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Friday newspaper share tips: Sell as Amec Foster Wheeler faces more pain

Fri, 06th Nov 2015 11:43

(ShareCast News) - Traders should sell shares in Amec Foster Wheeler as the company prepares for the long haul, according to The Telegraph's Questor.The oil and gas engineering services company announced on Thursday it was cutting its dividend by half and lifting its cost-savings target from £120m to $180m by 2017 amid tough market conditions.Questor, which downgraded the stock to sell in March, noted that with oil prices over half the value of what they were last year and with future profits and revenues uncertain, oil services companies can't afford to pay out high dividends as they used to."With prices lower for longer and spending by oil majors having been slashed, Amec is preparing for a prolonged slump," it said.While the shares don't look too expensive trading on 10 times forecast earnings, falling revenue and rising debts mean it could be a trap. But the key problem Questor says Amec Foster Wheeler has, among other players in the industry, is the lower spending from major players."With no clear sign of a recovery in the oil price and the possibility of more pain to come, that [sell] recommendation remains."In the pharmaceuticals sector, The Times' Tempus is keeping a close eye on AstraZeneca.The FTSE 100 pharmaceutical company's third quarter revenues were hit by foreign exchange woes, but the company upgraded its revenue outlook for the year and beat expectations for earnings per share.Tempus said the company still faces a "patent cliff" over the next couple of years as new drugs start to lose exclusivity, however the latest financial figures give reason to be optimistic.It said the company should be able to weather the storm and provide a good income to investors until its new drugs reach the market. For that reason, Tempus recommended it as a good long term buy.
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26 Aug 2016 15:58

Broker tips: CRH, Amec Foster Wheeler, BAE

(ShareCast News) - Societe Generale downgraded its recommendation on building materials group CRH to 'hold' from 'buy' following the stock's outperformance. The bank said CRH's equity story is still attractive, but after the 31% year-to-date outperformance versus the broader market, the medium-term

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26 Aug 2016 10:21

Morgan Stanley ups Amec Foster to 'overweight'

(ShareCast News) - Morgan Stanley upgraded Amec Foster Wheeler to 'overweight' from 'equalweight' and bumped up the price target to 700p from 500p saying restructuring should outweigh disposals. The bank attributed the price target lift to increased confidence that the new CEO will drive a better ea

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26 Aug 2016 07:07

LONDON BRIEFING: All Eyes Turn To Fed Chair Yellen's Speech

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23 Aug 2016 09:19

Tuesday broker round-up

(ShareCast News) - Ithaca Energy: Barclays reiterates underweight with a target price of 70p. Mediclinic: JP Morgan maintains neutral with a 1160p target. Premier Oil: Barclays reiterates overweight with a 100p target. South 32: Jefferies reiterates hold with a 110p target. Mondi: Citigroup keeps

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23 Aug 2016 08:22

BROKER RATINGS SUMMARY: Jefferies Upgrades BHP Billiton To Buy

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16 Aug 2016 16:01

LONDON MARKET CLOSE: End Of Eight-Day Rally Despite Higher Oil Prices

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12 Aug 2016 09:36

Friday broker round-up

(ShareCast News) - Britvic: Berenberg reiterates buy with a target price of 775p. RSA Insurance: Deutsche Bank maintains hold with a 525p target. GlaxoSmithKline: JP Morgan reiterates neutral with a 1900p target. Amec Foster: Goldman Sachs stays at buy with a 691,1p target. A.G. Barr: Berenberg d

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10 Aug 2016 08:35

BROKER RATINGS SUMMARY: Panmure Raises RSA Insurance To Buy From Hold

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9 Aug 2016 19:10

Amec Foster Wheeler leads gains among oil equipment and service stocks

(ShareCast News) - Oil equipment and services stocks saw another day of gains, with shares in Amec Foster Wheeler spearheading the advance in the wake of its latest interim figures. Amec reported higher sales and lower earnings in the first half of the year which were better than the market expected

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9 Aug 2016 09:43

WINNERS & LOSERS SUMMARY: Worldpay Bid Up After Strong First Half

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9 Aug 2016 09:01

EXTRA: Amec Foster Wheeler's Underlying Results Beat Expectations

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9 Aug 2016 08:38

Amec Foster Wheeler beats first-half forecasts, review due in autumn

(ShareCast News) - Amec Foster Wheeler's higher sales and lower earnings in the first half were better than the market expected, while the engineer also impressed with cost cutting and its continued expansion into renewable energy. Revenue in the six months to 30 June of £2.8bn was up 7% on the same

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9 Aug 2016 06:51

Amec Foster Wheeler Turns To Loss Despite Managing To Lift Revenue

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12 Jul 2016 07:18

Amec Foster Wheeler wins two contracts with Repsol Sinopec

(ShareCast News) - Amec Foster Wheeler said it had won two long-term major services contracts as part of Repsol Sinopec Resources UK's long-term transformation and commitment to the North Sea. Both contracts are for an initial three-year term with up to two one year extensions. The new contracts ar

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12 Jul 2016 06:40

Amec Foster Wheeler Wins Two Maintenance Deals In North Sea

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