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Unusually big fall so far this week. I have funds ready but will wait for the decline to reverse.
Looks like you have another chance today - wondering to top up again but I already have a larger than normal investment here. I am very tempted...
Alas no, manic day at work.
I hope you managed to top up Chas
If it stays like this I'll top up tomorrow as my pension lump sum is due.
I've topped up - think the price will recover later
This is the trouble with the aim market.
people just follow like sheep for no reason whatsoever.
Seems like an unusually big drop today on no news.
13-Feb-24 08:41:29 41.90 1,464,000 Buy* 613.42k
Taking a well earned breather before the next leg up. With PE ratio of just 7 this is still well undervalued. Personally i think somewhere in the region of 56p by the time the end of year results are announced. Gla Dyor
This is going to fall on news.
Lost of companies are falling on good updates as all of them have seen a run up to new release. Maybe it wrong. Dire market atm
Excellent action recently and now popping above 40p buy price. Interesting times at RNO which is doing a lot of the heavy lifting in my portfolio atm. Good luck all!
Wow, 16m gone through today, along with typically 500k to 600k each day for the majority of recent weeks. i suspect we will find out more by the end of the week. here's hoping.
all imho, dyor and bol,
RNO is in my top5 hldgs
Yes, another strong year ahead, and to be above expectations again.
Excellent results this morning
Just seen that Moram Capital has published an investment thesis on Renold - very comprehensive and detailed, to be honest. They work with several institutional investors, and many people follow them because they typically produce high-quality analyses. Hopefully, this will help more people become acquainted with the stock.
Strong update trading well and creating good cash flow.
expect to see more bolt on acquisitions in the near future.
I do believe this co is moving in a right direction. Long term would be great to see some divs too. Gla
Https://www.thisismoney.co.uk/money/investing/article-12300057/MIDAS-SHARE-TIPS-Renold-makes-chains-theme-park-rides-bikes.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_ga=2.121533384.1754595515.1689585457-560024656.1689585457&_gl=1*1v9rtv8*_ga*NTYwMDI0NjU2LjE2ODk1ODU0NTc.*_ga_XE0XLFFF16*MTY4OTU4NTQ1Ni4xLjEuMTY4OTU4NTQ3MS4wLjAuMA..
Renold has been tipped in the Mail on Sunday's Midas column.
Though check the chart where it stopped and why? Seen a few move higher after sell down on super solid news. For some what looked misserable day, it was a great chance to grab a few. So time will show. All recent trading updates where positive, and results simply proved it. Can they repeat or show even better results next year? We shall see. Gla
I am shocked at todays SP finish after what can only be described as excellent full year results.
but it appears that the BOD does not recognise that in the current financial situation that people are looking for income on their savings/investments.
by ignoring this the mr market has decided that there are better short term investments to be taken - ie guilts-bonds etc in fact almost anything .
if the BOD had given even a half a pence dividend the SP would have finished around the 40p mark today.
although i have great belief in this company i do believe that they have missed a trick today and even worse have allowed them selves to become a takeover target with the SP at such a pathetic low valuation.
Renold – a positive business momentum Buy
By HotStockRockets | Saturday 18 February 2023
Manufacturer of industrial chains and related power transmission products used in a wide variety of international industries including manufacturing, transportation, energy, steel and mining, Renold (RNO) recently announced that it “now anticipates that underlying operating profit for the full year will be above current market forecasts” and that there is a “positive market outlook”. This looks far from discounted in the current share price and, as the results and following updates make the financials picture clearer, we expect the shares to spark from here.
The latest trading update also noted “order intake running ahead of sales… the current order book of £104.1m is a further record high for the group (30 September 2022: £99.0m) providing good visibility beyond the financial year end” and “net debt at the financial year end is still expected to be comfortably below 1.5x EBITDA”. However, no bottom-line specifics were provided.
A broker to the company, finnCap, though responded by increasing forecasts – now anticipating a year-ending 31st March adjusted pre-tax profit of £14.3 million (adjusted EBITDA £30.3 million) on revenue of £238.3 million, with net debt of £37 million (equating to 16.4p per current share).
The half-year results showed an adjusted pre-tax profit of £7.3 million on revenue of £116.3 million, with current assets of £130.2 million against current liabilities of £73.9 million, with also £147.8 million of non-current liabilities (including a £61.3 million IAS19 pension deficit, down from £87.1 million six months earlier with increased discount rates) and “property, plant and equipment” 'non-current assets' of £57.3 million.
We now look for the following updates from the company to show the net cash generating capability from the positive trading here, further reassuring on the balance sheet and bringing the valuation more widely into view – the noted full-year profit forecast equating to earnings per share of 4.8p.
With reducing balance sheet liabilities, we suggest a PE of 8x can be quite realistically argued – suggesting a share price of above 38p. FinnCap argues that above 50p is now justified and, although caution should always be applied to house broker views, we can understand the argument for that. However, with even 38p currently approaching 40% upside, at up to 30p, targeting above 38p on the company’s following results and updates, Buy.
Just helped myself to 10k of these this morning, they are still the go to for high quality industrial chains and for the past 20 years I have been involved in the power transmission industry they have maintained that reputation, others have tried to pinch market share but they are so well recognised and trusted they have built a deep moat.
I can only see the need for chains and drives increasing over the next decade and think they are well placed to capitalise or worst case scenario be a buyout target for a bigger fund.