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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Primary Recommendation

Marstons - Pubs operator attractive on PE of 6 and dividend yield of 10.9%

January 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MARS
  • Price:
  • 122p
Against the backdrop of 36 pubs being forced to close every week, Marstons, the owner and operator of more than 2,250 pubs in England and Wales, might not seem an obvious share to buy. However, Marstons is a long established business with a high quality freehold estate and given that it has survived two world wars and several nasty recessions, it wasn't surprising that its final results on 5 December sent the doom-mongers scurrying. Not only  did earnings coming within a whisker of last year's record but it was also confident enough to hold its final dividend, which in this low interest rate climate makes the shares, which trade on a PE of 6.0, dividend yield of 10.9% and free cash flow yield of 23%, a compelling opportunity. ...

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Marstons - "Improvement in all divisions" (December 2011)
Marstons - Dirt cheap on yield of 6.7% (September 2011)
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Marstons (March 2011)
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Marston's (July 2010)
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Marstons (January 2010)
Marstons (December 2009)
Marstons (September 2009)
Marstons - Launches 11:10 rights issue (July 2009)
Marstons - Managed pub sales unexpectedly rise (May 2009)
Marstons - Slight improvement in trading (March 2009)
Marston's - Quality asset-backed pubs operator (April 2007)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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