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Does anyone seriously expect that full year dividend will be paid ?
Loans to people without capacity, guarantors who are vulnerable, no check on income, no checks on affordability (both borrowers and guarantors).
It doesn't look good.
Even more convinced this will drift a bit lower in the next 6 - 10 weeks.
As said previously, I'm not a trader, and I think money is best left in the market long term, but I won't be rushing to top on these until they are back in the 64 - 69p range, which I just have a gut feeling will happen.
The 'Boris bounce' was well over cooked for domestic stocks, whatever your position on Brexit there is a huge amount or work / uncertainty over the next year.
We are probably close to being in a mild recession - construction still poor. It's going to take months for Government to decide what the do with infrastucture.
Best scenario ? Cancel HS2 and allocate the billions to Northern towns and cities to spend on local projects that deliver much more bang for the buck.
Worst scenario ? Cancel and spunk more money on London projects.
We (Speedy) had a cracking run from August to early January going from 48p to 80p.
Long term (3 years) ?
The business in great shape - the move to services and serving smaller business was the right call.
Relatively little debt, undemanding PE ratio, decent yield, dividend well covered, scope to increase dividend.
The downside ? The board / management are a little over cautious in my view. Organic growth in Hire is **** poor.
It's a competitive market and needs continuous operation excellence and the business used to have history of whacking one into their own goal every so often.
Remains a long term hold / buy / value stock.
my view is that they will drift around the 74p mark for the next 3 months. Wouldn't totally surprise me to see them drift back to high 60's, however I'm a long term holder not a trader. I'd certainly top up if they did.
I don't know why but the shares seem to do well in December drifting lower in the 1st quarter of each calendar year.
The investment boom promised by Boris is priced in - arguably there are few shovel ready projects.
Speedy’s shares experienced some weakness in 2019 with investor jitters centred around the subdued industry backdrop. But momentum in the last three months of the year suggests confidence is returning. While the uncertain political climate persists, the shares saw a 14 per cent ‘Boris bounce’ following the election. But should hire conditions worsen, the group can trim capital expenditure and age its young fleet to boost cash flows. For now, the SME segment continues to hold promise and initiatives such as the Speedy app and same-day delivery guarantee should help increase market share. Meanwhile, expansion into non-cyclical services will underpin further growth. With the shares trading at 12 times forecast 2021 earnings, they are hovering around a 52-week high, but the valuation isn’t overly demanding for the potential on offer. Buy.
Last IC View: Buy, 56p, 15 Nov 2019
Just got a gut feeling that this will tread water under the 75p mark for a while.
Have sold half my holding in this at 73.6p.
A day too late, but think the whole small cap market has got a bit over excited in the aftermath of the election.
A cracking run for those lucky enough (not me) to buy in August 2019.
A lot of hard work politically ahead and won’t be plain sailing.
What a week - smashing through 65p barrier which seemed a block for so long and then cruising through 70p barrier.
Just feel like the accounting **** ups, profit warnings, Carillion mishaps are well in the past and trust in this company is restored.
Lets see if we can get a bit higher by the end of the year before taking any profits. We've waited too long to bail out too quick.
Maybe Walking Toss can post something to help us past 75p
Good luck to you as well Steve.
I'll probably take 1/3 profits in the next fortnight, however I really want to see if the directors can grow the business, particularly organically - alongside some bolt on acquisitions.
Who knows what will happen, but there's got to be an attempt to increase house building & push through some infrastructure spending in the next 3 years so there should be plenty of business to go for.
In my experience of dealing with them they seem operational pretty strong, deliver a good service but just wonder if they are a little cautious as a business and lack a bit of entrepreneurial oomf in their managers.
Never going to be mega exciting, but no reason why share price can't increase by 40% by Dec 2021
What a day for the patient Speedy hire holders.
Could be a good 2020
Brexit hangover gone
Infrastructure investment
Strong balance sheet.
Increased dividend, plenty of scope for more
PE of roughly 12 on this years earnings, scope for a bit of a re-rate.
Good afternoon Maccaroo and good afternoon all speedy followers.{:-))2 years and a month since I topped up on these at 54.9 and I was hoping to exceed 65p all the way back in December 2017.Maybe we will finally pass it in the next 2 weeks. Shares up 16% and ok we have had 4.3p (at least when the interim comes through in Jan) in dividends but to be honest I'd hoped for better. Hoping for better in 2020 - although the core hire hasn't been great, the services are fairly robust and the way things are going testing, training and H&S aren't the worst market to be in as it almost guarantees repeat business.If sentiment improves in the construction sector I feel these could whizz up to 80pDon't see much downside from here - 55p would surely be a floor unless disaster strikes.
The emperor indeed has no clothes.
But just check how the directors have gorged themselves senseless on bonuses and share options (exercised and immediately sold).
The dividend was a prop but now that’s removed, not a whole lot of attraction in holding the shares. Some players on heat have taken a fearful beating.
Ahha, Specs,
Top call on this awful company.
Where are those who pumped this company up when the price was £10.
The ones who mocked anyone who questioned its business model.
The ones who crowed as Phoenix took an almighty “punt” on this share.
The ones who expected £13 in the short term.
A great day.