Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on PETS AT HOME GROUP PLC. We currently have 7 research reports from 2 professional analysts.
|19Jan17 07:00||RNS||Q3 FY17 trading update|
|07Dec16 07:21||RNS||Holding(s) in Company|
|30Nov16 03:45||RNS||Director/PDMR Shareholding|
|24Nov16 07:00||RNS||Directorate Change|
|24Nov16 07:00||RNS||Half-year Report|
|03Nov16 08:37||RNS||Appointment of Joint Financial Adviser & Broker|
|20Oct16 10:08||RNS||NOTIFICATION OF MAJOR INTEREST IN SHARESi|
Frequency of research reports
Research reports on
PETS AT HOME GROUP PLC
PETS AT HOME GROUP PLC
Panmure Morning Note 19-01-2017
19 Jan 17
Pets at Home have released a Q3 trading update this morning that will disappoint the market. Group like-for-like revenue growth was just +0.1% through 3Q16 as subdued trading across the Merchandise business weighed on continued strong growth in Veterinary Services. Profit outlook for FY17 remains in line with expectations. Suspect the shares will come under pressure.
25 Nov 16
"With US markets closed yesterday for Thanksgiving and in the absence of significant overnight news, Europe is expected to have a quiet opening this morning with the FTSE-100 seen just 5 points either side of unchanged in early trading. Markets across Asia ended fractionally higher with even the Shanghai Composite moving positive after falling sharply in opening trade, as conflicting views of regarding the potential impact of tariffs on Chinese imports proposed during Trump's electoral campaign and optimistic scenarios that China now finds itself ideally placed pick up the TTP baton that will be dropped on his first day in office, circulated. Elsewhere in the region, the Nikkei set the early pace with the Yen hitting an eight-month high against the US$, along with similar weakness against the basket of other major Asian currencies, boosting competitivity for this export-led economy. Japanese consumer prices fell by 0.4% in October, although this eight-consecutive decline was in line with consensus and smaller than the 0.5% reported for September. Given also that the ECB is now thought likely to not only continue its EUR80bn monthly asset purchase but also to extend the program out to September 2017, the continuing ascent of the US$ ahead of the Italian Referendum and run-up to the French presidential election, now has forex traders are suggesting parity could between the two currencies could be achieved early in the New Year. Oil meanwhile remained subdued ahead of the OPEC meeting scheduled for 30th November, while Gold fell back again on dollar strength and reduced Indian buying. UK macro releases due today include the second GDP estimate, the CBI Quarterly Distributive Trades Survey and the Hometrack UK Cities House Price Index. Just a few, mostly smaller UK corporates are also due to report earnings or provide trading updates this morning, including Fastjet (FJET.L), Triad Group (TRD.L), Pennon (PNN.L) and Zambeef Products (ZAM.L). Traders will also remain sensitive to further reports from the Western allies who have been pressing Iran for several months for a firm commitment to proceed with proposed cuts to its enriched uranium stockpiles, for fear that otherwise these sensitive negotiations could be scuppered upon Trump's move to the White House in January." - Barry Gibb, Research Analyst
Dominant, defensive and highly cash generative
24 Nov 16
Pets at Home have reported a strong set of interims for the 28 week period to 13th October which highlight the investment strengths. This is a high quality retail business that enjoys a dominant position in an attractive and highly defensive subsector. The company has a pipeline of profitable store openings, reports consistently positive like-for-like growth and is highly cash generative. We therefore reiterate our Buy recommendation and price target of 271p.
14 Stocks due a Referendum Bounce
21 Jun 16
We have now entered the third and decisive stage of the UK’s EU referendum campaign. The launch of campaigning on 15 April saw the beginning of stage one as momentum was captured by the Remain campaign. A series of economic analyses identified the referendum as a risk event damaging to household finances and proved key to a rebound in Sterling. This momentum was recast as the UK entered stage two during a 24-hour period on 26 May. The net migration numbers for 2015 (333,000) were released and the government ceased to be supported by the Civil Service as a result of purdah. This momentum then sat with Leave until 16 June when a combination of the murder of the Labour MP Jo Cox and the third and final phase of campaigning got underway, which is set to benefit the status quo and the better organised and funded campaign – in this case Remain.
27 May 16
"Following quiet, low volume overnight trading across the US and Asian markets, London equities are seen following suit at this morning's opening with the FTSE- 100 little changed. Crude-oil prices fell back after climbing above $50/bbl during UK trading, which spurred profit taking in the materials and energy sectors, while utilities, telecommunications and consumer discretionary equities gained modestly as investors repositioned after days of buying riskier stocks. With little other consensus amongst investors, today's principal focus is likely to be on Fed Chairwoman Janet Yellen's speech this afternoon, from which further hints regarding timing and extent of prospective rate hikes will be keenly sought. This follows Powell's anticipation yesterday that such an event should be expected 'fairly soon' and that subsequent moves will proceed at a gradual pace, while the G-7 noted downside risks to the global economy still remained, as it called for major economies to ensure they sustain balanced policy. No other major data releases are anticipated from Europe or the US today, while results or trading statements are only expected to be seen from Bodycote, Caffyns and Conviviality." - Barry Gibb, Research Analyst
Retain forecasts for FY17E and FY18E
05 Oct 16
While LFL sales growth of 1.8% for the first 12 weeks of FY17 looked a little light, this was on the back of 2.8% growth in the prior period. H2 comps become easier to lap and Christmas bookings (festive trading comprises 15% of FY sales on average) are up 10% YoY.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Strong H1 17 performance, confident outlook for H2
20 Jan 17
Following on from the positive AGM statement at the end of November, MySale has released an upbeat pre-close trading update. Group revenue increased 6% to A$136.1m, while higher margin online revenue, now representing over 90% of the total group, experienced a strong rate of growth of 18% to A$126.5m. As a result, gross margin showed continued improvement of 270bps driving a 17% uplift in gross profit to A$38.4m (versus A$32.7m). Strong trading for the half, combined with a carefully controlled cost base, led to a doubling in EBITDA to A$3.0m. Management are confident going into the second half period and following the increase in guidance at the end of November, the company remains comfortable with current full year forecasts. More detail and an update on trading will be given at the interims expected on 1st March 2017.
EBITDA break-even reached, positive outlook
18 Jan 17
7digital’s FY16 revenues increased 7% y-o-y and EBITDA profitability was reached, as targeted, in Q4. New contract wins in FY16 set the stage for a stronger top-line performance in FY17 and we consider management’s reiterated target of operating profitability in FY17 as realistic. For an operationally geared growth company in its first year of profitability, the FY17e EV/EBITDA of c 12x looks attractive.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
A year of expansion
17 Jan 17
Final results are broadly in line with our revised forecasts on most headline levels in what proved to be a difficult year for the Group. That said, it has significantly increased room capacity, which is now +40% ahead at the time of the IPO (+14.5% yoy), which improves its competitive position and offering. We are maintaining our headline forecasts, and with the dividend expected to be held for the foreseeable future producing an 8.7% yield with a NAV in excess of 180p, we continue to believe there is strong long term value offered at present.