Pandora A/S Valuation Update after AR 2019

Pandora A/S released its Q4 and FY 2019 Annual Report on 4th February, 2020. The market reacted negatively with Pandora down 2.5%, presumably to the FY 2020 guidance, with sales guidance meeting expectations but expeted margin falling below expectations. I read through the material and updated my former Valuation-post of Pandora.

Pandora will report FY 2019 on Feb 2nd

Pandora will release its Anual Report 2019 on February 2nd, 2020. Since some analysts already revised their estimates upwards (Adj EpS, EpS GAAP, Revenue) after Pandora recently released preliminary Q4 Financials which were perceived very positive, I believe …

Pandora: Trading Update for 2019

January 6, Pandora A/S (PNDORA) released a Trading Update based on unaudited financial numbers for FY 2019 which market participants reacting very positive, sending the stock higher (+10%).

Pandora A/S DCF-Valuation after 2019-Q3

Pandora, a Danish Company producing and Selling Mid-Priced Jewelry, most known for their charms concept, reported Q3 2019 results. Time to update my valuation. The Companys Management is trying to turn around sales trends, currently highly negative. If the turnaround will be successful is very uncertain, thus the Company trades at a Forward P/E of below 10 and out of 20 analysts only 3 give a buy rating. If it is successful there is a much higher valuation to be realized, …

Pandora A/S: 2019-Q3 Update

On Nov 5, Pandora A/S reported results for the 3-Months Period ending Sept 30, (2019-Q3). Market Reaction today was very negative: -17%.

GNK: Cash Offer from CK Noble for Greene King Shareholders

CK Noble (UK) Limited,a wholly-owned subsidiary of CK Asset Holdings Limited, made a Cash Offer of 850 pence in cash for each Greene King Share (GNK LN). In addition shareholders of GNK shares as of Aug 09, 2019 get payed a final dividend of 24.4 GBp (already received).

Pandora A/S: Fundamental Valuation

Ticker(s) included: $PNDZF, $PANDY (ADR); References: Annual Report 2017; CMD 2018; 2018 Q1

Summary

• Shares of Pandora A/S ($PNDZF) lost more than 50% (in EUR) since May 2016
• I performed a conservative DCF valuation, based on recently provided guidance
• Based on this valuation, Pandora appears undervalued to me