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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Speedy Hire Share Chat (SDY)



Share Price: 55.50Bid: 55.00Ask: 55.50Change: 0.00 (0.00%)No Movement on Speedy Hire
Spread: 0.50Spread as %: 0.91%Open: 55.00High: 56.50Low: 55.00Yesterday’s Close: 55.50


Share Discussion for Speedy Hire


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peabop
Posts: 6
Observation
Opinion:Hold
Price:57.00
RE: Results
Tue 10:11
I’m still looking for the core Hire like-for-like percentage. Every other metric studiously declared, but all we know is that it “increased” - I assume if it was a decent increase, they would have been shouting about it.
Also, “like-for-like” is a bit of a way of muddying the water. I assume absolute core revenue isn’t up in the UK business. Again, they would be shouting about it if it was.
I’m not negative on this, but there doesn’t seem to be a desire to grow the core business, which would make a lot of their restructuring problems go away.
I know the market is difficult, but it is for competition too, and aside from HSS, everyone else seems to be doing a decent job of finding growth.
Good news is they have a great opportunity to return funds to shareholders when they realise their gearing is substantially lower than peers.
Shareholders are being patient for now, but how much longer do they have to wait for the group to use Other Peoples Money to find some growth, and return some expensive equity - the dividend doesn’t really touch the sides.
I don’t believe they can claim to be the ‘leading’ UK Hire business with A Plant and Vp both as large, if not larger.
 
rumbers2
Posts: 4
Off Topic
Opinion:No Opinion
Price:56.50
Results
Tue 09:20
Peel Hunt lifts price target to 65p from 60p.
noheart
Posts: 16
Off Topic
Opinion:No Opinion
Price:56.50
RE: Results
Tue 09:15
This time last year Liberium (house broker) & Peel issued buy notes and target prices of 49p and 50p. Shares reached that level fairly quickly (from 40p)

Add N+1 Singer also targeting 63p and I'd be confident that shares will exceed 65p by mid December then mark time for a while.
noheart
Posts: 16
Off Topic
Opinion:No Opinion
Price:56.75
Results
Tue 08:40
Upsides

Nice increase in dividend. Total dividends of 1.5p will support the shares.
very strong balance sheet. Tangible book value per share around 36p
Full year adjusted EPS should be around 3.5p

Downsides

To really get the share price zipping upwards we need to see some organic growth in core business, ideally alongside some more bolt on acquisitions.
Lets hope this is the last time we see 'significant exceptional items.

Was it a missed opportunity with Brandon Hire ?
Possibly, but the adage 'never buy anything from private equity sellers' may apply.
Presumably waiting for HSS to die and then pick what they can out of the carcass.

Full year PE ratio is around 16, scope for 15-20% increase in share price in next 3 months.
rumbers2
Posts: 4
Off Topic
Opinion:No Opinion
Price:56.75
Results
Tue 08:35
Liberum ups target price from 62p to 71p.
However I am mindful of peabops comments that core revenue stream is not growing. Perhaps market is giving SDY the benefit of the doubt in view of the current Brexit uncertainty.
noheart
Posts: 16
Off Topic
Opinion:Strong Buy
Price:54.25
Results
Mon 18:49
Topped uk £24k today at 54.9

Fingers crossed that results announcement is as good as I think it’s going to be.
peabop
Posts: 6
Observation
Opinion:Hold
Price:54.75
RE: Going nowhere fast
Mon 15:35
I think they’re becalmed because the underlying rental revenue isn’t growing. Let’s see tomorrow, but I expect a lot of the growth will come from secondary revenue streams - consumables, fuel etc.

Compared to AHT and Vp., it doesn’t look like they’re growing the core. Efficiency will get you so far, but you can’t keep growing profit by earning the same amount from an increasingly tight overhead.

They don’t really talk to a ‘rental’ number (or at least haven’t to date) so let’s see.
noheart
Posts: 16
Off Topic
Opinion:No Opinion
Price:54.50
RE: Going nowhere fast
Mon 10:23
in fairness they have been utterly becalmed for the who of this calendar year.

My view is that operationally they are doing very well and should be up rated however against that is;

Construction sector looks likely to slow
HSS hangs over the sector like a lead weight - that business is effectively worthless but could prove disruptive in its death throws.

Still post half yearly results has typically been good for speedy hire.
Kentish
Posts: 1
Off Topic
Opinion:Buy
Price:56.50
RE: Going nowhere fast
10 Nov '17
With the half year results due next week I think some doubters will be proved wrong, expect good things this time round I feel!
Maccaroo
Posts: 1,154
Off Topic
Opinion:No Opinion
Price:56.00
Going nowhere fast
10 Nov '17
This share was 36-25p @15-NOV-2016 and 60-00p @ 1-JUN-2017 so how can you say it is doing almost nothing?




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