Provident Financial Share Discussion Threads

[umitw] 12/10/2017 07:39

Seems like every media is releasing bad news about PFG everyday, which creates volatility in share price!2019 is far away, anything can happen from now and then!

[umitw] 12/10/2017 06:16

It can never be an unquantifiable fine, as this will put the company in administration and bankruptcyThe fine has to be affordable!!

[smurfy2001] 12/10/2017 00:30

I think i'm going to follow Woodford on this one and take a punt.

[masurenguy] 12/10/2017 00:28

Provident Financial ‘could fail debt dues’

Provident Financial could fail to meet its debt obligations on time and to pay a misselling fine of more than £200m, analysts have warned. Shares in the struggling subprime lender came under fresh pressure yesterday after Barclays expressed unease over customer complaints at Vanquis, its banking and credit card business. Warning that the division could only afford a £200m fine, Barclays said: “The amount could be greater.” Provident, which is due to update the market tomorrow, was recently relegated from the FTSE 100 after two profit warnings in as many months sent its shares crashing 79%. “We are cautious on the shares given our lack of confidence for a turnaround of the Home Credit business and the unquantifiable size of potential [regulatory] redress,” the bank told clients. “We perceive further tail risks of Provident Financial not being able to meet its October 2019 debt obligation, breaching of debt covenants and the impact of IFRS9 accounting.” Barclays analysts suggested that Provident shares may not materially recover because they were unsure how successful its turnaround plans will be.

Complete article:

[smurfy2001] 11/10/2017 19:45

I'm long @ 776. Will drip feed if this goes lower.

[glenkaz] 11/10/2017 19:09

Smurfy do you really look like that! Yum yum 🤡✌A039; Don't be down guys at least we ain't 450 🔥🚀

[smurfy2001] 11/10/2017 17:34

Sanks,
How are you and Sheila doing? Good to see you back!

[sanks] 11/10/2017 15:36

My bird Sheila has a buy target of £2.90..i'm gonna wait.
Sensible comments appreciated
Sanksalot

[umitw] 11/10/2017 12:25

Barclays only reduced the share price by 16p,reality is that sHare price dropped by 84p ....!

[neeps] 11/10/2017 11:07

Provident Financial Plc : Barclays cuts price target to 584p from 600p

So what highly paid Barclays analyst came up with that pearl of wisdom.

[umitw] 11/10/2017 09:10

People on the street or on these boards are short termer.What happens in long term that matters- companies can change their course of direction and apply different kind of model which can work-Shorters are looking for an excuse to make money that's the reason for a large price gyration!

[masurenguy] 11/10/2017 08:57

It depends upon how much weight people give to information in the "public domain" and also how much credibility they may think that it has. Market sentiment is often very irrational.

[umitw] 11/10/2017 08:49

This knowledge is in public domain already and the share price has already factored in many negative eventualities! IMO

[umitw] 11/10/2017 08:48

This knowledge is in public domain already and the share price has already factored in many negative eventualities! IMO

[masurenguy] 11/10/2017 08:45

Whatever self-interested motive Kuffeler may have had in making his prior comments, it does not necessarily detract from his knowledge of the PFG business model. The recent major restructuring at PFG, involving the replacement of self-employed agents with salaried staff, seems to have seriously fractured their business model and there must be some serious concerns as to whether this is a survivable issue for their doorstep lending operation !

[umitw] 11/10/2017 08:42

When GLEN was falling off the cliff every body were saying this company is finished!65p turned into 366p , how wrong those people were looking back now!

[umitw] 11/10/2017 08:36

17% drop for a fine of £70K is a bit steep I think!

[fhealey] 11/10/2017 08:35

Re my previous post. When this share price was on the way up there were very little in the way of postings on this board. Strange that now the share price is falling the posters come back (mostly full of doom and gloom). I wonder what their motives are or do I need to ask?

Do not sell (or buy for that matter) on what you read on these boards!

[bookbroker] 11/10/2017 08:28

fenners - u may be correct, it’s an interesting business the sub-prime game, but how many more skeletons are there in the closet.

[umitw] 11/10/2017 08:26

Well I think recent fall is a bit over done!

[bookbroker] 11/10/2017 08:26

Glen - where are you, this company needs u!🤡

[fenners66] 11/10/2017 08:25

I have to say at £9 this was looking, with hindsight, a great short,
No I didn't short them and never have - but did sell out at 2150 on the way up - how good does that look now?

[umitw] 11/10/2017 08:12

* Provident Financial Plc : Barclays cuts price target to 584p from 600p