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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pz Cussons Plc | PZC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.60 | 0.59% | 101.60 | 10:52:36 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 99.50 | 99.50 | 102.00 | 101.00 |
| Industry Sector |
|---|
| PERSONAL GOODS |
| Top Posts |
|---|
Posted at 11/4/2024 11:13 by italianfinance I finally found a forum where we talk about PZ CUSSONS, I am an Italian investor and excuse my English generated by an automatic translator :-)I discovered PZ a few weeks ago and it is a historical company that I like very much, in the last few months we all know the reasons for the stock market meltdown, but we also see tentative signs of recovery from the Nigerian currency NAIRA, which gives me hope for the future. I think there is very good scope for recovery, so my bet is quite heavy, at the moment about 300,000 shares at 0.89 average, but I am willing to raise the risk and go up to 500,000 in the next few days. Also willing to take momentary losses without fear. From now on I will read your comments very gladly to keep myself updated, as you are very knowledgeable. Good work to all. |
Posted at 14/3/2024 20:31 by justiceforthemany wunderbar you've done your homework but I'm afraid that's not how markets work. There's very little logic or rationale involved. Just look at some US stocks, trading at crazy valuations on pure hype. Crypto same.Momentum is everything and this could easily hit 50p or less. (I am a holder) Email the CEO and investor relations. His situation is untenable. Another 50% devaluation in the Naira since results is why the share price is where it is. |
Posted at 14/3/2024 10:48 by giltedge1 Sure there is a good business waiting to be released. But Jonathan sat in his bunker collecting £1.5m while company collapsing around him. Nigerian cash was kept on BS at a ridiculous exchange rate, so investors were mislead in reading a good gearing position but reality different. 20 years profits sitting in Nigeria surely were opportunities to convert over the years, Shell manages. Also could have expanded into Malaysia same language as Indonesia people their shower many times a day also China ideal for Sanctuary. ULVR moved in 90,s now one of their biggest divisions. Problem is now strapped for cash as reaching covenants on debt, So uninvestable. |
Posted at 13/3/2024 22:30 by wunderbar Having first bought into PZC only a month ago at 100p, I felt compelled to top-up at 90p today [intraday low 88.45p]. Whilst I anticipated short term volatility it’s still disappointing to see share price down 11% since start of March, more so given it was holding steady at 100p for three consecutive weeks following February’s profit warning. As things stand, YTD share price is down 39%.The last time share price was this low was almost 21 years ago [Sep 2003]. Today’s market cap is a meagre £388m. With such a lowly valuation I cannot believe nobody is running the rule over this company right now. Be it Private Equity or a much larger competitor, either could easily afford to buy this out at double today’s price and not blink an eyelid. My ideal scenario [for a quick exit, double my money] is PZC to be taken out c.200p a share. I think Cussons is a quality company with quality brands but going through a rough patch at moment, mainly attributable to the Nigerian naira devaluation, and to a lesser extent the cost of living crisis. Having said that, it is evidently clear management have made big mistakes, and now face enormous pressure to address/fix these issues. Ultimately, the buck stops with CEO Jonathan Myers, and right now I’m sure many shareholders are baying for his blood given the decimated share price. When he took over on 1 May 2020, it was c.186p, today it’s 90p, which means he has presided over a 50% collapse, or put another way, almost £400m has been wiped off the company’s market cap during his reign. And to rub extra salt in the wound, the upcoming Interim dividend has been cut by 44%. Right now, he’s walking a tightrope, and if there’s no material improvement in next 12 months then [figuratively speaking] he’ll likely end up wearing that rope around his neck. The company is now forecasting full-year adjusted operating profit to be in the range of £55-60m for the 12 months to 31 May 2024. Provided the Nigerian naira doesn’t collapse again in next couple months then current price is ridiculously cheap, making PZC a stonking buy below 100p. As Del Boy would say, you know it makes sense [cue second profit warning]. On 8 March, Barclays downgraded shares of PZ Cussons to 'equalweight' from 'overweight' and slashed the price target to 111p from 205p, citing "too much" Nigerian exposure. I personally think 111p is too conservative, alluding to little progress over next 12 months. I can’t argue the Nigerian comment though, it’s abundantly clear there’s too much reliance on this economy, and given that the naira devaluation has spectacularly blown-up in management’s faces perhaps they should consider reducing exposure here and instead look to increase market share elsewhere. At present I believe Nigeria accounts for c.35% of revenues. Perhaps it would be prudent to cut this to 25-30%. Having said all this, I'm delighted the share price has plummeted to these levels [apologies to longstanding shareholders]. The fallout from Nigeria’s currency collapse has created a fantastic opportunity for new investors to scoop up shares in PZC at rock-bottom prices. We've all been here before, had a stock which has nosedived, lost a fortune/sat on huge paper losses, only to see new investors move in at lowly prices and reap the rewards of a successful recovery play. As they say, one man's pain is another man's gain. To close off, I’ve not bought into PZC for dividend income. My sole aim is to double my money in the next 2-4 years, perhaps a lot sooner with the aid of a predator snapping up the company. I don't see my price target of 200p as being overly ambitious. |
