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Can’t wait for an update on first half year’s trading
It’ll be pivotal in terms of SP reaction I believe as any profit without exceptional should make it obvious how lowly rated this company has become
Once again the ftse 250 dips and recovers. Pfg dips and doesn't recover. The correlation it has to the overall market is disgusting.
Yes Theborn back in the 180s
Wished I had the spherical objects to buy more but I’m in quite deep for what I perceive is a risky share
It's a total turd of a share Barrie.
I'm struggling for any optimism.
They better deliver come the results - market thinks the management team are value destructive based on curent pricing. They better have some actual rabbits to pull out.
Theborn
Couldn’t agree more unfortunate I’ve got 3,000 turds priced closer to gold bars than toadstools currently :-(
Results confirmed for 27 July:
https://www.providentfinancial.com/shareholder-hub/financial-calendar/
The Q1 trading statement was positive / indicated all was in order.
If there was anything to the contrary at the Jul 27 results then I'd say Le May should be given his marching orders.
When he took over in Feb 2018 PFG closed @ 523p. A year later in 2019 the management view of a NSF offer of ~511p a share was that it was not fair value. Today closed PFG @187p.
Le May has had enough time to put the house in order.
Agree - and this whole time being given share rewards as part of the comp.
In fairness, this share in any normal market is an 8-15 PE depending on sentiment. We are at 3.5x,sl so even in a worst case this should be £4+ (which agrees to all the established Broker guidance - Barclays, Shore Cap etc), but its tarred as a piece of turd.
Everyday 250 falls 1% this falls 5% (like today). Any time ftse 250 bounces, this stays flat.
There aren't even any signicnat noted shorts on the stock (although perhaps lots of <5% positions not declared) so even if results are bumper we don't get the added benefit of a short squeeze.
I want / need / price this as £4+ minimum but struggle to see how that 125% increase is achieved in a 6-12 month period.
Surely it would be a takeover target but sadly the entire market is acting with pure paranoia at the moment. I'd buy a near prime loan book and growing business for 75p in the £1 any day (which is where current share price values the assets)
Agree if we don't see a change soon then LeMay needs to step aside.
I'll hold. Would buy more if I could.
Let's wait and hope for sense.
https://www.theguardian.com/business/2022/jul/06/demand-for-debt-services-by-lloyds-customers-jumps-rising-prices-savings
I think this the current economic conditions make for prime territory for PFG, just as long as they can get their **** together the company should do well.
I also noticed PFG have done their classic balls up on making their results announcement date align with a significant macro event that will most likely drag the market down and mean their results get missed (by this I mean Fed likely to hike rates by 1% on same day). They've done this previously.
You'd think if they had half a brain they'd look at thr calendar and either announce a few days before or after these type of events so allows some for share price to correct before or after a major market move.
They never learn.
Theborn
I’m the same
Holding with almost £10K invested well out of the money as shares currently worth £6K but can’t bring myself to add more fur to obvious negative sentiment around share / sector which on fundamentals denies logic
GLA when those long awaited results eventually arrive