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good entry by late oct
very tempting , only 45 mins till close hmmm.
today but f s a have to be a little more diplomatic in the investigation cos westminsters not favourable to more job losses at hsv uk
so a rough 20% profit in 6mths = a good mid term investment at present level
http://www.hl.co.uk/shares/stock-market-news/company--news/homeserve-to-face-fsa-probe But profits up :-)
thought i would buy in a few at this price. As panthro555 said, i cant see a good enough reason for the drop so hopefully will pick up some profit as it normalises
horrible drop today - stop losses kicked in. Don't see anything major enough in the news to have done that!
Panmure Gordon thinks the key issues in the results statement will be: an update on UK telesales; growth in North America; the impact of Eurozone uncertainty. "Management has been working hard to rebuild confidence but uncertainty still exists. Ongoing dialogue with the FSA leaves the door open for a full investigation, and therefore, a potential fine, while the impact of its international growth aspirations is unknown. It has reiterated its desire to maintain a progressive dividend and we believe that yield will be the valuation driver. We target a 6% yield, implying 190p target price, so stay cautious," Panmure Gordon said.
HomeServe, the struggling home emergency insurance and repairs group, has already revealed that full year figures will be in line with market expectations, albeit those market expectations have lowered as a result of the company's travails with the Financial Services Authority (FSA) this year.
Leader in Emergency Repair Service Plans experiencing tremendous growth- Now serving customers in more than 8,000 cities throughout the United States Read more: http://www.newstimes.com/business/press-releases/article/HomeServe-USA-Reaches-8-000-City-Milestone-3461628.php#ixzz1rICwlN4N
Stella David, a non-executive director of Homeserve, the emergency repair group, has stocked up on shares in the firm with a £44,255 purchase. David, who joined the board in November 2010, bought 17,688 at 250.20p each, less than a week after the firm announced 200 job cuts. Despite the cuts, the firm assured investors that its full-year profits will be in line with expectations even though its recent travails are still preventing the group from restarting some marketing operations.
Homeserve (HSV) expects to see an 8% decline in the total number of UK customers in the 2012 financial year, 3 basis point more than previously expected, and forecasts renewal revenues in 2013 to fall by 10 million pounds. No doubt, many customers are uncomfortable using an insurance firm caught mis-selling policies. To compensate, the group said that it will cut 200 jobs, which together with further reorganisation costs will cost around 20 million pounds. The shares dropped 34.9p to 240.1p.
Rockhard pleased you have a similar sentiment with HSV. This has been a bit of a stock market darling and I think this hiccup will be something which makes this a stronger share.
i dont think they will go back to 2s today
2 squid = lousy call.
up = 70p or 26% rise= maybe 3£ will b a hard nut to crack.
Who at PG set a taget price of 190p? I seriously doubt they have researched this, the market has clearly taken into account a massive over reaction on the "scandal" news and is now starting to correct it. Pretty sure HSV management will be aiming to correct this too as they will get pressure from the market and institutions. Surely these are one to hold on to. Esp as the recession offers cheap deals overseas and everyone looks for new income streams whic HSVs proven business model does. Cant think HSV will allow this cluste*&rfck to happen again.
selling for 32% more. mmm
LOL......At least the Missus will probably make a few quid over the next 5 years.....My dalliance into AIM has been less successful....ATB
SMFC - Aye you cant complain much at that!
Homeserve’s shares nudged higher on Friday after the proposed acquisition of Doméo SA, but brokers have maintained their sell ratings on the stock as sentiment is still being dampened by problems arising from the mis-selling scandal. “The share price has settled down and stabilised after the recent H1 results and UK telesales issues. While this is a sensible strategic deal, we remain concerned about the reputational impact to the group through what has happened in the UK,” Panmure Gordon said. The broker maintained its 190p target price.
for the Missus to take out the latest sharesave option......Think thats worth a few quid of anyones money......GLA
Panmure Gordon maintained its "sell" recommendation for Homeserve (HSV), with a 190p target price. The embarrassed insurance company has been fined 85,000 dollars (54,414 pounds) for "deceptive marketing" in the US and the broker believes that the group is struggling to adjust its strategies for different regions. Additionally, Panmure expects the miss selling issues in the UK to weigh down the price for some time. Homeserve shares rose 8.4p to 248.9p.
Homeserve: UBS slashes target from 400p to 300p, buy rating unchanged.
Surely the story here is in the overseas growth - the mis-selling "scandal" as the media like to call it is a storm in a tea cup which is being addressed by a change in practises. Invesco dont seem too fussed by it who keep topping up with this stock the keep crossing percentage points. I'm no expert but when experts do have over 20% stake it makes me think they know somethiung I do not. Increased revenue profits and dividend in a market like this surely would keep price stable. I think this is artificially being depressed to flush out sellers and attract bargain hunting investors. I'm keeping mine now I've topped up too