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Https://www.pbctoday.co.uk/news/energy-news/costain-4bn-carbon-capture-project/138026/
Well we didn't have to wait long for what is hopefully the first of many. Sizeable win and that forward order book is getting fuller by the day.
https://www.lse.co.uk/rns/COST/key-partner-for-landmark-carbon-capture-project-r5rrbproj5oa3tf.html
Roguemale,
Most people on here would agree with your comments.
It needs to be a quid minimum. 80p doesn't pay for 4 years faith and patience. Dont fprget long term IIs are sitting on a high old average and a rights issue. I would hope they agree that it needs a new CEO first,- a bit of action and this would be more than that without a takeover..
Many thanks...I wasn't able to listen.
I too think it’s a bid target.
The analyst call was embarrassing with how many asked about dividend/excess cash.
Their response was also warm to the idea of a takeover.
You never know. 80-90p could snatch it.
There was a good question in the Q&A Eusabius which you might have missed at 17mins and 45secs.
Can you give us some idea when we might see some contract wins. We've seen some contract wins from Kier and Galliford Try. What cadence of RNS's do we expect to see between now and next results?
Alex Vaghans reply "Yeah a very good question. We've obviously made some announcements on some wins, this year, or last year which has been really pleasing. We expect to be making further announcements. Over the next 6 months we should be making announcements around Energy and the progress we are making, around AMP8, water and building on the success of the Northumbrian water win that we had at the begining of this year, and also then rail and looking at some of the projects we are tendering on at the moment and the fact that we are in the procurement cycle on those. We would expect a number of announcements to come through. I think its also.., one of the other things that we are good at is that we unlock opportunities from the frameworks that we have already secured. We've got a large number of frameworks that we have secured. We are every single month unlocking opportunities from those which we don't publicly disclose, so contracts for people like for Transport for London, for Heathrow Airport.. people like that, we are unlocking that. But to come back to your question you can expect as we come through the next 6 months to see a number of awards coming through
I managed to get an ISA top up today as I have this as one of my number one bid targets due to it being highly profitable, having visibility already over such a strong forward order book, and of course all that cash.
The Divi indeed. Clarity on early pension fund sort out needed, and that won't be until June July probably based on previous.
A large holder on advfn board makes some very good points if you are on there.
Ha-ha, though given the size of some of the trades this week, I wouldn't be surprised to see a holdings RNS.
Opps, my mistake, I must have been looking at Chrysalis Investements
Ignore my last message.
There is no RNS about JTC Employer Solutions Trustee Limited selling
THE divi thats the problem . After the results thought to myself 63 iwill be hit again .
Simply Wall Street has fair value of £1.22. What is going on?
JTC Employer Solutions Trustee Limited has been selling, could help explain reluctance of share price to move northwards.
See TR-1 from today.
Couldn't rule this out, given analyst call tone and this in the results: "...identified surplus capital is returned to shareholders through share buy backs or special dividends "
Dropped 13% from Tuesday open, earlier today. By far the worse reaction to any within the sector. Unwarranted in my view.
Like most small caps, this could now just go to sleep until the next results are out......I hope not!
Very pleased with that.
Will look to add and build my ISA position and do the same with next years ISA allowance to.
I am hoping that some of the analysts participating caught the number of times the word 'undervalued' was used.
Up 10% - that should push up the sector as the market leader. Very encouraging.
Buy and forget, this is a no brainer imo. I did the same with KIE in 2022. There is too much cash to ignore in this one. Water is where the easy money is. Gla
For what's it's worth, Investor's Chronicle think the valuation is off too:
https://www.investorschronicle.co.uk/news/2024/03/12/costain-remains-undervalued-despite-revenue-visibility/
Happy to keep adding until fair value reached.
It makes for an interesting presentation tomorrow.
I'll set my alarm clock to listen in.
Looking ahead, the company said its expectations for "further progress" in 2024 remain unchanged, as it held on to guidance of an adjusted operating margin run-rate of 3.5% during the year, rising to 4.5% in 2025. Its longer-term ambition to grow margins to above 5.0% still remains.
"The quality and balance of our forward work across our two divisions gives us good visibility on future revenue and margin," Vaughan said.
All this from sharecast is what I see. Solid. Just needs to break channel and head up to that 70-75p range first.
In order for Costain to trade inline with the valuation of Galliford Try, Costain shares would have to rise to 82p. Inline with Kier Group to 1.05p. And inline with Balfour Beatty to 1.25p.
Exactly that m007j and it is an easily identified takeover target.
Can you name me any other listed company in the UK that actually makes more Profit per year than the actual difference between its balance sheet cash and its market capitalisation.
Once the results are fully digested you would expect COST to rerate higher and to become more in line with its peers.
Costain is the cheapest in the UK construction sector on a EV/EBITDA valuation basis at the current share price of 69p.
Costain.....................0.5x
Galiford Try..............1,2x
Kier Group................2.4x
Balfour Beatty..........3.5x