PRG - Programmed Maintenance Services

[Wysiwyg]

^ Sorry to read that

@ $1.18 with a 5c dividend it is a good buy I wonder???

Last year it was 11.5c with the SP @ 2.86

The reaction was complete B.S. The company halving its divvy is complete B.S. This market is complete B.S.

Top 200 companies getting sold off like a crap penny stock. Why does it happen?

 

[pixel]

The reaction was complete B.S. The company halving its divvy is complete B.S. This market is complete B.S.

Top 200 companies getting sold off like a crap penny stock. Why does it happen?

No use asking Why? If someone with deep enough pockets wants the sp lower, it only takes a little push after a less-than-exceptional report to send the lemmings over the cliff. Every sale must have a buyer. Earlier this week, I was one of the buyers.



I reckon it will keel rising into next week's AGM (Wednesday morning Perth time). If it looks like turning, I'll take profit; otherwise, I'll buy the dips. A half-year dividend in the order of 5-6c, FF, will justify much more than $1.25.

 

[pixel]

At the beginning of the flag pattern, I took part profit - hoping to buy back below $1.20.



That no longer looks very likely, so I'll simply hold the remainder and don't add or sell till the new direction becomes clear. The flag pattern could break any moment now to the upside.

 

[pixel]

At the beginning of the flag pattern, I took part profit - hoping to buy back below $1.20.

View attachment 66007

That no longer looks very likely, so I'll simply hold the remainder and don't add or sell till the new direction becomes clear. The flag pattern could break any moment now to the upside.

And break it did Meanwhile, another flag has developed, which, if breaking "by the book", should close the gap and move back well above $2.

 

[VSntchr]

Good to see you having success trading PRG pixel.

I did initiate a trade when it got to ridiculous levels but have been flat for a while now.
Your chart has put it back on my radar

 

[pixel]

A really long flag/ pennant blowing to the right. Time to get some updraft.



Volume isn't quite there yet, but it's now approaching breakout point.
We're holding with increasing confidence in its playing out to the upside.

 

[VSntchr]

A really long flag/ pennant blowing to the right. Time to get some updraft.


Volume isn't quite there yet, but it's now approaching breakout point.
We're holding with increasing confidence in its playing out to the upside.

Today's action heightened my interest also. Personally I'm waiting for a close above 156 to get involved again.

 

[skc]

Today's action heightened my interest also. Personally I'm waiting for a close above 156 to get involved again.

Report due 25 May. Make sure you don't get caught holding over this unless you have a strong view on the actual results. Liquidity is terrible at the best of times.

SPO may be an alternative... essentially the same space, similar chart pattern, already reported and much better liquidity.

 

[VSntchr]

Report due 25 May. Make sure you don't get caught holding over this unless you have a strong view on the actual results. Liquidity is terrible at the best of times.

SPO may be an alternative... essentially the same space, similar chart pattern, already reported and much better liquidity.

Thanks mate, timely reminder as the random-schedule results can really catch me off guard every now and then!
SPO looks good, have had success with it in the past so happy to have a close look again.

 

[Wysiwyg]

Okay we got a break of range now. Seems the divvy announcement coinciding with a big Index lift attracted buyers.

 

[McLovin]

Okay we got a break of range now. Seems the divvy announcement coinciding with a big Index lift attracted buyers.

I think it was the confirmation of the FY17 outlook statement (which did have a few caveats around macro environment etc). EBITDA of $130m, EBITA of $100-$110m. Say ~$17m in interest, so NPAT in the range of $58m-$65m (23cps-26cps). PE between 6-7x. Looks pretty cheap on that basis.

 

[skc]

I think it was the confirmation of the FY17 outlook statement (which did have a few caveats around macro environment etc). EBITDA of $130m, EBITA of $100-$110m. Say ~$17m in interest, so NPAT in the range of $58m-$65m (23cps-26cps). PE between 6-7x. Looks pretty cheap on that basis.

Cash flow performance was strong as well. So a pretty solid performance considering they swallowed SKE not that long ago.

Funny that back in Feb when the company announced forecasted earnings, the stock prices got pummeled down to <$1. Today on confirmation of the same numbers the shares go up to now a high of $1.66.

Yeah the market is always right

 

[McLovin]

Cash flow performance was strong as well. So a pretty solid performance considering they swallowed SKE not that long ago.

It was a pretty good result all round I thought. I don't really follow these guys, but I know they're a bit of a crowd favourite on here with a few posters who I do follow.

