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CategorySPD

Sports Direct – A Bargain Basement Price for Investors?

Sports Direct, the stock ’em high sell ’em cheap sports retailer has lost 60% of its value since in just one year and it cannot have escaped your notice that it has been routinely lambasted by politicians, regulators and shareholders alike over the same period. Today the shares trade around 300p, this capitalises the company at £1.8bn, with only modest net debt the Enterprise Value is around the same level. So with the shares trading on a forward P/E of 11, has all the downside been priced in already?

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