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by the fall from recent highs the market was expecting a flat update .
Taking the div into consideration this now deserves a re-rate to new highs , don't suppose it will though with the negative projections for world trade.
I certainly should have added on the earlier lows.
On a quick glimpse the results look excellent.
Most importantly a div increase. Looking ahead the macro environment does not look very promising , but the company have shown that they can handle change and the business model is moving to accommodate change.
Deserves a re rating , having a strong balance sheet and div which at worst should be sustainable.
I don't suppose there will be a sudden rush to buy but I will be adding on any dips.
Yep today's fall seems overdone . I still hold here, not too bothered with the sp because the total div / yield is approx 6 % and it is likely to be maintained .
A lot of negativity around at the moment with trumps myopic trade disputes / government shutdown / Brexit concerns / some director selling ,so I will hang on before adding , we could yet see another market downturn and the mm' s will mark this down with glee in a thin market.
Recent Broker Targets:
11th Jan - UBS - Reiterates previous target of 520p
10th Jan - RBC Capital Markets - Outperform target of 670p
7th Jan - HSBC - Buy rating with target of 675p
A very strange day indeed.......
In my view, an opportunistic stunt by the MMs to tap into fear over the Brexit vote even though 4/5ths of the group revenue is outside the UK and Europe. A ftse 250 company 8% down with buys outweighing sells by 25%..... come on, seriously???
Having researched a bit more, it looks like the drop today is due to year end operating profits 'ONLY' being in line with projections, rather than the hoped for / expected 'exceeding projections' which was previously notified in October and reported in headline news by the FT.
This is the only 'disappointment' that I can see with the current situation but in reality, any company booking profits which fully meet expectations and show strong growth in the current economic climate is doing very well indeed.
I do not believe that the company is even that exposed to Brexit as UK recruitment only accounts for 1/5th of the business revenue stream. Of the UK revenue stream, this only dropped off 0.8% in Q4, in spite of looming Brexit chaos, whilst the remaining 4/5ths of the business, representing global revenue streams was up over 15%.
The MMs are totally mis-reading the situation here or, more likely, are playing into peoples nervousness at the present time.
This company is nowhere near as exposed to Brexit as even I first thought!
Strong KPIs here as evidenced by today's trading statement. Good margins and a nicely diversified Client sector makes this a sound defensive stock at this moment in time. The fact the company can generate such good numbers in Q4 2018 in the shadow of Brexit is a testament to this.
Good to see both Merian Global Investors and Liontrust buying significant holdings in the closing months of 2018 at a significantly higher SP and continuing to hold.
I find it hard to believe the SP reaction today particularly with reported buys nearly outweighing sells by 2:1. Ripe for a strong technical bounce on trading pattern alone before any fundamentals are factored in. This is being treated like a small cap or an AIM share today with a massive and misplaced over-reaction to the trading update.
Just look at the accounts of the FTSE250 company and listen to the trading update online for heavens sake.....
Ah well, just a little patience required for sanity to start to filter through after the MMs have positioned themselves nicely for the inevitable rise...
Having listened to the full year results conference call and studied the results I am of the firm opinion that the drop today has been overdone and that the current SP reflects a great buying opportunity.
Q4 2018 was a record quarter with gross profit up over 15% with year on year growth across 20 counties up over 20%.
Strong cash position of c.96 million pounds and 2018 operating profit to be in line with expectations despite concerns within the sector over Brexit.
The only reason I can see for the drop today is that growth or profit was not as high as expected however the CFO has stated on the record that operating profit is in line with published projections. It could well be that the market expected more growth but honestly, 15% growth in the last quarter and overall annual global growth annually of 20% is brilliant especially in the current climate of uncertainty.
The ratio of fee earners to support staff has never been higher and the 2019 outlook is strong. Any improvement in clarity over Brexit and/or the China trading outlook and this will improve further.
I can't see much downside from here and think that this point represents a great recovery play as the market is currently either messing with this deliberately hoping that people won't examine the fundamentals or have completely overlooked the facts!
new highs on a regular basis.
With a prospective yield of 5% and a PE of 23 along with some immunity to brexit concerns this is still too cheap.
Here's hoping for another deutche downgrade , the last one worhed wonders
One wonders about the intent of the deutche " downgrade "
At best it was highly incompetent
At worst it was highly immoral .
Up about 35% since
Yes has potential but the lack of liquidity and large spread is a handicap . I honestly had no idea that such micro caps existed. I have a couple of AIM shares with similar low vols but I am prepared to hold them for many years.
Interesting time now for recruitment with the global economy ticking up at a touted 4% growth.
But are the economists correct ? If the infant trump has his way with America first and import tariffs things could very quickly go into reverse , that rare beast inflation will re- appear and the populace will not be buying at his fancy prices.
Good for the smaller companies in this sector also. KLN stands out for me at �2.3m market cap and sales of �21m and should report a profit this year.
This has risen 25% in just over 1 month with a div in the offing since the deutsche sell downgrade.
One wonders exactly who the " sell " recommendation was meant to benefit ?
