 2020 but it is still significantly above expectations". However, I think they have over done it and as a result forward guidance is of little value.

Obviously much will depend on the market but I would be disappointed if they didn't achieve revenue of $600bn next year. Of more interest to me is how they intend to grow the business further by expanding into new product lines whether that be by acquisition or internal development. Hopefully we will learn something of these plans with the preliminary results.

[rhatton] 30/11/2020 13:08

Do you think brokers are changing they’re views? With the Jeffries comment the other day and increased target price maybe they are?
Do you know what Jeffries are on?

[simplethesis] 30/11/2020 13:05

rHatton, yes, indeed, but that's the whole point. Canaccord is the high number at $535m and that means 180p/ share. I think they are too low.

[rhatton] 30/11/2020 12:54

£20 seems a stretch given current consensus for 2021. Need some upgrades and trading to warrant it

[olig1] 30/11/2020 12:20

No. 2018 we broke £20. I wouldn't sell for less than that.

[noreply1] 30/11/2020 10:20

Wow near all time highs, time to derisk ?

[mighunter] 19/11/2020 07:21

Across the fence, CMC have just reported "Strong start to H2 2021" in their interims... further evidence PLUS should also exceed at full year.

[simplethesis] 18/11/2020 17:18

Hello. I agree that other financial services products would probably help the company's valuation, because they would improve retention. The company has been clear that other products are coming, and has suggested that which is sort of obvious, which is that broking is not of itself a big deal. It is likely to be one of several new products which they launch. I think it's best to think of such elements as a free option in a company which is already trading at 7x next year, with a large pile of free cash. In terms of timing, I would be very surprised if you hear anything this year- these are not minor changes, but significant new business lines for a company which expects to be the best at what it does.

[googoo111] 18/11/2020 15:12

@simplethesisHave you heard on the grapevine when the share dealing product will launch? I was hoping to hear more about it in the Q3 trading update but there was no mention from what I could see. CMC and IG are both seeing strong growth in this area thanks to the explosion in day trading from the WFH classes and one would think PLUS can produce a product as good as, if not better than, CMC/IG. As well as a adding a new revenue stream the product should help to further legitimise/professionalise the business and increase customer lifetime values all of which should help bump the valuation.

[rhatton] 18/11/2020 14:23

All the CFD guys moving up today. Anticipation of CMC tomorrow?

Hopefully can push on through that 1660 ish resistance soon

[groveman1] 17/11/2020 17:16

IMRANAMAN
The Israeli withholding tax (WT) on Divs for non-Israeli resident individuals (in our case UK residents/ tax payers) is 20%. It was 25% until the summer but PLUS500 were conferred 'preferred company' status or something similar which effectively meant less tax to the Israeli government. For the penultimate Div I (UK resident and taxpayer) received a 5% additional payment which was backdated to reduce the overcharge from 25% to 20% as presumably the new rates were retroactive. For the last div I paid 20% WT. Under the UK/Israeli taxt treaty you are entitled to pay only 15% - ie a further reduction of 5%. For this you must claim. See the PLUS500 website under Investor relations > Dividends for info and instructions how to claim.

It may be because you have an ISA account that you paid 25% - I am not an expert - but the advice you were given does not appear to be correct and seems to be out of date. There are others on this BB who can provide far more expert and reliable info. however and I would seek further comment from them.

[imranawan] 17/11/2020 11:07

I got paid my dividend into my iWeb ISA account and have been taxed 25%.i queried with iWeb and they said that as Plus500 is domiciled in Israel dividends have always been taxed at 25% since November 2018. I queried whether the withholding tax should have been 15% as I have a W8BEN form but they said it doesn't apply to Israeli companies.Can I reclaim the tax as I am a UK resident and have up to date tax records. Any help or advice would be appreciated.

[rhatton] 16/11/2020 12:47

It has also increased its adjusted earnings per share estimate by 19% for 2020, reflecting the third-quarter results and “supportive fourth-quarter key performance indicators"
Plus500 Ltd -

Jefferies has upgraded its call on the shares of online trading group Plus500 PLC (LON:PLUS), citing scope for “material upside” to the company’s full-year 2020 earnings guidance.

The US broker pointed out that, after an exceptionally strong set of third-quarter earnings, the company opted to stick with the full-year consensus figures already in the market.

“This implied fourth-quarter revenue around the lowest level since the second quarter of 2014, which struck us highly conservative at the time, but particularly so following elevated retail equity market volumes in the wake of US election and potential Covid vaccine announcement,” Jefferies said.

“With little to suggest to us that customer trading performance has been unusually problematic, we see scope for a positive trading update to support earnings upgrades and multiple expansion.”

Its analysts have moved to ‘buy’ from ‘hold’ on the stock, raising their price target 30p a share higher to £17.60. At just after midday, the shares were marking time at £14.94.

Jefferies has increased its adjusted earnings per share estimate by 19% for 2020, reflecting the third-quarter results and “supportive fourth-quarter key performance indicators”.

Its full-year 2021 and 2022 forecasts “rise 10-13% reflecting higher revenue, on stronger growth in active users, and lower costs/normalised tax rate”.

The EPS estimates exclude a tax rebate of more than US$100mln which will be received “in FY20/21”, Jefferies said.

Anyone know what they are at for 2021/22?

[mymillie] 16/11/2020 11:01

Thanks Stuffee

[stuffee] 16/11/2020 10:00

MyM

Yes, you can reclaim IWHT on ISAs OK. Have to go through tedious process of receiving confirmation from HMRC that your own UK tax affairs are up to date et al, which can sometimes take months, but the refund will arrive eventually.

[mymillie] 16/11/2020 09:34

Yes H & L paid it Friday.
Does the withholding Tax get reclaimed if you hold in an ISA ?

T I A

[cambridgedon] 16/11/2020 09:19

Has anyone got their divi yet?
CD

[podgyted] 16/11/2020 07:51

Plus500 PLUSP.L : Jefferies raises to buy from hold, raises target to 1760p from 1730p