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They did not own the store.It was bought from Standard Life Investments Long Lease Fund.GLA.
topped up here to hedge something riskier elsewhere: Anything under £2.30 is a giveaway IMO.
BROKER RATINGS: upgrades from two brokers
CREDIT SUISSE: RAISES TESCO PRICE TARGET TO 283 (280) PENCE "OUTPERFORM"
BARCLAYS: REITERATES TESCO TARGET TO PRICE OF 290p "OVERWEIGHT" .
Dates to keep in mind
20 May 2021: Ex-dividend date
21 May 2021: Record date
11 June 2021: Dividend Reinvestment Plan Election date
2 July 2021: Dividend payable
280p to 290p range will be here soon :)
Are we seeing one of the big funds reducing their holding?
Surely this will rise a little at the start of May, with the two weeks leading to dividends, and then drop when people sell after they've cashed the dividends in. My prediction.
Resistance at 223.. This will start moving back up once the panic seller's across the board move out.
At this level with divi date soon it will find a higher sp in the coming weeks
Great value here with plenty of upside and certainly compared to other supermarkets
might be something to do with pre-empting the corporation tax rises we are going to see?
Beep Bop
Depending on what you do with the proceeds of the sale it can be a positive move.
Indeed Rosewall, always seems to me to be a very short-sighted way of generating cash at the expense of the longer term.
Quite a few stores are on Sale and Lease Back, I dislike selling assets when they are still required.
That a store in Essex has been sold and leased back. Not this again..? It proved disastrous the last time under a certain Mr. Clarke.
Chelwood
Nothing has changed from yesterday other than the sp. Frustrating if you’re watching the movement on a daily basis. As I have posted before, those algo trades are there for a reason. They are not for the benefit of the pi’s unless your investing on the dips.
I was in PETS a couple of years ago and it has since doubled when the sp was allowed to move in a free uncontrolled way.
Afternoon All
I am invested in the Company i slave for,Computacenter.
£26+ when i came in today,now at £25.80.These things happen.
Tesco will climb in time,have faith.As others have said,its a safe dividend.
Brutal drop today yet 28 million bought can we have some of your optimism please Chelwood.
It makes you wonder whether a lot of potential new investors were not aware of the consolidation, and therefore looking at the headline share price never realised that recently the price has been equivalent to pre consolidation prices in the 170's.
I suspect as the sp rises then the posters that are not invested or those that had other expectations will comment less and less.
On any significant rise you will get those posters who are wise after the event and post that they invested at a price below 210.
Chelwood
I agree with you 100%, having to wade through the posts of wailers before one reaches something of interest has become very tedious on this board.
Morning All
Can we start a new week with some support and optimism.Post after post of what could or should will not make any difference.
Did anyone notice that this hasn’t been wholly paid off and still stands at £1 Billion!?
I wouldn’t say the director buys we’re mind blowing.
I guess we will have to wait now to Half year results to see where this is going .
Well I bought a little bit of Argo back (£500) and boy has that gone down the pan !
So Tesco is a great defense but not going to the moon or down the pan in a hurry.
We all pays our money & we take our chances but I have to agree with leas on the debt aspect. Vodafone's debt is around 62 billion euros with a net debt at almost 46 billion. BP's net is 35 billion dollars, Shells is 66 billion dollars, net around 48 billion. My point is none of these are going bust, all will be here in the years ahead & all pay good dividends. If we are looking at financials earnings per share is important with how the dividend is covered also being important for us that hold for the divi's. I hold all these companies & will continue to do so. Good luck Spindler & all posters with your future investments.
Just before I go..and I will. I know you know your stuff and there is some case in your argument. Debt is not wholly bad for a business but in this case i argue it is and wasn;t necessary. To be honest there are some good posters but I noted especially up to the BS SD that this BB has a lot of investors who actually know very little about investing, actually virtually zero. The amount of questions on such basic stuff continually how do i qualify for the dividend etc. And to be fair to them most couldnt get their heads around the consolidation which as it used totally deceptive language re the special dividend is entirely understandable.
I'm not sure if it was you but one poster said months ago that many investors would consider the consolidation as tantamount to theft because they wouldn;t understand one hand gifeth and one hand taketh away. And to be fair even the most inexperienced investor has a point on that.
Anyway toodle pip and by the by no i am not a fan of debt laden companies with no revenue(but i guess you meant profit). The main apple of my eye is debt free but that wasn't part of my decision. The Tui board is an interesting one in denial around their debt and i have massive sympathy for TUI but fundamental are fundamentals even for my favourite holiday company, customer yes, investor no
Guys
if you think debt is bad for business then I suspect you have never had your own businesses, The tax benefits allow them to cover the cost of borrowing particularly at a time of all time lows. If TSCO had paid down debt then they would have really thrown the cash away. That is why they chose to reduce their Pension liabilities.
The Weighted average cost of capital is good with this company, debt is covered very easily from earnings as is their yield. EPS is excellent too.
Apologies if this sounds a little patronising but you don't run a company like you run your household. The numbers at TSCO are good. It is a defensive investment with a good yield with the potential of some capital gain.
What I don't understand is why anyone not invested here would want to waste their energy posting on a bb that by nature usually have experienced private investors. What I post or others natters here does not determine the direction of the share price.
Go on the AIM bb's and influence your fellow investor there. Some of those debt laden companies without revenue need your well intended advice.
Having thought this through short of a correction, I am sure I won't reinvest so good luck all.
Tesco Market Cap circa 17 odd billion (Market Cap does not include debt obligations)
Debt obligations circa 8 billion
Cash on Hand/working capital circa 2.35 billion
So they have debt obligations nearly half the market cap when they could have eradicated it.
That debt will never imo be paid off just continually refinanced/recycled
Net debt 5 3/4 billion but they are servicing 8 billion in debt(and i don't care how cheap it is)
Tesco could have been debt free