Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Current forecasts are 13.2p EPS this year rising to 14.1p EPS next year - a P/E of 6.5, falling to just 6.2.
And here's good news re the new Climate Solutions division:
Http://www.tclarke.co.uk/news/tclarke-climate-solutions-partner-status-achieved-with-mitsubishi
"TClarke Climate Solutions : Partner Status achieved with Mitsubishi
Posted: 08th August 2018
TClarke Climate solutions are pleased to announce we have achieved Business Solutions Partner status with Mitsubishi Electric within our first three months of trading. This is a great achievement and will enable us to meet the criteria set out by many of our corporate & commercial clients, we look forward to working in partnership with Mitsubishi and continuing to further develop our relationship.
Download our climate solutions brochure >"
The mid-price is up to 88.3p now - I assume after the 100,000 share buy at 87p earlier today.
Would like to see some more brokers giving a recommendation but it has nver happened in my memory. Could help a lot.
Nice start - the mid-price is now up to 87.6p.
As regards the order book, N+1 Singer pointed out that at £370m it's "well above the long term average of £282m".
And we know that this is despite CTO's cutting out lower-margin and lower quality work.
The share price is ridiculous when you think that forecasts are for 13.2p EPS this year, rising to 14.1p EPS - and at this rate are likely to be beaten.
Plus CTO have a healthy cash pile.
Plus already fully secured revenues for this year and already 50% for NEXT year.
Yep. Expect a holdings RNS from one our big boys soon.
In this case it appears there is a large buyer in the background happy to absorb lots of stock within the spread...
I often wonder why MM's keep the quoted spread so wide when the spread they will actually deal at is much smaller. It discourages business. Of course sometimes that is their intent as they are working a large order and are deliberately holding the spread wide as they only a one way order flow to balance their books.
Today it's 85ish to sell, well within the spread but if you want to buy they want very close to the full offer. It suggests to me the MM would prefer you sell rather than buy. Of course if they raised the offer to 85, they might get more sells to balance their book but it might also appear that the price is rising and encourage more buying = the opposite of what they want.
Too many times I've waited for the headline spread to close and watched the price move away from me. These days if I see a price I like I execute the trade. I don't always get the best price but I've found I have less regrets
Checked for a live bid price.
The spread is nothing like it is being shown as on the 3 sites I have checked, a big spread always deters me and probably others from buying.
Haven't been able to find N+1's recommendation. Please tell where you got it.
Press reports tomorrow with any luck.
N+1 Singer are very positive, with a 104p share price target which they say could be exceeded.....
"Shares attractively valued
In our view, TClarke is overdue a re-rating. The shares trade at a substantial discount to peers (33%-35% on a P/E basis), despite maintaining earnings forecasts (9% and 7% EPS growth forecast), strong earnings visibility and an attractive yield at 4.4%. We believe a sector rating is justified - a blended average of peer group multiples implies a share price of 104p. We believe the shares could exceed this level as EPS and order book growth is delivered."
Yep. Strong results. If construction wasn't such an ugly duckling in the eyes of the market these days we'd be well over 90p IMO.
Excellent H1 results, strong cash flow with the cash pile up to £4.7m, revenues already secured for this year and 50% for next year, strong order books, all regions now performing well....very good indeed.
And further confirmation that expectations will be met, being "revenues of £300 million, underlying operating profit £7.8 million, underlying profit after interest, but before tax of £7.0 million and underlying EPS of 13.2p".
With 7.06p EPS already achieved in H1, there must be a strong likelihood that forecasts will be beaten, perhaps even strongly.
Both Miton and Diverse have been rejigging their porfolios quite a lot recently. It also seems that Regent may be buying the shares directly from both, though we can't be sure.
It doesn't concern me, really. I think the FD buying tells us far more than a couple of kindred funds selling.
.
Wasn't that 200k a sale? Another 140K followed. Couple of big funds also reducing very recently.
I would like to agree with your optimism but with two big funds selling and now this.......?
Just hope these people haven't heard something that we don't know. Can't find anything myself.
200,000 shares just reported at 81.2p. Perhaps the closure of an/the overhang? About time too if so!
Interims on Tuesday 7th August. Worth re-reading the mid-May AGM statement, notably "the planned Group revenues for 2018 have now been secured":
"We are pleased to report that we continue to expect revenues and profits for 2018 to be in line with current market expectations. To put those in context for the year ending 31 December 2018, these are forecast to be revenues of £300 million, underlying profit before tax of £7.0 million and underlying EPS of 13.2p. We also expect to maintain our trend of underlying positive movement in net cash year-on-year.
