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Yes, trading update Tuesday as per DLG investor relations financial calendar.
This should include an update about the sale of NIG
Steve, while its obviously your call, I think having an objective of selling in the 120s is incredibly pessimistic given the direction of travel.
I had previously expected the sp to be close to 150 by year end but with recent macro events the target for me is in the 120 to 130 range.
Christmas on the horizon should be a good driver for further improvement to company performance
With div return next year this has good scope for being a strong income and growth share
Agreed Wiscos.
I thought I had done well topping up at 94p recently and am amazed this has dropped to 90p.
In the mid to long term this SP will be viewed as an absolute bargain and once we have the dividend reinstated (around or just after july?) this SP will be a distant memory.
In FY 20 they paid a 9p div according to AJ Bell website and even if they kicked off the new dividend at half that rate, this would put the share on the radar of many income investors who currently are happy to sit on the sidelines.
IMHO
Oops, meant €500m Eurobond not £500m
EZJ moved from £670m net debt last year to £40m net cash as per today anouncement.
They are also paying off a further £500m Eurobond this month from the cash they are generating.
Also likely that there will be a further reduction in debt, plus (fingers crossed) mention of dividend resumption.
I would normally agree SUF but Carltt constant drivel is so disruptive I've just filtered him .
Boy that has cleaned up the chat!
Agreed Trendz.
There are a lot including myself that expected more positive news about dividend reinstatement which was obviously baked in to the pre-release SP, so when this did not materialise it triggered the drop.
3.8m shares traded today vs the 3 mth avg of 949k so 4 x the normal daily volume!
At the current SP this has got to be a buy for long term hold, and I will be topping up for sure!.
Based on current FTSE350 constituents CARD will need an SP in the 120p to 130p range which doesn't look too far off now.
All eyes on Q2 res announcement 27th Sept, and if that includes a timetable for reinstatement of dividend this will re-rate IMHO.
It could be a range of things but this share is currently way undervalued, plus there is only 1 month to trading update, results are expected to be good, debt could be almost cleared which could pave the way for reinstatement of dividend.
If the dividend comes back that would cause a big re-rate in SP.
Good to see the continuing recovery, and all the while we are heading closer to the next trading update on 12th October.
If the EZY update shows the high passenger numbers through the peak summer system have fed through to the bottom line, and debt has been further reduced, this could fly! (sorry, couldn't resist that).
As soon as restoration of dividend is confirmed this will significantly re-rate.
I expect that news to be delivered at that Q2 res on 27th September, for divs to recommence in Q1 next year.
My initial SP target for 2023 year end is 150p
After this great update attention will inevitably turn to the Q2 Res which are due 27th September.
With the current growth and profitability of the business it is a given that the previous net debt of £57.2m will have reduced further, and probably significantly.
Although recommencement of dividends cannot take place under the terms of the current loan agreements, the final maturity of the tranche A loan is 31st Jan 2024 which removes the last obstacle to dividend resumption.
Therefore I expect the Q2 res to make forward statements about the resumption of dividends that should give further impetus to the re-rating of this undervalued share.
Tom,
NAV in recent accounts was 98p, much of that value being freehold value of their owned sites.
I am not normally a fan of buybacks but I tend to agree with Zac that it may be a good option with LGEN atm.
If the next results show the dividend is well supported and that there is additional cash able to be distributed I would support buybacks at this low SP.
Absolutely crazy drop that I can only assume is because they got caught up in the general market drop today.
To me this looks significantly undervalued and I just bought more.
If the SP stays at these levels for long I will liquidate some other shares for a further top-up here.
This is now >5.5% yield with good prospects for capital gain so is a strong buy from my point of view!
Isn't that a strange rationale for Cevian to completely exit?
I would have though that having an investment in a company whose performance and future outlook was "not reflected" in the current SP was a good investment!
Just raided the piggy bank and bought a few more at 502.6.
After recent results and forward outlook I couldn't resist!
What do you base that on Jeremy?
No mention of dividend payments in todays RNS!
Do any ID docs or proof of shareholding need to be presented to gain entry to the AGM?