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Definitely
The yield is now close on 6% and from a Technical Analysis perspective its way oversold on multiple indicators
Lets not forget this is a no debt company, making decent a profit (operating margin is 31%!) , that's sat on 33% of its market cap in free cash flow!
Sellers drying up on the SETS order book
Close on the lowest price for 3 years
Just bought some for the SIPP even though im already overweight in my DMA account
Still top rated Super Stock on Stockopedia
@denfos
You’re on to a looser here. Wouldn’t pay anymore than £1 a share. Shouldn’t be too long.
Jimbo is this the other downgrade?
CMC Markets Plc : Peel Hunt cuts target price to 355p from 462p
So downgraded to DOUBLE the current share price?
Thanks for dropping the SP, good entry at 180, undervalued, profitable business, target 240, two months.
180p is a p/e of 7.2 - IGG available at 6. No reason to get involved above 150p.
AceofClubs
Also, surely a forecast £60m profit on £280m worst case op income is excellent. Keep the LT view, Lord Cruddas has too much to lose here to be doing the wrong thing. Singapore App starting soon, etc.
Karlo90, if Covid is what is needed to get this up to 300p + again, then bring it on.. ..!!
‘Market volatility is vey light’. Really?
pre covid this traded sub 100p a lot as well. Hope for covid again if you are long!
can't see a quick recovery here after IGG bad statement the other week. Market vol is very light as well which is terrible for business. This could easily drift towards 100p and if regulators rear their heads then even 50p long term low. Dangerous hold either way.
Jimbo deffo short, lets be clear
CMC Markets Plc : RBC cuts target price to 310p from 350p
Whats the other?
Agreed. I'm adding at this level.
That’s the time to buy!
Two broker downgrades this morning
Because costs have risen profits will be down twenty percent so so drop looks justified but I will be adding.
Added at 189, great divi now. Be back to 250 sometime during the year.
So income down less than 1% & SP drops 21%.
I know the market is still jittery but those figures still don't add up.
Alliance News says its all
"As a result, CMC forecast financial year 2023 net operating income between GBP280 million and GBP290 million, with operating costs expected to be in the range of GBP215 million and GBP220 million.
In the year to March 31, 2022, CMC reported net operating income of GBP281.9 million, so at worst, it forecasts a 0.7% decline.
Shares in the company closed 21% lower at 184.20 pence each in London on Monday."
Wouldnt be surprised to see a large director buy or even an offer now (I know the Cruddas's holds 62%)
Cant help but think there's an ulterior motive
Will also be interesting to see what Tellworth do. I cant see them sitting still. Will they increase or close out?
Quite pathetic dropping this 21% It does seem like a fix sometimes! Have to wait and see how many shorts increased last week. Makes it hard to be a LTH
Usual OTT over reaction. Glad i'm in no hurry. GLA
Yes, it does seem odd. March volatility should have meant higher volumes too.
I've know them drop intraday bombshells before, it was some years ago but it did happen.