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Ramsdens have just signed up to open a branch in Durham Tees Valley airport, they will offer currency at high street prices. They will also sell new and pre-owned jewellery. The airport has recently come into public ownership and is run by Stobart group.
this lunchtime, saying "stellar performance" and Buy @177p. Here's a link:
Https://www.investorschronicle.co.uk/comment/2019/06/14/ramsdens-record-results/
And Liberum reiterate their 248p target.
The current year forecast is for 19p EPS, rising to 21.3p EPS next year.
The cash pile forecast to be £9.6m at the end of this year.
With the cash pile, growth potential from the Money Shop acquisition, a likely better year from fx, the rising gold price, plus solid overall prospects - and defensive qualities in a downturn - imo RFX deserve a higher rating than the present single-figure P/E. Which would justify the 248p target price.
Cant complain about these results........lets hope the share price starts to reflect the results....
https://uk.advfn.com/stock-market/london/ramsdens-RFX/share-news/Ramsdens-Holdings-PLC-Annual-Results-for-the-year/80114644
Good, solid trading update in line with expectations (and that in a poor overall environment). Importantly there's growth in each of the four divisions.
Plus the ICL acquisition is going well, and there's confidence going forward:
Https://uk.advfn.com/stock-market/london/ramsdens-RFX/share-news/Ramsdens-Holdings-PLC-Pre-Close-Trading-Update/79627481
Confirmation that City Financial has left the building:
https://investegate.co.uk/ramsdens-holdings--rfx-/rns/holding-s--in-company/201903081635043662S/
Without the overhang in play, the price should be free to start moving back up.
Huge volume yesterday and if that is the overhang cleared then there could be a good move up from here.
Simon Thompson certainly reckons the shares are a buy with 50% upside:
"I would also flag up that Ramsdens’ balance sheet is cash rich with proforma net funds likely to be around £9.3m post the acquisition, a sum worth 30p a share. This cash pile not only provides ample firepower for the management team to cherry pick further earnings accretive bolt-on purchases, but also means that Ramsdens’ double digit earnings growth is being valued on a cash-adjusted forward price/earnings (PE) ratio of 7.4. Add to that a prospective dividend yield of 4.6 per cent, and I see 50 per cent share price upside, having included the shares in my 2019 Bargain Share Portfolio at just below the current offer price. Buy."
https://www.investorschronicle.co.uk/comment/2019/03/04/bargain-share-portfolio-updates
The money shop.
Can't be bad adding that many shops in one go.
Bolt on earnings.
MIDAS SHARE TIPS: It’s a gem!
https://www.dailymail.co.uk/money/article-6474711/MIDAS-SHARE-TIPS-pawn-shops-sell-jewels-sparkle-shares-portfolio.html
Someone is supremely confident
At sub 150. Looking very good now and a dividend payer to boot. Can see this only firming over the next few sessions.
Just been tipped
https://www.investorschronicle.co.uk/comment/2018/11/28/a-bargain-basement-value-opportunity/
Bought back in. Solid business model. Good results in current climate.
Shares Gone EX-Divi today 4.4p
Looks like Simon Thompson comments have kick started these.
There has been a bout of profit taking at Middlesbrough-based Ramsdens (RFX:158p), a diversified financial services company, after three directors sold 3 per cent of the share capital. However, they still have decent holdings including chief executive Peter Kenyon who retains a 3.5 per cent stake.
To put the valuation into perspective, strip out Ramsdens’ net funds of 41p a share and it is being valued on seven times historic earnings per share. The final payout of 4.4p a share has yet to go ex-dividend, too. Add that to a 7.1p a share likely payout for the current financial year and you can expect a 7.3 per cent return in the next 13 months from dividends alone.
Sterling weakness is worth considering. It has been on the slide since April. That’s good news for Ramsdens’ highly competitive foreign currency arm, which accounts for 40 per cent of gross profit. True, a higher level of UK staycations could dampen demand, but given the customer base’s northern bias, and the fact that the heatwave didn’t really start until mid-June, so well after when most holiday bookings are made, I don’t think this is a major factor. Also, the 4 per cent drop in the sterling gold price since mid-June is hardly going to dampen demand for pawnbroking services, a quarter of gross profits.
So, having suggested buying at 132p ('A jewel in the north', 12 Jun 2017) and remained positive at the annual results ('Ramsdens upgrades yet again', 11 Jun 2018), I see a repeat buying opportunity in the oversold shares. Buy.
This trades ex dividend on 23rd August for the final dividend payment of 4.4p.
Absolutely, it should spook people, my "what's happening" question was why are directors selling huge parts of their holdings.
I think the 3 big director sell off has spooked everyone.
Not good whatever it is. Big sell off
775,000 shares sold by directors/closely related including the CEO selling approx a third of his stake. Any idea what's going on?
Only just had a look last night,very pleased with the progress here,fantastic set of results!!!
Very nice set of results!! Massive hike in divi, net cash up, all segments of business performing. Hoping for a steady climb from here as been a bit disappointed with sp performance recently.
One excellent RNS, and over the moon with the % rise on dividends.
Well it was very cheap and I saw it as a hedge against a market fall as they hold lots of gold,and it pays a dividend unlike a pure gold etc. Good progress here with the company and with the shareprice.
I saw this company tipped as one to watch in 2018? Not something that I would normally consider? Worth it?