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Playtech CEO Mor Weizer following the announcement of the supplier's H1 results. Revenue increased 69% to €736.1m ($817.4m) in H1 2019, in part explained by the success of its Snaitech acquisition.
Although from last month his upbeat attitude to the results, plus the pipeline ahead the reason for changed sentiment here?
l hope so.
Cannot imagine why they chose to halve dividend and buy back shares. This was an income investment for many investors. If I was cynical I might suggest increasing earnings growth is better for directors bonuses or share options. Only surmising.
At last some reversal of recommendation of share price from a broker, will it make any difference? well it's better than cutting the price to 550p, pity they never give a time scale to get there, I am thinking it's years, but that's just my reaction to the battering this company has taken.
Still look forward to bond repayment in November so that will reduce some debt.
Jefferies raises price target to 620p from 570p
Dividend halved which has not helped sp. Share buy back sensible at these prices...just wish I had stop lossed at 500p having purchased "after the big drop" at 600p!
Still making money, sp looks cheap imo as post Brexit with a weaker £ a number of uk companies might attract bids DYOR.
The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's book value to its current market price and is a key metric for value investors.
It rarely falls below one ....., a quick check on PTEC value 0.98.
Well that didn't last long, and now testing 393p, due to the fall of the pound PTEC finds itself amongst a group of companies vulnerable to a take over from overseas investors, and with sp decline making it an even cheaper option this seems a possible outcome.
Will we test our year low of 357p its possible if the markets continue lower, but with updates not to far away and the dividend to come I would like to think this is its low point.
If a take over comes at 25-30% above the current sp would give a sp of around 500p
good value for the buyer, not so good for lth, food for thought.
Well that didn't take long, but can the sp keep going or slip back?
Good to see the launching of two new roulette titles details below,
So JPMorgan started coverage of PTEC and what were the wise words and wisdom that came from them.
Playtech is well placed to meet guidance for FY19, which we think will represent a trough in terms of organic growth, margin and cash flow,” they said in a note to clients.
"Beyond FY19, we expect broad-based growth across B2B and B2C."
JP Morgan Cazenove also believes Playtech is “less risky” than it was even a few months ago.
“Group revenues have been diversified by the acquisition of Snaitech, both by nature and geography, which dilutes the elevated risks associated with the B2B business.
“Several adverse regulatory changes have already occurred (UK, Italy) and Asian revenues have reduced to <10% of the group.”
Even if you took away all of the remaining Asian revenues, the analysts argue that would still imply a “reasonable valuation
So nothing lth didn't already know, or anybody who has even followed PTEC from a distance, basically confirms what we know PTEC is okay and geared for growth and the Asian part of the business is far more less important than it was.
On the executive front Susan Ball only joined the board in August of last year, but will depart Playtech at the end of the month in order to pursue new opportunities.
Still can't get past 450p and hold onto it, but we are getting closer and it it only looks like a matter of time now, due to the new broker boost.
Looks like it’s working!!!!
Deutsche Bank today initiates coverage of Playtech Ltd (LON:PTEC) with a hold investment rating and price target of 460p.
Is it any wonder why PTEC can't hold on to any gains when the broker releases a recommendation like this? sp doing very well heading towards 460 then nip the rise in the bud with a damp squib of a recommendation and watch as it falls back.
Brokers do they have any idea? especially Deutsche Bank, I thought they were on the brink of going bust, due to being run so well ..... or not.
Nice them dip into their pockets and see some buying by the directors, especially since the sp has been languishing around these levels for some time, no coincidence the sp got a small boost.
Some activity with GVC as well a bit of a love in, so shows a good relationship there which needs to develop further.
Not been checking in as much of late but spotted the amalgamation of trades totaling 1,896,796 for a value of £7.716m at 4.35pm, so it appears that there has been plenty of swapping and changing amongst the ii as sp has been more or less static.
Hope that the ones who want out got fully out and early next week we get an RNS to tell us who is moving in and who has moved out.
No new partner products launched of late but lots in the previous few months, so I assume they will need time to assess how popular they are.
I think we are at an inflection point at 400p ish, betting and gaming companies are out of favour at present but that doesn't make them bad businesses, and PTEC continue to be the go to company for the software requirements of these companies, whilst in the background paying down the debt from the Snaitech acquisition so our sp can start to move up again, reflecting our increased revenues.
Wouldn't be surprised if some long term ii wants out, motivated by political correctness and the market knows this, every time we get a slight bounce up to 440p it fades away and a retrace back to 400p.
Fundamentals strong, financially sound after last years Snaitech acquisition, with revenues increasing, Leverage debt/EBITDA 1.22, so well under control.
Can't see much downside buying at these levels at p/e 11.5,
US starting to open up so opportunities for future growth over there, and the brokers recommend PTEC as a buy for what its worth.
Being shorted,loads of very small sells.
no need - just gone in today.
Which broker are you with?
Yes, mine was paid into my account on the 31st May, so don't know why you guys haven't received yours, but I don't think the problem is with PTEC.
My broker says their trustee has yet to receive payment from PTEC
Has anyone had div payment,thought it was being paid on 31st May.
Anybody not received their divi?
Slipped that notification in at the end of the days trading, under the radar of many.
Playtech Long Term Incentive Plan 2012, Uri Levy, Vice-President of Business Development, exercised options over, and subsequently sold, 26,391 ordinary shares in the Company.
These guys should try doing the opposite, buying while the sp is low and show some belief in the company, if they are selling why should pi's buy?
Completely the wrong message or perhaps the right message PTEC are treading water and the execs are happy to pick up their salary, free shares, and flog them when they can, hardly been overwhelmed with heavy director buys, in my opinion necessity buys to keep the acquisition of not buying shares at bay.
Playtech has announced a new link-up with sports betting operator Retabet, as it seeks to deepen its roots across Europe.
As a result of the partnership with the Spain centric organisation, Playtech is to offer an exclusive casino platform, alongside its live casino suite, to Retabet customers.
Playtech has hit the headlines after shareholders revolted against the pay packages of its executives at its annual meeting.
Alan Jackson, chairman, was humiliated by a major vote against his re-election, despite the fact that the company only last month announced that it had started the search for his replacement.
Over 40 per cent of shareholders voted against the company’s pay package policy and its report.
The company had already reported that its adjusted EBITDA for 2019 is forecast to be between €390 and €415m.
Slowing growth in Asia and the grey markets have been affecting profits, to the growing dissatisfaction of its investors.
Pleased to see shareholders have let the board know what they think about excessive pay increases when the sp tanks, they should be aligned with shareholders rather than insulated, if the sp falls significantly they should also feel the chilled wind of vastly decreased pay packet.
What on earth do ii do? they seem to stand by, have no opinion on excessive pay and by doing so sanction whatever is proposed by their inaction.
They for me they are the main reason why executive pay is unchecked in most companies they are there to give an opinion and sway company decisions if they feel they are misguided, after all they own the majority of the company.