Share Name Share Symbol Market Type Share ISIN Share Description
Talktalk LSE:TALK London Ordinary Share GB00B4YCDF59 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +4.40p +3.53% 129.00p 933,288 16:29:56
Bid Price Offer Price High Price Low Price Open Price
128.50p 128.90p 129.30p 123.90p 123.90p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Fixed Line Telecommunications 1,783.0 70.0 6.1 21.1 1,478.69

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Date Time Title Posts
26/4/201817:36Second Largest ISP in the UK2,726
10/10/201600:50The Really Useful Discussion Thread-

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Talktalk Daily Update: Talktalk is listed in the Fixed Line Telecommunications sector of the London Stock Exchange with ticker TALK. The last closing price for Talktalk was 124.60p.
Talktalk has a 4 week average price of 110.60p and a 12 week average price of 88.60p.
The 1 year high share price is 220p while the 1 year low share price is currently 88.60p.
There are currently 1,146,269,670 shares in issue and the average daily traded volume is 1,438,144 shares. The market capitalisation of Talktalk is £1,478,687,874.30.
pierre oreilly: With cityfibre being taken over at more or less double the market price, I would expect a bigger jolt to the price of talk. with 7.4bn euro of funding, it's really possible they may take out more companies in the same business. Nic Fildes, Telecoms Correspondent 54 MINUTES AGO Print this page CityFibre, the British telecoms company, has recommended a £538m takeover by a consortium of infrastructure funds backed by Goldman Sachs pitched at a 93 per cent premium to the share price of the company. It is the latest sign that funds are targeting Britain’s ‘altnets’; which are building full fibre networks in areas that Openreach, BT’s engineering arm, has yet to upgrade. CityFibre has an agreement with Vodafone, signed last year, and has targeted a roll out reaching 20 per cent of the UK population. Antin Infrastructure Fund, a specialist fund with €7.4bn of capital, has teamed up with West Street Infrastructure Funds, which are managed by Goldman Sachs, to make the bid. The bid has already been accepted by two-thirds of shareholders.
septimus quaid: 1gw, interesting piece of analysis. Means that Toscafund are picking up their additional shares from a fairly limited "pot" (surprised the share price hasn't risen a bit more as a consequence).
septimus quaid: The Baroness is now safely ensconced as chair of NHS improvement, so instead of blowing investor's capital she's in charge of squandering taxpayer's money. Not that anybody seems to care about controlling public spending anymore (the taxpayer having been beaten into submission by an endless diet of BBC propaganda telling us that austerity, aka good housekeeping, is bad). I digress, appointed to Talk in 2010, Harding left the company after a damaging seven years, with the share price pretty much as she found it. ...and, in her case, substantial personal renumeration in-between, the customary reward for CEO failure. Married to an MP, she seems to be part of that political/business/state jobs clique who so often get away with enriching themselves to the detriment of ordinary working folk.
1gw: The downside is protected (in my view) in that scenario in part because ultimately they will reach a level of equity ownership they are happy with and then any downward pressure on the share price caused by their buying algorithms will stop. And in a company as big as talktalk I would hope the impact of the algorithms on the share price is somewhat less than it might be in say a small AIM company - as ultimately other institutions would step in to buy if they felt the shareprice was grossly undervaluing the company. I don't think algorithmic selling pressure (intended to lower the average buying price) is going to stop out one of the big 5 shareholders, but it might at the margin scare out some PIs and weaker institutional holders. But mainly in my view the protection comes from my belief (which of course may or not be correct) based on limited analysis of past Toscafund positions that Toscafund would not be buying in so aggressively unless it saw a reasonable possibility of a value-adding inorganic move that it could pull off with the support of at least Dunstone and Ross. And in that scenario, I don't believe Dunstone and Ross (or Invesco and Capital) would allow the company to be taken out for a "pittance" so I believe any inorganic end-game would be likely to involve a premium (for shareholders) to the placing price.
1gw: I'm not denying they've lost money on their investments. I just think it's a great shareholder register (in terms of concentration) if they want to push through something inorganic (buyout, sale, merger). Another possible point is the impact of algorithmic trading, used I believe by Toscafund in particular, on the share price when there's a relatively small float of shares. i.e. if you assume that the 77% held by the 5 shareholders (+ Roger Taylor and Tristia Harrison) who participated in a big way in the placing is not currently available for sale, then that leaves only 23% max available. Toscafund currently have 12% according to the placing announcement and so could reasonably credibly be interested in a significant portion of the 23%. If they are using algorithms to try to keep the price down or bring it down further to optimise their acquisition price, then it seems to me at least possible that that algorithmic trading could be a significant factor in the day-to-day price movements.
