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PAG <b>BEATS CONSENSUS Broker Figures easily</b>...... 2014 2015 Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Shore Capital 21-11-14 BUY 122.20 30.50 8.60 142.50 36.10 10.40 Panmure Gordon 21-11-14 BUY 31.20 8.50 35.70 10.00 Peel Hunt LLP 21-11-14 BUY 121.20 30.01 8.20 138.66 34.23 9.50 Westhouse Securities 20-11-14 BUY Canaccord Genuity Ltd 29-10-14 BUY 117.00 29.90 9.00 141.00 35.50 10.50 Numis Securities Ltd 24-07-14 SELL 119.20 30.70 8.76 126.70 32.80 10.10 Espirito Santo Investment Bank Inc 02-04-14 BUY 114.90 28.90 8.40 120.30 30.60 9.50 2014 2015 <b>Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Consensus 120.68 30.28 8.58 140.40 35.30 10.13</b> Fantastic results and lets not forget the consensus figures were revised upwards on the IMS.
Final results. Commenting on the results, Nigel Terrington, Chief Executive of Paragon, said: "The past year has seen considerable progress in the Group's strategic plans and in the performance of its businesses. Paragon Mortgages and Idem Capital have witnessed significantly increased new business and are well positioned for further growth. Significant progress has also been achieved in diversifying further the Group's funding sources. In particular, the formation of Paragon Bank has provided us with the opportunity to diversify further both income streams and funding and we expect it to play an important role in the Group's future plans. The Group benefits from a strong capital position and I am pleased to announce a 25% increase in the dividend, as well as an initial £50 million share buy-back programme, as we seek to complement strong and sustainable growth with improving shareholder returns."
Still a bargain ahead of results next week
Well now, 5 months later. Even more of a bargain @320p.....thinking of buying in as it happens. 380-400p by 2014 year end. GLA
These shares are an absolute bargain at these prices. Excellent growth prospects - should be 500p by end of 2014 !
Latest Broker Views........ Date Company Name Broker Rec. Price Old target price New target price Notes 18 Feb 14 Paragon Group Of... Canaccord Genuity Buy 381.25 420.00 453.00 Reiterates 18 Feb 14 Paragon Group Of... Espirito Santo Execution Noble Buy 381.25 481.00 481.00 Retains 13 Feb 14 Paragon Group Of... Espirito Santo Execution Noble Buy 381.25 424.00 481.00 Retains 03 Feb 14 Paragon Group Of... RBC Capital Markets Outperform 381.25 - - Reiterates 03 Feb 14 Paragon Group Of... Jefferies International Buy 381.25 400.00 420.00 Reiterates 03 Feb 14 Paragon Group Of... JP Morgan Cazenove Overweight 381.25 396.00 396.00 Retains
<b>Paragon Group of Companies PLC PT Raised to GBX 453 at Canaccord Genuity (PAG) Posted by Wayne Rhoads on Feb 18th, 2014</b> Paragon Group of Companies PLC logoAnalysts at Canaccord Genuity upped their price objective on shares of Paragon Group of Companies PLC (LON:PAG) from GBX 420 ($7.04) to GBX 453 ($7.59) in a research report issued to clients and investors on Tuesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price points to a potential upside of 23.30% from the stock’s previous close. PAG has been the subject of a number of other recent research reports. Analysts at Espirito Santo Investment Bank Research reiterated a “buy” rating on shares of Paragon Group of Companies PLC in a research note on Thursday, February 13th. They now have a GBX 481 ($8.06) price target on the stock, up previously from GBX 424 ($7.11). Separately, analysts at UBS AG raised their price target on shares of Paragon Group of Companies PLC from GBX 325 ($5.45) to GBX 350 ($5.87) in a research note on Monday, February 3rd. They now have a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Paragon Group of Companies PLC in a research note on Monday, February 3rd. They now have a GBX 396 ($6.64) price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of GBX 381.17 ($6.39). The Paragon Group of Companies PLC is an United Kingdom-based holding company, engaged in the first mortgage and consumer finance businesses.
PAG PARAGON FUNDIES........ Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Peel Hunt LLP 23-12-13 BUY 110.41 27.34 7.80 118.38 29.23 8.20 Panmure Gordon [R] 23-12-13 BUY 29.70 8.50 33.80 10.00 Shore Capital 20-12-13 BUY 115.80 28.90 8.70 129.50 32.90 10.40 Westhouse Securities 19-12-13 BUY Canaccord Genuity Ltd 11-12-13 BUY 122.00 29.20 8.00 135.00 33.00 9.50 Numis Securities Ltd 27-11-13 SELL 111.90 27.90 8.40 116.60 29.20 9.24 2014 2015 Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p) Consensus 113.95 28.68 8.28 123.88 32.95 9.55 1 Month Change 5.51 0.60 -0.16 5.70 -0.62 -0.45 3 Month Change 4.88 -0.52 -0.16 2.50 -0.51 -0.45 GROWTH 2013 (A) 2014 (E) 2015 (E) Norm. EPS 3.38% -11.49% 14.88% DPS 66.26% 20.01% 15.32% INVESTMENT RATIOS 2013 (A) 2014 (E) 2015 (E) EBITDA £m £125.00m £143.00m EBIT £m £m £m Dividend Yield 1.88% 2.25% 2.60% Dividend Cover 4.70x 3.46x 3.45x PER 11.34x 12.81x 11.15x PEG 3.35f -1.12f 0.75f Net Asset Value PS p 311.20p 334.70p
Brokers have some hefty SP targets on PAG. Date Company Name Broker Rec. Price Old target pric Newtarget price 11 Dec 13 Paragon Group Of... Canaccord Genuity Buy 360.50 420.00 420.00 Retains 10 Dec 13 Paragon Group Of... RBC Capital Markets Outperform 360.50 - - Reiterates 05 Dec 13 Paragon Group Of... Berenberg Buy 360.50 395.00 395.00 Retains 28 Nov 13 Paragon Group Of... Espirito Santo Execution Noble Buy 360.50 393.00 424.00 Retains 01 Nov 13 Paragon Group Of... JP Morgan Cazenove Overweight 360.50 396.00 - Retains N@W Building Society
Breakout at PAG. Long term chart aswel. Financials doing well today, fundys cheap aswel historicaly. http://site-13503151602977610346112554483080.webs.com/pag%20chart%201.jpg
Breakout at PAG. Long term chart aswel. Financials doing well today, fundys cheap aswel historicaly. http://site-13503151602977610346112554483080.webs.com/pag%20chart%201.
