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Share Views: HUM CEO updates on Yanfolila and Dugbe Gold Projects. Watch here

Share Views Ep. 19
HUM CEO updates on Yanfolila and Dugbe Gold Projects.


Braemar Shipping Share Chat (BMS)



Share Price: 306.375Bid: 305.00Ask: 307.75Change: 0.00 (0.00%)No Movement on Braemar Ship
Spread: 2.75Spread as %: 0.90%Open: 315.00High: 315.00Low: 305.00Yesterday’s Close: 306.375


Share Discussion for Braemar Shipping


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rivaldo
Posts: 2,789
Research
Opinion:Strong Sell
Price:369.00
Big earnings downgrade
1 Sep '16
Cantor have downgraded and cut forecasts to 23p EPS this year.

BMS will remain on my watchlist for a recovery in its markets, but a 366p share price puts BMS on a P/E of almost 16, which is surely too high. It may be difficult to sustain this price level imo at that rating:

"Profit warning – BMS has issued a profit warning. Tanker markets have seen lower activity levels and freight rates which has led to reduced revenues. In the dry cargo markets, the company states that despite healthy demand and good transaction volumes, overcapacity continues to depress freight rates to historically low levels. Cost cutting measures have been put in place to reduce costs in this area. BMS’s vessel sale & purchase and offshore desks continue to perform in line with management expectations, with similar levels of activity to the previous year. Generally, USD denominated earnings in these divisions will benefit from the weakness of GBP if the exchange rate is sustained at current levels. In the Technical services division, the slowdown in oil & gas exploration and new project work continues to impact surveying and engineering businesses, particularly in relation to offshore activity. To respond to these tough market conditions, the company has already made a number of senior management changes in the Technical division. The Logistics division continues to perform in line with management expectations.

As a result of these events, earnings for the year ending 28 February 2017 for the group will be “materially” lower than for 2016. BMS further states that it is “well financed” with a strong balance sheet and “substantial” order book, cost cutting measures and new divisional management should lead to an improvement in underlying performance. We cut our forecasts for underlying operating profit for FY17 by over 30% to £9m and our EPS is cut by 24% to 23p. Cuts are made to divisional profits in Shipbroking and Technical. Our FY18 and FY19 forecasts are placed under review. Our recommendation is changed to HOLD from BUY, our TP is placed under review. Interim results will be released on Tuesday 25 October, 2016.
 
Fallingknife1
Posts: 2,404
Observation
Opinion:No Opinion
Price:460.00
Solid results
16 May '16
if nor spectacular. Not helped by the price of Oil and consequently some of the divisions are struggling. A very good jump in underlying profit and free cash flow. Dividend cover is up so perhaps they could have upped the divi. The flat divi might explain partly the muted reaction. However at 26p a year, giving a yield just under 6% in a consistently performing company is not to be sniffed at!




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