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Share Price Information for Chemring (CHG)

London Stock Exchange
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Share Price: 374.50
Bid: 377.00
Ask: 379.50
Change: -6.50 (-1.71%)
Spread: 2.50 (0.663%)
Open: 382.00
High: 382.50
Low: 374.50
Prev. Close: 381.00
CHG Live PriceLast checked at -

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Berenberg ups target price on Chemring

Wed, 08th Jan 2020 10:20

(Sharecast News) - Analysts at Berenberg hiked their target price on aerospace and defence firm Chemring from 200p to 235p on Wednesday, stating the group's recent full-year results had provided further evidence of the "improving quality and momentum" of the business.
Berenberg said the strong growth in underlying revenues and profits, as well as solid operating cash generation, bode well for the firm's medium-term outlook - supported by a strong order book and upside from US programs of record.

The German bank highlighted that the "strong financial performance" had "rightly" driven a re-rating of shares, which were up by 22% over the past three months and outperforming the pan-European defence sector average of 6%.

"Shares now trade on 17x 2021 P/E, which is a 20% premium to the pan-European defence sector. We view this valuation as relatively full, preventing us from turning buyers, but would use any pullback as an opportunity," said Berenberg, which kept its 'hold' rating on Chemring unchanged.

Berenberg also trimmed its earnings estimates by 1-6% over its forecast period to reflect updated sales forecasts and a 40-50 basis point cut to operating margin due to mix and higher central costs.

The analysts' cash flow estimates were also lower due to higher capex given some underspending in 2019, which together with the recognition of £7m of finance lease liabilities related to IFRS 16 meant its net debt estimate rose to £83m in 2020 versus its previous estimates of £67m-76m for 2019.
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1 Jul 2022 07:23

Serious Fraud Office closes investigation into Chemring subsidiary

(Sharecast News) - Advanced technology products group Chemring said on Friday that the UK's Serious Fraud Office had closed its investigation into the activities of its Chemring Technology Solutions subsidiary and associated persons.

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8 Jun 2022 11:32

Reino Unido pierde recurso judicial contra orden de la UE de recuperar millones en ayudas públicas

Por Foo Yun Chee

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8 Jun 2022 10:57

UK loses court challenge against EU order to recover millions in state aid

BRUSSELS, June 8 (Reuters) - Britain on Wednesday lost its court challenge against an EU order to recover millions of euros from the London Stock Exchange, ITV and other multinationals that benefited from an illegal exemption in a UK tax scheme.

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8 Jun 2022 10:43

Berenberg raises target price on Chemring

(Sharecast News) - Analysts at Berenberg raised their target price on technology products and services group Chemring from 360.0p to 420.0p on Wednesday, stating the firm's "strong" first-half performance had highlighted underlying momentum.

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8 Jun 2022 10:12

Chemring half-year revenue and profit rise as Roke unit delivers

(Alliance News) - Chemring Group PLC on Wednesday posted a higher first-half profit as its technology provider Roke achieved double-digit growth in orders.

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8 Jun 2022 09:40

Chemring interim profit, revenue rise; 2022 guidance backed

(Sharecast News) - Defence technology company Chemring posted a rise in interim profit and revenue on Wednesday and hiked its dividend, as it backed its expectations for 2022.

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8 Jun 2022 09:36

LONDON BROKER RATINGS: Kingspan, PensionBee started with buy ratings

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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6 May 2022 09:47

LONDON BROKER RATINGS: Downgrades for Centrica and Rathbones

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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11 Apr 2022 16:49

Sector movers: Inflation worries drag on stocks, Defence issues wanted

(Sharecast News) - Cyclical issues fared worst at the start of the week amid ongoing heightened concerns around the war in Ukraine and its potential duration.

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6 Apr 2022 08:36

IN BRIEF: Chemring Chair Forster also becomes Vesuvius chair

Vesuvius PLC - London-based molten metal flow engineering - and Chemring Ltd - Romsey, Hampshire-based technology supplier to the aerospace and defence industry - Both announce Chemring Chair Carl-Peter Forster will become chair of Vesuvius on December 1, after joining its board on November 1. Current Vesuvius Chair John McDonough steps down from the board on December 1.

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25 Mar 2022 09:46

LONDON BROKER RATINGS: Next and B&M raised; British Land cut to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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24 Mar 2022 16:02

UK dividends calendar - next 7 days

Friday 25 March 
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Monday 28 March 
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Tuesday 29 March 
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Wednesday 30 March 
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SDCL Energy Efficiency Income Trust PLCdividend payment date
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15 Mar 2022 16:49

DIRECTOR DEALINGS: Indivior chief HR officer sells; Volex COO buys

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Tuesday and not separately reported by Alliance News:

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10 Mar 2022 10:00

LONDON BROKER RATINGS: Barclays upgrades Great Portland and CapCo

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Tuesday afternoon:

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6 Mar 2022 13:00

Sunday share tips: Chemring, Keywords Studios

(Sharecast News) - The Financial Mail on Sunday's Midas column told readers to 'buy' shares of Defence outfit Chemring, arguing that the tide was turning for the sector as a whole due to heightened geopolitical tensions.

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