Hunting Share Price (HTG)

There's a fabulous Buy Signal developing here this morning ...Potential 20 p move North ..Well see

Absolutely no need for the drop in SP after this update. All looks good here, not selling.

Link to report here: https://www.equitydevelopment.co.uk/research/on-track-to-deliver-further-progress-in-fy24

Commentary and financial metrics in Hunting’s AGM/Q1 update confirm that the company has progressed in line with its FY24 targets thus far in year-to-date trading. Q124 EBITDA was well ahead year-on-year. This represents a good step towards the flagged US$125m-135m range for the year, with ongoing momentum in the strongest market segments.

Group revenue has continued to grow well, being up c.16% year-on-year in Q1 and c.7% ahead compared to Q423, a strong quarterly close to FY23. Shipments against previously disclosed large contracts in the OCTG and Subsea product groups and broad business development in Advanced Manufacturing have been the primary drivers in generally firm underlying markets.

While the group order book has nudged c. US$21m lower than the year end position as larger orders are worked through, US$544m on hand at the end of March still represents a strong position in a historic context. We are also aligned with management expectations for inventory positions unwinding over the remainder of the year.

Updating our P/E and DCF methodology for market movements (including £/US$1.25) now yields a blended fair value for Hunting of 436p / share: up from 407p and over 20% above the current share price.

Holding up well and interesting news from Wood Group today... Major investor recommendation to list in US as the stock remains undervalued. Same could be said for htg

Wow! The only one of my shares that goes ex-div today and hasn't dropped dramatically.