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Plenty of in-house buying these past few weeks. Always a positive sign.
Looks decent value
Panmure starts Redde Northgate with 'buy' - price target 500 pence
https://www.lse.co.uk/news/REDD/london-broker-ratings-panmure-likes-redde-northgate-davy-ups-moonpig-8a38vhg70ip4w6p.html
Parallel lines on the chart, indicate a sp, target of 460. However, there are major preceding top formations at 440, which could impede progress to the target. Bollinger bands are separating, which indicates a fast movement.
Sneezes and we get a cold -- old saying
Nice share price recovery from recent lows of around £3 and decent set of results. Major metrics Revenue, profit, EPS, FCF, margins all moving in right direct. Share buy back still in place decent 4 1/2% yield. Would have liked to see debt reduced but can't have everything.
Good update. At 300p it yields 7%. Happy with that.
? indeed. It seems to be due in large part to the fools at Simply Wall Street sticking the knife in with four 'We thinks' in the last two months. Goes to show that 'We (SWS) don't actually know'.
To my mind, if there is nervousness about the economy, then companies will be reluctant to buy vehicles, hold onto capital and prefer to lease which will be good for Redde.
£0.15 dividend plus £0.10 market being in sell-off mode today, so without ex-div we'd be down 3% ish, starting to look cheap to me, but so are a few others
Big drop though
Thanks
Ex-Div
Why the drop today?
Yes, I am of the opinion that there is a good way to go yet here - the buy back and hopefully the end of hostilities.
But of course the hostilities may in fact be helping REDD, both in terms of the rates charged out on their vehicles and perhaps to an extent the reduced availability of vehicles elsewhere because of the shortage of chips and other parts in the manufacture of vehicles. One reason why the values of second hand cars has risen.
The 30M share buyback should help boost the share price as well.
"... the Board now expects full year underlying profit before tax for the year ended 30 April 2022 to be in the region of £150m, comfortably ahead of consensus[1] of £133.9m. The Board expects disposal profits to account for c.33% of the full year underlying profit before tax compared to c.43% in the prior year."
Totally agree -- not at any stage where it should effect REDD - and unlikely it will - hold or buy seems good at this price - however when conflict is over - which i guess and hope will be soon - things will get back to some sort of normal - whatever the outcome in Ukraine - just hope not too many greaving for the lost of their sons/husbands on either side.
...unlikely to impact the van hire business, unless they need transport to evacuate the civilians? PER = 8; PEG = 0.7; yield 5.5%; price to book = 1; EPS growth estimate = 14%. seems quite cheap after the 5% fall today.
hold 5k
cheap on 2022 pe or ev/ebit rel to FTSE350
decent prospects/markets; flexible balance sheet (can alter car buys/sells to adj fcf), cheaply debt financed; experienced management
Glad my opinions posted here in July and August came to pass. I joined when it was still Redde and didn't pay very much.
My view is that covid has helped here because many businesses 'mothballed' and reduced plant and vehicles (owned and leased) but now they are wanting to get back trading again quickly and leasing vehicles is a good way of doing that. Plus there are more savings to be made following the merger of these two companies.
Speculation has been up to £6 and certainly I believe REDD will continue to buck the trend. If so then REDD may not then be the ripe target that it currently is. For some while now, most UK companies have been viewed as cheap by foreign predators and we will see a few more go during 2022.
Hold what you got and add where you can has been my policy here. 1N
Many years ago this share was at £12/13!!
A good solid set of results, backing up what has been said previously, with a little more on top as a positive. I hope not, but I believe this company is a prime target for a bidder. I think it's worth at least £5 today. A bidder might be willing to to pay £6/£7. I hope not though as I would like to continue to own. What's not to like. Great potential for dividend growth as well. Feel very fortunate to have bought this in the low £2's in 2020.
Pretty much at all time highs now, perhaps forming a base for the next leg up. I am happy to continue to hold my stake here, particularly as the rumours around a takeover persist.
All looks OK. Barclays have slightly upped their target to 516.
I am annoyed that they have only made their results presentation open to sell side analysts. A lot more companies have now moved to a more open presentation format making these also available to retail investors, but some including Redde still seem to be opposed to this. The Q&A's are often more informative than the presentation itself .