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sure np! I think we are saying the same thing but with slightly different numbers. I pay for financial data so I would hope their research is more complete . The industry ratios provided are averages across 11 companies in the freight and logistics services market.
Pianista - we are still probably taking swings in the same ballpark, but just to say stockopedia have adj. EPS of 1.32p. Another point, 12m rolling industry forecast PE ratio is 17 . Ok DX is not so great here compared to industry based on "current" earnings, although they are far from the worst! But if you look at price earnings growth, DX are 2nd in industry with 12m forecast PEG ratio of 0.4. Too my point earlier, management expect to exceed forecast earnings for 2021:
· Nonetheless, the Board now anticipates that DX will materially exceed current market expectations for adjusted profit before tax for the financial year."
· Trading to date in H2 is significantly ahead of the same period last year, in line with management expectations, and the Board expects further strong progress in rebuilding profitability this financial year. It views prospects further ahead with an increasing level of confidence.
This is why DX trade at such a high PE relative to industry currently. A 50% increase in the size of the group fleet is icing on the cake in my opinion. Management are advocating yet more confidence in future earnings and growth of the company. I am invested here because DX are probably most likely to further exceed forecasted adj. EPS FY22 of 1.87p. I am lot more confident we'll see a revised EPS further north later this year!
Firstly, this is a turn-around stock. Secondly, the analyst is only telling half the story. He has is based his P/E on reported earnings. 2021E EBITDA is 7.9M which means a forward P/E at todays prices of 22x. Haven't DX already reported recently they are ahead of expectations for H2?
For me it would be nice surprise to break the 420 high before ex-div before pay day 14th May!
At 550 PE ratio is still only 10 and below that of L&G. But it will be interesting to see whether earnings growth can be maintained going forward. I welcome the share buyback; it will get us closer to this price range!
Deep: I have high expectations for this share. They have good experienced management. But £1 is a far stretch in the near term. To paraphrase some of the 2021 2nd half expectations:
· Healthy pipeline of opportunities in the parcels market
· Expanding network
· Trading in H2 is significantly ahead of the same period last year
· Board expects further strong progress in rebuilding profitability 2021.
· Views prospects further ahead with an increasing level of confidence.
Hang in there and hopefully we are rewarded well. good luck!
To the point Delano!
Welcome buffet. Carvill recently exercised shares options. He last bought approx. 45K in May 2020 at a market average 210p. McTiernan is the only non-exec who has bought again recently. See the latest PDMR.
I hope that helps.
Forward guidance for FY 2021 ilmenite production is a range of 1,100,000 to 1,200,000 tonnes. The bottom range is a 45% increase on FY20. First quarter feedback confirms we are on track for the bottom range. Looking forward to the half year update.
A couple more:
- Total shipments in Q1 2021 increased 77% compared to Q1 2020 (Q1 2020: 194,600 tonnes), reflecting strong product market conditions and aided by the increased capacity of the transhipment vessels.
- We have secured the majority of sales for Q2 2021 and expect ilmenite demand to remain robust as pigment inventories remain low through the supply chain.
The guys at the helm are experienced in this industry and they know delivering quality is key to the success of this company. Their shareholding is proof that there is scope for improvement and decent share price return. I think we will be well into 40s at least by end of 2021.