Ten Entertainment Share Discussion Threads

[johndoe23] 09/1/2023 15:20

If they can achieve the forecast 30p of earnings next year, what PE would be appropriate, should the current strong trading continue?12 times wouldn't be excessive, meaning a share price of 360p

[adamb1978] 08/1/2023 18:11

Thanks JohnDoe23. Looking back at pre-covid years, H2 was marginally stronger than H1. So unless the business split has changed, then market forecasts are > £10m light at the top-line...

[johndoe23] 08/1/2023 17:27

Hi Adam,I would imagine existing forecasts will be beaten. Looking forward to a positive update and the all time high being eclipsed this year!

[adamb1978] 08/1/2023 17:08

Any views on a realistic outcome for FY22 for TEN?

I see that market forecasts call for £114m turnover...however if I add H2 FY21 to H1 FY22 its £120m

Any views appreciated
Thanks

[gswredland] 06/1/2023 15:08

Added this morning. This is looking encouraging. Last statement in September was good and BOWL's results were very good a couple of weeks ago

[johndoe23] 06/1/2023 14:33

Nice rise ahead of next weeks trading update.

[johndoe23] 14/12/2022 11:10

Gresham adding to holding

[johndoe23] 02/11/2022 09:02

Now above 200 and 50 DMA

[johndoe23] 02/11/2022 08:16

Bid/offer rising, must be a positive update imminent

[niklol] 01/11/2022 16:17

A lot of buys today

[johndoe23] 30/10/2022 18:14

Trading update possible this week

[baddeal] 10/10/2022 15:23

Agreed Box ticking rns by teg

[johndoe23] 10/10/2022 07:59

Good update from BOWL this morning, showing sector in fine fettle

[johndoe23] 06/10/2022 09:48

Decent buying thus morning. Noticed large delayed buy yesterday

[johndoe23] 29/9/2022 22:44

Tipped in IC this week

[shares9876] 27/9/2022 20:34

Liberum and Peel Hunt increasing target price needs to be taken with pinch of salt - house brokers. Look for others and what they are saying

[johndoe23] 22/9/2022 14:17

Level 2 looking decent

[johndoe23] 22/9/2022 13:28

Yep agreed sphere!

[sphere25] 22/9/2022 13:16

Abit of buying on that 475k coming in.

Has Slater picked up that 475k? lol

Just nibbled a few more

Going for the break higher

Do it!

All imo
DYOR

[riverman77] 22/9/2022 10:35

I guess it's all a question of whether the c. 30% higher footfall compared to the pre-pandemic levels is a permanent shift or will gradually reverse. If it is permanent then this is obviously way too cheap. Hard to say and still mulling this one over.

Reasons why it might be a permanent shift? Closure of many other family entertainment places during pandemic so less competition (soft play and trampoline centre both closed near me), better quality sites with greater range of activities will attract more people, and possibly more staycations and the fact that bowling is cheap alternative to other activities such as theme parks. Plus on the digital site, booking is now a lot easier and presumably makes it easier to utilise space during quiet periods (as well as extensive email lists to send out offers).

[johndoe23] 21/9/2022 13:36

Surprised only up 4%

[sphere25] 21/9/2022 12:27

Slater talking about recession proof/resilient shares:

"Slater outlined that just under 60% of the Growth fund portfolio is invested in areas he believes will be very resilient in the event of a recession, based on historic behaviour. That includes top holding and outsourcing giant Serco (SRP), fund administration business JTC (JTC), software group Marlowe (MRL), and cybersecurity business NCC (NCC), an area he deemed ‘a priority spend’.

A third of the portfolio is invested in sectors that have historically been hit hard in a recession, such as the media sector, because advertising is often one of the first expenditures companies cut. But Slater believes the companies he owns will be more resilient.

He highlighted publishers Future (FUTR) and Ladbible Group Media (LBG) and website domain business CentralNic (CNIC) as companies that fall into this category. He noted they were all benefactors of changes in third-party data laws, which have troubled the likes of Meta and Snapchat.

‘CentralNic said in its figures the other day its organic growth rate for the media business was 98%. It said it “proved entirely immune to any adverse signals from the market”. We’re putting it in this one-third category where we think there might be a problem, but we don’t think there will be.’

He also highlighted the leisure sector, which could be neglected by money-saving consumers during a recession. He owns ten-pin bowling companies Ten Entertainment (TEG) and Hollywood Bowl (BOWL), which he believes are likely to be unaffected because bowling is the ‘cheapest form of family entertainment’.

‘Both businesses have a very low labour content so they’re much less vulnerable to high labour costs than most and they’ve also hedged their utility costs,’ said Slater.

About 10% of the portfolio is classed as previously having ‘some sort of problem’ in a recession, such as publishing company Reach (RCH), which has had issues with high newsprint costs and softening in their advertising business, and electronic components manufacturer TT Electronics (TTG), which has suffered from supply chain issues."


IF TEG remains unaffected, it can't be far from the bottom. I'm not finding it as easy as Slater to make this call though. You look at how compressed the valuations are in some shares and you do want to buy and hold and play for the 50%-100%+ moves but it still looks too perilous out there.

But Slater has put money where his mouth is with increasing the holding this year, and to a notable 12.15% as per the last holding news release I can see, so maybe this will end up as one of the few that is a much firmer buy and hold proposition right now.

Come on Slater, buy some more and get this through 200p! Let's see some big buying this afternoon :-)

If it farts around here, it's an exit and will re-review.

All imo
DYOR

[baddeal] 21/9/2022 08:31

Good numbers and way undervalued imo. Should be north of 300. Plenty of long term growth to come

[sphere25] 21/9/2022 08:05

Long TEG and long XPS straight off the bat.

Both look oversold and due at least a bounce.

Usual exit if no bounces.

All imo
DYOR

[johndoe23] 21/9/2022 07:51

Can't genuinely see any negatives?! Fixing of energy prices until 2024 on 2020 prices very good