Our forward order book has been replenished and as at 30th April 2018 stood at £368 million, increasing from £337 million as at 31st December 2017. Encouragingly, we are seeing no lack of opportunities, but we maintain a strict policy only to bid for projects that meet our internal risk analysis and where we are comfortable with the covenant and market reputation of the contractual counterparty.
Overall, the planned Group revenues for 2018 have now been secured with some capacity in the North West and Newcastle businesses to address. Future secured revenues are £145 million for financial year 2019 and £40 million for years 2020 and beyond....
....Once again, TClarke has made an excellent start to the year and the Board looks to the future with continued confidence."
Regent Gas continue to buy - they now have 4.18%, or 1.75m shares. They've bought another 310,000 shares since their last disclosure:
Https://www.investegate.co.uk/clarke-t---plc--cto-/rns/tr-1---notification-of-holding-in-company/201807191511282114V/
I agree with the optimism about Directors’ purchases. There seems to be chart support about 80 pence and the fundamentals inc PE and PEG look good. For these reasons I was surprised to see that Miton and kindred Diverse Income have reduced their holdings.
Agreed, usually find there is a nice 10p+ rise up to report, due Aug 7th this year. Just bought back in this morning, Thought it might start to move up next week - - but probably down a bit first now I'm in!.
Trading update on May 18th was reassuring.
All the signs are there for a big increase in share price IMO. Two directors are buying shares. AGM states CTO have had an excellent start to the year. Order book has seen a nice increase. Profits growing, debt reducing, PE ratio reducing, yet the share price is not moving. It's only a matter of time until this share gets noticed and we all see some nice returns. GLA :)
The AGM statement stated CTO had had an "excellent start to the year". With order books up almost 10%, plus the FD making unusually large share purchases, the odds are that the results in a month's time will be very good indeed.
Balance sheet healthy, fundamentals sound, nice to have the director purchase as confirmation that all is well.
Lovely £100k director purchase...
For the record, here's N+1 Singer's take on the AGM statement - for the record, they go for 13.2p EPS this year and 14.1p EPS next year (with 3.7p and 3.9p dividends respectively): "Positive order book momentum provides a share price catalyst N+1 Singer view T Clarke�s AGM statement confirms positive order book momentum and reiterates full year expectations. The order book has risen from �337m at the last year end to �368m at the end of April, which is impressive, given T Clarke�s disciplined approach to tendering. With current year revenue forecasts now fully covered, we expect today�s update to be very well received. In our view the shares are overdue a re-rating, currently trading at very modest multiples of earnings (6.1x P/E with a 4.6% dividend yield). Positive AGM update For the full year, revenue and adjusted PBT are expected to be in line with our forecasts (�300m and �7.0m respectively) and net cash is expected to continue its trend of year on year improvement (we are forecasting �13m at Dec �18). The statement also highlights strong growth in the order book, which at 30th April stood at �368 million,increasing from �337 million at the end of December. Encouragingly, T Clarke is seeing no shortage of opportunities but as ever, management is applying a strict policy of only bidding for projects that meet its own internal risk analysis criteria. In this context, the significant growth in the order book is particularly impressive. Management announced a 3% operating margin target at the time of the prelims in March (current year forecast 2.7%) and we would expect the growth in the order book to be consistent with this ambition. The order book growth is broadly based but Newcastle and the North West both have some capacity to fill. Since the last announcement on 27th March, T Clarke has won several important projects, including electrical infrastructure resilience works for BAE Systems and fit out work for Cancer Research at the International Quarter, Stratford. It has also won electrical infrastructure work at Battersea Power Station. Separately, Tony Giddings has resigned as a non executive director. As a result, Mike Robson will become Senior Independent Non-Executive Director and Peter Maskell will chair the Rem. Comm. Impact on earnings & valuation We make no changes to our forecasts, noting the positive outlook commentary. As well as providing excellent visibility for the current year, which is now fully covered, the order book also includes �145m of revenue secured for FY19 and a further �40m beyond that year. We believe the Group is well on track to achieving its margin targets, particularly since the underperformance of Central and South West (loss making last year) has been addressed."
Hello - 46,000 shares bought in the last few minutes, and suddenly things are happening..... There's a terrific report of the recent AGM here: https://www.stockopedia.com/content/tclarke-cto-overlooked-intelligent-building-provider-365804/ APAcquisitions, you are correct - if you strip out the cash pile then the P/E is likely around 4.5 or so. The cash pile is lower at the interim stage at some �2m-�3m from memory as there's some cyclicality, but even if you take a yearly average cash pile of say �7m then that's pretty material against a �36m m/cap.
Am I right in thinking that if you strip out the cash pile the adjusted p/e is about 4.5?