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WS Atkins slumps on Liberum downgrade

Mon, 21st Nov 2016 09:36

(ShareCast News) - WS Atkins was under the cosh on Monday as Liberum downgraded the stock to 'hold' from 'buy' and cut the price target to 1,600p from 1,720p after the company's first-half results last week.The brokerage said first-half fully diluted earnings per share were exactly in line, with 13% EPS growth and £3.3m debt provisions above the line.However, it cut its 2018 FD EPS estimate by 4%, mostly due to the lack of US pipeline and despite FX tailwinds.It said the performance of the group's Projects, Products and Technology business was disappointing from an earnings and cash perspective.Liberum increased its net debt estimate from £1m to £39m following a weak H1 and said the target price cut reflects lower earnings expectations, a higher pension deficit and higher debt.Still, the brokerage said there are plenty of opportunities for growth across the divisions."A strong pipeline of projects in the UK gives clear potential for Atkins. We expect this will be re-confirmed in next week's Autumn Statement. North American infrastructure is expected to be boosted by Trump's 'commitment' to spend $1tn on infrastructure during his Presidency. For Atkins, direct benefits will come from the implementation of the FAST Act in 2017."At 1015 GMT, the shares were down 4.3% to 1,504p.

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13 Apr 2016 13:30

Broker tips: Cobham, Atkins, Inchcape

(ShareCast News) - Aerospace and defence firm Cobham got a boost on Wednesday as Barclays upgraded the stock to 'overweight' from 'equalweight' in light of the recent performance. It noted the stock has significantly de-rated since a small profit warning in the third quarter and lacklustre full year

13 Apr 2016 10:14

Numis leaves Atkins at 'buy' after trading update

(ShareCast News) - Numis left WS Atkins at a 'buy' rating on Wednesday after the engineering company reported an in-line fourth quarter trading update. Atkins said it traded well through the fourth quarter and expects underlying results for the year to the end of March to be in line with views. The

13 Apr 2016 07:57

WS Atkins to meet full year expectations

(ShareCast News) - WS Atkins said it traded well through the fourth quarter and expects underlying results for the year to the end of March to be in line with views. The FTSE 250 engineering and project management consultancy said its UK and Europe business is expected to show good margin progress i

13 Apr 2016 06:37

WS Atkins Set To Meet Expectations Amid Good Second Half Trading

13 Mar 2016 15:18

Sunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters

(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda

23 Feb 2016 13:51

Tuesday broker round-up

(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr

23 Feb 2016 13:51

Tuesday broker round-up

23 Feb 2016 13:29

Broker tips: Focusrite, WS Atkins, Just Eat

(ShareCast News) - Inspired by watching a documentary about helmet-wearing French electronic music duo Daft Punk, Panmure Gordon analyst George O'Connor issued a 'buy' recommendation on music technology group Focusrite. Panmure's price target for the AIM-listed company, whose ticker code is TUNE, w

23 Feb 2016 10:10

RBC upgrades WS Atkins on medium-term outlook

(ShareCast News) - RBC Capital Markets has upgraded WS Atkins from 'sector perform' to 'outperform' on its medium-term outlook, but reduced its target price from 1,550p to 1,400p. In a note released on Tuesday, the investment bank said current trading is mixed for the FTSE 250 design, engineering an

15 Feb 2016 18:27

Monday broker round-up

(ShareCast News) - Hargreaves Lansdown: Shore Capital upgrades to buy. Antofagasta: Peel Hunt Limited downgrades to hold with a target price of 425p. Atkins: Citigroup upgrades to neutral with a target of 1160p, from 1120p. Hays: HSBC upgrades to buy with a 155p target. IAG: Bank of America upgra

15 Feb 2016 13:04

FTSE 250 movers: Fidessa and pub companies lead rise

(ShareCast News) - UK midcaps were chasing their blue chip brethren higher on Monday as bargain hunters regained confidence. By late afternoon the FTSE 250 was 1.9% higher at 15,725.05. Enterprise Inns frothed higher after investors took courage from chairman Robert Walker shelling out just over £50

14 Feb 2016 17:39

Sunday newspaper round-up: Bank funding, North Sea oil tax, HSBC, Anglo

(ShareCast News) - The European Central Bank and its London counterpart have held talks after the Bank of England raised the alarm over the potential threat of a funding crisis in the banking sector. Three senior London bankers have told the Sunday Times that their normal efforts to raise money from

12 Feb 2016 14:57

DIRECTOR DEALINGS: WS Atkins Chairman Ups Interest

10 Feb 2016 08:04

WS Atkins Trading Remains On Track Despite Headwinds In Some Markets

10 Feb 2016 07:41

Atkins remains stable despite some trading headwinds

(ShareCast News) - WS Atkins continued to trade in line with expectations in the three months from 1 October 2015, the company's fiscal third quarter, despite difficulties in some markets. According to a trading update issued on Wednesday, the FTSE 100 design, engineering and project management cons

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