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£100? AS I said at result's time the market is undervaluing SPX when the SP was 8130p. Over 18% higher now of course but I think £100 is a stick-on. Can it make £105 when it breaches the magic £100 mark?
I think the market is underestimating the update. Sales and adjusted profit are up while ok they are some concerns about growth and margins SPX have manageable debt while increasing the FY divi to 110p. Any SP is a good opportunity to add here as this will rise up in better times.
so we might see the recent high of 9500p reclaimed. I might shed some at that price after a good run up. £73 is looking mighty cheap currently.
This current quarter could be the bottom of the IP growth cycle and if so we are due a good 2020 as we motor towards 1.7% growth. At about 14% off highs it is quite possible that SPX puts on a spurt after a reassuring update. The 1.3% rise must be put in the context of an initial drop on the update so in fact after more mature consideration there was enough in the update to warrant buyers coming in.
and showing a level of underlying strength in recent sessions. Divi to be paid on the 8th so maybe some holders will elect to reinvest back in. I am quite happy to buy on dips.
Recovering again after being sold down. I averaged down again yesterday as I hope the steam will soon rise. This 3% rise better not be hot air.
as I think the recent market sell-off has hit quality stocks like SPX. I am hoping that 87 to 90 pounds can be achieved here in less volatile times but am comfortable adding at under 80 pounds a share.
And it continues...Share price hit 9275p today. On a total return basis, my holding purchased in March 2015 has almost trebled in just over four years.
And Berenberg have put out a £105.40 target price - seems very rich to me even on 2021 estimated EPS! Nonetheless, Spirax has paid a dividend since the mid 1960s and maintained or grown it each year, rising at 11% CAGR: that's a business that will grow into a rich valuation and does not stop me holding.
It hit 8400p recently.
Quietly smashing all time highs....
Sometimes the best companies have the quietest discussion boards, Ribeye!
I bought in March 2015 at 3267p and the shares are now 6915p, despite a consolidation after the 2015 special dividend. My dividends received amount to over 10% on book cost and the capital gain is 112%
...but this boards here, ii and ADVFN are just like tumble weed. Been quietly rising for a longs time now.
nicely ... mebbe IIs & analysts waking up to lower Cu prices which are highly beneficial for SPX's eps.
weakness great for SPX, more important than £/€ strength... 2015 will be a solid year, and watch that divvy edge up again (how many years is it now?)
shows strong sales, profit, build of cash... class act just goes from strength to strength, GLA (if there is anybody watching this ultra-quiet board!)
this the first post for two years... is there anybody else watching this board? PS management statement due this Fri 7 Nov. GL (anybody!)
Spirax-Sarco Engineering (SPX) Director name: Mr Nicholas Anderson Amount purchased: 1,525 @ 2,267.79p Value: £34,584
Spirax Sarco: Jefferies keeps hold rating and 2,045p target.
As regards Watson-Marlow, the improvement in operating profits was due to the planned increases in R&D and market development costs in the first half year now unwinding in the second half. The results also improved in EMEA, as the cost base in Europe is being progressively lowered and the profitability of its supply operations increased. In its trading update the steam trap and pump maker took care to stress: "Although our forward visibility remains short and we are not immune to a worsening in our markets, which can be reflected fairly quickly in our mid-cycle business, the board continues to expect the group to make progress for the full year." Net cash balances at the end of October 2012 increased to £43m compared with £9m at June 30th 2012. The interim dividend of £12m will be paid on November 9th. In a separate announcement, Spirax Sarco has acquired the business and assets of the steam speciality business of Termodinámica, based in Santiago, Chile. Termodinámica is Spirax Sarco's exclusive distributor for Chile. The total purchase consideration of 2.5bn Chilean Pesos (£3.3m) will be met from existing group resources and will be paid over the next 12 months against performance conditions being met. The transaction is expected to make an immediate small positive contribution to group earnings.
Spirax Sarco Engineering is battling away as demand remains "resilient", despite weakening global macro-economic conditions in recent months. Total sales in sterling were ahead 2% in the first 10 months of 2012, after including the impact of unfavourable currency movements and two small disposals last year. More specifically, and for the four months ended October 31st, organic sales increased 6%, ahead of the rate of growth reported in the first half year. Over the same period operating profit was 8% ahead on a constant currency basis. Against a decline of 3% for the first half of the year, this means that for the first ten months ending October 31st operating profit was 2% ahead of last year on a constant currency basis. Notably, the Asia Pacific region and the Watson-Marlow pumps business achieved strong double-digit sales growth in the period. The Americas saw a more modest advance while sales in the Middle East and Africa (EMEA) segment experienced a slight decline.
£21.58 to buy today !
just one persons opinion. spx management have a bloody good record if you look at the companies results over the years. a profitable business with niche products, decent yield .. limited downside imho. lots of worse places to invest your hard earned !
Pumps and steam processes firm Spirax Sarco gets rather short shrift from Tempus. Costs are rising and sales in Europe are, unsurprisingly, weak. Trading at 16 times earnings, the column believes the stock lacks upside. Avoid.
FTSE 250 company Spirax-Sarco Engineering is a solid business that, unusually for an engineering group, proves relatively resilient in a downturn, writes the Questor team in the Telegraph. Spirax has a hugely diverse customer base, spanning breweries to oil refineries, paper mills and dairies. The company has grown sales by an average 9pc a year over the past 25 years – even the tougher past five years it has managed an average 8pc a year. It is a hugely cash generative business, and has held or increased its dividend for the past 44 years. With that track record, the shares look cheap on 12.5 times next year’s earnings, particularly for a company that beats its peers in a downturn. A strong buy, says Questor.