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Brokers trade history bit of a mess with the non tradable / rights in out in out .
Mistake with numbers sold 80 more then planned, eating into previous buy a little.
Sold before at 83p on 28/5/2020 must of been to fund the rights non tradeable booked 21/5/2020
Sold a tranche at 84p up 5.33% up today .
It's breaking out big time
Its nice to see it breaking through the 80p barrier. Just needs to hold it and build further confidence.
And these guys today .
Above 79p today.
https://www.fool.co.uk/2024/04/22/2-overlooked-cheap-shares-im-tipping-to-eventually-soar/
Some say theirs the kiss of death .
I have had these years .
Above the rights 9 /7/20 @ 62p
Thanks very much Roguemale1 for this. . .
I also found this very truncated version:
"The Sunday Times's Lucy Tobin judged construction and engineering group Costain's shares to be a 'buy. Yes, the outfit was "vulnerable to "the ebbs and flows of contract-awarding mandarins," she said. But over four-fifths of its sales for the current year had already been booked and according to its boss, Alex Vaughan, the value of that was nearly three times 2023's earnings.
The company had also "dramatically" cut its pension fund contributions. Furthermore, the shares were trading on just five times earnings for 2024. There was also a relatively small difference between its £164m of net cash on hand and its £217m market cap. Tobin said that was proof of the shares' good value". END
I'm still on hard copy! But with thanks to someuwin across the road.
The City has noticed, to an extent: Kier and Costain’s shares are 20 per cent higher than at the start of the year; Balfour Beatty and Galliford Try are up about 7 per cent. But they’re still a long way from their past peaks. Costain, for example, is now trading at 75p, less than half its pre-pandemic share price of 194p, while back in May 2019, its shares changed hands for £3. Since then, the firm, founded in Liverpool in 1865 has been punished for booking expensive charges for badly priced energy and road contracts, and diluted by a £100 million rights issue at the start of the pandemic, required to secure the balance sheet.
But Costain is a vastly improved outfit from the housebuilder it was long ago. It has been transformed into an infrastructure contractor with tentacles in many a sector. It works with most of the major water suppliers on pollution-kerbing upgrades, with National Highways, Transport for London and National Rail, on the government’s contracts to decommission first-generation nuclear sites, and in defence. Costain looks poised to benefit from the UK’s likely Labour-led investment in more infrastructure projects. As Joe Brent, head of research at Liberum, explained: “We are optimistic about the outlook for infrastructure and believe Costain is the purest trade on this theme.”
Last month, the firm posted a 10.5 per cent rise in adjusted operating profit to £40 million for 2023. This year, more than 80 per cent of its revenues have already been booked. Chief executive Alex Vaughan pointed out that the value of this is about three times last year’s earnings. This confidence helped Costain bring back its annual dividend. Its cashflow is smoother due to recent cost-cutting tinkering: for example, its pension fund contributions were dramatically slashed following a review last year. Net cash stands stronger at £164 million, from £124 million a year ago. The relatively small gap between those cash reserves and Costain’s £217 million market capitalisation hammers home its good value.
Of course, the firm remains vulnerable to the ebbs and flows of contract-awarding mandarins, as has been seen with HS2. But analysts predict its pre-tax profit will exceed £52 million next year, and Costain’s shares are trading on just five times earnings for this year. It has a packed order book of blue-chip customers and has rebuilt its reputation: Buy Costain."
Roguemale1 - Are you able to paraphrase the article at all, as a link won't work for us 'non-subscribers'!?
I'd be very keen to the rationale for the recommendation. . . .ATB
I hope it does better than some of her recent offerings!