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main summary was this...
Analysts upgraded their forecasts for next year. Barclays, the company’s own broker, is forecasting £63 million in pre-tax profit, rising to £149 million in 2022. Independent analysts are less gung-ho, but still see a bouncy recovery. Shore Capital is pencilling in £38 million for 2021. Everybody sees dividends restored, perhaps to 5p to 8p next year and then to 23p to 25p the year after.
On that basis, the Provi is a strong “buy”. The shares, which rose 11½p, 5 per cent, to 245p yesterday, trade on a bargain-basement five times 2022 profits. The prospective yield for that year is 10 per cent. The Provi, for years a darling of income investors, might just be about to reclaim its crown
https://www.thetimes.co.uk/article/is-there-a-recovery-on-the-doorstep-for-provident-financial-22658sgxv
Good update this morning. Capital buffers ridiculously strong with 36% CET1 ratio and home credit collections back to pre – virus levels
Ibstock PLC (LON:IBST) has been downgraded to ‘hold’ from ‘buy’ by analysts at Deutsche Bank, who also decided to cut their forecasts following a trading update from the brick and concrete maker last week.
In a note on Monday, the bank also lowered its target price for the FTSE 250 firm to 168p from 183p alongside a lowering of their pre-tax profit forecasts for both 2020 and 2021.
READ: Ibstock sees demand recover in third quarter amid improved housebuilding activity
Analysts added that while they did not think the shares were expensive, they believed they were “up with events”.
Yet a 20% increase in instructions since June...fantastic update
Provident does well in these conditions as borrowers turn to them as big banks wont lend to them. Even more so in lockdown 2
when I bought this share, I took account of further lockdowns. they have a strong balance sheet and can cope with a a month long shutdown. however the price will drop at open, will top up if they went to 70p
its difficult to understand. lloyds confirmed they are doing wel with huge increase in mortages and separate data shows mortgages hitting 13 year high. Purplebricks should be rallying as revenues must be blowing higher especially as they are online seller taking market share from traditional agents