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Thanks cripes. Hope so man
Good luck lilo. I think in months to come we will look back at these prices and smile.
at the end of the day it's just best to hold on to a lot more cash in times like these. i just don't think we are done with the down side but i would defo stay away from stocks with too much debt. i should not of used word safe haven it should of been defensive stock. eg i sold a lot of stocks at a loss last week and bought TSG got most of my losses back.that has now come back down to buy range so i will do this again they are tied to gold. i am not saying this is the thing to do but it worked for me and if it works again i will be in profit in this horrible market and that's not easy to achieve for a retail investor.
Appreciate the advise guys. just bought 500 shares at 3.33 and 500 at 3.48.
There is no such thing as " safe haven " stocks IMO .....there are not going to be many businesses that are not effected in some way by this....
I remember in 2008 meltdown..I thought someone like Tesco would be fairly "safe haven" given people still buy ood....but nop....still got hit like everyone else..as it turned out
Here there must be fears of Middle East virus hit and maybe even concerns with supplies of materials needed for projects
Difficult to assess at the moment ...not easy ..
The real problem is if the bears take hold...and then there is real trouble.......a bear in a bad mood is not to be messed with !!
lilo for what it's worth i would stay away from buying anything but safe haven stocks. if the dow can drop this much and the cases of covid are low in the USA Imagine if it's get a lot worse and they call it a pandemic there is more down side. you could attempt to find bottom buts that's dangerous think of it this way the covid virus is the trigger but the impact on earnings is the bullet and it's starting to show in q4 earnings but probably will be a lot worse in q1 best to wait for a sign of a reversal but that's not easy as the Crookes will create a false dawn. and suck retail investors in.
Yep-gauging the bottom so to speak is a bit like playing Russian Roulette at present
Almost at 52 weeks low guys. Picking up cautiously a bit more.
I notice my word b...h, as in female hound,has been asterisked out. How pathetic can you get. Obviously the folk who programme this site's editing function have limited command of the English language.
All part of the prissy narcissistic society in which we live today. (Oh yes- I have had a bad day, a very bad day!!!)
Worth noting that dividend yield is at the target price if 440p, current sp if 346p is an 11% div + 27% capital raise to 440p target giving a combined 38% upside potential
Sharecast News) - Analysts at Berenberg slightly raised their price target on Petrofac's shares from 420.0p to 440.0p on Wednesday, stating the oilfield services group's bid pipeline had it back on track for growth.
Berenberg said Petrofac, which reported full-year 2019 results in line with December's trading statement earlier in the week, had "strengthened its position", having transitioned to a "more focused, capital-light business" - with cash proceeds from asset sales boosting its balance sheet and "an attractive pipeline" of future project awards looking set to return the firm's engineering construction business to revenue growth.
While the German bank acknowledged that the overhang from an investigation by the Serious Fraud Office continued to cast uncertainty on Petrofac's investment proposition, the analysts felt the group's stronger standing elsewhere offset these concerns.
Berenberg was assuming Petrofac would receive a $300m financial penalty in relation to the SFO investigation.
"Valuation remains extremely attractive, with the stock trading at five-year lows, offering a fully covered 8.4% dividend yield, and trading at 7.3 times 2020E price-to-earnings ratio," said Berenberg.
"We retain our 'hold' rating, while increasing the price target to 440p and becoming increasingly positive on the outlook for the stock."
Panic over a flu
A buying opportunity with 11% divi ...fill yer boots
Why the huge drop today ???
This doesnt help sentiment for business in the Middle East, either , at the moment
https://www.reuters.com/article/us-china-health-kuwait/kuwait-says-total-of-25-coronavirus-cases-confirmed-kuna-idUSKCN20K198?il=0
With the SFO and Unaoil and Petrofac....there is nothing more to be done but to wait ..firstly to see the outcome of the Unaoil ex-employess trial and just take things as they come.
...Not much else you can do.....it will all take its time...whatever is required ..
Not much is going to reported from the trial just yet I dont think...wait until March on that one
I think the fact that the likes of Ferrexpo and Petrofac are trading on such low p/e , is suggesting that...at present ..the market is pricing in aforward earnings recession...and that future earnings will decline...partly as a result of lower revenues and partly as a result of higher costs
I am not saying anything about earnings, one way or the other....but that is what the market is pricing...around different stock right now
I think we are talking optics, pfc have already taken steps to shore up the Balancesheet by divesting of non core assets and paying down debt.
PFC share price current trades on a pe of approx 7.5, (compare this to John Wood Group on a pe of 50), so once this SFO issue is decided one way or another i anticipate a bounce in sp driven by an expectation of increased pipeline wins in Saudi and Iraq etc. Once this has been put to bed.
Any potential fine is likely to be covered therefore through a mix of future increased profits, borrowings ,etc....
The management team need to continue to box clever as they have been doing, the longer the SFO drag their feet on bringing this to a head the more the market will become immune to its perceived threat and its significance. Case in point the recent win of $1.6 bn
I suspect the SFO will also be consious of the optics here, with Consevatives tackling Brexit the last thing they need is a SFO that damages trade prospects abroad.... in effect labelling to external markets that British firms are acti g dishonestly yet they are doing so with no proof forthcoming .....
KEPLER CHEUVREUX RAISES PETROFAC PRICE TARGET TO 450 (420) PENCE - 'HOLD'
BERENBERG RAISES PETROFAC PRICE TARGET TO 440 (420) PENCE - 'HOLD'
CREDIT SUISSE CUTS PETROFAC PRICE TARGET TO 390 (410) PENCE - 'NEUTRAL'
I bought a little at 348. I will get 5.6% dividend in 3 months time. Hope for the best
"If you create a fund for a potential fine, then I think you are sending out the wrong signal. If you believe that you are innocent, why do you need a fund?"
On the other hand if you take a cavalier attitude and consider yourself beyond reproach and DON'T make provision then when the solids hit the windmill your shareholders will ***** like hell.You may believe you are "innocent" but when you are up agin
an arm of Government always fear the worst.
Just prudent management IMHO.
Makes sense.
"Are they not concerned about a cash penalty if the SFO charges them and finds them guilty?"
1. If you create a fund for a potential fine, then I think you are sending out the wrong signal. If you believe that you are innocent, why do you need a fund?
2. Any fine would, most likely be paid over more than one year, depending on what it might be.
3. I think it is fair to say that PFC have done an awful lot to change procedures etc in light of that period , in terms of employees training, use of agents etc etc ...which will all stand well against any possible fine. These last 2-3 years are..in many senses a probation period, where it must be pretty obvious that the SFO are checking procedures etc and making sure everything is now as required.Again. a good probation period will look good, against any particular fine.
Lilo, the dividend was cut in half when the SFO announced the case. In the intervening years the debt has been cut.
All this means the company is in a better position to deal with any fine. The shocking thing is the amount of time for charges to be brought means all this activity has been forgotten
Dividend cover is x2.11 for 2019 so pretty decent
Am I missing something here ?