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this share has exactly the same problem a couple of months ago following news of regulations to be introduced to fobt, but then the results meant a decent rise, would expect the same coming up on 25th April as all it needs is a bit of good news
cannot see this going any lower, if as investec estimate wmh will lose around £25m that's not too bad, topping up opportunity imo
As markets head lower, bookie William Hill is celebrating the Cheltenham festival by outperforming the laggards. With the FTSE 100 down nearly 1% on continuing fears of a Chinese economic slowdown and worries about the tensions in Ukraine, William Hill is down just 0.4p or 0.1% at 375.7p. The shares are being supported by a buy note from Jefferies, whose analyst James Wheatcroft put a 500p price target on the business, saying: We look forward with optimism. Underlying trading is back on track. Online growth should drive underlying double-digit compounding growth both on a domestic and international basis. The point of consumption (POC) tax [on online gaming] is a major catalyst for online gorillas like William Hill to grab further market share. Our blue sky analysis suggests more than 100% upside. We reiterate our buy recommendation. The three issues that have dogged the UK gambling sector over the past few months have largely abated, in our view: (i) gross win margin appears now to have normalised; (ii) Regulatory concern: proliferation of betting shops on the high street, seemingly now neutralised by proposals for planning restrictions; and possible further legislation on gaming machines, a threat we now see abating; and (iii) the threat of a marketing battle ahead of POC tax remains, but the major listed players have all confirmed no significant ratcheting up of spend (yet). We have heard plenty of negative speculation about regulatory concerns, particularly focused on gaming machines. We have looked further out than the one year view for our 500p price target. We have made several more optimistic assumptions in online, effectively simply assuming the continuation of recent growth trends in online, supported by market share opportunities derived from the POC tax market dislocation. Under our blue sky scenario for 2017, we target 800p per share. By then William Hill's online businesses will likely generate more than 65% of group EBITDA, similar to Paddy Power today. The blue sky valuation is well supported by other more highly rated online businesses. A strong flow of cash underpins our confidence in William Hill's prospects: Our 2017 blue sky scenario assumes just £25m net debt. Assuming a conservative 2 times net debt/EBITDA, more than £1bn of surplus cash is available for acquisitions or returns. Taking our current estimates indicates just £400m net debt by end 2016.
keeps getting to the 400 mark then falling away 5% or so.
surely wont go much lower unless Ukraine situation intensifies, 350 should be lowest
whats behind the big fall today, obviously the ukraine situation is affecting it and its settling out after friday but only expected 2-3% fall max
what's everyone thinking for these now, could see it at 95p soon if no news is announced, anyone know when results will be announced?
must be very good results coming, has had a very good week, finally making profit now. could see a slight fall in the next couple of days though.
anyone think this could hit 350 after Jefferies price target? should be interesting where it goes from here
cheers mate, a decent rise today, almost back to even now
anyone think results will live up to expectations? sp has been flat last week or so