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Well, it's certainly sentiment that is driving this lower imo. NSDQ, SnP, Dow, all back to pre-covid levels more or less, especially VIX! (volatility index), and with the economy opening back up, everyone is acting like it's business as usual. Real question is when will the slump return. I'm not sure it's a "V" market trend?
These look like a bargain because the plus update has confirmed growth in customers on these platforms and given igg hedge they should not have the problem of losing bets to customers.dyor.
Just bought in. Thought I’d missed the boat when the very positive trading update was released. There’s going to be plenty of market volatility these next 12 months which will give massive trade flows IMO. Apart from the obvious current situation we’ve got the USA election coming up.
Just sold some ng to buy another £4k here. bargain imv!
I've added some at 783p.
It is bizarrely cheap considering the dizzy heights of the indicies.
I think the markets are thinking that a general rise means lower volatiliy - not so, imv we will see a big sell off soon!
Or I should say not debt free but no net debt, cash rich
Hi! I've been buying opportunities elsewhere. I sold, maybe a mistake, 50% of my IG shares between 720 and then 776. But did make gains elsewhere. Bought and sold AA and Vodafone so I am happy.
Results are very good. In my view IG always gets sold off on good results no matter what. One thing I've noticed is that market has forgotten that this share is debt free. So even if markets became calm, this share is ultra secure and should be trading over £10. PE should be at a much higher range. I got 35% on my funds on cash, I am considering buying in today to secure more shares under £8. Yield is still 5.4%.
No probs, I took by figures from the RNS on 24th of april, although I missed 5m of costs out as well for the IG Brighter Future fund
Apologies. I don't know how I got that. Must be mistake while inputting into calculator.
I get P/E of 10. My earnings prediction slightly higher than yours.
Please report my other post.
Also P/E isn't of great use for volatile earnings, you cant really use it to compare it to other companies, only the same type of companies during that same yeah financial year so PLUS and CMCX.
How do you get that PE?
Revenue = 649m
Op costs = 300m
Remuneration = 42m
Profit before tax =307
PAT = 245m (estimated tax rate of 20%)
market cap= 2900m
2900/245 = a P/E of 12
Using expected FY results I get:
EPS = 1.757
P/E = 4.55
Cheapsharesboy, you around? What are your thoughts.
Obviously the results are great. But are they wow? Were institutions expecting more. I think that's the real question.
@MattThebrave, how are they better than those flagged in april? They did 173m in 36 days of trading (revenue/day =4.8m/day in the april upudate, they have now done 86m in the last 25 days of trading, that's 3.4m/day. There was nothing actually unexpected in the RNS, therefore it was already priced in.
I cannot fathom why the stock is now flat on those results (they were much better than was flagged back in April). A few short-termers getting out I guess. I would still be a strong buyer here.
Because while it was a good RNS, it was basically an expected set of good results.
Expecting this to close above £8.50 because trading is stunning and set to continue imv - we shall see DYOR.
Why only 2% gain so far after such a good RNS?
Great RNS - not only is full year forecast 36% ahead of last year, but it's 14% ahead of 2018, the peak year. This year will get off to a great start as well. I fully expect to see an increase to the dividend here as well. I think this will now move up towards £10.
good start
IG Group Holdings plc
IGG
822.00 GBX
+26.00 (3.27%)
Assume operating costs for the year is 10% higher than last year so £310m...which means operating profit of £340m (last year £190m)...nearly 70-80% rise...sp should go to 1000p IMO!!
We have done 7 months business in 3 months... Wooow!! Meanwhile I don't expect expenditure to rise huge amount... You know what that means... £££ profit!!
Trading Update
The Group issued a Q4 trading update on 24 April 2020 which noted that quarter to date net trading revenue was estimated to be around £173 million. Financial market volatility has remained elevated and the Group has continued to see high levels of client trading activity. Net trading revenue in Q4 FY20 is now estimated to be approximately £259 million (Q4 FY19: £117.9 million), with full year net trading revenue anticipated to be approximately £649 million (FY19: £476.9 million).
There is a little chat about IG within Plus if anyones interested...