Espirito Santo retains buy on Paragon Group of Companies, target raised from 393p to 424p - Broker upgrades are flowing thick & fast at the moment,
Lots of broker upgrades coming through, Cannacord 420 Espinto Santos 390 RBC ( market outperform ) although no target price quoted ). Accompanied by the Governments tougher stance on pay day lenders bodes well for us going forward
nice to see share price on the rise today it shows how many people may be watching this share price as they see the potential here , amerisure also looking good ,will keep watching pag as i see a lot of potential
It seems we are both in ETO and PAG. We must have good taste. GL
offered up late from this afternoon!
By BFN News 03:15 PM Friday 13 September, 2013 ) The Paragon Group of Companies (LON:PAG) has launched its latest securitisation, Paragon Mortgages (No.18) PLC (PM18). The joint lead managers are Lloyds Bank, Macquarie Bank Limited and Morgan Stanley. The final terms of PM18 will be determined following discussions with the joint lead managers and investors. The issue amount is £273.0 million, comprising: · £238.1 million of AAA rated notes at a margin of 115 basis points over three month LIBOR · £15.7 million of AA rated notes at a margin of 170 basis points over three month LIBOR · £13.7 million of A rated notes at a margin of 240 basis points over three month LIBOR · £5.5 million of subordinated notes retained by Paragon · Paragon will also invest £8.19 million in the First Loss Fund, bringing its total investment in PM18 to £13.69 million, or 5.0% of the issue amount This securitisation will support Paragon's on-going new lending programme. A further announcement on the progress of PM18 will be made in due course.
The Paragon Group of Companies, a specialist buy-to-let and consumer finance group, on Wednesday launched an offer of six per cent bonds due December 2020, marking the initial transaction under a one billion pound euro medium term note programme. The fixed interest of 6.0% will be payable semi-annually in arrears on March 5th and September 5th until September 5th 2020. The bonds have a minimum initial subscription amount of 2,000 and are available in multiples of 100 thereafter. Nigel Terrington, Chief Executive of Paragon, said: "The bonds will complement our already strong balance sheet, allow us to diversify our funding base and extend the tenor of our borrowings. "We have operated in the UK markets for over 25 years with a business model that kept us profitable throughout the recent credit crunch. We continue to see strong growth opportunities in the markets in which we operate."
A month later the group announced the renewal of its mortgage warehouse facility with Macquarie Bank's London branch, increasing the facility to �250m from �200m. The facility, rated by Fitch Ratings, will be available until December 2016. The extension and increase in the loan facility brings total warehouse capacity within the group to �450m and will be used to support growth plans in the buy-to-let market. The company was considering the acquisition of Hampshire Trust, a wholly-owned bank subsidiary of National Counties Building Society. Discussions have since terminated but Paragon said it will be exploring other avenues including the establishment of a banking subsidiary in the group. "During the period, the group has made excellent progress, successfully managing the portfolio of originated and acquired assets, seeking further opportunities to expand by acquisition, developing the new lending business, increasing the funding available for buy-to-let mortgage originations and completing a further securitisation," Paragon stated.
The group also made .6m of new buy-to-let loans and 0.5m of further advances. By the end of the period the pipeline of new business amounted to 102.7m. "The credit quality of the new lending business written in the period has remained excellent.," the company said. "Following the increase in funding capacity the group has enlarged and extended its lending activities and we anticipate increased business volumes during the second quarter." Cash generation from the group's portfolios remained strong. Free cash balances came to 154.4m at December 31st, compared with 127.7m at September 30th. In October the company completed, through its subsidiary Paragon Mortgages, a 200m securitisation transaction consisting exclusively of buy-to-let assets.
The Paragon Group of Companies reported Thursday a 16.7 per cent increase in operating profits for the last three months of 2012. The FTSE 250 provider of mortgages and personal loans said its financial performance was in line with management's expectations with operating profits of �23.7m, compared with �20.3m for the same period the previous year. Pre-tax profits, after a charge of �0.2m for fair value hedging items, were �23.5 million for the period. A strong portfolio pushed profits higher during the quarter with credit performance of consumer loans in line with management forecasts.
It would be good to have an update on Hampshire because this could be a game changer. The access to another funding base would be very good. There are a number of money market players who would be able to deal with PAG if it had the deal done.
Moving up nicely.
Broker note out late yesterday afternoon... 23 Jan Paragon Group of... PAG Canaccord Genuity Buy 273.05 270.30 313.00 313.00 Retains 313p SP TARGET.
PAG breakout.......... http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=PAG&Size=700&Skin=BlackBlue&Type=3&Scale=0&Cycle=DAY3&Span=YEAR1&OVER=EMA(12);EMA(25);EMA(50);EMA(200)&IND=VOLMA(60);MTM(6,6);ADX(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat="