PNDORA DC

Pandora A/S

Consumer


Presented:11/10/2015
Price:DKK816.00
Cap:$14.79B
Current Price:DKK1,063.00
Cap:$11.94B

Presented

Date11/10/2015
PriceDKK816.00
Market Cap$14.79B
Ent Value$13.17B
P/E Ratio32.64x
Book ValueDKK51.13
Div Yield0%
Shares O/S121.33M
Ave Daily Vol509,918
Short IntN/A

Current

PriceDKK1,063.00
Market Cap$11.94B
Pandora A/S designs, manufactures, and sells hand-finished and modern jewellery. It operates through the following segments: Americas, Europe and Asia Pacific. These geographical segments comprise of stores, shop-in-shops, gold, silver and white and travel retail. The company was founded by Per Enevoldsen and Winnie Enevoldsen in 1982 and is headquartered in Glostrup, Denmark.

Publicly traded companies mentioned herein: Pandora A/S (PNDORA DC), Tiffany & Co (TIF)

Highlights

The presenter is short shares of Denmark’s Pandora A/S, which is best known for its contemporary charm bracelets and rings. He noted that the company reported interim Q3 2015 results the morning of November 10th, and characterized the quarter as “in line, with a slight beat on the top line.” Pandora’s US growth has softened as the market may be fully saturated, and the decline in Russia and stagnation in Germany mean the top performing geographies (Australia and the UK) have to perform that much better to make up the difference. With the Street anticipating +20% EPS growth y-o-y looking out to 2018 the company could fall well short. With the stock closing at over 800 DKK, he likes the risk/ reward setup for a bearish bet on a “very crowded long” over the next 12 - 18 months.

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