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Looks like incredibly expensive debt refinancing. That shows there is still a high level of scepticism around Kier
Back in here at 127p - fundamentals look extremely good so took the US CPI as a buying opportunity, will add to my holding if it drops further
gla dyor etc
Only a few years ago the talk was about bankruptcy due to unsustainable levels of debt and higher interest rates than now due to the perceived risk. How times have changed? Given the improvements to the financial health of the Kier the SP should be substantially higher than the broker target of 210p.
Senior notes are low risk (for the lender) and carry lower interest rates. Refinancing in senior notes keeps debt interest low/manageable vs junior notes.
Anyone explain in simple terms please
Yes, let's hope this is the fuel for the rocket, added a few more
Plenty of resistance but direction of travel is up. If 130 goes, then 140, 150 and then blue skies.
Berenberg starts Kier Group with 'buy' - price target 210 pence. I always take a broker guidance with a pinch of salt but happy to see if they get this one right. Anything that can provide upward momentum must be a good thing. Time will tell. Continued good fortune to one and all. Rgds, S
Constant selling into shares (like this) trying to break out. No institutional buying to power the price higher. What do they see in the market that we are missing, or are they still just buying large cap US rather than try to pick the bones of a stone cold turkey LSE?
That is all behind them and apparently the min wage issue was a technical accounting fault rather than a deliberate ploy by them. I still believe Kier has turned (right around) the corner and is set for better times.
I will be holding my stock for more gains.
Now in small cap index , note talk of move to 250 index next month .
Large investment not looking good 7/11/22 at 57p
Heading back to my last top up 29/6/21 at 130p
I am up on this one .
BEP showing 89.54p
Main market small cap better place then AIM to gamble maybe .
Did not like some of the other information on Wikipedia.
During the early 21st century, it expanded through acquisitions, and, following the January 2018 collapse of rival Carillion, Kier was briefly ranked, by turnover, as the second biggest UK construction contractor, behind Balfour Beatty. It was then a constituent of the FTSE 250 Index. However, its share price plunged following a failed rights issue in late 2018, and by mid 2019 was suffering such deep losses that analysts considered Kier might "go bust".[3][4] After an extensive restructuring, debt reduction, cost-cutting and disposals programme, which included shedding 1,700 employees and selling its Bedfordshire headquarters and its public and private housebuilding arm, Kier Living, the company scraped back into profit in 2021.
Last of a few Controversies
In June 2023, Kier subsidiary McNicholas Construction was named for failing to pay staff the UK legal minimum wage. It was among the 10 worst offenders, failing to pay £170,517.57 to 704 workers.[
Institutional investment will come when Kier re-enters FTSE 250 index in March at the next rebalance. Together with interim dividend declaration (provided it's well covered) should see the stock price break through resistance levels.
No massive trades from Institutional investors, just staff I would suggest so far today.
The dividend level and confirmation will be the tell tale I guess............. together with interim results or trading statement .... a cautious few weeks ahead until someone gets the confidence this share is under-valued...... which it is in my opinion . GLA
A tree shake, I think. Started back up today.
At current prices Kier will automatically rejoin the FTSE250 index in March. That'll really cause some big moves up, both on the lead up to the index reshuffle and immediately after when the index funds buy up Kier,
Looks to me that 130 is a resistance level. Certainly bounced badly off it this morning. After that 140 , 150 and then blue skies.
'Fanny Willis' now got me an old Sweet song going round in my head, it's called Sweet Willy and goes "But you can't push Willy 'round Willy won't go, try tellin' everybody but, oh no Little Willy, Willy won't go home"
Expecting a bundle of asterisks there
hmmmm. now that '***' deletion does look very strange.
Now I'm intrigued. Are we allowed to discuss alBUMs and say on an unrelated note that we're invested in a company that makes knobs?
Oh, we are.
I suppose we're not allowed to mention Fanny Willis either.
seems a bit unfair on the cigarette companies too. presumably ****burns isn't very popular around these parts either.
did the system really *** out the letters f.a.g from the middle of a name? that can't help anto***asta.
citywire article:
https://citywire.com/investment-trust-insider/news/expert-view-naked-wines-sage-kier-ibstock-anto***asta/a2434373
Another good day for Kier shares. They're being tipped in the investment press as people gradually recognise the scale of the recovery here:
This is from citywire.com/investment-trust-insider/news/ today. I'll post the link but it might not work on this site. Here's the piece:
Peel Hunts sees plenty of opportunity at Kier
The investment opportunity at construction and property services group Kier (KIE) remains ‘substantial’ given the quality of the order book, says Peel Hunt.
Analyst Andrew Nussey retained his ‘buy’ recommendation and target price of 180p on the stock, which was trading at 125p on Friday.
First-half results were in line, with trading ahead of the previous period and ‘underpinned by volume growth and operational focus’, said Nussey.
The business has a focus on cash outperformance and expects to deliver a net cash position, with a ‘material’ £100m reduction in debt.
‘The visibility and momentum leave full-year 2024 well underpinned,’ said Nussey. ‘Consistent and strong management has established a robust operational platform that can deliver long-term, cash-backed growth.’
Although the shares are up 70% over the past 12 months, Nussey said the ‘investment opportunity remains substantial through cash generation, rerating, and from earnings outperformance given the quality of the order book and superior execution.’
I suspect that for the first dividend back they will wat to be very conservative, and would not want to spook market by a return to overpaying, interim will be no more than 1p and final 2p