Provident Financial Share Discussion Threads

[glenkaz] 22/8/2017 17:08

Think this will open over 6 and head straight to the 7's my opinion I'm sticking with it! Well no choice as stayed and glad imo! 🤠👍

[letmepass] 22/8/2017 17:08

Nice big gap up.. Lots of buys at the end

[andysaw] 22/8/2017 17:04

The bounce occurred today, so I believe another bad day for the share price tomorrow and it will open much lower in the morning. Third warning is pending. It seems management can't control the mess at the moment IMO

[tradejunkie2] 22/8/2017 16:58

Even the pro's get it wrong!!


By Graeme Evans | Tue, 22nd August 2017 - 11:40

Woodford suffers £300m Provident blow after second profit warning

Shares in the FTSE 100 (UKX) stock, which was once worth more than £4 billion, dived by 64% to just 630p, lower than at any time since the start of 1999.

[topvest] 22/8/2017 16:56

Well if you think you have had a bad day owning any of these just think about poor Mr Woodford who's lost £0.3bn of other people's money. That's what I would call a very bad day indeed.

It does prove that on a very bad trading update (of which this is definitely one), it works to sell at 8am on the bell and get out quick. £10 to £6 from then is another 40% loss intra-day.

[svenice7] 22/8/2017 16:35

Good company, 1p tomorrow

[glenkaz] 22/8/2017 16:32

Nice finish gap up tomorrow me thinks crack at 7.50 maybe 🤡🤞

[analyst] 22/8/2017 16:27

The're losing money from loan sharking! It's quite something!

[demo trader] 22/8/2017 16:21

600P, Give up for the day.

[demo trader] 22/8/2017 16:17

Perfect (small stake/s) spreadbet share, IMO.

[glenkaz] 22/8/2017 16:11

Bought back in! Not tanking gap up me thinks 🤡✌A039;

[deltrotter] 22/8/2017 16:04

NY Boy
14 Aug '17 - 14:34 - 649 of 1064 0 0
Give it time, will turn once investors see value

NY Boy
15 Aug '17 - 11:51 - 660 of 1064 0 0
Just summer holidays, bears have it easy for now.

Real action starts after Labor Day, when all the big market players return

NY Boy
16 Aug '17 - 09:20 - 671 of 1064 0 0
Temp. Bottom in?

Seems way oversold, time will tell but 7% divi
NY Boy
16 Aug '17 - 12:10 - 672 of 1064 0 0
Better day, so far, a turning point would be good, if so .
..plenty of upside to take back control of!

NY Boy
17 Aug '17 - 16:27 - 678 of 1064 0 0
another set back, needs to hold the low earlier this week

NY Boy - 22 Aug 2017 - 11:06:18 - 819 of 1065 PFG - PFG
Made up earlier losses just short this easy money! Short to 1p!

NY Boy - 22 Aug 2017 - 11:31:06 - 841 of 1065 PFG - PFG
Short to 1p, finished,credibility shot to pieces

NY Boy - 22 Aug 2017 - 11:44:57 - 864 of 1065 PFG - PFG
This will end at 0p

[tradejunkie2] 22/8/2017 15:51

Is this another Cattles PLC?

[andysaw] 22/8/2017 15:48

Don't think anyone would hold the shares until tomorrow, so fall looks imminent. If there is a bounce tomorrow or thereafter, we can always buy. IMO

[glenkaz] 22/8/2017 15:46

Sold made £4K 🤠 Was £2k down so £6k swing! Was 8k up never mind profit is better than loss! Shame though it would bounce to 7 gla! Soz lth's 🤡✌A039;

[gwatson56] 22/8/2017 15:45

It is the non reporting of the FCA investigation into Vanquis Bank that irks me. Woodford et al must be concerned. I just do not understand how this remained unreported and Directors were able to sell shares earlier in the year.

[meijiman] 22/8/2017 15:34

The Chairman looks like a wrestler so will have marched the ceo out of the door....

[pediment] 22/8/2017 15:34

Chart say slow decline rest of the day, book says timber

May be some support at 540.00, is that what you're seeing inv

[andysaw] 22/8/2017 15:26

450-470p at close. Big fall anytime now IMO

[5chipper] 22/8/2017 15:19

Provident to be bought out by year end and McGregor to beat Mayweather... Odds please

[rb1206] 22/8/2017 15:15

RBC View value here is 446p per share. Read it below

Here's RBC's Peter Lenardos, fresh off a quite brutal conference call.
BE
The Executive Chairman (previously: Non-Executive Chairman) will stay as long as required to stabilise the business. The CEO (Peter Crook) has left the business with immediate effect.

The FCA investigation into Vanquis Bank: today was the first day that the company disclosed this to the market, despite the company knowing about it for some time. The company did this in order to put the withdrawal of the dividend and the likelihood of no final dividend “in context” with the issues PFG is experiencing in its consumer credit division. Given that the FCA investigation has the potential to be material to the company, investors are likely to take the view that this investigation should have been disclosed when it was known.

Provident Financial is “perfectly comfortable” that the dividend cancellation for all of 2017 (both the interim and the final) should prevent an equity capital raise. While comforting, the company did not rule out an equity raise. Further, Provident Financial has nearly £150MM of goodwill and intangibles on its balance sheet, some of which are likely impaired given current trading conditions.

The company is not putting a timeline on the return to profitability in the Consumer Credit Division (which made £115.2MM in 2016A and will lose between £80MM and £120MM in 2017E).

Provident Financial’s financial covenants allow maximum gearing of up to 5.0x (H1/17: 2.3x). Provident also has a net worth covenant of at least £400MM. It is our understanding that PFG’s pension asset (which is £85MM as of 30 June 2017) is excluded from these covenants l
Provident has a retail bond of £120MM that matures in October 2017. PFG believes that it has funding (through committed facilities plus Vanquis Bank retail deposits) to provide funding through to the seasonable peak in 2018.

Adjusting our forecasts just for the new CCD guidance would cause at least a 55% reduction in our 2017E PBT forecast (at the midpoint of the loss range) – assuming all else equal. Provident Financial’s book value – which excludes the pension asset and as of 30 June 2017, is 446p per share. Our conclusion from this morning still stands: the shares are not investable until greater clarity is received, which may not be until next year at the earliest.

[tiny twink] 22/8/2017 15:05

450 close?

[glenkaz] 22/8/2017 14:54

Weeeeeeeeeeee! 🤡✌A039;