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Also added some more as this share has well & truly been beaten up. Cant do anything regarding the market drop which has caused the S.P. to drop a lot more than the dividend, but looks to be a great entry price long term. Fkn Yanks always spoil the party.
Ended up holding for the divi.
Ex-divi drop was to be expected, plus the whole market is taking a beating again today.
As the yield is currently over 7%,
added some more today at 635 to lower my trade exit target price further.
Hope the knife dosen't cut too deeply !
Its funny because I could never see this pretax loss when I read the H1 results. I read this statement only
Group operating profit of £527m in H1 2021 (H1 2020: £361m
We'll, I've topped up again at these prices & if the price drops again on ex-divi I'll be happy to reinvest the divi. No problem long term here, fantastic opportunity to average down, already by far the biggest stock in my portfolio & it's staying that way.
That was as predicted a rather cheeky dip down to circa 656 (actually 653.60) this morning.
Looks like the CEO was ready and waiting to take advantage of it !
See today's RNS.
@Velo I wish you would have posted a week ago !!!!!!!!
PPS:
Only just taking in the significance of the header I posted under ie., secondary placing complete.
Probably the real reason (or additional reason) for the pullback in the SP.
Over the years I was holding PHNX, there was always a placing going on. never recall them ever stopping LOL!
- AND there was always a great concern by all holders to take up our entitlement, lest we lose out. However, when the SP was ameliorated downwards after the issue was complete.
- In my time holding this stock it became obvious that the SP always retreated back to the low issue price; often a little further below it!
- thus meaning you didn't have to be so concerned about not acquiring your full entitlement.
I swore back then, that on any new occasions such issues were made, I'd sell up, and buy back dirt cheap, when eventually the price reflected the added shares at a lower placement price - they always did.
But when push came to shove, I never carried out my threat.
But if there has been a placement at an advantageous price to the prevailing market price, then the placing is up there in the line-up, with the other culprits in the frame, as the reason/s for the pullback.
STOP PRESS:
Took the RNS on this site as read in good faith, but mistook their operating profit (£half a billion area) for net profit.
When I checked properly just now, there is no net profit for H1 - PHNX has turned in a similar amount - but as a loss. Yikes! A loss!
Not seen a loss in the H1 period, in many a year.
I now think the pullback in the SP is not for any reasons stated in my initial post below, but because of the H1 loss.
Had to Google to confirm a loss in case it was me.
Here's a link stating that net profit loss -
https://www.professionalpensions.com/news/4035715/phoenix-%E2%80%98-track%E2%80%99-strong-end-result
I'm actually a bit taken aback - all media analysis sounds positive - the RNS is positive.
Can only read the first para and the headline as it looks like behind a paywall. It does though sound very positive, forecasting a full-year net profit to please all.
Didn't see any posts on here mentioning a net profit loss, so you can imagine my lack of confidence in casually discovering H1 has actually produced a net loss at H1 (Operating profit in the RNS showing a profit was what confused me at first).
Anyway, despite that shock loss, all media reports are very bullish (including that link above) and all forecast a good result by year end.
- Geez! I hate trying to interpret finance stocks: Hard as hell to see the trees.
Now rescind posting my thoughts on the SP pullback based on the sight of "good results".
Will let this SP downtrend play itself out first by trend following the SP instead, so no SP forecasts from me.
When it ceases pulling back and commences rising, I'm hoping Sept 3rd will be long enough to sort out the SP, but if not will let the trends sort it out for me.
Just popping in to look-see one of my holdings I once held from way back in the day (sold up just before the 2020 March crash got going propa @ just under, near £7) as PHNX has been mentioned as a 'pick' by the odd guru and billionaire types etc in interviews in recent weeks.
Surprised to see the SP dive on good results.
Is it a case of buy on the rumour and sell on the results?
(Only long-termers on here can confirm if the SP has a tendency to pullback after results are announced)
- And if not that, I noticed the divi mention in the results. Checked and yes, holders get a divi paid to them pronto, on Sept 3rd.
Checked again and the declaration date is given as 11th August so defo from the results day: so that's quick, on the day you get the annual results you also get a quick divi payment within weeks :)
So, unless there's something in the media highlighting the pullback is due to some other influence I'm going with a fear of what happens to the SP on XD day (next Thursday, the 19th) as the SP topped out of a nice emerging uptrend the day before the results and the first 5 minutes opening on the 11th results day
- after that first 5 minutes the SP was sold off, peaking and troughing but generally dropping away, all day.
Which means whatever the SP closes on, by close of Weds the 18th next week, you'll wake up Thursday morning to at least 25p lopped off the SP instantly that morning.
So should the SP close Wed night similar to what the SP is this weekend, then from Thursday onwards the SP can be bought for somewhere in the 630's for those who don't mind foregoing the divi, the principle reason for investing here in the first place.
But that's assuming the price falls no further. But from the past couple of days and Friday's close, the SP looks in no mood to cease pulling back next week.
So only of interest to those looking to buy in. In fact looking at the sentiment of the SP, I'd say lucky to only drop as low as 630's - unless it drops no further on Monday, and holds this area into Weds close.
Mind you, it's closer to the oversold border than the other, so should that occur, the cavalry wouldn't be far off arriving, but I'll go for the cavalry arriving on Sept 3rd - divi payment day.
In between next Thursday and the termination of XD period on Sept 3rd, and the SP pulls back low enough, I might be tempted to re-buy an old acquaintance:)
Have held these for a trade at 674 since June.
Should really have sold on the 2 days since then that the SP hit 700.
But didn't as the TA hinted it might stretch up to 720 at some point.
Added at 666 today to double my holding.
Now hoping for a suitable (lower) trade exit next week before ex-divi.
But wouldn't be suprised to see a quick dip to circa 656 on Monday.
Yield is circa 7% at this low price,
so not the end of the world if left holding for the divi.
Good luck next week holders and traders.
Well, bad press is never good when it comes to a share price, but medium term not really. Imho the share price is being held down at levels it really shouldn't be and will bounce back, though to what price I'm not sure. The fundamentals are good which is reflected in the solid dividends. Of course I'm a complete amateur so I may be way off.lol. DYOR.
Bad press this weekend...does it matter?
PHNX has been on the watchlist for a while now.
Decided to take the plunge today on this week’s non performance related related share price drop. Will soon bounce back over £7 and with a fantastic dividend to keep me happy.
I agree with Taverham,
the SP may be held down in the short term, and possibly even revisit the 660s.
I bought in today at SP 674,
as the RSI is currently 26 (oversold),
the yield is circa 7%,
and historically the SP has risen from lows to highs leading into earnings dates.
The next earnings date , and subsequent ex-divi, is listed as August,
a resonable time frame for the SP to potentially recover.
Always DYOR.
The overhang caused by the placing will hold the sp down for a few weeks imv. However ,the great yield is too good to resist and therefore I have bought more, with capital growth also in mind.
"Will they recover back to over 7 quid."
Yes, very likely in the next two weeks and will be looking to pass £8 by year's end. It's a very solid dividend share and I don't see that changing. My average is 681p but that actually makes me well up taking into account all the dividends I've received over the years. Can't go wrong with these. Solid shares always bounce.
Good dividend. One of the best value stocks at the moment.
My average is 715 so well down this morning. Will they recover back to over 7 quid.
Nice discount at 660p. Dividend over 7%