Results out soon in August.

Broker recos look very bullish and why not on a P/E of just over 6 to 2011.....

Thomas Cook Group PLC

FORECASTS 2010 2011
Date Rec Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Panmure Gordon
02-08-10 BUY 319.00 27.10 11.30 338.00 28.70 12.40

Exane BNP Paribas
02-08-10 BUY 116.00 26.62 10.75 319.00 28.87 11.66

Numis Securities Ltd
02-08-10 ADD 324.20 27.60 11.25 357.10 29.90 11.81

Oriel Securities
02-08-10 BUY 330.40 28.40 11.40 363.50 31.30 12.10

KBC Peel Hunt Ltd
30-07-10 BUY 301.06 25.22 10.75 313.36 26.23 10.93

WestLB
30-07-10 SELL 28.81 11.52 29.91 11.96

Shore Capital
30-07-10 HOLD 312.00 26.50 11.80 347.00 29.50 13.00

Charles Stanley Securities
15-06-10 HOLD

Evolution Securities Ltd
11-02-10 None

Investec Securities [R]
09-02-10 BUY 327.00 27.30 11.74 352.23 29.39 12.49

Fyshe Horton Finney Ltd
25-01-10 BUY

Collins Stewart
24-12-09 BUY

Nomura Research Institute
25-09-09 RED

2010 2011
Pre-tax (�) EPS (p) DPS (p) Pre-tax (�) EPS (p) DPS (p)

Consensus 316.42 26.98 11.36 342.50 29.39 11.96

1 Month Change 1.07 -0.22 0.01 3.43 -0.14 -0.14
3 Month Change -11.92 -1.09 -0.05 -11.79 -1.00 -0.44


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS 2.76% 0.38% 8.92%
DPS 14.03% 10.80% 5.26%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA �574.90m �589.69m �613.90m
EBIT �372.50m �420.55m �447.05m
Dividend Yield 5.38% 5.96% 6.27%
Dividend Cover 2.62x 2.38x 2.46x
PER 7.10x 7.07x 6.49x
PEG 2.57f 18.55f 0.73f
Net Asset Value PS -240.80p 224.47p 240.43p

Not as yet - I think info is sent out today.

"Admission and dealings in New Ordinary Shares, nil paid, commence on the London Stock Exchange and Ordinary Shares marked "ex-rights" 8.00 a.m. on 5 June 2013"

Ticker is TCGN

marginally cross with myself, as i looked at these first thing and dithered, not least because the order book didn't and still doesn't look too hot .... just shows; order book can give wrong signals

Plenty of time to buy back in over the next few months cynic! There still seems to be quite a bit of confusion on other bulletin boards about what exactly is going on. :-)

certainly on a very gruesome day, TCG (and BLNX) are shining beacons

Panmure Gordon summary:
"Post todays corresponding share adjustment, we believe Thomas Cook remains highly attractive given the improving underlying trading backdrop, potential for additional cost savings (we estimate at least a further £155m) and improving cash flow. With a forecast CAGR in EPS over the next three years of c70%, with earnings holding upside potential, we believe Thomas Cook offers exceptional value trading on a 2014E EV EBITDA of 4.1x, below peer multiples. Therefore, we reiterate our Buy recommendation and 164p Price Target, implying 33% upside."

It's taken a while for the message to get through to Panmure Gordon, but at last they have managed to join the dots together!

Lovely gap to be filled on the daily chart.

Oscilators oversold.

Fair range on the new shares today.

sp 119p down 5%

Anyone hazard a guess as to where the bottom might be??

Personally I haven't got a clue - and I've long given up trying to be a clever clogs by selling at the top and buying at the bottom with shares. I'm going to buy back in at some point, as I think this will resume it's journey North once all the brouhaha has settled down.

A while to go yet, so I would expect it to drift further. For investors I don't really think it matters too much, as db4 says, once the RI is out of the way, the sp should pick up again.

Latest time and date for acceptance, payment in full and registration of renunciation of Provisional Allotment Letters 11.00 a.m. on 19 June 2013

Announcement of results of the Rights Issue by 8.00 a.m. on 20 June 2013

Dealings in New Ordinary Shares, fully paid, commence on the London Stock Exchange by 8.00 a.m. on 20 June 2013

New Ordinary Shares credited to CREST stock accounts as soon as possible after 8.00 a.m. on 20 June 201

Close to crunch time now for investors, this could be a good buying opportunity soon, but I'm waiting to be convinced before buying in again. Any other views appreciated - either negative or positive.

Imo, you just have to make a decision and stick to it. I have elected to retain my stock & buy my rights at 76p, on the basis that ordinary investors who don't hold stock will not be able to buy that cheaply. Of course I have seen my profit dwindle in the short term, but post RI I am reasonably confident that the sp will recover quickly. The french ATC strike isn't helping, nor is the unrest in Turkey, but no doubt intrepid british holiday makers will keep booking to get away from this weather, so I am trusting that TCG next set of figures are going to be reasonable. A calculated risk, but am prepared to follow the brokers atm.

very brave harry - if the rights issue is a flop there will be a blood bath.
lets face it its a huge rights issue on the strength of what?
a re-vamped store, a new ceo, there are still loads of unprofitable stores and as you say outlook for travel is at best weak given the trouble in turkey, spain, greece etc.........

I'm not holding these at the moment transco, but will buy back in once things settle down again. I don't agree with you that the outlook for travel is weak, in fact the opposite. Most of the indicators - not least the awful weather in this country - point to an increasing demand for holidays abroad. My neighbours have just booked a holiday in Turkey for the end of this month and have no concerns about going there with their two children.

Think things have settled down a bit now..glad I topped up over the past few weeks and have taken up the RI in full...Panmure Gordon have restated overwieght & target of £1.60.. onwards and upwards... next week or two will be interesting!

Just for everyone's info.


Magnetar Financial shorts Thomas Cook
StockMarketWire.com
Magnetar Financial (UK) has disclosed that it is shorting Thomas Cook Group.

Magnetar Financial disclosed that it held a short position of 0.41% on 13 June.