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PartyGaming (PRTY)

Sector:

Travel & Leisure

Index:

FTSE 250

Market Cap

£455.24m

Change Today

Price Up9.00p ()

Share Price

112.50p

Wednesday tips round-up:Bradford & Bingley, Connaught, Persimmon

Date: Wednesday 09 Jul 2008

LONDON (ShareCast) - There are few signs that the markets on which Bradford & Bingley depends are easing, and much of the evidence suggests they are in fact deteriorating at a faster rate, increasing the pressures on the mortgage lender.

Meanwhile the company is still committed to buying £350m of assets from GMAC every quarter, against the threat of rising funding costs.

The underwriters are currently sitting on a hefty paper loss and any attempt to offload their shares following the offer could depress the shares even further. Depositors' money is safe, but any investor with money still tied up in the shares should get out now. Sell says the Telegraph.

Social housing contractor, Connaught issued an upbeat trading statement yesterday. The stock is up by 16% in the last 12 months, but that should continue to progress nicely. As a huge number of companies struggle in what is increasingly looking like a recession in the UK, Connaught should be a relative safe haven and even looks good against its peer group. Buy says the Independent.

Online betting group Partygaming issued a mixed trading statement yesterday, showing revenues falling and a disappointing performance in its poker division, but also that its bingo games are thriving. Some brokers uggest the group is cheap to the rest of the sector trading at 15 times 2008 earnings, falling to 12.1 next year but Partygaming will be a bumpy ride, Cautious hold says the Independent.

The group reckons that full-year results should meet expectations, although, with a settlement with the US Department of Justice still to be negotiated, the shares, at 223½p, or 13 times 2008 earnings, are only for the brave. Avoid says the Times.

Dunelm Group, the out-of-town homewares retailer, yesterday turned in another solid trading update. Total sales for the 12 months to June 30 were up 10.5%, with like-for-like sales ahead 2.5%.A forward rating of seven times might seem mean for a strongly cash-generative company with negligible net debt and a secure yield of nearly 4%. However, with profits likely to be flat this year and sentiment on its sector dire, there is little to drive the shares higher. Pass says the Times.

Animal drugs specialist Dechra is making steady progress in securing US regulatory approval for Vetoryl, a remedy for Cushing’s disease in dogs, which could boost sales by an annual $25m within three years. Dechra sits in a defensive niche (its products are used for critical care) where a shift in sales away from veterinary services to higher-margin pharmaceuticals has yet to run its course. At 417½p, or nearly 18 times current-year earnings, hold on says the Times.

Jacques Vert's trading in the last 10 weeks, which is down 5.9%, indicates that the worst is not over for specialist fashion house and retailer. Investors would be rash to buy any retail stocks for the foreseeable future. Sell says teh Independent.

As it has probably trimmed all available fat from overheads and cut land spend to the minimum, it is almost inevitable housebuiler Persimmon will need to make hefty land bank writedowns at some point. Persimmon is better placed for the downturn than some but the next 18 months will still not be pretty says the FT.

Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PartyGaming Market Data

Currency UK Pounds
Share Price 112.50p Price Up
Change Today +9.00p
52 Week High 302.50
52 Week Low 95.00
Volume 2,083,834
Shares Issued 404.66m
Market Cap £455.24m
Beta 0.88
RiskGrade 447

Performance Indicators

Compare performance with the sector and the market.
Find out more
Key: vs Market vs Sector
Value
14.99% above the market average14.99% above the market average14.99% above the market average14.99% above the market average14.99% above the market average
17.31% above the sector average17.31% above the sector average17.31% above the sector average17.31% above the sector average17.31% above the sector average
Price Trend
27.93% below the market average27.93% below the market average27.93% below the market average27.93% below the market average27.93% below the market average
28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average28.57% below the sector average
Income Not Available
Growth
87.39% above the market average87.39% above the market average87.39% above the market average87.39% above the market average87.39% above the market average
96.00% above the sector average96.00% above the sector average96.00% above the sector average96.00% above the sector average96.00% above the sector average
Price Chg 6m
33.91% below the market average33.91% below the market average33.91% below the market average33.91% below the market average33.91% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
P/E
20.95% below the market average20.95% below the market average20.95% below the market average20.95% below the market average20.95% below the market average
48.57% below the sector average48.57% below the sector average48.57% below the sector average48.57% below the sector average48.57% below the sector average
PEG
75.81% above the market average75.81% above the market average75.81% above the market average75.81% above the market average75.81% above the market average
79.59% above the sector average79.59% above the sector average79.59% above the sector average79.59% above the sector average79.59% above the sector average
Dividend Yield Not Available
EPS Growth
94.81% above the market average94.81% above the market average94.81% above the market average94.81% above the market average94.81% above the market average
96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average96.67% above the sector average
Operating Margin
31.87% below the market average31.87% below the market average31.87% below the market average31.87% below the market average31.87% below the market average
40.38% below the sector average40.38% below the sector average40.38% below the sector average40.38% below the sector average40.38% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 2
Sell 0
Strong Sell 1
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PartyGaming Dividends

  Latest Previous
  Final Final
Ex-Div n/a 05-Apr-06
Paid n/a 19-May-06
Amount 0.000¢ 5.25¢

Trades for --2008

Time Volume / Share Price
0 @ 0.000p

PartyGaming Key Personnel

Finance Director Martin Weigold
CEO Jim Ryan's

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