Very decent update from the company sp + 10%
The not so esteemed deutsche got it bang wrong.
How is it possible for a tin pot website like ADVFN to have so much manipulative control over the sp here without cooperation , whoops!! nearly said collusion from MM's . It is perfectly obvious that the ultimate reason for the "deutsche updates " is for the manipulation of the sp to make a sure fire quick buck.
I also find it rather strange that ADVFN feel that it is perfectly OK to put their " updates " in the same format as statutory updates and within the same stream . Pretty obvious that this is done to give their " updates " the illusion
of some authority. I feel that the FCA should look into this.
If ADVFN are going to continue with this scam at the very least it should be confined to a specific part of their website and not within the regulatory stream.
The situation at the moment is akin to the helpful guy that knocks on your door to tell you that your roof is in urgent need of attention and he can help you out. Or the nuisance phone caller that tries to scam your credit card number.
Ditto for 3rd Jan . They fancy making some easy money again. Probably a reiteration of the esteemed Deutche nonsense . I have absolutely no intention of paying them �36 to find out. A " news flash " issued at 7.10.
Since the Deutche downgrade this has risen by an annualized ( yes I know ) 60 %
Still have not found out the reasons for the downgrade . The website has at last come clean and informed me that it will cost £36 / month to get juicy tips ahead of the market no doubt by email .
Oh yes !! I am really keen to supply them with my email address and get the inbox bombarded with offers for viagra, magazines and various chemicals .
If they sell on the address I can then look forward to investment offers from Nigeria britain and Albania .
I wonder if the esteemed Deutche ethics committee are aware that their highly valued analysis has been hijacked by this website.
this opened 5% down for no apparent reason.
No RNS the obvious answer
No negative Brexit news
No company specific news in Europe
No general market downturn
After some delving i found on another site a proud headline in UPPER CASE Deutsche takes negative stance on Page Group. I clicked on the article and to my amazement they wanted my credit card details before enlightening me on why they have scammed a company that I own. Needless to say I declined the pleasure of paying monthly to find out who they are scamming next. However I will be taking note to buy any such company because like Page Group they will more than recover within a matter of days.
I call this a scam because a share should only open 5% down as a result of the factors listed above. They could not pull this off with regards to a large cap share , so just find a medium size company trading without large volume inform your associates that it might be a good idea to open a short term short and advise market makers that the esteemed Deutsche will be issuing a negative note and Bobs your uncle.
This sort of market manipulation is highly discreditable and should be stamped out.
update received badly by the market. Fall has been overdone IMO .
Still enjoying excellent growth and guidance remains unchanged . Cash will be at a relative low after div pay out but this could simply be the result of timing issues .
high . Looks like we are getting a long overdue re-rating . One of the few stocks which might actually benefit from Brexit in whatever form it takes . The only potential problem on the horizon is the situation in Catalonia , but hopefully management are noting and making safeguards .
rise today probably punters trying to pick up shares before the 8th Sept deadline.
CZ Capital opened a short position here at the end of Oct when this was about 363 .
Don't ya just hate it when when shorters get shafted.
I am not a chartist but it does look good.
On fundamentals we have a company with a proven nimble management and a strong balance sheet / div .
I am still holding / buying.
PAGE Page Group. formerly MPI breaking out. Recruitment mostly Uk and Europe. Does a bit in the US. Slow burner but I like the look of this chart.
<b><u>PageGroup Plc engages in the provision of recruitment consultancy services.</u></b>
It operates through the following geographical segments: Europe, Middle East, and Africa; United Kingdom; and Asia Pacific.
The firm's primary brands include Page Executive, Michael Page, and Page Personnel.
It also includes supplementary brands throughout international locations namely Page Assessment, Page Consulting, Page Outsourcing, and Page Talent.
The company was founded by Michael Page and Bill McGregor in 1976 and is headquartered in Weybridge, the United Kingdom.
<b><u>Valuation 2017e 2018e</u></b>
P/E ratio (Price / EPS) 18,5x 17,3x
Capitalization / Revenue 1,10x 1,06x
EV / Revenue 1,05x 0,96x
EV / EBITDA 11,3x 9,92x
Yield (DPS / Price) 3,06% 3,42%
Price to book (Price / BVPS) 4,86x 4,40x
Q4 update looking good for the full year .
Very nimble management, the company appears to be on the cusp of a new growth phase with the roll out of the new operating system and the Barcelona centre.
Conjecture, but IMO Brexit could be very beneficial to the company. When it is actually triggered there could be a lot of cross border staff movement and recruitment which will add to the bottom line.
In the event of weakness in the SP I will be adding
the way that company after company are stating that they face difficulties with the UK economy , yet our political leaders continue to claim that all is hunky and chunky ? Porky pies !!!
today should bode well for the update tomorrow.
Significant proportion of revenue is non sterling which will assist. Guess the brexit fiasco could inhibit some hiring activity in the UK but who knows ? There could be an increased churn which might actually increase revenue.
Strong div will hopefully be maintained at year end.