Posted at 09/2/2024 10:33 by wunderbar This morning PZC officially became a penny stock trading at just 99p, a low not seen since c.2003. I've had my eye on this stock for the past 5 years, waiting patiently for an entry point offering "value for money". Now I consider it a bargain and picked some up under £1. In time I think investors buying at this price point will be handsomely rewarded. Having already fallen 33% since start of 2024, and 50% over 12 months I think a lot of bad news is now baked into the price, but that's not to say we won't see continued volatility in the short term. I'll be happy to add on any further significant weakness.Understandably, investors weren't happy with the update which triggered a 16% fall. In essence it was a double whammy slap in the face, a profit warning with the added pain of interim dividend being slashed by 44% to just 1.5p, but the way I see it, it's a case of short term pain for long term gain. Once the Nigerian currency stabilises then I believe confidence will return resulting in higher share price. My overall objective is to double my money c.200p within a time frame of 2-4 years. PZC has some great brands in its portfolio such as Imperial Leather, Carex and Original Source to name a few. This stock is just screaming out for someone to snap it up and realise it's true potential. Some might suggest Unilever but they already have plenty big brand names in these categories. I personally think Reckitt Benckiser [RKT] should take a very close look at this company, they have the know-how and financial muscle power to turbo charge these well established brands on a truly global scale. As far as I know they don't have a division specifically selling these type of products - this would be an absolute steal for them and give them a ready-made footing in the personal hygiene sector. PZC currently has a market cap of just £419m. Reckitt could easily make an offer double that [c.200p per share / £850m valuation]. In 2017 they acquired Mead Johnson [baby formula business] for approx. £13bn. Less than three years later they wrote off £5bn from this acquisition, in other words grossly overpaid. My point being, given the huge amount of money wasted on Mead [which ultimately cost the ceo his job], acquiring PZC for upto £1bn is short change for Reckitt. I see another poster has come out with an outlandish 40-50p fair price valuation, no doubt derived from figures plucked out of thin air given he offers no analytical explanation. This would equate to a market cap of £171-214m for a company churning a regular £50-60m profit. This in turn would give us a P/E ratio of 3 or 4 noting PZC has historically traded on a P/E of 15 or higher. So then, 40-50p? I say utter nonsense. To sum up: I'd be amazed if the share price is still lanquishing near 100p in 2-4 years time. At such a lowly valuation I'm convinced this is ripe for a takeover, or at very least offers up an opportunity to make a significant return on investment. |
Posted at 09/2/2024 10:33 by farrugia 'the government will scare off foreign investors with the Naira depreciation rather than attract them. Idiots.' The market needs to find its level. Holding a currency at an artificial level doesn't work. The brands have value but its a tough market. |
Posted at 08/2/2024 18:53 by justiceforthemany A takeover or news of one would be a blessing here actually! You should not fear it. The alternative is far worse. Still holding but Nigeria is a basket case - the government will scare off foreign investors with the Naira depreciation rather than attract them. Idiots. |
Posted at 07/2/2024 19:38 by philanderer Investors Chronicle:'PZ Cussons shares dive after dividend cut' .....a share price revival in the short term won't be easy given the challenging outlook, as indicated by Investec cutting its operating profit and earnings per share (EPS) forecasts for next year by 16 per cent and 15 per cent respectively. Hold |
Posted at 09/9/2023 14:05 by giltedge1 Essential Investor, if you look back in posts I advised to switch to ULVR in Sept 22.ULVR going well with great businesses in India, China & USA can ride out any volatility in places like Nigeria, as a tiny percent of turnover. New chief on board & pushed through 10% price rises in 2023 with no change in volume. PZC gone no where in 20 years, great brands but lost there way. Controlled by sleepy trusts who make no demands on company. Best hope, takeover for those prepared to wait. |
Posted at 27/8/2023 21:52 by m_kerr partly sentiment and partly business performance. e.g. exposure to a market like nigeria can quickly go from being something investors love, to something they hate.it's a pretty stable, defensive business that's derated quite significantly over the years. i always try to look forwards, and as a result of that derating, forward looking returns look much better as a result. only around 11 EV/EBIT. |
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