PNC - Pioneer Credit

[Snow Leopard]

I thought that there was an existing thread for this, I have a memory of posting about PNC, but perhaps I just dreamed it. But as I can not find it I am starting this thread.

If I recall correctly, and that ability is obviously a little suspect, they buy up dodgy debts and not just try and collect what they can on them but actually do a little chatting, hand-holding & general 'here blow your nose into this' with the debtors. Make them into better people and then hopefully lend them some more money.

Anyway the SP has gone up 8% today on the largest one day volume in over 2 years.
I have no idea why.

I consider it probably that my holding in this company is not a figment of my imagination.

Best Wishes
Paper Tiger

[percy]

T'was here...once....
Think it was one of Steve Fleming's.

[Joshuatree]

One of mine too . Steve come back;) Prob this research note comparing it to CCP did it.

https://www.livewiremarkets.com/wir...ource=Trending (https://www.livewiremarkets.com/wires/is-this-the-next-credit-corp?utm_source=Trending+on+Livewire+%22The+Mornin g+Wire%22) on Livewire "The Morning Wire"

[Snow Leopard]

Thanks for the info.

It would be nice if PNC is able to emulate CCP except for that disastrous 2007-8 period (from $12 to $0.50 approximately).

I wanted in on the recent PNC capital raising but for various reasons, mainly the postal service, missed out.

Best Wishes
Paper Tiger

[Snow Leopard]

EPS for FY2017 was $0.203.

They are now expecting a 48% increase on that for FY2018 [announcement (https://stocknessmonster.com/news-item?E=ASX&S=PNC&N=854047)].

That would be $0.30.

Share price is currently less than $2.70.

Best Wishes
Paper Tiger

[Joshuatree]

s/p $3.30 atm, (up to $3.54) on half y results:t_up:

Download Document 304.44KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5A26w BeZsPl6ke92GA%3D%3D)

[Joshuatree]

https://www.livewiremarkets.com/wires/why-skin-in-the-game-drives-performance
powerful examples of effective management incentivisation

[LAC]

Excellent result today

[Joshuatree]

Not bad ehhh! Top end of guidance with a 50% increase in div! Good outlook next year but more conservative est for profit increase next year of 14%, this year re 47% increase.

[LAC]

Not bad ehhh! Top end of guidance with a 50% increase in div! Good outlook next year but more conservative est for profit increase next year of 14%, this year re 47% increase.

Yeah a little on the conservative side at 14% for the next year. Hoping they will give us an upgrade during the year. Happy holder at the moment tho, will accumulate if the price drops over the coming months as I think these guys are doing a good job for the future.

[percy]

With their projected growth rate higher than their PE ratio they still look like good buying.

[Joshuatree]

Even better buying now. Reaffirming full year guidance npat $ 20 mill plus BUT half year undershot, div cut CFO resigns.S/P down re 71c.

[LAC]

Wasnt happy with that announcement today to be honest. I like the fact that are still on track fir their full year guidance but was rather shocked at the 33%decline in NPAT, had no idea it was going that way.

[Joshuatree]

Download Document 364.13KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4Qi%2 ByRCZsPl6ke92GA%3D%3D) Trading halt re "false market" re valuation."PNC believes that, among other matters, there may be a false market in relation to information regarding the classification and measurement of Purchased Debt Portfolios and is seeking the trading halt pending the release of further information."

You may have timed it pretty well LAC, fingers crossed for an upsurge soon.

[LAC]

Sounds like too much panic by PNC for no reason which makes me wonder if there is a reason

[DarkHorse]

Debate over non-cashflow related accounting issues + timing of income deferring profits to 2nd half = SP has plummeted despite good track record and outlook. It seems the former issue has eroded trust in management, including their assurances that they're on track with full year profits.
To me, cashflow, long-term profits and management of the company are far more important than short-term accounting treatments and management of investor PR. All worst case scenarios priced in and a lot of upside potential for patient investors here imho.

