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cheeky limit buy @£1.30 lol ...reckon expectations may come down towards eps of 12-15p with continuing weakness in their markets
8p of the fall is the dividend but let's see if we get 180p?
I sold at 213..made a decent profit.......will buy in again if it goes down to the low 190's.....KAZ.....was a real headache for me Today...cost me 10 times the amount I gained on here in one Day.....but only as a paper loss...
Hi Jolly :-) Yup, well thought through...Blackrock just disclosed that they are above 0.50% (shorting) today... VBR, as ever
perhaps shorters covering? ...I am also interested 150-180
" Fenner Plc, a maker of conveyor belts and polymer products, said it expected the steep fall in oil prices and weak commodity prices to curb demand for its products, hurting its full-year earnings. The company expects full-year earnings to be slightly below its previous guidance." Panmure Gordon said it expected Fenner's earnings per share to fall by at least 28 percent in the current year, while anticipating a 40 percent cut in dividend. The shares hit 181p this morning but have since recovered. I had a limit order in for 150p! 'Think I'll pass on buying any for now but keep it on my watch list
Hi getrichslow, Gonna' be an interesting & maybe also crucial week ahead... The Interim Management Statement (IMS) will be released this Wednesday (14th) at the AGM. Today she was "upgraded" from a sell (at 260p target) to a hold (at 200p target) by Investec Securities. Last week she was retained as a hold at 201p by N + 1 Singer. Nb: She goes Ex-Divi' on Thursday the 29th but that has already been announced/guaranteed at 8p.
Thanks BlueDealer, I actually bought at 331 and sold at 349 in May, so it just seemed sense to buy at these low prices...especially with the divi.....GL to you too..
Well played getrichslow, I have been watching FENR & was wondering how low she will go as the ex-divi' date is soon & as you say a quite attractive one at 8p. 'Looks like you may well have timed this to perfection Best regards, Blue
in two tranches at 191 and 196.....good dividend to this share 8p...works out at about 4%...which is quite good.
in this share, just seems to keep falling, but it as done well in the past......long term hold ?
UBS downgrade
This seems to have collapsed on no new news, any ideas?
16-Jul-14 - FinnCap Hold 330.00 215.00 16-Jul-14 - Investec Sell 320.00 300.00
Growth Last F'cast REV -1.20% -8.10% PBT -23.40% -0.60% EPS -16.60% -22.00% Valuatn Last F'cast P/E 11.9 15.2 PEG -0.7 -0.7
Gap at 322p might fill
Fenner: UBS reduces target price from 480p to 420p, while its buy recommendation is kept. Espirito Santo cuts target price from 400p to 337p retaining its neutral rating.
Had a small dabble...nice little profit at the moment..
Investec has lowered its target for Fenner from 380p to 375p and maintained a 'sell' recommendation, saying that the company took a "cautious" tone in its second-quarter update. "We consider that the valuation is still too rich for a low-teens margin business with rising net debt and a recent history of downgrades, and a 5p cut to our […] target does not change our 'sell' stance."
15 Jan 2014 Fenner PLC FENR Finncap Buy 455.20 455.20 532.00 532.00 Reiterates SP TARGET 532p
Following a successful end to its financial year, Fenner anticipates that its financial results for the year ended 31 August 2013 will be in line with expectations. The Group's balance sheet remains strong. Net debt at 31 August 2013 was better than expected at approximately £125m, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements. Trading conditions across the Group have remained broadly unchanged since the interim management statement on 18 July 2013, and the Group continues to anticipate a return to growth in its 2013/4 financial year. The Group expects to release its results for the full year on 13 November 2013. ( 10 September 2013 )
Nice tip in the Sunday Times today, points out broker targets over £4, but that future revenues are guaranteed with maintenance contacts
...NORGES BANK have upped their holing in FENNER from 3.06% to over 4%. They bought a slice of afren a few weeks ago too.
Due for a big bounce in my opinion.