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Is it true that Harsco have taken over Cape. I've been chatting to people at work and the word is Harsco have or is taken over Cape. Views please. Thanks in advance Ginna
I'd say it was so that those buyers wanting 45k, 50k, 90k or 100k of shares could buy them at a lower price!
nothing i can see
that justified a 8% drop in two hours?
Uncle Joe is just being honest. Even when winning good sized contracts you need experienced and motivated management to convert opportunities into profits and cash. Does he still have this in key areas? Time will tell, wont it!
Don't get why Uncle Joe has presented such a gloomy picture, the JV's Cape has both in the UK and Azerbajan are significant, but excluded? from the H1 results. Also rumour is they have landed at least one huge contract down under (Joe alluded to it in his interview with Reuters yesterday), at 260 or less this stock is cheap, 300 +by year end me thinks
Cape: JP Morgan takes target price from 308p to 323p and stays with its overweight rating.
Solid performance, ongoing issues reducing, JP Morgan Cazenove INCREASING their target price from 308 to 323 and the SP goes down.
Investec have re-iterated their Buy rating and target of 375.00
that Cape moved to the FTSE main market!
is very strange these days, normally large buys would increase the price but these days there seems no logic to it. Buys of 100k shares and 2x50k shares yesterday and the opening price today is below what they paid.
Another broker rating today, Canaccord Genuity advising a buy with target of 303.00
More solid progress at the start of the year. Improvements in line with expectations from previous statements. Talking to myself it seems ;)
Hence the 9.5p drop today.
I See Investec have today reiterated their buy rating with a target price raised from 300p to 375p
They seem keen to walk this back down at a couple of % per day at the moment. Bad news is well out of the way as far as I'm concerned and this belongs well above £3. Cape have a good reputation and plenty of project activity ongoing. Write-downs are out of the way and all new business is at better margins. Plenty of up-side as far as I can see so I wonder where this walk-down is taking us?
Interesting to see what happens now with this share. averaging in the low 200p's last year with optimism with the new CEO, now in the low 300p's. Expect to see further downside to this share
50k buy at 315, £157,500
one just wont stop giving :)) Now at 326P ...
Cape plc, the international provider of essential support services to the energy and mineral resources sectors, announces the award of a three year term contract, with two further one year options with an east coast pharmaceutical giant. The business is a UK affiliate of a Swiss based organisation and is one of the largest and most widely respected pharmaceutical companies in the world. This multi-discipline contract, worth approximately £10 million over three years, is a continuation of a highly successful long-term relationship based upon strong client partner relationships, innovative value for money solutions, world class operational delivery and a strong SHE and quality performance. Steve Connolly, Managing Director of Cape UK, Europe and CIS commented: "We are delighted to maintain our relationship with this pharmaceutical organisation and I would like to thank our delivery teams for their exceptional performance that has served as the platform for both parties to reach this agreement."
back to 300P :)) Said it before, this one is the come back king !!!
Cape reported a pre-tax loss of £140.1m for the year, compared to a profit of £61.9m last year. A charge for exceptional items of 150.4 million pounds was made in 2012, consisting primarily of 123.7 million pounds relating to the impairment of goodwill and assets in the continuing Onshore Australian business and 18.8 million pounds as a consequence of implementing a more prudent approach to accounting estimates. Excluding items, pre-tax profit plunged to 23.8 million pounds from 69.4 million pounds in the previous year. Loss attributable to owners of the company was 200.8 million pounds or 167.0 pence per share, compared to a profit of 47.4 million pounds or 38.8 pence per share last year. Revenue from continuing operations grew to 740.4 million pounds from 698.1 million pounds in the prior year. The directors proposed a final dividend of 9.5 pence per share for 2012, flat with last year. Looking ahead, the company expects the focus on operational excellence to deliver much improved margins in 2013 compared to 2012, albeit on lower activity levels driven by reduced new construction project awards in 2012. Despite the subdued order intake in 2012, the group maintains a robust order book, which gives good near-term visibility and the Board is confident of the outlook for the current year.
No nasty surprises in the results not already priced in from the previous warning. Margins for 2013 set to improve. Dividend maintained. Looks very much like the worst is over and today's rise on results indicates the bottom has come and gone. I would think this can go up over 300.00 quite easily.
Shorters starting to buy back from the january high........ http://www.efinancialnews.com/get-data-explorers?Source=SF&Version=1.0&Days=90&Field=Quantity&IdType=ANY&IdValue=ciu&ChartType=Line&ChartStyle=Default&ChartTemplate=TwilightTemp2&Width=300&Height=200&Url=https://api.dxopen.com/DxlApi/Chart.aspx
Shares were down 1.56% to 220.50p at 10:00 Friday.