[Snow Leopard]

Up 27% on the fact that there are a few potential takeover offers in the air.

Even now it is still a bargain on the long-term fundamentals, in my opinion.

[LAC]

Up 27% on the fact that there are a few potential takeover offers in the air.

Even now it is still a bargain on the long-term fundamentals, in my opinion.
Yeah, I hope there is a concrete offer in the coming days which reflects a premium to fair value.

[Joshuatree]

Just seen this, woohoo, Rewarded.:D Be interesting to see where this goes, Keith John and two others hold re 20%.

[LAC]

The company is screaming they will meet guidance 4th time now. If they miss it, it will be game over...

[Joshuatree]

Only 3 weeks away .
Seems much ado about nothing with the accounting treatment switch,"expects a small, although not material, positive revaluation of assets when the PDP is measured using Amortised Cost at the transition date of 1 July 2018 (against the previously reported carrying value of $224.6m)."

[LAC]

They did disappoint last earning report though...

[trader_jackson]

Only 3 weeks away .
Seems much ado about nothing with the accounting treatment switch,"expects a small, although not material, positive revaluation of assets when the PDP is measured using Amortised Cost at the transition date of 1 July 2018 (against the previously reported carrying value of $224.6m)."

https://www.afr.com/companies/financial-services/pioneer-credit-in-limbo-over-books-20190826-p52kud

Seems a big dodo all of a sudden!

[percy]

https://www.afr.com/companies/financial-services/pioneer-credit-in-limbo-over-books-20190826-p52kud

Seems a big dodo all of a sudden!

Seems as though we live in interesting times.?

[Snow Leopard]

https://stocknessmonster.com/announcements/pnc.asx-6A943479/

So, this is now getting serious.... :scared:

[Joshuatree]

They did disappoint last earning report though...

Foole me once shame on them fool me thrice DOH!!!!!:eek2:

[LAC]

What an absolute mess!!! This is going to be a disaster! Nobody but Management to hold accountable for this,

[DarkHorse]

Indeed - getting their arses kicked while their heads are in the sand...along with us hapless shareholders. Some lessons learned here!

[Snow Leopard]

https://stocknessmonster.com/announcements/pnc.asx-6A958589/

Looks like I will come out of this mess at a profit.

Worse things happen at sea.

[Joshuatree]

Thanks for that xmas pressy.Good tidings,PHEW:ohmy::closed eyes::huh::mellow::))

[LAC]

I’m sure I will be slightly down but I’ll take it on the chin as I was thinking this will go down to zero!

[Joshuatree]

PNC back trading. Currently trading re $1.77. Payout in April , re $1.82 including any div but Im not able to use franking credits so its farewell from me.

ps i got $1.78 for mine.Didnt want to be in Newco either.

[LAC]

What a mess this one has been....
The cashflow is there but who will ever trust this management team again is beyond me

[wizAlvin]

only 30 + hours to get your 2020 picks in .... about ONE DAY

[Snow Leopard]

Sold out at $1.795 today.

I thought I was going to come out with a small profit :) but the accounts says it is a small loss :(

Oh well, you can not win them all.

[LAC]

I sold out last week at 1.78, massive losses for me;( oh well you learn I guess,

[wizAlvin]

24 hours or LESS to enter the 2020 Competition

[trader_jackson]

I think it was smart selling late last year....!

[Joshuatree]

Messy s/p 29c atm !!

Download Document 581.88KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD5Au8z BaZsPl6ke92GA%3D%3D)

[Snow Leopard]

Messy s/p 29c atm !!

Download Document 581.88KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD5Au8z BaZsPl6ke92GA%3D%3D)

Ended the day at 28c a pop, is this the end the of world ?


https://www.youtube.com/watch?v=hd8PCJ3pTHE

[kiora]

Ended the day at 28c a pop, is this the end the of world ?


https://www.youtube.com/watch?v=hd8PCJ3pTHE

Nope,then same time tomorrow ? ;)