Lupo di mare
28 Feb 2015
Re: Excellent trading update today Well that question was by-passed, presumably because nobody has any idea of which direction earnings are heading. From a high of 2.4% ptp margins about 7 years ago, we are now languishing on 0.9% margins. That's important because although they talk of improved cashflow, which pays our divis, we don't know just how much of that is due to changes in Receivables and Payables.It's all very well quoting a couple of brokers, and, btw, PG have lowered their guidance, but the question of margins needs to be addressed and nowhere can I find any discussion of that matter in their accounts.If they could raise the margins back up to 2.4%, then this would indeed be a winner. It could be that what we have seen in increased revenue is a reflection of building market share to allow for increased profitability. I don't know, but I sure would like to know. As Alan Sugar would say, "any fool can sell products at a loss", or in HVN's case at a very small profit.
city watcher
27 Feb 2015
Re: P/E of only 9, and 4.4% divi yield There trading statement made today is sure impressive. A few links follow to support my reasons for buying into this company. This is worth a read too.Harvey Nash Group plc (LON:HVN)‘s stock had its “buy” rating reaffirmed by investment analysts at Numis Securities Ltd in a note issued to investors on Friday. They currently have a GBX 160 ($2.46) price objective on the stock. Numis Securities Ltd’s price objective would suggest a potential upside of 86.32% from the stock’s previous close.Harvey Nash Group plc (LON:HVN) opened at 85.20 on Friday. Harvey Nash Group plc has a 1-year low of GBX 66.32 and a 1-year high of GBX 124.75. The stock has a 50-day moving average of GBX 80.43 and a 200-day moving average of GBX 87.75. The company’s market cap is £62.2 million.Harvey Nash Group plc is a global professional recruitment and outsourcing consultancy. The Company supports multinational organizations and smaller companies to recruit and retain outstanding executives and senior management talent through a specialist search approach and leadership consultancy service.27 Feb 15 Numis Buy 88.00 160.00 160.00 Reiterates25 Nov 14 Numis Buy 88.00 160.00 160.00 Reiterates25 Nov 14 Panmure Gordon Buy 88.00 143.00 114.00 Reiterates14 Oct 14 Panmure Gordon Buy 88.00 143.00 143.00 Reiterates30 Sep 14 Numis Buy 88.00 160.00 160.00 Reiterates30 Sep 14 Panmure Gordon Buy 88.00 143.00 143.00 Reiterates20 Aug 14 Numis Buy 88.00 160.00 160.00 Reiterates05 Jun 14 Numis Buy 88.00 160.00 160.00 Reiterates25 Apr 14 Numis Buy 88.00 - 160.00 Reiterates[link]
gretel
27 Feb 2015
P/E of only 9, and 4.4% divi yield Numis reiterate their Buy - with a 160p target:[link] market should now look at this year's forecasts of 9.55p EPS, with a 3.8p dividend, and will hopefully re-rate upwards accordingly.GP margins are up over 5% year-on-year on a constant currency basis. Impressive enough for me.
Lupo di mare
27 Feb 2015
Re: Excellent trading update today Well, yes, a positive update, but HVN has been a case of jam tomorrow for years with the eps and ptp going absolutely nowhere, despite turnover doubling since 2008.They must be under considerable competitive pressure with margins so thin.Question is, gretel, is there any reason to believe that matters will improve, or is that low 'ish P/E about right? Genuine question, m8.
gretel
27 Feb 2015
Excellent trading update today Good news in today's trading update - trading in line with expectations, plus much improved cash flows leaving HVN in surplus with £2m cash, despite acquisitions, technology investments etc.Achieving 8.63p EPS - with a 3.5p dividend - puts HVN almost on a single-figure P/E, and with 9.55p EPS forecast for this current year that's a P/E of just 9.2:[link]
city watcher
22 Feb 2015
Whilst we wait Kind of knew this was due a rise, so pleased, but I'm sure there is more fuel there. So here is a good link for some old classic hits of the past with some modern versions too !!! - Enjoy.[link]
city watcher
06 Feb 2015
Re: Hargreave Hale buying up shares Well spotted and besides the very,very large recent purchases, I read in yesterdays Evening Standard about latest broker upgrades for this stock implying that it was sure to have a good 2015 having put any decreased profit figures behind it. These were announced back in September.Does anyone have the Evening Standard write up? I looked for it online to no avail.Here are some recent broker upgrades for Harvey Nash - £1-60 sounds very nice! [link]
gretel
04 Feb 2015
Hargreave Hale buying up shares Two holding RNS's from HVN yesterday, showing that Hargreave Hale have increased their stake by a mighty 1.6m shares to 8.4m, or over 11%.In particular, it's great to see in the detail of the RNS that Giles Hargreave's Marlborough Fund Managers are the driving force for the buying, heavily increasing their stake.The City will hopefully sit up and take notice that Monsieur Hargreave is so keen on HVN.
MRBIG
13 Jan 2015
this is on half the PE valuation of Page
biker1
26 Nov 2014
Disappointed ‘Good trading statement – numerous tips – 160 target price – all good news’All of this was said of HN in the last 5 months – so what went wrong ‘AGAIN’Just as it was looking like HN was finally being recognised as a worthwhile bet to investors this happens, there’s always something with this company even when conditions are on the up.I’ve held these shares for many - many years (most of them poor) and heard all the ‘good news’ stories before (many times) I’m afraid they now fall on deaf ears with me regarding this company and as soon as a bit of improvement takes place I’m selling the lot unless anyone can give me some encouragement not to?IMO these shares are fine for a quick ‘in & out’ in short term and probably now is as good as any to get some bought (not for me though) but if you are looking for long term investment – forget it – I’m very disappointed and the long long wait begins again.
gretel
25 Nov 2014
Mixed trading, but certainly cheap imo A mixed trading statement, which seems to have been anticipated by the markets given the recent share price performance.HVN now go for similar operating profits to last year, which equates to around 8.8p EPS, so it would seem the current 77p has discounted everything.The 3p-3.5p dividend should help too.Currency movements should benefit H2, to at least mitigate the European downturn.Interesting that HVN has appointed specialist advisers to recommend on its strategic options for the European telecom outsourcing business. How much might they get for this I wonder?The cash should be increasing nicely given the success in reducing debtor days.The 8% increase in headcount since January should also soon result in additional revenues after the initial bedding in.I think perhaps HVN have prepared the markets for the worst - and the short-term bad weather in the USA may have contributed to that sentiment - such that the 31/1//15 results and overall outlook may be rosier, especially with possible European QE and an American economy which continues to prosper.
MRBIG
20 Nov 2014
randstad results reassuring
