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Nice one Q!
Berenberg cuts Qinetiq price target to 440 (450) pence - 'buy'
Imo A BUY
'might stir some interest'
Sadly not today
Presentation just finished. Institutions focus was on the US acquisition Avantis and the 2 US contracts which we didn't get. They were also hard on cash flow which had bumps. To me they were making mountains out of potholes but these guys know the company better than any retail investor so these are 2 areas to look at more closely. Company points at massive increase in the global order book and surprisingly mentioned that there is stuff hidden from public view for various reasons. Nobody doubts that but I am surprised it was vocalised.
On that pont I note this on Telegram 'The British defense company QinetiQ will transfer 10 more Talon sapper robots to Ukraine. Before the start of the full-scale war with the Russian Federation, we already had 12 such assistants These robots will demine ...'
Might just get away with it
Don’t think overseas companies would be allowed to bid.?
BAE are up for buying just about anything at the moment, swimming in cash and orders and determined to double in size
Great. 5% down on meeting expectations.
Needs a takeover bid to get the price moving on this share I think. Otherwise, a good solid company.
Nothing wrong with these results. Further it confirms on track for full year forecast. Will it move the share price higher though?
It would seem that there is little enthusiasm for this company. We see many sales as buys today and no after hours trading, which does not bode well .Let's hope the pessimists are wrong.
Half-Year Results out next Thursday (16th).
Motley Fool included QinetiQ in a public review of three defence stocks today:
Short version: "...This £2bn company provides technology and services to both governments and commercial clients... The share price has risen 30% since Russia’s invasion of Ukraine, although it’s down around 4% this year.
This is despite a strong Q2, during which it improved its organic growth and profit margins. It also increased its order backlog, securing a record first-half order intake of approximately £950m.
Revenue growth has been solid, rising from £883 in 2018 to an expected £1.8bn this year (FY24). Net profit has been lumpy in that time though, which is a risk here. But it has still trended higher, with analysts forecasting £160m in bottom-line profit this year, around 3.8% higher than last year.
Meanwhile, the stock looks cheap on a P/E ratio of 12.8..."
Might stir some interest.
QinetiQ Group plc issued a trading update for its second quarter of trading this morning. The Group enjoyed strong organic first half performance and remains on track to deliver full year expectations. The business also delivered improved operating profit margin in the first half of the year compared to the same period last year and secured a record first half order intake at c.£950m. The business is on track to deliver another year of good organic revenue growth at stable margins in-line with management’s full year expectations and long-term guidance. Valuation is attractive, the balance sheet is solid. Near term momentum is lacking, but other than that the share has solid growth and profit potential and is worth knowing about for the longer run. As a defense focused company revenues should also be relatively unaffected by near term UK recession. BUY. ..
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/QQ./813
I feel 330/was the tops for today gla
Yet a further brilliant trading update. The SP should be twice what it is now. Having held the shares for last six months, they are down 11%.
Ridiculous.
JUST for a trade nice buys of late gla Really should of held just paid 8p more a share
KIND THANKS JOAUNG1
Saying it is expected to be earnings enhancing isnt giving an actual profit number… and that happens. At the moment its just a load of new revenue.
In any case lets wait for the TU, I am invested just not over enthused about their comms strategy
Sjsrace, Scored,
I’ve never seen any company state a profit on an individual contract. It’s highly subjective to fully load all the costs and overheads to 1 contract. It could be very misleading and open to manipulation. Quarterly trading update is when they announce how the company is tracking overall to targets. I think that the Q2 update is next week on the 11th.
They should be able to say if it is earnings enhancing. Clearly they need to announce the contract wins as they are material, there are no clear rules about what has to be said when.
Fact is they failed miserably to give any real detail or the impact the contracts will have on the business and the shares got spanked accordingly.
Isn’t that what the quarterly trading update is for - give an indication of performance v target. RNS for contract wins should not be giving that performance update.
I sold this morning at 311 plus so overall happy lost 27 pounds so ok . Until they provide actual profit on contracts im out . GREAT company but seems to be dropping daily
Fact is if its earnings enhancing in any future year then state that. The fact they haven’t/ can’t simply means it can only be regarded as revenue. So it could end up driving a profit or a loss depending on how the contracts play out…
So are they the lowest bidder winning the contract or have they left enough to eke out a profit? Maybe we find out in a couple of years.