Robert Walters Share Discussion Threads

[yewtrees] 09/1/2010 15:15

Financial Times this time 8 January 2010

Shares in recruitment companies have surged over the past two weeks and – excluding Friday's dip – Michael Page is no exception. The headhunter gave a clear indication that the worst is past and, while the strength of any rebound remains unclear, the company's global spread means it is well-placed to gain wherever it happens. Michael Page shares trade on a multiple of 51 times 2010 prospective earnings, which may sound high but is slightly lower than peer Robert Walters' p/e of 52. Much of the forecast recovery is priced into Michael Page's shares, but given its long-term potential, they are well worth holding.

[imastu pidgitaswell] 05/1/2010 08:24

Yes, far better to follow the Daily Mail for its incisive political analysis and inclusive/pluralistic approach to society...

:-)

[yewtrees] 04/1/2010 21:54

Glad I didn't take any notice of Daily Mail last month, when they recommended Robert Walters as a sell.

[imastu pidgitaswell] 04/1/2010 14:00

Weird this share - up 33%, down 25%, then up nearly 50%, all in the space of just over 3 months, all with one no-news trading update.

Which I was a marketmaker...

[gswredland] 23/11/2009 19:37

I hold these but would love 100 again to grab more.

[imastu pidgitaswell] 23/11/2009 11:13

Pretty strong shake...

200 day moving average coming up, then 150 as apparent support?

[jon123] 30/10/2009 07:16

i think its mm's shaking the tree

[yewtrees] 29/10/2009 18:58

Thought as much, they wanted some shares for their benefit trust on 27/28 oct.

Shame they have gone down today.

[yewtrees] 27/10/2009 18:08

A good price received for sold shares, does that mean someone whats some shares?

[ohs1978] 30/9/2009 22:13

interesting times indeed!
i have a small holding in RWA and the reason i bought was that i was seeing a huge increase in IBs really gearing up their recruitment... and i believe (and hope) RWA are well placed to take advantage of this.
obviously the strong rise today was due to some other news... we'll probably find out tomorrow... a buy out rumour perhaps?

[gswredland] 30/9/2009 15:22

Wonder what is behind all this!
Interesting times...

[gswredland] 24/9/2009 20:07

Decisive breakout in a falling market today.
Bodes well.

[nigelpm] 30/8/2009 17:52

Clearly was very undervalued at 80-100p when I bought some (could hardly believe the price at the time) but now it looks reasonable but nothing more.

[imastu pidgitaswell] 28/8/2009 09:26

I don't see anything too surprising in those results. A headline loss, but essentially a big drop in revenue (not as big as MPI) and a lag in losing the costs.

Net cash of £22m. Looking at the cashflow, they obviously collected a lot of the debts, didn't generate anything like as much in the way of new receivables, hence 'took in' a lot of cash - a loss of £2m was actaully a 'cash-in' number of over £9m.

So you have 70.4 million shares - at 1.46 = £102m. Less £22m in cash = £80m for the business. How much is it worth? Well you have to value it over the cycle - not at peak earnings, not at current (lack of) earnings. Or consider a takeover value.

I will be looking for a bit of a dip, and even then may think about it. Not personally convinced that we're through this recession yet, could yet double-dip. But I do like the ease of understanding of this business, the ability to react to revenue collapses, the absence of debt, the hard cash in the bank (no share dilution here) and its general valuation.

[jon123] 18/8/2009 19:18

we'll know for sure on the 28th as results are due,looking at the chart 150 looks like support

[imastu pidgitaswell] 18/8/2009 08:58

Dismal from Michael Page - virtually no underlying profit.

Clearly played this wrong (again) having not bought at 80p, but I just don't see any signs of the business improving, nor do we know how bad it actually is. Still, there is always a price for everything, and 80p was too low.

fwiw, 71m shares in issue, current market cap (at 150p) therefore £106m, net cash of around £20m, leaving a business valued at £86m. The question is how much is its business worth, valued either at current profits (unknown) or post-recovery (also unknown, but some £24m after tax at the previous peak).

Gut feel is that it's a little overpriced at 150-160, but underpriced at 80p. Then again, the markets look forward, depending on which day of the week it is, so Gawd knows...

[gswredland] 10/8/2009 16:50

Going well ahead of results

[mrmerkin] 16/7/2009 20:45

spiked north to 148 at end of day?

[mrmerkin] 10/7/2009 10:02

job market in London stabalised say Hays

[cockneyrebel] 08/7/2009 15:42

Nearing a breakout.

Just announce the bid, give me my £2+ a share and lets move on :-)

CR

[cockneyrebel] 08/7/2009 15:22

RWA - getting away :-)

CR

[cockneyrebel] 08/7/2009 10:27

All buyers again today.

CR

[cockneyrebel] 07/7/2009 11:36

Look at those buys!!

CR