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Interesting article in the Times
https://www.thetimes.co.uk/article/tempus-costain-the-builders-ugly-duckling-may-fly-again-vnjk57gsx
To be fair Kate Rock and AV have bought a few last year-KR when she arrived.
But only the freebie-take from the FD. Bad form that I think.
After extensive research the trend seems to be that the chart has gone very bullish.
According to a few chartists Costain has crossed the Golden cross territory. Learnt more following this over the last week than the whole year.
Nothing but positive articles and yet still not enough to ignite the touch paper.
I do have issues that non of the board have put their hands in their pockets to show confidence.
However if we keep going up a penny a day by xmas we will be worth a few bob.
Https://masterinvestor.co.uk/equities/costain-group-is-looking-far-too-cheaply-rated/
But obviously leading to some more money coming in. long way to go for me, i did buy another £10k worth at 52 but % very poor so holding all the way. gla
Add to this that they are being more selective with orders to increase profitability and have a strong order book in hand this should be a good performer over the next few months.
Https://www.investorschronicle.co.uk/news/2023/08/23/costain-is-set-to-restart-dividend-payments/
Bought back into these in the 40s last year and have watched them oscillate in a fairly tight range since then. Good news on the dividend front and hope it will facilitate a higher rating going forward 🤞
Couldn’t agree more, top slicing is very worth while. at least a divi helps but true is still difficult against a very large sp drop. the utility, general gov investment will be high, they’ll increase anything to support infrastructure, productivity as we try to reduce debt. costain have conquered inflation by working out now how to pass it on
I've held this since 1985 .
If you ever get into a position whereby you're up around 20% or over just take some off the table .
Because this is a roller coaster your riding that most of the time is not favourable for the investor. Although the dividends at one time made it worthwhile to own this stock .
Since 2012, my initial 3,900 buy @ 264, and many later hopeful additions dashed, we may be here at last. Cheers all. :-)
I've just read the broker note, one of the interesting points they make is this...Improving the margin as planned would make the expected earnings per share 23p on 2023 earnings so assuming an industry-standard per in construction and engineering of about 8.7 (to keep it simple) and totally ignoring the 48p in cash, quite a bit more than I estimated previously is possible here with patience. I hold a fair bit now after the last few weeks battling with trading systems, possibly its turned a corner.
Happy the underlying business is doing far better, divi payments help the patience in waiting for the sp to grow
Considering the rest off the market I was expecting a little more fireworks in the price this morning .
The dividend is everything regarding this stock. Not until we get a price will we see a significant rise in the price.
Bonkers really
Long suffering shareholders remember to attend if possible and at least in advance ask your questions. I have done this. Your chance to speak!
Interim Results Investor Q&A
Costain Group PLC ("Costain") announces that Alex Vaughan, CEO, and Helen Willis, CFO, will be hosting an investor Q&A session relating to the Interim Results via Investor Meet Company on 24 August 2023 at 10:00am BST.
The Q&A session is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and add to meet Costain via:
https://www.investormeetcompany.com/costain-group-plc/register-investor
Considering its piers like Kier or Keller who trade on pe of 4-6 with lower operating margins and high net debt it looks cheap.
Conside
Its actual business is valued at zero, which for such a low margin operation is probably about right.
Share Price 48p
Market cap £132m
revenue of £664.4m (H1 22: £665.2m).
operating profit increase of 7.1% to £15.0m
Net cash at half year to £132.1m (FY 22: £123.8m, H1 22: £95.9m). (48p a share)
Resumption of dividend payments being progressed.
basic eps 4.4p
Free cash flow2 in H1 23 of £26.5m
Good visibility for FY23 with 90% of revenue (£630m+) secured3 for H2 23.
On track to meet adjusted operating margin milestones run-rate of 3.5% during the course of FY24 and 4.5% during the course of FY25.
Net profit £12m
Has to be 70p+ surely considering everything.
Looks like there are going to reinstate the dividend
Contain have enough work ,that's never been the problem . Just making sure they make profit recently has been the problem .
I believe if the order books isn't as full as before than maybe the penny has dropped to price work to actually make a decent profit rather than be awarded every contract.
Https://www.costain.com/investors/financial-calendar/
8 days to go!!!
common for ffs will this **** ever pick up on shares yet ?????
It is concerning that given no definitive bad news this has retraced back some 10% from very recent highs.
I honestly felt it would push past 50p.
Shows how much I know.