I think it was the confirmation of the FY17 outlook statement (which did have a few caveats around macro environment etc). EBITDA of $130m, EBITA of $100-$110m. Say ~$17m in interest, so NPAT in the range of $58m-$65m (23cps-26cps). PE between 6-7x. Looks pretty cheap on that basis.

Just for the sake of clarity, I excluded the amortisation charge because it's pretty much entirely related to customer relationships acquired through the SKE acquisition.

 

[notting]

PRG jumps 17c on the announcement of a 5c dividend.
What were they expecting a 12c tax on each share held.
Break out helped a bit too I spose.

 

[McLovin]

Did anyone solve the puzzle? I'm guessing it has something to do with the ladder?

 

[Smurf1976]

Did anyone solve the puzzle? I'm guessing it has something to do with the ladder?

Haven't studied the picture too closely but the ladder doesn't appear to be secured to prevent movement.

There's no barrier to prevent someone crossing from the other side of the street entering the work zone.

Traffic cone and seat are close to the base of the ladder such that someone coming down could fail to see them and trip etc. Can't easily move the bench but the traffic cone could be relocated.

It looks like the intent is that someone goes up the ladder and then walks along the roof to get to whatever they need to access. Is the roof strong enough? What's there to prevent them falling off?

Assuming tools are required, how will they be taken to up? Shouldn't be carrying them in your hands since you're supposed to be holding onto the ladder when climbing it.

Depending on the task being done an EWP (elevating work platform) would be a safer means of gaining access to whatever is being accessed.

Maybe a few more as I haven't studied it too closely.

As for the stock, well I'm holding it so quite happy with today's performance.

 

[McLovin]

Haven't studied the picture too closely but the ladder doesn't appear to be secured to prevent movement.

There's no barrier to prevent someone crossing from the other side of the street entering the work zone.

Traffic cone and seat are close to the base of the ladder such that someone coming down could fail to see them and trip etc. Can't easily move the bench but the traffic cone could be relocated.

It looks like the intent is that someone goes up the ladder and then walks along the roof to get to whatever they need to access. Is the roof strong enough? What's there to prevent them falling off?

Assuming tools are required, how will they be taken to up? Shouldn't be carrying them in your hands since you're supposed to be holding onto the ladder when climbing it.

Depending on the task being done an EWP (elevating work platform) would be a safer means of gaining access to whatever is being accessed.

Maybe a few more as I haven't studied it too closely.

As for the stock, well I'm holding it so quite happy with today's performance.

Lol. Thanks smurf. I can see I have a bit of revision to do before the next exam!

 

[craft]

Cash flow performance was strong as well. So a pretty solid performance considering they swallowed SKE not that long ago.

Funny that back in Feb when the company announced forecasted earnings, the stock prices got pummeled down to <$1. Today on confirmation of the same numbers the shares go up to now a high of $1.66.

Yeah the market is always right

I Suspect the market over estimated the credit risk and underestimated the diversification of the revenue. The debt in particular is well down on even forecast and robustness of the revenue has allayed fears of more cockroaches. Its still pretty cheap - obviously not as cheap as <$1.00 Its probably not going to exceed anything above modest earnings multiples for some time but the opportunity of really low multiples assigned to get to sub $1.00 have probably passed unless something I don't expect happens with the business.

 

[Ves]

I Suspect the market over estimated the credit risk and underestimated the diversification of the revenue. The debt in particular is well down on even forecast and robustness of the revenue has allayed fears of more cockroaches. Its still pretty cheap - obviously not as cheap as <$1.00 Its probably not going to exceed anything above modest earnings multiples for some time but the opportunity of really low multiples assigned to get to sub $1.00 have probably passed unless something I don't expect happens with the business.

I haven't bought any more at lower prices because I'd already reached my allocation when SKE existed (yes, it's pretty red).

Honestly, (and no one should listen to me), with the current state of the economy (especially low infrastructure spending levels) I still don't see why this was expensive at $3.

If it manages to get through the current cycle, and I think it will pretty comfortably as a combined entity, I think these prices will look very cheap in the rear-view mirror when economic cycles do as they generally do and turn.

 

[Wysiwyg]

I haven't bought any more at lower prices because I'd already reached my allocation when SKE existed (yes, it's pretty red).

I still hold core SKE takeover shares and bought more lower. Would still be in the red too otherwise. That market reaction was extreme to get a 67% lowering of price and it shows what a powerful tool fear is.