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PZC Pz Cussons Plc

94.60
0.10 (0.11%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pz Cussons Plc LSE:PZC London Ordinary Share GB00B19Z1432 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.10 0.11% 94.60 1,248,374 16:35:17
Bid Price Offer Price High Price Low Price Open Price
94.90 96.50 95.60 93.30 95.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Soap And Other Detergents 656.3M 36.4M 0.0849 11.18 406.86M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:48:00 O 220 94.81 GBX

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Date Time Title Posts
23/4/202419:37PZ Cussons1,893
22/1/202219:29Results 2022 HY1-
24/7/201805:04PZ Cussons (PZC) One to Watch on Tuesday -

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Pz Cussons (PZC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:48:0194.81220208.58O
16:35:2094.31450424.39O
16:29:1194.2834,20732,250.36O
16:15:2394.6014,40113,623.35O
16:15:0394.7230,30728,707.09O

Pz Cussons (PZC) Top Chat Posts

Top Posts
Posted at 23/4/2024 09:20 by Pz Cussons Daily Update
Pz Cussons Plc is listed in the Soap And Other Detergents sector of the London Stock Exchange with ticker PZC. The last closing price for Pz Cussons was 94.50p.
Pz Cussons currently has 428,724,960 shares in issue. The market capitalisation of Pz Cussons is £406,859,987.
Pz Cussons has a price to earnings ratio (PE ratio) of 11.18.
This morning PZC shares opened at 95p
Posted at 12/4/2024 14:02 by justiceforthemany
Still holding and the Naira has strengthened about 30% in one month but is still 40% weaker since the last reporting period.
The share price is dead though. Sadly.
Technicals are awful.
Posted at 15/3/2024 00:13 by essentialinvestor
The share price may agree with your calcs.
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 08/2/2024 15:14 by bedford1976
My big concern here is the share price leaves PZC extremely vulnerable to a takeover. If anyone's going to buy us it's now. Our brands are worth a fortune in the right hands a mega cap multinational who can get products distributed on a truly global scale.
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 06/2/2024 08:42 by giltedge1
Tomorrow difficult to call as probably large write off in Africa, but div maintained hopefully. Presume other regions x Africa doing okay. Directors should put up for sale & shareholders will exit over £2, but timing who knows?, could be this year if share price keeps falling. May announce review of all options tomorrow leading to a rally.
Posted at 02/2/2024 21:33 by giltedge1
Wondered why share price weakness Naira has plunged again unfortunately. Looks like a kitchen sink job. PZC directors completely mismanaged FX over years leaving £200m in Nigeria now worth £50m if you are lucky to find a buyer.
Posted at 09/12/2023 09:13 by cfro
Well my opinion on valuation fwiw:

Peak valuation was once as high as £1.8bn.

My own personal opinion is that it has to be worth at the very least £1.5bn (or about 350p).

I like to compare with Unilever. I know, i know, it is just like comparing chalk with cheese as they are two completely different beasts but there are many similarities between the two nevertheless.

Unilever is valued at about £97bn ...thats Billion..

PZC is currently valued at £650m ...thats Million..

That's some disparity regardless of the fact that Unilever has many more powerful brands in it's portfolio. PZC still has a handful of powerful brands in it's.

I feel that if PZC could become more globally focused as Unilever is and if PZC continues to add to it's list of brands it owns (as it already has with Childs Farm) then it may, just may become a mini-Unilever perhaps? I would like to believe that it could..
Posted at 25/2/2023 13:23 by toffeeman
It won't make the slightest difference to the PZC share price.
Pz Cussons share price data is direct from the London Stock Exchange

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