Member Info for mathsprof

I like the way the independent finishes the article. Clearly a buy recommendation! Pendragon also reported a surge in sales of white cars. "It's one of the top five colours for new car buyers," said Trevor Finn, the chief executive of Pendragon, yesterday. "Every 10 or 15 years there's a cycle where white cars become very fashionable, and we're now in it."

Probably just a delayed reaction to the results. Bound to be some profit taking yesterday after the recent rise.

Just noticed annual report now on PDG website.

Thanks. I'd always wondered why a diluted EPS was quoted in annual reports - the options/warrants could in future be exercised, and thus reduce EPS. I would have thought that profits for current year of £40m was a bit high, but I'm happy to wait for a bit to see how things progress. GLA.

Is this what you're after? On p32 footnote 3 the number of shares and options are listed - 30.1m dilutive, and 57.3m non-dilutive. Do you think this includes warrants? I don't understand the reasoning behind weighting the number of shares over the year. The fact is that there are now 1420m shares in issue, all equally relevant to the EPS. Makes the figures appear better than they are.

Yes, I was just musing on why the SP was not higher at the moment. I agree eps should go up with reduced finance costs, and a dividend would certainly make the shares more attractive. 16p in 12 months time is quite a realistic target, I feel.

The eps also appears flattered by the fact it is worked out on a weighted share basis of 1085m over the year. (That's how I interpret footnote 3 to the report.) There are now 1419m shares in issue. Worked out over the new number would give an eps of around 1.8p rather than 2.3p. So the current p/e ratio on that basis is about 7.2, and earnings not expected to change much in the current year gives a forecast p/e of 7.2 Lookers and Inchape have higher p/e, but then they don't have a big pile of debt. I still think there's some more value to be realised here - but not much.

Why have you posted last year's results?

I am encouraged by the year results - better than forecasts. The tone is positive (of course) and I would expect to see a further rise in SP. 13p now good value - but it could easily open higher! My target for the SP is now 16p.

Welcome! The colour of the transaction on a site such of this is only a guide to whether its a buy or sell. Its often incorrect, especially when the true spread is much less than the advertised spread. So I bet there's been some selling today - especially from those who got in sub 8p, and don't want to risk bad results. Will the results be good or bad? Its difficult to tell, but the only thing that worries me is that analysts in their wisdom are forecasting worse profits next year. I think the current level is a fair price for today - but maybe after tomorrow the re-rating will continue.

No RNS needed. Not a 50% rise today!!! But wait for results in 11 days. That may explain all.

Hope you looked at SUMM before today. Motoring along nicely now -almost 50% rise today.

I didn't think you were! I can't see much more upside now before the results, maybe we'll reach 12.5p or 13p which, imho, without new information, is a fair price for the future. So for me its hold - wait and see, and perhaps reduce at the end of the week.

Yes, but the upward movement, although now over 50% since the new year, has been gradual rather than sudden. Simple reason - lots of buying - maybe someone other than Odey is acquiring a stake, but I we've finally thrown off the shackles of the RI and its overhang.

We got one yesterday corfirming Odey holds 27+%. What else are you looking for?

Odey are not a short term holder. As we discussed in October they had a big holding before the RI. I suspect they are a value investor rather than one involved in a potential bid. Even now 10.75p is a give-away price.

My two tips for 2012 that haven't doubled yet (JJB has) are SUMM and VRP. Both have real potential, and are worth watching and finding out about if you like the risks of bios. I think your 12p wish here may come a bit sooner than I was expecting. GL

Results are expected on 21 February. Worth holding until at least then, unless we reach 15p before!

p/e Inch 9.3 p/e lookers 7.3 p/e pdg 4.1 It doesn't make sense. p/e here should be at least 6. Forward p/e for dec12 is only 4.8 too - (2011 profits expected to be higher than 2012). Forward p/e of 6 would give a SP of 11.16p. Very possible in short term, I believe.

Nice rise today. I expect we will have started to look forward to the year end results. Still seriously undervalued imho.