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Serco Share Chat (SRP)

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Share Price: 77.80Bid: 77.80Ask: 77.95Change: 1.00 (+1.30%)Riser - Serco Grp.
Spread: 0.15Spread as %: 0.19%Open: 77.05High: 79.30Low: 75.95Yesterday’s Close: 76.80

Share Discussion for Serco

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Posts: 197
Off Topic
Opinion:No Opinion
Tue 16:00
This is a steal at this price, should definitely see a bounce from this level.
Posts: 9
Off Topic
Opinion:No Opinion
well well well...
30 Jan '16
Folks read my previous comments on this share ..
Posts: 116
Premium Chat Member
Off Topic
Opinion:Strong Buy
Results due
28 Jan '16
Shorts closing before results!
Posts: 200
Opinion:No Opinion
Serco (SRP) Recognition Momentum
15 Jan '16
Posts: 347
been holding off
11 Jan '16
glad i did so now 83p today not good from highs of nearly £8 couple of years ago. I am no expert by any means but think this could have further to fall so i'll keep old of my cash a little longer got to turn at some point
Posts: 19
Off Topic
Opinion:No Opinion
RE: Double Bottom
8 Jan '16
Business is making the right steps to overcome the recent bad publicity and cost spirals, overall offers a good play.
Posts: 116
Premium Chat Member
Off Topic
Opinion:Strong Buy
Double Bottom
6 Jan '16
Should push on from these levels, can see 110 by Feb
Posts: 434
Off Topic
Opinion:No Opinion
A Lyons
7 Dec '15
I see that the shadow of Mr Lyons, former chairman, (on the losing side when Santander bailed out Abbey National and chairman of the highly indebited Towergate) continues to cast its spell. Good to know that his CBE was well deserved and, despite the loss incurred by shareholders, is comforted by his substantial pensions.
Posts: 2,106
Off Topic
Opinion:Strong Buy
SRP, Significantly HIGHER..........
7 Dec '15
SRP Serco Group, Cracking update............

SRP Serco... Reported Trading Profit in 2015 likely to be significantly higher than Underlying Trading Profit.
Posts: 2,106
Off Topic
Opinion:Strong Buy
SRP, This Mornings Full Broker Note
1 Dec '15
SRP Serco Group

Updated with this mornings full note.

<b><u>Jefferies Full Note This Morning.BUY TARGET 157p</b></u>

<b><i>We upgraded to Buy in September as we felt risk/reward had become
favourable. According to The Financial Times this contrarian call was “very
brave” but two months on, and ahead of a year end trading update, our
conviction is increasing. Headwinds have not fully abated, but the IMS will
highlight the significant progress made by new management in 2015.
FY16E attrition guidance could increase to £400m. Earlier this year, Serco guided to
£350m revenue attrition in FY16E. In our view, this could be revised to c£400m as the original
figure included £50m from Intelenet (which drops out as it will be sold before year end)
and the following contracts have been lost or lapse: US National Benefits Centre (£35-40m
annual revenue); Virginia Department of Transport (c£35m annual revenue, winding down
towards a May 2016 exit); complex cases child maintenance (£30m annual revenue which
runs off over three years as existing cases are resolved).
Disposal update. Judging by Blackstone’s recent financing activities the Intelenet
acquisition is on track to complete before year end. This leaves UK leisure/waste as Serco’s
sole remaining non-core asset, but novating its contracts to individual legal entities could
take until mid-2016. Serco’s balance sheet will have been de-risked by then, and we think its
turnaround will have a firmer footing so there may be a case for retaining this public sector
facing unit.
Positive cashflow developments. Serco recently reached a favourable agreement with
the Australian government to amend its contract to provide in-service support to Armidale
Boats. This is the largest component of the £447m onerous contract provision and resolving
loss makers would lead to material FCF upgrades. On recovered earnings, Serco has an 8%
FCF yield.
Trimming LFL revenue assumptions; unchanged EPS. We now anticipate -8% and
+2% organic revenue growth in FY16E and FY17E, respectively (previously -5% and +3%)
due to higher attrition, but our EPS estimates remain unchanged for two reasons: 1) as we
highlighted in our September note, management feel more in control of cost efficiencies;
2) we assumed that UK leisure/waste would be sold in late 2015 but have reconsolidated
until any transaction is clearer.</b></i>

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