septimus quaid: Talk's share price may be taking a further battering based on what, I presume, must be leaking information ahead of next Tuesday's trading statement (note, poor corporate governance). Presume there is another dividend cut or even a cancellation in the offing. Capita have announced similar today ("Dividend suspended until Company generating sustainable free cash flow") not hard to extrapolate the same unsustainable dividend yield (inherited from the Baroness) against an eventual dose of reality. If Talk cut the dividend it will be sh1t for people relying on dividend income (like me) but if it saves the business, then so be it. Note: "free cash flow" has become the new corporate mantra after the Carillon debacle.
septimus quaid: I think about lost opportunity sometimes but even this is fraught with risk, what if you’d taken your money out of Talk at £4 and stuck it in Carillon (I’m sure there’s a lot of similar examples)? The older I get, the more the stock market seems less about investment and more just out and out gambling. Plus everything is “priced to perfection”, one wobble and a company’s share price gets slaughtered. Look at Neil Woodford, the guy has been hailed as the UK’s answer to Warren Buffet. …although you might be glad you didn't invest in his Patient Capital Trust fund in August 2015. Woodford is the high profile figurehead, he will be surrounded by a team of experienced and very clever people to assist him with research and decision making. So, if he can’t get it right, what hope is there for the rest of us?
garycook: TalkTalk Telecom Group (LSE: TALK) currently yields exactly 8%. Yesterday it was yielding 8.33%, but Friday’s 5% share price surge has trimmed that slightly. The surge was triggered by a positive note from HSBC, which upgraded its investment rating from hold to buy and hiked its price target from 175p to 250p. With the stock currently trading at 198p, that would suggest a potential 26% upside, if HSBC is proved correct. This will only go a small way to reversing the disastrous performance of the past two years, which has seen the share price hammered by multiple cyber attacks, which cost the group £42m and contributed to the £18m fall in profits. TalkTalk also suffered reputational damage, when it emerged that the industrial scale fraud operation stemmed from Indian IT service firm Wipro, which it had contracted in 2011 to provide some of its call centre work. Quite a bundle Yet recent Q3 results were promising, with re-contracting rates in the third quarter stronger than expected, low churn, and a strong legacy business of loyal customers. The multi-services entertainment group is in recovery mode, its share price up 15% in three months, as it builds on its niche position in the UK telecoms market and looks to take advantage of greater demand for data and product generation, both for personal and business customers. It is in a five-way stand-off, battling to hold its own against big boys such as BT, Sky, Virgin Media and Vodafone, but has held its own so far. Forecast earnings per share (EPS) growth of 55%, 11% and 12% over three years should drive down today’s pricey valuation of 22.5 times earnings to a far more acceptable 12 times, although the yield is still expected to stay high at 7.1%. This could prove a good call.
1gw: Well whether through good analysis or coincidence, it appears Haitong have called the talktalk share price much better than nearly all the other analysts (although Jefferies has also had a "low" target price for a while). So I'm hoping that now we're pretty much at their 150p target, they might decide that's enough and the future looks a bit brighter. Strange how the Haitong updates never seem to get a mention on QP's thread...
bobsidian: Charting is an essential "tool of the trade" for investors or traders alike. Without it you can be operating blind whilst placing reliance on an investment justification which can be the subject of change. It is uncanny at just how often shares rise or fall within certain parameters. For example the most recent share price fall of TALK has been halted at a key retracement level which also seems to be a support level last seen in October 2014. Coincidence ? Equity markets deploy the discount mechanism. They price the future into the present. How often have you read investor/trader posts on bulletin boards complaining about the absence of share price movement to stellar financial results ? Much more often than not those stellar financial results would have been reflected in a share price a year or so previous. It is forward guidance which tends to be the key to future share price movements. However, quantitative easing has distorted the valuation of so many asset classes of which equities are but one class. To have equity markets at current levels you see share after share with a PEG factor of as much as 3 when fair value is 1. That in itself suggests market forces have been happy to see share prices reflect as much as 3 years worth of future earnings growth into the present. The last time we have seen that kind of behaviour was in late 1999/early 2000 and late 2007/early 2008. To have that kind of confidence there is a need for certainty about the visibility of earnings. That is now the subject of challenge by market forces seeking to reduce share prices to reflect a lesser earnings time horizon. And that seems to have triggered significant declines in the share prices of companies which were pricing too much of the future in to the present. As far as TALK is concerned, I can appreciate your doubt about the ex-growth commentary. The ex-growth assessment is more about the share price falling from the £4 level seen as recently as June. Perhaps this is down to the management of TALK reassessing market conditions by commenting on the rate of churn, the costs attached to attracting new custom and the financial implications of the profit margins achievable from new generation revenues relative to the diminishing legacy revenues.
Talktalk share price data is direct from the London Stock Exchange
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