I've added a few under 280p, kept some cash back in case of a plop under 250 |
It's very close - book value at the half year was £120m, so likely around £125m at 31/12, so at 278p it's valued at ~1.08x book, which is exceptionally cheap. Particularly given the >£4m boost that PBT will receive this year without Rezorce costs, which is forecast to drive EPS to 29.5p, so at 278p shares are on ~9.4x PER
Cheap as chips for a company which beat expectations... |
is this trading below book value? nuts if so... |
Share price might have bottomed, but ideally it would be good to see some volume to give some confidence that the seller has finished. Obviously this short term noise is irrelevant over the longer term if the company continues to execute. |
Isn't the share price problem centred around the contract with Nike ? |
Gervais Williams gave this a plug yesterday:
34 minutes 30 in.
-Core technologies strong
-World leader in industry with incredible long term opportunities
-Takeover target
"Get stuffed...." to any bidder ha |
Each 1% reduction needs an rns |
Can't remember the notification requirement.. if they are selling we'll only find out if they go below 10% I think |
I assume Schroeder are still the main drag here. Have they really decided to sell out completely? It would be a pretty serious indictment of the research they did prior to acquiring such a large stake. They look cheap down here but i can't buy until there are at least a few signs that the bottom may be in. |
Capital markets day hopefully will reveal some medium term revenue drivers. High margins with operational gearing mean sales growth is critical. Earnings 2025 will get a boost from removing spend on ReZorce so that should be baked in. |
Schroeders still selling? |
Schroders taking the chance to reduce their position |
 Thank you Spooky. Nice when they pop.
It is still a wait and see though.
The main thing here is that someone has stepped in to buy in size at 310p. I check the delayed prints at this time. We have totalled 707k - good start.
This looks the first bullish move in this ongoing downtrend. It was pinging off that £3 mark and with buyers in size now at £3.10, at worse (barring macro deterioration), I think this could be a bottom forming.
On the flipside, that move today didn't come back down. Sometimes these illiquid pintraday pops do correct so that is food for thought as well. If they do keep buying, there could be more of a spike, but I think the main thing is how this reacts on any down day now. If they start buying the dips, then that should be the confirmation of a trend change.
But overall it is still hard right now to be too optimistic. There are so many of these charts. You can get very sharp trading bounces - alot of relief rallies on news not being as worse as being priced in, and then some surprise to the upside like LUCE yesterday and ZTF.
It is more a traders market isn't it.
Pretty obvious there are stale bulls and forced sellers everywhere, especially when you look at how someone sat at 132p yesterday at LUCE and how ZTF didn't even move on that beat.
But the main thing is....some form of relief for holders that someone is at least giving the Bears here a game now.
It deserves to go higher, as per many others out there. If you perform like this in this macro environment, you deserve a higher rating.
But we all face a challenging market.
And that is my final little tuh pence worth of....wordage ha
Time to fall over and crash.
Have a good weekend all.
All imo
DYOR |
ref 2025 stockopedia has 29.5p eps for 2025 - looks like that figure hasnt changed much in the last 6 months (negligeable tick up this month) |
Pretty impressive timing Sphere, well done. |
There's an algo in the loose.. 331 paid |
You're always here first Spooky ha
Taken a few at 310p.
It is being held back.
Watching these blocks hit at 310p:
145k
80k
50k
Come on...
Show us some whoppers to clear the sellers holding this back.
All imo
DYOR |
That sounds about right. Obviously someone somewhere doesn't believe they will make those. |
Any broker forecasts for FY25?
Quick calcs and I’ve got circa 30p eps. |
never launched so we will never know. |
Haven't you asked that before some time ago?Apols if misread. But someone posted previously that ReZorce is about 10% more than other similar products. |
How did Rezorce pricing compare with their current products ? |
yes - 9 times next year forecast and 8 the following. that puts it on a free cash flow yield of 9%+ nuts imho |
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