Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
pimpin, will go for �30 based on the following: Historical H1to H2 earnings weighting: FY 12/13 +1% FY 13/14 +4% FY 14/15 +63% FY 15/16 +82% FY 16/17 +79% Taking even a 5 year average (+45%) thats a forecast year end (assuming H1 is c 94p) eps of 230, so a PE of only 9. Even worst case with zero growth it�s still only on a PE of 11 and a PEG of 0.1. Still very cheap IMO, with a 5 year average PE of 13, eps 17/18 of say 230p, then sp target 2990. DD
Ronjoe - No probs and thanks but most brokers seem to be behind the curve!. This is just struggling at the moment to break and hold above 1940 resistance. Matt - Have replied on BVXP and thanks again. DD
Thanks Matt for your views on this, much appreciated. As you say a hold at the moment rather than a buy, will keep watching and will probably tip my toes in if it dips. All the best and well done on getting in here at �8! :) DD
Morning Ronjoe and many congratulations, I�m well jealous :) Do think that thanks to Harvey and Irma that the Q2 results in a couple of weeks will be the first �above expectations� since the interims last year and reading between the lines they hinted at this at Q1 (or perhaps I read too much into it!): �It is too early to attempt to quantify the impact of Hurricanes Harvey and Irma accurately on our business. However, it is evident that it will result in an increase in demand for our fleet and we will provide an update at the end of Q2.� As you know as a LTH, generally speaking the market constantly sets the bar very high for AHT and most �ahead of expectations� follows a run up in share price and then a sell on results. However, given there has been nothing but �in-line� thus far this FY then I�m hoping the normal sell on results will not happen and it will provide the impetus to break the 52 week high. IMO the sector still hasn�t reached the peak of the cycle, particularly in the US, so the Trump effect aside I still feel earnings for the year will beat expectations. Current forecasts are for underlying earnings of 120p, based on the Q1 growth in relation to last year I think it will be more like 130p-140p. With a five year average PE of 16 that�s a target price of c �21.60. Earnings growth even at constant exchange rates will mean this has a PEG less than 1 which is mainly what I focus on now. So whilst I agree that this is currently trading on a forward PE of 16 which is fair value with zero upside!, I do believe this will get a rerating at some point this FY (I hope so anyway). What broker was forecasting that AHT would 20 bag back in 2008/9?......answer: NONE. GL DD
Hi Matt, Had these on my watch list for a while and now may be a good entry price. The fundamentals are to die for but just not too certain about outlook, will Troponin and VitD sustain growth?, the BOD are as ever conservative in their forecasts but they have �1m of revenue to make up 17/18 and seem to be relying on Troponin alone and intimate VitD will see modest / plateau sales..........so what will 17/18 revenue look like (million dollar question!)?, personally think it will be okay even if VitD only modest (say +10% to +15%) growth, there is China, and back in FY 15/16 they were predicting that Tropinin would have covered the lost revenue of �700k to �800k for 17/18 but this is now cited at �1m.....difficult to predict and value this one, but love the business model, barriers to entry, the BOD and the fundamentals, just don�t know if it�s now slightly over valued. DD
Hi Matt, Stalking you! Lol...........BVXP you still holding?, see thread. Sorry for off topic. Good luck. DD
Hi Matt, Good to see your still in here and doing okay. Am kicking myself about IGG, still has �7 written all over it but got too inpatient - fool! Do wonder given the cyclical nature of AHT how long before it downturns, they say construction has 7 year cycles, will have held these 6 years come early 2018, so when will it turn?........guess a lot will depend on the Donald as much as anything else, interesting times though. dubious No problem didn�t think for one minute you attempted to mislead anyone. All the best. DD
dubious Harris reduced their holding by 0.14%. DD
Hi Matt, Hope all is well. Looks like this has got its mojo back again!........quite a days close for me, now a five bagger (my first!). Good luck. DD ps I sold IGG too early.......lesson: don�t make decisions on gut feelings, let the fundamentals do the talking!
Nice to see you have kept you�re sense of humour!, hope all is well. Will be off loading these as soon as they are worth more than the dealing fees!......that said Paul Scott is no fool when it comes to picking stocks, however, his relationship with TW is getting a bit suspect IMO. nilplused - Reynolds got �200k in fees for the RTO (sitting on his arse for a few months) if I recall and combined with all his BOD salaries you can see clearly how he makes a living - basically by transferring shareholders money into his fat bank account. DD
Hi frisby, You mention free float of 48%, from ft it�s 70%, can you confirm where you got you�re figure from. Thanks DD
As my previous posting: Would ignore Oiluser, he is a complete twat and a troll of the highest order. Has ruined the ENQ board with his incessant deramping and laughing at PI's losing money......just because someone had the audacity to post something negative about his one and only investment PMO. Just filter the arrogant troll. DD ps Have no position here or any hidden agenda's..........unlike Oily!
Oily You are a complete Twat, end of. Go back across the pond. DD
All, Would ignore Oiluser, he is a complete twat and a troll of the highest order. Has ruined the ENQ board with his incessant deramping and laughing at PI's losing money......just because someone had the audacity to post something negative about his one and only investment PMO. Just filter the arrogant troll. DD ps Have no position here or any hidden agenda's..........unlike Oily!
Nice one!
From Sharecast a couple of days ago: Assessing the impact of Hurricane Harvey on Ashtead Group's US-based Sunbelt is difficult, said Jefferies, but the arm could benefit from a sizeable amount of disaster recovery revenue based on previous disasters. Using Hurricane Sandy as a precedent, Sunbelt may see roughly $50m of immediate disaster recovery rental revenue, equating to about a 2% uplift to the 2018 forecast pre-tax profit of £894m and earnings per share 118.6p. This does not include rebuild rental work that would be expected over several years and the possibility of the storm being a catalyst for increased US flood defence infrastructure spend. At this early stage, Jefferies analysts retained their unchanged 2018 estimates but do expect a Harvey update alongside Ashtead's first quarter results on 12 September. For the quarter, analysts forecast 12% rental revenue growth, of which 14% from volume and a decline of 2% from yield, giving £229.2m PBT and EPS of 30.4p. It was noted that while Ashtead shares have risen 7.5% over past week, US peers United Rentals was up 12.4% and HERC Rentals up 16.3%. DD
Yep, bought in here 2012 following 'Sandy'......not just because of that storm I should hasten to add, but it was a factor. Let's hope people are safe. DD
Thanks Matt, URI of course!, normally check them first but ended up scratching around today trying to find a logical reason for this sudden spurt. Also been trying to find some numbers on CRS today but no joy. Did check a couple of recent UK acquisitions to see what they normally pay as a ratio of turnover. For Liontrack Hire and Mather & Stuart their purchase price came to twice their respective annual revenues. So whilst a bit of a finger in the air, the revenue for CRS could be circa £89m pa. Guess once the CRS deal has been finalised over the next few weeks that additional information will then also be released. Then got curious about the equipment rental market in Canada. AHT have targeted 5% of the Canadian rental market and the market forecasts were for $4.9 billion turnover for 2016 rising to $5.8 billion by 2020 (see link below). If they achieve their 5% market share target then that's an additional £150m revenue pa (+5% of last FY). Acquisitions were £437m last FY, wonder how much this FY?, particularly given that CRS alone is up to £179m already!. hTTps://www.constructionequipment.com/equipment-rental-revenue-set-top-57-billion-2020 GL DD
Pity you sold up at 3.05. Good luck to true holders. Still think MA will take it private............no statement to the contrary today!. DD ps About time you came out of the closet.