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http://www.enterpriseinns.com/Investors/AnnouncementAndAlerts/Documents/2009%20Interim%20Report.PDF Nothing unexpected .... (no dividend) , expected property portfolio rightdowns , resultant marginal profit , debt reduction continuing , confirms that early talks with banks re re-finance in 2011 looks like no problems ... lets see if the market has priced all this in or over cooked the recent increase.
Bit surprised these are stil climbing. maybe too quickly? any thoughts? Just sold enough to get my stake back and might put a sensible stop loss on to protect my profit. J
I jumped in one hour ago at 98.9P... after one hour, it is more than 110P....
Sold out on Friday. Target price is more or less reached and market in general closed higher for sixth straight week. Fundamentals still strong but....
BARCLAYS STARTS ENTERPRISE INNS PLC WITH EQUAL-WEIGHT RATING; PRICE TARGET OF 135P BARCLAYS STARTS PUNCH TAVERNS PLC WITH UNDERWEIGHT RATING; PRICE TARGET OF 100 P Go ETI!
"Pub chain Enterprise Inns said trading has been steady since January despite the bad weather in February, helping lift the shares by 9.25p to 67.75p. Like for like sales for the half-year to March will be below the same period last year due to the trading impact of the Easter holiday, Enterprise said. Trading in January was relatively strong, February was hit by two weeks of bad weather and was one day shorter than last year and March has been steady. "Despite very difficult trading conditions in the first half, the majority of our pubs continue to trade remarkably well," it added though its support for struggling tenants is still running at 1.4 million pounds per month. "There have been some ratings downgrades across the industry recently, affecting both the securitised bonds and the corporate bonds. None of the downgrades affecting ETI has implications for the ETI business in terms of covenants or costs to the business," it added. "We believe that an improvement in credit markets is to be expected at some time in the next three years and that as a result Enterprise's chances of succeeding with its refinancing, while not free of risk, are better than the pricing implies," commented broker KBC Peel Hunt." I love these statements - say nothing - what is their profit or lack of!?
Hi, sold out today at 57.0, think i did the right thing. As you rightly say mid 40s makes this a good short term buy. GL
As we all know, this stock recently fell to a ten-year low. Though there are debt financing issue for 2011, I bought into Enterprise Inns a month or so ago at 42, and sold out two weeks later at 55. On Monday this week it had returned to 42 – by Thursday this week it had made the reverse trip back to 58.75, yet ended the week just below 50 again There seems to be two schools of thought here, and as with many companies facing debt refinancing, it revolves around ‘survival’. I wouldn’t short this one – and will watch for another opportunity to buy back in – if it returns to the low/mid 40’s. The volatility here certainly makes this a stock worth watching – in the past the bankers for ETI have been very supportive. I think that in the low/mid 40’s the upside justifies the risk of loss. Further comment regarding this stock and the strategies I adopt to trade can be found on my blog:- http://www.successfulspreadtrading.blogspot.com/
that is done well. about time. Maybe another 30% tomorrow?
it is going up again
any chance for 30%today?
im doing alot of flooring work for these at the minute, really seem to be spending money on improvements!!!! dosnt seem like a company struggling
Wait for 32-37 p then what ? --------- wait for what? ---- further fall or massive rise in price? When this recession is over in the next 6 mths or so and stock market goes back to 6000 plus -- what sort of price do you recon these shares could be? Forever the optomist :D
66p by july 09
RBS: 60-65p H BOS: 100-105p ITV: 40p Eeterprise inns (ETI): 100-110p BT: 145p VER: 6.5p
I've been watching the SP of this for some while. They have been hammered by the prospect of lower beer sales / competition from cheap beer sales in supermarkets / very high debt levels etc... However, the sp is now so low, it might perhaps be worth considering an investment? My concern is how close they might be to breaching any banking covenants. Views anyone?