If you do a bit more research perhaps PNC is trading at discount...

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Benjamins

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01/08/17

14:17

Post #: 26216928
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Originally posted by JoeGambler ↑

Had a look at PNC and compared to CCP. I like that PNC has a founder substantial shareholder and the business is experience a lot a growth it is not being priced for. For example forward PE of 8! on the FY18 guidance.

However, if you simply look at return on capital and return on equity, CCP is clearly the highest quality business in the sector. Yes, you do have to pay more of a premium for it in context of the sector, though I think CCP is likely to achieve fair value before the smaller players like Pioneer and Collections House. If you were to have one in your portfolio I think it is hard to go past the quality and track record of CCP, and simply hitch your wagon to the best and biggest in the sector. I also think CCP has clearer growth prospects in the form of the US expansion and consumer lending.

Good find though, enjoyed taking a look at PNC and you are definetly right, it is cheap!

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If you do a bit more research perhaps PNC is trading at discount due to the chequered history of its founder which was well flagged when they listed. I think CCP much higher quality business and deserves to trade on higher multiples although at ~13x FY18 earnings it is cheap itself considering the company is expecting ~ double digit growth. Hard to find double digit growth companies trading below 16x anywhere on the ASX.

CCP Price at posting: $17.89 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $15.27		Change 0.000(0.00%)		Mkt cap ! $1.039B

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	23	$16.19

Sellers (Offers)

Price($)	Vol.	No.
$14.13	1128	1

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No.	Vol.	Price($)
1	23	16.190
1	281	15.760
1	5	15.730
1	3	15.430
1	103	15.270

Price($)	Vol.	No.
14.130	1128	1
14.350	92	3
14.510	518	4
14.810	118	1
15.280	103	1

Last trade - 09.53am 31/07/2025 (20 minute delay)

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If you do a bit more research perhaps PNC is trading at discount...

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If you do a bit more research perhaps PNC is trading at discount...

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