The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hi Volcano - have had my finger over the buy button here this morning - same over on fxpo, have held off atm.
As Tav says that was a kitchen sink rns. Relatively positive on the 33p div going forward though with 257m shares that's circa 85m pa. to cover. Personally i'm not looking at the div here - more looking to swing trade, in and out for 5 - 10%, i'm going to sit on hands and see the direction of travel today. would love to get in a bit lower, but accept i may miss out if it recovers quickly.
With the election gearing up, there will be lots of mud slinging, by our politicians giving lots of trading opportunities over the coming weeks. Think markets will remain nervous and volatile.
Every day seems to bring more and more opportunities, with good companies being kicked about. It's like being a kid in a sweet shop, what to choose, lol.
G
Volcano, I 100% agree - bought some more at 373 with gritted teeth!
Jerry there is your chance again , i didn't see that coming
new ceo has done a typical kitchen sink job and issued a profit warning disguised as jam tomorrow. Hopefully the divi will underpin sp but I would rather the old management were here.
Hi Volcano - yes I had a little nibble this time at £3.60 but bailed when it broke through £4.00, I only held for a few days earlier this month, With hindsight wish I'd held for the longer term.
I may not get another chance here, I'm slightly disappointed in myself in truth.
CRST will deffo remain on my watchlist.
GLA
G
All those who have stuck with Crest this year can give themslves a big slap on the back .I have chosen one of Crest's schemes in Coleshill W Midlands , average price right slap back in the centre of the UK as my housing bellwether to follow the progress of sales at the door
Times A Changing ?
This weekend they had an event where they were actively promoting part exchange
"JOIN US ON SATURDAY 20TH AND SUNDAY 21ST OCTOBER FOR OUR PART EXCHANGE EVENT! FIND OUT HOW YOU CAN SWAP YOUR OLD HOUSE FOR A NEW HOME AT CHURCH HILL PLACE | CALL US TODAY TO RSVP!"
is up £1 since august. nice. Jerry i hope you bought in mate.
no deal odds have dropped considerably which is why our sector has risen. Currently no deal trading at 12% on betting sites which probably overstates the risk.
That said our 15% sector rise on the drop of risk for no deal is not the rise we would get if a clear pathway suddenly opened up to no brexit at all such as the deal being subject to referendum. It is within the gift of the opposition parties to achieve this if they could only work together.
IN spite of the rise I am still not in any cash. I think it can go further even though the sector is starting to outrun the very political broker guidance. McDonald trying to grab control of the frozen party machinery to allow this agility. I wish him good luck.
Corbyn and his advisors are obstacles to any sensible outcome. A Labour Brexit would be a electoral disaster for Labour and any referendum between a labour brexit and no brexit would be considered a sham by 30% or so of the population and thus not resolve the issue and give the nation much needed stability.
A referendum between a pretty hard Canada minus Boris Brexit and remain is a real and radical choice for the nation. Plenty of blue water between the two options. Farange might claim any orderly Brexit is a sham but he would not have much traction on that line. Just look like the wrecker he is.
That would be a real choice for the nation and those who want a full Brexit would need to campaign and vote for it. Even a strong remainer like me would feel comfortable with a Boris Brexit if he won such a vote. I don't agree with everything the nation votes for (I was never a Thatcher supporter) but it is still my nation. I feel that the nation did not vote for a Canada minus Brexit in 2016. They were promised an unavailable Unicorn Brexit.
A real Brexit option needs to be publically tested to be sustainable. Anything else will lead to endless debate, uncertainty and even reversal.
Sterling surged on Friday to a three-month high amid investor optimism about a last-minute Brexit deal between Britain and the European Union.
Against the dollar the pound rose 1.9% to $1.2682, and against the euro was up 1.67% at €1.1489.
The currency has rallied more than 3% since Thursday, its biggest two-day gain since before the June 2016 referendum on leaving the EU.
Many UK-focused shares also surged, with Royal Bank of Scotland up 11.6%.
On Friday, EU Brexit negotiator Michel Barnier said he had had a "constructive" meeting with UK Brexit secretary, Stephen Barclay. That followed talks between the Irish and British prime ministers on Thursday, after which a joint statement spoke of "a pathway to a possible deal".
Housebuilders Climb Amid Brexit Deal Hopes
Just offloaded a tranch and took the Divis as well..
Limit buy order set for this afternoon
Lol, we are some way from a Brexit deal! Plus the pound has been around this level in the recent past and the P/E and yield haven't changed overnight, so still no insight on why there is currently a 7% rise today.
British pounds is higher this morning and that helps banks and house builders ,
Crest Nicholson Holdings has a P/E ratio of 6.94, based on the last twelve months. That is equivalent to an earnings yield of about 14.4%.
BREXIT DEAL?
I've been looking around trying to find any news that has boosted the SP today. Can't find anything yet, but the rise seems solid on reasonable volume. Anyone heard anything?
Article on leasehold scandal..
https://www.bbc.co.uk/news/business-49935283
Liberum Capital Reiterates “Buy” Rating for Crest Nicholson (LON:CRST)
(cont)
i.e. cut the dividend. And there is the uncertainty of how the new CEO may want to reposition things in his first set of results at the end of the FY.
Good to see some familiar posters (aka TEF refugees) over here. By way of background I've been in CRST for most of the last 6 years (out briefly in 2017) and have had some success playing the market timing game on CRST and also swapped between CRST and TEF. I normally post on ADVFN but there's not a lot of reasoned debate over there. I am reading but not yet posting on the LSE BWY board, where I see other TEF posters are squatting.
In terms of the dividend outlook, they reaffirmed the 33p guidance for FY19 with the 1H results (June), with the caveat that there was no material deterioration in then-current market conditions. But at this level they are above their desired 2x cover (they moved from 3x cover to 2x cover between FY13 and FY17), as they were for FY18, so perhaps a question on sustainability there. They also have a new CEO starting in a couple of weeks time who could choose to reset the dividend policy as part of any kitchen-sinking exercise he feels he would like to carry out.
But under Stephen Stone and Chris Tinker they have "paused growth" and are generating cash / de-risking from an increased level of JV and pre-sales ("intermediate" sales), so cashflow should hold up (have guided to moving to net cash at end-FY).
So it seems to me they are positioning to be able to maintain the dividend, albeit with reduced cover, for a period of time while waiting for an upturn in profit. But if that upturn doesn't come, then at some point they may feel it more prudent to move back to 2x cover (I
Trying to get a current picture at the gate for housebuilders . Crest in the W Midlands is a good yardstick as any.They arrived into the region a little late in the party and what is particuarly interesting is how they will fare on the sites acquired from Inland who were leaving happy to take a quick land profit
Partex's and various incentives being offered so whether this will be gathering momentum is anyone's guess .Good luck all
Feeling bearish so keeping my powder dry for the time being and trying not to be dazzled by the yields
yes especially i topped up at 335p ,
so nice to see you posting again Steph.most of the tef refugees now seem to use the Bellway board so hope you will join us as I always find your contributions invaluable
Welcome to Crest board. I (we) am a refugee from Telford.
Different business model to TEF but enough there to attract over 80% of my ISA holding for now. If divi holds these are very cheap and as Rapper mentions even without sp rises the result, with 100% reinvestment and compounding, means our holdings double in value every 7 years or so.
Seen this sp go up and down a bit since I bought (currently down). Hoping to see 500 plus as soon as Brexit mess clarified.